Tuesday, May 31, 2011

EUR/USD hits target of 1.44

The EUR/USD did indeed hit the Monday trading target of 1.44. It's churned sideways since then, but is still currently trading just over 1.44.

I'll have more analysis of the EUR/USD, but for the short term, I'd like to look at a couple of other securities...

GC (the gold futures contract -- or YG for the emini), and
USD/JPY forex pair.

Obviously, both of these securities are in places where one would *think* that fundamentals drive their price action, but I'm going to approach these two from strictly a technical, cycle driven perspective. Look for each of these in my next two posts.

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