OIL's $2.00 RALLY IS NOT ENOUGH to break above the 84 trend line, which similar to last Wednesdays $3.00 rally when it failed the $86.40 trend line resistance. Despite a stronger than expected ZEW survey from Germany, Greece continues to weigh on the euro, which is down a full cent. EURCAD enters its 6th straight weekly decline, while todays 300-pip decline, gives back 9-days with of gains. Prospects of retesting the 1.33 are on the rise, but AUDCAD is the pair which will likely face deeper selling against the loonie as the uncertainties from Chinas monetary policy escalates further. GOLD capped at 1144hourly trend line resistance from Fridays1160 high, calling for 1128.
Comments