Last week, we wrote, “The area of 4380 and 4420, for this week seems to be a zone of balance between the rise and fall. Therefore, we will remain bearish as these and the bull- above “and finally after a fall earlier this week of 4080 we left to go up to 4405 and end 4187 on Friday night.
Last week, the Europeans and the IMF have agreed to provide financial assistance to Greece. Initially this was welcomed by a back of the euro 4380. But this week we will vote on measures of the austerity plan by the Greek Parliament and does not seem to win both the socialist majority and shared. In effect until June 28, financial markets will hold their breath. A vote against the Greek Parliament could trigger a financial shock waves in Europe and greatly weaken the euro. Conversely, a success would put in parenthesis for a while the problems of Greece.
Graphically, we remain in the same configuration as last week with continued daily macd down as well as a weekly. So obviously, the first part of the week should be eventful and therefore, we must be careful.
The first part of the week (Monday, Tuesday) should be rather bearish against the indecisiveness of the vote, June 28 Also, 4150 and 4120 will be our media before a decline in 4020 and the area of media 3980/70 (the rebound from 23 May)
In the event that the market anticipates a positive result, the euro should be able to return to 4320 and maybe 4380.
If the vote is positive, the European currency is expected to resume colors and 4380/4420 resulting in a return signal bullish for 4620.
If the vote is negative, the euro could fall below 1.40 and go to 1.36. But, nevertheless, one imagines that the Greek parliament rejects this plan … … …
Our advice for the week:
We buy for 4220/4180 4080/4020
We sell 3970 to 3780/50
We buy 4240 to 4320/4380
Statistics that can influence the currency pair Attention to U.S. statistics of the week.