Euro Short-Term
Greece today has come out and informed its creditors that it will run out of
money on April 9th. This is an appeal for more loans before any reforms are completed upon which new disbursements hinge. Brussels has rejected this request. Meanwhile,
Greece has officially denied that it would miss the IMF repayment deadline. Nonetheless, Athens will have to face this blunt crazy fact for it needs €7.2 billion euros of new loans from the Euroland and the IMF if it implements reforms that the previous government agreed would be the condition for disbursement.
money on April 9th. This is an appeal for more loans before any reforms are completed upon which new disbursements hinge. Brussels has rejected this request. Meanwhile,
Greece has officially denied that it would miss the IMF repayment deadline. Nonetheless, Athens will have to face this blunt crazy fact for it needs €7.2 billion euros of new loans from the Euroland and the IMF if it implements reforms that the previous government agreed would be the condition for disbursement.
Timing wise, the week of 04/06 has been a target for some time now.
Euro & Par
Many people have asked is the max par for this year on the Euro? Yes. We have technical support at 9706 level for 2015. We have Yearly Bearish Reversals are 11645 and 10365. So the 116 level will remain as reactionary resistance this year and the 10365 level is key support just below the current low of 10460.
So correct. We have stated previously that PAR is the best we should see short-term. Breaking to 80 level is long-term. The trading range near-term is Par to probably 116-117. The 140 level is the extreme max that says this is what must be exceeded to turn bullish.