EUR/USD:
The EURUSD rose during the session on yesterday, but then struggled at the 1.06 level. With that,
the market looks as if it's ready to continue going lower, but we also recognize that the 1.05 level
below is going to be supportive which is very strong. If we can make a fresh, new low we would be
much more aggressive about our position. With that, we are playing “small ball”, but will eventually
press the issue
GBP/USD:
The GBPUSD broke higher during the course of the session on yesterday, slicing back above the
1.48 level. With that, the market looks as if we are testing the resistance barrier that extends all the
way to the 1.50 level. Because of this, the market looks as if it will offer a selling opportunity
sooner or later, and we have to wait to find a resistant candle in order to start selling again. It is not
until we break well above the 1.50 level that we would be buying. However, at this point of time we
are waiting for our opportunity to sell.
AUD/USD:
The AUDUSD tried to break out to the upside during the session on yesterday, but pulled back to
form a bit of a shooting star. With that, it looks as if the market is ready to continue to go lower,
probably heading down to the 0.75 level given enough time. We believe that this market is going to
be one that you can sell every time it rallies,because there is so much in the way of bearish
pressure. We believe that the market will eventually break down below the 0.75 level, and then will
head to the 0.70 level.
USD/JPY
The USDJPY initially fell during the session on yesterday, but found enough support to turn things back
around and formed a hammer. With that, it looks like the USD/JPY will continue to go higher. The 122 level
might be slightly resistive, but it's only a matter of time before we break out above there. With that, we are
bullish, and have no interest in selling this market as we think that there is more than enough support below
to keep this market from falling for any significant amount of time.
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