Hi everybody!

We started the London session today with a look at the AUDUSD, which at the time was in a minor bearish correction but still strongly supported for upmoves, targets @0.9270, 0.9334. At the time of this writing the first target was reached, waiting to see the reaction to the 2nd target.

EURUSD and GBPUSD looked overbought, possibility of consolidation down however the bears have not yet stepped in with serious momentum. Charts look like forming a narrowing range which at the moment points down, with a more bullish bias for GBPUSD (it seems to have started rallies across the board).

USDJPY and GBPJPY both looked bullish, with USDJPY confirming earlier and giving a stable rally on overall yen weakness, which we expect to continue.

However, the big winner of the day remains the CAD, which managed to rally against all the majors, especially agains the JPY and EUR. USDCAD looks like in the first stage of a much larger leg down, a move that we are currently focusing on.

Happy trading!