'Last attempt' to seal Greek deal with creditors fails

YES a gap may close, but when and IF it does, it could go 300 pips before it 'closes' you must only use a system with well designed SL and TP for trading gaps, as they can be profitable, but you must also take into account they will likely occur on the weekend and when they occur a spread will likely be 2x,3x,4x,10x higher than normally as conditions are very thin usually around these times there so increasing your risk.

To some extent it depends whether the Greeks have a plan-B.

The truth about the Greek situation is that the people do not know what the politicians are going to do next, and the fruits of ingrained corruption have brought Syriza to the fore. Tsipras, et al, are working in the interests of their people, an unfortunately uncommon characteristic of politicians.

It could get worse. If you have 3/4 hour to spare there is some mind-expanding enlightenment here.

I am beginning to find these kind of ignorant swipes offensive. Tone it down please.

By instituting the Bond buying program, the ECB now has the ability to print a greater supply of money to support both banks and governments and isolate Greek contagion.

Draghi made a point of not including Greek bonds as part of the program for a reason.

http://www.reuters.com/article/2015/03/26/us-ecb-draghi-greece-idUSKBN0MM22820150326

Plan B wasn't officially announced back then because they wanted to avoid a negative reaction to the prospect of failed negotiations with the Greeks, but the smart money saw what was happening which is part of why the Euro began pulling back off the bottom after the program was announced.

The BIS and IMF see the Euro in a price stability corridor centered off the 1.100 handle when factoring balance of credit in the SDR basket.

So, in the same way the Draghi Put operated in 2014, the Lagarde Call is operating so far in 2015. Of course exogenous shocks can still affect Euro valuation, but in the interim Draghi and Lagarde have achieved what they set out to do.

As far as Greece is concerned, Tsipras lost the bargaining chip he had early on when Greece still had a primary budget surplus by allowing Varoufakis to waste time on narcissistic showboating and brinksmanship instead negotiating in earnest to reach an agreement.

Now with the ECB no longer constrained by the Maastricht Treaty, Tsipras lost the bargaining chip of Eurozone contagion as well. Tsipras' miscalculation of being able to blackmail the EU could ultimately be the undoing of the Syriza party.

It will be interesting to see how this plays out.

Mate the ECB is propping up the Greek insolvent banks under the ELA, in the meantime they can blackmail us and play with our balls.

I think old mate Tsipras needs to accept the realities of the GFC and Man-Up to start taking his medicine like the rest of the world has had to do.

Greece needs to come to the realisation that they cannot spend money they don't have, the world does not owe them a living; we all respect Greece and their importance through the ages however it's time they came into the 21st century!

So do I Cool. The 'resolution' that is to be expected, is ultimately (as Buytosell put it) Greece out.

yap many more .....and more...... suck

For sure this clown (Eurogroup) would find in the last min ute a bridge solution to financing the greek until september, in this time they try everytingh to "remove" Tsipras from his chair. This is story that already happened, So we see in the future if i'm wrong. Remember the Draghi's words "WE DO EVERITHING TO SAVE THE EURO" i say all!

http://www.nationaldebtclocks.org/debtclock/greece

Who said Euro has to go below 1 if Greece gets kicked out?
Surely the weak being kicked out the Euro actually may strengthen it.

Small cap down. 20-40pips it seems.


And, its not the "last attempt" by any means. There are million ways to extend this circus and they will most likely do so.

gap down on the open EURUSD

Interbank rates indicating lower open. Real fun won't begin till London

Who cares.

Don't bet on that

^ Yes, gotta laugh at last attempt.

It has been make or break talks for several months now.

I don't care anymore lol

Pull the ELA right now and let this ship go down ASAP.

Let's get this over with for once and for all no matter what the consequences.

RELAX!!! It's Sunday. The Greeks are enjoying family, friends and wine!
Hooopalaaaaaaaaaa!!

The problem is the banks. All Greek banks are in big trouble no matter what.

No matter greexit or not. Whatever. The only important thing is how to make some profit/cash from that situation... LoL

Given enough time market will always close the gap. 40pips isn't much considering the range at the moment, I suspect it will be closed fairly quickly.

Maybe Thursday they resolve it and Euro rise up... 😜😜😜

Yes, they will save the euro and Greece. The worst thing they could do is leave out Greece from the eurozone. And all involved parts , Greece, IWF, EUROGROUP, ECB, etc. , know that.

"last attempt"

I foresee many more last attempts before this is resolved either way.

I knew something was to happen over the weekend. I close my trades,Friday even those with potential to get me more pip from the long on EU, GU and AU.

There are a few member states in the EU with lower standards of living than Greece and a more successful track record of fiscal discipline.

No, force change of what needs changing in Greece. This is for the people of Greece, because otherwise in the long run they will be third world.

There will always be many more attempt to resolve this issues. Traders just need to watch and not be trapped.

Greece will be in EU no matter what. However, problem still continue that would make E/U drop below 1.0

They do not seem to have a plan at all except delusions

Maybe they will find a solution on thursday... THEY HAVE TO RESOLVE IT. euro will rise...

Impossible for the EU leave Greece out from the eurozone. For all involved parts the best thing is to save Greece and find a solution. And Greece WILL BE SAVED.

Sunday open 40 pip gap lower. The question is will the market buy to close the gap?

if it was really the last attempt the pair would be trading sub parity...

Greece can default but still remain in EU. Germany is probably playing this card. They will delay Greece exit long enough till the next Greece government got elected.

Force forgiveness of debt.

And the soap opera continues.........

People are still hoping that Greece can make an agreement that's why even if US released a good data its still going up but wait until the FOMC meeting