Tuesday, December 27, 2005

Nowhere and fast...



Let's have a look at the $DXC today in a daily time frame just to remind ourselves where we've been and where we are likely going... have a close look at momentum, another stand-in for volume in FX markets, and tell me what you think is next. I imagine we will pay lipservice to 90.70 and 90.50 (again) on the way down, and these may make good interim targets. On the other hand, HIA flows have 3 days to run: in case some "last minute shoppers" try to squeeze through the door, you may want to give them room...

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