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Elliott Wave Financial Price Forecasting

Euro Stoxx 50 – EuroGroup Leaders Agree Greek Deal

by WaveTrack International| July 13, 2015 | No Comments

EuroGroup Leaders Agree Greek Deal

EuroGroup Leaders Agree Greek Deal

In lengthy emergency discussions that lasted all night, the EuroGroup leaders have finally reached a deal with Greece that ensures a third bail-out will go ahead. European Council president Donald Tusk said ‘Euro summit has unanimously reached agreement. All ready to go for ESM programme for Greece with serious reforms and financial support’. German Chancellor Angel Merkel has just finished a press statement a few minutes ago to confirm the EuroGroup membership is unanimously behind supporting Greek reforms and restructuring.

Stock indices are higher on the open, adding on to last week’s gains.

Last week’s forecasts of the Euro Stoxx 50, Xetra Dax, Greece’s ATG index and Greek 10yr bond yields provided EARLY CLUES that a positive outcome would prevail surrounding the Greek Debt negotiations – especially since the Euro Stoxx 50’s counter-trend pattern that have been in force since mid-April was already completing last Wednesday and signalling a reversal upswing was about to resume the larger, prevailing uptrend. Today’s announcement is therefore no surprise given key indices have already traded higher by more than +7.5% into last Friday’s close – adding this morning’s advances, this figure is now +9% per cent!

Euro Stoxx 50 - 120 mins.

Euro Stoxx 50 – 120 mins. by WaveTrack International

What we’ve just experienced is actually quite amazing! – the natural development of price-data results in building a typical Elliott Wave pattern to a conclusion before any news-related effect occurs. This is powerful stuff, but the real work is in our ‘self-belief’, comprehending that such ‘causal’ energies trigger rippled ‘effects’ through the time and price line of growth and decay! But at the very least, it confirms that the news-flow is not the ‘causal’ origin of price-determination and development – something else is secretly at work!

See WaveTrack’s post 4th July 2015 before the referendum! Greece Special!

See our post 10th July 2015 – Euro Stoxx 50 Jump annuls Grexit concerns!

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Category: economy, Elliott Wave, Elliott Wave Charts, Elliott Wave Patterns, Elliott Wave Principle, Eurostoxx 50, Financial Forecasting, Greek debt crisis, WaveTrack International
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WaveTrack International is a financial price forecasting company dedicated to the Elliott Wave principle and work of the R.N. Elliott. Clients include Investment Banks, Pension Funds, Total/Absolute-Return/Hedge Funds, Sovereign Wealth Funds, Corporate and Market-Making/Trading institutions and informed individuals -- & just about anyone who is affected by directional price change.

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