Sunday, April 26, 2009

USD/CHF is working along with the early EUR/USD weakness...but we do need a full breakdown to make this work. A down day in equities tomorrow would be nice :)

Little to no gaps that I'm interested in.

The EUR/USD may be due for a bounce off the 1.31 price area and I may watch this during the UK session tonight.

Being Harry Hindsight for a minute, the G/U produced an awesome opportunity to short at the 1.4775 resistance on Friday. I may have been sulking still from my losses earlier and missed it, I don't recall...anyway, just something that I should have caught.

Looking for further USD strength, my watch zone on the GBP/USD is at 1.44 for longs.

All of this being said, I can definitely understand the EUR/USD wanting to test up to 1.34 (which would make for a gorgeous short) and the USD/CAD down to 1.20 before moving back up. We'll see what happens over the UK session tonight and with equities tomorrow morning. USD/CHF long will stay on with stops in place...I'm really looking for 200 points on this one, 150 min.

Real quick, showing the 1.31 support area, also the 50% fib, in anticipation of a bounce on the EUR/USD.