Forex: What to Expect from EUR/USD and Risk After Greece Decision
The market was eagerly awaiting the release of the details behind the European Union's solution for Greece's funding needs early Wednesday morning. EURUSD and other risk-sensitive currency pairs slowed their recovery as the market faced the imminent release of the news. With technical levels so prominently carved and the chance of a large swell in volatility within reach, many traders have set their expectations for the development of a new and persistent trend. However, it is virtually impossible to develop a lasting trend when underlying market conditions cannot provide the levels of participation needed to carry such a move. We discuss volatility versus follow through in today's video with EURUSD at the center of the conversation.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.