Trading news

Euro – Greece = Good

June 5 is the day we find out whether or not Greece defaults and whether or not it leaves the Eurozone. In the long run, the paradoxical result may be a higher EUR/USD if Greece is taken out of the Euro equation.

We would like to take this opportunity to warn clients that even though the knee-jerk reaction of a Greek default and Euro exit would be a much lower EUR/USD, such a move should be faded. This is because a Euro without Greece takes a lot of the cheapness out of the Euro, without Greece we are left with relatively strong economies and a more or less stable future for the Eurozone because there are no other countries in the Eurozone at risk of being anywhere near a default and leaving the Eurozone.

Whatever happens on June 5 could very well turn out to be a sell-the-rumour and buy-the-fact scenario as we have seen many times during the 5 year long Greek debt tragedy.

The main level for bias continues to be the bull/bear zone at 1.1025 – 1.1072. Below that a decent support to buy into is 1.0802 – 1.0711. Make sure to see our latest trading plan for EUR/USD.

Friday, 29 May, 2015 / 1:00

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : https://www.hiwayfx.com/market-news/euro-greece-good

Trading news

 

GBPUSD On Track To Settle Above 1.3700

The British pound sterling continues to keep a bullish hold. After failing to [...]

Posted on Friday, 22 Jan, 2021 / 12:08 under

Crude Holds Near Highs

The crude market saw a much quieter period of trading this week. Price [...]

Posted on Friday, 22 Jan, 2021 / 12:07 under

Biden To Push Through Stimulus Aid

Greenback Fades as Bears Take Control The US index dropped towards the 90 [...]

Posted on Friday, 22 Jan, 2021 / 12:06 under