…as Sean likes to say.
The market has run up and down with a 1.4460/1.4520 range several times in the last 24 hours and there are unlikely to be many fresh orders in the middle at this point. That makes it particularly dangerous to get involved in a trade in the middle of that range because we could easily gravitate to one range extreme with very little to get in the way…
EUR/USD trades now at 1.4480.
If you want to trade an edge…USD/JPY looks like a better play with a stop in the 83.35/40 area, below the 83.44 lows of Tuesday and the 83.46 200-day moving average…