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FXWES
Jun 29 2015 at 08:10
675 posts
EUR recorded a decrease against USD on Friday. The session started at a price of 1.1203 around noon and the pair reached the highest level for the day at 1.1219. After lunch direction went down at the end of the day the euro finished at a rate of 1.1169. In case that the downward trend of the last few days continues, the pair will move to the first support at 1.0815.

bewayopa
Jun 29 2015 at 14:25
372 posts
Last week was marked by a sense of expectation in relation to the Greek issue which resulted in a marked volatility,
as investors react to possible statements, news and rumors.

Inari (Inari)
Jun 29 2015 at 14:55
42 posts
Interesting moves on EUR/USD today - trying to filling the overnight gap but it reeks of some central bank intervention - we already heard about the SNB move but it appears that something else may be afoot...

The reasons are clear - what we are witnessing is the start of the unraveling of the Euro - yes Greece is a small player but the inability of the larger members to save face is worrying...

The biggest worry is the precedent of a referendum - where the people will decide - irrespective of the result if the concept of an anti-austerity referendum expands to other member states then the foundations will rattle further...

There has been a clear move by Euro to destabilise the Greek government in advance of Sunday's pole - but this may just play into the hands of the 'No' vote.

The facts are very simple Greece cannot afford to pay the interest on its loans just now - the austerity measures being called for will cripple the Greek economy further - so the only logical result is a default and the wiping out of debt arising from loans that should never have been offered in the first place.

It shows the complete futility of trying to create an economic union without a political union - which will never happen...

As we all know as traders the first cut is the cheapest so the IMF and the other creditors should cut there loses now...
Yes Greece has been an epitome of tax avoidance but its not those people who suffer now - its the ordinary Greek in the street - and poverty is becoming a real issue...

A few of the forecasts pointed towards the Euro moving towards parity with the USD this year - that now seems to be an excellent long term investment to capture 1,000 plus pips.

In addition to Greece;s pending defaults there is the impact of Eurozone QE and the US/EURO future interest rate fundamentals to consider...

So I guess I am quick a Euro bear just now :)



Sean




tchutchuco
Jun 29 2015 at 16:37
28 posts
Gap filled and passed as well some analists they were betting that was not going to happen.

victoriajensen
Jun 29 2015 at 17:47
1117 posts
EUR/USD opened with a large gap but managed to recover it and continued climbing even after it recovered the gap towards the resistance at 1.1250, which coincides with the MA(89) on the four-hour filter chart. Should it break above that level it will probably reach 1.1300.

JacoAF (JacoAF)
Jun 29 2015 at 18:37
130 posts
I'm really puzzled by the move in the EUR/USD today... I can understand the market trying to close the gap, but the whole day the pair has been climbing slowly. I'm no expert, but I kind of agree with Inari, it smells of the ECB silently intervening all day long in anticipation of the market reaction to Greece's default on it's IMF payment tomorrow...

Maybe you guys and gals have some better insight than me to what's going on...

Keep it simple, be disciplined, get rich slowly and above all protect your equity!
Abdul2012
Jun 29 2015 at 18:49
413 posts
Great rally today for the EUR/USD, 300 pip not bad at all. Let us see tomorrow if the pair going to continue climbing to the next resistance level at 1.1350.

sherifFares
Jun 29 2015 at 19:55
454 posts
What a huge Gap today, the Market is not stable due to Greece crisis.

Spackelspade (Spackelspade)
Jun 29 2015 at 19:56
53 posts
Sothing is wrong it looks like it dosent mether wath grees do

csc2009
Jun 29 2015 at 21:54
834 posts
The euro bounced back like crazy. Rumor says there are might be a deal on the table for Greece, but haven't we heard that before? according to Dijsselbloem, the door is still open for Greece to come back to negotiating, so let's see.

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