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    EUR/USD: pushing down on trend-line in bearish resumption

       
    The pair was in a short-term down-trend but then pulled-back in an a-b-c correction. This morning it broke lower again, however, due to continued concerns over the outcome of talks with Greece and its creditors.

    It has fallen quite sharply down to a trend-line which it is currently pressurizing. Such was the the strength of the previous 4-hour bar it looks like the trend down will probably continue, with a break below the trend-line, initiating a further move down. Such a break would be confirmed by a move below 1.1030, with an initial target at round-number support from 1.1000.

    A move below 1.1000, including a 20 point margin of confirmation, might also be reasonably expected to reach support from the 1.0915 lows.
    EURUSD13

       
    The pair was in a short-term down-trend but then pulled-back in an a-b-c correction. This morning it broke lower again, however, due to continued concerns over the outcome of talks with Greece and its creditors.

    It has fallen quite sharply down to a trend-line which it is currently pressurizing. Such was the the strength of the previous 4-hour bar it looks like the trend down will probably continue, with a break below the trend-line, initiating a further move down. Such a break would be confirmed by a move below 1.1030, with an initial target at round-number support from 1.1000.

    A move below 1.1000, including a 20 point margin of confirmation, might also be reasonably expected to reach support from the 1.0915 lows.
    EURUSD13


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