Greek elections... What will the euro do?

There are a lot of really smart people on this forum
and I’m hoping one of you can break down what’s
likely to happen to the euro on Monday morning after
the election.

Will one party winning mean a short and another party
winning mean a long? Or will it go short no matter what?

Help this new guy get a grip on Greece!

Which party wins will definitely mean a huge difference. I’m assuming there will be a huge movement as soon as the markets open next week if either party wins. However, which way that movement will go will certainly depend on who wins it. If the winner is SYRIZA then it will most likely be extremely bearish, because it will mean a very likely exit from the Euro. If the new democracy wins (the people who got them into this mess in the first place) then it will likely be bullish, as this party will accept the stricter austerity.

(There’s also a small chance of another ‘no-win’ situation, where neither party gets over 20%, which is what happened the first time, and then they will have to have another round)

I think all the smart people on this forum will be watching, waiting and doing nothing until they see how it all plays out. :cool:

Last Monday was very stressful, hope next will be not so crazy.

This video was posted on [I][B]DailyFX[/B][/I] a couple of hours ago.

It’s John Kicklighter’s analysis of [B]event risk[/B] between Sunday and Wednesday of this coming week:

EURUSD and Risk Traders Hold Their Breath Ahead of the Greek Election | DailyFX

Greek polls will be open on Sunday from 7am to 10pm Athens time (EEST=GMT+3).

The first “semi-official” results are expected to be announced at 9:30pm Athens time, before the polls close.

A second announcement of poll results is expected at 11pm Athens time, one hour after the polls close.

[I]DailyFX[/I] predicts a [I]possible,[/I] early (pre-event) market reaction beginning at about 7pm Sunday, Athens time (1600 GMT). If this prediction is valid, then a large spike in prices, whipsaw volatility, or both, could commence 4 hours or so before most of the world’s retail forex brokers open for the week.

Here is that [I]possible[/I] early market reaction time (7pm Sunday, Athens time), converted to some other time zones:

• Wellington (NZST=GMT+12) — 4am Monday — this time zone includes all of New Zealand

• Sydney (AEST=GMT+10) — 2am Monday — includes all of southeastern Australia

• Tokyo (JST=GMT+9) — 1am Monday — includes all of Japan, and Korea

• Singapore (SGT=GMT+8) — midnight Monday — includes most of mainland east Asia

• Moscow (MSK=GMT+4) — 8pm Sunday — includes western Russia, the U.A.E., Mauritius and Seychelles

• Athens (EEST=GMT+3) — 7pm Sunday — includes eastern Europe, Israel, and east Africa

• Zurich (CEST=GMT+2) — 6pm Sunday — includes central Europe, and South Africa

• London (BST=GMT+1) —5pm Sunday — includes all of the U.K., Ireland and Portugal

• New York (EDT=GMT-4) — noon Sunday — includes the eastern U.S. and Canada

• Chicago (CDT=GMT-5) — 11am Sunday — includes the central U.S. and Canada, and most of Mexico

• Denver (MDT=GMT-6) — 10am Sunday — includes the mountain U.S. and Canada

• Los Angeles (PDT=GMT-7) — 9am Sunday — includes the pacific U.S. and Canada

Also might be interesting to read about last Monday gap reason and the upcoming event in Greece on the forex blog in the last two articles.
I was luck last Monday and earn 150 pip accidentally, bu I wouldn’t risk to enter again.

Out of interest from what you guys know have most traders simply not traded the euro since last weeks non-decision or just limited their trading, as it has been mad !

It is doesn’t matter, the gap was on every currency pair. USDCAD, AUDUSD.

New updates about news in Greece

Now my next query since we know how Greece voted, are we going to have to wait until Greece makes their next govenment for things to settle down a tad more ?

Now Greece faced problem from the German.

The markets accepted positively the results of the Greek elections, because the coalition ‎wants to maintain Greece as part of the Eurozone. Therefore, in the short term I think that ‎the stock markets will rise and so will the euro, towards 1.27-1.28. However, eventually the ‎EU leaders will have to face bigger problems of Spain and Italy and then the markets will ‎collapse. I am bearish on the weekly chart.‎