The EURUSD gapped up earlier today, opened at 1.2703. The single currency strengthened after projections on Greek election showed pro-bailout politicians won enough seats to control the parliament. From a technical perspective, the breakout above 1.2641 could be an early signal of a bullish reversal scenario testing 1.2822 even 1.3000. The bias is bullish in nearest term. Immediate support is seen around 1.2641. A clear break below that area could lead price to neutral zone in nearest term but as long as moving inside the bullish channel my overall intraday bias is still in a bullish mode and need a clear break below the bullish channel and 1.2541 to stop the current bullish view.
©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.