AUD/USD
FROM HERE: Cautiously sell around 0.7735 and again around 0.7750 to target 0.7643 this week
BUT: square all positions if 0.7780 breaks and re-assess.
COMMENT: “cautious” because we have a spinning top formed overnight which means indecision of next direction
USD/JPY
FROM HERE: buy around 121.00 and again around 120.60 to target 121.83 then 122.00 and above
BUT: below 120.40 may trigger short term stops which may lead to 119.80 area
COMMENT: higher highs and higher lows formed on daily chart supported by bullish indicators so don’t get short.
EUR/USD
FROM HERE: sell around 1.0877 to target 1.0783 then 1.0760 area
BUT: above 1.0930 should see short term stops triggered. If that happens, re-assess to see if to go long
COMMENT: Bullish divergence is forming on the daily chart but need more reversal signals for confirmation.
GBP/USD
FROM HERE: cautiously sell around 1.5150 to target 1.5028 for start
BUT: major resistance is around 1.5254 so consider reversing position if that breaks
COMMENT: Show caution because we see a Harami pattern formed on the daily overnight. First sign of reversal.
