On Thursday the private holders of Greek bonds (under the auspices of the IIF) continued the debt writedown talks with Athens. The thing is that the economic situation in Greece keeps deteriorating, which suggests writing down more of its debt, otherwise all the previous steps will make no sense.
The IIF made a statement, saying that there is some progress in the talks.
In the meantime, EURUSD keeps forming the upswing – wave C H1. If there are no signs indicating its completion, the next closest target is 1.3290.
At this point, there is a retracement being formed in the mentioned wave C. According to the SRP Department of , it is necessary to monitor the structure of the retracement pattern in order to anticipate the future succession of events.
