Good Day everyone,

A very quiet opening to the week. The Geopolitical news still dominates the market. The EUR/USD and USD/JPY will be the drivers to day regarding currencies in my opinion.

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

We are currently trading around 1.3515 or so. We need to break lower below the 1.3490 that we saw on Friday last week to get things moving. It looks like any stops in this pair lie a little below Friday's lows and should they be attacked and taken out, then we should get a nice move lower on our hands. From last week, the chart posted with the bear flag formation to about 1.3250 would come into play should we get below the stops that lie below 1.3500.

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

Support at 101.06 from last week is key moving forward. Like the EUR/USD this pair just isn't bouncing and resistance at 101.45-50 looks very good.

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I have lots of trades open at the moment and I am not really looking to add further exposure but consolidate existing positions by adding lots and moving stops / limits as necessary.

It looks like all the bigger news is towards to middle and end of the week, so until then we have to exercise patience and sit back and wait.

Take care and good luck with any trades you take today,

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Scott