Forex Flash: EUR/USD risks big retraction if no consensus deal on Greece – TD Securities
Forex pairs in this Article » EUR/USD
FXstreet.com (Barcelona) - The Eurogroup meeting is the main attraction of the day, but the record low reading for the Italian consumer confidence indicator should concern investors, distracted by the Troika-Greece talks. "A positive outcome on the Greece appears almost fully expected, although some lingering doubts could see a minor lift to the EUR and other risk currencies upon confirmation. If we do not get consensus from that meeting today,we expect a bigger retraction for risk", wrote analysts Shaun Osborne and Greg Moore, pointing to 1.30 as the pretty clear topside level to watch today. "Above there, the 1.3060/70 area is the neckline to a big head and shoulders reversal on the weekly charts", they wrote.