Both Ryan and I posted on this pair again yesterday and we’ve seen the anticipated attack on 1.2400
High post of 1.2395 had the pair back down at 1.2364 and on the retreat, relatively speaking, for the first time in a while,
There’s no doubt this 1.2350-1.2400 area becomes crucial now given the one-way move thus far in 2014 and the jury remains out still as to what we see first, 1.2250 or 1.2450
Sellers still at 1.2400 through to 1.2450 and first main bids back in at the pivotal 1.2350 then more down to core demand at 1.2280.
I’m still on the sidelines for the moment but something tells me it’s heading down again before we see 1.2450 so I’ll be looking to put on a short higher up or on a break back below 1.2340 with a tight stop. What say you? Anyone else out there think that this rally is running out of steam?
EURCHF orders 8 January
