Good Day,

Wow, we really are very tight ranges. Not really much to look at except that the NZD strength continues to annoy me and I am starting to think that until we test the stops at 0.8880 we are not going to say enough.....and then start to pullback. I would say that both Wheeler (RBNZ) and Stevens (RBA) are pulling teeth on the elevated levels of both the NZD and AUD at the moment. They are going to have to get creative to weaken their currencies. Verbal intervention does not work.

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

EUR/USD (SHORT) -  In a 30 pip range....it really needs a break below 1.3575 to open up for the bears to attack. On the 60M chart it looks like a bit of a flag formation could be possible with a measured move to just on 1.3200. But we need to break below 1.3575 for this to come into play.

USD/CAD (LONG) - looks like we may pull back to 1.0650 before moving forward.  I am in a small position but I need to see a break above 1.0700 to add to my existing position size.

GBP/NZD (LONG) - long term FUNDAMENTAL trade hedged at 150 pips.

AUD/USD (LONG) - holding hedged at 100 pips.

NZD/USD (SHORT) - My most annoying trade at the moment. I am holding and expecting a run for the highs. I will add on highs to the position.

EUR/GBP (SHORT) - Fundamental news regarding EUR and GBP  is keeping me short but 'cable" is concerning me unless it starts to move higher after this consolidation period.

AUD/USD (SHORT) - holding and looking to add below 0.9320.

Those are my thoughts on the existing live trades. I am not looking to add any more trades right now unless we see some movement in the markets. The tight ranges across the board will eventually break but its all about patience. Right now we are in a one-sided market and until sellers start to re-appear it going to remain tight and a period low volatility.

If I see anything I will tweet. It is even difficult on pullback trades as the charts are so messy...

Scott