Well it seems only yesterday the words EURO and CRISIS were being used together to discuss the CYPRUS problem, well it’s the turn of Greece. I would imagine Greece will default tomorrow and this will cause a fall in the EURO. Unless Mr Draghi manages to pull something out of the hat.
The question is, will this cause a domino effect with other EU countries.
GBP is doing well with really good signs of recovery and the dollar following suit.
An interesting and volatile few days ahead I think.
My plan incidentally is to hold out and not enter EURUSD trades until after 9am this morning. If EUR GDP is negative then I’d like to get in on that move and take profit before DRAGHI & Interest rate decisions at 12:45 and 13:30 respectively.