Greece bond restructuring set for Friday

The eur/usd will not sell off and will not go below 1.3000 again. Why??? Just go back through and read all these news threads and look at how many times people say "short euro." If all the retail traders are thinking short(and are short)...then the big players are going to keep pushing it up to take your money.

If you want more proof, think about this: Euro stocks up or down...eur/usd goes up, US stocks up or down...eur/usd goes up, Euro news good or bad...eur/usd goes up, US news good or bad...eur/usd goes up, Euro bond auctions good or bad...eur/usd goes up, US bond auctions good or bad...eur/usd goes up

And if you still want more proof, look here: http://fxtrade.oanda.com/analysis/open-position-ratios and http://fxtrade.oanda.com/analysis/forex-order-book

And for even more proof: Just look at what different countries around the world are doing/saying. Europe says it's supporting Greece(and Europe), China and Japan want to invest/help Europe, AND the USA has a swap line open with Europe just giving them free money which then EU uses to fund it's LTRO's!!!! EVERYONE IS PROPPING UP THE EURO!

Not sure about 1.3200, possible but not likely imho...I thought at some point this week EU would have filled it's weekend gap and went back down around 1.3150...but the closest it came was 1.3180ish. For the last three days it couldn't get below 1.3210ish. The lows just keep moving higher every day/week. But what do I know? If I knew what I was talking about, I'd be one of those "big traders" and not a retail one! haha

As I was typing that reply, I see eur/usd shot up another 40pips(1.3330 to 1.3370). I see eu hitting 1.3450 before 1.3200

Food for thought: EJ up 85pips today, GU up 90pips today, AU up 120 pips today and EU is the big winner up 140pips today. What does that tell you?

short and short but the chart is up

This is not an agreement yet with the creditors. This is only a Greek idea.

Private Bondholders will not agree for the haircut...I wouldn't either since this will trigger the default and Bondholders will get 100% through the CDS...makes sense right?

hey 211,we think now about 1,32 any idea? who is even think about 131...

good time to short eur

very good time :-) just now

Austerity will not be implemented . All these leaders ( Sarkozy, Multiple Greek Members) cramming changes through the system will not be in power to implement . Sarkozy needs a four leaf clover and the winning megamillion ticket to win.

Word

Fitch and S&P already anticipate a Greek default. The default will trigger further downgrade of France . France is one the biggest bondholders of Greece.