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The very next question you might want to ask in reference to the EUR/USD

When playing this game of chasing two sets of numbers across a screen, one always has to ask oneself; where are there likely to be stops in place. That is a theme that is consistent, no matter what instrument you are trading. That is because stops are a permanent facet of price action and that will never ever change. So, since my last update, the EUR/USD has edged lower and it is tracking back below 1.10 and closer to the breakout level seen yesterday, at 1.0965. Perhaps very short term players on that upside break from the long side yesterday, who have not banked profits, might be tempted to leave stops and maybe even stop reversals, if the price falls back underneath that level. That is not to say there are stops there right now, but more so to beg the question on such a possibility. It will be interesting to see if that levels caps the current downswing and if not, how far the price might extend below it, for the reasons just mentioned. The EUR/USD is currently trading at 1.0985
 

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