What’s Up, What’s Down: Spotlight on Currencies
Comments for June 14, 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
SWISS FRANC SHOWS STRONG UPTREND
CURRENCIES: 6/14/11: Higher closes yesterday for the Swiss Franc, Canadian and Aussie Dollar along Japanese Yen, Euro Fx and British Pound while lower for the dollar index. The franc looks the like its in the strongest up-trend of all the currencies while the euro, pound and Aussie Dollar have been in wide trading ranges since the beginning of May. The Canadian Dollar has been holding the 102(Sept.) area while attempting to bottom. The dollar is still in a long-term downtrend overall in my opinion but is showing some bottoming signs. However, a close over 7700 in my opinion would be very significant for it to look like a turnaround. BUY SIGNALS FOR THE EURO FX AND SWISS FRANC. SELL SIGNALS FOR THE CANADIAN DOLLAR AND DOLLAR INDEX. CALL FOR DETAILS!
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.