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| Technical Outlook for EUR/USD 6-7-2015 |
Eur/Usd pair moved last Friday in the average price movement of 53 PIPs, it recorded the highest level at 1.1117 and the lowest at 1.1064 and closed at 1.1112 to Gain 28 PIP result to negative economic data from USA on Thursday and bank holiday on Friday.
The pair opened today at 1.0986 to make a gap with 125 pips After Greeks rejected the terms of the creditors through a yesterday’s referendum.
The pair is moving in a series of down corrective waves after breaking the price channel, and now the pair is trading around the broken limit to retest it and expected to fill down soon to new lows.
It is expected that the pair eur/usd will reach the targeted level at 1.10100 in the next few hours.
Today at 14:00 we are looking for ISM Non-Manufacturing PMI from USA
The Relative Strength Indicator "RSI" reveals the distribution operations at the market and till now we are seeing the control of Bears on the market.
Medium term trend: UP
Support levels: 1.1078 and 1.1044 and 1.1025
Resistance levels: 1.1131 and 1.1150 and 1.1184
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