Good Morning,

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

Very quiet overnight in Asia and Europe would appear to be slowing down ahead of the holidays.

The EUR/USD rallied on poor German PPi data. I think that we have a standoff  looming between the markets and the ECB. Draghi will have to get on bended knee and plead with Merkel for permission to approach the market with QE and / or Negative Interest Rates.

GBP/USD looks like a false breakout  to me its already failing, but it is the GBP and it could turn at anytime.

The AUD and NZD both rallied and have started to pull back. The NZD/USD 60M chart looks really interesting. A down sloping trend line the last move 61.8% is at 0.8650 which held overnight. I see 0.8590 as a key level moving forward and below this level it gets very bearish in my opinion. If futures weaken based on the back of IBM quarterly results it could be interesting.

USD/JPY very shallow tetra cement of last move 38.2% to 102.40 the S&amp;P rallied 78.6% in comparison. So as I see it the USD/JPY didn't really rally with the S&amp;P but if the S&amp;P falls it would seem logical that the USD/JPY would fall quite easily.

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

NZD/USD short RADAR TRADE triggered at 0.8620.

USD/SEK long this trade triggered and was stopped out for a 234 pip loss. I set a dreadfully wrong stop loss. What the hell was I thinking? I will re-active a RADAR TRADE later for this currency pair.

&nbsp;

Nothing else on my mind.

Good Luck and take care from about 11.00am EDT today it will go very quiet until Tuesday/ Wednesday next week. Markets will be very thin.

The next DAILY FX POST will next Tuesday, but I will post a blog in the PREMIUM SERVICE this weekend.

Scott