- As we mentioned yesterday morning, EUR/USD seems to be forming a base but I would expect gains to be hard-fought and prices around 1.2850 are not the place to be getting bullish. 1.2550 is now the base for mine and I will look to buy dips to 1.2650-1.2700 for gains towards 1.32ish.
- USD/JPY has turned mildly bearish in the short-term and I prefer to play this pair from the short side as long as EUR/JPY stays below now pivotal resistance at 126.00. My medium term range expectation here is 92-102 and as we are close to the middle of this range, I will stay short but only run a small position.
- AUD/USD should go higher but is tied in by the option barrier at .6560. It might just be worth buying a break of that level with a tight trailing stop. Employment numbers today will be pivotal.
Good luck today.
