Forex Market Commentary
Apart from gold bullion dropping slightly the markets have been relatively inactive on monday's session. Today's crisis talks with European politicians on Greek debt has not been resolved today. French President François Hollande added “Greek proposals have improved, but aren’t there yet.” The Greeks have been given 48hrs to get their act together in tough negotiating from the ECB. But there doesn't seem to be the political will on the Greek side in resolving the country's issue of debt to bond holders. June 30th is the date where the bundled repayments are due to the IMF.
Bloomberg today runs an article discussing the Greek situation and why investors are not worried on default. It turns out that investors are more seriously concerned with any blips that could happen as a result of the China equities markets coming to a halt. Moreover given the excruciating amount of time spent on this debt haggling issue, investors have had plenty of time to cap their losses and hedge their positions so as to minimize any losses incurred by exposure to Greek fixed income products. Thus effectively the markets have moved efficiently to demonstrate how hedging can minimize risk exposure and take the stuffing out of any Greek theatrics. Should they stay or should they go? has become a non-event.
http://www.bloomberg.com/news/articles/2015-06-22/barclays-investors-aren-t-really-worried-about-greece
and -
http://www.bloomberg.com/news/articles/2015-06-23/china-stock-futures-sink-after-worst-week-since-financial-crisis
Always look to support and resistance band lines as the key to understanding in the long and short term where prices are converging. Professional technical traders use 50 day and 200 day medium and slow moving averages as fundamental cornerstones for interpreting the direction of price action.
USDX
US Dollar
94.838 +0.515 +0.66%
94.838 +0.515 +0.66%
Support 93.362 Resistance 94.954
Forward 1 year - 95.233. Low growth positive line.
Forward 1 year - 95.233. Low growth positive line.
EUR
1.12686 -0.00537 -0.47%
Support 1.12513 Resistance 1.14733
Forward 1 year - 1.14770. Low growth positive line
Crude Oil
60.02 -0.36 -0.60%
Support 58.00 Resistance 61.36
Forward 1 year - 62.70. Low growth positive line.
Forward 1 year - 62.70. Low growth positive line.
Gold
1185.95 -1.50 -0.13%
Support 1,180.3 Resistance 1,207.3
Forward 1 year - 1,208.8 Low growth line.
Pieter Bergli - DeLoren Trust Holdings
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Forex market commentaries and media reports for free
Disclaimer - U.S. Government Required Disclaimer - Commodity Futures Trading Commission
Futures and Options trading involves risks of losses. No representation is being made that any reader and account will or is likely to achieve profits or losses similar to those that are being discussed on this blog http://forexeducationperspective.blogspot.com/. The past performance of any trading system or methodology discussed is not necessarily indicative of future results.
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
All trades, patterns, charts, systems, etc., discussed in this blog http://forexeducationperspective.blogspot.com/ are for educative and illustrative purposes only and not to be construed as specific advisory recommendations for actual trades. Disclaimer - http://forexeducationperspective.blogspot.com/ bears no responsibility for the trading actions of its readers
Pieter Bergli - DeLoren Trust Holdings
A non-profit commitment to provide education on the properties of currency markets
Forex market commentaries and media reports for free
Disclaimer - U.S. Government Required Disclaimer - Commodity Futures Trading Commission
Futures and Options trading involves risks of losses. No representation is being made that any reader and account will or is likely to achieve profits or losses similar to those that are being discussed on this blog http://forexeducationperspective.blogspot.com/. The past performance of any trading system or methodology discussed is not necessarily indicative of future results.
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
All trades, patterns, charts, systems, etc., discussed in this blog http://forexeducationperspective.blogspot.com/ are for educative and illustrative purposes only and not to be construed as specific advisory recommendations for actual trades. Disclaimer - http://forexeducationperspective.blogspot.com/ bears no responsibility for the trading actions of its readers
