What’s Up, What’s Down: Financials and Currencies

Comments for Friday, June 11, 2010

Looking Ahead to Today by Reflecting Back at Thursday’s Price Action


Higher closes Thursday for the Eurodollars while lower for the notes and bonds again. The Eurodollar made its highest close in three weeks again while the the notes and bonds lower again due to the strong rally in the indices. Now the notes and bonds are showing potential topping signs. BUY SIGNALS FOR EURODOLLAR,NOTES AND BONDS. CALL FOR DETAILS!

Treasury Note Chart

Treasury Bond Chart


Higher for the Canadian and Aussie Dollar along with the British Pound, Euro Fx and Swiss Franc while lower for the dollar index. The euro and franc are still in long-term downtrends but the franc is now close to a buy signal. The yen settled lower looking like its forming a nice base and should continue to move higher overall but I don’t have a signal at this time. The Canadian Dollar closed sharply higher making its highest close since May 13th and also giving me a BUY SIGNAL. The pound also moved higher with its highest close in a month. A key price to watch is 14772 which could then trigger a buy signal. The Aussie Dollar closed sharply higher also near a buy signal with 8448 its price to key tabs on. The dollar index settled lower again now showing topping signs. BUY SIGNALS FOR THE DOLLAR INDEX AND CANADIAN DOLLAR. SELL SIGNALS FOR THE EURO FX, SWISS FRANC, BRITISH POUND AND AUSSIE DOLLAR. CALL FOR DETAILS!

Swiss Franc Chart

For my complete coverage, visit my commentary page at www.markethead.com.

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.

Do you trade SSO? Click here to see if SSO will likely increase or decrease in price over the next few trading days with up to 79% accuracy.