OK, I REVALUED THE CURRENT SHORT EUR/USD 5 UNITS AT 13475. IN SPITE OF THE EXTREMELY TOUGH WEEK, DRIVEN BY OFFICIALS,CENTRAL BANKS AND OTHER INSTITUTIONS WE CAME OUT WITH A VERY SMALL 42 POINTS PROFIT,SO AT LEAST WE SURVIVED THIS MESS SO FAR. AS 13480/00 LEVEL IS CRUCIAL TO THE VALIDATION OF THE DOWNTREND WE MUST PLACE A STOP JUST ABOVE THIS LEVEL. IF BROKEN,ON A DAILY BASIS,THE TREND IS UP TECHNICALLY SPOKEN ALTHOUGH I CANNOT FIND ONE FUNDAMENTAL CHANGE THAT WOULD JUSTIFY A RALLY TO SAY TO 1.38 OR 1.40
IF SOME RESCUE PACKAGE FOR GREECE IS AVAILABLE THE PROBLEMS HAVE NOT BEEN SOLVED. IT'S BRINGING GOOD MONEY TO BAD MONEY AND IT WILL BE EVAPORISED IN A FEW WEEKS IN THE
ENORMOUS GREEK OVERALL DEBT SITUATION. IT WILL APPEAR NOTHING MORE AS BUYING OR RATHER BORROWING SOME TIME FROM THE MARKETS FOR GREECE TO RESTRUCTURE ITS ECONOMY. THE GREEK POPULATION IS FIERCELY OPPOSED TO ANY GOVERNMENTAL MEASURE AND RIOTS IN THE STREETS ON ATHENS TOOK PLACE ALREADY AND SYNDICATES THREATENED TO CONTINUE DOING SO.GREECE WILL HAVE TO LEAVE THE EURO BUT OF COURSE OUR POWER HUNGRY BUROCRATS IN BRUSSELS WOULD FIND THIS HIGHLY UNWANTED. TO BE CONTINUED! HAVE A NIVE W/E
REGARDS
PETER
Friday, April 9, 2010
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