Finally after few weeks of lull the markets have moved again. Be wary though as the momentum has just started, and so any reversal trades have to be closely watched.
- EURUSD ►new lows made, and aggressive longs can be taken into any overshot to the downside, but exit fast as the bottom is impossible to pick
- GBPUSD ► drifting lower in the absence of catalysts, but no medium term opportunities
- USDJPY ▲ maintain long bias but be careful of stops this week as it is a week-long JPY holiday - that being said, any liquidity-driven spikes can be traded in the opposite direction (mean reversion)
- USDCHF ► the move up was anticipated, and aggressive shorts can be placed at 1.03 levels
- AUDUSD ► good and conservative opportunities not available - await formation of bottom
- USDCAD ▲ look to buy on a small dip this week, but the RRR is not too good as the pair is in the upper range of the channel
- NZDUSD ► good and conservative opportunities not available