AUD/USD
FROM HERE: sell around 0.7880 to target 0.7830 then sub-0.7800 (very possible within 2 days)
BUT: consider reversing position if 0.7950 breaks on top side to target 0.8000 and beyond
COMMENT: May have seen top for a while due to ‘evening star’ formation. Go short and remain short until tomorrow’s report
USD/JPY
FROM HERE: trade within the range of 119.20 – 119.80..
BUT: outside this range may determine next direction for the rest of the week.
COMMENT: market still undecided but is bias towards downside
EUR/USD
FROM HERE: cautiously bullish so buy around 1.0900 to target 1.1000 for start.
BUT: square up and re-assess if 1.0880 breaks
COMMENT: tone is still bullish but momentum is drying so don’t get too agressive on longs
GBP/USD
FROM HERE: range trade between 1.4800 – 1.4950. Can adopt averaging strategy within this range.
BUT: square up and re-assess outside this range. However there is slight bullish preference.
COMMENT: Bullish divergence is in play but 1.5000 is hard to crack. Still prefer long than short position.
