I’m looking to scalp downside targets on the AUD/USD, the GBP/USD, and topside targets on the USD/CAD as noted in today’s Scalp Report. However currently I cannot justify selling into this market so long as risk appetite remains supported. On a daily basis we have breached some significant levels over the past few days and markets may be able to sustain this rally into Wednesday’s EU summit where we will get more clarity on market direction.
Since my bias on risk remains weighted to the downside, we stay flat here until a broader market sentiment supports our bias or news out of Europe negates it.
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