Participant

The Euro broke its trend support line on the day chart today with a hefty loss from 1.13447 to 1.1185 after having been as low as 1.11336. This has happened after a failed attempt to get passed the previous high of 1.14642 adding more strength to a bearish environment going forward. Greek talks will obviously be a great concern but also positive data coming out of the US is strengthening the green back against pretty much all major currencies. I see the next support on 38.2% line but as it is in the Ichimoku cloud I don’t think that it will last long. The next main support for this pair I see between 1.0965 and 1.0995 which are the 50% retracement line and bottom side of the Ichimoku cloud.

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