TMV Swing Trade report – Long September Eurocurrency from 1.4175 – current price @ 1.4298

The euro currency is trading higher after the two biggest economy in eurozone, Germany and France reached a common position on how to handle the second Greek bailout plan during a 7-hour talk between French President Nicolas Sarkozy and German Chancellor Merkel in Berlin yesterday (ECB’s Trichet and EU President Herman van Rompuy also joined the talk by telephone).

The leaders appear to be in agreement about  71 billon euro in new aid and 50 billion euro of a bank levy, according to a source from news agency, after today’s summit meeting.

September Eurocurrency - click to enlarge chart

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