Sunday, November 7, 2010

Are HFT's supports @1.36 EUR? Refer April 15th 2010

The Greek/PIIGS debt crisis or default crisis that was brewing in the markets prior to the 6th May 2010 'flash crash' (that from all reports occurred on panic High Frequency Trading sells via a possible sovereign default in Greece) a single date comes to mind;15th April 2010, when the EUR (Euro) had just stated to slide. The high for that day was 1.36 and it closed @1.35, the EUR was then punished for 36 days of selling when it reached the low of 1.18 on the 6th June 2010

The EUR hedge fund sells started on the date of the 15th April 2010 (EUR @1.36), exacerbated by the 6/05/2010 flash crash

Are we seeing a repeat of history here, that may set off some flash selling and or flash crash. Maybe?

We will wait and see if the EUR hits 1.36 (chart below current price @1.39)

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