Happy New Year

Good Day Dynamic Traders

I hope you all had a fabulous time over the festive season and are now energised and ready for a fantastic 2010. Although I'm away, (enjoying 30 degree temperatures!) the beauty of trading is you can do it anywhere, anytime! I'm keen to see what will happen over the next couple of weeks.

Although I missed yesterday's MOBO opportunity with EURAUD, I was looking for a clear break of the RN/R level before entering. So I have placed an order on the low of yesterdays candle. There may well be a bounce up before a continuation, but confluences suggest price should continue south.

I am also looking closely at AUDCHF which I mentioned several times on the blogs at the end of December.














Price hit resistance around the 9470 mark again and retraced. However since Christmas, price has been fighting back with strength and is fast approaching the same resistance level. We may well have an inverted H&S, which would be a strong chart pattern for a continuation north. I'm awaiting a confirmation with a neckline/resistance BOB before entering a trend trading position. As we know, good trends continue to break resistance levels, but of course we could see price stumble at this level yet again. Let's wait and see what price does.

Other trades I'm looking at are EURNZD (similar to the EURAUD blogs both Bijal and Zaheer have mentioned) and Gold. Note, both NFP and unemployment news is due out this week.

Great trading!
Sonia Molina