Good News?

Today the Greek parliament voted to accept the economic reforms that Tsipras’ government rejected recently and which the Greek people rejected even more recently. Now the ball is back in the Eurozone’s court. Should they accept Greece’s plans, which they are likely to do, the two sides will finally reach an agreement and Greece will not exit the Eurozone and abandon the Euro.

The silver lining is that this news will probably have a positive effect on the market. Unless something dramatic happens tomorrow, I suspect that that we will see a large upside gap on the EUR/USD chart when the market opens on Monday and that the pair will likely continue to climb afterwards.