Friday, January 1, 2010


Finally I could not resist dipping in the markets in the low volume period. Am short EUR/USD and long USD/CHF. Though the low volumes are frightening, they are still following the daily trends. Already my positions are on the right side of the market.

I feel the move may be big, EUR could go down to 1.4100 before correcting. Early next week these targets may be achieved.

GBP is trying to go up in the intra day charts. It is hitting the daily averages now and may correct in the next week. May take three - four days to start a correction.

USD/JPY of course has been the star of the week. Not even a semi decent correction on its way up yet. That is the time to stay on the sidelines. It is very tempting to board a fast moving train, thinking the destination will come faster. But it may need a correction before moving further, if any.