Good Morning / Afternoon / Evening,

As you can see I have started to establish core positions in the commodity currencies and two commodity crosses.

These are small positions at this stage based upon the fact that the market appears completely underwhelmed by the RBA statement last night not confirming rate hikes or rate reductions. As usual the market is way ahead of it believes and not based upon facts. Not that facts mean much at the moment hence the small entry positions.

The AUD/USD if it breaks below 0.9200 and double top measured move to 0.9100 is play. The USD/CAD if it breaks 1.1075 has a double bottom in play to 1.1150.

I am now  short: AUD/USD and NZD/USD. Long CAD/CHF, EUR/AUD, GBP/AUD and USD/CAD.

I do not anticipate adding more positions, and frankly, nothing interests me right now until the EUR/USD breaks out of 1.3710 to 1.3850.

I have two limit orders with the brokers EUR/CAD and AUD/CHF both longs. They are quite a bit away from my proposed entries, I have a t this stage no intention of changing them. I will tweet should this position change.

Did you see that it once agin appeared that CAD news was pre-released once again?

Scott

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