EURUSD was up and down again for ranging on the back of the China
surprise and the news that Greek creditors reached a deal. The price
reached the border between bearishand bullish trend and stopped near
some key resistance levels such as 1.1113/1.1215/1.1466.
The
bulls market is under control as there are few strong resistance levels
on the way for the price to be reversed. For example, 200-SMA value is
located at 1.25 on weekly chart and at 1.1466 on daily chart so the
price should go quite a long way through many levels on the way to
possible reversal. Any fundamental news events may move the pair to be
down or increase the choppy situation for the downtrend to come later
for this pair.
