Tuesday, 21 February 2012

Action Forex

Action Forex

EZ FinMin strike deal on Greek bailout

Posted: 20 Feb 2012 10:45 PM PST

After Euro zone finance ministers exchanged their views on how to resolve the lockout between Greece and the size of haircuts to be taken by its private creditors, at almost 3 am in Brussels they appear to have reached a deal that will see Greece being financed by 130 billion euros as they plan to reduce its debt to GDP ratio to 121%. More details coming soon. EUR/USD had a spike towards 1.3290 from session lows

AUDUSD continues its sideways movement

Posted: 20 Feb 2012 06:40 PM PST

AUDUSD continues its sideways movement between 1.0628 and 1.0844. As long as 1.0628 key support holds, the price action in the range is treated as consolidation of the uptrend from 0.9861 (Dec 15, 2011 low), and one more rise to 1.0900 is still possible after consolidation. On the downside, a breakdown below 1.0628 will indicate that the uptrend from 0.9861 has completed at 1.0844 already, then the following downw
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