11 Feb 2015
EUR/USD: Spikes higher on Greek principal agreement reached
FXStreet (Guatemala) - EUR/USD is trading on the bid at 1.1324 with a high of 1.1336 and a low of 1.1279.
EUR/USD has spiked on the back of the Greek news hitting the headlines where a deal has been reached in principal with Greece staying in the EU bailout program and moving toward and extension. There are little details coming out but more will come from this collaboration on Monday next week. In the mean time, the euro has rallied 44 pips.
Earlier, the dollar had been in demand across the board, sending the euro down from current levels around 1.1330 in a convincing downwards drift. The pair has recently been capped by the 20 day ma at 1.1398 and the initial retracement level at 1.1520 (23.6% retracement of the move down from October 2014). The pair needs to break these levels to be a convincing correction.
EUR/USD has spiked on the back of the Greek news hitting the headlines where a deal has been reached in principal with Greece staying in the EU bailout program and moving toward and extension. There are little details coming out but more will come from this collaboration on Monday next week. In the mean time, the euro has rallied 44 pips.
Earlier, the dollar had been in demand across the board, sending the euro down from current levels around 1.1330 in a convincing downwards drift. The pair has recently been capped by the 20 day ma at 1.1398 and the initial retracement level at 1.1520 (23.6% retracement of the move down from October 2014). The pair needs to break these levels to be a convincing correction.