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Trading Video: Greece Finds Solid Footing, The Euro Does Not

Trading Video: Greece Finds Solid Footing, The Euro Does Not

John Kicklighter, Chief Strategist

Talking Points:

• Following Greece's approval of this past week's agreed-upon reforms, a bridge loan and ELA were offered

• Despite the diminished existential risk to the Eurozone; EURUSD, EURGBP and EURJPY continued to slide

• The rally in 'risk' trends is losing its fuel while the Dollar, Pound and Aussie Dollar shape setups

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The fear surrounding a Greek crisis and Eurozone rupture is deflating quickly, yet the Euro continues to lose ground. Lingering fear is a factor in the retreat, but a weak showing from the currency through one of its 'best outcomes' offers a skewed outlook for one of the majors. Meanwhile, the more systemic influence this relief may offer the broader financial markets is feeding a short-term speculative drive that has become common place in 2015. Just as familiar is the quick stall typical of the 'tactical' mentality of this market. As the dominant headlines ebb, we find the more active players - Pound, Aussie Dollar, Kiwi Dollar - projecting unique opportunities. We take stock of the markets in today's Trading Video.

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

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