The market has managed to take out the 1.4300 option interest, the pairing hitting 1.4303. But followthrough has so far been lacking and we’re back at 1.4290.
As a mate of mine has just reminded me; if it’s a pressured move (i.e trying to take out 1.4300), then those that have gone long (EUR/USD) to get the level taken out will have a tendancy to quickly turn round and take profit, countering any effect of triggered stops.
Sad, but true. And there I was getting all excited. Well at least 1.4300 is no longer a barrier, thank heavens for small mercies.
And you’ll all be happy to hear, the next option interest of note looms large up at 1.4350.
