AUD and NZD are just ranging and being bought up every time the pairs are sold mainly due to a lack of money in the market which can be seen from the COT data.

GBP is an interesting one where the price has remained quite bullish. Looking at where cable and the GBP crosses are sitting (resistance levels), I still think there will be some sort of correction before the seasonal bullish period, but it is unlikely to be the large weekly drop and more consolidation in nature.

CAD is moving as we planned, and I think continuation of this move depends on the BOC statement tomorrow. We could see one more nice intraday pullback (possibly 4HR back to the neckline) before another leg up.

CHF and EUR while dollar remains in Daily Phase 1, I think these present the cleanest intraday opportunities to buy dollar (CHF over EUR).

JPY, I would have liked to have seen a nice pullback (even if brief) but it hasn’t materialised yet. I have still bought JPY Intraday on the crosses but have kept targets really short. Rachel quite rightly pointed out the H&S on GBPJPY and I actually sold GBPJPY on the 1HR neckline but kept my target short and managed to get out of the trade before the big reversal. The reason for the lack of momentum is of course the other majors being bought up as soon as they are sold and JPY not moving. I will still stick to my strategy from the weekend analysis but will keep targets realistic and short.

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