Talking Points:
- Greece seems close to caving on demands, seeks loan deal.
- EURJPY, EURUSD triangulate against 21-EMAs, election TL.
- See the February Forex Seasonality report and the implications for the majors.
News about Greece's loan extension have been slowly hitting the wires the past few hours, but there's been little substantive impact on EUR-crosses up to the time of writing. With approval needed by the Eurogroup and possibly a vote by Germany's lower house of parliament, the 'all clear' signal has yet to be given. That said, it appears that Greece's Syriza-led government is backing away from the edge.
See the above video for technical considerations in EURUSD, EURJPY, EURGBP, and USDOLLAR.
Read more: GBP-crosses Given Green Light on Impressive UK Labor, Wage Data
--- Written by Christopher Vecchio, Currency Strategist
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