Daily Market Thoughts from John Malin‏ for the EA

AUD/CAD
The price is oscillating on the 61.8 Fib line on the day chart.Since February 25th the pair has been on an aggressive run, long, withoutstopping for a breather. The last 6 days has seen the price hold on this fibline. Look for further oscillations.

AUD/USD:
This pair continues in it upward trend heading for the 200moving average on the day chart at 0.7350. Currently the price appears to beoscillating on a strong resistance line at 0.7275 where it has tried tobreak thru once before. The pair is attempting to climb out of its low sinceits dramatic drop last July. Look for oscillations as both the 200 ma andresistance line may well keep the pair from moving much further withoutmajor news coming out on the pair.

Euro/Aud

The price is also oscillating on the 61.8 Fib line on theday chart. Since March 19th the pair has been on an aggressive run shortwithout stopping for a breather either. Looks like the Aussie is coming backwith revenge. As both the USD and the CAD have also oversold the Aussie,look for this pair to hold at this level for a while. On the 4 hr chart theprice is currently holding on a support line created 3 days ago. All 4 hrand day moving average indicators are above the current price so look forprice to consolidate to give the moving averages time to catch up.

Euro/Cad
Price is sitting at the 200 ma and has dropped sharply sincethe 3rd of April. The price seems to be consolidating at the price point, asit is an area previously of both support and resistance since February 18th,and like many other pairs is at the 61.8% fib on the recent price activitysince
November 2008.


Euro/CHF

Price is holding on the 38.2% fib line and the 89 ma andlooks to continue to consolidate at this level for only a short whilelonger. The day chart is holding the price at the 89 ma and the 4 hr chartis supporting price at the 200 ma. Price has been oscillating within a verysmall range for almost 2 weeks now so look for it to possibly move back upto the 50% fib at 1.5330

Euro/GBP
Price has been running in a short trend for almost a monthand is closing in on the 50% fib on the day chart. Price is also approachinga strong support line at 0.8760. Look for it to consolidate near this pricepoint.

Eur/USD
Price is weaving between the 89 ma and the 200 ma on the 4 hr chart,and is consolidating on the 89 ma on the day chart, which is also the 23.2%fib on the day chart. Look for news to make this pair move in one directionor the other.


GBP/USD
The price is once again challenging the physiological 1.500 pricepoint for the 6th time since the 2008 route of the GBP. Coincidently (ornot) the 23.2% fib is also at the same price point. Until this pair decidesto settle around this price, be very cautious.

USD/CAD
Price has retraced back to the 38.% fib line and is half way betweenthe 89 ma and the 200 ma on the day chart. It may be wise to once again waitfor a consolidation before attempting this pair.

USD/CHF
Although there were some big moves recently, the price seems to beconsolidating as the 13 ma, 50 ma, 89 ma and 200 ma are all coming togetheron the day chart. I would expect it to consolidate for a little whilelonger, unless news creates a direction. Price is between fib lines.

Daily FAQ,
What Pairs are best to Trade The best pairs to have on the EA can change according to market conditions.The Aggressive strategy works best in a choppy (oscillating) market. Thiscan be best detected by reviewing your 4-hr charts and your 1-day charts. Ifyou see the candles moving away from a faster Moving Average lines (such asthe 8 or 12MA), then it is not Oscillating, it is trending. Most all the main pairs with exception of the JPY pairs work well,expecially using timed entry in off hours.