“Make up your mind to act decidedly and take the consequences. No good is ever done in this world by hesitation.” ~ Thomas H. Huxley
Good morning. Stocks are retreating from Tuesday tops, oil rallies on US – Iran worries and euro remains under pressure ahead of French bond sale today - reaching record lows against AUD and JPY.
USD Index
Uptrend is steady and recent top near 81 is still in focus. Next trade opportunity should be more obvious once it exists the range.
USD Index Chart Daily 1-5-2012
EURUSD
Euro just missed another good chance to step into the (short-term) bullish territory above 1.31. Except October’s retracement, all recovery attempts in the last 4 months have been weak. Same theme is likely to play out for more weeks: selling into rallies and selling into weakness.
Euro Vs US Dollar Chart Daily 1-5-2012
Silver
As mentioned yesterday - a scenario that I’m considering is to buy on the break of 30. While silver doesn’t return in the 28 region, momentum remains positive and there’s a fairly good chance that recovery will continue
Silver Chart Daily 1-5-2012
USDCHF
Given all SNB’s efforts in the past few months which are likely to continue, both official or spread by the rumor mill, long USDCHF (and/or others against CHF) is becoming one of the most obvious trades of 2012. At least in the first quarter. Speaking of CHF, while everyone and his wife (literally) is probably short CHF, you may be interested in this story
US Dollar Vs Swiss Franc Chart 4hrs 1-5-2012
AUDJPY
Not much to see yet, as AUD is in correction mode since yesterday. Upside remains favored, though
Australian Dollar Vs Japanese yen Chart Daily 1-5-2012
Have a great day!
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