What Happened To EURO Today?


Greece got a 45 Billion Euro rescue package at 5% interest rate, which is below the 6.98% rate.  As reported in the Bloomberg Article, managing director of BlueGold Capital Management LLP in London said”

“This is a huge amount,” “This is more than a bazooka. They have gone nuclear on the issue of Greece. In the short run the market is short Greek assets so we’ll get a rally in those.”

For more on the article from Bloomberg, click here

With respect to this news, I’m very confident that we’ll see the following in this week, or at the very least, early next week:

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1. EUR/GBP will trade above 0.9000

2. EUR/USD should break 1.3700 and head towards 1.4000

With the issues in Greece resolved, market will once again be confident in the EURO, and in term we should see risk appetite returning to the market, but the focus should be on Euro recovering from the last few months of sell off pressures… I wouldn’t be surprised to see EUR/JPY above 135 or EUR/USD above 1.40 anytime soon.

Henry

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Avatar of Henry Liu About Henry Liu

My name is Henry Liu and I am a Forex Trader and Mentor. I help traders achieve consistent income trading Forex while spending less time trading. My focus in trading is a combination of Fundamental Analysis, Technical Analysis, and Market Sentiment. Far too many retail Forex traders concentrate on just one aspect of trading, technical analysis, and ignore everything else; it is my goal (and vision) to educate every trader on how to take advantage of news trading and become more balanced traders.

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Comments

  1. avatarAbout Tito says:

    Point well taken, thanks!

  2. avatarAbout Tito says:

    Point well taken, thanks!

  3. avatarAbout Tito says:

    Hi Henry, what about those nasty gaps across all Euro pairs? Do they need to be closed first before the pairs could move confidently upwards?

  4. avatarAbout Tito says:

    Hi Henry, what about those nasty gaps across all Euro pairs? Do they need to be closed first before the pairs could move confidently upwards?

  5. avatarMichael D` says:

    Hey Henry, thanks for the great article, hope to see eur/usd up there soon

  6. avatarMichael D` says:

    Hey Henry, thanks for the great article, hope to see eur/usd up there soon

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