As i've said the vote of confidence in Grece has passed yesterday successfully, now Grece has some more things to do before recieving of the next money transfer. Noone wants to see that Grece is going to eat these money and will do nothing more than going deep into the crisis with raising the ECB interestrate. But ECB's golden rule ' if you pretend there is no problem, the problem will disappear ' proved right for now. Today FOMC will take a decision which is clear for everyone, there will be no change in the policy, and this is the main reason for the EUR going higher and higher. Too bad but this process will continue. On 4H chart there is a clear 'wedge formation' which is leading us directly to 1.4520. There is only one resistance @ 1.4453 which can be passed easily.
It's pretty difficult to tell you the entry point for today, all are still holding their LONGS, there was just partly take profit after the vote of confidence. So my forecast for today again will be LONG above 1.4310. We may never go to 1.4310 today so enter where you decide and add to LONGS once above 1.4410. Be carefull as the pair attempts to return into the major upside channel which started at the end of 2010. However this will be very difficult approaching 1.4520 major resistance level. EUR will not be able to hold above the mentioned resistance level then we shall have a downside break of the major upside channel then downside break of 1.43 level and from there we are going down - how much we shall see in a month.
On MONTHLY and WEEKLY charts we are still out of the downside channel until the pair is below 1.4150.
For today EUR will dip to get a better price then will go up, there will be a little pause @ 1.4425 then will attack 1.4450 if successfull we are going to 1.45 - 1.4520 in the next 30-36h. Downside scenario will be only if in the next 16h 1.43 support is breached, i'll not discuss this because it's less possible. If this happens I'll post an update.
This is for now, any comments and questions are welcomed.