I’m thinking that we may need to adjust our trading styles to these present choppy markets and that we may be in a phase which lasts for 12 months or more. It’s difficult to see any major trend arising in the EUR, GBP, JPY or USD (barring a Greek tragedy) and I think we should be looking to make 400/500 pips maximum in any one market phase, book these profits and then go looking again for the next opportunity. Buy and hold big dips in the AUD/USD and then trade the other majors according to short term sentiment, that’s how I see the next few months evolving.