Dollar Index Still Looks Strong; T-bonds & Notes Forming Bottoming Formations

Comments for Friday, April 16, 2010

Looking Ahead to Today by Reflecting Back at Thursday’s Price Action


Higher closes yesterday for the Japanese Yen, British Pound and dollar index while lower for the Canadian and Aussie Dollar with the Euro Fx and Swiss Franc but no changes technically . The euro continues to be in a down-trend and is also in a resistance area but still gave me a buy signal on Tuesday. The franc is also showing a possible bottoming formation trading near the higher end its range over the last month but can’t quite get over the hump. Therefore, I’m standing aside for now.

The yen settled slightly higher once again making its highest close in two weeks also again but still is in a down-trend with some resistance around the 1080 area but really very little up to 1100 basis the June contract. The Canadian Dollar settled lower continuing to be in a strong uptrend overall. The pound made its highest high and close since February 22th continuing its gradual move higher . The Aussie also settled down this time but also is in a strong uptrend while the dollar, although closing higher, looks very toppy and needs to make a push soon or it could slide back into a downtrend. BUY SIGNALS FOR THE DOLLAR INDEX, BRITISH POUND, CANADIAN AND AUSSIE DOLLAR ALONG WITH THE EURO FX. CALL FOR DETAILS!

Swiss Franc Chart

U.S. Dollar Chart


Slightly higher closes on Thursday for the Eurodollars, notes and bonds but no changes technically. The Eurodollar still has its TRIPLE TOP in place but I’m staying neutral until it breaks out of its sideways pattern since late February in either direction. The notes and bonds are in nice looking bottoming formations and should continue higher overall if my signals are good. BUY SIGNALS FOR THE NOTES AND BONDS. CALL FOR DETAILS!

Treasury Note Chart

Treasury Bond Chart

Read the balance of my morning comments, including the Metals, Softs, Energies and Grains, at my website. For my complete coverage, visit my commentary page at

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 ( a Chicago-based futures brokerage firm. If you would like a free booklet explaining the charts mentioned above, email Rick at

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.

Backtested on over 17,000 trades test this new trading indicator for Leveraged ETFs and find high probability setups daily – click here now.