Eyeing today's euro finance ministers meeting with optimism, risky assets maintained the rebound we have seen by the end of the past week. Markets were backed by an implicit agreement among traders that the bailout could pass today. While comments from the German finance minister spokeswoman also favored the bullish outlook;as she expressed her optimism regarding a final agreement mentioning that the euro-area officials made progress in negotiations and the ministry is optimistic that they will reach a deal today. Meanwhile, the Bundesbank mentioned in its regular monthly report that the german and global growth outlook has brightened noticeably.

China's central bank cut its reserve requirements ratio last night, trying to boost the lending capacity by an estimated 350-400 billion Yuan , the ongoing easing by the central bank of china also gave markets a nudge higher.

With the lack of economic data today,where U.S. is celebrating the presidents day, Greece shall remain the main driver of markets sentiment today. The EUR/USD pair scored some meaty gains against the greenback, after opening the day with a 30-pip bullish gap; the pair maintained the rally currently testing areas around 1.3270, in its way to the latest swing high at 1.3320. In general, the short term bullish outlook for the par remains likely, where if 1.3320 was taken we could reach 1.3500-1.3550 in the near term. Main support levels start at 1.3235 and 1.3180. Only a breach below this swing low at 1.3180 could threaten the current short term rally, towards 1.3110 while below 1.3110 downside reversal could evolve.

USD/JPY has reached the post-intervention high around 79.50, where it's currently hovering around the level, momentum indicators are providing an extensive overbought signals. Meanwhile, another important high resides at 80.20 level , thus there is a probability for a downside correctional move from these areas, where we might see a retest of some important resistance level that was breached lately , around 78.50-78.25. The pair is slightly down from opening price trading at 79.47 after starting the day at 79.59.

GBP/USD also gained today, after opening at 1.5846 the pair inclined printing a high at 1.5880 resistance level , current pushing to it attempting to continue the rally towards the highs at 1.5928. First support at 1.5840 followed by 1.5790. While above 1.5930; 1.6000 is the main target.

Oil jumped above 103.50 mark today, after Iran halted exports to Britain and France. Iran's oil ministry said Sunday, it halted crude shipments to British and French companies in an apparent pre-emptive move against the European Union after the imposed sanctions on Iran's oil exports. Crude opened the day with a major bullish gap above the key resistance at 104.50, if price manages to settle above this critical juncture among 103.50-104.50 , further gains for oil will be anticipated over the short term towards 115.00 mark. By breaching the aforementioned resistance, price has successfully completed a bullish ascending triangle formation.