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As visualized by below chart, it seems that Euro is currently (at the time of writing) retesting the breakout level of 1.10833. The support line was broken Monday morning after news from Eurozone and Greece. This is a daily time frame chart.
If the EUR/USD market respects this support line, then we should see a downward trend on this currency pair for rest of the days. However, its worth taking note that:
1) Approximately, 70% of breakouts are false.
2) We can participate in Breakouts, only upon retest (which this currency pair is currently doing, at the time of writing this entry).
These are surely exciting times for Euro pair.
If the EUR/USD market respects this support line, then we should see a downward trend on this currency pair for rest of the days. However, its worth taking note that:
1) Approximately, 70% of breakouts are false.
2) We can participate in Breakouts, only upon retest (which this currency pair is currently doing, at the time of writing this entry).
These are surely exciting times for Euro pair.
