Dear Traders,

Day 3 and all eyes on the Greece-rendum.

However it is important to look at other factors which may confirmthe rise of the Euro. I am pointing out to yesterdays Dollar FXmarket posting new high followed by a lower low, signalling resistance to the upside dollar strength, in short a bear wall to the bulls rising momentum.

Meanwhile, the Euro (expand chart B for a better view) continues to indicate a few reversal patterns, beginning 18-June to now, these are:

1) Reverse Complex Head and Shoulders

2) Wave C of a Elliot Wave 5 wave count

3) Diamond Bottom (Chart B)

Can it be true the Euro will trend up past 1.14? Time will reveal, however i remain, in the short term, of the opinion that it may do so.

This concludes my strategy for the month ahead.

Thank you and Good luck

Chart A



Chart B
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