FOREX PRO Weekly March 18-22, 2013

[jianean]

Hi yaakruay [and Freddy],
Ah. The penny has dropped [well don't tell too many others but I am a bit stupid at times]. Because the single line from Freddy was 4 minutes after the one about my earlier post, I had simply thought it was an afterthought for it. But now you have pointed out the possibility that it was the Cyprus proposal, I think you are probably correct.
If so, then I am in agreement with Freddy

 

[Zaleske]

Price is steadily going north and has returned in the 4H channel. For today, i think i can see it creep towards higher border, which coincides more or less with daily pivot, and close the gap.

 

[Pedro319]

I would look for further advance above 1.2980 last intraday support that might become resistance. Cheers

 

[BeeKay8]

Looks like currently we have AB-CD in progress on hourly chart...

 

[Sive Morten]

Looks like currently we have AB-CD in progress on hourly chart...

Hm, may be...
still I've expressed my opinion in today's update. Even gold looks more interesting now.
Actually guys, take a look at daily S&P - we have nice bullish stop grabber. As technically as fundametally (at least if Cyprus will say "yes" to robbing) - that is in favor of US and dollar itself. Anyway this will be more safe than dealing with EUR before voting...

 

[Zaleske]

Did you guys see the broadening wedge on daily?

 

[BeeKay8]

Hey Sive,

IF the vote passes and the Cypriot government does indeed decide to seize 10% of citizens' bank deposits, that would be bearish for EUR/USD, right? Like you said yesterday, it would "challenge EUR trusting".

However, IF the vote does not pass, then that means there will be no bailout package from the EU. If there is no bailout package, then most likely this means Cyprus will be out of the EU.

Does this mean whatever happens, EUR/USD will have a bearish reaction to it? Unless some sort of outside help for Cyprus happens - like Bill Gates donating 8 billion dollars to Cyprus?

 

[Synchronicity]

Hey Sive,

IF the vote passes and the Cypriot government does indeed decide to seize 10% of citizens' bank deposits, that would be bearish for EUR/USD, right? Like you said yesterday, it would "challenge EUR trusting".

However, IF the vote does not pass, then that means there will be no bailout package from the EU. If there is no bailout package, then most likely this means Cyprus will be out of the EU.

Does this mean whatever happens, EUR/USD will have a bearish reaction to it? Unless some sort of outside help for Cyprus happens - like Bill Gates donating 8 billion dollars to Cyprus?

You left out option 3 - Fudge. They all devise some sort of compromise where Cyprus gets the bailout and the Euro limps on...

Or am I being cynical?

All the best

Michael

 

[Sive Morten]

Hey Sive,

IF the vote passes and the Cypriot government does indeed decide to seize 10% of citizens' bank deposits, that would be bearish for EUR/USD, right? Like you said yesterday, it would "challenge EUR trusting".

However, IF the vote does not pass, then that means there will be no bailout package from the EU. If there is no bailout package, then most likely this means Cyprus will be out of the EU.

Does this mean whatever happens, EUR/USD will have a bearish reaction to it? Unless some sort of outside help for Cyprus happens - like Bill Gates donating 8 billion dollars to Cyprus?

Hi Brandon,
in fact, as I understand this situation, now investors do not care whether Cyrpus will get an aid or not. The major question is - how it will impact overall EU economy, particularly banking sector and how mass assets outflow will be. And this outflow definitely will take place. It's not about will EUR decrease or not, it's about how strong it will decrease...
As I've mentioned in update - recall Shell Company, guys
BTW, somehow with all these staff we forget about Fed minutes.

 

[Joh]

Hi Sive, if this Cyprus situation continues you can see the EU go to 116, you mentioned the EY do you have a picture where that could go to in this case? Thank you in ad vance for your reply