An all night session of the Eurogroup with the IMF resulted in scheduling another session for Monday, November 26th, as the sides weren’t able to agree on means to lower Greece’s debt, as well as the long term goals. EUR/USD, that had a success already priced in, dropped like a rock. The IMF continues insisting that without a debt reduction for Greece, its debt remains unsustainable. The IMF could even leave Greece and the troika. At this point, it means that euro-zone governments will have to accept losses on money lent to Greece, and this isn’t Merkel’s game plan. These were meant to be loans, that would even yield a profit, not a loss of German taxpayers. The ministers of the Eurogroup want to settle for easier terms such a lower interest rate on loans to Greece, and a delay in reaching the goals: 120% debt to GDP in 2022 rather than 2020. No magic solution was found during the long night. When the meeting ended, EUR/USD plunged from the highs of 1.2821 to 1.2836 before stabilizing on lower ground. EUR USD Down After Failed Eurogroup – Click image to enlarge 1.2750 serves as weak support, followed by 1.2690. 1.28 is weak resistance, with 1.2880 sitting in the distance. For more, see the EUR/USD forecast. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Best hours to trade for those who hate surprises Yohay Elam 11 years An all night session of the Eurogroup with the IMF resulted in scheduling another session for Monday, November 26th, as the sides weren't able to agree on means to lower Greece's debt, as well as the long term goals. EUR/USD, that had a success already priced in, dropped like a rock. The IMF continues insisting that without a debt reduction for Greece, its debt remains unsustainable. The IMF could even leave Greece and the troika. At this point, it means that euro-zone governments will have to accept losses on money lent to Greece, and this isn't Merkel's game plan. These… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
