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.
Friday, 26 March 2010
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