- The NFP was bad but the second reading is that rates hikes will be delayed which is probably inducing this bounce.
- I think there is failure in the next few days.
- It will be interesting to see how Europe reacts tomorrow with EURUSD bouncing (I see potential target 1.13).
Invalidation: close above 2125.
Optimum way to play it:
Buy Put option
Invest 15bp – Could multiply by 10 if works. Cheap if fails.