An important chart update for euro here, which does not require to create a decision, but shows how price rolls forwards undr the direction of price drivers. It advanced quite far and cramped the highs. Finally there is another opportunity for loading on the 1.212x pivot.
For the risk cocktail we have Conte resignation, covid varients, vaccine execution and delays to Biden stimulus all entering into play. These are unusual markets and volatility expansions (e.g. yesterday) are still showing that the USD remains the safest place to park capital when the storm hits.
I am still of the view that we will clear initial targets, but clearly there are risks entering into the picture and trading pragmatically is important with risk in the air. For those holding longs in this swing, it's time to sit on our hands with a lottery ticket, trail our stops and take of the exposure.
Thanks as usual for keeping the feedback coming on these short-term flows 👍 or 👎
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Heads up ... ECB on the wires trying to talk down the euro with an empty threat of cuts to counter appreciation.