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O&f Weekly Currency Report
O&F Forex Newsletter
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~ October 1, 2007 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~ General Market Comments The major theme for this week is a dead cat bounce in the dollar. While we are in no way bullish the dollar we do see it staging a dead cat bounce in the not too distant future. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~ Europe Euro, Pound, Swiss Franc EUR/USD: The Euro has seen a very strong run up past the 142. Last week we had
expected this pair to stall and form a bull flag pattern. We were clearly early in that call. We do expect the stall to come by the end of this week. Continue to trail stops on long trades but I would not chase this market if you are not already in. GBP/USD: The cable did finally take off as we expected and our target at 204 has been hit. We expect the market to test 206 soon but it should be choppy action that gets us there so be prepared for more volatility. USD/CHF: Much like the Euro, our call from last week appears to have been a bit early. We do expect this pair to stage a dead cat bounce this week and we will again put on some light long trades with stops below Friday''s low. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~ Asia Yen, Australian Dollar USD/JPY: This pair did in fact remain range bound between 114 and 116 last week as we
had forecast. This week we see this pair breaking out to the upside above 116 with a target of 118. AUD/USD: This pair also hit our target near 8850 and still looks strong. We should see a test of 9000 before we see a stall. Continue trailing your stops as a quick correction should be setting up this week. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~ North America Canadian USD/CAD: This pair continues to move lower although ever so slightly. We continue to
see a bounce back above par coming this week. Frankly though we see greater opportunities in other pairs this week. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~ Questions or Comments? Call us toll free: 866.636.6378 (or) Email the author directly: Derek@OdomandFrey.com ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~ Derek Frey Odom & Frey Futures & Forex 645 Mayport Rd. Suite 4 E Atlantic Beach, Florida 32266 toll free: 866.636.6378 international 904-247-0232 www.odomandfrey.com In This Issue European Pairs ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~ Odom and Frey Futures & Forex Call us today to speak with one of our NFA licensed Representatives to see what Odom and Frey can do for you! toll free: 866.636.6378 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~ Disclosure of Risk: The risk of loss in trading Futures, Forex and Options can be substantial; therefore only genuine risk funds should be used. Futures, Forex, and Options may not be suitable investments for all individuals, and individuals should carefully consider their financial condition in deciding whether to trade. Option traders should be aware that the exercise of a long options would result in a futures position. Past performance is not necessarily indicative of future results. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
~~~~ Discover how to enter and exit a trade at the very time the Forex markets move 50 to 280 pips in record time... [http://rs6.net/tn.jsp?t maker.com%2Fcmd.php%3Faf |
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