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EUR/USD– Euphoric Jump on Spanish Bailout Losing Charm

, 06-11-2012 at 05:25 AM (364 Views)

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 ranges in recent weeks. Will markets see this as a significant change in handling the crisis, or is it just another short opportunity?

Here’s an update on technicals, fundamentals and what’s going on in the markets.

Read the rest of the article [B][I][URL="http://www.forexcrunch.com/eurusd-june-11-euphoric-jump-on-spanish-bailout-is-limited/"]EUR/USD– Euphoric Jump on Spanish Bailout Losing Charm[/URL][/I][/B]

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