Dollar Breaking Down
Each evening we
focus on the most interesting aspects for the upcoming
trading day. The comments are based on observations of the
nightly updates of the Futures and Market Bias pages. They
are provided for educational purposes only and are not
intended to be direct trading advice. Also, keep in mind
that these remarks are made up to 12 hours in advance of the
markets opening. Therefore, overnight events may alter the
outcome of these observations.
There’s not to much to look at tonight (Wednesday).
The dollar, mentioned Tuesday night, appears to be breaking down out of a
flag. There may still be opportunities for breakout plays in the June Euro
(
ECM2 |
Quote |
Chart |
News |
PowerRating) and Swiss Franc
(
SFM2 |
Quote |
Chart |
News |
PowerRating)
(mentioned Tuesday night).
Follow Up/Looking Ahead
May feeder cattle
(
FCK2 |
Quote |
Chart |
News |
PowerRating), mentioned recently (see archives), sold off
hard on Wednesday. If you
have profits here, you might want to lock in a piece.
The June crude oil complex, mentioned recently, still looks vulnerable. Wait
for setups though.
Best of luck with
your trading on Thursday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!