TECHNICALS SUGGEST EUROSTOXX CORRECTION - Technically the close in euro stoxx on Friday was important. It posted the larger weekly decline since December 2014. The EUR bear trend is also in question with many macro traders falling victim to very choppy markets. Interestingly 1 week GBP vol closed last week at almost 2 vol lower than eur vol. it feels like selective USD gamma may be worth owning given the wild swings experienced on Fridays close. Greece, UK election and China are all proving that currency volatility is here to stay.