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Strategies & Market Trends : Classic TA Workplace
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To: Patrick Slevin who wrote (141352)2/17/2007 8:11:36 PM
From: John Pitera  Read Replies (2) of 209892
 
I am extremely bullish on the AUD over the coming 4 months and the coming 12 months. When you look at the past 2 years or so on the daily and weekly charts it is in an ascending triangle with a flat top at the highs and rising lows. It is a very bullish situation. The Looney is at resistance at the momentum over the coming week or two. I'm actually slightly short as of late friday, but have a tight stop 50 points over the spot close, and I'm not looking for more than 2 cent drop, it's also part of a matrix to pick up a bit more long buck exposure. I like short EUR/CHF over the next few weeks.

what are the AUD, NZD and Krona ETF symbols.

I am bullish on Gold and silver in the bigger picture, will take a new look at the charts. Dennis Gartman has had a position trade of long gold versus crude and I agree with that idea.

The Canadian dollar looks kind of toppy and distributive, like distribution is going on when looking at the weekly but that could take months to play out. The JPY is also very interesting. strong GDP numbers there the last few days and so they will start to raise the Central Bank short rate there. Global carry trade ramifications will occur when they really do get to tightening their monetary policy.

John
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