Monday, 20 February 2012

Action Forex

Action Forex

Markets optimistic on a Greek deal

Posted: 19 Feb 2012 08:48 PM PST

Saving Greece from declaring bankruptcy and provide the ‘broken’ country with a fresh EUR 130 bln fresh bailout may just be hours away, an outcome that may be decided  on the Finance Ministers meet this Monday. Financial markets in Asia opened feeling ‘risk-on’; helping to underpin the bid tone was the approval by Greece’s cabinet on Saturday of a final set of spending cuts reque

EURUSD is facing 1.3026 support

Posted: 19 Feb 2012 07:40 PM PST

EURUSD is facing 1.3026 support, a breakdown below this level will confirm that the rise from 1.2624 had completed at 1.3320 already, then deeper decline towards 1.2624 previous low could be seen. On the other side, as long as 1.3026 key support holds, the price action in the trading range between 1.3026 and 1.3320 is treated as consolidation of the uptrend, and one more rise towards 1.3500 is still possible.
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