What’s Up, What’s Down: Spotlight on Currencies

Comments for June 13, 2011

Looking ahead to Monday by reflecting back on Friday’s trading

Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors

IS THE EURO LOOKING A LITTLE TOPPY?

CURRENCIES: 6/13/11 LAST TRADING DAY FOR THE JUNE CONTRACT Higher closes Friday for the Swiss Franc and dollar index while lower for the Canadian and Aussie Dollar along with Japanese Yen, Euro Fx and British Pound.. No changes technically for the euro, franc and yen except the euro is looking a little toppy at this time. Canadian Dollar settled lower this time but has been holding  the 102(Sept.) area while attempting to bottom. The pound and Aussie Dollar lower also with the former making its worst close since May 24th. Both are now neutral in my opinion because of not trending over the last 1-2 months. The dollar settled higher for the third session in a row continuing to hold the 740 area but still in a long-term downtrend overall in my opinion. There are bottoming signs  but would need to close over 7700 in my opinion. BUY SIGNALS FOR THE EURO FX AND SWISS FRANC. SELL SIGNALS FOR THE CANADIAN DOLLAR AND DOLLAR INDEX. CALL FOR DETAILS!

001 chart

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Sept/June rollover for stock index futures started last Thursday, June 9. See my HOT TOPICS at my website (https://www.zaner.com/3.0/market_information/hot_topics.asp) for more information.

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 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.