Last week was volatile from the ECB rate hike news and Non Farm Payroll report. This week the Majors have started out slowly in ranges.
EUR USD has moved down, kissed 1.0800 and retested 1.0860 We expect the pair to grind higher and keep the Retail shorts in check.
UDS CAD moved up today in a grind higher. With crude oil prices moving lower and USD "strength" in the news we take a contrarian view and expect the pair to move down against Retail longs.
GBP USD has moved down after last week's whipsaw volatility. We are still GBP USD bulls with upside potential to 1.5400 We expect the pair to continue to grind in ranges before moving up. Currently near 1.5050 we expect a move higher this week.
GBP NZD has continued to baffle. We have some upward momentum after last weeks downward run. We are bullish on this pair but the price action has been whipsawing the last few weeks.
AUD USD still in a range stubbornly refusing to go below .7000 Our upside potential is .8000 but only after dipping below .7000 This pair has been trading back and forth in a 300+ pip range for weeks.