The Aussie and the Kiwi continue to look weak across the board however the European currencies look a little extended and I think corrective moves in pairs like the EURNZD are quite likely. Even if the run continues I can not see a good risk reward possibility in those pairs. My surprise index for the AUD and the Kiwi gives a negative economic backdrop. The USD on the other hand may becoming to the end of its corrective movement aganst many pairs, it will no doubt benefit from a risk of move, particularly in US equities, the gains of the last few days have been significant but it is hard to find a caalyst. Mr Trumps tax news might explain it but do we really think he can deliver a huge tax package. I don't think so the market is likely to be dissapointed.
AUDUSD is fairly slow moving with low margin requirements making it a good candidate for a project 100trade, I thought long and hard about it bt inth end decided against it because of last weeks failed attempt at this trade, more choppy action might need a bigger stop than the project can afford. I will keep this option under review as the price action develops during the day. The chart below is not showing the correct stop loss I have adjusted it to 0.7560 profit target 0.74
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