EUR/USD: Still too hard for me, no idea where it’s going
- Strong demand related to EUR/AUD flow but this is probably mostly done by now.
- EUR/JPY stop-loss selling has off-set the EUR/AUD buying to some degree.
- EUR/GBP looks to have a top in place just below .8600.
- Technical picture suggests that the short-term extremities for EUR/USD are at 1.28/1.33.
I cannot see any reason to trade EUR/USD at the moment especially given the big flows in AUD and JPY and the stronger technical indicators from the GBP.