It is unclear if barrier options are in play at the 1.3000 level but prices have so far been unable to overcome that level. 1.2995 has been tp top so far. A break of 1.3000 puts the focus on the 1.3080 area.
Earlier today the market was focused on yesterday’s failure to break out of the weeks-long consolidation we’ve experienced and sold EUR/USD on analysis calling for a 1.15. Just hours later we’ve finally broken to the topside, at least on an intraday basis.
Helping support the EUR near-term were comments from fund manager John Taylor who forecast a top for the dollar and a much deeper decline ahead for US equities. He sees a move to 500 on the S&P from 900 today.
