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 June Yen
(
JYM2 |
Quote |
Chart |
News |
PowerRating), mentioned recently, still looks like it has the
potential to resume its uptrend out of a Bow Tie. Just wait for an entry, since
it was down on Wednesday.
The dollar looks poised to continue its rollover. This may provide
opportunities in the aforementioned Yen or in the March Swiss Franc
(
SFM2 |
Quote |
Chart |
News |
PowerRating).
May orange juice
(
OJK2 |
Quote |
Chart |
News |
PowerRating) looks like it has
the potential to resume its recent trend higher out of a cup-and-handle like
formation. Just use caution, ’cause O.J. will kill you.
Looking Ahead
May coffee
(
KCK2 |
Quote |
Chart |
News |
PowerRating), mentioned recently, appears to be correcting. It
could set up soon on a pullback.
The April crude complex remains in a strong uptrend and could set up soon on a
pullback.
Best of luck with
your trading on Thursday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!