Home > news > Time to say goodbye (Euro)

Time to say goodbye (Euro)

Article: CNBC

Excitement over the euro zone’s mammoth $1 trillion rescue package gave way on Tuesday to doubts whether its weakest economies can meet their end of the bargain and deliver drastic debt cuts, driving the euro and stocks lower.

The emergency plan — the biggest since G20 leaders threw money at the global economy following the collapse of Lehman Brothers in 2008 — impressed markets with its sheer size and sparked a spectacular rally in world stocks and the euro.Yet financial markets turned cautious when they reopened for business in Asia on Tuesday, with investors concerned that the plan was not a long-term solution to problems plaguing the 11-year old single currency area.

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With Asia market holding their peddle off the gas, it signal the doubt and disbelieve that problem will be solved this easily. Maybe its time to stop throwing money to solve a problem and yet create another bubble.

Yesterday up by 40+, today down by 20+. Seems like we’re going to be in a roller coaster ride. Day-trader will be so rather happy.

I’m seeing a lot of chart having a very strong counter-trend ride for past 3 days BUT the problem is downward trendline is still not broken! Is it time to wait for bearish candlestick at trendline and start …… hmmmm

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