Merkel Signals Greek Write-Off Possible as Buyback Begins

This is a carrot to the Greeks, "get your house in order and we will let you off". When(if) the Greeks balance their budget this will be hugely positive for the Greek economy. Also Merkel can say this now because it is not going to happen in the near future.

It's really simple:

1) On a techincal level, the e/u has had 3 weeks of going up, on the daily it's gone up 12 of the last 14 days, on the 1hr & 4hr we have been getting Higher Highs and Higher Lows....Until that trend changes, it's safest to buy the dips

2) on a fundamental level the e/u is bullish and here's why...while things are still crappy in europe, they are improving overall from what the were(even if it's still crap) and that's all people care about is that it's better than it once was. Most believe the euro will stay together and not fall apart, which they weren't so sure of earlier this year. Also, regarding the fiscal cliff it's a lose/lose situation for the US $. If the US solves it's fiscal cliff then it's risk on/rally on which is euro bullish. If the US goes does not solve the fiscal cliff then the US goes into a recession and that's US $ negative/euro bullish. Again, it's safest to buy the dips on euro until this sentiment changes.

3) On a neither technical or fundamental level you had Draghi say he'd do whatever it would take to save the euro, Merkel agree, Bernanke & the Fed want a weak dollar and support the Euro, China has come out to support the Euro, the BOJ supports the euro and wants their currency weaker, SNB has been buying Euros to keep their currency from getting too strong. Again, the safest trade is buy the dips until this trend changes!

I highly doubt with just a few weeks left in the year we'll see any huge moves...more of a consolidation within a few hundred pip range. But that's just imho.

That's it for me, enjoy the rest of your year....Happy Holidays and Trade Smart!!!

http://www.forexfactory.com/tw0eleven

Happy holidays to you, thank you always for your review!
I'll stay a few more days still have some positions to close! Let me give you some information from inside, Portugal sent to survey the level of sub-soil, which made ​​it possible to come we have one of the largest gold mines in the open, as the 10 meters, already becomes possible to make profitable extraction. Further, the survey which found that we had to, one of two, the largest reserves of lithium in the world. The exploration contracts have been signed for Gold, Copper, Iron, tungsten, all with companies from Canada and Germany!
This has to give an increase in GDP of 2% and a reduction of unemployment, expected 8%. Therefore gets attention EUR / CAD and AUD / CAD.

CHEAP BUY, SELL HIGH

wtf . write off ? what u think the investor gonna be merkel ? stupid !!!!

Is someone actually going to buy the Euro based on this news, other than a deranged mental patient?

Missed my EURJPY target by merely 5 pips. So, adios EURJPY.

There is no other better options.

She is trying to buying time so the Greeks stay in the euro zone for a little longer. She must be desperate.

Dunno, I think it's "safest" as you term it to stay with the simple one long trade that many will have entered as the trend changed on or around the 18-19 Nov.

lol budget surplus? Somebody is dreaming.