S&P raised Greece's credit rating

July 22, 2015

Buy on a level breakthrough of 1.0968 with 1.1036 target. Stop loss = 1.0918.

Reason for the trading strategy

Yesterday the EUR/USD currency pair tested its May low of 1,081 and grew by 1.06% on the day. The S&P agency brought good news to the euro buyers by upgrading Greece's credit rating from "CCC-" to "CCC +" with a "stable" forecast. The rating's upgrade was due to the financial support provided to Greece by the European lenders. The Greek government may receive 86 billion euros from them in the next 3 years However, S&P shares the opinion of the IMF and notes that Greece's financial obligations seem unfeasible in the long term.

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