There were almost no concerns over the liquidity of the eurozone banking system left after the ECB allowed long-term lending for European banks. However, some ECB representatives assume that this is not enough to secure the banks against turbulent markets and debt problems in the area.
The banks borrowed 3-year loans at favorable interest rates to the amount of 498B euro in December 2011. So far, this has been a positive driver for numerous markets, and the Euro currency exchange rate in particular.
In the meantime, according to the DFWA Department of , EURUSD has finished an upswing - wave 1. The price is currently retracing against it. It will be possible to go bullish after the retracement is over. The retracement may well last for the entire European session.
