Weak stops taken out overnight in EUR/USD and EUR/GBP
No major developments overnight and most of the main currency pairs are close to yesterday’s levels. The retail market in particular was sitting a bit short of EUR and tight trailing stops were triggered in EUR/USD above 1.3535 and in EUR/GBP above .8325. I have no strong view on EUR/USD but I’m happy to sell any 50 pip rallies in the cross.
The focus will be back on AUD, NZD and JPY during Asian trade. Let’s see if we can’t find at least 1 reasonable trade opportunity!