After the initial knee-jerk gap lower in Asia there's been a bit of support for the beleaguered euro, but rally sellers seem poised too
So we can expect some good two-way business down here as European desks add their thoughts to the debate
I have been in the camp that reckons that a Eurozone without the spectre of Greece hanging around its neck will be the stronger for it but there are too many unknowns right now to make a full judgement on the latest events
And we know that markets hate uncertainty so once again I'll say trade what you see. If you're a newbie and this is all a bit scary then keep out until the dust settles a little further. Even for the more experienced traders we have turbulent times ahead
Remember that not every move has to have an explanation, sensible or otherwise.. In my course presentation last week I talked a lot about flows (actually I talked a lot, full stop!) and flows are what's happening NOW. Not what's gone on before, or what the charts might suggest may happen moving forward
Yes there is a bigger picture we can all make an attempt to predict the outcome for, but in a market currently estimated to have a global turnover of $5.7trln each day it's what actually transpires that really counts
So you may think this is bargain-basement opportunity for the euro or feel this is only the start of a much bigger move lower, but either way we must give respect to the actual flows
As I have also said before on many an occasion, ours ( more times than not) is not to reason why,ours is just to sell and buy
Keep it simple, but above all else keep your discipline too. Consistency is key in these trading conditions
EURUSD getting sold again as I type with 1.0992 being posted after another attempt to get back above 1.1025 when I sat down
