Eur/usd - page 294
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EUR/USD still struggling with 1.1000 as resistance level.
EUR/USD still struggling with 1.1000 as resistance level.
Today we all saw that it was a plan from day one to force Greece out of the EU zone - shameful display of a hypocrisy of EU politicians. And an astonishing lack of imagination of what there actions are going to cause in not so distant future
Lack of politicians can not be substituted with "politicians" : an ars licker is always just that and there is no way how she/he can rule successfully for a long time over a crowd that is losing patience - lies don't work in that case
EUR/USD stays above 1.10 as Greece, Fed rate hike remain in focus
EUR/USD rallied from a minor sell-off one session earlier, as issues related to the Greek Debt crisis and the timing of a potential interest rate hike by the Federal Reserve remained in focus.
The currency pair traded between 1.0975 and 1.1093, before settling at 1.1076, up 0.62%. Since surging more than 2.3% above 1.12 on the penultimate day of trading in June, though, EUR/USD is still down by more than 1.4% over the last week.
EUR/USD likely gained support at 1.0886, the low from June 1 and was met with resistance at 1.1350, the high from June 21.
In Athens, newly appointed Greek finance minister Euclid Tsakalotos outlined a comprehensive set of reforms the nation would adhere to in exchange for a three-year bailout through the European Stability Mechanism. The proposal includes: tax-related reforms, pension-related measures and potential debt relief. Tsakalotos is set to explain the proposal in greater detail on Thursday.
"Greece welcomes an opportunity to explore potential measures to be taken so that its official sector related debt becomes both sustainable and viable over the long term," Tsakalotos said.
Tsakalotos indicated that the release will provide officials from the European Central Bank, International Monetary Fund and European Commission with ample time to review the proposal before Sunday's emergency summit between Greece and its creditors in Brussels. While the meeting is viewed by many European officials as Greece's last opportunity to remain in the euro, it will come eight days before the cash-strapped nation owes a loan repayment of €3.5 billion to the ECB.
"The stark reality is that we have only five days left," European Council president Donald Tusk said in a news conference on Tuesday night. "Until now I have avoided talking about deadlines, but tonight I have to say loud and clear that the final deadline ends this week."
When the Fed released the minutes from its FOMC June meeting on Wednesday afternoon, they showed that the U.S. central bank appeared concerned last month that there would not be a deal between Greece and its creditors at the time of the meeting. Expressing worries that the Greek issues could spill over into European markets and U.S. financial markets, the Fed opted to take a cautious approach on the timing of its first interest rate hike in nearly a decade.
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Yesterday the EURUSD rose and closed near the high of the day just below the 10-day moving average on a narrow range day. The currency is in a clear consolidation mode between a daily resistance at 1.1097 and a 1.0955 Fibonacci level the 50% (support). This consolidation should continue until Friday as Greece prepares for a new and decisive summit scheduled for Sunday the 12 of July.
Interesting to see developments.
Interesting to see developments.
No developments - just false news and politicians seeking for attention blabbing anything they think will be interesting for their electors. They are doing anything they can to get their name mentioned
EUR registered a growth against the USD yesterday, which was able to recover the lost positions during the previous day. The euro rose by nearly 65 pips to a closing price of 1.1075. The session took place in the final values 1.1091 and 1.0973. Yesterday's peak is a major challenge in an upward direction. Before its successful overcome the bears remain in the leading position.
EUR/USD surprisingly climbed more than 100 pips and again rebounds back to 1.1000 support/resistance level of 1.1000 is holding the price.
EUR/USD is consolidating but I think it will likely try to break below 1.1000 again.
EUR/USD pares losses, as Greece offers strict austerity concessions
EUR/USD suffered mild losses rallying late in Thursday's session, after Greece offered major concessions to its international creditors in a last-ditch effort to remain in the euro.
The currency pair traded in a broad range between 1.0991 and 1.1125, before settling at 1.1034, down 0.34% on the session. EUR/USD has see-sawed over the last week, closing in an opposite direction from the preceding session on each of the last six trading days. For the month of July, the euro is down approximately 0.9% against its American counterpart.
EUR/USD likely gained support at 1.0917 the low from July 6 and was met with resistance at 1.1171 the high from July 1.
On Thursday evening, Greece presented a signed copy of an emergency bailout to its troika of creditors three hours before the expiration of a midnight deadline. Under the new proposal, Greece agreed to a strict package of reforms and spending cuts worth up to €13 billion, according to the Guardian. In exchange for the adoption of the austerity measures, the cash-strapped nation could receive approximately €50 billion in short-term funding needed to stave off bankruptcy. The proposal reportedly also includes modest debt-relief for the Mediterranean state, ahead of key repayments owed to the European Central Bank and International Monetary Fund over the next several weeks.
European council president Donald Tusk has advocated for the inclusion of debt sustainability as a provision of the agreement.
The Greek Parliament is expected to approve the proposal on Friday before prime minister Alexis Tsipras heads to Brussels for an emergency summit over the weekend. Tsipras has also called for a meeting of Syriza party lawmakers at 0600 BST on Friday. Officials from the ECB, IMF and European Commission will now assess the revised plan ahead of the extraordinary summit.
During a frenzied week, Germany chancellor Angela Merkel has repeatedly insisted that a haircut or write-off on Greece's substantial debt obligations should remain off the negotiating table. Meanwhile, Tsipras communicated over the phone with U.S. president Barack Obama earlier in the week in an effort to convince Merkel and other top leaders from the euro zone to work feverishly to reach a deal.
Greece will likely lose all emergency assistance from its euro creditors if it's unable to meet a €3.5 billion obligation to the ECB on July 20. In such a case, a Greek departure from the euro will likely increase exponentially.
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