Dollar Remains Constructive
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.
March copper
(
HGH2 |
Quote |
Chart |
News |
PowerRating) is forming a flag after recently breaking
out. This action suggests its uptrend remains intact.
The Dollar stalled out in its rally out of a pullback but remains
constructive. Therefore, continue to look for possible shorting
opportunities in inverse currencies such as the March Swiss franc
(
SFH2 |
Quote |
Chart |
News |
PowerRating), British pound
(
BPH2 |
Quote |
Chart |
News |
PowerRating) and the Euro
(
ECH2 |
Quote |
Chart |
News |
PowerRating).
Looking Ahead
March cotton
(
CTH2 |
Quote |
Chart |
News |
PowerRating) remains in
base-building mode and could break out soon.
March sugar
(
SBH2 |
Quote |
Chart |
News |
PowerRating) is beginning to
bounce from its strong downtrend. It could set up on the short side
soon.
Best of luck with your
trading on Thursday!
P.S. Reminder: Protective
stops on every trade!
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