EURUSD analysis

posted by genuinelyFX at 06/30/2015 - 17:27 GMT

This pattern was identified last week. Right now we follow the path. There might be some surprises from this Greece mess, but we stick with the longs for now.

EURUSD h4 chart

On a monthly line chart there is a bounce from the 1.10 support and we might be looking for 1.18 as a target, both chart resistance and fibonacci 38% level on the last swing down.

EURUSD monthly line

On an Elliott perspective, we might be looking to break above this 1.11-1.12 resistance area. A solution to Greece’s problems should give a boost. Remains to be seen if this pattern is complete.

EURUSD monthly bars