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The EUR/USD  continues to  lose ground  as the markets nervously monitor developments in Greece.  As expected, a meeting on  Monday between European finance ministers and the IMF failed to reach an agreement on Greece’s debt, which  would  have allowed the release of  more funds to Greece under the  bailout agreement. With  the country  expected to run out of funds in a matter of days, pressure is growing on Greece and its lenders to reach an agreement.   In economic news, German ZEW Economic Sentiment  came in  well below the estimate, fuelling concerns about the health of the German economy.

EUR/USD Technical

  • Asian session: Euro/dollar  was down slightly, and consolidated  around 1.2685. The pair  is unchanged  in the European session.
  • Current range: 1.2624 to 1.2690.

Further levels in both directions:    

  • Below: 1.2624, 1.2590, 1.25, 1.2440, 1.2390, 1.2250, 1.2140 and 1.2042.
  • Above: 1.2690, 1.2750, 1.28, 1.2880, 1.2960, 1.30, 1.3030, 1.3080, 1.3140, and 1.3170.
  • 1.2690 is  currently providing weak resistance. 1.2750 is stronger.
  • 1.2624 is the next line on the downside.

Euro/dollar  weaker on  over Greek worries  – click on the graph to enlarge.

EUR/USD Fundamentals

  • 7:45 French Preliminary Non-Farm Payrolls. Exp. -0.2%. Actual- 0.3%.
  • All Day: Euro-zone ECOFIN Meetings.
  • 10:00 German ZEW Economic Sentiment. Exp. -9.9 points. Actual -15.7 points.
  • 10:00  Euro-zone ZEW Economic Sentiment. Exp.  +0.2 points. Actual -2.6 points.
  • 15:00 US IBD/TIPP Economic Optimism. Exp. 53.8 points.
  • 19:00 US Federal Budget Balance. Exp. -113.5B.
  • 20:30 US FOMC Member Janet Yellen Speaks.

For more events and lines, see the Euro to dollar forecast

EUR/USD Sentiment