Cyprus Cancels Tuesday’s bailout vote



Well it looks like this latest EUR melodrama is going to play out for a little while longer. Realizing that he doesn’t have enough votes to pass the bailout and levy proposal tomorrow,

Cypriot President Nicos Anastasiades has canceled Tuesday’s vote. The Central bank of Cyprus has decided to extend the current bank holiday until Thursday.

After the vote cancellation was announced, the EUR dipped to the 1.2930 level but found good support there and is currently trading back near the 1.2960 level.

Support and resistance overnight should remain at 1.2920 and 1.3000, respectfully.

Further reading: EUR/USD weekly forecast


About

Matthew Lifson is a Foreign Exchange Trader and a Market Analyst. with Cambridge Mercantile Group.

No Comments

    Read previous post:
    daily outlook tuesday
    Forex Daily Outlook March 19 2013

    Building Permits in the US and CPI in the UK are the main events lined up....

    Close