EUR/USD: Eurozone member Greece faces Presidential elections

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Thread: EUR/USD: Eurozone member Greece faces Presidential elections

  1. #1
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    Default EUR/USD: Eurozone member Greece faces Presidential elections

    EUR/USD: Eurozone member Greece faces Presidential elections
    As trading volumes are expected to remain light this week the single currency hovers close to two-year lows against the greenback. Political instability in Greece comes to front news again as today Greece faces a vote in parliament later today that will decide whether its leading coalition can get enough votes to elect a president. The Euro could take off of its lows providing ruling coalition?s candidate Stavros Dimas receives 180 votes in parliament to become president as then Greece can continue negotiations with its creditors.

    Technically speaking, the last several trading days showed that market participants are happy to sell EURUSD on pullbacks. The momentum of the strong dollar is likely to continue in the last days of the year. As the pair is traded (1.2190) near the resistance at 1.2220, a break could see the pair heading towards 1.24 (H4SMA200). The same resistance can attract sellers and lead the pair falling to 1.2050 to test 2012?s low.

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    in ro ham eslah kon:
    The pair moved down a bit with a bit positive move in the end , it seems that its going to be choppy, but there is enough support at this level.

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