Looks like JP Morgan’s sell recommendation has done the trick in EUR/USD as it’s broken out of its short term range and made a move; higher of course. I still don’t see any reason to be either bullish or bearish on this pair, but if the market is neutrally positioned and suddenly acquires a particular bias, then we could see a 10 big figure move emerge. This overnight move higher could be simply an effect of repositioning in EUR/CHF so I won’t be buying breaks.
USD/JPY is unchanged from yesterday, USD/CHF stalled at technical resistance near .8000 but still looks like a buy-dips proposition and AUD/USD is back at the bottom end of the previous consolidation channel.
Good luck today.
