With Bank holidays all through Europe and in the US, Monday points to be a dull day in the forex market. The macroeconomic calendar will remain empty, with a couple of FED's officers speeches being the only risk events later on in the day. Besides the calendar, headlines coming from Greece may affect the EUR, particularly after the weekend news, showing the troubled country can't afford upcoming IMF payment of €1.6 billion due in June, and that Tsipras won't accept a deal against its convictions, pretty much stating that, despite the 4 months of negotiations the EU group remains at square one.
The EUR/USD pair has lost the 1.1000 level and fell down to 1.0958, standing a few pips above it and with the 4 hours chart showing that the technical indicators head lower below their mid-lines, albeit lacking momentum due to the limited volume in the market. The 20 SMA maintains a bearish slope, heading lower around 1.1070. Additional declines below the mentioned daily low should lead to a downward continuation towards 1.0920, the next static support, whilst selling interest will likely surge on approaches to the 1.1000 figure. Nevertheless, if the price accelerates above this last, 1.1050 is the next level to watch.
View live chart of the EUR/USD
The EUR/USD pair has lost the 1.1000 level and fell down to 1.0958, standing a few pips above it and with the 4 hours chart showing that the technical indicators head lower below their mid-lines, albeit lacking momentum due to the limited volume in the market. The 20 SMA maintains a bearish slope, heading lower around 1.1070. Additional declines below the mentioned daily low should lead to a downward continuation towards 1.0920, the next static support, whilst selling interest will likely surge on approaches to the 1.1000 figure. Nevertheless, if the price accelerates above this last, 1.1050 is the next level to watch.
View live chart of the EUR/USD
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