Still a very unclear picture of the market; just when you think youre getting a grasp of what the market is doing, the bottom falls out. Im speaking specifically about the AUD/USD pair. A very big reversal candle yesterday following the recent breakout higher. For us, the perfect world would be for more dollar losses across the board followed by a longer term dollar appreciation into the end of the year. Were now expecting a further sell off in the majors and for the dollar to appreciate during the next 24 hours still the pullback following the weekend EZ/IMF bailout of Greece. Still, there may be problems along the way that will add to big surprise moves so trade with caution and tighter stops.
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