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2012-11-21 03:51 GMT
EU Finance Ministers fail to agree on Greece; Talks to resume on Monday
The European finance ministers failed to reach any conclusive decision on Greece after a 10+ hours meeting in Brussels, which came to a conclusion well into the night at around 4am. Details will not be released and the press conference was canceled.
Luke Baker, Reuters bureau chief in Brussels, notes: "After more than 10 hours of meeting, German Finance Minister Schaeuble said euro zone finance ministers couldn't reach an agreement on Greece. Euro Finance Chiefs will continue talks on Monday..."
Earlier on the Asian session, Reuters was out reporting on a Eurogroup document laying out details on Greek debt, which is seen at debt to GDP of 144% in 2020, 133% in 2022, 111% in 2030, noted Mr. Baker. Current Greek debt level stands at 170% of GDP. Bloomberg reported that target of reaching debt sustainability may be postponed to 2022. One of the measures under discussion is suspending for 10 years interest payments on loans provided to Greece by the European Financial Stability Facility (EFSF), Reuters reported citing an unnamed official. It is thought that even combined elements "would still fail to reduce the overall debt-to-GDP ratio to 120% by 2020, the level the IMF has deemed as 'sustainable' " Bloomberg notes. Speculation is that IMF may remove itself from any Greek bailout programs if the 120% threshold can not be reached.-Fxstreet.com
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2012-11-21 09:30 GMT
United Kingdom. Bank of England Minutes
2012-11-21 13:30 GMT
United States. Initial Jobless Claims
2012-11-21 14:55 GMT
United States. Reuters/Michigan Consumer Sentiment Index
2012-11-21 15:00 GMT
United States. Leading Indicator
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2012-11-21 05:46 GMT
GBP/USD peels back to 1.59 ahead of BoE Minutes
2012-11-21 05:32 GMT
EUR/GBP; 1-month already dealing around the 0.80 figure
2012-11-21 05:08 GMT
EUR/AUD turns lower toward 1.2300
2012-11-21 04:18 GMT
AUD/USD sinks on Eurogroup dissapointment
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EURUSD
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HIGH
1.2822
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LOW
1.27364
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BID
1.27527
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ASK
1.27533
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CHANGE
-0.5%
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TIME
08:01:43
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OUTLOOK SUMMARY
Down
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TREND CONDITION
Downward
penetration
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TRADERS SENTIMENT
Bullish
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IMPLIED VOLATILITY
Medium
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MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EURUSD formed retracement formation today, turning intraday bias to the negative side. Our next resistance level for today is hold at 1.2774 (R1). Rise above it might open route towards to next targets at 1.2788 (R2) and 1.2803 (R3).
Downwards scenario: A break below the fresh low at 1.2736 (S1) would allow bears remaining in play on the medium-term perspective. Next targets could be found at 1.2720 (S2) and 1.2705 (S3).
Resistance Levels: 1.2774, 1.2788, 1.2803
Support Levels: 1.2736, 1.2720, 1.2705
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GBPUSD
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HIGH
1.59285
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LOW
1.58998
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BID
1.59046
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ASK
1.59051
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CHANGE
-0.12%
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TIME
08:01:44
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OUTLOOK SUMMARY
Down
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TREND CONDITION
Downward
penetration
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TRADERS SENTIMENT
Bearish
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IMPLIED VOLATILITY
Medium
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Upwards scenario: A move above the resistance level at 1.5912 (R1) might drive market price towards to next target at 1.5921 (R2) and any further rise would then be limited to resistance at 1.5930 (R3).
Downwards scenario: Hourly chart correction remains in power today. Next barrier locates at 1.5894 (S1). Loss here might enable further bearish pressure and downgrade Cable towards to expected targets at 1.5886 (S2) and 1.5877 (S3).
Resistance Levels: 1.5912, 1.5921, 1.5930
Support Levels: 1.5894, 1.5886, 1.5877
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USDJPY
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HIGH
81.974
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LOW
81.654
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BID
81.913
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ASK
81.917
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CHANGE
0.29%
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TIME
08:01:46
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OUTLOOK SUMMARY
Up
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TREND CONDITION
Up
trend
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TRADERS SENTIMENT
Bearish
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IMPLIED VOLATILITY
Medium
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Upwards scenario: USDJPY gained momentum on the positive side and formed fresh high today, which is our key point for further market gains. Strengthening above the resistance at 81.97 (R1) would enable expected targets at 82.14 (R2) and 82.29 (R3).
Downwards scenario: Retracement development is limited to the next support level at 81.70 (S1). Clearance here would open road towards to possible targets, located at 81.53 (S2) and 81.35 (S3).
Resistance Levels: 81.97, 82.14, 82.29
Support Levels: 81.70, 81.53, 81.35
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