The EU has supported Greece

July 17, 2015

Buy on a level breakthrough of 1.0915 with 1.1000 target. Stop loss = 1.0865.

Reason for the trading strategy

The allocation of 7 billion euro to Greece by the EU and the ECB's raising of credit limit for Greek banks by 0.9 billion euros in the framework of the ELA program has reduced the yields on 2-year Greek bonds from 27.2% to 24.4%. So on July 20, Greece will be able to pay 3.5 billion euros to the ECB. The news is positive for the euro. Despite its decline in the near future, we concede that it is going to grow above the $1.0915 level.

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