Most of the currency pairs have reversed in comparison to Friday as a result of the news that Greece would be getting financial aid.
Looking at the Trend/Wave/Extreme picture it can be clearly characterized with Euro strength, decline in the US Dollar, while the Japanese Yen still is weakening little by little.
Looking for trading opportunities at this moment may be a bit too late as most of the currency pairs have reached extreme zones same to their current trend direction.
Nevertheless there could be still good opportunities in buying EURGBP and EURAUD.
EURGBP (4 Hours)
It looks like that the EURGBP managed to edge higher as indicated. As the pair has not yet reached overbought region and it can also be seen from the chart that the pair is on the wave UP buying is still possible. Be aware of the 0.8065-0.8080 region as the pair could find some difficulty there in reaching higher.
EURAUD (4 Hours)
This one may be a good opportunity to catch a reversal on an already established long term falling trend and earn a massive number of pips by catching a new trend early. The Trend/Wave/Extreme system Trend indicators are showing the Trend is UP, while the Wave indicators are neutral and conflicting. However the chart pattern shows a clear down trend that has been holding for a while. Given the current strength in Euro combined with the Trend indicators of EURAUD it is possible that the next UP wave may break the falling trend line and a new UP trend may me formed. That would give a really good chance to buy.
Read about the Trend/Wave/Extreme system here.