We have our best chance in a long while of closing below the 1.3500 level as we trade just below with a bit over an hour to go before NY markets begin to close up. Some medium-term guys have stops set on a close below 1.3500 so we could see a bit of selling in early Asia tonight, if we pull it off.
The further decline in EUR/CHF this afternoon has traders taking comfort in EUR/USD shorts. Worse case scenario, you have a much better agrgument being short than the guys in EUR/CHF as EUR/USD is miles above ITS all-time low…
There will be a signficant gap in coverage this afternoon while I do a seminar on-line. I hope to be back with a wrapup a bit after 4 pm. Tawk amongst yourselves.
