Hi, this is Charles
I am not trading today.
The markets opened up with large gaps due to the critical EURO financial situation. A possible bailout for Cyprus has been agreed to, which would include taking 10% from all Cyprus' saving accounts. Since the banks are closed in Cyprus today, a huge run on the banks are expected for tomorrow.
Needless to say, we expect some very high volatility on the Euro Dollar this upcoming week, with possible sympathy moves from related currency pairs as well.
Further, the ADR on all 3 pairs have already been exceeded for today-before the US market has opened.
Needless to say, I do NOT want to be involved in this mess.
Happily headed back to sleep,
CII
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