Wait for signs of price rejection on smaller timeframe, 1hr or smaller and then look for longs. Momentum so far is quite strong towards the downside.

EURJPY is moving sideways as well, watch out for 106.50 support level.

Thanks for letting us know mate. Happy to help :)

100:1 is a good choice Vital.

[EUR/USD] Dealers sees key hourly support in pair at 1.3640-50 area

via TradeTheNews.com

1.3650 area seems to be a better support level on EURUSD

Hi Conrad,

That's correct 3900 would signify a clear Breakout of Trendline on daily chart. Once price move below 3900 we can start to look for short trades.

3950 is the area when continuation of bullish uptrend can resume. After we posted the analysis price did came close to 3975 and moved up by 75 pips.

Note to others: Comment from Conard and my reply is in regards to latest post http://forex.firepips.com/euro-dollar-prediction....

EU Summit is due on Wednesday, lets see what comes out of it.

Good one David. Though I think EURUSD is still bullish.

(GR) Greek parliament ends debate and set to begin vote on medium-term austerity plan after remarks from PM and Finance minister
- Vote likely to formally begin at 8:00 ET (12:00 GMT) and be conducted under a roll-call (voice vote)
- There will be two votes in the Greek parliament on the five-year medium-term government austerity plan, the so-called Medium
-Term Fiscal Strategy (MTFS).
- First will come a vote on the general framewrok plan on Wednesday, then a vote on the law to implement the measures on Thursday morning ET (Thursday afternoon local time).
- If the parliament votes no (analysts see a 30% probability), the €12B tranche of the EU/IMF would be blocked and Greece would be left grappling for funding in a political vacuum pending a likely general election.
- Yes votes will shift the immediate focus will shift to the Eurogroup meeting on July 3rd. The Eurogroup will look to define a three-year package effectively removing the need for Greece to access bond markets before 2015. While there is no final number as of yet, a package of €85-120B seems likely split between new EU/IMF loans worth €40-70B, Greek privatization receipts of around €25B and private creditor participation of €20-30B.
- A report on late Tuesday said that one member of the ruling PASOK party (Mr. Robopoulos) who previously claimed opposition to austerity measures has now vowed to support the measures. The ruling party has a 155-145 majority in the parliament which appeared to be eroding after reports earlier this week said that four PASOK members might be wavering.
**Note: Greece's Papadimitriou MP (New Democracy party member - opposition) stated that she would back austerity plan as she noted that the medium term plan is the only answer (refer to our 6:41 ET headline)

Source: TradeTheNews.com