The euro reached new highs in recent sessions, after another Sunday gap. Prices extended above 1.2700 region where the market will be looking for a top.
Based on the structure of a recovery from 1.2290 we are still very confident that this is a contra-trend movement and that sooner or later prices will sell-off.
Guest post by Gregor Horvat
Ideally, market will reverse lower with minor impulse, through corrective channel line that will be trigger for weakness back to levels from June 1st.
Update: Final results of Greek elections – Pro bailout camp wins. Read the results, coalition prospects, analysis, and market reaction (which was short lived).Get the 5 most predictable currency pairs