I’m as bearish as it gets on EUR but we’re down 350 pips already on the week and, to me, that’s more than the news can justify.
Looking at the chart, the big battleground at the moment is 1.30 but I think it’s far to juicy not to knock out. When that goes, the 2011 low of 1.2873 is the next target but I don’t think we’re going to get anywhere close.
The short will be looking for a spike lower if 1.30 goes and then they are going to cover and we will head back to 1.3144. Follow the crowd.
