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 stabilized thanks to refreshing German flexibility: the EFSF bailout fund will be able to buy bonds directly. The exact manner of how this will work is still to be seen. Spanish stability is also critical for Italy. Greece managed step back from the headlines after pro-bailout parties won the elections and formed a new government. However, Greece is far from meeting the targets, and a renegotiation of the terms may lead to a third bailout, if not the dreaded Grexit. Europe is not alone in its troubles: also the US economy is struggling and no magic QE3 is in sight.
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/eurusd-outlook-june-25-29/"]EUR/USD Outlook June 25-29[/URL][/I][/B]
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