Euro Pauses for Steam on Political Smoke

Europe's political woes  is being blamed for today's selloff in equity indices and non-USD currencies as Spain's PM Rajoy and his Popular party are embroiled in a corruption scandal.  Rajoy's denial failed to convince. EURURSD drops towards the 200-WMA after having broken above it last week for the 1^st time since Oct 2011. EURJPY is also on the decline after EIGHT consecutive weekly gains in the pair, which was the longest run since 2008.  We will issue a Premium piece later tonight ahead of the RBA decision.  Status on Wednesday's Premium Insights is: 5 trades are in progress, 3 hit all targets, 5 unfilled and 4 stopped out. 1 EURUSD long hit all targets, 1 in progress, 1 unfilled. 2 of 2 USDJPY unfilled, 1 of which missed the 90.80 fill by 6 pips. 1 GBPUSD (long) hit all targets , 2nd (short) stopped out by 17 pips before tumbling towards projected target. 1 of 2 AUDUSD in progress, 1 stopped out. Both CADJPY unfilled, 1 missed 90.0 fill by 7 pips. 1 of 2 EURGBP longs hit all targets, the other unfilled (missed 0.8520 entry). 2 of 2 Gold stopped out. 1 silver in progress, 1 stopped out by 8 pips. 2 of 2 oil in progress.