The agreement with the creditors on the third package of financial assistance worth 86 billion euros has been made in August 2015. Greece has solved part of the problem. On charts we can see EUR strength.I am writing this article in the middle of August month and I see huge space for EUR gain in next weeks.
2.0 Technical analysis
EURUSD showed strong weakness in the end of July. Price went down to1.0845 and weak momentum gave us thoughts about main bearish trend continuation. On Figure 1 we can see August low.
Figure 1: EURUSD daily chart with volume
I am monitor EURUSD volume and price action, but he most important thing is future direction. On daily chart on Figure 2, we can see that EURUSD fight to go above Daily Ichimoku cloud.
Figure 2: Daily chart EURUSD and Ichimoku indicator
On Figure 3, price action already has broken H4 RSI trendline and try to reach 1.12 and than 1.145.
Figure 3: EURUSD H4 char ttime frame and RSI direction
The same thing we can see on H1 EURUSD chart where price is above H1 cloud and we can see daily bullish trend.
Figure 4: EURUSD H1 chart and Ichimoku indicator
A lot of traders weekly trends determine using H4 chart. EURUSD is abo…