Crunch Time (again) For Euro

Morning Report: 08.30 London

• It’s crunch time (yet again) for the euro as the creditors try to play hardball against Greek demands for leniency. The euro remains unmoved so far this morning, but this is likely due to traders waiting to see how events play out.

• The dollar index has a positive bias, while the S&P 500 is nipping back slightly.

• There’s a general lack of movement this morning with the yen pairs experiencing a very slight negative bias.

• The dollar pairs are similarly unmoved, though the NZD/USD is leaning towards more downside.

                                                                                                                                                                                                                              
Coming up today:

• Coming up today we have US PPI at 13.30, followed by preliminary UoM consumer sentiment at 15.00.

Trade Idea:

The euro is stuck in as quagmire, but this is unlikely to last as negotiations come to a head.

                                  
             
A good way to play this is an In/Out trade predicting that the EUR/GBP will close outside of 0.75000 or 0.70000 in 80 days time for a potential return of 116%.

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Summary: