World stocks rise on hopes for Greek debt deal

Looks like history is repeating itself....fake rally buying on HOPE and soon it will be sell the truth!

I agree....the hangover will be over early next week, then Euro will crash back to below 1.30

so the actual haircut will be priced in

If Europe thinks that having a strong euro will come out of the crisis, with this speculation makes up the garbage picked up. We'll have to look for Pinocchio

agreed.

I actually slightly miscalculated where I thought price would provide a pullback. I estimated 3190-3210. I entered my short at 3215. Seems price just got hung up at 3225, and quite frankly I'll be astonished if price barrels through 3240 without a major pullback, since my technical system fails on average only about 5% of the time (usually due to unexpected news events).

Hope rallies can be quite substantial, but unlike real news-driven price fluctuations, they usually respect technicals because they are fueled by hot air.

Pretty amusing to see how much dumb money is trying to gain a late entry into this wave of buying atm. They aren't even waiting for a substantial pullback.

EUR/USD
"As the [participation] number rises, the odds of something terrible happening diminishes. That will naturally be euro positive"
- Faros Trading (based on WSJ)
The currency pair has bounced off a support at 1.3096 and is currently climbing higher. Nonetheless, this rally is likely to be short-lived, since most of the daily indicators are pointing to the downside - 1.2974/54 first, then 1.2624.


EUR/JPY
"Any suggestion the deadline [of Greek deal] might be extended would probably send shivers down the spine of any 'risk-on' traders and EUR would like suffer badly"
- BNP Paribas (based on CNBC)
Support at 105.85 has repelled off EUR/JPY, which is now advancing toward 108.00. In case the latter level is penetrated, the pair may reach 108.75 (55 week ma) next. Subsequent resistances are located at 109.38/58 and 110.26.


GBP/USD
"Positive data surprises from the UK have provided some support of late but we think the domestic picture will start to run out of steam and sterling will be back under pressure"
- Morgan Stanley (Reuters)
Being that the Cable has breached an uptrend support, the dip is expected to extend down to 1.5650/43. Resistances are situated at 1.5886 (200 day ma) and 1.6000, they should contain intraday rallies.


USD/JPY
"Quote"Investors are feeling less pessimistic about the global economy. Now that the yen is starting to ease, manufacturers who had really been hurt are coming back"
- Mizuho Asset Management (based on Bloomberg)
A formidable level at 80.54 is unlikely to give away in the nearest future, as it is supported by 80.42, 80.00 and 79.55. Consequently, the outlook is from neutral to positive, allowing for the pair to attain 81.49 within the day.

Anything will be the Greek final result, it will be bad for the euro. The question only it, that wrong, you are badder?

Excellent Greek bond swap chart by
http://twitpic.com/8ti4wi

Eurozone crisis: live blog
http://blogs.ft.com/the-world/2012/03/eurozone-crisis-live-blog-29/#axzz1oWNv8CHg

fuck Berny Q3, is from this moment.

Hold buy position.

buy buy buy... then greece will say goodbye to u... hahahaa