What’s Up, What’s Down: Focus on Currency Futures

Comments for Tuesday, July 27, 2010

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


Higher closes Monday for the Canadian and Aussie Dollar along with the British Pound, Euro Fx, Swiss Franc and Japanese Yen while lower for the dollar index. All of the currencies continue to be in uptrends and the dollar, conversely, a downtrend. The Canadian Dollar, though, still hasn’t given me a buy signal (after closing higher three days in a row) but is very close and has been working higher since the beginning of July after a one month setback. The euro had it best close since May 4th while the franc has been consolidating over the last eight trading sessions.

The yen continues to move higher while the pound had its highest close since April 4th and its highest high since February 17th. The Aussie Dollar made its highest close since May 10th and highest high since May 5th. I actually had a BUY SIGNAL for the Aussie Dollar on July 22nd but somehow I must have missed it! The dollar, on the other hand, made its worst low and close since April 3oth continuing to look lower overall. BUY SIGNALS FOR THE BRITISH POUND, EURO FX, SWISS FRANC, AUSSIE DOLLAR AND JAPANESE YEN. SELL SIGNAL FOR THE DOLLAR INDEX. CALL FOR DETAILS!

Canadian Dollar Chart

Aussie Dollar Chart

US Dollar Chart

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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.

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