Hello everybody! What's is going on with everyone? Hope everyone is well =]
EU Union is in the bag. With much anxiety and rumors, what is EU's next course of action? Greeks, Spanish and Italians, to start off, they are the happening and fun Europeans to start with =] A non-mechanical, non-mechanical and non-systemic Europeans :P
Anyway, let's start with what I am seeing.
EUR/USD, has made a great fall ever since their crisis. A lot of talks saying EUR is picking up before and after Greeks elections. Well, after the fall to 1.2287, price indeed bounced but this bounce is going to last.
Take a look at the daily chart, it is too early to come out with any picture. The only immediate picture that is visible is that price action as of now after the bounce looks like it is going through a "Bear Flag". Calmly creating a channel after the bounce.
Whether EUR/USD is going up or down. depends on how it breaks out of this Bear Flag. I have not been holding a position in Spot FX since 12th June 2012 but I have been doing a lot of scalping using Binary Options. Scalping is more feasible in the current market conditions unless we manage catch something in the market, there and then, spot on. The right place and the right time, go for it. If not, stay with scalping. Discipline is the key to get out of from month of June with a good number.
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