GGreek Interior Minister Nikos Voutsis warned that it is likely to be hard to make upcoming payments unless they reach a deal. Currently, the Greek issue is major concern. It was a muted session yesterday owing to bank holidays in France, Germany, and the US. Because of lack of economic data, the trading pattern will be determined by news from the US. The Greek debt drama will be the main focus over coming days. The pair closed below 20Wsma. The pair closed below the strong support zone at 1.1050 and 1.1030 provided more strength to the euro bears. The pair broke the bearish head and shoulder pattern aiming at 1.0800 in coming days and at 1.0550 later. These targets will be cancelled in case bulls manage to close above 1.1210. These factors favor further bearish views in the days to come. A divergence between the ECB and Federal Reserve favors bears in the long term. The weekly support is found at 1.0960, which is the last hope for the euro bulls. Monthly gains are completely erased. At yesterday's session, the pair managed to hold the 50Dsma.
Intraday: The last bulls' hope lies at 1.0960 50Dsma. A daily close is seen below 1.0960, bears are aiming at 1.0860, 1.0820, and 1.0800 this week. The intraday trading pattern is found between 1.1050 and 1.0940. An ideal selling opportunity is available below 1.0960 with targets at 1.0930, 1.0900, and 1.0860, stop loss is around 1.1010. In all time intervals, selling below the support or selling on rises is preferable within a day. Today, traders eye on the US core durable goods orders. The March manufacturing data returned back after seven months of negative readings. We expect the April readings to stay above 0.4%. In case readings meet our expectations, use the given selling opportunity. In case negative readings take place, sell on rises. Resistance is seen at 1.1010 and 1.1050.
Support: 1.0940, 1.0900, and 1.0860. Resistance: 1.1010, 1.1050, and 1.1100.