Previous Week 31 May – 4 June

O: 1.2288 H: 1.2353 L: 1.954 C: 1.965

Last Week 7-11 June

O: 1.1929 H: 1.2152 L: 1.1875 C: 1.2093

Expected for the week:

Expectations of another bearish week was marred last week when this pair closed with a bullish weekly candle, +164 pips (opening-closing).
On the daily, we are still in a downward channel, with the daily trying to form a rounded bottom but a failed attempt on Friday.
Bulls looked good on the hourly but the last few trading hours were lackluster.
We will still be looking at the 2006 numbers as a gauge.
We have no strong sentiment for the week.
The key levels for this week are as follows:

Bulls:

1.2225, 1.2355, 1.2646 (23.6 Fib)

Bears:

1.2043, 1.1932, 1.1874 (0.00), 1.1833, 1.1726

2006 numbers

1.2404, 1.2334, 1.2190, 1.2029, <1.1965> 1.1949, 1.1913, 1.1869, 1.1781

Fundamentals (based on +8GMT)

Mon:

Australia Holiday

EUR Zone - EUR news

Tue:

EUR Zone – EUR/GBP news

USD Zone – USD news

Wed:

EUR Zone – EUR/GBP news

USD Zone – USD news

Thu

EUR Zone - EUR/GBP/CHF news

USD Zone – USD news

Fri

EUR Zone – EUR news