Eur/USD

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From IFR:

"London, March 16. The risk reversal curve"s topside strike premium has widened on the back of spot"s post-US CPI break above 1.2100. The 1mth 25 delta R/R is now 0.3/0.4 EUR calls over, with the 3mth 25 delta R/R 0.15/0.35 EC over last.

EUR calls in demand of late have included mid-dated 1.2300, 1.2400, 1.2500, 1.2600, and circa 1.2625 strikes"
 
Don't be so sure of that.

The dollar turn around here is significant. EUR/USD just broke 1.2150 and still shows no sign of a breather. I'm out of my longs on it because I expect overbought conditions to begin to take toll. But clearly, the mold is changed.
 
Advise you take profit now, Lon. An excellent trade, my friend. But this upmove is looking to run out of steam here with resistance @ 1.2160.
 
Yes. And it is as we speak. But if you're only in it for intraday, you'll be safe as a pullback will almost definitely come. It's just that I expect them to be shallow, so don't short for long.
 
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