Happy New Year! After wrapping up 2009 with over 5,600 pips made for the subscribers to the inner circle, we are looking forward to 2010 being and even more prosperous year! We are expecting rather large range bound markets to be the norm for the months and even years ahead. This type of market is often called a “traders market” and rightly so. This type of environment is especially suited to the harmonic method that we employ in the inner circle. So needless to say we are excited. The Dollar continues to dominate the media and for the near term we expect those headlines to keep the market range bound. The great news it the ranges are 200-800 pips in size so more than enough opportunity within them!
EUR/USD:
The Euro ended the year much where it began but we did see a rather large two sided move over the year ranging roughly between 1.25 – 1.50. We are expecting that range to hold for much of this year.GBP/USD:
The Cable managed to end the year about 20 cents higher than it started. So by definition it is trending up but we see a larger range from roughly 1.35 to 1.65 holding for much of this year. So we are biased to selling into major rallies early this year.
USD/CHF:
The Swissy managed to test the mythical “parity” level but quickly rallied after the brief test. We expect that level to be tested a few more times but do see it being defended in the long run. We are therefore buyers of major dips in this pair going forward.
USD/JPY:
This pair has seen some wild moves and much larger ranges than “normal”. That is mostly due to global rebalancing of risk and we are not at all yet complete with that process. So we are looking for that major theme to carry over into 2010.
USD/CAD:
This pair has been described as a “lost pair” by a number of market commentators. I don’t see it so much as lost as it is on a recon mission. This pair in particular has been leading the Dollars movement and probing relative new high and or low levels sometimes days ahead of the other majors. Keep an eye on this pair for clues about the Dollars overall bias.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Click here to join Derek’s Inner Circle and have his trade calls delivered to your computer or text message your phone in real time! These signals produced over 5,600 pips of profit for subscribers in 2009!
Click here to learn more about the next harmonic mentoring class.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
