Comments for December 17, 2010
Looking ahead to Friday by reflecting on Thursday’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
1.3150 Could be a Critical Point for the Euro
Download my Christmas Trading Hours Schedule (for US futures exchanges) by clicking or pasting this link into your browser: http://www.zaner.com/3.0/tseifriedXMAS.asp
CURRENCIES: 12/17/10 Higher closes yesterday for the Swiss Franc, Japanese Yen, British Pound and Aussie Dollar while unchanged for the Euro Fx and lower for Canadian Dollar along with the dollar index. The euro needs to hold the 13150 area which is critical in my opinion while the franc should move higher in the short term after a nice rally off its daily low to settle higher. It keeps coming close to a buy signal and then retreats. The yen settled higher but has been trending down since the beginning of November. The yen also needs to hold the 11860 area in my opinion. The Canadian Dollar settled higher for the 4th consecutive trading session acting like it will test its highs. The pound settled looking like its forming a larger top than the one that gave me my first sell signal. The Aussie Dollar closed higher and, although it has been trending higher since last July, it hasn’t really gone anywhere since the middle of October. The dollar settled slightly lower still acting like its basing overall but keeping on the sidelines until it breaks out of its present consolidation one way or the other. BUY SIGNALS CANADIAN AND AUSSIE DOLLAR. SELL SIGNALS FOR THE EURO FX, BRITISH POUND, AND JAPANESE YEN. 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 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.