Greece to receive first batch of financial aid today!!

BBC News report that today will be the first batch of the financial to Greece which amounted of €20 billion euros from the total of €110 billion euros. Partly €14.5 billion from the Euro zone member states and the rest from the IMF.



Here comes again our main concern of the impact of the monetary aid may stir temporary turbulence on the EUR-USD trend movement. Despite of all the indicators signal support for long-term bearish continuation, this fundamental data can twist the market for significant correction. If the correction is very strong there might be a shift in direction from bearish to sideways.



Our temporary analysis goes as follow:



Daily Time Frame:

MACD = Down

Stochastic = Down

Bollinger Band = Bottom

Summary = Support bearish continuation



Weekly Time Frame:

MACD = Down

Stochastic = Down

Bollinger Band = Bottom oversold

Summary = Support bearish continuation and also correction due to oversold



Monthly Time Frame:

MACD = Down

Stochastic = Down

Bollinger Band = Bottom

Summary = Support bearish continuation



Chart formation: Double top support bearish continuation in the long-term (monthly time frame) chart.

Fundamental: Euro zone - Greece financial aid: Either strong or permanent correction.

Breaking News - Euro breakup talks!!

The Greece financial crisis and the spiraling impact on other fellow members of the European union has led to the growing speculation of potential disintegration of the Euro currency. An estimated of 860 billion-euro debts total combined from all the European Union led by Greece is big financial dilemma that seems to have no solutions at the moment.



Based on Bloomberg report the main reason caused this problem is the uncontrolled taxes and spending among some of the European Union country members which led to mounting debts.



If the integration of Euro indeed happen this would be a historical failure of one of the greatest idea in Europe financial history. And in fact the Quote for EUR-USD that we all love the most will no longer exist in forex trading.



I just hoping that all European Union members will find out a good solution to this problem and maintain the stability of Euro. This is because EUR-USD is the most stable and highly predictable to trade in forex.



Original Article Source: Bloomberg.com