G'day Boom and welcome to the world of HC FOREX.The relatively...

G'day Boom and welcome to the world of HC FOREX.

The relatively light trading over the last week or so of the holiday period is a bit of a head wrecker and can make T/A a pretty hard task, at least for myself.

At this stage, I reckon we have the possibility in the next few days of hitting .65 to the downside, which if this occurs will then give a fairly strong possibility of charging back up to .70 and beyond.

The pair is currently trading in a range delineated (wuff big word!) between .6900 odd and .6760 odd.

My thoughts are a break of .69 sees us to .71 and a break of .676 sees us to .65

Of some interest to me at the moment is the old fashoined cup and handle formation gong bac to early november then through to mid december for the cup and the current pattern from mid december to now and the new year as the possibility for the handle... this would be kinda cool, but these paterns are better in the middle of an up trend.

Although longer term commercial analysts are calling a drop of the pair to .5, and though I can see this as a possibility... I beleive that we will see .8 or so before we see the lower figure...

Soz mate, not a hell of a lot of useful info there, but once we have a little more action in the new year, I should be able to form a better picture.

;)