Currency Futures Trading

The EUR USD has popped up and the bulls are currently probing both the 5-day moving average (1.2294) and 4-week moving average (1.2297). The question for commodity traders day trading the Euro Futures (see chart below) is simple, is today’s bounce an indication of real technical strength, or just a pause in a prevailing downward trend? You can see by looking at the 60-minute chart of Euro Forex Futures (see chart below) that I don’t see any significant technical resistance until the highs around 1.2400 (dark blue rectangle); therefore, a push through the area around 1.2300 and we might see a strong, steep and quick rally.

The 5-minute chart of the Euro Futures (see chart above) shows the market trading just below a pivotal area of technical resistance (light blue triangle) and above a more significant area of technical support (middle dark red triangle). The question for traders now is will we see a breakout from this channel today, or just consolidation? How do I define levels and why do we consider levels important. Join me and other professional traders for detailed technical analysis in the currency futures market and discover the power of detailed technical analysis..

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If you are unable join us in the daytime, then join us for our nightly technical recap, update and outlook of the currency futures market. Simply click on the link below and get immediate access to our nightly technical analysis.

Nightly Technical Recaps, Updates and Outlooks for Currency Futures

Opinions Expressed are subject to change without notice. I make no promises or guarantees implied of 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 such an investment is right for you in light of your financial position.

Technorati Tags: EUR USD, Euro Currency futures, Euro Forex Futures, Euro Futures, Technical Analysis

Commodity traders were once again hard at work as the Euro Currency and Canadian Dollar tumbled, while the Japanese Yen surged and the British Pound was somewhat quite. The question for commodity traders currency futures trading tonight is will the weekly trends continue, or are the currency futures markets setting up for some stop and go reversals? Let us take a look at some daily charts and see what can deduce from applying technical analysis.

The daily chart of the September 2010 British Pound Futures (6B) contract (see chart below) shows that the bulls were unable to push through yesterday’s high (1.5130). The question now is can the bulls hold the line in the vicinity of the 5-day moving average (red – 1.5044), or are the bear looking to make a move? A break below the 5-day moving average and we might see some technical selling being that this average has been a pivotal area of technical support since early June. A failure to break below this average and we could see another surge upward.

The daily chart of the September 2010 Canadian Dollar Futures (6C) contract (see chart below) clearly shows a market that dropped from the top of a three-story building. You will notice that the bears were able to break below both the 5 (red – .9570) and 25 (blue – .9608) day moving averages. Also notice that the 5-day moving average has crossed below the 25-day moving average, which is considered technically weak and or bearish. The question tonight is will we see the bulls try and defend the bottom of the pennant technical formation (outlined in green), or was the breakout to the upside just a bull trap?

The daily chart of the September 2010 Euro Currency Futures (6E) contract (see chart below) shows that the bulls failed to defend the 25-day moving average (blue – 1.2230). The bears now appear in position to really push this market lower, being that there is no clear identifiable area of technical support until the low of 1.1884. Can the bulls find an area do defend, or are the bears back in control?

The daily chart of the September 2010 Japanese Yen Futures (6J) contract (see chart above) shows an explosive move to the upside today. You will notice that the bulls were able to push above the last cycle high (1.1260) and now appear poised to test the significant technical high of 1.1381. Will the bulls be able to push above this area, or will we see some sort of pullback before another upward surge? Are there other areas of technical support and resistance that might be seen when utilizing technical analysis in other time frames? For a complete technical review of the currency futures market utilizing some of the most advanced analytical software, please join me and other professional traders for detailed technical analysis in the currency futures market.

For more information on our Live Trading Room

If you are unable join us in the daytime, then join us for our nightly technical recap, update and outlook of the currency futures market. Simply click on the link below and get immediate access to our trading room.

Nightly Technical Recaps, Updates and Outlooks for Currency Futures

Opinions Expressed are subject to change without notice. I make no promises or guarantees implied of 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 such an investment is right for you in light of your financial position.

Technorati Tags: 6B, 6C, 6E, 6J, British Pound futures, Canadian Dollar futures, currency futures, Currency Futures Trading, currency traders, Euro Currency futures, Japanese Yen futures, Technical Analysis

EUR USD blows right through a pivotal technical level (red rectangle in middle of the 60-minute chart) and also takes out the 25-day moving average (blue – 1.2231) as well as last week’s low (1.2216). The 60-minute chart of the Euro Futures (see chart below) clearly shows an aggressive sell-off that began Sunday afternoon and has continued through this morning. Commodity traders looking to play the long side are looking up at a lot of technical resistance, and don’t have much in the way of technical support until 1.2080 (red rectangle on the bottom of the chart). The question for currency traders today is can the bulls muster enough technical momentum today to retest some short-term areas of technical resistance, or are the bears looking to make another downward push in the Euro Forex market at the close of the Globex?

The 5-minute chart of the Euro Futures (see chart above) shows the two-step sell-off we saw this session and also the strong bounce off the low of 1.2157. Can the bulls push the market through the top of today’s area of concentrated volume (1.2217), which may entice short-term short coverings, or are the bears prepared to defend this area? How do I define levels and why do we consider levels important. Join me and other professional traders for detailed technical analysis in the currency futures market and discover the power of detailed technical analysis..

For more information on our Live Trading Room

If you are unable join us in the daytime, then join us for our nightly technical recap, update and outlook of the currency futures market. Simply click on the link below and get immediate access to our nightly technical analysis.

Nightly Technical Recaps, Updates and Outlooks for Currency Futures

Opinions Expressed are subject to change without notice. I make no promises or guarantees implied of 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 such an investment is right for you in light of your financial position.

Technorati Tags: EUR USD, Euro Currency futures, Euro Forex Futures, Euro Futures, Technical Analysis

Currency traders were again active in the currency futures market. Today we saw commodity traders currency futures trading continue to push the British Pound to new cycle highs, while selling the Euro Currency. The question tonight is are we apt to see some pullbacks or was today’s currency action a prelude to what’s to come this week?

The daily chart of the June 2010 British Pound (6B) futures contract (see chart below) shows that this market continues to hold above the 5-day moving average (red – 1.5031), which has been a pivotal area of technical support since the 5-day moving average crossed above the 25-day moving average (blue) in early June. The question tonight is will we see the British Pound pullback to the 5-day moving average, or are the bulls looking to keep the technical upside pressure on?

The daily chart of the June 2010 Canadian Dollar (6C) futures contract (see chart below) shows that this market appears to be coiling just above both the 5 (red – .9631) and 25 (blue – .9609) day moving averages. This coiling in my opinion makes technical sense, because we’ve seen a breakout from a pennant technical formation (outlined in green) then a pullback to support, and now coiling. Coiling in my opinion, is typically seen before the next move, which either confirms the strenght or weakness of the initial breakour.

The daily chart of the June 2010 Euro Currency (6E) futures contract (see chart below) shows that the bulls failed to break through the top of a bull flag technical formation (outlined in blue) today. Today’s failure to break through the top of the bull flag formation might have enticed bears to sell the market (my opinion). You will also notice that the bears were able to break below the 5-day moving average (red – 1.2330 today), which I consider technically weak or bearish.

The daily chart of the June 2010 Japanese Yen (6J) futures contract (see chart above) shows that the bulls continue to hold the Japanese Yen above the 5-day moving average (red – 1.1191), which has been a pivotal area of technical support for the last two weeks. Can the bulls continue to hold this area, or are the bears looking to counter in this vicinity? Are there other areas of technical support and resistance that might be seen when utilizing technical analysis in other time frames? For a complete technical review of the currency futures market utilizing some of the most advanced analytical software, please join me and other professional traders for detailed technical analysis in the currency futures market.

For more information on our Live Trading Room

If you are unable join us in the daytime, then join us for our nightly technical recap, update and outlook of the currency futures market. Simply click on the link below and get immediate access to our trading room.

Nightly Technical Recaps, Updates and Outlooks for Currency Futures

Opinions Expressed are subject to change without notice. I make no promises or guarantees implied of 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 such an investment is right for you in light of your financial position.

Technorati Tags: 6B, 6C, 6E, 6J, British Pound futures, Canadian Dollar futures, currency futures, Currency Futures Trading, currency traders, Euro Currency futures, Japanese Yen futures, Technical Analysis

The Euro USD has broken below two key areas of technical support (5-day moving average 1.2330 & 4-week moving average 1.2310) and now appears poised to challenge the 25-day moving average (1.2239). The 60-minute chart of the Euro Futures contract (see chart below) shows that the bears are trying to push the Euro Futures through an area I consider a significant area of short-term technical support (red rectangle). The question is can the bulls defend this area and look to counter sometime today, or are the bears in position to crush anyone looking to buy the Euro Forex Futures this week?

The 5-minute chart of the Euro Forex Futures (see chart above) shows that the bears have been in control for most of the session, though the bulls did try and hold the line in the vicinity of the 5-day moving average (light red rectangle between 1.2316 & 1.2330). You will notice that once that area gave way the bears didn’t have much in the way of resistance until the lows around 1.2290 (dark red rectangle). How do I define levels and why do we consider levels important. Join me and other professional traders for detailed technical analysis in the currency futures market and discover the power of detailed technical analysis..

For more information on our Live Trading Room

If you are unable join us in the daytime, then join us for our nightly technical recap, update and outlook of the currency futures market. Simply click on the link below and get immediate access to our trading room.

Nightly Technical Recaps, Updates and Outlooks for Currency Futures

Opinions Expressed are subject to change without notice. I make no promises or guarantees implied of 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 such an investment is right for you in light of your financial position.

Technorati Tags: EUR USD, Euro Currency futures, Euro Forex Futures, Euro Futures, Technical Analysis

Currency traders are back from a quick weekend respite and haven’t missed a trading step. For commodity traders currency futures trading the week has started with the British Pound and Canadian Dollar pushing higher, while the Euro Currency and Japanese Yen are trading just below last Friday’s close. The question for currency traders today is what can today tell us about the rest of the week if anything? Let’s take a look at the daily charts of the market and see what we can deduce from applying currency futurestechnical analysis.

The daily chart of the June 2010 British Pound (6B) futures contract (see chart below) clearly illustrates a strong move to the upside that began in early June. You will notice that the bulls were able to push the British Pound through the last cycle high (1.5047) last week and now have clear skies above until around 1.5400. The question now is can the bulls keep the momentum, or will we see a pullback before the bulls really make a play at the highs around 1.5400?

The daily chart of the June 2010 Canadian Dollar (6C) futures contract (see chart below) shows that the market fell hard mid-week, but the bulls were able to defend the area around the 25-day moving average (blue – .9599). The question going into this week is can the bulls hold this area and counter, or are the bears in better technical position to make a move at last week’s low?

The daily chart of the June 2010 Euro Currency (6E) futures contract (see chart below) clearly shows that the Euro Currency is trading within a bull flag technical formation (outline in blue), but failed today to break through the top of this formation. You will notice that the Euro Currency is now trading just above the 5-day moving average (1.2330), which in my opinion will be a pivotal area of short-term technical support. Will the bulls hold this area and make another push, or are the bears in position to strike?

The daily chart of the June 2010 Japanese Yen (6J) futures contract (see chart above) shows a nice breakout from a pennant technical formation (outlined in green). You will notice that the bulls area very close to testing the last cycle high (1.1260), which appears like the next obvious upside target. The question is can the bulls continue to push the Japnese Yen higher this week, or will they (bulls) look to take a short-term breather before making a run at some significant areas of technical resistance? Are there other areas of technical support and resistance that might be seen when utilizing technical analysis in other time frames? For a complete technical review of the currency futures market utilizing some of the most advanced analytical software, please join me and other professional traders for detailed technical analysis in the currency futures market.

For more information on our Live Trading Room

If you are unable join us in the daytime, then join us for our nightly technical recap, update and outlook of the currency futures market. Simply click on the link below and get immediate access to our trading room.

Nightly Technical Recaps, Updates and Outlooks for Currency Futures

Opinions Expressed are subject to change without notice. I make no promises or guarantees implied of 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 such an investment is right for you in light of your financial position.

Technorati Tags: 6B, 6C, 6E, 6J, British Pound futures, Canadian Dollar futures, currency futures, Currency Futures Trading, currency traders, Euro Currency futures, Japanese Yen futures, Technical Analysis

Well it’s good to be back at the frontlines. The currency futures market has been extremely explosive over the last few months and for some currency traders the volatility has been too much to bear. The question for commodity traders currency futures trading is can they navigate this kind of volatility terrain? Let’s first take a step back and look at the big picture of the currency futures market.

The weekly chart of the British Pound futures contract (see chart below) shows that the British Pound (6B) has bounced nicely off the lows around 1.4222 and has actually pierced the 13-week moving average (blue – 1.4885), which currency traders haven’t seen since mid April. The question is can the bulls hold the British Pound above this area, or will the bears look to make another push to the downside?

The weekly chart of the Canadian Dollar futures contract (see chart below) shows that the Canadian Dollar (6C) is trading between a significant pocket of technical support (gray rectangle between .9005 & .9301) and a significant pocket of technical resistance (white rectangle between 1.0064 & 1.0334). The question for currency traders trading the Canadian Dollar is simple; are we apt to see the Canadian Dollar consolidate or is there a breakout pending?

The weekly chart of the Euro Currency futures contract (see chart below) clearly illustrates a semi-strong move from the low of 1.1882, but in my opinion the real test comes near the 4-week moving average (red – 1.2207). The question that I want to know is can the bulls hold the line in the vicinity of the 4-week moving average, or will the bears look to punish anyone trying to buy a bottom longer-term?

The weekly chart of the Japanese Yen futures contract (see chart above) shows the Japanese Yen (6J) trading within a bull flag technical formation (outlined in blue) and actually is close to testing the top of this formation. The question for currency traders now is can the bulls push through this area, or will we see the bears defend and try to counter? Are there other areas of technical support and resistance that might be seen when utilizing technical analysis in other time frames? For a complete technical review of the currency futures market utilizing some of the most advanced analytical software, please join me and other professional traders for a detailed look at the currency futures market.

For more information on our Live Trading Room

If you are unable join us in the daytime, then join us for our nightly technical recap, update and outlook of the currency futures market. Simply click on the link below and get immediate access to our trading room.

Nightly Technical Recaps, Updates and Outlooks for Currency Futures

Opinions Expressed are subject to change without notice. I make no promises or guarantees implied of 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 such an investment is right for you in light of your financial position.

Technorati Tags: 6B, 6C, 6E, 6J, British Pound futures, Canadian Dollar futures, Commodity Traders, currency futures, Currency Futures Trading, currency traders, Euro Currency futures, Japanese Yen futures, Technical Analysis