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Forex - EUR/CHF, EUR/USD Flows: New Greek Govt to be announced after leaders meet

Nov 09, 2011

Published at 06:45 (GMT) 09 Nov FX NOW! EUR/CHF, EUR/USD FLOWS - New Greek Govt to be announced after leaders meet Markets waiting for new government in both Greece and Italy. Greek PM George Papandreou will meet President Karolos Papoulias (by 1000GMT?) Wednesday, followed by political leaders' meeting.

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The Euro found support at 1.4415/20, daily low, and gained momentum after Wall Street opening, and recovered ground. The pair rose to 1.4465/70, where it found resistance. The EUR/USD currently trades around the same price levels it had at the beginning of the day. “Still and despite short term bullish, long term trend remains intact in the pair” said Valeria Bednarik, collaborator at FXstreet.com. According to her, the pair needs to break below 1.4410 to accelerate the decline on Monday. Despite h...