Monday, November 17, 2008

Good Evening...

...scaled into some EUR/USD shorts and USD/CAD longs this morning. I've closed some of the earlier poor entry positions at breakeven and remain with a couple small entries (1k lot). EUR/USD is sporting a +120point lead while the USD/CAD long is nearly +200. I just entered a second USD/CAD long (2k) just above 1.23. I'm looking to see this test and break 1.24 and I look to see the EUR/USD return to 1.23-1.24. I will add additional EUR shorts as we break the 1.26 level.

I'm keeping my eye on the NZD/USD for a short at the 55.5 level to see it break support at 55 and head down to test 54.

USD/JPY closed for +46...

...wedge forming and I'll stay out until the top of the range comes. Very possible to see a swing to the upside.

Good morning..

...I've added a couple of positions.

Long USD/CAD with 1k @ 1.2322

Short EUR/USD with 2k @ 1.2644

USD/JPY is +50 but we really need to break 96 to see lower lows.