EURUSD settles down after another big move (currently 1.2272)
- 1.2300 big figure and option barrier protection halts the run (1.2297 high) as the new week starts like the old week finished
- General USD and JPY selling helping to fuel the rally
- Momentum from Friday gathered pace early in the European session and the push to the high looked to have relieved some pressure for now as we traded back down to 1.2250 before finding support
- The upside technical picture is very sparse until some long-term levels in the 1.24/1.26 area;
- 200 MMA 1.2419
- 38.2 of the 2008 swing down at 1.2516
- 100 MMA at 1.2580
- 61.8 fib of the 2014 drop at 1.2597
- Option vols jump to 7.73% today. Had been below 6.00% last week
- Option interest seen for front-end expiries 1.25 calls
- Support showing intraday at 1.2250, with more at 1.2240, 1.2200, 1.2200 and 1.2180/85. Stops likely building under 1.2200
EURUSD monthly chart
Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
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