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Coleman: EURUSD falls on collapse of Greek debt talks

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Negotiations between Greece and the Eurozone deteriorated after Greek Finance Minister Yanis Varoufakis rejected a six-month bailout extension proposal. With time running out before Greece officially runs out of funds on February 28th, Ian Coleman from First 4 Trading believes says EURUSD could fall to USD 1.1106. The euro fell in early morning trading as uncertainty about a deal increased. Investor focus now is on Wednesday’s European Central Bank meeting where a decision whether or not to maintain the EU’s current emergency lending programme will be decided.  

Ian is looking to sell into gains at the current market price and again at USD 1.1318. He is targeting a move toward USD 1.1276 and USD 1.1106. A stop can be placed at USD 1.1397.

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