Forex Daily Podcast, Thursday, December 8, 2005

Still waiting for a breakout for the EUR, but the CHF and GBP are agrueing for a weaker dollar in the short term. The best count we currently have on the GBP is targeting 1.7500-1.7800 over the next 1 1/2 - 7 days. The JPY should rise to the 120.60-120.80 level before selling off targeting 119.80 and below. It still should not rise above 121.50. The CHF should get a bit of a relief rally here before continuing lower. The CHF currently trades at 1.3100. The CAD should fall to the 1.1555 to 1.1500 levels. Look for an up trade at these levels targeting the 1.1750 area.