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    EUR/USD: down-trend expected to continue

       
    The short-term down-trend continues, falling back down into the 1.09s after the Greek referendum returned “No” vote, increasing the chances of a Grexit.

    Since then the pair has recovered, rising, back up and filling the gap formed this morning.

    Overall I expect the pair to continue moving lower in line with the mini-down-trend. For confirmation, however, I would ideally wish to see a break below the 1.0954 lows, with the next target at the S1 monthly pivot at 1.0873.
    EURUSD06

       
    The short-term down-trend continues, falling back down into the 1.09s after the Greek referendum returned “No” vote, increasing the chances of a Grexit.

    Since then the pair has recovered, rising, back up and filling the gap formed this morning.

    Overall I expect the pair to continue moving lower in line with the mini-down-trend. For confirmation, however, I would ideally wish to see a break below the 1.0954 lows, with the next target at the S1 monthly pivot at 1.0873.
    EURUSD06


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