Cyprus push market to surplus volatility on opening day of the week and initially markets plunged but as US open markets digested Cyprus news recovered all the losses though Cyprus news is very disappointing as common man who are depostiing their savings in bank Up until now, most people assumed that private bank accounts were untouchable and that deposit insurance actually meant something. Now we see that there is no pile of money that is considered “off limits” by the global elite and deposit insurance means absolutely nothing. The number one thing that any financial system depends on is faith. If people do not have faith in the safety and stability of a financial system, it will not work. Well, the people that rule the world have just taken a sledgehammer to the trust that we all had in the global financial system. They have broken the unwritten social contract that global banking depends on. So now we will see a run on the banks, and this will not just be limited to a few countries in southern Europe. Rather, this will be worldwide in scope. However,volatility in market easily hit our Chf/Jpy stop but Gold merely missed target al though we are optimistic about Gold and so do Aud/Usd trade.
Following are trade calls for today,
Following are trade calls for today,
- Buy Eur/Aud at 1.2410 stop below 1.2350 target 1.2530
- Sell S & P at 1555 stop above 1565 target 1535
- Sell German 30 (Dax ) at 8015/ stop above 8080 target 7920
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