Greece No vote a Win for the Euro? Look at the EUR/JPY Gap.(1 min read)

Directly after the Greece No “Oxi” vote as wanted the Euro pairs gapped down on opening. Lot of news came out afterwards with reasoning of different political leaders and financial advisors of the governments.  After some unclarity in the trading market, the EUR seems to be favored on the outcome. Probably to Close the Gap as it did last week also.

Looking at two pairs to trade this news, EUR/JPY and EUR/USD, where the EUR/JPY is favored as it has the strongest correlation diversion.

The levels to watch are in the images and as noted here:

EUR/JPY
Support level: 133.8
Gap fill target: 136.0

EURJPY-Greece_Vote_No-20150705

EUR/USD
Support level: 109.5
Gap fill target: 1.1070 and perhaps 1.11 on a rally

EURUSD-Greece_Vote_No-20150705

 

Good trading!

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Select your currency
USDUnited States (US) dollar
EUR Euro
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