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Webinar: EUR & JPY Struggle Post Greek Deal- Weekly Setups in Focus

Webinar: EUR & JPY Struggle Post Greek Deal- Weekly Setups in Focus

Talking Points

EURUSD 30min

Chart Created Using FXCM Marketscope 2.0

Notes: EURUSD is trading within the confines of a well-defined median-line structure off last week’s highs with today’s break below the 1.1055/65 region invalidating the long bias. We’ll look to sell rallies while below this mark near-term with a breach above the upper median-line parallel (MLP) needed to shift the attention back the long-scalp. Confluence support rests just lower at 1.0985/90 and is backed by 1.0950 & 1.0915. (Discussed in today’s webinar- 20th minute)

AUDNZD 30min

Notes: The pair has taken out targets from last week's setup at 1.1094/97 and 1.1030 with the new weekly opening range now in focus just above. Note that we are now testing trendline support dating back to the May lows (daily chart) and near-term the short-bias is at risk while above this level. Look for resistance at 1.1094/97 & 1.1136 with our bearish invalidation level set at 1.1177. A break below support targets support objectives at 1.0997, 1.0920 & 1.0892. (Discussed in today’s webinar- 6th minute)

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Key Data Releases this Week

Other Setups in Play:

---Written by Michael Boutros, Currency Strategist with DailyFX

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.