Rick Alexander’s Currency futures commentary (5/18)

Posted on May 18, 2012 by admin

Trading commodity futures and options involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge and financial resources.

By: Rick Alexander, senior broker at Zaner Group.

CURRENCIES: 5/18/12  Higher closes yesterday for the Japanese Yen, Aussie dollar and U.S. dollar index futures while lower for the British Pound, Canadian Dollar, Euro Fx and Swiss Franc.  The dollar settled higher for its fourteenth session in a row continuing to set all-time records and making its best high and close since the middle of January once again.  THE DOLLAR HAS OBVIOUSLY BEEN MOVING HIGHER DUE TO THE HOPE THAT IT’S AS SAFE A HAVEN AS YOU CAN GET CONSIDERING THE FINANCIAL TURMOIL GOING ON IN MANY GOVERNMENTS AROUND THE WORLD.  Of course, the USA is in no ‘great shakes’ as we already know!  This has also helped bring down energy prices and the indices at the same time.  Finally, the dollar has been trending higher since its reversal type action on May 1st.  The Euro and franc settled lower both making their lowest lows and closes since the middle of January once again which is understandable considering the dollar has been moving higher during this same period of time.  The yen settled sharply higher making its best high and close since the middle of February confirming my buy signal that I already have.  The yen has good support from 122 down to 120 and little resistance nearby.  The closest important price to watch below is 12400 while settling over 12600 is a good indication the yen should continue higher overall.  The Canadian Dollar made its lowest low and close since the middle of February  giving me a SELL SIGNAL.  Unable to hold 9950 was critical and now there’s good resistance overhead from 9950 up to 101.  The pound made its worst low and close since the middle of March very close to removing my buy signal and standing aside while watching for the 156 area to hold which is where its support drops down.  Although the Aussie Dollar settled higher it continues to look lower overall with very strong resistance that goes from 10200 to 10400 and even up to 10650.  For additional customizable charts and quotes visit Markethead.com for a FREE, no-obligation 30 day subscription.  BUY SIGNALS FOR THE U.S. DOLLAR INDEX, JAPANESE YEN AND BRITISH POUND FUTURES.  SELL SIGNALS FOR THE EURO FX, SWISS FRANC, CANADIAN AND AUSSIE DOLLAR.  CALL FOR DETAILS AT (312) 277-0107 OR EMAIL ralexander@zaner.com!

Rick Alexander

(312) 277-0107

ralexander@zaner.com

Zaner Group

Subscribe FREE to Zaner Group’s Daily Research Newsletter.

Futures, options and forex trading is speculative in nature and involves substantial risk of loss. All known news and events have already been factored into the price of the underlying commodities discussed.

 

 

 

Posted in Market Updates | Tagged , , , , , , , , , , , , , , | Comments Off

Rick Alexander’s Currency futures commentary (5/16)

Posted on May 16, 2012 by admin

Trading commodity futures and options involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge and financial resources.

By: Rick Alexander, senior broker at Zaner Group.

CURRENCIES: 5/16/12  Higher closes yesterday for the U.S. dollar index while conversely lower for the Japanese Yen, British Pound, Canadian Dollar and Aussie Dollar, Euro Fx and Swiss Franc futures.  The dollar settled higher for its as given me a BUY SIGNAL by closing over 8050 and following through higher again for its twelfth session in a row setting an all-time record and making its best high and close since the middle of January.  THE DOLLAR HAS OBVIOUSLY BEEN MOVING HIGHER DUE TO THE HOPE THAT IT’S AS SAFE A HAVEN AS YOU CAN GET CONSIDERING THE FINANCIAL TURMOIL GOING ON IN MANY GOVERNMENTS AROUND THE WORLD.  Of course, the USA is in no ‘great shakes’ as we already know!  This has also helped bring down energy prices and the indices at the same time.  Finally, the dollar has been trending higher since its reversal type action on May 1st.  The Euro and franc settled lower both making their lowest lows and closes since the middle of January again which is understandable considering the dollar has been moving higher during this same period of time.  The yen closed down this time and is starting to act like its retracement rally might be coming to an end.  The yen has good support from 122 down to 120 and little resistance nearby.  The important prices to watch are 12400 and 12600.  The Canadian Dollar made its lowest close since April 11th again with the 9900 area important to watch in my opinion.  There is very strong support from 10100 down to 9950 which is now being tested at the lower end as shown below.  The pound made its worst low and close since around the middle of April with good support from 160 down to 156 at this time.  The Aussie Dollar continues to look lower overall with very strong resistance that goes from 10200 to 10400 and even up to 10650 making its worst low and close since the middle of December again.  For additional customizable charts and quotes visit Markethead.com for a FREE, no-obligation 30 day subscription.  BUY SIGNALS FOR THE U.S. DOLLAR INDEX, JAPANESE YEN, BRITISH POUND AND CANADIAN DOLLAR FUTURES.  SELL SIGNALS FOR THE EURO FX, SWISS FRANC AND AUSSIE DOLLAR.  CALL FOR DETAILS AT (312) 277-0107 OR EMAIL ralexander@zaner.com!

 

Rick Alexander

(312) 277-0107

ralexander@zaner.com

Zaner Group

Subscribe FREE to Zaner Group’s Daily Research Newsletter.

Futures, options and forex trading is speculative in nature and involves substantial risk of loss. All known news and events have already been factored into the price of the underlying commodities discussed.

 

 

 

 

Posted in Market Updates | Tagged , , , , , , , , , , , , , , | Comments Off

Judy Crawford’s Currency futures Market Update (5/16)

Posted on May 16, 2012 by admin

Trading commodity futures and options involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge and financial resources.

By: Judy Crawford, senior broker at Zaner Group.

CURRENCY FUTURES COMMENTS

JUNE MINI JAPANESE YEN:  Last time I suggested that we may have seen the rally in the yen.  It has sold off with a low today at 124.51.  The monthly shows a continued struggle with the 20 day ma.  Since it failed it in Feb. every attempt to get back over it has failed.  A trade could be developing.  See Trade Alert for details.  Closed 124.59, down .66.  Trade Alert:  Sell June mini yen.  Sell 124.49 stop.  Protective stop 125.55.  Potential projection 122.40.  (Potential risk $662.50.  Potential gain $1306.25).  Margin:  $2430.

Reasons for the Trade:

1.  On the monthly chart the yen keeps backing off from the 20 day ma.  This has gone on for three months.  That is negative.

2.  The monthly chart has a previous sell signal that is still intact.

3.  On the weekly chart it continues to back off from the 20 day ma for the third week in a row.  That is negative.

4.  The macd is negative on all three charts.

5.  On the daily chart attempts to get back over the 100 day ma for over a week continues to fail.  That is resistance.

6.  The daily chart has a previous sell that is still intact.

JUNE SWISS FRANC:  It triggered a sell on Friday.  It came close to my projection today and I covered.  It continued to sell off and reached 105.96.  Just watching.  Closed 106.07, down .90.  Position:  Short 107.62 (5.11).  Exit 106.36 (5.15).  Profit $1520 (-comm/fees).

JUNE U.S. DOLLAR INDEX:  It took out the high (81.160) of the previous rally on March 15 and surpassed my projection of 81.000. Today’s high 81.450.  I took profit at 81.440.  Watching closely to buy again.  Closed 81.380, up .632.  Position:  Long 80.200 (5.9).  Exit 81.440 (5.15).  Profit $1185 (-comm/fees).  Projection:  81.000.

JUNE MINI EUROCURRENCY:  It has surpassed my projections with a low today at 127.23.  The low in January was 126.45.  Taking out that number would further confirm the current wave down.  Move stops from 129.60 down to 128.72.  Closed 127.36, down 1.09.  Position:  Short 129.540 (5.9).  Projection:  128.000.

JUNE CANADIAN DOLLAR:  It triggered a sell today with a low at 99.18.  Keep stops at 100.02.  Closed 99.47, down .16.  Position:  Short 99.27 (5.15).  Projection:  98.00.

JUNE AUSTRALIAN DOLLAR:  It continues to drift lower.  It failed the 100.00 support last Friday.  The current wave down on the daily chart is close to being met (98.20).  Today’s low 98.87.  Long term it appears to be starting another wave down with longer term projections down to 90.00.  Watching closely to short.  Closed 99.15, down .19.

For additional customizable charts and quotes visit Markethead.com for a FREE, no-obligation 30 day subscription.

 

Judy Crawford

Call Judy Crawford toll-free at (888) 301-8120 or directly at (312) 277-0133

E-mail: jcrawford@zaner.com.

http://www.tradingfuturesmarkets.com/

Subscribe FREE to Zaner Group’s Daily Research Newsletter.

Trading commodity futures and options involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge and financial resources. Opinions are subject to change at any time and are not a solicitation or recommendation to buy or sell futures contracts or options on futures contracts. The information contained in this message has been obtained from sources believed to be reliable but is not guaranteed as to its accuracy or completeness. All known news and events have already been factored into the price of the underlying commodities discussed.

Past performance is not indicative of future results. All suggested trades are based on technical signals/indicators and do not include slippage or cost. Not all trades suggested are taken. Results are based on what the signal indicates not necessarily an actual trade. Actual results may vary.

All suggested trades are based on technical signals/indicators and do not include slippage or cost. Not all trades suggested are taken. Results are based on what the signal indicates not necessarily an actual trade. Actual results may vary.

 

 

 

 

Posted in Market Updates | Tagged , , , , , , , , , , , , , , | Comments Off

Rick Alexander’s Currency futures commentary (5/15)

Posted on May 15, 2012 by admin

Trading commodity futures and options involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge and financial resources.

By: Rick Alexander, senior broker at Zaner Group.

CURRENCIES: 5/15/12  Higher closes yesterday for the U.S. dollar index, Japanese Yen and British Pound futures while lower for the Canadian Dollar and Aussie Dollar, Euro Fx and Swiss Franc futures.  The dollar as given me a BUY SIGNAL by closing over 8050 and following through higher again for its eleventh session in a row making its best high and close since the middle of March once again which should be a record for consecutive higher closes.  THE DOLLAR HAS OBVIOUSLY BEEN MOVING HIGHER DUE TO THE HOPE THAT IT’S AS SAFE A HAVEN AS YOU CAN GET CONSIDERING THE FINANCIAL TURMOIL GOING ON IN MANY GOVERNMENTS AROUND THE WORLD.  OF course, the USA is in no ‘great shakes’ as we already know!  Also, the dollar has been trending higher since its reversal type action on May 1st.  The Euro and franc settled lower both making their lowest lows and closes since the middle of January which is understandable considering the dollar has been moving higher during this same period of time.  Finally, I’m giving a SELL SIGNAL for the franc since it closed below 10725.  The yen continues to look higher for the present ending up slightly higher again with good support from 122 down to 120 and little resistance nearby but needs to soon breakout of its consolidation over the past week.  The Important prices to watch are 12400 and 12600.  The Canadian Dollar made its lowest close since April 11th.  The 9900 area is an important to watch in my opinion.  There is very strong support from 10100 down to 9950 which is now being tested at the lower end as shown below.  The pound made its worst low in over three weeks before settling higher in reversal type action.  There’s good support from 160 down to 156 at this time.  The Aussie Dollar continues to look lower overall with very strong resistance that goes from 10200 to 10400 and even up to 10650 as seen below.  Meanwhile, it made its worst low and close since the middle of December.  For additional customizable charts and quotes visit Markethead.com for a FREE, no-obligation 30 day subscription.  BUY SIGNALS FOR THE U.S. DOLLAR INDEX, JAPANESE YEN, BRITISH POUND AND CANADIAN DOLLAR FUTURES.  SELL SIGNALS FOR THE EURO FX, SWISS FRANC AND AUSSIE DOLLAR.  CALL FOR DETAILS AT (312) 277-0107 OR EMAIL ralexander@zaner.com!

 

 

 

 

 

Rick Alexander

(312) 277-0107

ralexander@zaner.com

Zaner Group

Subscribe FREE to Zaner Group’s Daily Research Newsletter.

Futures, options and forex trading is speculative in nature and involves substantial risk of loss. All known news and events have already been factored into the price of the underlying commodities discussed.

 

 

 

Posted in Market Updates | Tagged , , , , , , , , , , , , , , | Comments Off

Rick Alexander’s Currency futures commentary (5/14)

Posted on May 14, 2012 by admin

Trading commodity futures and options involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge and financial resources.

By: Rick Alexander, senior broker at Zaner Group.

CURRENCIES: 5/14/12  Higher closes last session for the U.S. dollar index, Japanese Yen and Canadian Dollar futures while lower for the Aussie Dollar, Euro Fx, Swiss Franc and British Pound.  The dollar followed through higher again for its eighth session in a row making its best high and close since the middle of March.  The dollar also has good resistance from around 7900 up to the 8050 (started from the middle of January) and is now approaching the upper end of this range as evidenced below.  I’m standing aside until I see a close below 7850 or at least above 8050 but the dollar has been trending higher since its reversal type action on May 1st.  The Euro and franc settled lower with the former making its lowest low and close since the middle of January and the latter since the middle of March which is understandable considering the dollar has been moving higher during this period of time.  The euro has tremendous resistance between 130 and 134 since it was in that trading range started in late January.  During that same period of time the franc’s range had been roughly between 108 and 112 but settled below that area earlier in the week for the second time since January 24th and the first time since March 14th.  However, I’m still standing aside with 10725 the key price to watch for now.  The yen continues to look higher for the present ending slightly higher with good support from 122 down to 120 and little resistance nearby but needs to soon breakout of its consolidation over the past week.  The Important prices to watch are 12400 and 12600.  The Canadian Dollar made its lowest low since January 30th before rallying to settled higher again in reversal type action.  The 9930 area is its first important to watch in my opinion.  There is very strong support from 10100 down to 9950 which is now being tested at the lower end as shown below.  The pound made its worst close since April 19th up also with no changes that I can see.  There’s good support from 160 down to 156 at this time.  The Aussie Dollar continues to look lower overall with very strong resistance that goes from 10200 to 10400 and even up to 10650 as seen below.  Meanwhile, it made its worst low and close since the end of December.  For additional customizable charts and quotes visit Markethead.com for a FREE, no-obligation 30 day subscription.  BUY SIGNALS FOR THE JAPANESE YEN, BRITISH POUND AND CANADIAN DOLLAR FUTURES.  SELL SIGNALS FOR THE EURO FX AND AUSSIE DOLLAR.  CALL FOR DETAILS AT (312) 277-0107 OR EMAIL ralexander@zaner.com!

 

 

Rick Alexander

(312) 277-0107

ralexander@zaner.com

Zaner Group

Subscribe FREE to Zaner Group’s Daily Research Newsletter.

Futures, options and forex trading is speculative in nature and involves substantial risk of loss. All known news and events have already been factored into the price of the underlying commodities discussed.

 

 

 

Posted in Market Updates | Tagged , , , , , , , , , , , , , , | Comments Off

Rick Alexander’s Currency futures commentay (5/11)

Posted on May 11, 2012 by admin

Trading commodity futures and options involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge and financial resources.

By: Rick Alexander, senior broker at Zaner Group.

CURRENCIES: 5/11/12  It’s a little unusual to say higher for the U.S. dollar index, British Pound, Canadian Dollar, Aussie Dollar, Euro Fx and Swiss Franc futures while lower for the Japanese Yen which is probably due to most the of currencies ending up near unchanged.  The dollar followed through higher again for its seventh session in a row making its best close since April 5th again.  The dollar also has good resistance from around 7900 up to the 8050 (started from the middle of January) but now is approaching the upper end of its range as evidenced below.  I’m standing aside until I see a close below 7850 or at least above 8050 but the dollar has been trending higher since its reversal type action on May 1st.  The Euro and franc settled higher both looking lower at this time although I just have a sell signal in the euro as take a conservative approach with the franc.  The euro has tremendous resistance between 130 and 134 since it was in that trading range started in late January.  During that same period of time the franc’s range had been roughly between 108 and 112 but settled below that area earlier in the week for the second time since January 24th and the first time since March 14th.  However, I’m still keeping on the sidelines with 10725 the key price to watch for now.  The yen continues to look higher for the present with good support from 122 down to 120 and little resistance nearby but needs to soon breakout of its consolidation over the past week.  The Important prices to watch are 12400 and 12600.  The Canadian Dollar settled slightly higher this time.  The 8830 area is important to watch in my opinion.  There is very strong support from 10100 down to 9950 which is now being tested at the lower end as shown below.  The pound closed up also with no changes that I can see.  There’s good support from 160 down to 156 at this time.  The Aussie Dollar continues to look lower overall with very strong resistance that goes from 10200 to 10400 and even up to 10650 as seen below.  For additional customizable charts and quotes visit Markethead.com for a FREE, no-obligation 30 day subscription.  BUY SIGNALS FOR THE JAPANESE YEN, BRITISH POUND AND CANADIAN DOLLAR FUTURES.  SELL SIGNALS FOR THE EURO FX AND AUSSIE DOLLAR.  CALL FOR DETAILS AT (312) 277-0107 OR EMAIL ralexander@zaner.com!

Rick Alexander

(312) 277-0107

ralexander@zaner.com

Zaner Group

Subscribe FREE to Zaner Group’s Daily Research Newsletter.

Futures, options and forex trading is speculative in nature and involves substantial risk of loss. All known news and events have already been factored into the price of the underlying commodities discussed.

 

 

 

 

Posted in Market Updates | Tagged , , , , , , , , , , , , , , | Comments Off

Judy Crawford’s Currency futures Market Update (5/11)

Posted on May 11, 2012 by admin

Trading commodity futures and options involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge and financial resources.

By: Judy Crawford, senior broker at Zaner Group.

CURRENCY FUTURES COMMENTS

JUNE MINI JAPANESE YEN:  Last time it was challenging the 100 day ma on the daily chart.  It is now backing off from that resistance.  Long term attempts to get back over the 20 day ma on both charts is failing too.  We may have seen the rally in the yen.  Closed 125.18, down .36.

JUNE SWISS FRANC:  Technically it doesn’t have much going for it.  All the charts are negative.  In March it sold off to 107.25.  The latest sell-off stopped at 107.54 yesterday.  It formed an inside day today.  A trade could be developing.  See Trade Alert for details.  Closed 107.86, up 1.  Trade Alert: Sell June swiss franc.  Sell 107.62 stop.  Protective stop 108.08.  Potential projection 106.00.  (Potential risk $575.  Potential reward $2005).  Margin:  $6210.  (It is rare that this currency offers such a low risk trade so it is worth a try).
Reasons for the Trade:
1.  On the monthly chart the swiss failed the 20 day ma.  An attempt to get back over it failed as it has started to sell off.
2.  On the monthly chart the swiss has attempted for months to get back over the 110.00 support.  It has failed and is now selling off from that resistance.
3.  The weekly chart is triggering a sell this week.
4.  On the weekly chart the swiss failed both the 20 and 100 day ma this week.
5.  On the daily chart the swiss failed the 100 day ma on Monday.
6.  The daily has a previous sell that is still intact.
7.  Today was an inside day that can trigger a signal and market direction.

JUNE U.S. DOLLAR INDEX:  It triggered a buy yesterday and rallied to 80.415.  Today was an inside day.  Move stops from  79.650 to 79.950.  Closed 80.257, .025.  Position:  Long 80.200 (5.9).  Projection:  81.000.

JUNE MINI EUROCURRENCY:  It triggered a sell yesterday and sold off to 129.130.  Move stops from 130.850 down to 129.900.  Closed 129.53, up 5.  Position:  Short 129.540 (5.9).  Projection:  128.000.

JUNE CANADIAN DOLLAR:  Yesterday it sold off to the low end of that endless range it has been stuck in.  The low yesterday was 99.28.  At one time it attempted to break out of this range to the upside but that failed.  It has yet to make an attempt at breaking out to the downside – which it should now do.  It triggered a sell yesterday but is struggling to hold above the 100 day ma.  Just watching.  Closed 99.9, up 1.

JUNE AUSTRALIAN DOLLAR:  It triggered a sell yesterday after failing the 200 day ma earlier this week.  It is now trying to hold at 100.00 on both the daily and weekly.  Just watching.  Closed 100.60, up .39.

For additional customizable charts and quotes visit Markethead.com for a FREE, no-obligation 30 day subscription.

 

Judy Crawford

Call Judy Crawford toll-free at (888) 301-8120 or directly at (312) 277-0133

E-mail: jcrawford@zaner.com.

http://www.tradingfuturesmarkets.com/

Subscribe FREE to Zaner Group’s Daily Research Newsletter.

Trading commodity futures and options involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge and financial resources. Opinions are subject to change at any time and are not a solicitation or recommendation to buy or sell futures contracts or options on futures contracts. The information contained in this message has been obtained from sources believed to be reliable but is not guaranteed as to its accuracy or completeness. All known news and events have already been factored into the price of the underlying commodities discussed.

Past performance is not indicative of future results. All suggested trades are based on technical signals/indicators and do not include slippage or cost. Not all trades suggested are taken. Results are based on what the signal indicates not necessarily an actual trade. Actual results may vary.

All suggested trades are based on technical signals/indicators and do not include slippage or cost. Not all trades suggested are taken. Results are based on what the signal indicates not necessarily an actual trade. Actual results may vary.

 

 

 

 

Posted in Market Updates | Tagged , , , , , , , , , , , , , , | Comments Off

Rick Alexander’s Currency futures commentary (5/10)

Posted on May 10, 2012 by admin

Trading commodity futures and options involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge and financial resources.

By: Rick Alexander, senior broker at Zaner Group.

CURRENCIES: 5/10/12  Higher closes yesterday for the Japanese Yen and U.S. dollar index futures while lower for the British Pound, Canadian Dollar, Euro Fx, Aussie Dollar, Euro Fx and Swiss Franc futures again.  The dollar followed through higher again for its sixth session in a row making its best high since March 16th highest close since April 5th.  The dollar has good resistance from around 7900 up to the 8050 (started from the middle of January) and now is approaching the upper end of its range as evidenced below.  I’m standing aside until I see a close below 7850 or at least above 8050 but the dollar has been trending higher since its reversal type action on May 1st.  The Euro closed below 130 for the first time since January 20th which was below its trading range between 130 and 134 that began in late January.  Its close has also given me a SELL SIGNAL.  During that same period of time the franc’s range had been roughly between 108 and 112 but settled below 108 for the second time since January 24th and the first time since March 14th but still keeping me on the sidelines with 10725 the key price to watch for now.  The yen continues to look higher for the present with good support from 122 down to 120 and little resistance nearby while making its best high and close since February 21st.  The important prices to watch are 12400 and 12600.  The Canadian Dollar had its worst low since February 21st and lowest close in over a month now near a possible sell signal.  The 8830 area is important to watch in my opinion.  There is very strong support from 10100 down to 9950 which is now being tested at the lower end as shown below.  The pound had its lowest low in 2 1/2 weeks before rallying to still end up down but near the upper end of its session’s range which is generally how bull markets trade.  There is good support from 160 down to 156 at this time.  The Aussie Dollar had its lowest low and close since the end of December again with very strong resistance that goes from 10200 to 10400 and even up to 10650 as seen below.  For additional customizable charts and quotes visit Markethead.com for a FREE, no-obligation 30 day subscription.  BUY SIGNALS FOR THE JAPANESE YEN, BRITISH POUND AND CANADIAN DOLLAR FUTURES.  SELL SIGNALS FOR THE EURO FX ANDAUSSIE DOLLAR.  CALL FOR DETAILS AT (312) 277-0107 OR EMAIL ralexander@zaner.com!

 

Rick Alexander

(312) 277-0107

ralexander@zaner.com

Zaner Group

Subscribe FREE to Zaner Group’s Daily Research Newsletter.

Futures, options and forex trading is speculative in nature and involves substantial risk of loss. All known news and events have already been factored into the price of the underlying commodities discussed.

 

 

Posted in Market Updates | Tagged , , , , , , , , , , , , , , | Comments Off

Rick Alexander’s Currency futures commentary (5/09)

Posted on May 9, 2012 by admin

Trading commodity futures and options involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge and financial resources.

By: Rick Alexander, senior broker at Zaner Group.

CURRENCIES: 5/9/12  Higher closes yesterday for the Japanese Yen and U.S. dollar index futures while lower for the British Pound, Canadian Dollar, Euro Fx, Aussie Dollar, Euro Fx and Swiss Franc.  The dollar followed through higher again for its fifth session in a row making its best close since Arpril 13th.  The dollar has good resistance from around 7900 up to the 8050 (started from the middle of January) while just about half way to the upper end.  For now, I’m standing aside until I see a close below 7850 or at least above 8050.  The dollar has been picking up steam over the last week or so.  The Euro made its worst close since March 14th again.  Its range has been between 130 and 134 and hasn’t settled below 130 since January 20th!  However, that may be tested soon!  The franc’s range has been roughly between 108 and 112 and did trade below 108 for the first time (Monday) since the middle of March before rallying to close above 10800 which it continues to hold after today’s worst close since March 15th.  I’m using the trading ranges mentioned above for my reference points when making a long-term decision on a direction unless I see a change in the technicals.  The yen continues to look higher for the present with good support from 122 down to 120 and little resistance nearby while pushing towards its recent high.  Important prices to watch are 12600 and 12400 at this time while acting like it will move higher in at least the short term.  The Canadian Dollar settled lower making its worst low and close in over three weeks.  There is very strong support from 10100 to 9950 which is being tested as we speak.  The pound settled lower this but still looks higher overall.  It needs to continue holding the critical 15800 area which it hasn’t settted below since March 15th but does have good support from 16000 down to the 15600 area.  The Aussie Dollar had its lowest low and close since the end of December along with very strong resistance that goes from 10200 to 10400 and even up to 10650 as seen below.  For additional customizable charts and quotes visit Markethead.com for a FREE, no-obligation 30 day subscription.  BUY SIGNALS FOR THE JAPANESE YEN, BRITISH POUND AND CANADIAN DOLLAR FUTURES.  SELL SIGNAL FOR THE AUSSIE DOLLAR.  CALL FOR DETAILS AT (312) 277-0107 OR EMAIL ralexander@zaner.com!

Rick Alexander

(312) 277-0107

ralexander@zaner.com

Zaner Group

Subscribe FREE to Zaner Group’s Daily Research Newsletter.

Futures, options and forex trading is speculative in nature and involves substantial risk of loss. All known news and events have already been factored into the price of the underlying commodities discussed.

 

 

Posted in Market Updates | Tagged , , , , , , , , , , , , , , | Comments Off

Judy Crawford’s Currency futures Market Update (5/09)

Posted on May 9, 2012 by admin

Trading commodity futures and options involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge and financial resources.

By: Judy Crawford, senior broker at Zaner Group.

CURRENCY FUTURES COMMENTS

JUNE MINI JAPANESE YEN:  As of last Thursday I suggested that the yen could go either way.  It rallied and is now challenging the 100 day ma on the daily chart.  On both long term charts it is pushing up against the 20 day ma so that is holding the yen back currently.  If it can get through this resistance, it might try for 127.00 as that is technical resistance long term.  That could set up a shorting opportunity.  Closed 125.35, up .21.

JUNE SWISS FRANC:  Last time I suggested that it most likely would test 108.00 again.  It did so yesterday.  The low was 107.78.  Last time the long term charts were in contradiction.  Not any longer.  The monthly was negative and now the weekly is as well.  It failed the 20 day ma and has triggered a sell this week.  It is trying to hold at the 100 day ma but there should be more follow through.  The swiss gapped down on Monday and may try to fill that gap at 108.93.  Closed 108.51, down .18.

JUNE U.S. DOLLAR INDEX:  I tried to buy it on Monday but it had gapped up.  I will try again tomorrow.  See Trade Alert for details.  Closed 79.849, up .134.  Trade Alert: Buy June dollar index. Buy 80.100 stop. Protective stop79.650. Potential projection 81.000. (Potential risk $450. Potential reward $900). Margin $1320.
Reasons for the Trade:
1. The monthly has a previous buy signal that is still intact.
2. On the weekly chart the dollar is back over both the 200 and 20 day ma.Â
3. The weekly has been in an uptrend since the 5.2.11 low. It has had three waves up and could be accumulating for a fourth wave up.
4. The daily chart has two previous buy signals that are still intact.
5. On the daily the dollar broke out of the pennant to the upside on Friday. It did so once before but could not close above it. It did so on Friday.  It has continued to follow through since.
6. Today was an inside day that can trigger a signal and market direction.

JUNE MINI EUROCURRENCY:  I tried to sell it for Monday but it had gapped down.  I will try again tomorrow.  See Trade Alert for details.  Closed 130.30, down .24.  Trade Alert:  Sell June mini eurocurrency. Sell 129.820 stop. Protective stop 130.850. Potential projection 128.000. (Potential risk 656.25. Potential gain $1137.50). Margin: $2363.
Reasons for the Trade:
1. On the monthly chart the fx violated the 100 day ma in December. Each month since, it has tried to get back over it without success. That is negative.
2. Both the monthly and weekly charts have been in a major downtrend since the 2008 high.
3. The monthly chart has a previous sell that is still intact.
4.  On the weekly chart, the fx failed the 20 day ma this week and triggered a sell.
5. The macd is negative on all three charts.
6. The daily chart has a previous sell that is still intact.
7. On the daily chart, the fx closed under both the 20 & 100 day ma on Friday.
8. On the daily chart the fx broke out of the lower side of the pennant it had formed on Monday and continued to trade under it today.
9.  Today was an inside day that can trigger a signal and market direction.

JUNE CANADIAN DOLLAR:  In my last Update, it was struggling to test and hold a breakout to the upside from the huge trading range it has been stuck in since February.  Well, it did not succeed and is now at the low end of that consolidation.  One positive is that it is holding at the 100 day ma on the daily chart.  On the monthly chart it is back under the 20 day ma.  The weekly is triggering a sell this week but is holding, so far, in support.  If the cd cannot hold 100.00, then that breakout to the upside was a false breakout and the real breakout will be to the downside.  If that be the case, near term it should reach for 98.00 as a target.  Closed 100.06, down .51.

JUNE AUSTRALIAN DOLLAR:  It is in technical trouble.  It was trying to change trend near term but was struggling in my last Update.  It failed 102.00 and has made new lows and appears to be starting another major wave down on the daily chart.  It failed the 200 day ma on Friday and rallies on both Monday and today could not get back over it.  It closed near the low end of the day’s range today.  Not good.  Technically on the monthly chart it has failed the 20 day ma.  On the weekly it is trying to hold at the 100 day ma.   Closed 100.82, down .81.

For additional customizable charts and quotes visit Markethead.com for a FREE, no-obligation 30 day subscription.

 

Judy Crawford

Call Judy Crawford toll-free at (888) 301-8120 or directly at (312) 277-0133

E-mail: jcrawford@zaner.com.

http://www.tradingfuturesmarkets.com/

Subscribe FREE to Zaner Group’s Daily Research Newsletter.

Trading commodity futures and options involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge and financial resources. Opinions are subject to change at any time and are not a solicitation or recommendation to buy or sell futures contracts or options on futures contracts. The information contained in this message has been obtained from sources believed to be reliable but is not guaranteed as to its accuracy or completeness. All known news and events have already been factored into the price of the underlying commodities discussed.

Past performance is not indicative of future results. All suggested trades are based on technical signals/indicators and do not include slippage or cost. Not all trades suggested are taken. Results are based on what the signal indicates not necessarily an actual trade. Actual results may vary.

All suggested trades are based on technical signals/indicators and do not include slippage or cost. Not all trades suggested are taken. Results are based on what the signal indicates not necessarily an actual trade. Actual results may vary.

 

 

 

 

Posted in Market Updates | Tagged , , , , , , , , , , , , , , | Comments Off