Greek incompetence helps undermine EURUSD rally
It's hard to be a euro trader right now. One minute there's positivity from the weekend on hopes for a deal and the next the sellers come wading in to say "not so fast"
Trading expectations for a deal is becoming quite dangerous as we get headlines, then counter headlines and then down right incompetence. There's been no direct headline that's sunk the euro from 1.1400 to 1.1312 but stories like the wrong documents being sent reminds the market that there's a way to go yet, and underlines that traders don't want to leave too much skin in the game, particularly when they are in a profitable position
EURUSD 15m Chart
All the good work done in Asia has unravelled in half the time and we've been back down near Friday's lows after stops were hit through 1.1340. There's further stops now noted on a break of 1.1290
