Forex Weathermap - EURUSD

11:35 GMT Jan 27 It is those times when a currency performs technically like a textbook case that makes you believe in charts. This happened overnight with eurusd retracing to just above 1.3076, the former 2012 high broken on Wednesday that triggered the run towards 1.32. The catalyst for the early eurusd selling appeared to be eurjpy selling but holding above 1.3076 has maintained the BOD (Bid on Dips) bias as this pair consolidates.
Continue to watch the headlines today with signs that a Greek PSI deal may be nearing. The test for the eurusd will come if a Greek PSI deal is announced and how much is already priced in. This is a risk heading into and over the weekend so should give eurusd some support. Remember this was also the case last weekend but it seems the parties are closer this time to an agreement. One restraint could be concern that Portugal is next in line for a bailout.
Daily Jay Meislers Forex WeatherMap
Jan 27, 2012 EURUSD (Current rate: 1.3047, O/N Range 1.3078 -1.3160)
Bias: Bias remains BOD (Buy on Dips) while abpve 1.3076 but would need to establish 1.3150+ to encourage a run at the key 1.3197 resistance and pivotal 1.32 level. Otherwise, expect consolidation while it stays within its two-day range at 1.3078-1.3184.
Range:
Resistance
1.3243
1.3197-00
1.3184
1.3115
1.3100
1.3076