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Euro Traders still Waiting for Greek Bailout News

Discussion in 'Forex Daily News & Outlook' started by forextrends24, Mar 15, 2010.

  1. forextrends24

    forextrends24 New Member

    Mar 27, 2009
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    Today’s sample of Forex Analysis from ForexHound.com

    The Euro finished lower on reports that a few Euro Region finance ministers are rejecting the idea of a bailout for Greece. Over the weekend ahead of the start of today’s two-day meeting in Brussels, German Finance Minister Schaeuble and French Finance Minister Lagarde downplayed the possibility of a bailout package. This news was contrary to reports last week which speculated on a $41 billion bailout proposal from German and France.

    The failure to obtain financial aid could be a blow to the Greek economy as it tries to implement austere budget cutting measures. Pressure could continue on this currency from the hedge funds who still believe in the demise of the Euro. Additional concerns about the credit ratings of Spain, Portugal, Ireland and Italy are also weighing on the EUR USD.

    Technically, the Euro daily trend is still up, but Monday’s action indicates a correction to 1.3609 may be necessary before new buyers arrive.

    Read full article at ForexHound.com as well more Forex Trading articles including Forex Technical Analysis and Forex Education

    Disclaimer: Trading foreign exchange on the margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore should not invest money that you cannot afford to lose.

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