A big week next week and some traders don't want to be holding hot potatoes over the weekend
Adam's earlier listed some of the potential risk events that might cause traders to get out of trades and that's probably what we're looking at here right now.
The election is the main game in town now and this weekend is potentially a big one from dropping headlines that will roil markets next week. Trading risk is something we should all look at and if the risk meter is high then it makes sense to cut back.
The dollar looks like the main hot potato right now and USDCHF has flopped down to 0.9681 from its 0.9758 high earlier. EURCHF is matching the move too.
The yen isn't looking overly fussed but the USD is also weaker around the other pairs. EURUSD is up at the highs once more and that resistance around 1.1125/30. The high is a shade under the 55 & 100 dma's at 1.1134/36.
EURUSD daily chart
The last little run to the high in GBPUSD may have been fix related, on the back of moves there and elsewhere, as we're seeing a minor pullback there and in EURGBP and USDJPY. Given the run, the pound will be most at risk from some weekend profit taking as Europe heads out the door.
