Not a lot of follow-through just yet, but EUR/USD has managed to dip low enough to trigger the first group of stops at 1.2780/85. Often, stop-loss orders are pre-filled with banks front-running client orders, forcing the market to the stoploss level, absorbing those orders (ie buying at the lows) before rebounding. It’s the oldest trick in the book and frustrates traders both large and small who are shaken out of positions in the process.