USD/JPY Making new lows

I am buying into this flush...

Has the capitulation ended?

Another bearish move today on the USD/JPY. Last night we took some profits on this pair as we broke the trendline in Asian session, I am happy I decided to exit at 110.60 area for +33 pips. You can see our move lower was pretty aggressive today. I have a feeling some big money was exiting their short USD/JPY trades today as the candles are starting to look like a bull and bear struggle, rather than a just one way street here to the downside. I think the exits of many usd/jpy retail trades happened this week and this can allow us for a nice relief rally here. We will see what happens...

EUR/USD Range Continues

I am on the sidelines....

Another range bound day for the EUR/USD today. We did get a stop run of our lower manipulation point today but did not manage the pullback. Strangely enough, even with the super tight range and the wider stop we missed the pullback by 2 pips. Needless to say we have seen more beautiful trades that just nearly missed over the last month or two then I think I have seen in years. I’m actually quite surprised that even during what I consider to be tougher trading conditions, the strategy continues to churn out profitable months. I’m a firm believer that a trading strategy is not defined by how well it does when everything is going well, but rather how well it does when a great deal is going against you. If your worst months are still in the green then your doing quite well. As far as today’s analysis for the EUR/USD we could literally use the exact same chart from yesterday as all of our listed levels remain the same and the directional bias remains open.

AUD/USD Intraday Bullish Until 76

I was long earlier in the trading room at .7550 took a profit already....

This is a pair that was sold off a few days ago when the RBA decided not to raise rates, however a dovish tone was present during the RBA release. I feel the 75 area that was hit yesterday will hold and take us to the 76 level today. I am not ready to call a top on this pair. We may range here as we decide the next direction of the USD and commodities.