Morning Update

I wasn't really in the market yesterday. So didn't manage to play any trades.

But we do have a few economic data's coming out today.
UK Halifax HPI is at 6am GMT
Euro zone's composite and services PMI is at 7.40am GMT
UK services PMI is at 7.58am GMT
Euro zone's retail sales data is at 9am GMT
U.S ADP employment survey is at 12.15pm GMT
U.S ISM non-manufacturing PMI is at 2pm GMT

Here's a bit of an update of the pairs i play:

USDJPY: yen has strengthened alot but Japanese Finance Minister Noda has warned that he would closely watch the FX movements. So there is a little bit of a risk of intervention here. If i was to sell i would put a very close stoploss, in case movement changes.

AUDUSD: Aussie pushed higher yesterday because of the strong figures that came out. there seem to be offer orders placed above 0.9150 and bids coming in just above .9080. So maybe this is a range we could play intra-day.

EURUSD: Euro still very bullish, and we see some hedge fund names taking profit and selling above 1.3200 levels. little high to be going long here, so i'm going to be very cautious with the Euro, keeping tight stoplosses.

GBPUSD: sterling topped out on the Fib resistance at 1.5969 which is the 61.8% retracement on the 1.7044-1.4428 move. but we still looking at a bearish dollar and high chances of 1.6000 being hit. I would look to long sterling but sell around the 1.6000 levels.