Despite being July 4 will be closed U.S. markets

Despite being July 4 will be closed U.S. markets, in Europe the spirits are disturbed by a recent innovation: the ratings agency S & P said that could be put back in grade default to Greece.

This occurs within hours after the Greek government, through a very tough vote, successful adoption of the plan of adjustment imposed by the EU to extend its credit line, essential if the country does not enter into default in the next two weeks.

S & P said that could be allocated to debt issued by the Greek government a "D", which is unusual at this firm, and that classification could be temporary.

In any case, the path to the default output of Greece regains pitfalls that once again Germany and France, with different styles, will go to save.

The situation appears certain comic trimmings. Greece has made joining the European Union in a vicious circle, which if not "save" every risk of the economy helena, the problem will turn against him. Explicitly have already explained in this way certain officials of the Greek government, which led to a logical reaction of his colleagues elsewhere in Europe.

But it's so true that Europe should put the money necessary to ensure that Greece does not fall into default, and that in this situation, and knowing that this should happen fatally, Greece did not comply in any way with the required adjustment plans.

So Europe to avoid a similar situation in the future, should make clear that a member country of the Union committing the blunders that have made Greece such as GDP data falsification or pay the consequences of fiscal deficits in some way . Otherwise, other countries with similar problems will soon take a similar attitude.

What is also clear is that the Euro, so battered in the words, but firm and strong in quotes, is a political project of the European Union, and both Germany and France will not let them fall just because one of its partners has gotten off track.

Under these circumstances, should always analyze what happened to the Euro since its entry into force in January 2002. Probably, after starting this month fell to 0.90 and 0.8570, many have opted to rapid failure. But never underestimate the Germans. Its current share price, above 1.45, shows that the old Europe is more than firm in their convictions.

Sure, on the other side of the Atlantic help make this happen, and the Euro seem more than it is. The soft policy that still maintains the Federal Reserve has led the dollar to record lows, or almost historical in some cases, before the Yen, Swiss Franc, Canadian Dollar and Australian Dollar, to gold, oil, and to virtually all raw materials.

Probably, when the Fed of a twist to interest rates, to which will require that the circuit of industrial production and services are set to tone, increase employment, consumption and thus inflation, see a more even balance between the Euro so strong and so weak Dollar. For now, the single currency is gaining ground, despite the European problems.

Turning to the more strict now, if you see the prices of its platform move in slowly, or not move, do not worry. Your internet connection works fine, but the holiday in the United States always has this effect. The market activity is very low on Monday, and the movements for the next hours will be scarce.

Technically, the Euro continues to maintain a strong uptrend on the daily chart, trading at 1.4514 when, after breaking a trendline (Friday), and performing a pullback against it.

The 4 hour chart shows an upward trend also dominant, although it appears a trend line support point which is located near the current price. The breakdown of the information could change the direction of crossing to the onset of the Asian session Tuesday, with supports at 1.4475 and 1.4440. The resistors are located at 1.4550 and 1.4580.

Folks, this is it for this short day of work. All have an excellent trading day, see you Tuesday.