Good morning traders!
Whilst we are still waiting for the major problem to happen, the tensions between Germany and Greece have intensified once again and Grexit fears are moving up another level now. It seems that every due payment to the lenders is littered with uncertainty and the next major one to watch is the 12th May when it needs to find a chunk of cash to pay IMF. More and more hurdles come after this and a solution is not quite ready to be released and the longer it takes, the more likely it looks like things will go badly.
Volatility is expected in the short term and that can make for some interesting opportunities.
Another interesting macro factor I read recently is/are bond yields. Despite Draghi saying it was premature to have a discussion of bond scarcity, ECB have mentioned the possibility of corporate bonds. It makes the suggestion that the yield curve is dangerously pointing towards the -20bp deposit rate under which the ECB has stated it will not buy bonds.
Long: USDCAD, NASDAQ, EUROSTOX
Short: EURJPY, EURUSD
Dax long (102 points), US30 (100 points) and JPN225 (335 points)
Dax Support & Resistance
|34 Hour EMA||11936|
|200 Day EMA||10505|