The EURUSD cracked the trend line that had guided its slow accent throughout the week Friday.  The push lower occurred after the ECB declared in a brief statement that they would no longer accept Greek government bonds as collateral.  The ECB will review potential eligibility after the Troikia review.  This upped the pressure on Greece to regain the trust of international creditors.

From a technical standpoint it simple pushed the EURUSD to the support of its current range.  Resistance is still at 1.2330 and support is created by the monthly lows dating back to May of 2010 at 1.2150.  If support breaks the next level of signifigans is 1.1880, which represent the yearly lows from May 2010.

Sup   1.2150          1.1880

Res   1.2330

Plan:  At the bottom of the current range.  Not interested in buying counter trend.

For access to Keane Insight’s and current trade stream  .

First week is free.    To follow on twitter look for THE KEANE @chrisfkeane