LOOKING AHEAD TO TUESDAY BY REFLECTING BACK ON MONDAY'S ACTION
Focus on Currencies.
The Pound is in a Bear Pennant. US Dollar still very bearish overall
CURRENCIES: 11/24/09 Higher closes for the Japanese yen and dollar index while lower for the Euro fx, Swiss franc, British pound, Canadian and Aussie dollar. The euro and franc continue to be in long-term up-trends both in choppy markets but acting like they will continue higher overall at this time. The yen settled slightly lower after making its highest high since Oct. 9th again still acting like it will test its October highs relatively soon. The Canadian dollar settled higher still in an uptrend overall with support under 9400 basis the December contract but needing to close over 9600 to help verify a continuation of its move higher. The Pound and Aussie dollar also settled higher still is in uptrends overall but the Pound has been acting toppy and is in a BEAR PENNANT while the Aussie dollar has been making higher highs and lows. The US Dollar settled lower at least holding its own over the last three weeks but still very bearish overall.