EUR USD Daily Forecast Analysis 06 24 2011 by Sive Morten

http://platforma.zulutrade.com/ EUR USD Daily Analysis 06 24 2011 by Sive Morten .
EUR USD shows nice trust down, and due to fundamental data big retracement, look for opportunity to enter on the short site of the market. Remember that on weekly time frame trend remain bullish.

EUR USD Fundamental Analyses 06 20 2011
The Euro starts a new week and hopes are for some light at the end of the tunnel for Greece to help the EUR/USD unwind from the heavy selling pressure seen last week.
The euro already started to unwind some of the pessimism to the end of last week after Merkel and Sarkozy assured a united German-Franco front on the new Greek bailout to be in line with the Vienna Initiative, which means the bondholders participation will be bound on a "voluntary" basis as the ECB requests, which slightly calmed the jitters.
On Monday, The main focus for the day will still be the Ecofin meeting and any comments from the finance ministers meeting in Luxembourg as the meeting starts late Sunday.
They are expected to discuss the Greek crisis and finalize their stance on the July fifth tranche of loans to Greece of 12 billion euros in total from the EU and IMF from the 110 billion euros bailout provided last year. The passage of the loans will likely help the euro correct some of the losses with the star of the week.
Also, Germany's data will start with the Producer Prices for May at 06:00 GMT. Prices are expected to have remained unchanged following 1.0% rise and on the year to ease to 6.2% from 6.4%.
The Euro area will follow with the April Current Account at 08:00 GMT. The deficit might have widened in April in seasonally adjusted terms from 4.7 billion euros shortfall in March after we saw the trade deficit widen last week more than expected.
More volatility is expected for the pair, yet we see the support from the easing political tension in Greece and the change in the German stance on aid helping the euro continue to adjust and recover some losses, especially as the dollar will be pressured ahead of the FOMC rate decision and expected steady rates.

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