Scalping in the direction of the trend
It seems that investors are securing their money before the eurozone summit in the afternoon .
Chief Analyst Valeria Bednarik says that the Greek drama has reached new levels of bizarre, “as Tsipras writes a new proposal based on latest Junker one.” Greece is in default and running out of cash despite capital controls.
The markets will remain trading on risk sentiment, favoring for the most the Japanese Yen. The USD/JPY upside remains limited as long as the price holds below the 123.30.
According to Bednarik, gold has long lost its safe haven condition, don’t expect much action there these days. Stocks approaching critical long term supports, panic selling just around the corner.