EUR/USD is inflicting some pain on complacent longs who may have played the QE card one time too many.
Trailing stops below the 1.4000 level have been triggered and many a long is hoping for a rebound to let them out ahead of the weekend.
1.3955 is now critical support on further pullbacks; more stops are eyed below. A break of that level would create the dreaded bearish outside day reversal. Expect some options-related buying along the way from the likes of China as they buy back EUR/USD sold to defend 1.4150 barriers (at a healthy profit..)
