Resistance: 1,2990-00/ 1,3050/ 1,3080/ 1,3100/ 1,3135/ 1,3180/ 1,3230/ 1,3280/ 1,3300
Support: 1,2930/ 1,2890/ 1,2870 /1,2825/ 1,2760-70/ 1,2640-50

Comment: Euro's rise was continued in the beginning of the week and resistance at 1,2950-70 is being tested. As we had mentioned in previous analysis, a move above 1,2830 ( the top of the candle that had led to the exit of the consolidation), would cancel our lower targets at 1,2400 and 1,2330 and bring back a positive sentiment regarding euro.

A move resumption to 1,3070-90 area, where the ranges for the reversal are found, would be possible. This resistance level is strong and a reaction would be possible. A possible break would indicate the trend reversal and next targets will be set at 1,3350-00 or even 1,3800 area. This would be a positive sign for our longer term scenario, which sees a wider consolidation and the upward move will be a part of it.

First support is found at 1,2850-70, followed by 1,2750-70, which should not be breached is the trend is going to be reversed. Any upward expectation will be canceled in case of a move below 1,2630.


We are bullish and our target will be set at 1,3050-70. We will try buy positions at current levels and at the retracements towards 1,2830-60, with stops below 1,2750.
The reach of 1,3080-00 without any previous correction, may be used for sell orders with stops above 1,3135 and targets at 1,2970-00…




FX Greece


  1. The details and information included in the above analysis, are part of research based exclusively on currency charts and are of purely instructional and educational nature. None of the information featuring in the analysis can be considered as an invitation for opening positions in FOREX market or in the market of forward contracts or any securities listed on an organized or unorganized market.
  2. We assume no responsibility for any kind of losses ,profits or property loss resulting, in whole or in part, from acts that are based either directly or indirectly on the processing or the use of information, details and strategies, the reader may find in the analysis. The readers hold full responsibility for the use and the results of their actions.
  3. The recipients of the analysis must acknowledge and accept that investment choices of any kind, especially concerning the FOREX market, contain risks (high, low and occasionally zero) of reduction or even loss of their investment. Therefore, they should always be cautious prior to any kind of action.
  4. We reserve the right to change the terms and the characteristics of the analysis.
  5. The contents of the analysis are solely intended for personal use. They may not be retransmitted, reproduced, distributed, published, adapted, modified or assigned to third parties in any way whatsoever. Anyone having access to them is required to comply with the law provisions on the protection of third party intellectual property rights.