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Forex: EUR/USD Fails to Overtake 1.3000 after Greece 'Rescued'

Forex: EUR/USD Fails to Overtake 1.3000 after Greece 'Rescued'

John Kicklighter, Chief Strategist

Finally, Eurogroup officials and the IMF have accepted terms to the next steps in Greece's rescue...though you wouldn't think that was the case looking at EURUSD. Both the Euro and risk trends were briefly lifted following news that Eurozone's most troubled member could eventually receive 43.7 billion euros after a serious of gauntlet of conditions were met and time spent to assess. Yet, traders quickly recognized this as the same vow for support without immediate action that they had seen so many times before. This may not be the end to this fundamental development, but the first look is not encouraging. We discuss the Euro-area crisis and broader risk catalysts moving forward as well as trade conditions for the various scenarios in today's video.

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