Macro update:
German Constitutional Courts decision effectively was an approval of printing money. I was personally surprised at the benign condition enforced and its something which will come back to haunt not only Ms. Merkel but also Germany, having said that: THIS IS GAME CHANGER for now.

We have gone long EURUS(http://tinyurl.com/8o8scsd)
and risk-on generally as the tail-risk in Europe is now down short-term, while the systemic risk have increased. Basically, Europe bought time, but remains unreformed and with more social tension coming.

Tomorrow is FOMC: We expect MORE not LESS from FOMC and hence sees this as the finalization of the 5th wave theme(http://www.tradingfloor.com/posts/the-fifth-wave-1420239964) I talked about earlier this week.

I suggest being long gold, EURUSD and AUDUSD over the FOMC and into Friday, but also think/believe this is FINAL PHASE of this move so by Tuesday next week we could be back to normal.