USDINX may settle to 78.75
Looking at the pair and possible  Resistance coming into play, the index may drop to 78.75 as Consolidation takes the pair in mid week trade. Tomorrow holds a bit of event risk as GBP unemployment and quarterly inflation hit in early EUR trade. This is followed up by the FOMC Rate decision in early afternoon US trade. The negative close in stocks today by both the US and European markets, is interesting. Oil is back under $70.00 and with the event risk tomorrow, they may be more than a few standing aside as the market gyrations may get overdone.
EURJPY Profits taken
My short EURJPY trade closed with profit on this morning’s drop to 135.24 lows. (Current profits are not indicative of future gains). I still have another short in play for 133.70 targets further down. With today's profits I could close out that trade and still be up around $120.00. I had to wait on this trade for 8 days, and that accounts for the .96 cents I paid in roll on the original position. Make sure before you follow my trades that you back test the system to see if you have the stomach for it. 8 days is a long time in a lot of trader’s books.
AUDUSD keeps pressure on, under .8300
If you aren't short on this pair, now is not a good time to get in. The move lower to an initial target of .8200 is only 92 points form done. the run line, shorter of the two red lines, was a little steep, but it's a valid setup none the less, and although .8300 is important on the top side, I will be watching the .8320 area more.
USDCAD Rockets higher, is the USD alive again
Almost 175 points higher on the day, the UADCAD has little room to go today. Highly oversold hourly’s, with moderately oversold multi hourly charts may induce a bit of a pull back or at least some stalling ahead of 1.1050. The pair reached a high of 1.1045 and has since dropped closer to 1.1000 after the NY CUT. Stalling without a drop below 1.1000, provides room for a break higher with technical support.
EURUSD Double support ahead
The coming test of 1.4100 comes against a rising support line and a nice round 1.4100. Those familiar with the currency market are aware that prices tend to get sticky around double "00" numbers like 1.4100. When they coincide with support or resistance lines they can be troublesome. I think the pair is headed lower in the near term but a rise to 1.4200 and even 1.4300 may come before a move lower happens.
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