Mild profit taking in EUR crosses

Both EUR/JPY and EUR/GBP are a little lower today on modest profit taking. One interbank dealer reported that Friday nights price action in EUR/USD was exhaustive in nature but we will have to wait and see on that.

  1. Hi Mike, I think that’s what the interbank dealer is saying, that the post-NFP rally was the final hurrah and that we now should be selling on any approach. I don’t have a strong feel for EUR/USD but I do think that EUR/GBP is way overbought

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