EUR/USD Daily Video, November 07, 2011

Sive Morten

Special Consultant to the FPA
Messages
13,131
Good morning,
although market is forming classical continuation pattern on daily frame - it's not all so simple with it:



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.
 
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onenikos

Corporal
Messages
85
Dear Sive and All, as i have commented on your weekly report on Greece there is already an official announcement that the two major parties have agreed on the forming of a new government with a commonly accepted PM with a mandate to resolve and finalize the EU package, complete the negotiations for the new installment and bring the country to elections on completions. Names will be announced tomorrow. Watch out the reaction on Monday morning. (at 22:20 local time Sunday). May you have a pip full day.
 

toughcookie

Recruit
Messages
4
Dear Sive and All, as i have commented on your weekly report on Greece there is already an official announcement that the two major parties have agreed on the forming of a new government with a commonly accepted PM with a mandate to resolve and finalize the EU package, complete the negotiations for the new installment and bring the country to elections on completions. Names will be announced tomorrow. Watch out the reaction on Monday morning. (at 22:20 local time Sunday). May you have a pip full day.
Onenikos, what's the mood in Greece following this decision? I would guess that it could be moderately positive for the euro, given that it postpones the crisis of elections (for a little while at least). But in the longer term uncertainty still remains, so we may not see any major moves up or down just yet.
 

onenikos

Corporal
Messages
85
Just one more line on the above. There is a good chance that the new PM would be Papademos ex governor of the Bank of Greece and VP for years in the ECB widely known and accepted by EU. In such a case positive reaction would be increased.
 

onenikos

Corporal
Messages
85
Dear toughcookie, the mood in Greece is very positive as this is the first time in recent political history that the two major parties get together and agree on a common goal which is the finalization of the EU package that includes the 6th bailout installment and negotiate the 7th and finalize, before elections are proclaimed. This will be received with great relief by the EU community and markets. As such should have short term positive effect on Euro, which can only be moderated by the recent situation in Italy which makes the markets uneasy to say the least.
 
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