The drop stopped at 38.2 on FE of last rise and fall on daily. This level is 1.1262 which is quite critical. This level seems to be holding, breach of which will have target of the next level of 1.117, then down to 1.08xx. If this hold consolidation will be around the 1.14 level. I am actually long from 1.1262 tight SL, target of 1.138.
Do you think IT's dare to keep at fibo and levels that you mentioned. Nobody cares but we retail traders and hence we are really so much concerned about what is happening around. It's all in the chart. I just don't trade till I don't see what is happening and chart don't tel me.
When a country with the size an minimal impact on the world global economy has held Euro analysis capture for years I am inclined to conclude that news and analysis about Greece is more or less a smoke screen .....it's a talking point that clouds more important complex fundamental issues that surround the Euro. I do not mislead myself and even try to ferret those relying on daily weekly and monthly charts for longer term trend that allows success over the longer term.