Currency Futures Trading

The Euro USD is up 32 ticks in the early hours of Thursday evening and the Euro USD bulls look poised to retest the high of 1.3549. The question for currency traders tonight is will we see the bulls look to push the Euro Forex up through last week’s high (1.3570), which is also in very close proximity to the 25-day moving average (1.3574)? You can see by looking at the 60-minute chart of the June 2010 Euro Futures contract (see chart below) that above 1.3574 there isn’t much in the way of technical resistance, but back below today’s mid-morning low (1.3507) and the concentrated volume today gets a little thin. But we still have concentrated volume until 1.3494, which in my opinion makes this area a potential night market target.

Below 1.3494, I identify 1.3462, which is the top of the concentrated volume area (top of gray rectangle between 1.3323 & 1.3462) and the 5-day moving average as a pivotal area of technical support. To get my detailed strategic daily analysis in the EURO USD Futures, simply sign up for my Nightly Technical Recaps, Updates and Outlooks for the Euro Currency Futures Market.

If you would like a private presentation on my strategic futures perspective, simply sign up for a Private Presentation and Discover the Power of Strategic Futures Analysis.

Opinions expressed are subject to change without notice. I make no promises or guarantees implied or otherwise that utilizing short-term trading strategies will result in profits or limited losses. There is significant risk of financial loss in trading futures; therefore you should carefully consider whether trading futures is right for you in light of your financial condition.

Technorati Tags: currency futures, Euro Currency futures, Euro Forex, Euro Futures, Euro USD, Futures Traders

The Currency Futures market closes out the month with a bang. Currency Traders day trading futures, specifically currency futures were once again witness to some extreme swings, which is great if you as a currency futures trader are on the right side. But it can be devastating to those futures traders biting off a little more then they can chew. The question now is how does the month of April start?

Will we see the June 2010 British Pound Futures contract (see daily chart below) continue to run in tonight’s trading session, or will the bears look to counter today’s rally? You can see by looking at the daily chart that the next technical area of resistance isn’t until the lone cycle high at 1.5199, while the 25-day moving average (blue – 1.5067) will be a pivotal area of technical support.

The daily chart of the June 2010 Canadian Dollar Futures contract (see chart below) clearly illustrates a break above a bull flag formation (outlined in blue), which may trigger some technical upside momentum. The question for currency traders tonight is can the bulls hold the market above the bull flag formation tonight, or will the bears look to counter today’s rally?

The daily chart of the June 2010 Euro Currency Futures contract (see chart below) shows an explosive move to the upside today. You can see that the Euro Currency bulls defended the 5-day moving average (1.3494 last night), and launched an amazing offensive today. The question now is can the bulls hold onto their momentum, or will the bears counter back and look to recover some lost ground?

The daily chart of the June 2010 Japanese Yen Futures contract (see chart below) shows an explosive move to the downside. You can see that the bears were able to pierce the pivotal technical low of 1.0693, but at this time I consider this a potential double bottom rather then a major move through a pivotal area of technical support. To get my detailed strategic daily analysis in the Currency Futures Market, simply sign up for my Nightly Technical Recaps, Updates and Outlooks for the Currency Futures Market.

If you would like a private presentation on my strategic futures perspective, simply sign up for a Private Presentation and Discover the Power of Strategic Futures Analysis.

Opinions expressed are subject to change without notice. I make no promises or guarantees implied or otherwise that utilizing short-term trading strategies will result in profits or limited losses. There is significant risk of financial loss in trading futures; therefore you should carefully consider whether trading futures is right for you in light of your financial condition.

Technorati Tags: British Pound futures, Canadian Dollar futures, Curency Futures Trading, currency futures, currency traders, day trading futures, Euro Currency futures, Japanese Yen futures

An explosive rally in the Euro USD today appears to have this week’s early high (1.3538) in its’ crosshairs (see chart below). In last night’s technical Update I identified the area in the vicinity of the 5-day moving average (1.3394) as a pivotal area of technical support and an area to watch. Currency Traders day trading futures, specifically the Euro Forex are confronted with a simple question, which is do they jump in on to the long side or look to fade this early rally in the Euro Futures?

Beyond this week’s high (1.3538) the next area of technical resistance that I see is last week’s high (1.3570) and the 25-day moving average (1.3569). This could be a situation where it might be like a domino effect, which if one area technical resistance gives the other areas of technical resistance are is such close proximity they might also give, hence the domino effect. To get my detailed strategic daily analysis in the EURO USD Futures, simply sign up for my Nightly Technical Recaps, Updates and Outlooks for the Euro Currency Futures Market.

If you would like a private presentation on my strategic futures perspective, simply sign up for a Private Presentation and Discover the Power of Strategic Futures Analysis.

Opinions expressed are subject to change without notice. I make no promises or guarantees implied or otherwise that utilizing short-term trading strategies will result in profits or limited losses. There is significant risk of financial loss in trading futures; therefore you should carefully consider whether trading futures is right for you in light of your financial condition.

Technorati Tags: currency futures, Euro Currency futures, Euro Forex, Euro Futures, Euro USD, Futures Traders

Currency Traders speculating in the currency futures market are again confronted with stop and go reversals, as well some currency markets taking off like rockets from Cape Canaveral. Futures Traders day trading futures today, particularly the British Pound and Canadian Dollar, watched these commodity markets test key areas of technical resistance. The question for currency traders tonight is will the British Pound and or the Canadian Dollar be able to break through and or hold above key areas of technical resistance? And what about the Euro Currency and Japanese Yen Futures market? Were the moves we saw in the Euro and Japanese Yen a prelude of what’s to come? Before we try and answer this question let’s take a closer look at the currency futures market.

The daily chart of the June 2010 British Pound Futures contract (see chart below) clearly illustrates that the bulls were not only able to test the 25-day moving average (blue – 1.5062), but were able to push the British Pound above this area. The question for currency traders tonight is will the bulls be able to make another upward push, or is this an opportunity for sellers to come back into the British Pound?

The daily chart of the June 2010 Canadian Dollar Futures contract (see chart below) shows that the Canadian Dollar is testing the top of a bull flag technical formation (outlined in blue), which might trigger some technical upside momentum if the bulls can break through this area. If the bulls are unable to break through this area then I would watch the area around the 5-day moving average as a pivotal technical area.

The daily chart of the June 2010 Euro Currency Futures contract (see chart below) shows that the bears were able to push this market back down to just above the 5-day moving average (red – 1.3377). This average in my technical opinion will be a pivotal technical support area in tonight’s session and a break below this average and we could see technical momentum once again increase to the downside.

The daily chart of the June 2010 Japanese Yen Futures contract (see chart below) shows that this market whipsawed today, taking out the high (1.0834) and low (1.0781) of yesterday’s trading session. You can still see that the bears are defending the area around the 5-day moving average (red – 1.0796), which I consider a pivotal area of technical resistance. To get my detailed strategic daily analysis in the Currency Futures Market, simply sign up for my Nightly Technical Recaps, Updates and Outlooks for the Currency Futures Market.

If you would like a private presentation on my strategic futures perspective, simply sign up for a Private Presentation and Discover the Power of Strategic Futures Analysis.

Opinions expressed are subject to change without notice. I make no promises or guarantees implied or otherwise that utilizing short-term trading strategies will result in profits or limited losses. There is significant risk of financial loss in trading futures; therefore you should carefully consider whether trading futures is right for you in light of your financial condition.

Technorati Tags: British Pound futures, Canadian Dollar futures, Curency Futures Trading, currency futures, currency traders, day trading futures, Euro Currency futures, Japanese Yen futures

The CAD USD is testing the top of a bull flag technical formation (outlined in blue), which might trigger technical upside momentum if currency traders can push the CAD FX market through this technical area (see daily chart below). A break above this technical formation and the next technical target in the CAD Forex could be the top of the bull flag formation (.9938).

The 60-minute chart of the June 2010 Canadian Dollar Futures contract (see chart below) identifies the 24-bar moving average as a good gauge of technical momentum, while the top of the area of concentrated volume (top of middle gray rectangle .9780) and the 5-day moving average (.9778)  as a pivotal area of technical support. The question for currency traders day trading futures, specifically the CAD USD is where can CAD USD bulls look take longs from, or where can bears look to get short?  To get my detailed strategic daily analysis in the CAD USD Futues, simply sign up for my Nightly Technical Recaps, Updates and Outlooks for the Canadian Dollar Futures Market.

If you would like a private presentation on my strategic futures perspective, simply sign up for a Private Presentation and Discover the Power of Strategic Futures Analysis.

Opinions expressed are subject to change without notice. I make no promises or guarantees implied or otherwise that utilizing short-term trading strategies will result in profits or limited losses. There is significant risk of financial loss in trading futures; therefore you should carefully consider whether trading futures is right for you in light of your financial condition.

Technorati Tags: CAD Forex, CAD FX, CAD USD, Canadian Dollar futures, currency traders, day trading futures, Trading Futures

The Euro USD breaks through the topside of a bull flag technical formation and rallies to 1.3538 before reversing and falling back down to earth. The high of 1.3538 turns out to be just below the 4-week moving average (red- 1.3543), which has been a pivotal area of technical resistance (see weekly chart below). The question for currency traders day trading the Euro Forex is can the bulls muster enough technical support to try and counter the current sell-off, or are the bears back in control and looking to make a strong downward push in the Euro Futures?

The 60-minute chart of the June 2010 Euro Currency Futures contract (see chart below) shows the breakout from the bull flag formation (outlined in blue) and the current sell-off. The initial target appears to be the bottom of the bull-flag formation, which is just above the 5-day moving average (1.3388). Is this the area that the bulls are eyeballing for a possible defense in the Euro USD? If you would like live daily or nightly technical recaps of the Euro USD, simply sign up for my Nightly Technical Recaps, Updates and Outlooks for the Euro USD.

 If you would like a private presentation on my strategic futures perspective, simply sign up for a Private Presentation and Discover the Power of Strategic Futures Analysis.

Opinions expressed are subject to change without notice. I make no promises or guarantees implied or otherwise that utilizing short-term trading strategies will result in profits or limited losses. There is significant risk of financial loss in trading futures; therefore you should carefully consider whether trading futures is right for you in light of your financial condition.

Technorati Tags: currency futures, Euro Currency futures, Euro Forex, Euro Futures, Euro USD, Futures Traders

The Euro USD continues to test the 5-day moving average (1.3494), which I identified as a pivotal area of technical support. The question for currency traders day trading futures, or should I say night trading the Euro Forex is will the bears be able to break below the 5-day moving average, or will the bulls defend and counter in this vicinity? The 60-minute chart of the June 2010 Euro Futures contract (see chart below) shows the consolidation at the 5-day moving average, which again in my technical opinion is the place to watch tonight.

A break back above the short-term moving average (red) on the 60-minute chart (above) and we might see the Euro USD test the early night market high of 1.3439. The high of 1.3439 is also where the 24-bar moving average is currently, which makes this area a pivotal area of technical resistance and a potential pullback target. To get my detailed strategic daily analysis in the EURO USD Futures, simply sign up for my Nightly Technical Recaps, Updates and Outlooks for the Euro Currency Futures Market.

If you would like a private presentation on my strategic futures perspective, simply sign up for a Private Presentation and Discover the Power of Strategic Futures Analysis.

Opinions expressed are subject to change without notice. I make no promises or guarantees implied or otherwise that utilizing short-term trading strategies will result in profits or limited losses. There is significant risk of financial loss in trading futures; therefore you should carefully consider whether trading futures is right for you in light of your financial condition.

Technorati Tags: currency futures, Euro Currency futures, Euro Forex, Euro Futures, Euro USD, Futures Traders

The Euro USD held the 24-bar moving average even though the bears tried twice to push this market back below this area. In this morning’s technical update I wrote that the 24-bar moving average might be a good gauge of technical strength. You can see by looking at the 60-minute chart that the Euro Forex bulls defended the mid-morning lows (1.3436), which at the time was in close proximity to the 24-bar moving average. The question tonight is can currency traders, day trading futures, specifically the Euro Futures retest Monday’s session high (1.3503), or will the bears make counter and try and get this market back below the 24-bar moving average?

You will notice that the Euro USD is trading within a bull flag formation (outlined in blue) and a break above this formation and it might trigger some technical upside momentum. If the Euro Currency Futures fails to get above this area, then we might see the bears try and push this market back towards the bottom of this technical formation. I would also like to point out that the bottom of this technical formation might turn out to be in very close proximity to the 5-day moving average, which I would consider a pivotal area of technical support. If you would like live daily or nightly technical recaps of the Euro USD, simply sign up for my Nightly Technical Recaps, Updates and Outlooks for the Euro USD.

If you would like a private presentation on my strategic futures perspective, simply sign up for a Private Presentation and Discover the Power of Strategic Futures Analysis.

Opinions expressed are subject to change without notice. I make no promises or guarantees implied or otherwise that utilizing short-term trading strategies will result in profits or limited losses. There is significant risk of financial loss in trading futures; therefore you should carefully consider whether trading futures is right for you in light of your financial condition.

Technorati Tags: currency futures, Euro Currency futures, Euro Forex, Euro Futures, Euro USD, Futures Traders

Currency Traders day trading futures were once again not disappointed if they like the big swings and fast moving commodity markets. If you were day trading currency futures last Friday the question I have is a simple one. Were you out of the currency futures market, specifically the Euro Currency Futures market if you were short on Friday? And if you didn’t get out on Friday, how you are you holding up today? Another great reason to remember, if you are day trading futures, particularly currency futures don’t change your strategy mid-stream.

The daily chart of the June 2010 British Pound Futures contract (see chart below) shows that the bulls did defend last Friday’s low (1.4790) and were even able to push the British Pound above the 5-day moving average (red – 1.4902). The question now is was today’s rally more about short coverings, or real technical upside momentum? The 5-day moving average will be the area of technical support to watch, while the 25-day moving average appears to be the next technical upside target.

The daily chart of the Canadian Dollar Futures contract (see chart below) shows that the bulls did defend the area around the 25-day moving average (blue – .9734) and have since countered last week’s sell-off. You will also notice that the bulls not only defended the 25-day moving average, but pushed the Canadian Dollar Futures back above the 5-day moving average (red – .9766), which was a pivotal area of technical resistance last week.

The daily chart of the Euro USD Currency Futures contract (see chart below) clearly illustrates a strong second day move to the upside. And just like the British Pound the question is the same, was today’s rally really about technical momentum, or just an exaggerated move because of the lack of concentrated volume between 1.3412 and 1.3494? Today ‘s high (1.3506) as well as the high of Monday’s concentrated volume area (1.3494) will be an area to watch in my technical opinion.

The daily chart of the June 2010 Japanese Yen Futures contract (see daily chart) shows a market that was rather quite. You will notice that the low (1.0781) of today as well of the high (1.0834) of today were inside the high and low of Friday, which makes this an inside day. You will also notice that the close of today (1.0809) was below the 5-day moving average (red 1.0863), which again makes this average a good gauge of technical strength. If you would like live daily or nightly technical recaps of the currency futures market, simply sign up for my LIVE Nightly Technical Recaps, Updates and Outlooks for the Currency Futures Market.

If you would like a private presentation on my strategic futures perspective, simply sign up for a Private Presentation and Discover the Power of Strategic Futures Analysis.

Opinions expressed are subject to change without notice. I make no promises or guarantees implied or otherwise that utilizing short-term trading strategies will result in profits or limited losses. There is significant risk of financial loss in trading futures; therefore you should carefully consider whether trading futures is right for you in light of your financial condition

Technorati Tags: British Pound futures, Canadian Dollar futures, Curency Futures Trading, currency futures, currency traders, day trading futures, Euro Currency futures, Japanese Yen futures

The Euro USD popped up last night to a night market high of 1.3506 before pulling back to last night’s area of concentrated volume (between 1.3426 & 1.3452). The 60-minute chart of the Euro Forex (see chart below) clearly illustrates that the bulls were able to run right through the area between 1.3412 and 1.3494 like a knife through warm butter. This area (between 1.3412 & 1.3494) was very shallow in regard to concentrated volume; therefore in my technical opinion the move through the area was not that technically surprising. The question for currency traders day trading the Euro Futures now is, was the early morning move based on real interest on the long side, or was it more about bears taking some profits off the table?

You will also notice that the Euro Currency Futures is currently trading just above the 24-bar moving average, which might be a technical area to watch if your long, looking to get long or thinking about how to get short the Euro USD Currency Futures. If you would like live daily or nightly technical recaps, updates and outlooks for the Euro USD, simply sign up for a Night Market Technical Recap and Update for the Euro USD Currency Futures Market.

If you would like a private presentation on my strategic futures perspective, simply sign up for a Private Presentation and Discover the Power of Strategic Futures Analysis.

Opinions expressed are subject to change without notice. I make no promises or guarantees implied or otherwise that utilizing short-term trading strategies will result in profits or limited losses. There is significant risk of financial loss in trading futures; therefore you should carefully consider whether trading futures is right for you in light of your financial condition.

Technorati Tags: currency futures, Euro Currency futures, Euro Forex, Euro Futures, Euro USD, Futures Traders