Its amazing how much range this pair has. Just the correction (runup) starting midnight is 300 pips already. Is anybody trading this pair? I'm short biased but will only enter if some short momentum starts developing.
i agree... i think it's going to want to build a base first between 222.00 and 224.00 (on a daily chart) first before it has any potential to the upside. technically, nothing has changed for the carry...the interest differential is the same right now so until this changes the carry is still in favor of holding long.
I'm currently short, 30 pip down. But i'm not so sure this is a wise position as the current trend is still up. But this could be the place for a retracement. SL and TP are 100 pips away from entry.
you might be okay...i'm long from 234.30 based on a daily chart so i'm starting to feel the burn. my stop is in 233.40 area; limit in 236.00 area. if price turns back to the upside on a 4-hour chart (the timeframe i use to tweak my entries relative to a daily) then i'll add to my existing long position.