Friday, April 20, 2007

€ uptrend is broken.

I'm shorting EURUSD here at 1.3598. This quick runups, regardless of reason, rarely last more than 8 days. The consolidation short of the former high of 1.3666 shows there's some doubt about the breakthrough. It's likely, and healthy to pull back here.

NZDUSD looks over as well, but I'm not shorting, just closing. Triple tops aren't reversals.

I like EURJPY short and USDCAD long here. The loonie is moving in response to oil, should be a good reversal.

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