There is talk of an option barrier at .8500 still and of course much speculation of heavy stop-losses above that level. Every push lower that we have seen in recent weeks has failed after 200 pips which indicates one of two things; a market which is short and happy to cover on any dip, or a market which is getting itself long at the wrong level, buying dips when we are close to the top. I am sticking with the latter view, until proven wrong.
Sam will take over for the next few hours and guide you through the twilight zone minefield.
