Dollar Soft as Consolidation Continued, Greece Asked to Have Bigger Deficit Cuts Dollar trades with a soft tone this week so far as Gold extends recovery to above 1100 and stands firm there so far. Nevertheless, movements in the forex markets are generally mild as consolidations continue. European finance ministers told Greece to prepare additional measures for spending cuts and taxes to reduce the massive government budget deficit by 4% point of GDP before seeking Eurozone nations to realize their pledge to help Greece for its debt. Luxembourg Prime Minister Jean-Claude Juncker, who led the Monday talks of European finance ministers, said Greece has agreed to take further action if it looks like it can't hit the target. Greece will report on the progress on March 16 and Eurozone finance ministers would then vote on whether tougher action was needed and "would impose on Greece" extra measures. However, regarding the call for more details about the rescue package, Juncker said it's unwise to have a "public discussion of such instruments". Full Report Here... |
EUR/USD Daily Outlook Daily Pivots: (S1) 1.3572; (P) 1.3602; (R1) 1.3627; More. With 4 hours MACD crossed above signal line, an intraday low is in place at 1.3531 and bias is turned neutral. Nevertheless, short term outlook remains bearish and another decline is still expected as long as 1.3838 resistance holds. Below 1.3531 will target 61.8% retracement of 1.2329 to 1.5143 at 1.3404 first. Break will target 161.8% projection of 1.5143 to 1.4217 from 1.4578 at 1.3076 next. However, considering bullish convergence condition in 4 hours MACD and RSI, break of 1.3838 will indicate that a short term bottom is formed and strong rebound should then be seen to 1.4025 resistance or above. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | NZDUSD | 0.7030 | 0.6964 | +66 | +0.94% | | NZDJPY | 63.12 | 62.68 | +44 | +0.70% | | AUDUSD | 0.8934 | 0.8883 | +51 | +0.57% | | AUDCAD | 0.9353 | 0.9319 | +34 | +0.36% | | EURUSD | 1.3645 | 1.3596 | +49 | +0.36% | Last Updated: Feb 16, 06:10 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Feb 16, 06:10 GMT |
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