Some details are coming out of the EU Summit. These are good enough to get EUR/USD back to the previous range, but not satisfying for a convincing breakout. EUR/USD is at 1.3905, back in the 1.39 to 1.3950 range. Bank recapitalization: As expected, around 100-110 billion according to 9% core capital. No surprise. EFSF leverage: The bailout fund will probably reach the very round number of 1 trillion euros. Also this isn’t a big surprise. The details that will emerge about the mechanism can be complicated. A 2 trillion fund would have been more convincing. Greek haircut: Apparently the leaders will meet with the bankers. Can they strike a deal? In any case, a haircut will involve only the private sector and not the official sector. So it’s important to remember that a 50-60% haircut doesn’t mean a reduction of 50%-60% of Greek debt. As Jamie Coleman says, 2 out of 3 is not bad. Well, the 2 successes aren’t full in my opinion, and can limit a move above 1.40. For more about the euro, see the EUR/USD forecast. Earlier the pair took a plunge down to around 1.38 as talks were stuck and a total failure was on the cards. 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 Serious Progress Made in EU Summit – EUR/USD Flirts with Yohay Elam 11 years Some details are coming out of the EU Summit. These are good enough to get EUR/USD back to the previous range, but not satisfying for a convincing breakout. EUR/USD is at 1.3905, back in the 1.39 to 1.3950 range. Bank recapitalization: As expected, around 100-110 billion according to 9% core capital. No surprise. EFSF leverage: The bailout fund will probably reach the very round number of 1 trillion euros. Also this isn't a big surprise. The details that will emerge about the mechanism can be complicated. A 2 trillion fund would have been more convincing. Greek haircut: Apparently the leaders… 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.
