Its 1218 GMT and as I suspected the market has been taken higher to remove those short with tight stops. Experienced shorts feeding on the liquidity of many small stop losses.
As I write the market is sitting at 1.3665. The daily pivot is at 1.3707 and it can certainly get there.
I will trade it short here at 1.3665 with a stop at 1.3745. Again size your position so as no more that 1/2 % is at risk. This is a h4 trade and I wont look at it again until 4pm GMT.
The target is 1.3420
Good Luck
I am off to the gym
David
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