Good Day,

I apologise once again that I forgot to tweet that I had posted the update yesterday morning.

<span style="text-decoration: underline;"><strong>OVERVIEW:</strong></span>

I have taken the conservative route today, by closing out my JPY trades. I want to bank $$$ that is what I am trading for. The JPY pairs are really held captive by the USD/JPY that needs to break 101.20 to get things moving. With the EUR/USD  fall appearing to be halted for a while, the EUR/JPY should stay quiet until next week at least, so this was in mind when making the decision. Above all, I wanted to bank some $$$ into my broker accounts. I hate giving profits away, in particular when I am not at my desk to control matters.  The great thing about the Forex market is that you can always re-enter on a pullback.

The spike lower and pullback in the EUR/USD from 1.3650 yesterday, was telling. I think we maybe on hold for a while before heading lower again. In fact, I am hoping for a move back toy 1.3800 in the EUR/USD to enter short once again.

The markets do look quiet today and we have been range trading in some very tight 20-30 pip ranges overnight. I am hoping that today will be quiet as well, but because I am not around it will no doubt be frisky in the North American session. Please be careful if you trade today, remember that it is a Friday  and you really do not want to get caught on the wrong side of a trade and have to hold over the weekend hoping for a move or gap in your favour. The tight moves overnight do worry me a little and also the Friday squaring off of accounts could cause volatility.

&nbsp;

<span style="text-decoration: underline;"><strong>TRADE SET-UPS:</strong></span>

I will not publish any new trade ideas being a Friday, but I have some thoughts on CAD and CHF pairs for next week plus how to re-enter the JPY pairs. That I will have in the blog tomorrow.

&nbsp;

Be careful today, I have a gut feeling that moves are in the air.....

Scott