With the bailout now agreed by Greece we may see the euro strengthen in the London session today?. We have good separation 0f the 21ema & 55 ema, so price is very much in a downward movement. However price is at WS2 0.6983 zone I would expect price to retrace from here back up to the 4hr 21ema or higher to WS1 @ 0.7083..

Sell order : I would wait until price has retrace back to DM4 @0.7069 to DR2 @ 0.7094  on the 15min chart (Which is also the WS1 on the 4hr chart) before looking to short this pair.

Buy order : I would like to see price rise then retrace to a fib level before entering a long order ref 15 min chart  .

 

Good luck with your trading today.

2015-07-16_07-09-03

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