While we focus attention on Greek elections, an election that economically holds little value in Eurozone terms. Consider Greece contributes 0.6 in GDP to the overall Eurozone economy, exports to other Eurozone states amounts to near zero so Greece wished to remain the falling self contained state whose economic status saw its own money swirling around in a circle. So what's the loss if Greece exists the Eurozone. Well the question is how must the market value Greek assets…

http://youtu.be/A0uuTLCjF_g

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Note: Due to EXTREME event risk this weekend - allow for an extreme move in either direction. 

$EURUSD

What ProAct Forex Target Traders See:  We are currently sitting @ 1.2657 in a sideways move which may continue due to the EXTREME event risk this weekend.  We are bullish but extremely cautious.   We could continue the sideways move as they sort out the event.  A break of the R5 and we will look for the R6 target @ 1.2901.  Lower target this week is the bottom @ 1.2300.…

Global financial market is probably heading for another eventful week, as Monday will be day one after Greece election. Leaders from powerful G20 nations will be busy in a 2-day meeting to discuss global economy and some of the political events around the globe, but European crisis will surely dominate the discussion. Fed’s FOMC meeting this week is another important event.

Sunday’s Greece election was a kind of referendum that if Greece wants to stay in the…

As we all know the Greek election results could have a big effect on the Eurozone and also what might happen next with the Euro currency.

I have my own view which I don't mind sharing - which I will be attempting to trade - but not probably quite the same way I would do normally.

Lets look at the main facts first  - you might disagree but basically this is how I see it in a fairly simplistic way - 

1st - Fundamentals.

The theory is the countries currency…

We have delayed the weekly European weekly breakout signals until Monday, with new signals for early Tuesday morning, due to heavy expected volatilty during the Greece election and Oanda's non trading rule on Sunday..

http://www.forexstreet.net/profiles/blogs/oanda-no-trading-next-sunday?xg_source=activity…

   How many headline commentaries time and again reported this story: NZD outperforms the EURO 0.8 vs 0.7 or 0.6. How many times does a trader say why didn't I buy or sell NZD instead of the Euro to gain an extra 20 pips or so on the trade. The answer to these questions must come with understanding the difference between the two pairs in its orientation and its man made creation to align each pair towards its stated nation goal and purpose.

  Currency pairs may be aligned for…

EURUSD correction has been a nasty play for the traders for the last couple of weeks. The 4th wave correction is complex and the momentum is frustrating in nature. That's why corrective wave trades are always tricky.

I have gathered possible alternate scenarios; and all options are on the…

Currently the pair is @ 100.40 after breaking out of the ascending wedge.   A break down here, look for the retracement to the support @ 0.9960 then 0.9884.  Our upside target is the  .382 Fib @ 1.0136

 …

i feel GBPUSD HAS TRIANGLE PATTERN IN ONE HOUR CHART  

pair has strong resistance @1.5601 and support@1.5475 

if pair breaks triangle above 1.5560 then pair will consider as neutral trend tilll resistance @1.5601 and breaks further upside 

my main bais is downside if pair manage to break below 1.5475 then pair may test next targeting level @1.535   long term target 1.45…

Due to the extreme volatility some market analysts foresee could result in the

coming days, OANDA fxTrade will not accept any trading activity from 6:00 AM EDT

until approximately 3:00 PM EDT, on Sunday, June 17, 2012. OANDA believes the

convergence of a major market event during off-market hours represents a

potential trading risk and has taken this rare step to protect traders from

excessive rate fluctuations.



For this reason, OANDA strongly recommends…

New daily low and change of trend on smaller TF.

And a view of 1H TF with some trade options:

EUR/USD continued its gradual rise and is now battling strong resistance. There are reports about secret polls in Greece which point to a victory of the pro-bailout New Democracy party. This speculation could eventually turn into a short opportunity as results emerge early on Sunday. Yet again, US figures weren’t so good, but not enough for QE3. Also the ECB isn’t likely to move.…

By at least  0.5% in most polls according to CNBC TV, but reports also suggest that as much as 20 % remain undecided in some key cities.

Most see a New Democracy/PASOK coalition as the likely result, but with a very strong opposition in Syriza

I feel eurusd has regular bearish divergence and strong resistance @1.2680 and support@1.2550

below 1.2680 resistance,my main bias is downside towards 1.2350 and 1.22

and if eurusd pair breaks above 1.2680 then pair may test targeting level @1.30

above analysis…

I've changed my bias completely ... well not exactly :-) and a secret on how I trade these markets..

http://youtu.be/yuMdLO026a4

Our video newsletter is a Sunday through Thursday evening extended video newsletter. Looking at the Stock and currency markets and providing support and resistance levels

To…

Instead of writing my usual post about trade setups, I thought I'd write something different for two reasons;

1) I really didn't like anything going into the Friday before the Greek elections which could get really ugly

2) I wouldn't want to be holding any Spot positions going into tomorrow's London session since the markets now rumor driven

So what I decided was to talk about an alternative to playing a spot position going into this…

So everybody and his brother has prepared themselves for this weekend meaning there may be a lot of cash on hand waiting to jump on every headline or talking head that hits the wires. Central bankers political bosses, guys that want to be political bosses will be flapping their lips like they are trying to fly.

So watch yourselves, pay attention. Newer guys and gals, if it gets crazy, your not sure, just watch. Pick your spots limit risk asap. For god's sakes be safe out…