USD strengthening − Will this continue?

Pierre Charlebois from Trading Metro at 12/14/09

The shape of the top on the EUR/USD is unorthodox and not typical. However the move down at this point is strong and impulsive. The next few weeks should be volatile and provide longer term direction.

USD Index - The move up is typical of a reversal - Let's observer where and how a re-trace happens.

EUR/USD - Top is unorthodox but the drop is strong

GBP/USD - Trend-line is broken

USD/JPY - Trading in a very large channel

USD/CHF - Re-trace coming due

AUD/USD - Hard to call a top here

NZD/USD - Also in limbo

USD/CAD - Very narrow range - Which way will it break?

EUR/JPY - Still in long term range