Low prints at MAJOR support; hard and fast break likely to encourage a round of short covering next day or two. Look to re-short later—OK to stay flat a bit as we just took a huge win from the short side. Continued trade under the 1.5700 area pressures buying signals; another low likely before a “dead cat bounce”.
Rate continues to track Cable and vice-versa. Stops above the 1.5820 area likely back out of range for today after the drop this week. Now that stops are cleared a rotation higher is coming.
EURO/USD Daily
