Archive for February, 2010

Chinese Lunar New Year coupled with an already uncertain situation will end up giving us a large two sided market this week. Look for the Dollar strength we have enjoyed to stall. Gold is currently in one of the biggest bubbles I have ever seen in 20 years of trading. It is shocking to me that otherwise intelligent people are buying gold up here. Don’t be a sucker!

EUR/USD:
This pair is in major “play” right now due to the PIGIS (Portugal, Ireland, Greece, Italy, & Spain)  Until Germany steps up with a recue and discloses the plan to all, the uncertainty surrounding it will breed continued volatility.  WE favor selling rallies this week.

GBP/USD:
The Cable is now struggling to test resistance near the 1.59 handle.  We are sellers of rallies here as well.

USD/CHF:
This pair is also in play due to the PIGIS.  Supports near the 1.05 level should hold near term and we are therefore buyers of dips towards that level.

USD/JPY:
This pair is near the mid point of it’s medium term range and is therefore more riskier than usual. We are looking to buy major dips but we will be very patient with any Yen pairs this week. Same comments as the last few weeks ad it still holds true.

USD/CAD:
Near term this pair represents more risk than opportunity and I will therefore steer clear of this pair this week.

AUD/USD:
This pair is a sell above 90 this week. We are looking for some of the froth in commodities as a whole to begin to come out of the market over the coming weeks.

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