Support becomes resistance

London open brought in very strong USD and selloffs in E/U and G/U with the latter falling a lot more due to buying in E/G. E/U broke support at 1.3595 by around 20 pips on high volume. Of course I didn't get in the breakout (since most of them are fake), but waited. USD strength developed across the board and E/G reached resistance slightly below 9100, suggesting a turn. I shorted E/U as it retraced to 1.3595 (support becomes resistance) and then fell down. I got only +10 here as the liquidity dried out. Better safe than sorry.



Same play on G/U. I missed this one, because I was taking a nap.



Another trade was a bounce on G/J. You can see it was pretty much in a freefall, but the first bounce at a round number was respected. What happens after the bounce (+15), we really don't care about. How did I choose the 134.00 level? Well 1) it's a round number, 2) G/U and U/J were both going down and 3) the move became over-extended.



U/CAD support holding strong. It will break eventually, but not yet.


-Tyler