Friday, October 29, 2010

Friday

Well GDP numbers came in OK and now we wait for PMI and consumer sentiment.
While the indices still look bullish but resting it is interesting to see how stocks and the dollar are moving in synch.  I think that the dollar can lead at turns and they could move together for several weeks before we see a correction in stocks.

I am watching this diamond top set up in EURUSD (4hr chart):



I am not expecting much follow through on moves today with big news next week (election, FOMC, NFP).
Have great weekends


Crude short 82.00 stop 82.30 PT 80.00
Crude closed 50% @3R 81.10 (+1.5R)
SILVER stopped out (-1R)
AUDCAD closed 50% @3R 0.9910 (+1.5R)

Open trades:
USDCHF long 0.9710 stop 0.9680 PT 1.00 - 1/2 position
EURGBP short 8860 stop 8890 PT 0.85 - 1/2 position
EURSGD short 1.8040 stop 1.8190 PT 1.7650 / 1.70
AUDCAD short 1.0045 stop 1.009, 1st PT 0.985 - 1/2 position

3 comments:

  1. EURUSD
    http://99ercharts.blogspot.com/2010/10/eurusd_29.html
    Have a great weekend, Nic.

    ReplyDelete
  2. USDJPY
    Double Bottom and backtest of Falling Wedge.
    http://99ercharts.blogspot.com/2010/10/usdjpy_29.html
    Enjoy the weekend! "POMO"

    ReplyDelete
  3. EURGBP, its a nice weekend.
    enjoy much.

    ReplyDelete