EUR/USD broke out of the slow range trading and is dropping sharply, currently at 1.2790. Stop loss orders might have accelerated the fall. The pair is now headline towards the next minor support line. EUR USD Breaks Below 1.28 - Click image to enlarge Euro/dollar got the trigger it needed for another leg down: the last meeting between Greek political leaders and the president ended with no deal. The President of the Hellenic Republic declared that elections will be held in 3 to 5 weeks. The pair is still above the year-to-date lows reached in January: at 1.2623. 1.2770 isn’t a strong support line, as 1.2818 wasn’t. Before the YTD low, further support is found at 1.2663. Earlier, the euro was holding on quite well, thanks to Germany’s surprisingly strong growth. Germany grew by 0.5%, much more than only 0.1% that was expected. This strong growth rate is the reason that the euro-zone escaped official recession. Nevertheless, the euro found it hard to rise due to the Greek uncertainty. Now the situation in Greece is more certain regarding the elections, but uncertain regarding the future. 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 GDP/USD: Trading the British Claimant Count Change May 2012 Kenny Fisher 10 years EUR/USD broke out of the slow range trading and is dropping sharply, currently at 1.2790. Stop loss orders might have accelerated the fall. The pair is now headline towards the next minor support line. [caption id="attachment_35628" align="alignnone" width="610" caption="EUR USD Breaks Below 1.28 - Click image to enlarge"][/caption] Euro/dollar got the trigger it needed for another leg down: the last meeting between Greek political leaders and the president ended with no deal. The President of the Hellenic Republic declared that elections will be held in 3 to 5 weeks. The pair is still above the year-to-date lows reached in January:… Top 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.
