20 Feb 2015
EUR/USD: Trust has been made in an agreement at Eurogroup meeting
FXStreet (Guatemala) - EUR/USD is currently trading at 1.1400 with a high of 1.1430 and a low of 1.1278.
EUR/USD is changing hands on the press conference that arrived at 20GMT and not 21 GMT as reported by some media sources. Perhaps some of the market went to the pub and have been caught out! But the major is relatively steady, as Monday will be D day as to whether the Greeks come back with something in line with the discussions and agreements made today where there has been some common ground agreed upon finally. Today was about building "trust". starting with an agreement of a bailout extension of four months of which funds can be used for the bank recapitalization of Greek banks offering time ahead for a successful conclusion of a review.
Technically, the Elliott wave count on the daily chart is pointing to a potential 1.1703/86 correction (double Fibonacci retracement) and even potentially 1.2085, but intraday counts are more negative, according to Karen jones, chief analyst at Commerzbank.
EUR/USD is changing hands on the press conference that arrived at 20GMT and not 21 GMT as reported by some media sources. Perhaps some of the market went to the pub and have been caught out! But the major is relatively steady, as Monday will be D day as to whether the Greeks come back with something in line with the discussions and agreements made today where there has been some common ground agreed upon finally. Today was about building "trust". starting with an agreement of a bailout extension of four months of which funds can be used for the bank recapitalization of Greek banks offering time ahead for a successful conclusion of a review.
Technically, the Elliott wave count on the daily chart is pointing to a potential 1.1703/86 correction (double Fibonacci retracement) and even potentially 1.2085, but intraday counts are more negative, according to Karen jones, chief analyst at Commerzbank.