AUTOREFRESH 
Choppy August markets continue
We got a taste of how this market is trading yesterday during the Asian session when the AUD/USD based at .8240 and rallied even while the EUR and cable fell. Those who had managed to get short close to the top were more than happy to book their 150 pips profit and shorts started feeling nervy. Exactly the same scenario played itself out in the EUR/USD overnight when solid buying interest at 1.4210/20 based the market, encouraging shorts to cover and eventually chase the market. I am not reading anything much into these up-and-down movements- merely a very clear signal of market indecision.
There should still be some decent movement in the JPY crosses today before the election weekend although I’m sure most of the stop-hunting has already been done overnight.
Good luck today.
Hi Sean what a up & down ride , I was able to get over 50 pips out of Eur/Jpy during NY almost enough to cover Nzd going up I sold 1 early & a bought it back 30pips lower , went out for a while & wow I sold 2 more at .6884. am I seeing a double top on the charts ? if so what would that mean .I have moved my postion up to .6720 & have 2 extra to buy back, have a good Day
Hey Burt. It does look like a top is trying to form at 6890 ish but I wouldn’t be at all surprised to see another run up through 69 and take out stops before heading lower. The 61.8% of the entire big downmove comes in at 6945 and if that holds then I will sell more.