Friday, July 22, 2011

End of Week Currency

$A remains bullish; an attack on 1.09 is likely in the offing (attack does not guarantee success).

Euros look bullish, but... There is stacked resistance, the first at 4465.

Pounds Sterling have converted a bear channel into a bullish condition. Expect an attack on 6550

$C saw the USD attack the trend today, but fail to turn things around. Stay bullish on $C

The Kiwi and the Yen are both bullish but --- but they are over-bought. Being overbought doesn't mean they won't go up Monday, and it certainly doesn't mean they won't go up next week. Most likely, both will.

No comments:

Post a Comment