Daily Outlook: Pair fell early yesterday as traders continued to digest the Greece bailout, then jumped up in the Asian session today as some bigger money now consider the crisis closed. Technically the signals are still mixed as the pair was slightly bullish yesterday but has not made any significant move since its massive gap on Monday. We have resistance at 1.3700-1.3725 and eventually 1.3800. We also have good support at 1.3570 and 1.3500.
Trading Idea: My primary trade will be to look at for another long opportunity in the 1.3570 support zone, with targets at 1.3600, 1.3625, 1.3650 and 1.3680 (110 pips profit). For a secondary trade I will look for a short in the 1.3725 area as there is no strong trend right now and I believe mild range is in the cards. Short targets from 1.3725 are 1.3700, 1.3670, 1.3640 and 1.3610 (115 pips profit).
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