Thank you EU Commission

After the reuters story about a greek aid package I shorted the spike expecting a reversal for the rumor ...

DJ New Greek Plan Would Include Increased External Funding -Reuters
DJ EU Agrees In Principle On New Greek Plan -Reuters
DJ New Greek Plan Would Run 3 Years -Reuters

What I did not expect was for it to be so quick, and the reason why? EU Commission denies the whole thing

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Ended up as one of my definite better trades lately, so a great thanks to the commission.

Bearish on EURUSD

While having an underweight view on equities other asset classes are worth a look. In addition to credits, one of the more interesting to follow, in my opinion, is foreign exchange speculation.

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EURUSD is currently trading below the option barrier around 1.45 after having enjoyed a revival over the past two weeks (circled), as the sentiment towards the Greek situation has improved. In my opinion, however, the peripheral EUR situation is still so vulnerable (Portugal avaiting a general election shortly isn't exactly helping) that I expect a reversal of the past few week's gain, down towards the 1.40 - 1.41 area (38.20 fibb level at 1.4144 and 100 dma at 1.4061).