EUR

obviously at some point 1.45 but in the next few week there is no chance. 1.32 will come with more positive info from US. currency movements are not all about panic and risk they are about prospects of growth. As US will come out first from this recession we will probably get a much stronger dollar this year on the dollar index. however in the meantime players seem to me more concerned about greece but u cant look at movements in isolation.

spec, I guess this time they are right. Of course it's all a matter of time period. In the long run I'm sure that we will see 1.45 again. The only question is, how deep goes it before? I don't think we will reach 1.32 though.

I agree Bernhard und willkommen hier! :)

I don't see this 1.32 level coming anytime soon but I was already wrong in the past so don't count on this. ;) Actually I did very well with my longs so far and still have a small one open and let it run. But I added a EUR/JPY short at 124.50 as well.

Hi Folks !

I think the play of the big boys to hammer down the Euro is over.
Hopes are rising that Greece will do all they can to reduce their debt despite
all the rebellion inside the country.

I see a rebound of the Euro to the 1.42 resistance level.

Commercials are net long at extreme levels also the open interest.

Lets see what happens..

Regards

Bernhard

The Greece situation:

Sydney, March 14: According to a Reuters report, a source within the EU revealed on Saturday that the EZ Finance Ministers meeting on Monday and Tuesday will result in an agreement on a mechanism for providing financial aid for Greece - if it is needed. The agreement will leave out any sums until Greece asks for them.
A UK Guardian report on Saturday said that EZ FinMin meeting on Monday/Tuesday would result in an agreement to provide aid up to 25 BLN EUR if needed. The EU source quoted by Reuters insisted that no exact figure had been agreed to.
The senior EU source was quoted as saying: "I think we should be able to agree on principles of a euro area facility for coordinated assistance. The European Commission and the Eurogroup task force would have the mandate to finalise the work." He added: "It would be the principles and parameters of a facility or mechanism, which then could be activated if needed and requested.
You would have a framework mechanism and you would have blank spaces for the numbers because there has been no request (from Greece) yet."

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What are the implication of such agreement. Are other PIGS lined up 'if needed' ? What are the implications both immediate and long-term for the Euro. Is it positive or negative for EuroZone?