OANDA FX

[HughJeffin Byrd]

OANDA FX -Trading will be halted June 17 due to expected Global "Major Market Event" this weekend..

Posted By: Watchman

Date: Wednesday, 13-Jun-2012 23:07:55

From Oanda

Due to the extreme volatility some market analysts foresee could result in the coming days, OANDA fxTrade will not accept any trading activity from 6:00 AM EST until approximately 3:00 PM EST, on Sunday, June 17, 2012. OANDA believes the convergence of a major market event during off-market hours represents a potential trading risk and has taken this rare step to protect traders from excessive rate fluctuations.

Please note that during this halt in trading, you can still access your account details but no trading activity will be accepted. For this reason, OANDA strongly recommends that all traders consider minimizing currency exposures prior to the trading halt.

If you do intend to maintain open positions during this period, be aware that OANDA will hold exchange rates steady during the trading halt. However, when trading resumes, rates will immediately adjust to the current market rate and it is possible that the updated rate could result in a margin closeout if the price has moved significantly against your positions.

Therefore, it is your responsibility to ensure you have adequate funds in your account to prevent a margin closeout.

OANDA apologizes for any inconvenience this may cause.

For more information, please contact a Customer Service representative.

Best regards,

The OANDA team

link: http://www.zerohedge.com/news/due-extreme-volatility-some-market-analysts-foresee

[SureThingPal]

RV?

[HughJeffin Byrd]

RV?

I wish... maybe the Drachma? Greek Elections on Sunday and banks have been preparing for a month....Idk.

[bamagirl]

Whoa.... looks like something major is gonna happen, crossing my fingers.... thanks Hugh!

[SureThingPal]

I wish... maybe the Drachma? Greek Elections on Sunday and banks have been preparing for a month....Idk.

Possibly. Let's hope it's my guess tho lol

[HughJeffin Byrd]

Possibly. Let's hope it's my guess tho lol

Ha no doubt... Drachma orrrrr RV....tough decision.

I just read this about 5 minutes before coming here! LOL

This is simply a heads up for investors with open positions over the weekend. The Greek election will have a MASSIVE impact on the markets. The Euro could open up significantly higher, or significantly lower! Nobody wants a Margin call on their account so this is a fair warning to all.

Try not to read into this too much Hugh. This past week, the Euro opened up over 100 pips higher then when it closed on Friday due to the "hopium" flying around about the Greek bank bailouts. But, the hopium soon died down and the gap closed, meaning the Euro fell back down to Friday's levels.

Here are the 3 scenarios on how this weekend will play out:

What’s important is who comes first, but a third scenario is also on the cards.

• SYRIZA wins: This scenario has high chances as the party is gaining momentum in the current gloomy environment. This will escalate the capital flight out of the country and could bring the country out of the euro-zone before Tsipras makes any decision as Prime Minister. It could also trigger action from world leaders convening in Mexico on June 18^th. The immediate reaction will likely be a big drop in the euro and a stronger dollar (and yen).
• New Democracy wins: This scenario is certainly on the cards. The reasoning is that many Greeks voted to smaller parties as a protest, and will now “come back home” to mainstream parties. In this scenario, the euro will leap in the morning after, but this doesn’t solve Greece’s problems. A third bailout and more restructuring will probably be necessary. A temporary relief will result in the focus shifting to other countries.
• Another Deadlock: This scenario has low chances, but if the parliament is fragmented once again with no party gaining even 20% (like in the first round), a third round of elections will be scheduled, but things will continue deteriorating. June 30^th is the deadline for passing 77 measures. This is a prerequisite for more aid, and it’s hard to see that happening by a caretaker government.

All in all, this is a major risk event that impacts the entire world.

http://www.forexcrunch.com/3-scenarios-for-the-greek-elections/

Thanks 20mil, I was hoping you would shed some light on this.

I feel like the perfect storm is brewing...it's so much more than Greece at this point with Spain in the mix and Italy in the crosshairs very soon.

Edited June 14, 2012 by HughJeffin Byrd

[thegente]

Thx for posting this HjB, I saw it on another site as well and was wondering...I did see a few articles a few weeks ago about Bloomberg "testing" the Drachma on their terminals as well. May be getting ready in case they get the boot or leave the EURO after the elections:

http://rt.com/business/news/greek-drachma-bloomberg-trades-769/

Are we there yet? 'Greek Drachma' on Bloomberg ticker

01 June, 2012, 17:04

Traders around the world have been staring at their Bloomberg screens, hardly believing their eyes. The electronic information platform has been showing details for possible Greek Drachma trading.

The Bloomberg helpdesk described it as "an internal function which is set up to test."

The news comes in the wake of the heated discussions over the future of the euro zone and the membership of Greece. While many experts insist that Greece should leave the Euro and default, some suggest it should remain the union and introduce a parallel currency to the Euro to repay the country’s debt.

The Head of the European Investment Bank Werner Hoyer said on Tuesday that Greece will be able to remain a member of the union. “Greece will have the opportunity to solve the huge problems that it is facing. Continuing support from the EU will contribute to this, in case, of course, the very Greeks would want that,” Hoyer said.

And a survey at the weekend showed that Greeks prefer to stick to the Euro and not revert to the old drachma.

The Greek Drachma details have now been taken down from the Bloomberg service.

MORE:

http://blog.alexanderhiggins.com/2012/06/01/greece-currency-secretly-printed-appears-bloomberg-ticker-139861/

While politicians publicly debate Greece existing the Euro behind the scenes comes a report of a secret order to print Drachmas as the currency pops up on Bloomberg’s ticker.

In public politicians refuse to entertain the notion that Greece may exit the Euro but behind the scenes another story is unfolding.

The World’s largest private printer of money De La Rue in the UK, who prints currency for 150 nation’s worldwide, is reported to have began secretly printing new Greek Drachmas according to a report from the well-respected German newspaper the Rheinische Post.

An intermediary paper company has told the Rheinische Post, speaking on the condition of anonymity, they are supplying the De La Rue with material to print the new Greek currency under a secret contract.

The Rheinische Post quotes the intermediary company as saying they have seen the new printed Greece currency with their own eyes.

At the same time the currency showed up on Bloomberg’s trading terminal’s today listed as Greek Drachma Post Euro using the symbol XGD.

Edited June 14, 2012 by thegente

[thegente]

I have a friend who uses the Bloomberg trading terminal. I am going to verify and see if this is true. Although it mentions the details have been taken down, if it were there, this gentleman would know for sure. I should have confirmation within 2 hours tops.

Thx 20 mil...It does makes sense the way things are headed...these continual bail-outs and kicking the can down the road are merely puting off the inevitible, and they really only bolster the markets for a short while. The whole fiat system is about to collapse....Euro is just about kaput, and will probably be the 1st to go.

Edited June 14, 2012 by thegente

[thegente]

You're right, however, this picture is so much bigger then I can grasp. So many different scenarios and things that can happen down the road. If Greek were to exit, I'm not sure if it would be good or bad for the Euro. Probably bad in the short term, but in the long term it might recover...

Who knows! That is why I am sitting on the side lines this weekend and will see how things play out...should be fun!

I agree, lotsa angles to be played out...I think things will be heating up very soon!

[HughJeffin Byrd]

I love listening to Farage and Hannan on the Euro crisis since they seem to be the only two over there to tell it how it is... Hannan used a great analogy today to describe what they are doing:

I have a friend who uses the Bloomberg trading terminal. I am going to verify and see if this is true. Although it mentions the details have been taken down, if it were there, this gentleman would know for sure. I should have confirmation within 2 hours tops.

20mil this is the proof that the article referenced... Idk much about Bloomberg trading terminal, let me know if this looks legit:

http://www.zerohedge.com/news/whats-wrong-picture-0

[thegente]

Thanks Hugh. Yea, I saw the link and the screen shot, but sometimes people have their own agenda, could have been photo shopped. **It more than likely is true, I just want some first hand verification from a friend that I talk with everyday. I'll know more in about an hour and a half. I'll see if I can get his insight on the WHY if possible as well.

In the mean time, tell me what you think of the following: Fundamental Analysis of Eurozone

The 1st article I posted also has a screen shot as well, and it's from Russian Television news, so I think it's probably legit....but thx for checking anyway 20 mil.

I pull lots of news from RT.COM, great source of news you'll never see here in US MSM....check 'em out!

[HughJeffin Byrd]

Thanks Hugh. Yea, I saw the link and the screen shot, but sometimes people have their own agenda, could have been photo shopped. **It more than likely is true, I just want some first hand verification from a friend that I talk with everyday. I'll know more in about an hour and a half. I'll see if I can get his insight on the WHY if possible as well.

In the mean time, tell me what you think of the following: Fundamental Analysis of Eurozone

LOL! Sorry I couldn't resist with that last link.

Bahahahahahaahahaha dammit... if I had a gf that would of definitely ruined the mood.

[jeepguy]

uhhhhhhh !!!!!! they are not trading because { it`s father`s day weekend } noone wants too work this weekend golfing ,, anyone ???

[Luigi1]

If anything markets will begin to crash starting in the EU stock exchange.

As far as banks & Forex shutdowns in prep of the global re-set...this has been called by the Gurus many times over.

Go to the beach, BBQ in the hills, go to a MLB game, spend time with family & just relax. It'll happen when it happens & not a sec too soon.

[thegente]

FROM ANOTHER FOREX TRADER:

Dear Valued Client,

This coming Sunday, June 17, 2012, will be the Greek legislative elections. This is important regarding the future of Greece as part of the Eurozone. While FXDD does not give specific trading advice, we believe these elections may result in periods of extreme volatility.

We urge you to take every step possible to protect yourself from

potential price spikes or market gaps, including but not limited to:

•Adding funds to your account to avoid liquidation.

•Curtailing

unnecessary exposure, by closing some or all existing positions prior

to the market close at 4 pm EST on Friday June 15th.

•Placing stop orders. Please be aware that stop orders may slip if the market gaps or if there is extreme volatility.

The events unfolding in the Eurozone in the following weeks

will be pivotal for the future of the common currency and the nations

involved. Stay current with news announcements so you are aware of

potentially volatile market conditions.

Forexlive.com

is a great news source trusted by individual traders, hedge funds, and

central bankers. Please refer to this, or an alternative source of

information.

If you ever have difficulties in executing a trade we would advise you, as always, to contact us immediately.

If you have any questions, our customer service will be happy to talk to you.

Sincerely,

FXDD

7 World Trade Center, 32nd Floor, New York, NY 10007

Phone: 212.791.3933 Fax: 212.937.3845

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