Support breaks
Fixing sales pushed the euro through the critical 1.1027 level. All eyes on 1.10 now. (update: it broke)
Zooming out, the euro bulls don't have much to hang their hats on beyond 1.1000. There is a bit of support at the March 2017 highs near 1.0900 but this could be a swan dive.
I think the ECB comments yesterday and today were a dead giveaway. They tried something hawkish but the market spit it right back in their faces. The message there is either that: 1) the market wants to sell euros badly enough to plow right through it, or 2) that the market believes it and it assures a recession.
I'd argue for option 1 because I think Knot was bluffing but I don't see a need to dig into it beyond the technicals.
Update: The euro has sunk through 1.1000 for the first time since May 2017. That doesn't change the chart but it took out support. It's all about the close now.
