Comments for November 29, 2010
Looking ahead to Monday by reflecting on Friday’s trading 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
US Dollar Index has its best close since September 23
CURRENCIEs: 11/29/10: Higher closes last Friday for the dollar index while conversely lower for the Japanese Yen, Euro Fx, Swiss Franc, Canadian Dollar, British Pound and Aussie Dollar.The euro, franc and yen (in a support area) continue to look lower overall with the euro and franc making their worst lows and closes since September 21st and the yen since late September. The Canadian Dollar had a huge range making an OUTSIDE DAY closing lower still in an uptrend overall but acting toppy in choppy action over the last week. The pound made its worst low and close since September 21st also giving me a SELL SIGNAL.The Aussie Dollar made its lowest low and close since October 2nd now very close to a sell.The dollar, on the other hand, had a strong close with its best high and close since September 23rd continuing to act like its bottomed out for the long haul. BUY SIGNALS CANADIAN DOLLAR AND DOLLAR INDEX. SELL SIGNALS FOR THE EURO FX, BRITISH POUND, SWISS FRANC AND JAPANESE YEN. CALL FOR DETAILS!
Special Note for Cotton Traders: The daily price limit for Monday, November 29, will revert back to 4 cents.
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 firstname.lastname@example.org or call toll-free (888) 281-4158.
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors. The information in this Report and the opinions expressed are subject to change without notice. All known news and events have already been factored into the price of the underlying commodities discussed.