30 / 06 / 2015 | Notizie sul mercato

Schaeuble: Greece can Remain in the euro zone

Greece will remain in the euro zone even if the nation’s voters say ‘’No’’ in this week’s scheduled referendum, said Wolfgang Schaeuble, the German Finance Minister, to the lawmakers in Berlin.

In the scenario where the Greeks vote against the terms of the bailout in the referendum, the European Central Bank would do what is necessary to support the euro, said the German Finance Minister.

According to Angela Merkel’s lawmaker, Antje Tillmann, the goal is to keep the Greek nation in the eurozone but it is obviously up to the Greek people whether they wish to stay in the euro region.

Moreover, on Monday, Schaeuble said on ARD television that Alexis Tsipras and the Greek government cannot destroy Europe, and that the EU members will do their best to keep the European economy stable.
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30 / 06 / 2015 | Analisi tecnica

Gold – Bearish Pressures Likely to Resume at 1167.82

North American Session
The metal, since today’s European trading session, has been constantly under tremendous downside pressures.  The price has now stabilized slightly above 1167.82, a major bearish level where the sellers could exert further pressures.
In the scenario where the bears surpass the bulls in trading volume, the price could decelerate as low as 1155.40.
In contrast, in the event where the buyers are able to withhold the metal above 1171.08 and thereafter lead the price close to 1181.06, they could aggresively force the price as high as 1199.03, provided that initially there is a sufficient break above 1181.06.



Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
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30 / 06 / 2015 | Notizie sul mercato

Vamvakidis: The ECB Should Urgently Support Greece

The European currency strategist and the head of the Bank of America Corp., Athanasios Vamvakidis, defined the level of difficulty when advising his clients on their funds, while his homeland, Greece, faces the toughest moments in its financial history.
 
Mr. Vamvakidis highlighted that unless the European Central Bank (ECB) supports the nation’s banking system, all Greek banks will soon run out of cash supplies.
 
He further stated that after July 5, 2015 referendum, the Greek nation may likely, depending on the referendum’s outcome, move to new elections in August aiming for a potential new government.
 
‘’The worst is yet to come’’ said Mr. Vamvakidis, and no matter if Greece gets funded or not, the economy has much greater chances of collapsing.
 
Moreover, the European currency strategist pronounced that the European Central Bank (ECB) has to implement an Emergency Liquidity scheme to prevent a much greater crisis.
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30 / 06 / 2015 | Analisi tecnica

Gold – Major Resistance Zone 1179.18

European Session
The precious metal, after the aggressive upside gap that occurred upon Monday’s trading session opening, retraced to the downside from 1188.00 to as low as 1174.00.
The price is at the moment oscillating slightly below today’s major resistance zone, 1179.18, a level where the sellers could engage in strong downside pressures and force the metal as low as 1165.75.
Alternatively though, in the scenario where the buyers are able to lead the price via an upside break above 1182.71, the metal could escalate as high as 1196.58.



Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
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29 / 06 / 2015 | Notizie sul mercato

All Banks in Greece Non-Operational Till July 6, 2015

The Greek government reported that all the banks of the nation will remain closed till the 6th of July 2015 in an attempt to implement successfully the capital control measures.

Greece’s government published all the details related to such controls as shown below:
  • The banks shall remain closed, including July 6, 2015, starting from June 29, 2015
  • Deposits will be fully protected
  • Pensions and wages will be settled without interruptions
  • All electronic deals via using credit, debit cards and other forms of electronic settlements, such as phone banking and web banking will be fully functional
  • The withdrawal limit from all ATMs on a daily basis will be 60 euros
  • Foreign tourists will not have any restrictions when using the ATMs
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29 / 06 / 2015 | Rapporto settimanale

Greece’s Matter Exerts More Pressure on the Euro

Last Friday the euro traded lower versus other major counterparts, as the Greece’s matter resumes being the major focus, and exerts a lot of pressures on the euro region's currency.
The EUR/USD pair ended the week 0.35% lower, with 1.74% losses, at the price of 1.1164 prior to Friday’s trading session closure.
The Eurozone’s currency traded lower versus the Swiss franc and the yen, with the EUR/CHF and EUR/JPY having approached the 1.0428 and the 138.32 levels respectively.
Furthermore, on Tuesday this week, Greece will have to settle a repayment to the International Monetary Fund (IMF) amounting to €1.6 billion.
In the scenario where the Greek nation is not able to settle its repayment to the IMF it risks and increases its chances of exiting the euro area.
The USD/JPY escalated higher to 123.94, having recorded a rise of 0.17%, with the U.S. dollar closing higher versus the yen even though the pair stabilized lower than 124.37 the weekly high.
This week, traders and investors will once again focus on the Greek matter, after Alexis Tsipras, the Greek Prime Minister, discarded Saturday’s negotiations and called for a referendum on July 5, 2015.
Moreover, traders will be closely monitoring the release of the U.S. employment report scheduled for Thursday.
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29 / 06 / 2015 | Analisi tecnica

Gold – Major Support Zone at 1175.83

European Session
The upside pressures on gold became more tensed after today’s market opening strong bullish gap that led the metal as high as 1188.07.
The price has now stabilized close to 1175.83, today’s major level where buyers could re-enforce their pressures once again to the upside.
In the scenario where the metal appreciates, the buyers could lock their take profit targets at 1188.07 and 1200.30 respectively.
Alternatively, in the event where the price declines, the sellers could force the precious metal as low as 1155.87.



Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
 
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26 / 06 / 2015 | Analisi tecnica

Gold – Bullish Pressures Noticed at 1172.33

North American Session
The metal  stabilized close to the 1172.33 level since today’s European trading session, as the buyers  strongly withhold the price above this level in their attempt to retrace the metal once again to the upside.

In the scenario where the price appreciates, the buyers could lead the price as high as 1186.37, the first target, and 1196.81, the second target, respectively.
Alternatively, in the event that the price resumes declining further, the metal could break below 1165.82 and decelerate as low as 1151.03.



Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
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26 / 06 / 2015 | Analisi tecnica

Gold – Major Support Level Noticed at 1171.48

European Session
The buyers of the precious metal have somehow managed to stabilize the price slighty upper than 1171.48, a level that is perceived to be a major support zone for today’s European trading session.
Today, the bullish pressures seem to be far more promising than the bearish ones, and in the scenario where the price escalates, the metal could appreciate as high as 1185.64 and 1194.71 respectively.
In contrast, an aggressive break below the 1171.48 level could force the metal once again to the downside as low as 1162.11.



Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
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25 / 06 / 2015 | Analisi tecnica

Gold – Strong Support Noticed at 1165.78 and 1174.09

North American Session
The precious metal has been under strong downside pressures since the 19th of June, 2015 and lately since the 23rd of June, 2015, having declined from as high as 1204.00, to as low as 1165.75 the latest major support level prior to the North American session.
A bullish formation has now greater chances to prevail, and in the scenario where the price appreciates, buyers could lock their take profit targets at 1188.15 and 1202.06 respectively.
Alternatively, a downside break at 1165.78 could be an indication that the bearish trend will resume, and the most probable target ranging close to 1143.98.



Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
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