Forex Daily Podcast - Monday, January 16, 2006

We are still looking for the EUR to move up to the 1.2350 levels. The EUR currently trades at 1.2125 and has to break 1.2180 in short order to continue the most bullish interpretations. The GBP should still be moving up to the 1.7900 and above levels, we would like to see an immediate move up to stick with our most bullish interpretation. The GBP currently trades at 1.7664. We are looking for the CHF to drop to the 1.2640 level and below. The CHF currently trades at 1.2793. The JPY broke the 114.88 high, but had very little follow through. It should try for the 115.44 level once it drops a bit. The CAD looks weak right now. We locked in our profits and exited the trade in Friday's volatility. We'll continue to watch this one. The CAD currently trades at 1.1589. 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