Hi again everybody!

London open today found the market in great turmoil, after a rally in almost all dollar pairs sent the greenback to record lows. The USD is now trading around 1.5080 versus the EUR and above 1.99 vs. the GBP.  We were not in the room to catch the moves but the aftermath is equally interesting.

The pairs we mostly focused on are USDJPY, EURCHF and USDCAD, all of which present nice bearish opportunities with EW confirmations short. We are still waiting for USDJPY and USDCAD to pull back before we sell, but we are already short on EURCHF based on a EW setup in mid-term:SELL from 1.6083, stop at 1.6135 ad target down at 1.5750. We will manage the trade if it goes our way and adjust stop and target when this seems appropriate.

EURUSD and GBPUSD are still in bullish motion and there is no sign yet that this is over, however we anticipate a pause in the rally in the 1.51 area / 2.0020.

Happy trading!