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2013-07-25 01:30 GMT
Greece one step away from bailout payment
According to the German finance ministry, Greece has completed 21 out of the 22 measures required by the international lenders in exchange for the next bailout payment.
The country still has to implement the “mobility scheme” which involves a transfer or dismissal of 12,500 public workers within a year. The measure is expected to be fulfilled until tomorrow.
Ryan Littlestone from ForexLive believes that the Troika will finally approve the next bailout payment for Greece, despite the impediments: “Seeing as they've never backed down from hand over cash to Greece there's little chance of this episode failing.”
On the back of better-than-expected economic data out of the US Wednesday, Treasury yields rose and forced the greenback higher against other currencies – which forced the EUR/USD lower for a day.
EUR/USD should see more volatility today as more data due out in Europe and the US The EUR/USD cross had its first down session in the last five days Wednesday after better-than-expected housing and manufacturing data came out early in the US session. The EUR/USD was overbought and due for a pullback anyway, but the data just hastened the corrective action. Several potentially market-moving data points are due out Thursday which include the 08:00 GMT release of Germany’s Current Assessment, Business Climate and Expectations surveys. Additionally, US Durable Goods and Weekly Jobless Claims data in the US – both of which are due out at 12:30 GMT.-FXstreet.com
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2013-07-25 08:30 GMT
UK. Gross Domestic Product (YoY)
2013-07-25 12:30 GMT
USA. Durable Goods Orders (Jun)
2013-07-25 12:30 GMT
USA. Initial Jobless Claims
2013-07-25 23:30 GMT
Japan. National Consumer Price Index (YoY)
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2013-07-25 04:53 GMT
EUR/USD rally paused for a day. More upside to come or is correction just starting?
2013-07-25 04:45 GMT
USD/CAD eyes 1.0660 as next target - JPMorgan
2013-07-25 04:30 GMT
GBP/USD holds above 1.53 ahead of UK GDP
2013-07-25 02:57 GMT
USD/JPY slipping Thursday after a bounce on Wednesday; major resistance looms
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EURUSD
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HIGH
1.3221
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LOW
1.31877
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BID
1.32137
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ASK
1.32140
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CHANGE
0.1%
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TIME
08:32:34
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OUTLOOK SUMMARY
Up
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TREND CONDITION
Upward
penetration
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TRADERS SENTIMENT
Bearish
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IMPLIED VOLATILITY
Medium
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MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Recent price acceleration on the upside suggests short-term positive bias. Possible penetration above the resistance level at 1.3230 (R1) is liable to open way towards to our initial targets at 1.3248 (R2) and 1.3264 (R3).
Downwards scenario: Risk of price depreciation is seen below the support level at 1.3197 (S1). A fall below it might prolong medium-term weakness towards to next support at 1.3180 (S2) and any further market decline would then be targeting final support at 1.3162 (S3).
Resistance Levels: 1.3230, 1.3248, 1.3264
Support Levels: 1.3197, 1.3180, 1.3162
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GBPUSD
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HIGH
1.53442
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LOW
1.5305
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BID
1.53378
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ASK
1.53387
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CHANGE
0.17%
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TIME
08:32:35
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OUTLOOK SUMMARY
Up
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TREND CONDITION
Upward
penetration
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TRADERS SENTIMENT
Bearish
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IMPLIED VOLATILITY
High
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Upwards scenario: A violation of next resistance at 1.5352 (R1) might call for a run towards to next target at 1.5375 (R2) and any further appreciation would then be limited to final target at 1.5397 (R3).
Downwards scenario: Possible downside expansion is limited to the next support level at 1.5324 (S1). Break here is required to open way towards to initial targets at 1.5301 (S2) and 1.5278 (S3).
Resistance Levels: 1.5352, 1.5375, 1.5397
Support Levels: 1.5324, 1.5301, 1.5278
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USDJPY
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HIGH
100.456
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LOW
99.876
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BID
99.972
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ASK
99.974
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CHANGE
-0.27%
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TIME
08:32:36
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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
High
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Upwards scenario: Possible upwards formation is limited to resistive measure at 100.06 (R1). A break above it would suggest next intraday target at 100.18 (R2) and if the price holds its momentum we can expect price increase towards to final resistance at 100.30 (R3).
Downwards scenario: In order to prolong downside extension, USDJPY should successfully retest our support level at 99.86 (S1). Below it locates our intraday targets at 99.74 (S2) and 99.62 (S3).
Resistance Levels: 100.06, 100.18, 100.30
Support Levels: 99.86, 99.74, 99.62
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