We will conduct an in-depth analysis of pricing to determine what validity, if any, this thesis has.
We continue to be LONG EURJPY in what we feel is the on-set of a RISK OFF move. We trail our stops (129.60). And wait patiently to see if our hypothesis is proven.
In addition, we now have a LONG EURNZD position and a LONG EURGBP position.
This would be a major paradigm shift, and one that will take some time to take effect, but we could start seeing the signs of adoption soon. EUR crosses should catch a MASSIVE BID in the next RISK OFF episode, that is part I, part II would be if EURJPY continues to RALLY.