OK so my near term analysis is this:
Oil has formed a double bottom break of 50-65 is confirmation. I say its plausible that an uptrend will occur to around 90 area. This is based on the fact that Both CAD (oil based) and EURO (inflation based) currencies are beginning to consolidate and look to head north in the near term (coming month or two).
I took a USD/CAD short position @ 1.2490 on Friday, held over the weekend +176.
now my key levels to watch are:
Euro: 1.3100
USD/CAD: 1.2250
Swissy: 1.1400
Eur/Yen: 117.00
USD/Yen: too messy for me right now
Cable: This is interesting. The UK is currently up shit creek without a boat (worse than being there without a paddle). Waiting to see how things play out on their part before I take anything. Plausible that enough selling of the USD on any cross will cause cable to gain strength.
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