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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?