$GBPUSD is solidifying its congestion between 1.55 and 1.53. Given the right catalyst, this could develop a serious trend.
@dennisgjones Same forces pulling USDCAD down. It probably has little to do with the actual earthquake and more to do with normal money flow
Only the risk-loving trader would attempt a double top reversal on $AUDUSD near 0.92. The better Aussie setup is $EURAUD at channel support
$EURUSD and $USDCAD are the only two dollar-based pairs making any real progress into the close. Still very modest moves.
Another failed attempt by $USDJPY to overtake 85 (even in these quiet conditions) speaks to its speculative and fundamental weight.
If $USDCHFs stalled bearish break proves an exhaustion push after everything is said and done, I would be really enticed for a long setup.
Since $AUDUSD has stalled in its reversal; I am reassessing. A rising trend channel floor is my new turning point. http://twitpic.com/2kkv8m
My short in $USDCAD from last night worked out well. As did my $GBPAUD breakout setup. Didnt get a chance to build size though.
Taking a small, short $USDCAD position with a stop at 1.07 and small size. Initial target will be a little larger than risk and may build.
$USDCAD has shown a series of higher highs on an hourly chart as 1.0670 struggles to hold back the wave. The technical boundaries are clear.
Like David S and John R, Im watching $USDCAD. Triple top on the one-hour chart. Watching for a (false?) breakout. http://twitpic.com/2jzjgz
Alternatively, my short $GBPUSD position has more than offset the $GBPCHF losses with its drop to a new monthly low.
Good article from Bloomberg on the opposing fundamental argument to my long USDJPY position: http://bit.ly/cZE4pp
Third day of advance for $EURUSD. Still completely lacking conviction and tracking below the 50-day SMA.