EUR/USD back to 1.2267, about 20 pips from the high. Cable has faded after running stops above 1.5721. Gold falling hard, down to $1579.
The chart to watch may be the S&P 500. After taking out a key level and touching a six-week high, stocks are nearly flat. A close below 1374 could point to further losses. I’m not fully convinced by the slump because it’s coming at a strange time (just before 2 p.m. ET).
The orderboard isn’t a factor at this point with most pairs in the middle of the daily range.
