Greeks vote no; here are some pre-market quotes

The markets have been awfully chaotic at the moment and so I have kept my trading to very short term price movements. Just a quick update on the news, 60% of those voted said no the the bail-out package and supported the government rejecting the austerity measure demands. Here are some of the sharpest changes in the pre-market inter-bank quotes.

The EURUSD pair closed off at 1.1092 bid. Just an hour before the market open, here is the pre-market:

EURUSD Pre-Market
EURUSD Pre-Market

The EURJPY pair experienced sharp drop as well closing off at 136.37 bid and it’s current pre-market:

EURJPY Pre-Market
EURJPY Pre-Market

However, keep in mind of last week’s market open. Although EURUSD faced an approximately 200~ pips drop, it quickly regained it’s losses. We may experience a similar move from a series of short covers.

EURUSD 10-Minute
EURUSD 10-Minute

I would, however, continue to avoid trading Euro pairs at the moment given the unwanted volatility we’ve been experiencing the past week.

EURUSD 10-Minute
EURUSD 10-Minute

The European Central Bank is expected to maintain its current restricted levels of Emergency Liquidity Agency for Greek banks while the council resume talks on Monday.


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