The EUR crosses, EUR/GBP in particular, accounted for the most excitement overnight and this is one short term trend which I expect to continue. Cable looks like it is establishing a topping formation and selling rallies seems like the play there. EUR/USD has ground out more gains towards last December’s high at 1.4700 and there is talk of really big stops above. Buying dips remains the most profitable strategy there until the worm turns. AUD and NZD are sitting close to recent highs and there was talk earlier in the week of good sized sell orders ahead of .8700 and .7100 respectively. Stops are now to be expected above both these levels.
Good luck today.
