Market Commentary

Welcome to the brainyforex newsletter special commentary.

Market Update 9 December 2009

US Dollar daily chart 8 December 2009.

As seen from the above chart the US Dollar is reaching for the natural square level of 77.00. This will means that pressure is placed as follows;

Bearish pressure for AUD/USD, EUR/USD and GBP/USD.

Bullish pressure for USD/JPY, USD/CAD and USD/CHF.

For best trading results, sell (enter short) the rallies for AUD/USD, EUR/USD and GBP/USD. And buy the dips (enter long) for USD/JPY, USD/CAD and USD/CHF.

EUR/USD has now fallen under the natural square level of 1.4800. This means that it will present an excellent area to enter a short position when it rallies towards that level. (1.4800 should now act as heavy resistance).

Regards
Fritz
www.brainyforex.com