Joined Feb 2011
Status: building a shortfolio
The possibility of Grexit has been a threat for six months now. Now that its off the table the FOMC can cruise into rate hikes, additionally EUR isnt subject to the possibility of a sudden risk off event for European stocks that would have required massive liquidation of EUR short hedges that foreign investors had on. If we take out 1.1120 here in the next few hours I'd be more encouraged. Folks have been waiting for this moment a long time, and are very very eager to ride a trend again.
What in the world has the Greek government been doing since entering office. They have worsened the economical situation of the country dramatically since they began their rule. This is a farce. They have played with high stakes and have lost.
The loosers are the people who elected them. They now might feel like the other EU leaders felt during the negotiaton with the Greece government, lack of trust. Disbelief of their actions.
It is a pity. The Greek people would be much better off with either of the end of the scale solutions. Either agreement at earlier conditions that were better for Greece or an exit of the EZ.
When the turmoil settles the EUR will rise again. I will look for long entries at around the 1.0950 level.
Do not let the cost of being wrong, exceed the prize of beeing right