EUR/USD trades higher today, driving other majors up against the US dollar as well, on talks that new Greek aid package amounting to E150bln could be agreed.
As such, the same reaction is shown on S&P futures, which are rallying sharply higher ahead of the US session, but still within a third leg from its lows. For any bearish interpretations, 1280resistance must hold! If not, then this pull-back higher on majors will not complete so soon.
Well, traders need to focus on market direction, and pay attention to price which is always the most important and the best indicator out there!
In the video below , Gregor Horvat will discuss about the current price action on EUR/USD and AUD/USD, and will point out “what is needed for bearish price action to continue”.
Guest Posted by Gregor Horvat