Disliked{quote} Huh..hard question. Interesting how these ~ 1.1 levels are holding. -> Looks like big loading in going on in my opinion. As I wrote today, the signals are quite mixed, on the technical side we are at mid point. In a market maker view: The only thing that is not neutral is the (~60%)(~40%) Short:Long ratio. Breaking of the last two weeks low can occur more shorts overall (break out strategy, novice retail trading, etc) and not moving lower suggests that the shorts are all bought. But on the other side there are much better Risk:Reward ratios...Ignored
I highly doubt we will be able to go under 1.105 in fact...but if we do and go through 1.1, I don't think we will stop there...1.08x-1.07x area will become possible...
One more thing...today's US data are very ugly, tomorrow's CPI won't be impressive, so bears are running out of time to test the lows. Only Draghi's empty words can spark some firework to the downside...