Dollar 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 looks poised to resume its downtrend out of a pullback (flag) from
lows. This suggests that the inverse currencies will head higher. With that
said, the June Euro
(
ECM2 |
Quote |
Chart |
News |
PowerRating) and Swiss Franc
(
SFM2 |
Quote |
Chart |
News |
PowerRating) look most
interesting to me.
July beans
(
SK2 |
Quote |
Chart |
News |
PowerRating) look like they have the potential to rally out of a cup-and-handle-like formation.
Follow Up
June hogs
(
LHM2 |
Quote |
Chart |
News |
PowerRating), mentioned recently, got creamed on Tuesday. If you
have profits here, you might want to lock in a piece.
Best of luck with
your trading on Wednesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!