Dollar Recovers
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
market’s opening. Therefore, overnight events may alter the
outcome of these observations.
Trader’s
Galleria has recently added more products. Check it out and pre-order my upcoming book on swing
trading at a 20% discount while you’re there (No shame is my middle name).
January feeder cattle
(
FCF1 |
Quote |
Chart |
News |
PowerRating), mentioned recently, still looks poised to
resume its strong uptrend. Look for a buying opportunity here.
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The dollar stabbed lower but recovered to close well on Monday. This suggests
there may be shorting opportunities in inverse currencies, such as the December
Euro
(
ECZ0 |
Quote |
Chart |
News |
PowerRating) and Swiss Franc
(
SFZ0 |
Quote |
Chart |
News |
PowerRating).
December bonds
(
USZ0 |
Quote |
Chart |
News |
PowerRating) continue to find support at par and change. In
addition, they have formed a high level cup-and-handle-looking formation. Look
for a buying opportunity here.
December copper
(
HGZ0 |
Quote |
Chart |
News |
PowerRating) is now in day two of its pullback from lows. Look
for a shorting opportunity here.
Best of luck with
your trading on Tuesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!