Weekly Currency Report

The folowing is an excerpt from O&F News & Views weekly newsletter

EUR/USD: What a move this week! After starting the week at a new low we managed to rally over 200 pips. Early next week I expect to see some consolidation of this past weeks rally but by late next week we could see a move towards 121.50.
USD/CHF: Got stopped out early and then sold short again on the move back below 132, trailing stop by 50 pips as of today.
GBP/USD: I am still long from late last week at 174 with current stops just below 175.00.
USD/JPY: I covered at 116 and am still flat since then. I am working a buy stop at 117.20.
AUD/USD: Got the bull confirm I was waiting for and am now long from 7450 with stops just below 7400.
USD/CAD: Got stopped out of my long here and have not touched this market since. But near term I continue to favor the bull side.
Derek Frey
Odom & Frey Futures & Options
866-636-6378 Toll Free
904-247-0232 Intl.

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