Opening Price Euro & DXY Signal

EURO V. USD

The last ditch effort broke-up between Greece and its creditors prompting a higher opening for the USD higher and a corresponding lower opening for the Euro. The so called push and pull of good and bad news still prevails as some investors a getting weary of these negotiations heading towards the end of the 2nd quarter. 

The EURUSD opening levels were @1.1215 from a Friday's close @1.1261 while the US Dollar Index (DXY) @95.12 basis point which moving higher in Asia session currently @1.1194 and @95.36 respectively. This provides that sentiment based trading is in effect since the news coming from the EU meeting weighed heavier as no actual deal has been achieved. Expect this to continue for now as the week starts its pace on trading volatility shifts as alternating trades are made across the market place.

With barely two weeks to the closing of the month, staying on course with what we already have would be maintained as no real trade setup can be identified for fresh positioning. We'll monitor how price action accelerates towards the week expecting some new directions from the Federal Open Market Committee (FOMC) meeting may provide some clues. But the September target date for the rate increase are still way within its expected date of deliverance.  

We'll keep you posted as to other developing trade set-ups as we move forward the week;s trading!