Traders report options-related buying is a major part of the latest pop in EUR/USD, as it was earlier in the day. Sounds like the market is short gamma, forced to buy EUR/USD the higher it goes…It’s a great position in a sideways market, but a lousy one in a trending market…
1.3000 barriers may by protected ahead of the weekend, though it should be noted there was absolutely no protection of any barriers that may have been struck at 1.2900 earlier today, for what its worth.