Weekly Wrap Up 22/01/2012

Hello traders and welcome to this weeks trade wrap up. The past week has seen risk appetite continue to improve. I attempted a long position trade in the USD/CAD during the week. Didn't work out so well and it put me about 27 pips in the red. Not a good start to the year!

Still stalking the AUD/USD daily waiting for that reversal signal to hit. In the midst of all the risk-on sentiment, it has finally managed a small break of the upper downward sloping trendline from its historic highs.

Lost of room for a downside movement if this resistance holds.

Looking at the EUR/USD, the single currency had a nice corrective move this week. Early into the new week, there looks like a possibility of one more leg up. If I get a clear trading signal, I will go long in the Euro. Can't find the weakness in the USD at the moment.