Euro Recap
Quite a bit of discussion on various blogs on the problems facing the Euro and what it portends economically and politically.None of this is really unexpected....pls see the Nov 30th post, Dubai Not Unique
Dec. 15 post, Dollar Rules
and Weak Euro and More To Come from Dec 21st.
So most potential wave counts put the Euro this Sunday morning in the a very minor consolidation , most likely within a -3- of 3 down (though it could be subdividing again).
Below is one possible count with a running -2- wave correction. Notice the c=a, and the b wave overlaps and chop.
The next significant support is the .618 retrace of the entire B wave move up and that comes in around 1.34. However if we're right in the middle of a Euro collapse after falling roughly .15 that will get sliced through in short order.
click to sharpen.
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Greek Ouzo crisis escalates into global margin call as confidence ebbs By Ambrose Evans-Pritchard
Excellent recap by the ever entertaining Ambrose Evans-Pritchard .
Dec. 15 post, Dollar Rules
and Weak Euro and More To Come from Dec 21st.
So most potential wave counts put the Euro this Sunday morning in the a very minor consolidation , most likely within a -3- of 3 down (though it could be subdividing again).
Below is one possible count with a running -2- wave correction. Notice the c=a, and the b wave overlaps and chop.
The next significant support is the .618 retrace of the entire B wave move up and that comes in around 1.34. However if we're right in the middle of a Euro collapse after falling roughly .15 that will get sliced through in short order.
click to sharpen.
l">
Greek Ouzo crisis escalates into global margin call as confidence ebbs By Ambrose Evans-Pritchard
Published: 5:46PM GMT 07 Feb 2010Comments 24 | Comment on this article
Barclays Capital says the net external liabilities of Greece are 87pc of GDP, or €208bn (£182bn). Spain is worse at 91pc (€950bn), and Portugal worse yet at 108pc (€177bn); Ireland is 68pc (€123bn), Italy is 23pc, (€347bn). Add East Europe's bubble and foreign debts top €2 trillion.....Excellent recap by the ever entertaining Ambrose Evans-Pritchard .
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