EURUSD

Sorry but why you guys go long on eu when greece if about to get default ? Just curious

Wait for IMF statement to confirm default...

Hoping for a whipsaw effect, counter trading all the shorts, etc.

Local news here announced Greece told IMF they cannot pay back the debt.

Oh thanks

The current long/short picture doesn't tell full story and squeezes can only go so far - you can hike price to the moon but who are you going to sell to? That is why big pyramiding schemes crash and burn if you read market history books - inexperienced manipulators don't know when they've gone too far. Right now I'm reading it's gone too far so only way is down. Fools went long around 1.14 resulting in immediate plummet and are now stuck giving way for down move. There is now potential to unstuck people near 1.06 - I'm not so sure about the fools at 1.04, they should average to exit b/e instead of hoping for 1.04 as that just doesn't seem likely. Best time to go long is when big boys manage to overwhelm the market makers causing a scramble, that is point of no return and new major leg. If yesterday had been that move, there would be no possiblity for such big retrace today and the volume would have been massive.

This move targeting 1.15 didn't have institutional support as there was big sellers in 1.14. It was more of a hedge/retail driven squeeze that exhausted. Leaving stuck people at 1.14 enables the future re-rest of 1.15 with much more certainty than if there was no sellers there.

The illiquid erratic moves could also be a symptom of lack of interest from institutions to participate at these levels, so that's why I am targeting 1.06. I'm not going to try to predict exact number here - you have to be watching market 24/5 and also sell/buy in small bits and pieces if you want to build a larger position. It doesn't matter if you are some small retail or whatever - trying to take a one shot large leveraged position is a big gamble as then you end up using some tight stop that the market makers notice and take out - or you risk a big squeeze as the market notices you weren't doing things the same way big boys do - retail accounts are flagged retail so that already can be an issue if market maker is the counterparty)

if you state that fools went long (well I'm not so sure why you called them fools) than you should be very sure of your position else ....

twitter : #IMF CONFIRM #GREECE MISSED THE $EUR 1.6BLN PAYMENT.....SHOCK!!!...NOT!

No where to go but down. Daily chart settling in tight band, momentum indicators all down, bollinger bands opening up again. If there is a move up it will be short lived.

It is shock to me when IMF said they are now considering extension to Greece. Who won the race ? It is Greece.

When you give loan to somebody, you have to listen to whom you lended. Whether it is pesonal or Official. lol

Out with few (+) not sure what gonna happen tomorrow

market at a standstill, can you feel the fear?

Totally this greece bullshit just have been too long and I just want it to finish as soon as possiple , up or down doesnt matter just ben in some destination take some trend trades , these daily up and down kicks my ass , im down 1% again

Me too, I am down today. But now I have taken a short trade in USD/CAD. Has been up today and expect it to correct 20/30 pips.

I'm SHORT in EUR/USD! Go SHORT if you want to make money in the long run!

My stop to USDCAD is 1.2505.

Well in my book if you go long and then price moves 4-5% against you, it wasn't such a good time to go long. Foolish time I'd say if you had leverage. Ok you could say they all started to scale-in, so it's possible a move down to parity is big boys slowly scaling in starting from 1.14 going down, target above 1.28. In that sense perhaps they aren't fools but for leveraged speculation it would have been foolish to go long at 1.14 when every thing I follow said down there.

Now you could also argue that the gap and gap fill changes situation, but I think the reality is that price is near equilibrium and the gap was just indication of desire to go lower. Gap fill was just some mm scrambling to cover. (or attempt to squeeze shorts or intervention or whatever)

From a logical perspective, Greece defaulting and leaving EU is like cutting off someone's foot that has gangrene, you saved the patient and that's about it.

Greece is a money pit and they show no signs of cutting back on anything, they just want to panhandle and go on with their cozy life.

So them leaving EU is a plus for the EU economy and the Euro

The gangrene is so bad it made its way to wikipedia

https://en.wikipedia.org/wiki/Tax_ev...tion_in_Greece

well someone needed to say that... Just wished it was the IMF.