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November 28, 2006

Currency picture reviewed by Twiggs, Tues., Nov. 28, 2006, 6:52 AM

The Incredible Charts Wizard says that, after the Euro has rallied to $1.31.45 dollars, in the short-term there may be a pull-back to test the new trading range support at $1.30, while in the medium-term there is likely to be a test of $1.37.

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The implication is that precious metals and crude oil prices are lkely to lift.

The January 2007 Crude Oil ($60.76) appears headed to a test of the technical resistance of $63.00.

Posted by Posted by Bill Cara on November 28, 2006 06:52:16 AM | Category: Forex

Discourse

Posted by: DollarBill [TypeKey Profile Page] at November 28, 2006 9:25 AM [link]

Although the spin is pointing to weak aircraft orders, just look at CAPEX. Is it coming to the rescue with numbers like that? Thought not.

The Bulls have switched the "rescuer" to non-residential construction. But that just trails residential by 4 to 5 quarters. Since residential topped about August '05, it should start dropping right about...... NOW.

Posted by: MarkM [TypeKey Profile Page] at November 28, 2006 9:42 AM [link]

$USD down across the board today vs. ALL 14 currencies listed on ADVFN. Euro over 1.32 now.

Gold still playing with the 640 resistance. May have to wait for next week when ECB raises.

Silver spiked right after the close to 11.70.

These are interesting times.

Posted by: Seamus [TypeKey Profile Page] at November 28, 2006 4:14 PM [link]

Correction to prior post: Silver spiked to 13.70 after the close.

Posted by: Seamus [TypeKey Profile Page] at November 28, 2006 4:18 PM [link]

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