Last evening’s move, the sharp decline during ASIAN trading hours, could be attributed to several factors.
-Liquidity during off hours
- OPTION TRIGGERS HITTING
- STOP LOSSES BEING TRIPPED
We want to see the mean reversion to RE LOAD USD LONGS. For now, we have FADED this USD move expecting the USD to sell off on the crosses.
NZD our favorite, we have also sold USDJPY and bought EURUSD. We risk recent lows/highs.