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SYRIZA sweeps into power in Greece – EUR/USD falls below

Anti austerity SYRIZA won a clear victory over incumbent New Democracy in Greece: PM Samaras conceded defeat. While the counting still continues and it is unclear if Tsipras will have an absolute majority, it is clear that Greeks voted for a change that is set to challenge the European elite, namely German chancellor Angela Merkel.

EUR/USD, which has already suffered heavy losses following the ECB’s massive QE decision, opens the trading week over 50 pips lower, below 1.1150.

Will the pair fall below the 11 year low of 1.1113?

Will the outflow from Greek banks continue?


Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.