Lower Dollar Ahead?
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 September Dollar
(
DXU1 |
Quote |
Chart |
News |
PowerRating) appears to be breaking down out of a Bow
Tie. This should buoy the inverse currencies. With that said, the
September British Pound
(
BPU1 |
Quote |
Chart |
News |
PowerRating) looks set up to rally out of its first
pullback since breaking out.
September heating oil
(
HOU1 |
Quote |
Chart |
News |
PowerRating), mentioned Monday night, still looks
vulnerable, continue to look for a shorting opportunity here.
Best of luck with
your trading on Wednesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!
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