Will The Pound Get Pounded?

Each evening we
focus on the most interesting aspects for the upcoming
trading day. The comments are based on observations of the
nightly updates of the Futures and Market Bias pages. They
are provided for educational purposes only and are not
intended to be direct trading advice. Also, keep in mind
that these remarks are made up to 12 hours in advance of the
markets opening. Therefore, overnight events may alter the
outcome of these observations.


 

The December British Pound
(
BPZ1 |
Quote |
Chart |
News |
PowerRating)
is in
its first pullback since breaking down from what appears to be a top. Look for a
shorting opportunity here but only if it shows a resumption of the downtrend
(i.e. takes out Tuesday’s low).

March sugar
(
SBH2 |
Quote |
Chart |
News |
PowerRating)
appears to be stalling
out in a pullback from lows. This action suggests that its downtrend remains
intact.

Best of luck with
your trading on Thursday!

face=”Arial, Helvetica”>Dave Landry

P.S. Reminder:
Protective stops on every trade!

 

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