With the Euro crisis almost over, or at least looking likely to reach a settlement that includes Greece within the Euro and on even stricter terms, something the markets can only favour. It seems likely the Euro may be heading back up whilst it continues the correction it started back in April. On the day chart we can see how with today’s price action a 4 day reversal candle pattern has formed, today’s strong move up, which was stopped by resistance offered at the 50.0% Fibo line, would lead to think of more upward price action to follow. The Stochastic Oscillator is also in well oversold territory and the DMI about to crossover to upward momentum. Altogether it looks like the Euro has some more room on the up side for the rest of the week.

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