Friday, 2 March 2012

Action Forex

Action Forex

EU fiscal pact signed by 25 Member States

Posted: 02 Mar 2012 07:47 AM PST

During the second day of the summit EU officials discussed mainly the way to reconcile budget cuts with the need to boost economic growth in the area. The decision on increasing the European rescue fund however was postponed until the end of March. All EU nations except for the UK and the Czech Republic signed the fiscal pact on Friday. The treaty imposes stricter rules on debts and deficits, which need to be ens

AUDUSD stays above a upward trend line

Posted: 01 Mar 2012 06:42 PM PST

AUDUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.0596, the fall from 1.0855 is treated as consolidation of the uptrend. As long as the trend line support holds, uptrend could be expected to resume, and one more rise towards 1.1080 previous high is still possible. Support is at 1.0714, a breakdown below this level will indicate that the rise from 1.0596 is complete, then deeper

Greek bailout to be approved after debt swap

Posted: 01 Mar 2012 12:50 PM PST

Following a meeting with euro zone finance ministers in Brussels, Eurogroup President Jean-Claude Juncker said that Greece has taken all the legal action required to secure a second bailout from the euro zone countries, paving the way for the first tranche to be paid out by March 20. However, the Eurogroup said in a statement that the disbursement of the EFSF bonds and final approval of the second bailout package
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