Follow the trend when markets are quieter, cover ahead of big announcements.
I liked EUR/AUD shorts yesterday and that train continued steaming to record lows overnight. That said, it’s probably a good idea to sit on the sidelines with all the moving parts in the next 15 hours: 1) China CPI 2) ECB decision 3) Spanish auction.
After 11 declines in the past 12 days, any of those events could spark the start of a 400-pip rebound.
