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  • Former Greek PM: risk of Greece leaving Euro is real

    From talking-forex.com

    Former Greek PM Papademos says risk of Greece leaving leaving Euro is real and Euro membership depends on implementation of bailout programme

everyone is talking about the same thing.. lets wait for new elections and then we'll see
They should have kicked the Greeks out of the EU before the damage became too big.
  •  Guest
  • | IP XX.XXX.22.144
this little push down in the euro provides perfect opportunity to go long - eur membership depends on implementation of bailout programme means when they do implement it euro is going back to 1.30's
  •  Guest
  • | IP XXX.XXX.159.54
They will not leave . We have seen this before . buy on the dip . Dollar cost average euro, equities, and bonds. Germany and China will never allow it
  •  Guest
  • | IP XX.XXX.113.138
WTF
X: greek is leaving
Y: greek is not leaving
X: Yeah greek is not leaving
Y: ooh greek is about to leave
F*** Yaa all
Tell us something we don't know. And since when did the former Greek PM become a stutter??
Bankers are pushing euro down. I have a feeling there won't be a Grexit
and the news is?... so we really needed Papaface to tell us something the world was already aware of.
No gre exit for sure. If gre exit then euro up and usa down so ?
When E/U was above 1.3000, buy the dips worked great. When it broke below...Selling the Rallies has worked great!!!

Quoting Guest
this little push down in the euro provides perfect opportunity to go long - eur membership depends on implementation of bailout programme means when they do implement it euro is going back to 1.30's
am short euro and Aussie first targets reached up 120 pips on each so far
  •  Guest
  • | IP XXX.XX.255.246
Personally, I don't think that Greece will leave the EU zone. To much risk for the rest of Europe and the US. If the Greeks don't come to the party with a plan, one will be put forward to them. As rumour has it there is one already. As I said "rumour". Let the dust settle a bit and there'll be lots of long positions again. Soon soon we'll find out. Promise

ALL TIME BULL
it's hammertime. Long Euro!
All I can say is:
I see panic, I see blood on the streets. Stops are triggered. People are loosing a lot of money.
I also see that EURUSD tested the bottom into the close and longs held their ground.
All of those politician saying things are worthless idiots.
This Former PM was in sleeping until now?
Quoting Sarkel
All I can say is:
I see panic, I see blood on the streets. Stops are triggered. People are loosing a lot of money.
I also see that EURUSD tested the bottom into the close and longs held their ground.
i agree.. enough for this. HE'S statement on the wrong time, when EUR go down in this day.
Quoting EuroTrader
This Former PM was in sleeping until now?
It is media who creates panic and I suspect they chose timing for a reason.
Quoting EuroTrader
This Former PM was in sleeping until now?
He was in long position n decided to take a short instead. He submerged all those long yellow submarines chart further down
THIS IS MADNESS. Margin call. Still Holding on. http://www.flickr.com/photos/ayos/72...in/photostream
the problem imho will be the american markets, they franticly panic on fear of banking institute contagion. Silly them.
I think eu will reach the 1.2650 mark tonight
  •  Guest
  • | IP XXX.XXX.105.41
Its all about fake basically EUR/USD doing preparation to sit on 130 level
This is absolutely normal, don't know what you guys are excited about?
Maybe we need to play save. But, life itself is risk.
Quoting Sarkel
All I can say is:
I see panic, I see blood on the streets. Stops are triggered. People are loosing a lot of money.
I also see that EURUSD tested the bottom into the close and longs held their ground.
All of those politician saying things are worthless idiots.
Greece will leave, euro is down. Oh no! Greece will not leave and euro is up. There is a real risk to leave for Greece and euro is again down. Everyone is talking about Greece euro is moving, even now a transit former of a gouvernment who has no power !! Who else did not talk yet about Greece? And Forex is following every word from everyone like a stupid !!!
  •  Guest
  • | IP XXX.XXX.239.119
I left trading Eur long time ago because of the sh1ty news , Trade gold, learn Fibo and you will be fine...
What I don't get is why USD/JPY is moving exactly like EUR/USD. Perfect overlay. Any explanations?
Quote
Former Greek PM: risk of Greece leaving leaving Euro is real
oh Greece is leaving twice - that is why is this drop..
its simple follow the trend as its your friend ..but be where the bend at the end !!
euro still 1.2680, then go up,,,
Quoting Gaaikema
What I don't get is why USD/JPY is moving exactly like EUR/USD. Perfect overlay. Any explanations?
USD is heaven for EUR/USD and JPY is heaven for USD/JPY. In case of risk care through world situation you can see like this move.
Seems to me that most of these news here only exist to justify and excuse big movements in the market that have started long before the news release. Think about it. Every time something happens people go "Holy ?!$# they say XY has happened! That's why AB is dropping!" When in reality the drop has started long before the news and those who caused it just needed an explanation so that nobody realizes that they actually trade charts that dumb Mr. Retail can't read.
Quoting Alki
USD is heaven for EUR/USD and JPY is heaven for USD/JPY. In case of risk care through world situation you can see like this move.
Thanks Alki, so it's all relative. But I find the pattern similarity incredible. Euro and gold have also seen similar patterns this year. I find it curious and find it still hard to understand how precise the patterns can be.
Maybe there is sense here.
Quoting Yojimbo
Seems to me that most of these news here only exist to justify and excuse big movements in the market that have started long before the news release. Think about it. Every time something happens people go "Holy ?!$# they say XY has happened! That's why AB is dropping!" When in reality the drop has started long before the news and those who caused it just needed an explanation so that nobody realizes that they actually trade charts that dumb Mr. Retail can't read.
Quoting Yojimbo
Seems to me that most of these news here only exist to justify and excuse big movements in the market that have started long before the news release. Think about it. Every time something happens people go "Holy ?!$# they say XY has happened! That's why AB is dropping!" When in reality the drop has started long before the news and those who caused it just needed an explanation so that nobody realizes that they actually trade charts that dumb Mr. Retail can't read.
Been saying this for a while but people are so hooked up with hoodwink - they are all hard at analysis of news and eco releases - when it is just the order flow they need to follow.

Once retailers stop acting like economists and start acting like traders then they will stop losing and start making money.
gold has been a traditional safe haven, however more recently it has behaved just as any other commodity. when stocks go up so do commodities including gold, go up and euro go up this is risk on trading . when risk is off . dollar gains the yen gains even against the dollar, commodities fall including gold . however gold could become a safe haven and that will happen when gold and the us dollar go up together this is not set in stone but a general way to see how things are connected.. hope this is helpful
Gaaikema
Quoting Loadedgun
Been saying this for a while but people are so hooked up with hoodwink - they are all hard at analysis of news and eco releases - when it is just the order flow they need to follow.
following order flow only is boring, traders have to comment events and events makers are providing some farting to bored traders.... :] how it cuold be staying only at chart 5/7 without newses, rumors, farting, etc....
Quoting andyvauxhall
gold has been a traditional safe haven, however more recently it has behaved just as any other commodity. when stocks go up so do commodities including gold, go up and euro go up this is risk on trading . when risk is off . dollar gains the yen gains even against the dollar, commodities fall including gold . however gold could become a safe haven and that will happen when gold and the us dollar go up together this is not set in stone but a general way to see how things are connected.. hope this is helpful
Gaaikema
Cheers Andy, many thanks for your explanation.
  • Post #39
  • Quote
  • Edited at 5:40pm May 22, 2012 5:29pm | Edited at 5:40pm
Quoting Senyor
THIS IS MADNESS. Margin call. Still Holding on. http://www.flickr.com/photos/ayos/72...in/photostream
Dear Senyor - you MUST be a Greek because to hold along Euro position is simply mad.

Your charts are showing a breakdown. The daily charts show a breakdown and this 'rally' from Sunday night was only a 25% fib retracement from the lows.

However I must thank you for contributing to the Forex market and added to the profits in my account.
Quoting andyvauxhall
gold has been a traditional safe haven, however more recently it has behaved just as any other commodity.
That has been because of China and their appetite for commodities. Another problem is that until recently countries stockpiled Gold - now countries are selling Gold to pay their bills.

Quoting andyvauxhall
when stocks go up so do commodities including gold, go up and euro go up this is risk on trading . when risk is off . dollar gains the yen gains even against the dollar, commodities fall including gold .
This is a gross oversimplifaction but pretty close to accurate. However stocks have increased because there is/are too many US $ in circulation thanks to the US Fed and QE2. Since the Fed announced there was no QE3 (or an end to operation Twist (look it up)) the US Stock Market has decreased as people sell. They then take the US $ and purchase US Treasury bonds to secure themselves 1.7% interest and can not lose.

One of the reasons oil increased is that as the US$ fell in value the Middle Eastern countries needed to increase the price of oil to stabilize their incomes.

Quoting andyvauxhall
however gold could become a safe haven and that will happen when gold and the us dollar go up together this is not set in stone but a general way to see how things are connected.. hope this is helpful
Gaaikema
Gold is usually a 'safe haven' when there is INFLATION. Nowhere in the world is there any hint of inflation. In fact one of the reasons that Greece will leave the EU is that they need to devalue their currency and the ECB will not lower rates. Therefore people go to Turkey instead of Greece and the economy in Greece suffers.

These are BASIC principles of economics and trading - look back to the Argentina crisis in 1999-2002 and to the 1997-1998 Asian contagion for references.
Quoting palinco
I think eu will reach the 1.2650 mark tonight
and may be it will be a good-bye-eu night!!!
So even UK banks are prepared for Greek leaving EU (as per the news) and Greek leaving EU is just another threat for another bailout. The amount estimated was 500 bln to 1 trillion euro. Thats what Papdemos said its just a consideration. But aftermath, if it really leaves Euro then euro would fall, the reason being is Euro is considered a common currency for Europe, if one country left then other troubled countries are on the list and would take a chance as well and then the whole "Common currency" concept is gone. So I don't think Greece would go out of their EU community.
(just a thought)
I think the mechanism of the market has been exposed..
Quoting Senyor
THIS IS MADNESS. Margin call. Still Holding on. http://www.flickr.com/photos/ayos/72...in/photostream
Madness? THIS IS SPARTA!!

http://www.youtube.com/watch?v=1G-4n...feature=fvwrel

Or is it Patrick?
Quoting fxsport
Dear Senyor - you MUST be a Greek because to hold along Euro position is simply mad.
He's not a Greek! He's a Spartan warrior! Hua!! Spartans never retreat! Spartans never surrender! Hua!

This is where we hold them! This is where we fight!

http://www.youtube.com/watch?v=4HMrYEjPMGY
Quoting chandresh
So even UK banks are prepared for Greek leaving EU (as per the news) and Greek leaving EU is just another threat for another bailout. The amount estimated was 500 bln to 1 trillion euro. Thats what Papdemos said its just a consideration. But aftermath, if it really leaves Euro then euro would fall, the reason being is Euro is considered a common currency for Europe, if one country left then other troubled countries are on the list and would take a chance as well and then the whole "Common currency" concept is gone. So I don't think Greece would...
Actually chandresh the stronger EU members don't really want Greece anymore because it will take MORE bailout money that these countries are loaning to the Greeks. Why should Germany, Denmark, the Netherlands, etc., give any more money to Greece? Greece will never be able to repay them. If you lived in Germany would YOU like to know that millions of Euros are going to subsidize the Greek's instead of repaving the Autoban or other projects in Germany?

Also you have to understand that not if, but when, the Greek government reissues the Drachma there will be an exchange rate. Initially 3 drachmas = 1 Euro but shortly (with days/hours) it will soar to 10 drachmas = 1 Euro or more.

The ECB and IMF will not get repaid. Banks that have bought Greek bonds in Euros will not be paid because Greece will have Drachmas. It will be a mess (look up Argentina crisis 1999-2002 for a reference).
Quoting Yojimbo
He's not a Greek! He's a Spartan warrior! Hua!! Spartans never retreat! Spartans never surrender! Hua!
That's why Sparta is no longer around! Makes for a great movie but really poor economic policy
Quoting fxsport
...This is a gross oversimplifaction but pretty close to accurate.
Love it!
Quoting fxsport
That's why Sparta is no longer around! Makes for a great movie but really poor economic policy
Man... Have a laugh. It's called humor.

On a second thought... I'm imagining a topless sixpacked Angela Merkel in Spartan armament to hold the hotgates of ECB.
yojibo, you watched 300 far too many times. hehehe
Quoting Yojimbo
It's called humor.

On a second thought... I'm imagining a topless sixpacked Angela Merkel in Spartan armament to hold the hotgates of ECB.
That's not humor that's HORROR!!!!

closed my euro and aussie trades for 250 pips might have closed too early but i will sleep better
Quoting Senyor
THIS IS MADNESS. Margin call. Still Holding on. http://www.flickr.com/photos/ayos/72...in/photostream
Is this a real account?
Quoting Senyor
THIS IS MADNESS. Margin call. Still Holding on. http://www.flickr.com/photos/ayos/72...in/photostream
Still holding on???? Euro/Usd is 1.2650 but dropping as early foretold. Maybe you should double up your longs? lololololo
Quoting Senyor
THIS IS MADNESS. Margin call. Still Holding on. http://www.flickr.com/photos/ayos/72...in/photostream
Hey man, not to worry, You will still have $630 after margin call.
Your losses are only $200.
  •  Guest
  • | IP XXX.XXX.156.23
http://www.cnbc.com/id/47528167

Has anyone read this?
Papademos: No Preparations in Greece for Leaving Euro
looking @ the latest charts this morning.....
There is high probability of an insane move down to 1.19

Quoting Guest
http://www.cnbc.com/id/47528167

Has anyone read this?
Papademos: No Preparations in Greece for Leaving Euro
  •  Guest
  • | IP XXX.XX.55.173
.. Nice Greek. I think they have a lot of money right now. They get much money from the bailout (as they say Greece won't leave EU), and then disappear with money from traders who takes long position (as they say risk of Greece leaving EU is real) ..
Maybe not this time but there will be Grexit for sure, especially if Syriza takes over. At some point enough will be enough. It will be even faster if Spain goes to Troika for bailout.
  •  Guest
  • | IP XXX.XXX.34.173
Quoting fxsport
Initially 3 drachmas = 1 Euro but shortly (with days/hours) it will soar to 10 drachmas = 1 Euro or more.

.
but to be serious though, does that mean we go back to dirt cheap greek island holidays again
Quoting Bakker
They should have kicked the Greeks out of the EU before the damage became too big.
There is a small problem here ... Europe needs Greece as a smoke to cover it's real problems ... there are much much larger problems than Greece, but now it is easy to blame a small piggy
Which pair are u looking at?
Quoting kayla2011
looking @ the latest charts this morning.....
There is high probability of an insane move down to 1.19

the euro was doomed from the start with no leader,greece as a people have no choice but to leave,the people say screw the banks,can't blame them,eur usd going into the 24's http://imgur.com/RhsGU
Quoting fxsport
Actually chandresh the stronger EU members don't really want Greece anymore because it will take MORE bailout money that these countries are loaning to the Greeks. Why should Germany, Denmark, the Netherlands, etc., give any more money to Greece? Greece will never be able to repay them. If you lived in Germany would YOU like to know that millions of Euros are going to subsidize the Greek's instead of repaving the Autoban or other projects in Germany?

Also you have to understand that not if, but when, the Greek government reissues the Drachma there...
Thanks my friend, I guess you made a point, I wouldnt have thought of it. So when we hear news of Greece leaving euro, why does EUR fall? or is it just me who feels so?
  •  Guest
  • | IP X.XXX.129.91
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  • Story Stats
  • Posted: May 22, 2012 3:30pm
  • Submitted by:
     Newsstand
    Category: High Impact Breaking News
    Comments: 65  /  Views: 12,677