After a night of adjustments on the crosses nothing has really changed in the FX market. The EUR/USD is penned in by big option plays, the AUD/USD market is long and struggling to break higher, cable finally gave up some ground after EUR/GBP bounced from technical support and USD/JPY did its usual 40 pip trading range. December is coming early to the FX market and if you’ve made your money already for the year then play defensive from now on as we’re going see a lot of Desperadoes chasing after moves trying to make a bad year better!
Those intent on sticking it out for the rest of the year should be putting their range trading hats on.
Good luck today.
