Thursday, December 11, 2008

Close Trade 2 - Long AUD/USD



AUD/USD got stopped out for a loss of 40 pips. The initial move up broke through both the resistance at .67 as well as the descending trendline from mid-October.

It's looking pretty weak right now.

EUR/CHF is a bit of a channel down with choppy action.

EUR/USD looks strong. A pullback to 1.31 would be a great place to buy.

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