EUR/USD has now cleanly broken above previous resistance at 1.2665 but the ‘huge’ stops which were supposed to be sitting above 1.2700 have not materialised. EUR/GBP is approaching important resistance at .8400 and this may weigh on the EUR/USD, especially with the cable struggling to break above 1.5250. EUR/JPY has rallied 200 points since yesterday’s open and with risk aversion never far away and Europe still in a world of economic hurt, I won’t be chasing this one higher.
Good luck today and TGIF.
