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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:

EUR

Discuss EUR in this thread
 
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jacek
Melbourne, Australia
Posts: 2579
13 years ago
May 8, 2011 22:36
gap up in euro in early asia.. looking to close the gap.. S 1.4380 T 1.4310 SL 1.44
Chartvuze
salisbury, UK
Posts: 18
13 years ago
May 8, 2011 21:26

Beware Greeks Bearing Gifts

1.32 Q4


Good Luck Out There
Qingyu
manchester, UK
Posts: 1763
13 years ago
May 7, 2011 12:27
cat, now i believe your parity outlook.
cat0nip
Frankfurt, Germany
Posts: 1632
13 years ago
May 7, 2011 10:25
Juncker has already debunked .... he confirmed a meeting but stressed it wasn't about Greece
and Greece leaving Ezone is as well out of question as restructuring.
Of course Greece is as bankrupt as Ireland and Portugal... if they would follow given Greece exits a bank crash is inevitable. Thus the Greeks play just hardball with Merkel. That's all.
They want indefinite extensions and easening rates. And they will get it. Next Ireland will get it and Portugal will get then Spain and Italy will declare bankrupt and...
Merkel lost big. THIS is what could further weaken Euro. The biggest suporter a lame duck. But I think monday will bring a short lived relief rally. To about 1.45. Good for short.

digi
toro, Canada
Posts: 1040
13 years ago
May 7, 2011 6:08
Sources told SPIEGEL ONLINE that Schuble intends to seek to prevent Greece from leaving the euro zone if at all possible. He will take with him to the meeting in Luxembourg an internal paper prepared by the experts at his ministry warning of the possible dire consequences if Athens were to drop the euro.

"It would lead to a considerable devaluation of the new (Greek) domestic currency against the euro," the paper states. According to German Finance Ministry estimates, the currency could lose as much as 50 percent of its value, leading to a drastic increase in Greek national debt. Schuble's staff have calculated that Greece's national deficit would rise to 200 percent of gross domestic product after such a devaluation. "A debt restructuring would be inevitable," his experts warn in the paper. In other words: Greece would go bankrupt.

digi
toro, Canada
Posts: 1040
13 years ago
May 7, 2011 6:00
The debt crisis in Greece has taken on a dramatic new twist. Sources with information about the government's actions have informed SPIEGEL ONLINE that Athens is considering withdrawing from the euro zone. The common currency area's finance ministers and representatives of the European Commission are holding a secret crisis meeting in Luxembourg on Friday night

Greece's economic problems are massive, with protests against the government being held almost daily. Now Prime Minister George Papandreou apparently feels he has no other option: SPIEGEL ONLINE has obtained information from German government sources knowledgeable of the situation in Athens indicating that Papandreou's government is considering abandoning the euro and reintroducing its own currency
subway90
Posts: 1078
13 years ago
May 7, 2011 2:08
i thought 4220 would be saved for end of next week but i guess we'll see it sooner.... :)

lesson to be learned.... and i repeat again... never assume things...

mach... i hope you gained some wisdom thru this as i have the last 2 weeks when i was down 1700+ pips at one point... don't assume and respect the chart as is...

expecting extension lower to 4230/40 monday b4 we see some bounce.... 4420/30 level will act as first main resistance now... only clear close above 4430 would see move higher to 4630/50...

looking at the weekly chart... bulls will be on the defensive... could see a much stronger pullback than many anticipates....

good luck and have a good weekend!
jacek
Melbourne, Australia
Posts: 2579
13 years ago
May 7, 2011 1:30
Hey Mach and Dave good to see intelligent exchange of views here, even if opposed.. what stress?.. sitting in swissie and yen shorts and just watching them ticking in right direction.. and doing some scalping in volatile silver and aussie for some fun.. as for euro I am leaving it to you two to fight it out:- perhaps see you early next week in Asia for some wholesale FX action.. have good weekend..
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
May 6, 2011 21:39
Ok, I'm finished. have a good weekend catnip.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
May 6, 2011 21:38
Be interesting to see if DX can break that trend line resistance from Feb high. Its right on it now.
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