There are masses of EUR/USD options covering moves between 1.0400-1.1000

Cover thins below 1.0400 towards parity

There is very little cover for a drop below parity nL1N2Y30CT

EUR/USD has fallen 2000 pips since taper talk emerged, parity 400 pips away

If EUR/USD maintains its trend it will surprise most traders

Unexpected moves are often big and have a tendency to be disorderly

EUR/USD traders should prepare for a drop to parity and beyond nL1N2Y30C6