A good kind of nauseous since stocks have turned positive late, but nauseous nonetheless. EUR/USD has made a new session high late in the day, USD/JPY is 95 pips off the lows made an hour ago. EUR/JPY is about 15o points off its lows. Whiplash collars are available at a discount since we’re buying in bulk.
EUR/USD is trying to put in a bottom in the near-term. A move through 1.2950 would brighten the picture, but 1.3050 is the real level to be overcome to change the medium-term outlook.
