Safe To Sell EUR In The Hole?

By MarketPulse FX:
By Dean Popplewell
The former Greek Prime Minister’s latest remarks have the EUR bears chasing their selling orders, dragging them down from above 1.28 to place them into the wilds of the 1.27 highs. It seems that for the potential EUR bull candidate, the application of risk is both a fleeting and daunting undertaking. Just when you are about to buy into that specific trading reward strategy, an ill-timed exit statement by an ex-Hellenic leader, has the EUR bears sitting more comfortably ahead of today’s all-day EU Economic Summit. Greece has no choice but to stick with a painful austerity program dictated by its lenders or face an exit from the eurozone that would destitute the economy, send inflation soaring and generate new social ills. The everlasting reaction has managed to push the EUR to new two-year lows this morning. It is worth remembering that many other high-yielding currencies faredComplete Story »