Friday, 26 March 2010

Really not much to add

Technically, charts are bullish for the Dollar. Yen crosses remain in a broad sideways pattern , although as the month draws to a close, end of fin year yen sales look to be drying up hence mild upside pressure is  once  again being seen.

Trading wise, good opportunities have been few and far between during the New York session with only quick entries to be had for 20-70 pips. Selling aud,gbp and to a lesser extent eur rallys is the favoured trade as is buying usdchf on dips.

Gold Head and Shoulder break still remains valid with target at 1048. Silver remains in a downtrend but we need to see a break and close under the 4 hrly 220 sma  for downward momentum is pickup targetting the 61.8 fib at 15.80.

Crude remains in a wide 78.50/83.50 band with trade opportunities on the break of the hourly 300 ema.

Dow......what can I say...the thing just keeps  grinding higher. I guess when u have a Fed that has pumped in 2 trillion dollars  into the market it has to go somewhere... Its day will come sure enough, it just doesnt look like that will happen  anytime soon.

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