Hello Friends,
Good morning, good afternoon and good evening
As I told the members of my club this morning that the market is very, very sensitive
From one side of the market we have had the news from Spain during the weekend and as result the market opened with GAPs. From the other side of the market the gaps have been closed and not only have they closed the GAPs but they closed well below GAP price.
Take for example the EURGBP:
From my point of view this is a HUGE warning sign from the market. I wouldn’t be surprised if this week we will see many zigzag moves on the major pairs.
As we get closer to next week’s Greek election it seems that the markets will be waiting to see what the outcome will be, and this is what may cause the zigzags.
As I told my club members, this week is a dangerous week for trading, and I told what I am telling you now, PLEASE trade carefully and responsibly and don’t take any unnecessary risk. If you are not sure about a trade STAY OUT.
That being said
The EURO to no one’s surprise dropped again against most of its trading pairs. This is after Spanish bonds sky rocketed as Fitch Rating which is one of the three firms that overlooks bonds issued by commercial and government entities cut 18 of Spain’s banks ratings.
Bloomberg Stats:
“The euro dropped 0.2 percent to $1.2453 at 10:39 a.m. in New York. It weakened 0.2 percent to 98.96 yen. The Japanese currency was little changed at 79.45 against the dollar. The Aussie rose 0.4 percent to 99.05 U.S. cents after adding as much as 0.8 percent. The Standard & Poor’s 500 Index rose 0.2 percent.”
Again friends we are in sensitive times, let’s not lose our hard earn profits to uncertain market conditions.
This is time that patience will pay off.
Until next time
Vladimir
