Week 4 Jan 25 2009 Fed Week at the Forex

• Remaining shorts from previous week have been covered today. It's possibly a little too early to exit, but we certainly are entering key support.  We're almost where we left off from the beginning of the week with the USD seesawing from bear to bull in a span of 5 days.
• It remains to be see whether momentum through the weekend and early next week can breach approaching support.
• This month can be summed up as a continuation of the bear move that started last month. The USD has stayed strong against most of the majors because the uncertainty that the markets can't and may not shake off in the near term.
• Though not 100% correlated, the equity markets and sentiment will determine when we have a true reversal with EURUSD. For now it's selling the rallies, and if we do have a pop Long, it's taking the profits as soon as we have a bearish signal.  Overall, a great profitable month, 11 more to go.