Italian elections came out as the worst scenario possible, a probable 3-way tie that points for a hung in Parliament, and therefore a halt in the reforms required by ECB to get financial aid. The OTM are now pretty much useless, at least to help Italy. The EUR fell the blow, nose diving across the board: after being as high as 1.3318, the EUR/USD trades now near the daily low set at 1.3046 with the hourly chart showing a strong bearish momentum as indicators head south in oversold levels. The 4 hours chart also presents a technical bearish tone, although the fall is now beyond technical readings: expect the pair to ... (full story)