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EUR/USD Analysis

ACFX Forex Broker

Has Merkel and Tsipras found enough common ground allow them to bury their differences?We should find out over the coming days.However EURUSD has been acting very positively over the past few days.Is this due to the FOMC’s Janet Yellen putting interest rate hikes on hold or is it due to the end game being in sight for the current Greek crisis.? Probably a bit of both.However as long as the Euro keeps trading higher why fight the momentum?

EURUSD is now trading in a staircase pattern as the price action paints higher lows and higher highs.That the price action is above it price channels is also very bullish.I still want to see a breach of the 1.1035 level as upside bias confirmation.From a technical perspective EURUSD is trading in an intraday 1 hour up trend with the line of control at the 1.0760 level.

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EUR/USD Chart

EURUSD CHART

 

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