Currency Futures Trading

Today was somewhat of a respite for day traders day trading futures, specifically those day traders day trading in the currency futures markets. The British Pound Futures once again made a new low (1.5531), while the Canadian Dollar and Euro Currency held above last Friday’s lows. The Japanese Yen Futures consolidated today and now the question is where do we go from here?

As for the British Pound Futures (see daily chart below) you can see that the 5-day moving average has been a pivotal area of technical resistance and might be a good gauge of short-term technical momentum in the coming days. The weekly chart of the British Pound shows that this market has broken below a pivotal area of technical support (last cycle low 1.5702), which in my opinion puts this market on the defensive.

The March 2010 Canadian Dollar Futures contract (see chart below) shows a break below a now so definitive bear flag formation (outlined by black trendlines. The 5-day moving average (red – .9331) will be a pivotal area of technical resistance and like the 5-day moving average in the British Pound a potential good gauge of technical momentum.

The Euro Currency Futures contract (see daily chart below) shows that market was able to hold above Friday’s low (1.3584), but slid over 65 ticks going into the close. Can the bulls make another run at the 5-day moving average (red – 1.3718), or was today’s high another area that the bears were shorting looking for the low of 1.3584?

The March 2010 Japanese Yen Futures contract (see chart below) shows a market that look like paint drying. Why would I say that, because this market had a range of 53 ticks today, that’s why? Is this a pause in a prevailing upward trend, or are the bears getting ready to strike?

To get up to the minute strategic analysis and a unique perspective in the Currency Futures Market simply join me in my LIVE TRADING ROOM. I will break down the Currency Futures Market in unbelievable detail and across multiple time frames. If you are serious about currency futures trading and want a no nonsense approach to the most aggressive markets in the world then simply join me in my LIVE TRADING ROOM.

There is significant risk of financial loss in trading futures and trading futures is not suitable for everyone. You should carefully consider whether such an investment is right for you in light of your financial condition.   

Technorati Tags: British Pound futures, Canadian Dollar futures, Currency Futures Trading, currency market, currency traders, day traders, day trading futures, Euro Currency futures, Japanese Yen futures, live trading room, Technical Analysis

I always talk about currency futures trading not being for the faint of heart, or garden-variety-investor and today was a good example of just why I make that statement. Currency Day Traders watched several markets go through projected areas of technical support like tanks through soldiers on foot, while the Japanese Yen exploded to the upside. So, what questions area currency traders asking themselves tonight?

Well let’s start with the March 2010 British Pound Futures contract (see chart below). You can see that that once the market broke back below the 5-day moving average (red – 1.5859) the bears really put the pedal to the metal. I would like to point out that the British Pound also broke through a bear flag technical formation on the weekly chart and through a pivotal cycle low (1.5702) on the same chart.

So, what’s the next stop on the short train? Maybe the short-traing is on it’s final leg and looking to turnaround. I guess that depends on if there are enough willing to climb aboard.

The daily chart of the March 2010 Canadian Dollar Futures contract (see chart below) also sold off today. This market looked like a skydiver falling from about 2500 feet.

You can see just like the British Pound futures market, once the bears broke back through the 5-day moving average (red – .9383) the Canadian Dollar collapsed, though the Canadian Dollar is still well above the last cycle low (.9217). Can the bulls hold the Canadian Dollar above this level, or is this commodity based currency going to continue to get slammed Friday?

The daily chart of the March 2010 Euro Currency Futures contract (see chart below) shows a market that is showing no mercy for any traders buying and holding. You will also notice that the Euro Currency went through the 2.5% weekly volatility range (1.3683) in the early hours of the night market, once again going through a projected area of technical support like a runnaway train coming down a mountain.

The question for currency futures traders trading Euro Currency futures tonight is a simple one. Should currency day traders try and jump on this short-train or wait till next week to try and get into this market?

The March 2010 Japanese Yen Futures contract (see daily chart below) clearly illustrates a strong move from the 25-day moving average (blue – 1.1002) in today’s session. I have been asking currency futures traders a simple question all this week and today I think today we got our answer. The answer wat the current pause was a pause in a prevailing upward trend and not a pause in a downward trend. So what now? Can the bulls continue to push this market higher, or will we see the bears step in looking for a short-term correction?

To get up to the minute strategic analysis and a unique perspective in the Currency Futures Market simply join me in my LIVE TRADING ROOM. I will break down the Currency Futures Market in unbelievable detail and across multiple time frames. If you are serious about currency futures trading and want a no nonsense approach to the most aggressive markets in the world then simply join me in my LIVE TRADING ROOM.

There is significant risk of financial loss in trading futures and trading futures is not suitable for everyone. You should carefully consider whether such an investment is right for you in light of your financial condition.   

Technorati Tags: British Pound futures, Canadian Dollar futures, Currency Futures Trading, currency market, currency traders, day traders, day trading futures, Euro Currency futures, Japanese Yen futures, live trading room, Technical Analysis

Currency Traders saw some extreme reversals in today’s currency futures market. Once again currency futures trading isn’t for the meek or garden-variety-investor whose idea in regard to trading is the old buy and hold mantra of the last century. In my opinion, as a currency trader day trading currency futures you need to be nimble and well versed in technical analysis, that is if you want to have any kind of chance of surviving this day trading game.

So, let’s now take a look at some of these extreme reversals. The daily chart of the March 2010 British Pound futures contract (see chart below) shows that the British Pound was able to get back above the 5-day moving average (red – 1.5984) last night, which I considered a pivotal area of technical resistance.

But by morning the British Pound was in a free fall and any currency day trader that bought the top last night or early this morning was in trouble by mid-morning. The question now is can the bears keep up the technical pressure, or will we see an extreme reversal from the early night market lows?

Just like the British Pound the March 2010 Canadian Dollar futures contract (see chart below) also rallied from the open on Tuesday evening, but ran right into technical resistance at the 75-day moving average (green – .9486). From there the market just tumbled, but did find technical support at the 5-day moving average (red – .9401). 

The question for currency trader’s trading in the Canadian Dollar is can the bulls hold the line in the vicinity of the 5-day moving average (red – .9413), or will the bears try and keep up the downside pressure?

The daily chart of the March 2010 Euro Currency futures contract (see chart below) shows that the Euro Currency rallied and actually took out last Friday’s high (1.3988) last night climbing to 1.4026. Once there the market looked like a rocket that ran out of fuel and then just plummeted back to earth.

The question for currency day traders day trading the Euro Currency Futures is will the bears make a push at the low of the week (1.3851), or will the bulls look for technical support and try an extreme reversal of their own?

The daily chart of the March 2010 Japanese Yen futures contract continues to show this market consolidate between both the 5-day moving average (red – 1.1036) and the 25-day moving average (blue – 1.0977). The question for currency futures traders is still the same, is this a pause in a prevailing upward trend, or is this downward move a continuation of a larger downward trend?

To get up to the minute strategic analysis and a unique perspective in the Currency Futures Market simply join me in my LIVE TRADING ROOM. I will break down the Currency Futures Market in unbelievable detail and across multiple time frames. If you are serious about currency futures trading and want a no nonsense approach to the most aggressive markets in the world then simply join me in my LIVE TRADING ROOM.

There is significant risk of financial loss in trading futures and trading futures is not suitable for everyone. You should carefully consider whether such an investment is right for you in light of your financial condition.   

Technorati Tags: currency trading, day trading futures, live trading room, Technical Analysis

Day Trader’s day trading in the currency futures market have gotten somewhat of a respite from last week’s large swings. The British Pound, Canadian Dollar and Euro Currency seem to be stabilizing, though these markets might just be a pausing, rather then a real reversal. The Japanese Yen on the other hand has pulled back and is currently trading just above a pivotal area of technical support.

Let’s take a look at each currency futures market and try to determine pivotal area of technical support and resistance. The daily chart of the March 2010 British Pound futures contract (see chart below) shows that the bulls were able to rally the market from Monday’s low (1.5845), which was just above the 52-week moving average (1.5839).

Now the question for currency trader’s day trading futures, specifically the British Pound is can the bulls run the market pass the 5-day moving average (red – 1.6005), which in my opinion is a pivotal area of technical resistance? Or are the bears going hold the line and once again test this week’s low (1.5845)?

The daily chart of the March 2010 Canadian Dollar futures contract (see chart below) shows that the bulls were able to push this market back above the 5-day moving average (red – .9411) and appear poised to make a run at the 75-day moving average (green – .9488). Can the bulls muster up enough technical strength, or is this move more about bears taking some profits and looking to reenter the market at a better price?

The March 2010 Euro Currency futures contract did finally get back above the 5-day moving average (red – 1.3940), which has been a pivotal area of technical resistance for the last two weeks (see chart below).

The question now is are the bulls looking to make a push at the 52-week moving average (1.4050), or are the bears ready to make another downward push?

The March 2010 Japanese Yen futures contract (see chart below) is currently consolidating between both the 25-day moving average (blue – 1.0972) and the 5-day moving average (red – 1.1071). The question for currency futures trader’s is are we in a short-term pause in a prevailing upward trend, or is the market in a short-term pause in a prevailing downward trend?

To get up to the minute strategic analysis and a unique perspective in the Currency Futures Market simply join me in my LIVE TRADING ROOM. I will break down the Currency Futures Market in unbelievable detail and across multiple time frames. If you are serious about currency futures trading and want a no nonsense approach to the most aggressive markets in the world then simply join me in my LIVE TRADING ROOM.

There is significant risk of financial loss in trading futures and trading futures is not suitable for everyone. You should carefully consider whether such an investment is right for you in light of your financial condition.   

The Currency Futures Markets were explosive this week with some incredible short-term spikes and reversals. Once again for Day Traders looking for volatility or price action then the currency futures markets didn’t disappoint. The British Pound continually tested a technical support area, before finally collapsing, while the Canadian Dollar and Euro Currency just tumbled this week. The Japanese Yen on the other hand started the week strong, climbing to new daily cycle highs, but by Friday the bears seemed to have seized control.

The question for currency traders going into next week is what will happen on Sunday night and Monday morning. The answer to that question is simple, who knows. What we do know is that the March 2010 British Pound futures contract (see chart below) did break below a pivotal area of technical support and appears poised to test the next cycle low at 1.5718. The question is can the bears keep up the pressure, or will the bulls look to make a stand and play for a reversal?

And what about the Canadian Dollar? The daily chart (see chart below) clearly shows that the area to watch is the 5-day moving average (red .9395), which is where the bears have been holding as a technical resistance area. Therefore, in my technical opinion this average might be a good gauge of technical momentum this week.

Now let’s take a quick look at the Euro Currency. The daily chart of the March 2010 Euro Currency futures contract clearly illustrates a significant sell-off from the bottom of a bear-flag technical formation (outlined by black trendlines). Also notice that the bears were able to blow right through the 52-week moving average (1.4035), which in my opinion was a pivotal area of technical support. The question now is can the bulls find a place in the market where they might make a stand, or are the bears going to continue and punish any support this week?

Finally let’s take a look at the Japanese Yen. The daily chart of the March 2010 Japanese Yen (see chart below) shows that the week started with the bulls utilizing the area in the vicinity of the 5-day moving average as a launching pad to new short-term weekly highs. But by Thursday this area of the market had given way and the bears had seized control. The question now is who will be in control next week, the bears or bulls?

To get up to the minute strategic analysis and a unique perspective in the Currency Futures Market simply join me in my LIVE TRADING ROOM. I will break down the Currency Futures Market in unbelievable detail and across multiple time frames. If you are serious about currency futures trading and want a no nonsense approach to the most aggressive markets in the world then simply join me in my LIVE TRADING ROOM.

There is significant risk of financial loss in trading futures and trading futures is not suitable for everyone. You should carefully consider whether such an investment is right for you in light of your financial condition.   

Once again Currency Traders day trading currency futures found themselves in some strong intra-day currents. The British Pound and Canadian Dollar futures markets both rallied early only to find stiff resistance and fall back below there early lows. The Euro Currency once again sold off after climbing over .0150 ticks from yesterday evening’s steep drop. The Japanese Yen did sell off early, but by the close the bulls were back in control.

Today were going to assess the weekly charts in the currency futures market starting with the British Pound (see chart below).

You can see by looking at the weekly chart (above) that the British Pound is currently trading within a bear flag formation, in which the bottom of this technical formation is in very close proximity to the 25-day moving average on the daily chart. A break below the bottom of this technical formation and that might very well bring the last weekly cycle low (1.5702) into play.

The weekly chart of the Canadian Dollar (see chart below) clearly illustrates a break below the 13-week moving average (blue – .9469). This average has been a pivotal area of technical support since early last year and a close below this average tomorrow and we might see the bulls run.

The Euro Currency bears have been able to push the Euro Currency through some pretty stiff technical support this week and might be poised to make one more strong downward push tonight or Friday. The weekly chart of the Euro Currency (see chart below) shows that the next possible downside target is the 50% retracement line, which is 1.3800. The question is do the bears have the technical strength to push the Euro Currency that low, or will the bears look to counter as bulls take profits on Friday?

The weekly chart of the Japanese Yen (see chart below) shows that the 4-week moving average (red – 1.1020) appears poised to cross back above the longer term 13-week moving average (blue – 1.1087). Because the Japanese Yen is trading above both these averages, then it’s my technical opinion that these average will be pivotal technical areas and good gauges of technical momentum in the coming weeks.

To get up to the minute strategic analysis and a unique perspective in the Currency Futures Market simply join me in my LIVE TRADING ROOM. I will break down the Currency Futures Market in unbelievable detail and across multiple time frames. If you are serious about currency futures trading and want a no nonsense approach to the most aggressive markets in the world then simply join me in my LIVE TRADING ROOM.

There is significant risk of financial loss in trading futures and trading futures is not suitable for everyone. You should carefully consider whether such an investment is right for you in light of your financial condition.   

The Currency Futures market is never dull. Currency Day Trader’s day trading currency futures saw some explosive action after the FOMC announcement, but that was expected. The British Pound and Canadian Dollar seem to be trying to hold the current lows, while the Euro Currency broke through a significant area of technical support. The Japanese Yen once again made a new session high, but then sold-off rather quickly after the FOMC announcement.

The daily chart of the March 2010 British Pound futures contract (see chart below) shows that the bulls area holding the line in the vicinity of the 25-day moving average (blue – 1.6128). The question is can the bulls continue to hold this area, or are the bears eyeing the potential stops that could be under this current support area?

The March 2010 Canadian Dollar futures contract (see chart below) continues to trade below the 5-day moving average (red – .9423), which I consider a pivotal area of technical resistance. The question is will the bears continue to utilize the 5-day moving average as a jumping off point to the downside, or can the bulls push the market back above this area possibly creating some technical upside momentum?

The March 2010 Euro Currency futures contract (see chart below) shows the bears were able to break below both the double bottom low (1.4027) and the 52-week moving average (green – 1.4036). Can the bears keep up the pressure, or was today’s push really just a squeeze play?

The March 2010 Japanese Yen futures contract (see chart below) shows a new cycle high (1.1221), but also notice that after making this high the bears were able to seize control and push this market back down over .0100 ticks. You will also notice that in the early hours of the night market the bears have been able to keep the bulls on the defensive, and in my techniocal opiniont the 75-day moving average (green – 1.1212) will be a pivotal technical area and a good gauge of technical momentun tonight.

To get up to the minute strategic analysis and a unique perspective in the Currency Futures Market simply join me in my LIVE TRADING ROOM. I will break down the Currency Futures Market in unbelievable detail and across multiple time frames. If you are serious about currency futures trading and want a no nonsense approach to the most aggressive markets in the world then simply join me in my LIVE TRADING ROOM.

 There is significant risk of financial loss in trading futures and trading futures is not suitable for everyone. You should carefully consider whether such an investment is right for you in light of your financial condition.   

Currency Futures never disappoint, that is if you like fast pace markets. Currency Traders day trading futures were once again seemingly very active. The British Pound, Canadian Dollar and Euro Currency were on the defensive today, while the Japanese Yen once again exploded to the upside.

The daily chart of the March 2010 British Pound futures contract (see chart below) shows the bears were back in control and are once again testing the 25-day moving average (blue – 1.6118).

This area will be a pivotal area of technical support and possibly a good gauge of technical momentum. The question today is the same today as it was in the beginning of the week, can the bulls hold the bears back in the vicinity of the 25-day moving average, or are the bears prepared to crush any support?

The daily chart of the March 2010 Canadian Dollar (see chart below) shows a steep sell-off. I would also like to point that today’s session high (.9482) was only .0007 ticks above the 5-day moving average (.9475), which I consider a pivotal area of technical resistance.

The question for currency trader’s day trading currency futures, specifically the Canadian Dollar futures contract is can the bears maintain downside control, or will the bulls look to counter?

The daily chart of the March 2010 Euro Currency  (see chart below) shows the market reestablished it’s downward march, but is still holding above the double bottom low at 1.4027.

The question for Euro Currency Day Traders is will this market break through the double bottom low, or is this area going to hold to only give way later (the old trap door)?

The daily chart of the March 2010 Japanese Yen futures contract (see chart below) shows that the bulls were able to utilize the area around the 5-day moving average as a launching pad. Will they (bulls) continue to utilize this average as a launching pad, or will the bears look to make a stand? 

To get up to the minute strategic analysis and a unique perspective in the Currency Futures Market simply join me in my LIVE TRADING ROOM. I will break down the Currency Futures Market in unbelievable detail and across multiple time frames. If you are serious about currency futures trading and want a no nonsense approach to the most aggressive markets in the world then simply join me in my LIVE TRADING ROOM.

There is significant risk of financial loss in trading futures and trading futures is not suitable for everyone. You should carefully consider whether such an investment is right for you in light of your financial condition.   

The Currency Futures Market as a whole was little subdued today. Day Traders day trading currency futures found rather tight ranges in several markets, maybe due to both the FOMC meeting and State of the Union coming later in the week. So, what can we expect tomorrow in the currency futures market?

The March 2010 British Pound futures contract (see chart below) shows that the bulls were able to hold the line in the vicinity of the 25-day moving average (blue – 1.6117) and make a recover some loss ground. The question now is can the bulls push this market back above the 5-day moving average (red – 1.6212), or will the bears utilize this area in the market to try and regain control?

The March 2010 Canadian Dollar futures contract (see chart below) shows that the bears were able to pierce last Friday’s low, but were unable to make any real headway. I would like to point out that the 5-day moving average (red – .9484) might be an area the bears try to maintain control at over the next coming day, which in my opinion makes this short-term moving average a pivotal area of technical resistance.

The March 2010 Euro Currency was like watching paint dry. The daily chart (below) shows that the Euro Currency traded very close to the 5-day moving average (the average today was 1.4151) for most of the session and for nearly 4.5 hours the Euro Currency had a .0022 tick range. Like I said, “watching paint dry.” The question now is this pause just an opportunity to get short, or will we the market jump looking to trap weak longs?

The daily chart of the March 2010 Japanese Yen futures contract (see chart below) shows that the bulls seemed to have relaxed today, maybe looking to regroup in the vicinity of the 5-day moving average (red – 1.1069). This average may be the area of support bulls look to get long from, so I will consider this area a pivotal area of technical support.

To get up to the minute strategic analysis and a unique perspective in the Currency Futures Market simply join me in my LIVE TRADING ROOM. I will break down the Currency Futures Market in unbelievable detail and across multiple time frames. If you are serious about currency futures trading and want a no nonsense approach to the most aggressive markets in the world then simply join me in my LIVE TRADING ROOM.

 There is significant risk of financial loss in trading futures and trading futures is not suitable for everyone. You should carefully consider whether such an investment is right for you in light of your financial condition.   

What can currency traders expect this week in the currency futures market? The answer is simple, who knows. Currency Traders last week saw some big reversals off significant areas of technical support, while other currency markets went through keys areas of technical support like a tank through a brick wall.

Let’s first take a look at the British Pound weekly chart (below) and try to determine key areas of technical support and resistance. You can see that the British Pound is currently trading within a bear flag technical formation (outlined in black), which may make a break below the bottom of this formation technically significant.

The March 2010 British Pound futures contract (below) clearly illustrates the sell-off that began last Tuesday after the market ran to 1.6454. The technical question when looking at this daily chart is can the bulls hold the line in the vicinity of the 25-day moving average (blue – 1.6111), or are the bears in position to roll right through this area of projected technical support?

The Canadian Dollar like the British Pound also fell last week and is currently trading at a projected area of technical support (see weekly below).

You will notice that this area of projected technical support is actually the 13-week moving average (blue – .9456), which has acted as a pivotal area of technical support since early 2009. A significant break through this area and the bears might be in position to make a run at the 52-week moving average (green – .8910).

The March 2010 Canadian Dollar futures contract (see chart below) shows the strong downward move that began last week.

This daily chart of the Canadian Dollar (above) shows that the bears were able to push this market through key areas of technical support and now the question is can the bears hold the market below these areas of previous support, or will the bulls be able to regroup and make a stand?

The weekly chart of the Euro Currency (see chart below) clearly shows that the bears were able to push the market right through the last cycle low of 1.4215, but were stopped dead in their tracks at the 52-week moving average (green – 1.4012).

The daily chart of the March 2010 Euro Currency (below) shows that the bears were able to bust right through the bottom of a bear flag technical formation (outlined in black) and now the question is will the bears be able to maintain this downward momentum, or will the bulls try and hold the line in the vicinity of the 52-week moving average (1.4012)?

The weekly chart of the Japanese Yen (see chart below) shows an explosive move from the area around the 52-week moving average (green – 1.0681) a few weeks back.

The question now is will the bulls be able to maintain this upward momentum, or can the bears find an area from which to counter? The daily chart of the March 2010 Japanese Yen futures contract (below) shows that the Japanese Yen exploded through both the 5-day moving average (red – 1.1055) and 75-day moving average (green – 1.1095) on Thursday and Friday of last week. These two averages I will consider pivotal areas of technical support and good gauges of technical momentum.

To get up to the minute strategic analysis and a unique perspective in the Currency Futures Market simply join me in my LIVE TRADING ROOM. I will break down the Currency Futures Market in unbelievable detail and across multiple time frames. If you are serious about currency futures trading and want a no nonsense approach to the most aggressive markets in the world then simply join me in my LIVE TRADING ROOM.

There is significant risk of financial loss in trading futures and trading futures is not suitable for everyone. You should carefully consider whether such an investment is right for you in light of your financial condition.   

Technorati Tags: british pound, canadian dollar, currency futures, Currency Futures Trading, day trading futures, euro currency, japanese yen, Technical Analysis