as long as inflation is high in euro (it currently is ) the euro will always go up.although i dnt expect a rate hike for the euro come next week a rate hike in the next ECB ( euro central bank)meet is as sure as the rising sun...
i will definately not short the euro anytime soon..

So far the AUDUSD has played as I expected. It managed to get to a high of 1.10. I likely suspect that is it for the year.
EURGBP has retraced all the way back to 0.9000. It has always been a good sell candidate above this level.
Now I'm also hoping EURUSD can get above 1.5000 in the next bullish run.
AUDCAD almost took out 1.05.

What I'm looking for going forth this Q2 2011...

AUDUSD - 1.10 - 1.11 --> If we get to these levels with the DXY index making new lows but the weekly RSI diverging upwards, I'll start shorting.
AUDCAD - 1.04 - 1.05 --> Depends on the AUDUSD pattern. But this one will be my large monthly trade, I expect it to swing down to 0.95 - 0.97 on the short side. It tested 0.97 during the Jap quake and it will break it on the next down swing.
EURGBP - 0.9x levels have always been good selling points. If it can get above 0.95xxx I'll be short - weekly trade. Largely depends on EURUSD getting above 1.5 to 1.55 levels.
EURUSD - same analogy to AUDUSD. But not my preferred trade. Will likely trade it if we get to spectacular eurozone defaults. Trading this ugly pair is not attractive to me i.e. fundamentally both economies are in dogs... Almost like choosing a less painful punishment... It's still a punishment...

Note: The DXY index is oversold on the weekly chart. Downward pressure still persists for some few more weeks, before the reversal. Daily charts, suggest a minor bounce.

I am also watching USDJPY as it traces all the G7 intervention gunpowder. If the G7 cannot successfully intervene in FX, then BoJ is utterly hopeless. But the Bankers (note B is capitalized i.e. money printers) are not to be defeated that easily and I expect another explosive intervention attempt at 80.00 or below this spot level. This is to flush out and teach a stoploss lesson to those pesky short sellers from messing with the USDJPY cross as per the money masters wishes. This happened many times with EURCHF with SNB. But since BoJ is know for yen interventions, it will take several successful shorting attempts, before BoJ gives up...


As for silver. Well 11% down is less than an hour yesterday says what to expect when prices go bonkers aka parabolic... Such crazy upward moves are swiftly retraced?! I hope the price gets back at 35 or below for the next buying opportunity.



update - forgot to mention USDCHF has achieved the 0.86 - 0.87 target. Should also bounce.

Euro plunges on ECB decision to hold rates, contrary to hawkish expectations of some players. EUR/GBP down 200 pips after temporarily crossing the 0.9 level. Lucky to have caught 100 pips of this( trade still on, hope the plunge continues)thanks to my late entry. once again gratias Hisah for pointing this out.

EURUSD - 300pips down and plunging...?! Stoploss aka ulcers central...