Scale Out

G'Morning,

If you are short on EURSEK cross then you should consider scaling out. This cross has moved down about 400 points since mentioned on here a couple of days ago.

The USDCAD pair has performed very well and it looks like after the current push up we may stall for a while so scaling out on this pair should also be considered.

The AUDUSD has moved down considerably overnight and the triple top is the reason behind this although we have had a good potential fifth wave setup. However, shorter term a head and shoulders is being created and the current right shoulder is on 786.

The GBPUSD is looking very bullish but the £2 resistance is the issue here. A pullback and continuation above that value should allow for a further move up but until then we may be range bound.

The EURUSD has a resistance at 13050 and currently supported by 12980. A break below 12900 could see further downside but a break above 13050 might produce a bullish outlook.

Good luck all.