It’s been a clean trend since last Friday morning. That’s when the 151.95 level came back into play, just after the NFP report. This is a big level as it had held the highs in both 2022 and 2023, helping to provoke reversals even though carry remained aggressively-tilted to the long side of the pair. That price only traded briefly; for less than two minutes as bulls jumped back in to support the bid. I had highlighted this theme on Thursday with a focus on that price level. And since then, bulls have continued to drive as the pair now sits approximately 370 pips higher. As I had talked about a few times last week, ... (full story)