Last Friday, the base consumer price index in the USA made it clear to investors that the economy still has started to recover from the recession in the first quarter again, on these news traders reacted immediately with the sell of the euro against the dollar USA. Also at the weekend Greece doubted whether it will be enough money to pay off the I Also at the weekend Greece doubted whether it will be enough money to pay off the IMF in the next month. Let me remind you that Greece has to make a payment to IMF in the amount of 1.6 billion euros from 5 to 19 June. On Monday, there was a weak volatility due to the fact that the markets in Germany, the UK and the US are closed for the holidays.
Today publication of important US data is planned, if the economy will continue to grow, is guaranteed a further decline of the currency pair.
Sell couple should be from the resistance level 1.1000, profit target set at support levels 1.0955; 1,0900; 1.0860.
If the currency pair can break and consolidate above 1.1000 resistance, it is possible to buy with take profit at the following levels 1.1060; 1.1100.
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