World Clocks

Thursday, June 14, 2007

June 10-15 Bull Trend Continuation

This week the USD has continued its gain against 3 pairs I'm watching.

  • USD/JPY - Bullish stable, fairly strong
  • GBP/USD - Bearish weak, upside move yesterday failed.
  • EUR/USD - Bearish weak, not as weak as Pound but moving in same direction.
Like 2 weeks ago, the trend has continued to move USD positive with the Yen at near 4 year highs. This weeks news were all favorable to the dollar, moderately weak PPI and long 10 year treasuries gaining to push the USD even further.

As for system portfolios and baskets, we've been profitable this weak and should finish tomorrow with good gains. The small drawdown from last weeks collection was all returned. From this weeks performance, particularly the Yen, we know now that last weak was just a minor correction. We'll have to see if a major correction for the Yen and Yen pairs is in stored since we're in extremely high levels.

The British pound has made attemtps to turn bullish, but the pause in rate hikes last week put an end to any follow through. We're stuck at the 1.970 levels and not going bullish till after 1.9770 or 1.9890 is taken out with momentum. Still holding a long positin from last week. We'll keep this position till the trend turns bullish. It appears that 1.9630 is the temporary major support, at this point we're definitely in a range.
Posted by Seaducer67 at 6:54 PM

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