This Sunday, on 17 June 2012, the Greek voters will yet again go to the polls, trying to elect a new parliament that would be able to form a functional government. Essentially, it’s a vote between two options: Greece staying in the eurozone, or exiting. Whatever the outcome, please be aware that we may see big gaps when the Forex markets open on Sunday night, followed by high levels of volatility.
High volatility can create trading opportunities. This is not only expected to affect the euro but also other currencies around the world, therefore it can be beneficial to keep following the markets closely. Remember, the polls open in Greece on Sunday at 4:00 GMT (5:00 BST) and close at 16:00 GMT (17:00 BST), and speculation about the outcome will begin immediately after the initial results start coming in.
High volatility also increases risks, so it’s advisable to adjust your trading strategies to compensate for the market. Please also be aware that high volatility could trigger stop orders that you may have in place. If you don’t have any stops in place, we strongly suggest you apply them to limit your potential losses. High volatility may also result in significantly wider or tighter spreads. We advise you to check your open orders and positions and take necessary precautions.
Please also take a minute to read the risk management section of the Alpari (UK) website and take advantage of our wide range of research tools.
Alexander Chadwick
Alpari (UK) Representative