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EUR/USD choppy following Greek deal
Many had expected a Greek deal to be treated with glee for EUR/USD bulls, yet the markets showed their unpredictability, with the dollar actually enjoying a very strong day, pushing this pair lower. Friday’s swing higher came in lower than the one posted on 29 June, which has provided us with a bearish outlook.
Thus I expect us to see a move below 1.092 as this would continue the downtrend in place over the past three weeks. The inability to move below 1.092 would mean a more bullish sentiment would begin to come through. However, with the fundamentals absolutely dominating the price action of this pair, I believe there are better instruments out there to trade.