EUR/USD crashes as Greece rejects deal

EUR/USD collapsed in the morning on Monday, overshadowing developments that took place before the weekend on Friday, as Greece rejected the deal, called a referendum and imposed capital controls on banks. The pair's began trading just above 1.10 today, down 160 pips from Friday. From the perspective of the technical analysis, while the Euro remains below monthly PP at 1.1089, the outlook will remain strongly negative for the short-term. 

The share of long open positions at the SWFX market increased by one percentage point over the weekend, up from 44% to 45%. Meanwhile, pending orders to buy the Euro against the Dollar in 100-pip range from the spot surged 12% to 52%.