This is the time of day when people who have comfortable jobs get to take an hour off
Does anyone even take a lunchbreak anymore? Anyway, it was at this time yesterday after New York went to lunch and Europe went home that risk trades bottomed for the day.
EUR/USD and GBP/USD bounced about 70 pips in the next few hours. I highlighted AUD/JPY as a good candidate for a bounce to 86.30/40 from 85.49. It hit 86.36 ten hours later.
Sentiment in stocks hasn't come off the rails in the same way it did yesterday so a bounce might not be as dramatic but EUR and GBP look the best candidates.
