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Thursday, January 14, 2010

Can I get a retrace...

...but not a breakdown.

Data today brought a lot of see-saw action to the markets. Watching the other Majors had me feeling like a dog watching a tennis match. The Aussie showed much strength today, with rumors of the RBA sitting atop .9330 to "smooth" price action, not slam it. This is exactly the effect it had.

Now entering the Asian session we're seeing a little Dollar firming. No data should keep the session 'behaving.'

Stop moved with 34EMA 'low' to .9179

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