Yet again the market steps back and awaits a leaders summit. Whether it’s a G20, G7 or a Eurozone leaders summit like Thursday/Friday, the outcome should be the same- hype followed by no action. This one might get a bigger hype because the game is getting more serious. But the chances of concrete resolutions- very small.
In the meantime we trade. Yesterday saw a test of 1300/1304 levels. This has held well before and should do again. 1.2460/80 on the Euro has the same qualities. Buy at those levels today with small stops. Nothing dramatic untill Friday.