Heat in the FX Market

The non-dollar currencies continue to bleed.  The Australian dollar was a very crowded long and that is getting hurt the most.    It is surprising to the see the market hold up so well despite the strong dollar.  The crowded positions seems to be all short dollar.  Maybe the recent weakness in China is a warning sign that we're close to the upper limits on the risk trade.  Europe is certaintly not doing its part to keep the global market afloat.  This market remains vulnerable to a deep correction.  Maintaining my positions into the weekend and for the foreseeable future.