Opportunites In Currencies

August 24, 2001
Dave Landry

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 Swiss Franc
(
SFZ1 |
Quote |
Chart |
News |
PowerRating) has
formed a Trend Knockout (TKO). Notice that it dipped below its recent lows
before recovering to close fairly well. This action may have knocked out the
nervous longs and could clear the way for it to resume its uptrend. Look for a
buying opportunity here.

The September
British Pound
(
BPU1 |
Quote |
Chart |
News |
PowerRating) also has formed a TKO. Look for a buying opportunity
here.

The September
Canadian Dollar
(
CDU1 |
Quote |
Chart |
News |
PowerRating), mentioned Thursday, still looks vulnerable. Look
for a shorting opportunity here.

The September
10-Year Treasury Notes
(
TYU1 |
Quote |
Chart |
News |
PowerRating) held up fairly well in spite of the massive
rally on Wall Street. This action suggests that its uptrend may remain intact.
Look for a buying opportunity here, especially if it takes out (trades above)
Thursday’s pivot high.