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!
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Rick Alexander
(312) 277-0107
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.
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- Judy Crawford’s Currency futures Market Update (5/16)
- Japanese Yen futures issue a buy signal (5/04)
- USDA Crop Report Quick View (5/10)
- Rick Alexander’s Energy futures commentary (5/16)
- Metal complex tumbles, Gold futures generate a sell signal (5/11)
- Judy Crawford’s S&P 500 futures Market Update (5/16)
- Rick Alexander’s Grain futures commentary (5/16)
- Heating Oil & Gasoline RBOB show sell signals (5/14)
- Rick Alexander’s Stock Index futures commentary (5/16)
- Judy Crawford’s Crude Oil futures Market Update (5/16)
- Live Cattle & Feeder Cattle futures give buy signals (5/15)
- Rick Alexander’s Metal futures commentary (5/16)
- Judy Crawford’s Grain futures Market Update (5/16)
- Markethead: Quotes, charts, news, commentary and more.
Rick Alexander’s Currency futures commentary (5/18)
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.
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