EUR/USD rebounds from brief visit below 1.09

Earlier today an update here noted the possibility of stops being in place below the 1.0900 handle. Well, that was some hours ago and for a long while the Euro resisted any drop below that level. However, not long ago, leading into the 4pm London FX fix, the Euro did slip below 1.0900 in a move that looked almost entirely driven by stops. The reason that can be said with a degree of confidence is all about the price action before and after you move. It is hoped the reader realises the impact that stops often have and how on many occasions the move peters out after those stops have been removed and then the price reverses. Well, that is pretty much what we saw here  a short while ago. The Euro did just enough to get those stops out, when it fell to 1.0889.  As to wether it rebounds further though remains to be seen. It is currently trading at 1.0905