Wednesday, January 19, 2011

It is all about the news

Some trading tips alive:

AUD/USD: Short term recovery is taking place but remains medium term toppish at present.
NZD/USD: Probes the November-to-January resistance line but is likely to stay medium term sidelined.
USD/CAD: Still has the May 2008 low at .9820 in its sights. Below it lurks the .9758/11 support zone.
EUR/AUD: Staged a recovery rally and probes its long term channel resistance line at 1.3466 which may cap.
EUR/NZD: Recent bounce back should soon run out of steam. Medium term picture remains bearish for now.
EUR/CAD: Recovery should soon fizzle out. We will maintain our bearish outlook while below 1.3563/94.

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