The sell orders reported yesterday ahead of 104.00 did their job and there’s talk of heavy stops below 102.50 still.
The EUR bears could generate some serious momentum if stop-loss sell orders get triggered below 1.2900 in EUR/USD, 102.50 in EUR/JPY and .8000 in EUR/GBP! On the other hand, if those levels hold, then we could see some serious short-covering.
