- I’m bearish AUD on the crosses and I think the fall below .9950 last week was a sign of things to come.
- EUR/USD looks a bit toppy at 1.4200 as does cable at 1.6270
- AUD/USD technical retracement at 1.0012 is holding thus far
I’m taking a risky short at 1.0005 with a fairly tight stop (by my standards), clearly above the 20-day MA at 1.0051. My profit target is .9710 so it’s a good risk-reward trade.