What’s Up, What’s Down: Spotlight on Currencies
Comments for May 24, 2011
Looking ahead to Tuesday by reflecting back on Monday’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
EURO/DOLLAR INDEX REVERSALS??
CURRENCIES: 5/24/11: Higher for the dollar index while lower for the Swiss Franc, British Pound Aussie Dollar, Japanese Yen, Euro Fx and Canadian Dollar. You can now see major trends in the currencies beginning to turn. I’m still neutral the euro while the franc remains stronger but looking toppy at this time The yen settled lower also while I remain neutral in another currency that looks toppy. There is good support below 12200. The Canadian Dollar made its lowest low and close since March but also in a support area. The pound and Aussie Dollar made their lowest lows and closes since April with the former in a support area and the latter having good support around 10400 looking toppy. The dollar made its best high and close since April giving me a BUY SIGNAL. BUY SIGNALS FOR THE DOLLAR INDEX, SWISS FRANC AND AUSSIE DOLLAR. SELL SIGNALS FOR THE CANADIAN DOLLAR AND BRITISH POUND. CALL FOR DETAILS!
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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 email@example.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.