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  • #773,861
  • Mar 19, 2013 6:16am Mar 19, 2013 6:16am
When they want cheap EUR will see all the dramas starting from Berlusconi, Cyprus and more to come as long as it serves a purpose. This will make the great analysts on FF busy for awhile until the next drama

Draghi will show up when it is getting too low. They talk it up and down. Samething everywhere as for JPY and USD.

Just ride the trend and don't try to change it with micron lots. It will fail
  • #773,862
  • Mar 19, 2013 6:16am Mar 19, 2013 6:16am
Quoting Firstboss
Banks always privatize profits and socialize losses - the usual business for them

Bailing out, nationalizing, bankrupting or liquidating problem banks must be an internal matter for the bank's home country, where the primary concerns are safeguarding retail account balances and keeping confidence in the financial system.
However, bad investment decisions MUST be rewarded with losses up to a complete bankruptcy.
OK mate but...

You are telling me you are bank based in European Union, you say you are under some supervision of a goverment agency, you also claim you are audited and all...

Tell me one reason why I should not trust my money with you...
  • #773,863
  • Mar 19, 2013 6:18am Mar 19, 2013 6:18am
Quoting Vectamart
I can't help thinking that if the Cypriot government goes ahead with this raid on people's bank accounts and gets away with it, other Eurozone governments will try and copy the idea if they find themselves sinking deeper and deeper into the sh*t.

Is this raid supposed to be limited to individuals' accounts or does it also affect corporate bank accounts?
I think it also applies to corporates

You can see a situation where other governments think they'll get away with it and give it a go, the damage from all this could be limited if Cyprus does indeed prove to be a special case. But if somebody else tries it on, then bank runs will start
  • #773,864
  • Mar 19, 2013 6:22am Mar 19, 2013 6:22am
Quoting math_GB
OK mate but...

You are telling me you are bank based in European Union, you say you are under some supervision of a goverment agency, you also claim you are audited and all...

Tell me one reason why I should not trust my money with you...
You can only trust banks up to the amount guaranteed by the national insurance schemes.
The rest is risky and you have to use your judgement.

This is why when investors flee from risk during crisis they park all the money in US and German government bonds naively considering those 100% safe. Although they are relatively safer than any bank
"Luxury is one of the basic needs", (c), Don Corleone
  • #773,865
  • Mar 19, 2013 6:23am Mar 19, 2013 6:23am
Quoting Firstboss
Banks always privatize profits and socialize losses - the usual business for them

Bailing out, nationalizing, bankrupting or liquidating problem banks must be an internal matter for the bank's home country, where the primary concerns are safeguarding retail account balances and keeping confidence in the financial system.
However, bad investment decisions MUST be rewarded with losses up to a complete bankruptcy.
you are missing the point.......

if you allow Cyprus to default and the investors to lose, you need to ask who the main investors are.....

1) EU = other governments indirectly
2) other governments directly
3) financial institutions particularly banks

as 3 has mainly been bailed out by the government then that means that the top 3 main investors are foreign governments

that means you me and every other citizen of those countires will be taking the Cypriot debt on if they default so it is nowhere near as simple as saying let them default and the investors lose, because it will be the indirect investors (citizens) that actually lose the most because of it, in which case you may just as well apply a 10% levy to all savings across all countries are you up for that because I am not.

and that is why they bailed Greece and why they will bail Cyprus
  • #773,866
  • Mar 19, 2013 6:25am Mar 19, 2013 6:25am
I think Putin will be happy with paying 10% to wash his money..
Quoting MaxDoom
more interestingly is what will happen when the banks re-open.....

they estimate a 10% withdraw

but we all know how officials tend to under-estimate

you could even see a complete run on the banks especially if the foreign money all gets pulled - but of course it is in cyprus for a reason and they might see the levy as reasonable taxation versus moving it.. either way I would expect more than 10% to move which could start another panic
  • #773,867
  • Mar 19, 2013 6:29am Mar 19, 2013 6:29am
Quoting attila
I think Putin will be happy with paying 10% to wash his money..
to be honest I think he is a little preoccupied and not yet realized that there is a problem going on
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  • #773,868
  • Mar 19, 2013 6:31am Mar 19, 2013 6:31am
For Monday, the EURUSD is now showing flat bearish signals and might show more negative trading continuously for the coming session in its hourly chart, due to the negative signals brought about by the Cyprus bailout in its fundamentals, prices are still moving into bearish pattern and moving now at 1.2941, and suggest that it may further show more bearish signals. As its 63-day SMA (olive line) and 84-day SMA (black line) both indicates that prices are now showing its bearish stance and might continue its drop for the coming hours. Its three brother bearish pattern is still in place, with its 5-day EMA, 9-day SMA crossing each other and penetrates the 21-day SMA lines indicating its bearish stance. The Bollinger Bands (21) is showing support for its bearish stance as its upper and lower channel are closing in creating a tunnel effect.

In its economic outlook, the markets are still showing negative signals, as yesterday’s massive sell-off pushes the single currency into a sharp decline. With fear of contagion the euro was sold across the board on Monday after the ‘haircut’ on Cypriot deposits. However, it highly unlike for Cyprus Parliament to pass such legislation that would spell undue hardship for its people. The government of Cyprus is hoping to push a legislation taxing deposits through parliament in a bid to stave off a default that could reignite the euro-zone crisis. Today, Cyprus parliament postponed a crucial vote on legislation imposing a levy on bank deposits as part of 10 billion euro bailout plan decided by the EU fiancé ministers last week.

Thus, expect prices to remain bearish as its RSI (14) and MACD (9, 26, 12) showing that prices are still far from being oversold due to its flatness at the moment.
  • #773,869
  • Mar 19, 2013 6:32am Mar 19, 2013 6:32am
Quoting MaxDoom
you are missing the point.......

if you allow Cyprus to default and the investors to lose, you need to ask who the main investors are.....

1) EU = other governments indirectly
2) other governments directly
3) financial institutions particularly banks

as 3 has mainly been bailed out by the government then that means that the top 3 main investors are foreign governments
Yes, they will loose. And then, if the losses are too high for Finnish or Dutch retirement and social security investments, then Finland and Netherlands have to take care of their respective systems. And France can think of bailing out Societe Generale bank if french public is convinced of that necessity.

If bad investment decisions (including by government agencies) do not lead to losses and bankraptcies, it will be a lot more painful, when pyramids of national debt eventually collapse as all ponzy schemes do.

In Cyprus 12% tax scenario, Russian tax evaders will loose about $2 bln dollars - and, as a Russian, I do not feel any sympathy for them
"Luxury is one of the basic needs", (c), Don Corleone
  • #773,870
  • Mar 19, 2013 6:33am Mar 19, 2013 6:33am
Quoting mumuy
For Monday, the EURUSD is now showing flat bearish signals and might show more negative trading continuously for the coming session in its hourly chart, due to the negative signals brought about by the Cyprus bailout in its fundamentals, prices are still moving into bearish pattern and moving now at 1.2941, and suggest that it may further show more bearish signals. As its 63-day SMA (olive line) and 84-day SMA (black line) both indicates that prices are now showing its bearish stance and might continue its drop for the coming hours. Its three brother...
Why do you copy - paste such crap mate...
  • #773,871
  • Mar 19, 2013 6:35am Mar 19, 2013 6:35am
Quoting pipsallday
short 43.1
SL hit on this one @ 50.9 - 7.8 pips cant win em all
Trade What You See Not What You Want To See
  • #773,872
  • Mar 19, 2013 6:38am Mar 19, 2013 6:38am
Quoting attila
I think Putin will be happy with paying 10% to wash his money..
nah , his account exempted from all levy , other wise he will send tanks to cypress

http://indrus.in/assets/images/2011-...putin-tank.jpg
Mohan
  • #773,873
  • Mar 19, 2013 6:50am Mar 19, 2013 6:50am
I will be very surprised if we don't see new lows of the day in an hour time...
  • #773,874
  • Mar 19, 2013 6:51am Mar 19, 2013 6:51am
Quoting math_GB
I will be very surprised if we don't see new lows of the day in an hour time...
Me too. Longing for 1.2880.
  • #773,875
  • Mar 19, 2013 6:53am Mar 19, 2013 6:53am
Quoting pipsallday
SL hit on this one @ 50.9 - 7.8 pips cant win em all

Was this @ £50 a pip also?
  • #773,876
  • Mar 19, 2013 7:00am Mar 19, 2013 7:00am
Today Range DR1 to DS1 now DPP
  • #773,877
  • Mar 19, 2013 7:01am Mar 19, 2013 7:01am
You should all calm down and trust ECB, ELA, ESFM, and ofcourse OUR GREAT POLITICIANS and their great problem solving habilites that got us so used and feel safe and warm at night /sarc
"You're solid gold, see you in hell"
  • #773,878
  • Mar 19, 2013 7:03am Mar 19, 2013 7:03am
no trades just pathetic maybe ny will bring something up
  • #773,879
  • Mar 19, 2013 7:09am Mar 19, 2013 7:09am
In case some banks need replacements or short of atm machines. Mine is for sale...
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  • #773,880
  • Mar 19, 2013 7:10am Mar 19, 2013 7:10am
it can go either way! 1.3030 or 1.2880!
indecision period. I prefer 1.3030
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