Today was a very exciting day when the euro unexpectedly took off with the EUR/USD flying a shy of 200 pips for London and NY. Although the dollar was falling a bit, the majority of the move was the power in the euro. The pound stayed relatively the same while USD/JPY took momentarily dip and the Aussie and New Zealand dollar both had a mini rally as well. But certainly, today’s spotlight was on euro.
Unfortunately, I was not quick enough to catch the flying EUR/USD. I wasn’t sure what was driving the euro so strong and it just felt too wrong to short the dollar especially after it’s monstrous rally. I lost some pips shorting the USD/JPY a bit too early, however, I did short it again which I will hold overnight. I think it’ll take a couple more sessions to see if the change in the euro is an actual reversal, however, it did have it’s best day since June.