What’s Up, What’s Down: Spotlight on the Yen
Comments for Monday, August 2, 2010
Looking Ahead to Today by Reflecting Back at Friday’s Price Action
Higher closes last Friday for the Swiss Franc, Japanese Yen, British Pound, Aussie and Canadian Dollar while lower for the Euro Fx and dollar index. All of the currencies continue to be in uptrends overall with the Franc making its best high and close since January again, the Aussie Dollar since May 17th and the Pound since February 16th. The yen made a new CONTRACT HIGH and the Canadian Dollar its best close since June 22nd still not quite giving me a buy signal. The dollar index made its worst low and close since April 21st. Continuing good new out of Europe has fueled the indices helped along by the weak dollar lately. BUY SIGNALS FOR THE BRITISH POUND, EURO FX, SWISS FRANC, AUSSIE DOLLAR AND JAPANESE YEN. SELL SIGNAL FOR THE DOLLAR INDEX. 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 firstname.lastname@example.org.
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 risks. Spread trading is not necessarily less risky than outright positions. Futures and options trading is not suitable for all investors.