Everything I touch today turns to poo. First, my bold prediction that ISM would disappoint. Second, my view that the news of the Fed meeting with major bank CEOs had been twisted into some sort of emergency meeting and that the EUR would bounce back once the market sorted it out….
EUR/USD is approaching 1.4740 support with more around 1.4730. A break targets a retest of the crucial 1.4685 level.
Traders note stop-loss sell orders in GBP/USD in the 1.6325 area. A break would put the very important 1.6285 level at risk. Asian names have been happy buyers around that level in recent sessions.