Good Morning,

Sorry, I forgot to welcome the new subscribers from the weekend yesterday....belated greetings and welcome.

I have a gut feeling that U.S. equities are going to roll over today so that will hopefully generate some FX movement. Yesterday, was like an August trading day, it was really slow and very boring.

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

The EUR/USD looks like it is about to test 1.3685 sometime today and if it holds I will be reducing my position size in this pair by 50% from the current size. I still have a longer goal that this pair is going to 1.3450.

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

On the 240M chart there is a "Head and Shoulders" pattern developing but we need to see a confirmed break of 1.6820 to confirm that it is in play. The measured move in 1.6650.

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

This is trading very heavy at the moment and as you know it is the inverse of the GBP/CHF. If the GBP/CHF breaks out (I already have a limit order in place), I will look to short this pair.

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

Retail sales data is released later today and RBNZ Wheeler talks after that. I expect him to try and talk down the NZD as best he can when he delivers his speech. If you are not already short, an entry between 0.8650 and 0.8670 looks great with solid support sitting at 0.8600. If this pair breaks thru 0.8600, it should be a great move lower. I am already short and I will add on a break below 0.8600.

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I am also looking at the commodity crosses some of these have been beaten up really bad of late and key support levels are close.

I will tweet any new set-ups,

Good Luck trading today, lets hope we see some moves,

Scott