Good day forex traders.
Masoud is busy today so allow me to give a brief update on the current situation.
The Greek polls resulted in a slim victory for the pro austerity and relief was seen across the markets. A forex gap up was observed.
Solution : ProRealTime
Looking at the EUR/USD chart above we note that the forex gap was short live. Bearish momentum soon overcame the initial rally and the EUR/USD is now headed towards the previous region of 1.245 / 1.24.
While the new Greek government is expected to support austerity, it is reported that easier bailout terms will be sought and this brought about apprehension. Germany’s chancellor was reported to be unmoving of any leeway.
As G20 meetings are underway, close monitoring is advised.
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