- You go short NZD/USD; cable falls 600 pips, EUR/USD falls 300 and the Kiwi goes up 100.
That’s a talent in itself, picking such an excellent cross trade. Enough self-pity.
I heard yesterday of some decent sized stops below 1.4080 in the EUR/USD so that will be the first level to watch this morning. Below 1.4000 and I heard the words ‘possible capitulation’ used. Cable has demolished all orders within reach and the heavy EUR/GBP buying of recent weeks looks like it has been strong enough to halt the cable rally. USD/JPY has consolidated it’s post-NFP gains which is a moderately bullish sign.
Good luck today.
