UPDATE: Mastermind Mentoring Program registration is over. I’d like to thank everyone for your support and patience during the past 2 weeks. Now I am going to go back and concentrate on trading exclusively. I with you all a great trading week.
Here is the first part of my weekly outlook which I think will help you in your trading decision this week, as the market may be in risk aversion mode….
Last week turned out to be an uneventful week as far as news trading is concerned, but towards the end of the week concerns over Greece’s dire situation once again surfaced as talks of a European bailout or even a possible IMF bailout became apparent. Because of the uncertainty over this issue, Euro suffered a strong bearish pressure all the way until the end on Friday.
With the EU Summit scheduled on the 25th~26th of the month, Germany’s Chancellor Merkel is playing down the issue of Greece by stating that it is not even on the docket for discussion, and the fact that there is no bailout plans in the works because Greece didn’t ask for it in the first place. The confusion and uncertainty that is taking place right now as Greece is clearly in need for additional funds (16 Billion Euro by end of April), but without a clear source for it, we are likely to see Euro maintaining its weak tone, and in term, taking all European currencies with it, as risk aversion reigns over the market.
An article in WSJ (Wall Street Journal) today by Bradley Davis talks about this “Extreme Uncertainty” and the effects it will have the market. As Davis puts it, no matter what the final outcome of this Greece situation is, we’ll see a weaker euro this week, regardless, and I tend to agree with him… Here is his article
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{ 2 comments… read them below or add one }
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