I like the idea of selling EUR/USD if it makes its way up to the 1.34 resistance. Chinese PMI came in with a huge miss yesterday (CPI also came in, slight miss) and threw my AUD position for a bit of a surprise ride. Sitting in the red there currently but still holding for what I believe will be a bit of a short squeeze in AUD/USD, pair seems well supported at 0.90. GBP still floating around resistance levels. Again, all move my current open positions are smaller than I could have made them given that either the technicals or the macro fundamentals don't completely align. I remain largely on the sideline right now.
Further AUD commentary:
"daily chart does continue to show evidence of potential basing, and really only a daily close back under 0.9100 would concern......" - Joel Kruger
Agreed.
"Upside Scenario still favored" - Ilya Spivak
Agreed.
Side note: Twitter has to be the best place to feel out market sentiment.
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