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Traders appear to be sidelined to start the week as Finance ministers are meeting to discuss the releasing of the next aid package to Greece.  A positive outcome already appears to be price in to the markets.  Any disappointment could send the majors lower.  When and if a Greece solution is delivered on Monday could be the spark needed to jump-start the majors out of their current consolidation patterns.  Economic data is light on Tuesday in Asian and Europe.  GBP GDP report will be the highlight with expectations of a 0% reading year over year.  As always remember to keep your trades KEANE.

EURUSD WAITING ON FINANCE MINISTERS

It has been a slow day of trading for the EURUSD and most of the majors on Monday.  Traders appear to be sidelined waiting for a Eurogroup resolution regarding Greek aid.  It appears that a positive results has already been cooked in.  Resistance rest just above between 1.2995 and 1.3020.  A break of this level could lead to a test of the 1.3180 region.  Support now begins at 1.2885.

Sup    1.2885

Res   1.2995/1.3020

GBPUSD WALKING A THIN LINE

The GBPUSD is traveling in a tight range between 1.60 and 1.6050.  It will take a break of this range to start things moving.  A break to the top side opens up support around 1.6180/1.62.  A break below 1.60 could lead to a retest of Fridays spike higher around 1.59.

Sup   1.60             1.59

Res    1.6045

Keane Plan…Looking for a break of the consolidation zone between 1.6045 and 1.60

AUDUSD HANGING AROUND THE HIGHS

The AUDUSD has been consolidating near Friday’s highs for the majority of the day.  Which could signal another test of the 1.0480/1.0520 resistance zone.  Support currently begins near 1.0350.  Consolidation within the current range could be in the works this week.

Sup            1.0350                   

Res             1.0480/1.0520

Keane Plan…..Looking to play the range.

NZDUSD DRIFTING LOWER

Not much conviction for the NZDUSD cross to start the week.  Strong daily support rest slightly lower around .82.  Buyers could emerge ahead of this level.  A break back below support at .82 opens up last weeks range once again.  Targeting a move towards .81.  Resistance currently begins around .83.

Sup            .82                        .81

Res             .83

Keane Plan….Watching price action around the.82 level.

USDJPY CONSOLIDATION IS THE GAME

The USDJPY has been consolidating its recent gains over the last few days.  Resistance now begins at 83.20.  Support  begins at 81.85,  A break of this level would open the pairs up to a nice test of strong daily support between 80.60/81.  Buyers could emerge around these level.

Sup              81.85                            81/80.60

Res              83.20

Keane Plan….Would like to see a pullback towards 81.  to consider going long

USDCAD CLAWING BACK FRIDAY"S LOSES

Since the start of trading this week the USDCAD has slowly given back its profits from last Friday.  Key resistance has held at .9950.  A hold or break of this level will be key.  A break above .9950 open up the range from last week once again and a test of parity could be in the cards once again.  It would take a break of .9920 to open the pairs to further loses towards support at .9870.

Sup             .9920                  .9870

Res            .9950                    1.00

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Keane Plan….Waiting for a break of either .9950 or .9920…