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Greek Negotiations Not Going Well

The negotiations on the 3rd Greek bailout in five years are not going well. A hardline camp led by Germany expressed serious reservations about the Greek proposal. Trust has been destroyed by the Greek attempts to play chicken with the Eurogroup in the past few months. Now even after they've done a complete U-turn, the Germans are not buying it.
According to newspaper Frankfurter Allgemeine Sonntagszeitung, the German goverment floated the idea of a 5-year Euro hiatus for Greece. Given the recen…
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Stopped Out of Euro Short, Again

I took only 1 trade today, Euro short. I used the EUR/HKD and exited at a small gain, close to breakeven. I can't tell you the exact prices because some parts of the Dukascopy community don't work atm.
Tonight we have the RBA meeting at 12:30 PM EST, 6:30 AM CET for us Europeans. While the Bank is expected to keep rates on hold, surprises are possible. I'm biased to the short side in this pair. On Tuesday we will have another round of meetings between Eurogroup members. Greece is supposed to sen…
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Greek People Have Spoken

With a clear victory of the NO camp we're back on the negotiation table and this time around the pressure for reaching a deal is on the Brussels side after this morning announcement that Greek FM Yanis Varoufakis has step down in order to help the negotiation going further and after Brussels demands that they want him out this puts pressure on Brussels side as now Greece has some leverage to work with and any fail to reach an agreement will be blamed on Brussels.
Expect some volatility in the FX…
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Is Grexit becomining a reality?

With the referendum results from Greece slowly coming out now and showing that the NO vote has taken the early lead. With this the prospects of a deal will have significantly diminished and Greece may be on its way out of the Eurozone. Though opinion polls show a much closer race the results may be interesting and the Euro may trader weaker in the pre-open period today.
The official results of the referendum can be followed on the website http://ekloges.ypes.gr/current/e/public/index.html?lang=e…
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Greece Referendum and The Holiness of God

Greek referendum has already begun and this is truly an historic vote as never before any country in EU has been so close to set the stage for an exit out of the European monetary union. The consequence of such an disruptive event can have violent dislocations in the currencies market and I hope by now you have an idea on how I'm going to play the Grexit scenario. You know the tension has hit a new milestone when the holiness of God is invoked as per recent comments from Greek FM Yanis Varoufaki…
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