The German constitutional court said its word about the ESM bailout fund, in a long awaited decision. The judges in Karlsruhe generally enabled the ESM, but set some conditions. A cap €190 billion euros is set. If Germany is to enlarge its liabilities, the parliament must approve it separately. EUR/USD is initially reacting with a small slide. Update: After the judges concluded their reading, the euro is now on the rise. Update 2: For now, 1.29 is a cap. The judges took their time with reading out the decision. EUR/USD fell to 1.2815 before recovering. It is now sliding again in this range. The German president can now sign the ESM into law. There must be a cap on the ESM. The judges also rejected the complaint against the ECB’s bond buys. Draghi can begin using the OMT. Peripheral bond yields are falling in expectations that Spain will ask for a bailout and the ECB money will begin flowing. The decision is critical for the debt crisis, the euro, and the whole global economy. For more on this critical event, see All Eyes on Karlsruhe EUR/USD was trading on high ground, reaching 1.2883 before retreating. Resistance is at 1.29 and support is at 1.2814 – a line that was stubborn resistance before it was broken yesterday. For more lines, events and analysis, 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 UK Jobless Claims Plunge. GBP/USD Breaks Higher Yohay Elam 11 years The German constitutional court said its word about the ESM bailout fund, in a long awaited decision. The judges in Karlsruhe generally enabled the ESM, but set some conditions. A cap €190 billion euros is set. If Germany is to enlarge its liabilities, the parliament must approve it separately. EUR/USD is initially reacting with a small slide. Update: After the judges concluded their reading, the euro is now on the rise. Update 2: For now, 1.29 is a cap. The judges took their time with reading out the decision. EUR/USD fell to 1.2815 before recovering. It is now sliding again… 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.
