Don’t let anyone tell ya any different. There’s one main reason why risk appetite is a little healthier this morning than when we left it Friday; yes my posting of POSITIVE news at the weekend!!! It’s nothing too major I know, but heck I can’t do it all on my own…..
EUR/USD sits up at 1.3053 from a North American close Friday down around 1.3018.
Talk of buy orders clustered 1.3000/10, sell stops through both 1.2995 and 1.2990 (take your pick, what’s 5 pips between friends) Personally I’d go with the 1.2990 level.
Sell orders clustered 1.3060/75. Where the buy stops are gathering I know not where at present. There is much talk though of large 1.3050 vanilla option expiries today. If you believe in the magnetic properties of these large expiries, then I guess you’ll be all excited.
