Currency Futures Trading

The EUR USD blows through the 5-day moving average (1.3272), which had been a stiff area of technical resistance for the last several weeks. In last night’s currency futures recap I wrote that the kind of move in the Euro Forex might be a good gauge of technical momentum, which turned out to be pretty accurate. The question for commodity traders day trading futures, specifically the EUR USD is do they look to fade this rally or look to jump in on the long side? Looking at the 60-minute chart of the June 2010 Euro Currency Futures contract (see chart below) we can see above today’s high (1.3344) there isn’t much in the way of technical resistance until the area around 1.3400.

The area back in the vicinity of the 5-day moving average (1.3272), which is also in close proximity to the bottom of the bear flag technical formation (outlined in red) will be a pivotal area of technical support. For complete detailed technical analysis for currency futures trading, join me daily in our live trading room. A trading room created by professional traders for traders.

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If you would like just a nightly technical recap, update and outlook for the currency futures market simply sign up for my Nightly Technical Recap, Update and Outlook for the Currency Futures Market.

Opinions expressed are subject to change without notice. I make no promises or guarantees implied or otherwise that utilizing technical analysis in the currency futures market 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: 6E, Commodity Traders, EUR USD: Euro Forex: Euro Futures, Euro Currency futures, live trading room, Technical Analysis

Commodity traders day trading futures, specifically currency futures were again battling near pivotal areas of technical support and technical resistance. The question for commodity traders night trading currency futures is where are the key areas of technical support and resistance? Will currency traders trading the long side of the British Pound Futures (6B) be able to hold on to the upside momentum? And what about commodity traders trading the Japanese Yen (6J), will the bulls have enough to defend the lows around 1.0600 tonight? Remember, currency futures trading is a very fluid market and key levels of support and resistance can change quickly. Let’s take a closer look at the currency futures market and see what we can deduce when looking at the technical structure of the market.

The daily chart of the June 2010 British Pound Futures contract (see chart below) shows that the bulls were able to push the market back above both the 5-day moving average (red – 1.5317) and 25-day moving average (blue – 1.5303), which could be considered an indication of technical strength. The question tonight and tomorrow is will the bulls be able to hold the British Pound above these averages tonight, or was today’s pop up a one day short squeeze?

The daily chart of the June 2010 Canadian Dollar Futures contract (see chart below) shows that the bulls were unable to break above yesterday’s high (.9988), but they were able to hold the Canadian Dollar (6C) above the 5-day moving average (red – .9926). The 5-day moving average I consider a pivotal area of technical support. I also have illustrated a bull flag technical formation (outlined in blue), which might be a good way to gauge technical momentum tonight.

The daily chart of the June 2010 Euro Currency Futures contract (see chart below) shows that the bulls cannot seem to get above the 5-day moving average (red – 1.3252), which has been a stiff area of technical resistance for the last three weeks. This average might be a good gauge of technical momentum tonight in Euro Currency (6E).A break above the average could entice some buyers, but we will have to wait and see.

The daily chart of the June 2010 Japanese Yen Futures contract (see chart above) shows that the bears continue to test the lows around 1.0600, while the bulls continue to defend this area. A break below 1.0600 and we might see a domino type collapse. What is a domino type collapse and are there other areas of technical resistance or technical support that might be seen when utilizing technical analysis in other time frames? For complete detailed technical analysis in the currency futures market, join me daily in our live trading room. A trading room created by professional traders for traders.

For more information on our Live Trading Room….

If you would like just a nightly technical recap, update and outlook for the currency futures market simply sign up for my Nightly Technical Recap, Update and Outlook for the Currency Futures Market.

Opinions expressed are subject to change without notice. I make no promises or guarantees implied or otherwise that utilizing technical analysis in the currency futures market 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: 6B, 6C, 6E, 6J, British Pound futures, Canadian Dollar futures, currency futures, Currency Futures Trading, Euro Currency futures, Japanese Yen futures, Technical Analysis

Commodity traders day trading futures, specifically the EUR USD are caught in a bear flag technical formation (outlined in red) on the 60-minute chart of the June 2010 Euro Currency Futures contract (see chart below). The top of the bear flag technical formation is also in close proximity to the 5-day moving average (1.3280), which has been a stiff area of technical resistance over the last three weeks in the EUR USD. The question for commodity traders trading the Euro Forex now is a simple one. Because the bulls have failed to get above the 5-day average after several attempts today, does that signal technical weakness and does it entice sellers to step in and sell the Euro Futures?

You can see by looking at a TradeFlow™ chart (see chart above)that the bulls have ran into aggressive selling today between two areas. These area are pivotal areas of technical resistance, while a break below the area (red and white rectangle) where buyers were aggressive may trigger short-term downside momentum. For complete detailed technical analysis for currency futures trading, join me daily in our live trading room. A trading room created by professional traders for traders.

For more information on our Live Trading Room….

If you would like just a nightly technical recap, update and outlook for the currency futures market simply sign up for my Nightly Technical Recap, Update and Outlook for the Currency Futures Market.

Opinions expressed are subject to change without notice. I make no promises or guarantees implied or otherwise that utilizing technical analysis in the currency futures market 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: 6E, Commodity Traders, EUR USD: Euro Forex: Euro Futures, Euro Currency futures, live trading room, Technical Analysis

Commodity traders are once again fairly active in the currency futures market. The question for commodity traders day trading futures, specifically currency futures is how to navigate the current short-term volatility when currency futures trading? In my technical opinion, there are two ways to play this kind of short-term volatility. You can either give the market a little more room, which probably isn’t a great plan for commodity traders with smaller trading accounts, or you can keep your stops tight and be more active. 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) shows a pretty good bounce off yesterday’s low (1.5122). You will also notice that the British Pound (6B) is back near the bottom of the bear flag technical formation (outlined in red), which is also in very close proximity to the 5-day moving average (red – 1.5308). This area might be the area where sellers are once again enticed to sell the British Pound, while a break above this area might lead to a short-term short squeeze.

The daily chart of the June 2010 Canadian Dollar Futures contract (see chart below) clearly illustrates a double bottom low between .9789 and .9805, which in my technical opinion is now a pivotal area of technical support. Commodity traders have once again been able to push the Canadian Dollar (6C) back above both the 25-day (blue – .9930) and 5-day (red – .9942) moving averages, which I consider a indication of technical strength. These areas in my opinion will be good gauges of technical momentum and the technical area to watch.

The daily chart of the June 2010 Euro Currency Futures contract (see chart below) shows that the Euro Currency (6E) is again running into stiff technical resistance in the vicinity of the 5-day moving average (red – 1.3280). Will commodity traders who are playing the short side of the Euro defend this area, or will the bulls be able to push the Euro Currency above this area? You will notice that we haven’t been above the 5-day moving average for the last three weeks.

The daily chart of the June 2010 Japanese Yen Futures contract (see chart below) shows that the Japanese Yen (6J) appears to be poised to tumble, technically speaking. Commodity traders who defended the lows around 1.0600 earlier in the week, might be called on to defend again if they failed to exit after the mid week pop. Are there other areas of technical resistance or technical support that might be seen when utilizing technical analysis in other time frames? For complete detailed technical analysis in the currency futures market, join me daily in our live trading room. A trading room created by professional traders for traders.

For more information on our Live Trading Room….

If you would like just a nightly technical recap, update and outlook for the currency futures market simply sign up for my Nightly Technical Recap, Update and Outlook for the Currency Futures Market.

Opinions expressed are subject to change without notice. I make no promises or guarantees implied or otherwise that utilizing technical analysis in the currency futures market 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: 6B, 6C, 6E, 6J, British Pound futures, Canadian Dollar futures, currency futures, Currency Futures Trading, Euro Currency futures, Japanese Yen futures, Technical Analysis

Once again the EUR USD headed south making a new weekly low (1.3117). The weekly chart of the EUR USD (see chart below) clearly shows that commodity traders on the short side have definitively broken through the bottom of a bear flag technical formation (outlined in red), which in my technical opinion is technically significant. The question for commodity traders day trading the Euro Forex now is, is there any hope for a counter move by commodity traders looking for a bounce, or are bears just to strong right now to even consider buying this sell-off in the Euro Futures market?

The 60-minute chart of the June 2010 Euro Currency Futures (6E) contract (see chart above) shows that the commodity traders are trading in a very shallow area of concentrated volume, which in my technical opinion makes for larger short-term swings. The small strip of concentrated volume (gray rectangle between 1.3164 & 1.3214) may provide a good gauge of technical strength later tonight. For complete detailed technical analysis for currency futures trading, join me daily in our live trading room. A trading room created by professional traders for traders.

For more information on our Live Trading Room….

If you would like just a nightly technical recap, update and outlook for the currency futures market simply sign up for my Nightly Technical Recap, Update and Outlook for the Currency Futures Market.

Opinions expressed are subject to change without notice. I make no promises or guarantees implied or otherwise that utilizing technical analysis in the currency futures market 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: 6E, Commodity Traders, EUR USD: Euro Forex: Euro Futures, Euro Currency futures, live trading room, Technical Analysis

What a day in the currency futures market. Commodity traders day trading futures, specifically currency futures were witness to some big moves. The question for commodity traders now is will the downside momentum in the British Pound (6B), Canadian Dollar (6C) and Euro Currency (6E) continue tonight and tomorrow? And how about the Japanese Yen (6J), will the bulls be able to hold on to their momentum? Let’s take a closer look at the currency futures market and see what we can deduce from utilizing technical analysis for commodity traders currency futures trading.

The daily chart of the June 2010 British Pound Futures contract (see chart below) shows that the bears broke through the bottom of a bear flag technical formation (outlined in red) and are now testing the 25-day moving average (blue – 1.5266). The question tonight is will the bulls look to defend and counter from this technical support area, or are the bears targeting last week’s session low (1.5186)?

The daily chart of the June 2010 Canadian Dollar Futures contract (see chart below) shows that anyone holding a long position got crushed today. I had written last week (Currency Futures Trading Recap 4/26/10) that traders looking for an upside breakout through a significant area of technical resistance (weekly chart between .9998 & 1.0298) could get caught in a steep sell-off if the area I had identified as pivotal area of technical support gave way. Well yesterday the Canadian Dollar broke through the 5-day moving average (red – 9924) and today the bears took out the 25-day moving average (blue – .9919), which we haven’t seen since early March 2010. The question now is can the bulls find support somewhere near these lows, or are the bears looking to crush weak longs?

The daily chart of the June 2010 Euro Currency Futures contract (see chart below) shows that the bears broke through last week’s pivotal low (1.3202) and now having nothing below them until the lows around 1.2878. The question tonight is will the bears keep up the technical pressure or look to regroup before making another push to the downside?

The June 2010 Japanese Yen Futures contract (see chart above) shows that the bulls were able not only to push the Japanese Yen back above the 5-day moving average (red – 1.0693), but also above the 25-day moving average (blue – 1.0728). These averages in my technical opinion will be pivotal areas of short-term technical support. Are there other areas of technical resistance or technical support that might be seen when utilizing technical analysis in other time frames? For complete detailed technical analysis in the currency futures market, join me daily in our live trading room. A trading room created by professional traders for traders.

For more information on our Live Trading Room….

If you would like just a nightly technical recap, update and outlook for the currency futures market simply sign up for my Nightly Technical Recap, Update and Outlook for the Currency Futures Market.

Opinions expressed are subject to change without notice. I make no promises or guarantees implied or otherwise that utilizing technical analysis in the currency futures market 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: 6B, 6C, 6E, 6J, British Pound futures, Canadian Dollar futures, currency futures, Currency Futures Trading, Euro Currency futures, Japanese Yen futures, Technical Analysis

The EUR USD has broken through the bottom of a bear flag technical formation on the weekly chart and is down nearly 200 ticks from yesterday’s close (1.3345). The 60-minute chart (see chart below) of the EUR USD clearly illustrates that once the market broke into an area of shallow volume (below gray rectangle) the Euro Forex picked up steam to the downside. The question for commodity traders day trading futures is a simple one. If you were long eArly today and do consider yourself a day trader then it is my suggestion that long day traders step out of the Euro Futures market even if it means taking bigger then average losses.

Remember, you can always get back in the EUR USD if short-term technical indicators turn. It’s also my opinion by stepping out of a bad position you will help yourself bring back objectivity to your analysis of the market. For complete detailed technical analysis for currency futures trading, join me daily in our live trading room. A trading room created by professional traders for traders.

For more information on our Live Trading Room….

If you would like just a nightly technical recap, update and outlook for the currency futures market simply sign up for my Nightly Technical Recap, Update and Outlook for the Currency Futures Market.

Opinions expressed are subject to change without notice. I make no promises or guarantees implied or otherwise that utilizing technical analysis in the currency futures market 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: Commodity Traders, currency futures, day trading futures, EUR USD, Euro Forex, Euro Futures, live trading room, Technical Analysis

Commodity traders day trading futures, specifically currency futures are once again very active today. The question for commodity traders day trading currency futures is, are the reversals we are seeing in the British Pound, Canadian Dollar and Japanese Yen opportunities to fade, or are these reversals a prelude of what is to come? Let’s take a closer look at the currency futures market and see what we can see when utilizing technical analysis to these markets.

The daily chart of the June 2010 British Pound Futures contract (see chart below) shows that the bears are testing the bottom of a bear flag technical formation (outlined in red) after the bulls failed to get above last week’s session high (1.5520). The bears seized the opportunity and have put the bulls on the defensive and the question is will the bears be able to break below the bear flag formation?

The daily chart of the June 2010 Canadian Dollar Futures contract (see chart below) shows a significant sell-off after the bears were able to break below the 5-day moving average (red – .9982), which I had identified as a pivotal area of technical support. The question now is will the bulls defend the area around the 25-day moving average (blue – .9918), or is this going to be a long squeeze meant to punish commodity traders who were playing for an upside breakout?

The daily chart of the June 2010 Euro Currency Futures contract (see chart below) shows that the bears again defended and seized control in the vicinity of the 5-day moving average (red – 1.3352). The question for commodity traders day trading the Euro Currency is will we see a bounce from the early low (1.3278), or will the bears make another downward push keeping the bulls on the defensive?

The daily chart of the June 2010 Japanese Yen Futures contract (see chart above) shows that the Japanese Yen has recovered some lost ground, but has ran into technical resistance in the vicinity of the 5-day moving average (red – 1.0683). Is this area an opportunity to get short, or was last week’s initial break below the bear flag technical formation a bluff to the downside? Are there other areas of technical resistance or technical support that might be seen when utilizing technical analysis in other time frames? For complete detailed technical analysis in the currency futures market, join me daily in our live trading room. A trading room created by professional traders for traders.

For more information on our Live Trading Room….

If you would like just a nightly technical recap, update and outlook for the currency futures market simply sign up for my Nightly Technical Recap, Update and Outlook for the Currency Futures Market.

Opinions expressed are subject to change without notice. I make no promises or guarantees implied or otherwise that utilizing technical analysis in the currency futures market 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: 6B, 6C, 6E, 6J, British Pound futures, Canadian Dollar futures, Commodity Traders, Currency Future Trading, currency futures, day trading futures, Euro Currency futures, Japanese Yen futures, Technical Analysis

Another exciting day in the currency futures market. Once again commodity traders were battling for control and testing both pivotal areas of technical support and technical resistance. The question for commodity traders currency futures trading tonight is will commodity traders see currency markets break out of current technical formations on there way to making new lows and highs? Let’s take a look at the currency futures market and see what we gain from applying technical analysis to the currency futures market.

The daily chart of the June 2010 British Pound Futures contract (see chart below) shows that the British Pound (6B) is testing the top of a bear flag technical formation (outlined in red), which is also in very close proximity to the 75-day moving average (green –1.5475) and last week’s session high (1.5520). A run through this stiff area of technical resistance and the British Pound could be off to the races.

The daily chart of the June 2010 Canadian Dollar Futures contract (see chart below) shows the market taking probably a long awaited breather. The Canadian Dollar (6C) continues to find technical support in the vicinity of the 5-day moving average (red – .9996), which I consider a pivotal area of technical support. A break below this average and traders who have been looking for an upside breakout could get get caught in a fast moving sell-off. The Canadian Dollar could actually come all the way back down to .9701 and the technical structure on the daily chart, which is bullish would still be technically intact.

The daily chart of the June 2010 Euro Currency Futures contract (see chart below) shows a pivotal battle occurring in the vicinity of the 5-day moving average (red – 1.3376), which may turn out to be a good gauge of technical momentum. If the bulls are able to hold the market above this average tonight and early tomorrow morning then we might see added technical buying, being that the Euro Currency (6E) is holding the bottom of a bear flag formation on a weekly chart. A break below the 5-day moving average and it could the beginning of an avalanche that doesn’t stop till the next cycle low of 1.2878.

The daily chart of the June 2010 Japanese Yen Futures contract (see chart above) shows the bears tested last Friday’s low (1.0600) in today’s session, but the bulls did defend the low and held the line (1.0601). The question for commodity traders trading the JPY (6J) tonight is will the bears make another play at the low, or maybe are we seeing a potential trap door to the downside? Are there other areas of technical resistance or technical support that might be seen when utilizing technical analysis in other time frames? For complete detailed technical analysis in the currency futures market, join me daily in our live trading room. A trading room created by professional traders for traders.

For more information on our Live Trading Room….

If you would like just a nightly technical recap, update and outlook for the currency futures market simply sign up for my Nightly Technical Recap, Update and Outlook for the Currency Futures Market.

Opinions expressed are subject to change without notice. I make no promises or guarantees implied or otherwise that utilizing technical analysis in the currency futures market 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: 6B, 6C, 6E, 6J, British Pound futures, Canadian Dollar futures, Commodity Traders, Currency Future Trading, currency futures, day trading futures, Euro Currency futures, Japanese Yen futures, Technical Analysis

It’s time to lock n load because the currency futures market is once again open and commodity traders are back at it. The question for commodity traders trading in the currency futures this week is what to expect, or what to look for while currency futures trading? The first thing to remember is trading currency futures isn’t for the meek or garden-variety-investor and there are never absolutes when trading currency futures. It’s about assessing current technical structures of specific currencies and creating trading ideas based on possible market moves. So, let’s take a look at the currency futures market.

The daily chart of the June 2010 British Pound Futures contract (see chart below) shows that the British Pound (6B) is currently trading within a bear flag technical formation (outlined in red). This chart also shows that the British Pound is currently holding above the 5-day moving average (red – 1.5377), which is the only technical buffer between the bottom of the bear flag formation. I would also like to point that the last cycle high (1.5520) is in very close proximity to the 75-day moving average (green – 1.5484) and the top of the bear flag formation. So what does all this mean? If the bulls area able to push the British Pound back above 1.5520, then it is possible that this kind of move trigger’s more technical buying, but a failure to get above this area and look for the bears to counter.

The daily chart of the June 2010 Canadian Dollar Futures contract (see chart below) shows the market opened Sunday holding above the 5-day moving average (red – 1.0005), which has been a pivotal area of technical support for sometime. Though we did see a rather extreme two-day sell-off below the 5-day moving average, as well as a two-day reversal back above the same average. It’s my technical opinion that when we see an increase in volatility, we might be witnessing the top of a market, or a base from which the market is getting ready to continue it’s prevailing trend.

The daily chart of the June 2010 Euro Currency Futures contract (see chart below) shows that the Euro Currency (6E) installed a new pivotal technical low (1.3202) last Friday, before exploding nearly 200 ticks back to the 5-day moving average (1.3373). The question for commodity traders coming into this week is will the bulls be able to push the Euro Currency back above the 5-day moving average, which we have not seen for the last two weeks? Or will the bears utilize this area in the market to regroup and counter Friday’s rally?

The daily chart of the June 2010 Japanese Yen Futures contract (see chart above) shows that the bears were able to break through the bottom of a bear flag technical formation (outlined in red) last week and on Friday really push the Japanese Yen (6J) down. The question for commodity traders trading the Japanese Yen is will the bulls defend an area above the significant low (1.0558), or arel the bears looking to test this area tonight or Monday?  For complete detailed technical analysis for currency futures trading, join me daily in our live trading room. A trading room created by professional traders for traders.

For more information on our Live Trading Room….

If you would like just a nightly technical recap, update and outlook for the currency futures market simply sign up for my Nightly Technical Recap, Update and Outlook for the Currency Futures Market.

Opinions expressed are subject to change without notice. I make no promises or guarantees implied or otherwise that utilizing technical analysis in the currency futures market 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: 6B, 6C, 6E, 6J, British Pound futures, Canadian Dollar futures, Commodity Traders, currency futures, Currency Futures Trading, Euro Currency futures, Japanese Yen futures, live trading room, Technical Analysis