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Forex: EU Decision on Greece Aid Will Decide EUR/USD Break

Forex: EU Decision on Greece Aid Will Decide EUR/USD Break

John Kicklighter, Chief Strategist

Speculation and rumors were running rampant in the lead up to the Euro-area finance ministers meeting Tuesday morning. It is widely believed that the officials will use this occasion to finally approve the long withheld tranche of aid to ailing Greece. That fundamental potential is well timed given EURUSD's position just below resistance at 1.2825 and EURJPY's proximity to a multi-year trendline that defines its bearish drift. The tension is palpable, and volatility is almost certain. What are the potential outcomes? How will the market react to this news? Will this event risk offset the speculative liquidity drain expected with the US holiday? How should we trade this? We answer these questions and more in today's video.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.