It’s been an impressive rally for EURUSD this morning 19 May
Now posting 6-month highs of 1.1175 from 1.1112 when Europe got underway.
A combination of EURJPY demand ( yen selling), EURGBP dip demand ( GBPUSD capping ) and strong option expiry interest today down at 1.1100 are just three good reasons why the pair has remained underpinned this morning. Throw in some EURCHF demand too for good measure.
Great call by Mr Littlestone on this pair from lower levels and having the patience to see it out.
USDJPY was holding its own as yen selling prevailed but ran into sell interest between 111.50-60 which I warned about from the off. Currently 111.36.
USDCHF back down near session lows at 0.9763 from 0.9800 and EURCHF rising to 1.0920 from 1.0880. SNB can’t be ruled out with a line in the sand at 0.9750 but maybe the lack of USDCHF holding up tells us the truth about risk and how fragile all this still is.
I’m out of here now. Have a great week-end everyone and thanks as always for your support. I hope I’ve helped make/save you a few pips along the way.