{"id":72276,"date":"2015-05-11T07:00:13","date_gmt":"2015-05-11T11:00:13","guid":{"rendered":"http:\/\/countingpips.com\/?p=72276"},"modified":"2015-05-11T07:04:49","modified_gmt":"2015-05-11T11:04:49","slug":"euro-edges-lower-as-greek-repayment-moves-into-focus","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/05\/euro-edges-lower-as-greek-repayment-moves-into-focus\/","title":{"rendered":"Euro Edges Lower as Greek Repayment Moves into Focus"},"content":{"rendered":"<div id=\"inves-2234463163\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">May 11, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Article by <a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/p>\n<p>EUR\/USD is trading near 1.1155 after an early Europe rebound stalled at 1.1196. The market is bracing for continued stalemate between Greece and its creditors following Monday\u2019s Eurogroup meeting. Greece\u2019s Tsipras is starting to face up to the fact that he won\u2019t be able to fulfil his election promises, and his support at home is dwindling fast. Creditors have been taking a tough line, confident that Eurozone has the policy armaments in place to deal with Grexit. This may mean a referendum or an election will be seen in Greece, which would likely been seen before an actual Grexit scenario.<\/p>\n<p>The uncertainty should keep the euro biased lower. The dollar, meanwhile, has also hit a soft patch. A run of weaker than expected U.S. data has kept Fed tightening at bay, and while April data have been mostly disappointing and this week\u2019s data are expected to feature benign inflation figures and a moderate rise in retail sales, the economy will likely grow out of its Q1 soft patch as the influence of one-off factors abate.<\/p>\n<p>Greece has to repay EUR 750 m to the IMF Tuesday and even if it can clear that hurdle without further help, it will need to convince the ECB that progress is being made in the talks to unlock further ELA funds.<\/p>\n<p>Looking ahead this week, U.S. markets will mull a variety of likely non-threatening inflation and retail data, while digesting the quarterly Treasury refunding. Preliminary regional GDP figures should reveal improvement and gradual recovery, while inflation remains low but on the rise.<\/p>\n<p>Support on the EUR\/USD currency pair is seen near last week\u2019s pivot lower at 1.10.\u00a0 Resistance is seen near the 10-day moving average at 1.1175.\u00a0 Although momentum remain positive the trajectory of the MACD (moving average convergence divergence) index has flattened.<\/p><div id=\"inves-1727714911\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p><a href=\"http:\/\/www.forexcircles.com\/wp-content\/uploads\/2015\/05\/eur-051115.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-7470\" src=\"http:\/\/www.forexcircles.com\/wp-content\/uploads\/2015\/05\/eur-051115-300x196.jpg\" alt=\"eur-051115\" width=\"300\" height=\"196\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-54242 alignleft\" src=\"http:\/\/countingpips.com\/articles-analysis\/wp-content\/uploads\/2014\/07\/Forex-Time-Logo.png\" alt=\"Forex-Time-Logo\" width=\"262\" height=\"90\" \/><strong>Article by <span style=\"text-decoration: underline;\"><a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/span><\/strong><\/p>\n<p><strong>ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 <a href=\"http:\/\/www.forextime.com\" target=\"_blank\">www.forextime.com<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article by ForexTime EUR\/USD is trading near 1.1155 after an early Europe rebound stalled at 1.1196. The market is bracing for continued stalemate between Greece and its creditors following Monday\u2019s Eurogroup meeting. Greece\u2019s Tsipras is starting to face up to the fact that he won\u2019t be able to fulfil his election promises, and his support [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-72276","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/72276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=72276"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/72276\/revisions"}],"predecessor-version":[{"id":72278,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/72276\/revisions\/72278"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=72276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=72276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=72276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}