Good Day everyone,

Holy Mother of God...is this market slow or what?

Daily ranges so far are as follows: EUR/USD 20 pips, AUD/USD 20 pips, CAD/USD 15 pips and GBP/USD 30 pips.......

Yesterday we have a technical term for what happened in equities which is a "Outside reversal day"...which means, we broke into new highs and then pulled back and broke previous days lows....this is according to my training BEARISH......

There are 4 trades that I want to mention this morning: -

EUR/AUD - we are now long (FUN29).  The 240M down trend line has been taken out and should ewe break back above 1.4550 we could see a big move higher. Keep this on your radar.

USD/JPY - (and by inference all JPY pairs) If the USD/JPY breaks and holds below 101.80, it will drag other JPY pairs with it. Watch JPY strength today.

USD/CAD - 1.0780 is a key level if the EUR/USD breaks below 1.3600 and heads towards 1.3550 the USD/CAD could elevate. I am not too certain on whether it would squeeze beyond 1.0780 and break 1.0800 but at 1.0780 it could be a great short, as it has been trading very heavy of late. At this point I would also look at EUR/CAD and NZD/CAD again as shorts.

GBP/USD - The chart below shows the levels that I am looking at. Here is my trade set up: -

RT119
GBP/USD
SHORT
Entry at 1.6985
Stop Loss 1.7050
Limit 1.6750

I will be added on a break below 1.6920 previous support / resistance.

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/GBPUSD-240MINUTE-CHART-25062014.png"><img class="aligncenter size-large wp-image-3950" src="https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/GBPUSD-240MINUTE-CHART-25062014-1024x417.png" alt="GBPUSD 240MINUTE CHART 25062014" width="1024" height="417" /></a>

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Good luck with your trading today, take care do not get carried away.

I will tweet any new trades / amendments etc....

Scott