EXNESS - Analytics


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    Greece has defaulted

    Sell on a level breakthrough of 1.1113 with 1.0951 target. Stop loss = 1.1200.

    Reason for the trading strategy

    Early in the morning, the concerns about the creditworthiness of Greek government were confirmed. Greece did not pay 1.23 billion SDR (1.6 billion euros) to the IMF, which, however, received a request for a deferment of payment until November 2015. Considering the special status of the IMF as the lender, rating agencies would not call this credit event a technical default, but rather a "deferred payment". If Greeks support A.Tsipras' government on July 5, the euro's decline will accelerate.

    EURUSD, H4


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