Euro/dollar closed the month with a bang, rising from the abyss to high levels as hope from the EU Summit took over any doubts. Are we set for more gains? Or will the rally fade out as in past summits. The rate decision is the main event of this week. Will the ECB finally cut rates?Here is an outlook for the upcoming events and an updated technical analysis for EUR/USD.

Germany…

EUR/USD leaped around 200 pips on the announcements made in the EU Summit. The decision to give an equal status to the bailout funds and avoid the scenario of the Greek subordination is definitely good news. The direct bank recapitalization decision is still full of holes, big ones. There are quite a few indicators on the agenda, but the EU Summit digestion and another topic rule…

EUR/USD broke out of yesterday’s (June 27th) narrow range, as the market mood soured prior to today’s EU Summit. The European leaders have plenty of pressing topics to discuss, starting with the alarming fiscal crises in Greece and Spain. As with other grandiose meetings, there is a lot of skepticism if any concrete measures will be announced. There was more bad news as German CPI…

EUR/USD continues to trade in a narrow range, as investors stay cautious ahead of the EU Summit on Thursday. The financial crises in Spain and Greece will be at the center of attention, but the European leaders will be discussing a range of topics, including the possibility of a cross-border banking union and closer integration of their budgets. Wednesday started off poorly with…

EUR/USD  is showing some choppiness, reflecting market nervousness. At an EU summit scheduled later this week, European leaders will be discussing a range of topics, including the possibility of a cross-border banking union and closer integration of their budgets. Meanwhile, the Moody’s ratings agency downgraded 28 Spanish banks on Monday, which is putting further pressure on the…

EUR/USD started the week with a minor gap for a change, but the direction afterwards remained the same: downwards. The pair lost another support line after expectations from the EU Summit fell once again. Yields on Spanish and Italian bonds change course rise once again. With the risk off mood in control, more doubts about Chinese strength emerged over the…

USD/JPY climbed nicely and managed to close the week higher reaching the highest levels in a month. Will this trend continue?  Retail sales and Tokyo Core CPI are the major events on out menu this week. Here’s an outlook for the Japanese events and an updated technical analysis for USD/JPY.

The …

Euro/dollar reached out to new highs after the Greek elections but couldn’t hold on to them, eventually ending lower.  The EU summit is the main event of a busy week, and hopes are high. Will we see another disappointment that will send the pair lower? Here is an outlook for the upcoming events and an updated technical analysis for EUR/USD.

Spanish yields made new records and they…

EUR/USD fell to support and stalled for a while. It now resumes the downfall. It took the markets some time, but they finally digested that the Federal Reserve is no rush to print. This is also felt in a breakdown of oil price. The global slowdown is helping the dollar. In Europe, the assessment about Spanish banks’ needs seems short of mark, and so does the highly discussed German…

EUR/USD was steady, despite disappointing German PMI data on Thursday. There was good news out of Greece as a new coalition government was sworn in, just days after the election. The Federal Reserve opted not to implement further QE, but did state that it was extending Operation Twist.There a host of releases out the Euro-zone and the US today, notably US Unemployment Claims and US…

After starting the week poorly,EUR/USD recovered yesterday (June 19th), gaining close to one cent. The markets are hoping that the Fed will announce some monetary easing measures today. There is plenty of news in the Euro-zone as well. In Greece, a coalition talks to form a new government are underway. Spain continues to dominate headlines, with bond yields at dangerous…

EUR/USD lost some ground after its gains following the victory of pro-bailout parties in Greece (June 18th). While hurdles to forming a coalition will likely be overcome, the troubles in the euro-zone are far from over. The focus has quickly shifted to Spain, where bond yields remain at dangerous levels, and the announced bailout might already be too small. It seems that without…

EUR/USD kicked off the week with flying colors, riding on the victory of pro-bailout parties in Greece. While hurdles to forming a coalition will likely be overcome, the troubles in the euro-zone are far from over. The focus quickly shifts to Spain, where bond yields remain at dangerous levels, and the announced bailout might already be too small. It seems that without central bank…

EUR/USD continued its gradual rise and is now battling strong resistance. There are reports about secret polls in Greece which point to a victory of the pro-bailout New Democracy party. This speculation could eventually turn into a short opportunity as results emerge early on Sunday. Yet again, US figures weren’t so good, but not enough for QE3. Also the ECB isn’t likely to move.…

EUR/USD rose yesterday (June 13th), following weak PPI and Retail Sales releases out of the US. Analysts and traders will be keeping a close watch as events unfold in in Greece and Spain. The second round of the Greek election will be held on Sunday, and the outcome could determine whether Greece remains in the Euro-zone. The bailout for Spain may be a done deal, but uncertainty…

EUR/USD continues to trade in a tight range, as the markets continue to focus on events in Greece and Spain. The second round of the Greek election will be held on Sunday, and the outcome could determine whether Greece remains in the Euro-zone. Spain will be getting a handout, but uncertainty remains as the details of the bailout are unclear. To add to this volatile mix, Italian…

The markets gave an initial thumbs-up to the weekend announcement of the Spanish bank bailout, but the euphoria quickly evaporated, asEUR/USD plunged almost two cents yesterday (June 11th). This declaration lacks details and the timing shows that it is a move intended to contain possible fallout from the next weeks’s elections in Greece. To add to this volatile mix, Italian…

EUR/USD opened the week with an impressive weekend gap, after the announcement of a bank bailout for Spain worth 100 billion euros. This declaration lacks details and the timing shows that it is a move intended to contain the fallout from the Greek elections. Italian issues are still on the agenda. After the initial jump, the pair is now below the critical line that separated…

EUR/USD continues falling and is now below low support, following the rising uncertainty about the Spanish banking system. The euro-area’s fourth largest economy could be a favorite to win another European trophy in football, but its economy is an a race to the bottom. Spain is waiting for an external report on the banks and is unwillingly making a U-turn regarding external aid. This move continues Bernanke’s refusal to hint on QE. He even said that there are “diminishing returns” on this.…

EUR/USD is trading higher, in anticipation on some solution for Spain and hopes for hints about more QE in the US. As widely expected, the ECB did not lower interest rates on Wednesday. The markets were hoping for a reduction of 0.25%, although few were surprised that rates stayed put. After the interest rate decision, ECB head Draghi again called upon the EZ governments to take…