Aussie Dressed up but where to Go?

BTW, what is PPT?

Just trying to FX and work at the same time. Sorry for the typo. There is only one Pipped here :)

@Pipped-welcome to the forum. Are you appearing under a different handle? And very similar to my handle.

Anyway, I am in USDCAD at only nine pips higher than you. I closed a substantial position earlier today at 1.0588. Wasn't sure I could get back in, especially at these prices. However, there is still a chance of 1.0375/50 here as the PPT-backed nonstop U.S. equity rally has accomplished its task of making everyone feel good so as to take more and more risk in trading.

1.0850? Heck no-why not 1.1000-just make it nice and round!

Just need oil to head back to the mid-60s where it was going before the PPT stepped in to save DOW 10,000, and instill confidence (to lose more money) into Mr. and Mrs. Jones. Poor saps, fall for it everytime.

The one caveat and warning is I have seen in the past where the PPT "saves" the market, then it just explodes upward in momentum and short-covering. I am a bit nervous with the relatively "small" but consistent gains in equities. Sometimes these lead to large "pops" in the same direction, leading to exhaustion of the short-covering rally, nd a sharp and sudden reversal back into th impulse direction.

So keep plenty of powder available in the accounts...

Anything is possible-but your asking for a 200-pip decline in two days in what has been the strongest counter-usd rally pair out there.

I DO NOT expect theNikkei and European bourses to follow suit of the PPT-backed U.S. equity rally today. I have limit orders to close Aussie at 0.8956 on a position trade.

Building shorts in Gold, euro, usdjpy, cadjpy and long usdcad