EURUSD
The Euro has been ranging around 1.47 with both sellers and buyers being evenly matched. However, the Euro failed to make a higher high prior to the previous 1.4972. Not only that, it seems like my system is going to trigger my short entry soon. Fundamentally, I expect the Europe to be hit by sub-prime issues as well. With a globalized economy, most major players will definitely be affected. Britain is one good example.
AUDUSD
The aussie is on a downtrend on both the daily and H4 charts which is great for my short position. However, one important point to note is the MACD on the Daily. Currently it is on the zero line, and should it bounce off, I'll be out of my shorts. But should it cross below, I'll start pyramiding and ride this baby down.
EURJPYCurrently forming a descending triangle, will play the breakout with a short limit order.
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