Even though the so-called "Grexit" can still be considered inevitable for Greece, Election winner party NEW DEMOCRACY is the one to lift the broader risk.
Technically, the rise of markets confirms the predictions for strengthening the euro to the 1.2800 - 1.3000 dollar area before the formation of the next medium-term lower peak will lead to further losses.
At present, the election results help to deliver the upward momentum and attention turns to tomorrow's meeting of G20 and spreads of Spanish and Italian bonds.
Also, support for risk appetite reports gave the UK Telegraph and the New York Times talking about the official EU plan to tackle the problems of the Eurozone. One of the biggest criticisms is the lack of strong leadership in the EU and will for the creation of an official plan.
At this point, it seems that the fall of the euro in recent weeks below the 1.2300 dollars can be an expectation for the worst scenario in Greece an the peripheral Euro zone countries.
Therefore, the subsequent rally is removing this risk cathode. It also means that the market does not support a stronger risk investment environment and when the factor of the Greek elections will disappear then the risk aversion will come back.