EURUSD is currently finding support by a confluence of three technical indicators. First, the trend line resistance (purple line) that was broken to the upside has now been tested as support. Second, the 61.8% fib retracement level of the last move up also coincides with the trend line support. Lastly, we have the 200 bar moving average (red line).
It's Friday and there is definitely some weekend event risk with the Greece debacle still undecided. However, I've taken a small long position here.
It's Friday and there is definitely some weekend event risk with the Greece debacle still undecided. However, I've taken a small long position here.