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EUR/USD does just enough to underline the importance of stop losses in the price action

Much of the coverage here earlier today was all about the EUR/USD and the potential for it to hunt out stops below the prior upside breakout level, at 1.0965. So, the upshot of this is that it looks entirely likely, that some stops have been removed below 1.0965 now. Perhaps that was not the case on the first drop to 1.0962, but more likely on the second one, after another bounce. The Euro dropped to a session low of 1.0960 on that occasion and since then it has rebounded once more. Of course that fall has been assisted by another drop in US yields this evening. Irrespective of that, all that was covered here earlier today was designed to help you the reader understand better the kind of price action that can so often dictate the interim and short term price direction. The EUR/USD is currently trading at 1.0980 
 

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