Forex Daily Podcast - Monday, January 23, 2006

The EUR is fast approaching our 1.2350-1.2400 target. We should see a period of consolidation across all the currencies early this week. We don't see any obvious trades unless you want to trade a correction against the big moves on Friday. Don't be greedy as you will be trading against the short term trend. Look for pullbacks as opportunities to enter in the same direction as the move on Friday. The EUR currently trades at 1.2273. The GBP currently trades at 1.7826. The CHF currently trades at 1.2606. The JPY currently trades at 114.26 The CAD currently trades at 1.1503 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