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I still see a better entry for USDJPY in the 117.33 area. The JY futures contract hit my sell area of 8606 but I did not enter since spot still needs to resolve the 117.33 area. I may be sorry. Funny how they can always find a news event to explain a directional move. DRT 09:42 USD/JPY...

This is somewhat interesting. The study below is a median channel with 2% boundaries stretched from the two peaks made in late 2004 early 2005. If you look closely, you will see that the pair is attempting to regain that original channel. It tried previously and was rejected. The close up of...

Which end of the horse does it look like?

Recap of EUR(EC) trade. Avg short 30 EC contracts at 2771. Close at 2790. Down 19 ticks per contract or -$7,000. The surge thru the 2720 spot midrange area held up a built value above. If we move back down to 2720 spot I will likely cover this trade and wait as this could be the...

This could go down as one of the most proflific range battles of all time....

I can kind of feel the hum in the EUR traders around the world. Here we are at the first day of the last quarter of the year. The EUR is supposed to go to at least 130. Many of the big boys still heavily long, those that weren't sure are jumping back on board. Hedgies busily making calculations...

We are nearing a possible buy area.

I am short 20 EC at 2766. Very risky though. I added 10 more at 2783.

I will try to get the USDJPY thoughts posted later in the session. Right now I see a better long entry down near the 117.33 area. If we break to the top now, next stop is 118.84 and 119.10 area.

Currency Strategists: Citigroup Says Exit Canadian Dollar Bet By Haris Anwar Oct. 2 (Bloomberg) -- Citigroup Inc. advised exiting a bet that the Canadian dollar would gain against its U.S. counterpart, saying the currency is ``overvalued'' given speculation the Bank of Canada will cut...

1974 was a very good year...

Loonie Bin.....

USDCAD The short term range on CAD is 1320 to 1110. WIth 1250 coming in as the midrange. I see a good long entry at 1145/1155 on a move back down. Be cautious here and look to play a trade up to the midrange of 1250. Next target I have is 1.1303, but I would take profit or size out at...

Change is coming...

Home on the range...

EURUSD We are still contained within our value range of 2830 on the North and 2580 on the South. With the midrange coming in around 2720. The market will break from these levels. Which way is the question? I would also not be surprised to see us head in a particular direction this week...

Week of October 2... Here a dollar index update. As usual we are at critical mass DRT

I will get some updates in early tommorrow. Be very careful jumping on board the $ strength tonight. I see a possible test of the midrange or top of range could be in the works first. Take care. DRT

I have no bias when it comes to my trades from a "holding period" standpoint. I have held many traders for a few hours. Some through a couple sessions, etc. The key for me is not the holding period, but the acheivement of certain levels with the value curve. I don't care how short or long of...

Mephisto, I can not say that I have not thought that same thought. If you look carefully at the curve you will see pullbacks. These represent those times when I let my risk go way beyond where it should have been. The comforting side of this for me is that there are hundereds of trades in...