Hello Traders,

This week, I believe we have some technical set-ups ahead that seem good. I am long EUR/USD. If you look at this chart it has hit a strong support on the daily charts and I believe it will be range bound more than anything. I dont believe the dollar is ready to take off yet. I also believe that Yen will gain if the dollar loses. As money flows out of USD and into Eur and JPY, we want to look for an opportunity to get short on USD and GBP.

Looking for opportunities long:

EUR/USD
EUR/GBP

Looking for opportunities short:
AUD/JPY
GBP/JPY
USD/JPY
USD/CAD

Also remember that when stocks sell off, capital has to flow somewhere... if you believe stocks will continue to rise then you should not be purchasing Yen. if you believe stocks are range bound, or have some more selling off to do... buy yen. Watch the Dow Jones and SNP closely!

I believe you will make money in this environment by riding the "risk on" and "risk off" waves.





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