AUD/USD
FROM HERE: sell around 0.7643 to target sub 0.7500. Trail profit if all goes to plan
BUT: may see short covering today which may squeeze up to 0.7700 (unlikely).
COMMENT: Very bearish sentiment medium term view hence always on the look out for good level to short or sell.
USD/JPY
FROM HERE: given overnight candle formation, sell at market or 121.27 with tight stop to target 120.60
BUT: above 121.50 may see bulls resume their charge back up towards 122.00
COMMENT: watch to see if an ‘evening star’ pattern is forming along with other indicators to confirm bearish reversal
EUR/USD
FROM HERE: Sell around 1.0685 to target 1.0574 for start. Trail profit at pivot levels
BUT: small short term stops above 1.0700 with more stops above 1.0760
COMMENT: Bears are in full control, don’t try to pick bottom because risk / reward ratio not there.
GBP/USD
FROM HERE: sell around 1.5088 to target 1.5020 then sub-1.5000
BUT: 1.5020 is very well supported (triple bottom) so be careful at this level.
COMMENT: Although 1.5020 is solid, overall USD strength may take this support out today after couple of attempts
