Tag: Greek DebtSort
A golden cross occurs when a market’s 50-day moving average crosses above its 200-day moving average. We believe conditions have improved since central banks have cranked up the printing presses, which means the recent “golden cross” in the S&P 500 may turn out to be golden for investors.
Reading Material, November 28, 2011 – European Bond Yields and Commentary
ECOFIN (The Economic and Financial Affairs Council) meetings are underway in Poland to discuss and resolve the Eurozone debt crisis. The major topic in the meetings will be the Greek debt and its next installment payment, which is opposed by a couple of EU members without receiving collateral. EUR/USD has dived to the 1.3752 after hitting the 1.3934 high.
EUR/USD breaks the 1.4280 minor resistance line and reaches the 1.4436 high. The Euro rallied on a strong note yesterday as the Euro Zone agreed to a 2nd Greek bailout. Intraday bias has changed to the upside, since the currency pair was able to maintain its price action above the 1.4280 minor resistance line.
The Greek debt saga has been ongoing for months now and the uncertainty is building up. We have street protests in Greece against the Government measures of raising taxes and deep spending cuts. The European Union is not bluffing this time, it wants Greece to take serious steps if it’s looking for a new bailout package.