European FX Midday recap - AUD/USD shorts to pay off big time

14:20CET

AUD/USD shift in retail positioning (52% long now), same as EUR/GBP, is likely to trigger major stops on the way to 0.95. Further, there is avery clear bearish pennant forming in the 4hr chart, 0.9605 should be seen today.

EUR/USD and GBP/USD have not (yet) shifted positioning, but they are close to doing it, and the EUR/USD inevitable 1.35 target is looming there.

Little to add from here, as Gold hovers around 1,330, but a break of 1,315 looks likely, and that would confirm the H&S pattern, thus creating a USD upmove in straight fashion.

We are just at a throw a stone from a real USD progressive march move, let's not miss it.

Posted via email from MT4