Friday, January 22, 2010

Friday Midday Update

I would use extreme caution shorting the Euro right now. For the last 36 hours it has had very little price break and has had more upside momentum on the swings than the other currencies. I would look for the next pullback zone from 142.40 to 142.65 to get short as I think it could quickly rally out of the top by taking out stops.


A lot of goofy swings as well, especially in copper today. I would be careful establishing any sort of long term postition today and would advise to take some profits before the weekend because it could get crazy going into the closes.

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