Forex Crunch: EUR/USD Falls as Greek Default Near – Analysis of Merkel’s Dilemma

There’s a report that a secret meeting will be held tonight in Luxembourg to discuss a Greek default. Although unconfirmed, all the signs in the past week led to a restructuring, especially as Greek finally began admitting it can’t pay its debt. EUR/USD more than 100 pips and another support line in one of its worst weeks. Merkel has good reasons to hurry with this move. Update and analysis of the situation. [more...]

 

There’s a report that a secret meeting will be held tonight in Luxembourg to discuss a Greek default. Although unconfirmed, all the signs in the past week led to a restructuring, especially as Greek finally began admitting it can’t pay its debt. EUR/USD more than 100 pips and another support line in one of its worst weeks. Merkel has good reasons to hurry with this move. Update and analysis of the situation.