I am looking at loonies pair. From the daily chart, it forms a pretty nice short setup. A lower high seems to be forming. Btw, this is a Heikin Ashi chart. And recent bullish momentum of USD seems to be flat out. Maybe market is just waiting for the interest rate statement on coming Wednesday?
So what is your take on this? Short? I have a short bias now.
[photopress:USDCAD10Dec2007.JPG,full,alignleft]
I am personally waiting for the Fed to speak up before searching for long-term USD-weakness positions in case there’s any surprise in the announcement. I paricularly like USDCHF.
Hector: Yup, I am watching USDCHF as well. Another nice short setup. But well, adopting my chicken style of trading, I am waiting until Fed announcement as well. 🙂
Cheers
Gav
I am personally waiting for the Fed to speak up before searching for long-term USD-weakness positions in case there’s any surprise in the announcement. I paricularly like USDCHF.
Hector: Yup, I am watching USDCHF as well. Another nice short setup. But well, adopting my chicken style of trading, I am waiting until Fed announcement as well. 🙂
Cheers
Gav
Chickens on the loose!
Chickens on the loose!