EUR/USD - Page 289
yep, not feeling right anymore to keep shorting..
I have a SHORT opened from 1.2892. Going to let it run till I goto bed it's getting tougher to keep staying short on these bounces. I think I'm going to give forex or atleast the EURUSD a break for a while here. I don't want to go long here either..
I flip sided the idea few times. Exit or no exit.
English is my third language. he he to explain that now would be a long story.
First. The whole Idea is based on USE, they want more participants not less..
AND if they let Greece go, Spain or Portugal will follow. Till now, it a Borg Unity,
Assimilate new members/slaves.
"Really? I thought an exit would make the Euro a lot stronger."
Yes, it would but for how long. Greece is not the problem, the whole system is it.
We have Romania in the EU. Romania. Or Candidates from a long civil war land.
And if the Greek decide tomorrow to exit the € it would take a year or years to do that.
You cant switch the currency in 3 Months. In that time so much can happen.
So i think, IF Greece really announce the Exit, it would be only a short term thing.
Like some good Pink Stocks News,
Have no clue where it will go, but nice to look at it.
And without new horrible news it should go up from here.
Bad its Friday. Monday would be better for a interesting week at this moment..
Edited by Z-OldEurope - 5/17/12 at 8:04pm
Euro stays near 2-yr low, focus shifts to Spain
The euro wobbled near a two-year low against the dollar on Tuesday as concerns about the cost of shoring up Spain's banking system pushed up its debt yields, offsetting a slight easing in worries about Greece.
The 10-year Spanish bond yield rose to around 6.5 percent, driving the risk premium on its government debt over German Bunds to a euro-era high of 515 basis points, raising fears the euro zone's fourth biggest economy may fall victim to the debt crisis.
"Although pessimism over Greece is somewhat receding, worries about Spain are growing, with markets watching whether the Spanish bond yield will hit the seven percent mark," said Masafumi Yamamoto, chief FX strategist at Barclays in Tokyo.
A 10-year yield of 7 percent in a eurozone country is seen as critical as the three countries that requested bailouts all did so soon after their bond yield rose above that level .
The euro stood at $1.2535, near last week's two-year low of $1.2495, having failed to clear resistance at previous support around $1.2625 for three days in a row.
The euro gave up most of the gains made on Monday after Greek polls showed more support for pro-bailout parties ahead of the country's election on June 17. That eased fears Greece may walk out of the euro zone, potentially unleashing a chain reaction in other indebted countries.
The currency is supported for now by bids just below $1.25, though there are more stop-loss offers near $1.2450, traders said.
Against the yen, the common currency fetched 99.64 yen , near a four-month low of 99.37 yen hit last week.
cant continue.. needs a breather and will recover 03 cents. JMO or can lose another 02 but its anyone's guess..
Its more the mmers forcing QE by the US.. thats just what i think.
Debt will be defended at all costs.. and i mean ALL costs lol.. until parity if ever applicable (not gonna happen this year)
Target of 1.25 was reached, will it break below the SNB 1.20 parity i doubt it highly.