Next week of drama

And again. We were watching negotiations which ended with “success” in the morning. But there is a hook. Greece has to accept few big reforms until Wednesday. In short – this is a madness , not a rescue plan. I will repeat myself, we will see more rollercoaster here.

For now, there is a support for this rollercoaster – it is a bottom of ichimoku cloud on daily eur/usd chart:


We can see that for a moment price was below cloud but always managed to close above bottom. If there will be a close below cloud on daily chart, then we may be looking at move down towards Fibo extension levels (in previous post I showed levels from differens swings, this is more long term view from daily chart).

If there will be stronger selloff on eurusd then we may see a move down on oil. Recently oil went lower when euro did, so this is also a chart to watch. For now action stopped at 161.8% extension, daily oil:


Other interesting charts? Usd/jpy. Support at 121.6 was protected and it is a good place for buyers to try move price higher, weekly usd/jpy:


On daily usd/chf we can see that price is above cloud and looks rather good for buyers:


I presented only few charts. There are many more interesting things on charts. Still, I try to be very careful with my postion sizes. Any day can bring some unexpected news and we can be stopped out so watch out and good luck.

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