This week we have the Health care bill to contend with. The bottom line is like it or not we at least have some finality to this story and the markets can begin to focus on other things. We also have the PIGIS issue still very much in the news. Here too either way it goes we see a future with less uncertainty and that should be a good thing. One of the main things I have noticed in the last few weeks is the fragmentation of the FX markets. In months and years past one could more or less say you are buying or selling dollars against any of the majors. But lately I have seen the markets shift. For instance I am now buying Dollars against the Canadian while at the same time selling them against the Euro. I will be giving a special webinar next week so do not miss it… http://forextradersdaily.com/InnerCircle/rb.html
EUR/USD:
I am a buyer of major weakness in this pair this week. As more info about the situation in Greece becomes known I expect to see the Euro rally. The only sure thing is that Greece is not going to sink into the Aegean.
GBP/USD:
The Cable remains the whipping boy for the PIGIS but here too we are buyers of major weakness.
USD/CHF:
I am looking to sell this pair this week on rallies north of 1.06.
USD/JPY:
This Pair is a buy on Weakness. This week I have already bought it for my Inner Circle members below 90.
USD/CAD:
This pair is now a buy on weakness. There is still a risk or a run at parity but if that comes I will buy with both hands.
AUD/USD:
This pair remains very strong. I am not interested in chasing it higher nor fighting it so for now I will trade elsewhere.
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