For months, both the Euro and global capital markets have been following the Greek financial crisis for cues on positioning. However, on a day where the situation seems to find tangible relief, EURUSD and equities fail to follow up with meaningful relief rally. What should we take this to mean? Was this outcome priced in? Is there skepticism that all the necessary steps will be implimented? More important, what does this ultimately mean for Euro and risk trends? We break down this event and discuss what the implications are for trading going forward.