Written by Derek Frey
Tuesday, April 6th, 2010
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Last week we saw a number of two sided moves across the majors. This week we expect more of the same. The situation in Greece remains very fluid and until more details are known, volatility will remain.
EUR/USD:
I am looking for weakness in this pair early in the week that we can buy into. I am looking for the Euro to hold support near the 1.33 handle.
GBP/USD:
This pair has followed through nicely since I recommended buying it in last weeks issue. This week I am looking for a major break to buy into again but the risks are now reaching levels where they will begin to outweigh rewards…
USD/CHF:
I remain comfortable selling this pair on major rallies above 1.07.
USD/JPY:
This pair is a sell north of 94.00 this week. I am looking for a move back towards 91.00 by end of month.
USD/CAD:
We have now seen Parity breached. That being said we still remain cautious in the days ahead. If we see a major breakdown below parity I will begin to step in as a buyer.
AUD/USD:
The RBA raised rates yet again…”Buy the rumor, sell the fact”.
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