Greek reforms
On Friday evening the authorities of Greece and representatives of the eurozone were agreed on extension of financial support of Greece for 4 months that had a favorable impact on European currency and from a week minimum it rebounded again to the level of resistance 1,1430 together with US dollar . However today, by the end of the working day, it is necessary to Tsipras's government to introduce the preliminary list of reforms for consideration by European Central Bank and the IMF and if this list of reforms doesn't get approval by creditors in Greece, the reached agreement will be cancelled.
Main movement of currency pair
EUR/YSD pair is traded in a lateral trend, Tenkan and Kijun line are bound below the price curve, the price is kept below the descending cloud, continuation of the ascending movement is predicted. It is desirable to traders to take “buy” positions above the level of support 1,1356, to fix profit at the levels of resistance 1,1390, 1,1420, 1,1440.
Alternative movement of currency pair
If pair manages to break through and get fixed below the level of support 1,1356 , continuation of the descending movement to the following levels of support 1,1330, 1,1290 will be possible.
Level of resistance: 1,1390; 1,1420; 1,1440.
Level of support: 1,1356; 1,1330; 1,1290.
On Friday evening the authorities of Greece and representatives of the eurozone were agreed on extension of financial support of Greece for 4 months that had a favorable impact on European currency and from a week minimum it rebounded again to the level of resistance 1,1430 together with US dollar . However today, by the end of the working day, it is necessary to Tsipras's government to introduce the preliminary list of reforms for consideration by European Central Bank and the IMF and if this list of reforms doesn't get approval by creditors in Greece, the reached agreement will be cancelled.
Main movement of currency pair
EUR/YSD pair is traded in a lateral trend, Tenkan and Kijun line are bound below the price curve, the price is kept below the descending cloud, continuation of the ascending movement is predicted. It is desirable to traders to take “buy” positions above the level of support 1,1356, to fix profit at the levels of resistance 1,1390, 1,1420, 1,1440.
Alternative movement of currency pair
If pair manages to break through and get fixed below the level of support 1,1356 , continuation of the descending movement to the following levels of support 1,1330, 1,1290 will be possible.
Level of resistance: 1,1390; 1,1420; 1,1440.
Level of support: 1,1356; 1,1330; 1,1290.
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