Word on the street this morning is that Germany's finally agreed with France to come to the Greek rescue package table, although no exact details reported yet. Fresh orders caused a 60pip spike just past 9am Melbourne time (you gotta wonder about the "interesting" timing of this news release in low-liquidity conditions in Asia...) and presently holding at 4257 (high 4274, low 4210 so far). Sentiment is has been turning bullish over the past 1.5 days, and we now await the EU conference in 6 or 8 hrs time.
My computer and its new SSD/RAM is still causing me grief with random crashes, and so restricting my ability to remote desktop. Need to get it sorted out this weekend.
And so to another day of trading...
UPDATE 1
EURUSD down on Trichet comment re: being open to Greek default. Very sharp selloff by a very nervous market. I got caught out big time here, absolutely packing my pants and ready for a $2,500 loss. Right at the very bottom, news came out about ECB talking options for "selective default" for Greece, which unexpectedly did not drop the EU like I expected. Right away I know there was potential for a reversal but with price action being at its daily low you can never take it for granted...
News then leaked out of the ECB meeting creating the rush up, where I exited.
After falling back to the Open, its driven up again to 1.4300!! (off chart). Although I can say I was lucky today, the European session driven down was clearly a stop-hunt designed to shake out the market to prepare for this latest NY move up. This is because the market was already overly long to begin with, from the build up over the last 3 days.
Thurs +$2230
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