Dollar Remains Vulnerable
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.
The dollar, mentioned recently, still looks
vulnerable. Therefore, continue to look for buying opportunities in the inverse
currencies. With that said, the September Swiss Franc
(
SFU1 |
Quote |
Chart |
News |
PowerRating) formed a
bullish outside day pullback on Tuesday. The September
Euro
(
ECU1 |
Quote |
Chart |
News |
PowerRating) also looks poised to rally out of a pullback.Â
November soybeans
(
SX1 |
Quote |
Chart |
News |
PowerRating) look poised to break down out of a topping formation. Look for a
shorting opportunity here.
Follow Up
If you took any
index related trades (mentioned Monday night), you might want to lock in a piece
after such a strong down day.
Best of luck with
your trading on Wednesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!
Â