Greenback Bounce Back
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.
On Monday, the Dollar reversed much of Friday’s losses. This action
suggests that its longer-term uptrend remains intact. Â With that
said, the December Japanese Yen (JYZ1),
an inverse currency mentioned recently, still looks vulnerable.
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The December British pound (BPZ1),
also mentioned recently, also still looks vulnerable.
The March 10-year notes (TYH2)
look like they have the potential to resume their meltdown. Wait for
follow through though as they were up on Monday.
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Best of luck with your
trading on Tuesday!
P.S. Reminder: Protective
stops on every trade!
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