Forex Daily Podcast - Monday, February 13, 2006

We finished the week strong with another good day on Friday, the JPY continued lower stopping just above our 116.70 target allowing us to get back in for the ride up. The EUR, GBP, and CHF all retraced before continuing towards a stronger USD. We still continue to favor a stronger USD across the EUR, GBP, and CHF. We are hoping for some corrective moves here on the EUR, GBP, and CHF so we can get better entries towards a stronger USD, but the USD looks strong right now and that might not happen. The EUR currently trades at 1.1885. The GBP currently trades at 1.7382. The CHF currently trades at 1.3090. The JPY moved down to just above our target area which was close enough for a nice trade up on Friday. Ideally, we would like to see an impulsive move down from current levels to provide us with a good entry point for the next move up. The JPY currently traces at 118.17. As we said on Friday the CAD still looks like it's in a corrective move up and would be nice to see it get to 1.1630 area before continuing it's move lower. The CAD currently trades at 1.1568. Forex Currency trading is very risky, please read the disclaimer on our web site. Visit us on the web at www.elliottexchange.com or at forex.podomatic.com. Good Luck and Good Trading