EUR/USD: What happens if Greece says “no”?

On Wednesday the parliament will vote in Athens about the
savings package.

An approval is very likely, but is not sure. A “no” would shake
absolutely the markets, if the insolvency of Greece caused not
necessarily, however.
Some registers could be still probably pulled. At short notice,
however, the euro would come with certainty under strong
sales pressure.
The Trading rank of the last both weeks might tackle the lower
border EUR/USD. This runs with 1.4100 USD.
Should the exchange rate also fall under the brand of
1.4000 USD, they would stand signs on other course
decline technical chart.

Course increase after positive vote

What, however, if the savings package is approved?
Then Greece is saved by no means, time has bought itself.
For the euro this would mean probably upward pressure.
EUR/USD could tackle the opposition with 1.4415 USD and strive
for a break of this brand further upward.
However, this would be supposed only one short-term reaction.
Strikes in Greece and doubt about the penetration ability of the programme could put under pressure the euro quickly again. An investment in EUR/USD offers currently only for traders oriented at short notice, too uncertainly is the situation, also technical chart.

 

Comments are closed.