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

Comments for April 12, 2011

Looking Ahead to Today by Reflecting Back at Monday’s Price Action


Higher closes yesterday for the Swiss Franc, Japanese Yen and Canadian Dollar while lower for the Euro Fx, British Pound, Aussie Dollar and dollar index. The euro and franc are still in uptrends overall with the Euro settling slightly lower and the franc acting like it will soon test its highs. The yen settled higher for the 3rd consecutive trading session but still looks very weak overall with good resistance over 12000. The Canadian Dollar made a new CONTRACT HIGH CLOSE continuing its orderly move higher. The pound and Aussie Dollar settled slightly lower are still very strong with no changes technically. The dollar made a new CONTRACT LOW CLOSE continuing to slide no matter what news is out there. BUY SIGNALS FOR THE EURO FX, SWISS FRANC, CANADIAN DOLLAR AND AUSSIE DOLLAR. SELL SIGNALS FOR THE JAPANESE YEN AND DOLLAR INDEX. CALL FOR DETAILS!

In early morning trading today, the Currencies are trading higher. My Futures HeatMap, a color-coded view of the eight futures market sectors, shows that Currencies, as of 8:30 am Central this morning (April 12), are up a composite 0.21%; with the Swiss franc leading the way (up 1.15% from last night’s close). To view the Heat Map, click, or type this link into your browser: https://www.markethead.com/2.0

Japanese Yen Chart

Canadian Dollar Chart

US Dollar Chart

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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 ralexander@zaner.com.

The information in this Report and the opinions expressed are subject to change without notice. Neither the information nor any opinion expressed constitutes a solicitation by Rick Alexander or the Zaner Group of the purchase or sale of any futures or options. 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.