If Greece defaults in the Summer of 2015 and China crashes then I expect the following scenario to play out. A deep retracement down to the 1820 area until early 2016.
In order to confirm my bearish idea the price has to fall and stay below 2095, especially below 1958. If Greece does not default then I expect another long rally until the year 2017, because in that case the current bearish RSI divergence will have acted as a sideways consolidation.
P.S. Headline idea:
www.fxstreet.com/ana...mmentary/2015/05/29/
P.P.S Current news:
"This Sunday the Greek government is in talks with the troika, the Eurogroup, the ECB and the IMF , over the necessary bailout deal Greece needs if it is to avoid default. The word coming out of those talks over here in Europe is that no deal is in the offing. Given that the next major cash crunch for the country is on Friday, when a repayment to the IMF becomes due, no one’s really quite sure whether there will be a deal or not."
www.forbes.com/sites...the-same-old-things/
UPDATE: Thursday, July 9
In order to confirm my bearish idea the price has to fall and stay below 2095, especially below 1958. If Greece does not default then I expect another long rally until the year 2017, because in that case the current bearish RSI divergence will have acted as a sideways consolidation.
P.S. Headline idea:
www.fxstreet.com/ana...mmentary/2015/05/29/
P.P.S Current news:
"This Sunday the Greek government is in talks with the troika, the Eurogroup, the ECB and the IMF , over the necessary bailout deal Greece needs if it is to avoid default. The word coming out of those talks over here in Europe is that no deal is in the offing. Given that the next major cash crunch for the country is on Friday, when a repayment to the IMF becomes due, no one’s really quite sure whether there will be a deal or not."
www.forbes.com/sites...the-same-old-things/
UPDATE: Thursday, July 9
