Two decisions regarding Greece are awaited. Greek CDS is not triggered, at least for now. This isn’t the last call. The second question relates to the approval of the Greek bailout. Also here, it seems that leaders will wait. The clock doesn’t wait, and EUR/USD tests lower support in the meantime. ISDA, the organization that decides whether credit events are triggered or not, was asked a simple question: does the fact that the ECB will get all the money on its Greek bonds and the rest won’t, mean that the there was a material breach of the bond contract? EUR/USD Down to Support - Click to enlarge The straight answer is YES. Nevertheless, the answer of ISDA was a a unanimous NO. Well, no payment was denied. Not yet. The results of the bond swap are still awaited. ISDA did leave the door open to changes, when “new things come to light”. This could be soon. So, no credit event for now. Finance Ministers Meeting Greece passed fresh laws earlier in the day, regarding reforms in the health sector. This is part of the “prior actions” demanded in the February 21 agreement on a bailout. According to Greece, it complied and should get the final approval for the funds. According to the Dutch finance minister Jan Kees de Jager, this isn’t certain. He said that a decision isn’t likely today. Greece is awaiting its verdict. EUR/USD doesn’t wait and continued slipping lower. It fell and bounced off the 1.3280 line before recovering and climbing over 1.33. 1.3333 was a battle line that the pair reached yesterday. Further support is at 1.3212. See more lines in the euro to dollar forecast. The clock is ticking towards March 20th, when Greece needs to pay back over 14 billion euros of bonds. It has 7 days of grace until March 27th. Friday, March 23rd, still looks like the optimal time for an announcement of a Greek bankruptcy. 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 US Manufacturing PMI Disappoints – Employment Component Dips Yohay Elam 11 years Two decisions regarding Greece are awaited. Greek CDS is not triggered, at least for now. This isn't the last call. The second question relates to the approval of the Greek bailout. Also here, it seems that leaders will wait. The clock doesn't wait, and EUR/USD tests lower support in the meantime. ISDA, the organization that decides whether credit events are triggered or not, was asked a simple question: does the fact that the ECB will get all the money on its Greek bonds and the rest won't, mean that the there was a material breach of the bond contract? [caption… 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.