11 May 2015
EUR/USD: Comes with chances of recovery still above 1.1052
FXStreet (Guatemala) - EUR/USD is currently trading at 1.1159 with a high of 1.1208 and a low of 1.1133.
EUR/USD has seen some out of synch price action that may be correlated to option expiries in the EUR/USD that are both large, close to prevailing rate and close to expiry at NY cut 10am. The price 1.1150 for quick 35 pips or so only to drop back and resume the downside again to prevailing prices.
Meanwhile, there is still a cautious tone over Greece with the forthcoming deadlines and vast amounts of Greek debt that needs to be settled. For instance, tomorrow alone, there is the deadline for Greece to repay EUR757m to the IMF. However, June is not far off and this is more of a concern as there is a requirement for the larger EUR1.5b IMF repayment and then the EUR 3b which will be owed to the ECB in July and August.
Technically, EUR/USD the major is well blow the highs of last week at 1.1392 and there was a divergence in the RSI and hence the resumption of the downside. There is strong support sighted by analysts below prevailing rate, and this is sighted at 1.1052 26th March high. While we trade above here, there is he chance of the upside recovering.
EUR/USD has seen some out of synch price action that may be correlated to option expiries in the EUR/USD that are both large, close to prevailing rate and close to expiry at NY cut 10am. The price 1.1150 for quick 35 pips or so only to drop back and resume the downside again to prevailing prices.
Meanwhile, there is still a cautious tone over Greece with the forthcoming deadlines and vast amounts of Greek debt that needs to be settled. For instance, tomorrow alone, there is the deadline for Greece to repay EUR757m to the IMF. However, June is not far off and this is more of a concern as there is a requirement for the larger EUR1.5b IMF repayment and then the EUR 3b which will be owed to the ECB in July and August.
Technically, EUR/USD the major is well blow the highs of last week at 1.1392 and there was a divergence in the RSI and hence the resumption of the downside. There is strong support sighted by analysts below prevailing rate, and this is sighted at 1.1052 26th March high. While we trade above here, there is he chance of the upside recovering.