FXStreet (Barcelona) – Dale Pinkert in the FXStreet Live Analysis Room, discusses about the key development of the day – Grexit risks, and the outlook for DXY, EUR/USD and GBP/USD.
Key Quotes
“Grexit is the topic of the day. The ECB is holding an emergency meeting on Friday to decide if the central bank will provide more money for Greek banks and avoid a possible full-blown bank crisis.”
“Profit taking in the currency market: EUR/USD fell to 1.1300; GBP/USD traded down to 1.5850; USD/JPY up to 123.10; USD/CAD advances to 1.2250 just ahead of the weekend.”
“The US Dollar index DXY is rebounding from previous lows at 93.50. Live Analysis Room’s anchor Dale Pinkert anticipates a dollar bounce that could take the DXY back towards 95.50 to 96.00.”
“In this framework, the GBP/USD would have a pullback to 1.5550 while the EUR/USD towards 1.1150 before next wave down in Dollar Index DXY to 90.00. So, next upside targets are 1.17-1.20 for EUR/USD; and 1.64 for GBP/USD.”
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