EUR/AUD takes some back

This pair was very good to me last month but it’s clawed a bit back at the end. I closed my EUR/AUD longs for a small loss as the trend is too strong at the moment and the possible downside for the EUR in early September is simply too great. I’ll stick with my long AUD/NZD trade, which I will stop out below 1.2450, and of course my bottom-drawer cable longs. Feels like a market for day-traders, and position takers may well be in for a choppy few weeks.