EUR/USD – Limited Rally After Greek Deal Announced
by, 02-21-2012 at 05:42 AM (568 Views)
Euro dollar is close to the resistance level seen yesterday and unable to break higher for now. The pair fell as negotiations in Brussels were dragging late into the night, and it leaped back up when a deal was announced. Greece will get a second bailout program worth 130 billion euros and is expected to follow the plan successfully. Celebrated EU summits haven’t been followed through with successful implementation so far. Private investors were squeezed a bit more in order to reach a better debt ratio: 120.5% in 2020. The troika report came out into the open and threatened to bring negotiations down. The IMF contribution is still to be decided upon. US traders are returning from a holiday. Will they boost the euro? Or will optimism fade away?
Here’s an update on technicals, fundamentals and what’s going on in the markets.
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