New Positions

With Euro, Cable and Swissy approaching important support and resistances and with daily indicators having reversed, it´s time to look for signs in price that this trend is coming to an end.

Correlations are way out at present. Aussie and Usd/Cad often lead a change in trend sometimes  by  a  few days. Watch Gold, it was a great indicator yesterday that we  would see a  sharp reversal..

On the fundamental side not a great deal has changed except for the fact that Greece will not be allowed to go under.It is only a matter of time, before another European or Eastern European puts up its hand for help...China is on a tightenning path. Iran still is stirring the pot....Be it political or real , the US economy is beginning to turn...Given these facts the bias toward safer assets remains...

I will be looking  at -

Buying Euro down around the channel bottom and 61.8 daily fib - when hourly indicators turn bullish and 4 hrly indicators are approaching a turn.

Buying Cable down near 1.5500/30 chasnnel sup - when hourly indicators turn bullish and 4 hrly indicators are approaching a turn.

Selling Usd/Chf  at channel res 1.0830 - when hourly indicators turn bullish and 4 hrly indicators are approaching a turn.
 
Selling Usd/Cad on a failure at the hrly 300 ema and res. -
when hourly indicators turn bullish and 4 hrly indicators are approaching a turn.

Take your time, wait for the trades to set up, then pull the trigger. I find it helpfull to enter with a small amount first if your not 100% certain and then add..  that way the ansiety is calmed and if your wrong u dont do much damage to your account..