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Quote from FXAnalyst:

Sold EUR/USD at 5572 with 25 pip stop and target of 5505ish.

EUR/CAD seem like it could be done at 5870 area and worth risking a 40 pip stop for about a 100 pip target for those willing to risk trading against larger trend.
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I was stopped on EUR/USD barely and re-entered to collect 11 pips then as expected it rose again to above 5595 so re-entered again and hold for 5555 or lower depending on the pattern.

I exited the EUR/CAD partially at 5854 and hold the rest, ready to move stop to 0 with another drop. Stop is currently closer than 40 pips mentally and literally remains at 40.
 
June 11 (Bloomberg) -- The slumping Canadian dollar may get a reprieve as the Bank of Canada shifts focus from economic growth to fighting inflation.

The currency rose against its U.S. counterpart yesterday for the first time in eight days, snapping the longest slide since 2005, and rallied versus the euro and yen after central bank Governor Mark Carney unexpectedly kept the target interest rate on overnight loans between banks at 3 percent. All 30 economists surveyed by Bloomberg expected a reduction.

``It's very clear that the Bank of Canada's inflation assessment has shifted,'' said Jens Nordvig, a strategist at Goldman Sachs Group Inc. in New York. ``The bank seems to be firmly on hold for now. The U.S. dollar will have a harder time to significantly break higher in the near term as the market digests this shock.''

By Eric Martin

June 11 (Bloomberg) -- U.S. stocks retreated for a fourth day, led by banks and railroads, on speculation faster inflation may force central banks around the world to raise interest rates.
 
AUD/UsD is nearing a bouncepoint approaching 9300. If it hits that in the next 2-3 hrs then a buy attempt for a swing up is worth trying. Or it could fail to drop more and climb now in which case a confirmed intraday trend would need to be established. Target is about 9400 +.
 
June 16 (Bloomberg) -- Canadian Finance Minister Jim Flaherty signaled the world's eighth-largest economy is gathering enough steam to recover from a slowdown without the need for policy makers to take further action.

Tax reductions already are providing a boost to the economy this year equal to 1.4 percent of output, Flaherty said in an interview in Toronto today. The Bank of Canada said last week that borrowing costs were ``appropriately accommodative'' following four interest-rate reductions since December.

``The stimulus will help the economy continue to grow in Canada this year, so I'm comfortable with that,'' Flaherty, 58, said after a ceremony to open a science conference. ``We anticipated slower economic growth this year, we're experiencing it and the stimulus was designed to help counter that.''
 
June 16 (Bloomberg) -- Finance ministers from the world's richest nations face another week of inflation headlines after signaling concern that the global economy risks a dose of stagflation as commodity prices soar.

Officials from the Group of Eight ended talks in Osaka, Japan, on June 14 by saying record fuel and food costs threaten to spur inflation. They also pose a ``serious challenge'' to growth, eclipsing the credit squeeze, the ministers said.

``Commodity prices have powered ahead of the financial crisis to become the number one priority of international policy makers,'' said Marco Annunziata, chief economist at Unicredit Markets and Investment Banking in London. ``Stagflation is clearly the underlying, unspoken concern.''
 
Note there is a reversal looming that could occur anytime soon for the AUD/NZD, at 2700 or just over, probably well within the next 24 hrs. target will be 75- 100 pips depending on how the pattern unfolds. A good sell opportunity might happen twice as the first reversal drops then gives in to another rise for a near double top or slightly higher so will watch for repeated opportunity over the next few days. With the large rise of about 1400 pips near a stall point the trend is about to end with a bend.
 
E/J looks ready for a swing, short at about 169.40-50 probably good for about 50 - 70 pips depending how the Elliot Wave pattern unfolds.
 
E/J was exited at 168. 96 on partial and 168.62 on the rest.

I'm now in a small position buy for a quick trade at 168.05

AUD/NZD didn't quite hit target of approx. 2700 but is still expected to likely reach there as a probable sell opportunity of significant swing proportions...

USD/CHF is low and worth watching for a bounce up from the 0250 area.
 
Commodities Rally as Fed, Energy Costs Revive Inflation Concern

By Millie Munshi and Pham-Duy Nguyen

June 26 (Bloomberg) -- Commodities rose to a record, led by precious metals, energy and grains, on increased demand for raw materials as a hedge against accelerating inflation.

The UBS Bloomberg Constant Maturity Commodity Index rose 2.2 percent to 1,676.89 at 12:49 p.m. in New York after earlier reaching a record 1,680.93 today. The index gained 49 percent in the past year as corn and crude oil doubled to their highest ever. Eight of the commodities rose more than 50 percent over the past 12 months, including wheat, cocoa and natural gas.

Gold today surged the most in 16 months, oil rose near a record and corn jumped to the highest ever after the Federal Reserve yesterday kept the U.S. benchmark interest rate at 2 percent. Still, policy makers acknowledged heightening inflationary expectations. An OPEC official said oil may reach $400 a barrel should an Iranian conflict ensue.
 
U.S. Stocks Tumble, Sending Dow to Worst June Since Depression

By Michael Patterson

June 26 (Bloomberg) -- U.S. stocks tumbled, sending the Dow Jones Industrial Average to its worst June since the Great Depression, as record oil prices, credit-market writedowns and a slowing economy threatened to extend a yearlong profit slump.

General Motors Corp., the largest U.S. automaker, plunged the most in three years as Goldman Sachs Group Inc. advised selling the stock and crude rose by $5 a barrel. Citigroup Inc. led the KBW Bank Index to an almost 10-year low as Goldman said the lender may report an $8.9 billion second-quarter charge and cut its dividend. Research In Motion Ltd., maker of the BlackBerry, posted its biggest drop since 2001 on concern competition with
 
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