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Greece Saga Final Act

This time around the count down has started for Greece and they are really running out of time. Recent developments in the past 24 hours have been quite substantial and make no mistake about it Greece is going to default as IMF has send quite a strong message that they are not going to move the deadline for the debt repayment which is 30 Jun and the Greek referendum over paying/nopaying the debt is useless.
  • Greece bank Run
Photo Source: TheGuardian

The tell-tale signs of disaster wi…
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Daytrader21 avatar

pipx I just wish I would be that smart to know how things will unfold, unfortunately we'll have to wait and see how the market will open, it will be interesting

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pipx 28 juin

Maybe we can try this on a demo, sell EUR/USD +50 pips above Friday close, I will also mess around  with EUR/CHF :-)

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EUR/USD has just opened at 1.1000....-160 pips gap :)

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Now on EBS is 1.0965 but semi-official FX open in another hour

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USD/CHF in Correction Mode

Even thought back in January USD/CHF crashed due the SNB Black Swan even, caused by SNB decision to abandon the 1.2 peg, we're back near parity level, and this is all due to the US dollar exceptional rally. The broad based dollar strength was playing a key role in this impressive recovery and we should see this pair above current year high around 1.0200 level as soon as the dollar bullish trend resume. However right now we're trading inside a big corrective price structure.
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Update 4: As expected right now we're establishing the next range box between big figure 0.9500 and current top of the range and support level at 0.9070 current bottom. Next week we should see further consolidation.

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Update 5: As expected the market was moving inside a very tight range moving slowly to the downside in order to retest key support level at 0.9070. For next week resistance stands at 0.9300 which is a broken support level that will act as new resistance.

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Update 6: We indeed retested the 0.9300 resistance level and current price is a little bit above at 0.9350 which is still inside the range zone where the market could see a move lower. We need a break and a daily close below 0.9300 round number.

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Update 7: As expected we broke below the key round number 0.9300 and we have gone as low as 0.9240 which is also the current daily low and which should act as support so for the next 24 hours we should expect price consolidate between 0.9300 and 0.9240

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Update 8: The market close above the key resistance level and round number 0.9300, and we where 23 pips away from my forecast

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Black Swan Event Armageddon Style.


In my second blog post of the year I was arguing and making the point of higher market volatility in the year ahead, you can find more about it here: 2015 A Year of Higher Volatility
Did I ever foreseen the level of current madness in the market? By no means NO.
Having said that there where some clues of what is to come as everything was pointing towards ECB aggressive easing measures to be implemented at beginning of the year, and now with EU lawyer approving ECB bond-buying programme as bein…
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CommunitySupport  Thanks for keeping us posted. As soon as I was aware of Dukascopy official statement I've made an update and I was pointing anyone in that direction. It was just an unwanted bad rumor and you can't put your all trust in a rumor, so I've advice everyone to take it with a grain of salt.

Me personally and I'm sure many others are please to hear the good news and I'm looking ahead for another 10 great years with Dukascopy and many more.

Keep up the good work!

Airmike avatar
Airmike 20 jan

good news for us . and good article btw :)

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DUKASCOPY: NO TRADE CANCELLATIONS, NO NEGATIVE BALANCES

Management of Dukascopy Group has decided to take an exceptional decision to cover negative balances on client accounts related to CHF move on SNB decision on 15.01.2015.

In spite of the fact that agreements and regulation allow Dukascopy to claim negative balances compensated by clients, it was decided to release customers from obligation to cover negative balance.

Dukascopy Bank has not cancelled or negatively adjusted any trade concluded on 15.01.2015 with clients during the CHF move.

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Berkeley 20 jan

Dukascopy Bank ... first choice! Keep up the good work!

WallStreet6 avatar

very good article. i agree with Buffet's quote.

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