Tuesday, April 25, 2006

Cad holding support

The Usd/Cad has not broke the lows yet but I am still short the Usd/Cad expecting a break below. I commented that I shouldn't enter that Usd/Zar trade as it was too closely related to gold and sure enough I was right. I should listen to me instead of make poor trades. Over all we didn't move much today about 1/10th of 1% down for the day with tightened stop losses.

I have been waiting for a reason to get back into the Eur/Usd long, the break above highs for the past 7 months was a good enough reason but I entered in the trade long.

I believe gold and silver are finally shaking off the volatility and are poised for a move. I will be willing to take trades on gold and silver again tomorrow. Expectations of gold moving about $640 for a buy are in my sites.