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EUR/USD Daily Video, June 24, 2011

Discussion in 'Sive Morten- Currencies, Gold, Bitcoin Daily Video' started by Sive Morten, Jun 24, 2011.

  1. Sive Morten

    Sive Morten Special Consultant to the FPA

    Aug 28, 2009
    Likes Received:
    Good morning,
    One of the acceptable decisions today is to do nothing due to some reasons.
    Still, if you want to trade - try to be extra-careful and take additional safety before enter:

    The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.
    #1 Sive Morten, Jun 24, 2011
    Lasted edited by : Aug 15, 2015
  2. tun13

    tun13 Corporal

    Aug 26, 2008
    Likes Received:
    Thank you Sive for the caution.
  3. onenikos

    onenikos Corporal

    Apr 30, 2010
    Likes Received:
    EUR fundamentals

    Dear Sive and All,
    As I mentioned last week, there was no possibility of the Greek Gov not getting the no confidence vote. In the same manner I pointed out that there is no possibility of not getting the Jyly installment. The idea is to push everything to September for the decision of the new enormous loan package. Thus the possibilities are for the austerity measures low to pass with thin majority. Nevertheless already general strikes and a permanent crowd of thousands in front of the parliament square every day show that the opposition from already hard hit middle and worker class will escalate to the point that elections might be forced in September. The markets are actually afraid (or wishing depending on the side you are in) a cause for "credit event" that is why statements and actions are so powerful this period. Obviously the effects of such an event will create chaos, as banks that hold Greek paper will suffer but at the same time demands for the insurance payment will create unmeasurable effects.
    It is a period of extreme caution for the individual trader, as fundamental signs can and will be used for extreme profits through overplaying the slightest statement or event. If you ask me I am with the bears, but having said that through my years in trading I have learned one thing for sure: I really do not know what the market will do next! (for how one profits through this statement, I am sure that Sive will cover it in his cource. Have a nice weekend and profit from life as much as from FX.

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