EUR/USD opened 100 pips lower after EU FinMins agreed to Cyprus imposing a tax on bank deposits. The crosses have been smashed with EUR/JPY gapping sharply lower as trailing stops below 124.00 were wiped out, it’s currently trading near 122.00.
I will be very cautious about buying EUR in this situation but I think the USD may rebound later in the week so I’m happy to try and buy USD/JPY or USD/CHF dips.