What’s Up, What’s Down: Spotlight on Currencies, Especially Swiss Franc and Japanese Yen
Comments for Tuesday, October 12, 2010
Looking Ahead to Today by Reflecting Back at Monday’s Price Action
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors.
CURRENCIES:
Higher closes yesterday for the Japanese Yen, Aussie Dollar and dollar index while lower for the Swiss Franc, Canadian Dollar, British Pound and Euro. Most of the currencies settled either slightly higher or lower near unchanged with no real changes technically. All of the currencies continue to be in uptrends with the franc in a BULL PENNANT, the yen making a NEW CONTRACT HIGH AND CLOSE although not by much and the dollar making a new recent low and settling higher in reversal type action. BUY SIGNALS FOR THE EURO FX, SWISS FRANC, AUSSIE DOLLAR, BRITISH POUND, CANADIAN DOLLAR AND JAPANESE YEN. SELL SIGNAL FOR THE DOLLAR INDEX. CALL FOR DETAILS!
Rick Alexander has been a broker and analyst in the futures business for over thirty years. He is a Vice-President for Sales and Trading at the Zaner Group (www.zaner.com) a Chicago-based futures brokerage firm. Email Rick at ralexander@zaner.com.
The information in this Report and the opinions expressed are subject to change without notice. Neither the information nor any opinion expressed constitutes a solicitation by Rick Alexander or the Zaner Group of the purchase or sale of any futures or options. Futures and options trading is speculative in nature and involves risks. Spread trading is not necessarily less risky than outright positions. Futures and options trading is not suitable for all investors.