In Forex, the story is one of positioning for USD long-sided bias at discounts. In the case of the EUR/USD, a topside auction at the high-end of its established range was gratefully sold amid the highlighted divergence it presented with our prop USD index. The GBP/USD provided another firm declaration of intent by sell-side forces as they re-grouped at the 50% retracement for what looks like a market that may give it another shot at the trend lows. The AUD/USD and USD/JPY, in line with the USD strength thematic, also provided very interesting locations as of late to engage in shorts and longs respectively, as I ... (full story)