The pair is unchanged to far in this start of the week. If we closed last week with some worries about the time the FED will increase it's interest rate, we are starting this week with some worries about the EU nations debt and their ability to face it.
Spanish debt yields have risen recently and this is a fact that will weight on the Euro during this week.
Today it is bank holiday in US but we have some stats from EUR: manufacturing and services PMI for French and Germany, plus the German Ifo Business climate.
Here are some support and resistance to watch today:
R4 1.4157; R3 1.3988; R2 1.3819; R1 1.3756; S1 1.3587; S2 1.3481; S3 1.3312; S4 1.3143.
I still believe that to have a confirmation of the Bull movement we need to break over area 1.3720-1.3750, I fix the first resistance at 1.3756;
while to see a bear momentum we need to break below 1.3587.
I will play the range during this week, as far as it will make sense.
right now "lafenice" account is not visible yet, but in the next 2-3 weeks it will be visible so you will be able to see my real time trades, or to link your account to mine, to trade in real time with me.
I have short @ 1.3681 with a target of 50 pips, also 50 pips stop loss.
Happy trading to all
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