EURO/USD: EURO keeps on descending movement

The pair EUR/USD is traded downward at the Forex currency market on Monday morning, keeping on moving in the downward channel.

By 9.15 Moscow time the Euro is at 1.4124 against closing level of Friday at 1.4188.The major pair is under severe pressure due to the fact that IMF and EU has not yet made a decision on a new package of financial aid for Greece. Today, Greece will start a debate on the measures outlined and recommended by the European politicians.

Considering the mood of opposition and population of the country, discussion is going to be difficult.Voting in the Parliament according to different sources will be held on Tuesday or Wednesday.At the beginning of the week, the U.S. President, Obama, will meet leaders of the Senate to discuss the issue of increasing a maximum permissible level of the government debt –the decision shall be taken before 2 August.Therefore, the day is going to be eventful.Most likely the pair EUR/USD will not go beyond the range of 1,4070-1.4290 at the trading session on Monday.