China shows a trade deficit last month for the first time,
this is an indicator that there is no real market recovery in sight just yet,

it looks like Eur, Gbp, and Usd strength have been premature in the markets,
and that the global economy is still stagnant,

all major pairs are at weekly and monthly highs against each other and the Yen at the moment,
so, what is the right play here?

A all around retracement down for most majors would seem in order,
and my favored pick would be the Gbp,
I intend to sell it against the dollar as soon as the markets open:

1.67 is about the level now, and although traders hope and stare at a historic 1.70 target,
the pair has been unable to hold above 1.68, and make new highs;
and so, retracement seems eminent

Gl all this week!
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