Tuesday, January 10, 2006

Quick scalp or long trade watch

For the aggressive scalper, you may be interested in jumping into the USD/CAD short for a 20 to 30 pip swing in an hour or so.  For the more conservative longer-term trader, watch for a close below 1.1600.  Remember this could be volatile due to Canadian elections.  I am still pro commodity-based currency pairs, such as the USD/CAD short and the AUD/USD long.  With a little push post elections, I would not be surprised to see the USD/CAD got to 1.1400 easily if not down to 1.1300 over the next 2 weeks.  Keep an eye on these commodity currencies

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