Currency Market Video Update December 9, 2009
The Euro and Franc have fallen significantly against the the US Dollar. Initially the the Yen had fallen as well but has since recovered and may continue to strengthen. The "Risk Trade" seems to be falling apart as currency traders race for the safe haven of the US Dollar and Yen. The commodity currencies of Australia and Canada failed at resistance but have found support and will likely remain range bound in the near term. Currency Technical Analysis helps us assess the market direction and time entries, exits, and position sizing. Next update will be Monday December 14th.