EUR/USD has a ways to go to break the 1.4825/30 level, the intervening low between the double tops in EUR/USD around 1.5150. The combination of a break of the Eur/USD’s medium-term uptrend and a break below 1.4825 would be a powerful signal that the EUR has topped and is due for a significant year-end retracement.

1.4850 and 1.4800 have been rumored exotic option strikes, so we may see some defensive buying on dips. We trade now at 1.4890.

12-4-eur