Short EURUSD @ 1.3448

14.30 gmt

Gone short EURUSD, $260/pip at 1.3448. SL at 1.3510.

The ECB press conference is almost over, and we can see that there was pretty determined selling taking place, whatever Draghi said. It feels like the big money has switched to selling rallies. The system has also indicated a short here, assuming we close the 4pm candle below 1.35, which is very likely.

EURJPY also looks weak, but USDJPY looks resilient. These pairs may fall in sympathy with EURUSD, but it will be slow and choppy. Better to wait for that move to bottom and go long, and to focus my ammunition on the EURUSD.

14.39 Edit: corrected quantity – gone short $260/pip (26 lots).

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