EUR/USD Daily Video, October 17, 2012

[Sive Morten]

Good morning,
On first glance situation is bullish and as clear as never, but is it really so?






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.

 

[onenikos]

The bearish case has possibilities. Yesterday the market reacted to the Troika's departure from the negotiations with the Greek Labor minister. Following that they are leaving to return Monday, while the 2 of the 3 party Greek government is at the brink of breaking down, as the measures proposed are both contradicting with previous ones proposed and will cause tremendous social unrest. Starting on this there is a general strike announced for tomorrow by all the nations unions and there are talks of extending this to sustained general strike if the measures are agreed! With Spain and Portugal already exhibiting activism I would keep a sharp eye on reversals.