There was a roller coaster of action in currency markets last week and all my intra week signals flipped once again. In some cases, long term trends reestablished themselves, and in other, new trends seem to be emerging. Here are the trend signals for the close of last week:
- AUD – STRONG UP
- GBP – RANGE
- USD – STRONG DOWN
- EUR – STRONG UP
- JPY – DOWN
- CHF – RANGE
I feel a lot better about my long EURUSD position now. :) Along with common sense, my models still forecast a DOWN trend for the dollar but we must remain vigilant. Intra week flips could mean two things: it’s just noise or some significant levels were reached and reversals are possible.
Check out Howard’s take on the woes of the USD. He usually has good insight. :)
[tags]AI, Neuralnets, Forex, Currency, Euro, Dollar, Pound, Yen, Swiss[/tags]
usually :)