What’s Up, What’s Down: Currencies in Spotlight
Comments for Monday, October 25, 2010
Looking Ahead to Today by Reflecting Back at Friday’s Price Action
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors.
CURRENCIES:
Higher for the Canadian Dollar, Aussie Dollar and dollar index while lower for the Euro Fx, Japanese Yen, Swiss Franc, and British Pound. All of the currencies continue to be in up trends but there is some potential toppy action going on in the franc, Canadian Dollar and British Pound. Also, the dollar made a new CONTRACT LOW before rallying sharply to settle higher in reversal type action. The dollar came close, but not quite, to a key reversal. Also, the yen is in a nice looking BULL PENNANT. BUY SIGNALS FOR EURO FX, SWISS FRANC, AUSSIE DOLLAR, BRITISH POUND, CANADIAN DOLLAR AND JAPANESE YEN. SELL SIGNAL FOR THE DOLLAR INDEX. CALL FOR DETAILS!
Rick Alexander has been a broker and analyst in the futures business for over thirty years. He is a Vice-President for Sales and Trading at the Zaner Group (www.zaner.com) a Chicago-based futures brokerage firm. Email Rick at ralexander@zaner.com.
The information in this Report and the opinions expressed are subject to change without notice. Neither the information nor any opinion expressed constitutes a solicitation by Rick Alexander or the Zaner Group of the purchase or sale of any futures or options. Futures and options trading is speculative in nature and involves risks. Spread trading is not necessarily less risky than outright positions. Futures and options trading is not suitable for all investors.