$1 trillion package to save Euro. Buy Euro on this madness
The European Union spearheaded a $1 trillion plan Monday to contain Europe’s spreading debt crisis and keep it from tearing the euro currency apart and derailing the global economic recovery. Central banks around the world joined the coordinated effort to prop up the euro and repel speculative attacks against Europe’s weakest countries. The European Central Bank buying public and private debt to shore up liquidity and lower borrowing costs. Many investors, rattled for weeks by the prospect Greece would default on its mountain of debt.
The euro climbed and break 1.30000 level. There is no signal to turning down at all until now. Just buy and you’ll make profit today. I already make profit from 4 position by buying EUR/USD today. But 1.3114 is a resistance to test for the bull to dominates the market. Let’s see what happen in the next hours.
This news have a positive impact to the stock market. All European markets jumped higher (up more than 3 percent). Meanwhile, Dow Futures already jumped more than 300 points (more than 3%) before market open.
Because of this volatily, the stock & Options spreads right now is very wide. It’s very interesting to see what will happen in this kind of situation. Just be careful to trade. Happy Trading all…