What Greek austerity means for trading binary options on Euros and Dollars

binary options editorial cartoon of athens in the time of their Euro troubles

Care for some Souvlaki with your Swift kick?

You may have noticed that the news over Sunday night and into the work week has been all about Greece and the violent riots and demonstrations they have seen across Athens in angry reaction to the midnight vote by parliament to pass the most recent austerity measures proposed by Greece’s government as well as its public and private creditors.

The public creditors include the European Union and other Euro zone members of the EU including Germany and France as the heavyweights in the room.

What you may not have noticed slipping under the news radar, is that the problems in Greece are actually good news for traders of currency. While the Greek government attempts to save its economy, the Euro is down, and despite minor bumps indicating overall stability, it is fair to say that the EUR is at a much lower value than a year or two ago, and will probably stay that way for some time to come.

binary options editorial cartoon - the money tree

What’s your tree made of?

Of course, this is an opportunity for anyone who knows how to read currency exchange charts. Now is the time to be trading Euros with Dollars, Yen, Pounds and Swissies, because the Euro position is much easier to forecast than at other times. For years analysts had been arguing that the Euro was highly overvalued, in part due to the bubble economies of certain EEC members, notably Greece, Ireland, Italy, Portugal and Spain.

Now that some dust has settled and reality has taken a bite out of the fantasy finances of the PIIGS, those whose job relies on more accurate fiscal fortune forecasting can take a deep sigh of relief and work with more manageable numbers when it comes to trading euros as binary options assets.

The bottom line is, if you’re not trading Euros already, you should start doing so ASAP. Make the right choices when you start trading binary options¬†and your asset portfolio will thank you.

2 thoughts on “What Greek austerity means for trading binary options on Euros and Dollars

  1. Pingback: Greece and Euro trading binary options | Binary Options Madness

  2. Pingback: It’s not easy being Greek « The Binary Options Trader

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