What’s Up, What’s Down: Spotlight on Currencies
Comments for January 3, 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.
SWISS FRANC MAKES A NEW CONTRACT HIGH AND THE EURO IS CLOSE TO GIVING ME A BUY SIGNAL
CURRENCIES: 1/3/11 Higher closes for the last trading day of the year, for the Japanese Yen,Euro Fx, Swiss Franc, Aussie Dollar, British Pound and Canadian Dollar while lower for the dollar index.The euro and franc settled higher with the franc making a new CONTRCT HIGH AND CLOSE while the euro is now close to a buy signal. Also the swiss/ euro spreading continues to work. The yen made best high and close since Nov. 11th(higher 11 trading sessions in a row) but now in a resistance area. The Canadian Dollars made new CONTRACT HIGH AND CLOSE quickly ending its double top.The pound had its best high and close in two weeks but still a sell in my opinion.The Aussie Dollar made a new CONTRACT HIGH AND CLOSE while the dollar had its worst low and close since around the middle of November not quite giving me a sell signal, at least not yet! BUY SIGNALS FOR THE SWISS FRANC, CANADIAN AND AUSSIE DOLLAR ALONG WITH THE JAPANESE YEN. SELL SIGNALS FOR THE EURO FX AND BRITISH POUND. 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 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.