Happy holidays to one and all! This week is of course Christmas, volume continues to fall making movements more erratic than usual in many cases. We suggest most traders take the next week or two off and enjoy the holiday. If you do trade continue to keep position sizes low. Do not read too much into any of the moves you see these two weeks either. Overall we see continued Dollar strength in the near term and are buying dips in the Dollar.
We want to sincerely thank each and every one of our subscribers and wish you a healthy and happy holiday season!
EUR:
The Euro did have a number of pushes lower last week, but ultimately failed to stay down. We are now becoming neutral this pair. We are expecting it to drift sideways for the most part this week within the already established range between 1.43 – 1.4450.
GBP:
The cable pushed through our target at 2.00, but has yet to find a solid support level. We see strong support near the 1.95 level so look for the market to bottom out near there.
CHF:
The Swissy has been consolidating the recent rally. We see continued sideways drift this week. There is an outside chance that the rally could push all the way to 1.19 but for the near term we see little if any directional movement.
JPY:
The Yen has now pushed through our target at 114. Near term we see the market establishing a new sideways range between 113-115.
AUD:
We did manage to catch a nice move off of the bottom last week. We are now flat this pair but again looking to buy any major dips we see.
CAD:
The Cad broke below parity as we forecasted. We see potential for this market to continue moving lower over the near term. We have little if any support levels until we reach the .9600 level. Bottom line here is simply look to sell rallies.
