Monday, June 26, 2006


Entry order expecting a break above highs over the 116.60 market with a target 118.30.  This plays into major resistance and fibonnaci retracement levels.  Stop near 115.50
The Eur/Usd is trying to tempt me to trade this long yet I am not really comfortable with the FOMC meeting on Friday.  I am thinking of putting 100 pip entry orders both directions on the pair.  Expecting a significant move back to the top of the channel or a breakout.  It may remain flat all the way through Thursday.
Gold is relatively flat.  Watch for a break above 602 and then a move to 610.  A break above 612 watch for a move all the way to 635. The Aud/Usd is right near the 61% fib.  If this bounces and gold breaks it could be a major reversal all the way back up to .7600 or higher over the next month or two.  A break below could drop us to .7000. Short at .7250 with a stop .7380.  If it breaks up with gold through .7430, I will be more aggressive and get in long.
Watch the Usd/Cad.  Appears to be setting up for a bounce down.  Pivotal point.

Blake Young
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