Currency Futures Trading

Commodity traders were again battling for position in the currency futures market. Today we watched markets like the British Pound Futures continue its’ voyage into outer space, while the Canadian Dollar fell from the top of a mountain peak. The question for commodity traders currency futures trading is, can the bulls defend pivotal technical areas in markets like the Canadian Dollar, or are bears getting ready to jump into markets like the British Pound Futures? Let’s take a closer look at the currency future market and see what we can deduce from today’s currency futures trading action.

The daily chart of the September 2010 British Pound Futures (6B) contract (see chart below) shows that the bulls continue to be in control and appear poised to test a significant area of technical resistance (52-week moving average 1.5486). A failure to push through this area and we might see bulls take some profits off the table as well as bears come into the market looking for a short-tem pullback.

The daily chart of the September 2010 Canadian Dollar Futures (6C) contract (see chart below) shows that the bulls lost some technical steam, but are holding the line in the vicinity of the 5 (red – .9646) and 75-day (green – .9649) moving averages. Technically speaking, because the bears were able to close the market below this area today, then I consider that technically weak and or bearish. The question is can the bears defend the area around the 5 and 75-day moving averages tonight, or will the bulls make a stand and another push?

The daily chart of the September 2010 Euro Currency Futures (6E) contract (see chart below) shows that Euro Currency appears to be consolidating between this week’s high (1.3046) and the 5-day moving average (red – 1.2976). The winner of this battle might be determined by which side gives way first, or maybe the market spikes through both areas taking out stops on both sides before deciding on a direction.

The daily chart of the September 2010 Japanese Yen Futures (6J) contract (see chart above) shows the bears are testing the bottom a modified bear flag technical formation (outlined in blue), which is also in close proximity to the 25-day moving average (blue – 1.1394). This average (25-day) might turn out to be a good gauge of technical momentum and a good indication of direction next week.  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 The Futures Trading Network

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

After a nice little weekend break currency traders are back at the front lines. Once again we are seeing the U.S. Dollar get hammered across the board as currency traders take long positions in markets like the Euro Currency and Canadian Dollar. The question for traders currency futures trading is will the dollar continued to sell-off this week, or will we see reversals of fortunes? Let’s take a look at the daily charts of the currency futures market and see what we can deduce from today’s action.

The daily chart of the September 2010 British Pound (6B) Futures contract (see chart below) shows that the bulls are in a strong upward push and have pierced the top of an upward channel (outlined in red). You will also notice that the bulls defended the area around the 25-day moving average (blue – 1.5159) twice in the last thirty days (gray eclipses). The question today is will we see the British Pound pullback to the 5-day moving average (red – 1.5321), before continuing its’ upward march?

The daily chart of the September 2010 Canadian Dollar (6C) Futures contract (see chart below) clearly illustrates that the bulls are testing the top of a pennant technical formation (outlined in green). A run through this area and we might see buyers technically enticed, but a failure to run through this area and we might see bears make a technical move.

The daily chart of the September 2010 Euro Currency (6E) Futures contract (see chart below) shows that the bulls are in control and look to be eyeing last week’s high (1.3029). The question for currency traders now is, will the bulls make a move for this area today or tonight, or will a failure to run through this area entice sellers to defend?

The daily chart of the September 2010 Japanese Yen (6J) Futures contract (see chart above) shows currency traders battling within a modified bull flag formation (outlined in blue). This formation may turn out to be a good gauge of technical momentum, at least for the coming week. 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 The Futures Trading Network

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 currency futures market continues to be (in my humble opinion) one of the most exciting and aggressive markets in the world, which could mount to serious trouble if you get cocky or lazy with your trading. Once again, commodity traders are baring witness to some rather large stop and go reversals. The question for commodity traders day trading futures, particularly for those currency futures trading, are we apt to see two days in one direction or just more whipsawing? Let’s take a step back and look at the daily charts of some of the currency futures markets.

The daily chart of the September 2010 British Pound Futures (6B) contract (see chart below) clearly shows the market trading between the 5-day moving average (red – 1.5245) and the 25-day moving average (blue – 1.5106), which we might see continue through Friday and early next week. The question is if the market can push above the 5-day moving average, will that entice buyers or sellers looking for another stop and go reversal?

The daily chart of the September 2010 Canadian Dollar Futures (6C) contract (see chart below) shows that the bulls did defend the area around the 5-day moving average (red .9536) and actually used the area as a launching today. The question now is can the bulls muster enough technical momentum to test the top of the pennant technical formation (outlined in green), or will we see this market continue to whipsaw?

The daily chart of the September 2010 Euro Currency Futures (6E) contract (see chart below) shows a huge move from yesterday’s session low (1.2731). The question now is can the bulls make another push at this week’s high (1.3029), or are the bears lying in wait? The close of the Globex might give us a technical indication of strength for tonight’s trade.

The daily chart of the September 2010 Japanese Yen Futures (6J) contract (see chart above) clearly illustrates a breakout from a bull flag technical formation (outlined in blue). The next viable target appears to be last week’s high (1.1600), 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 The Futures Trading Network

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 EUR USD broke below the 5-day moving average (red  - 1.2898) and is down over 80 ticks in early trade (see daily chart below). Commodity traders who are day trading futures, particularly the Euro Forex Futures might have been enticed to sell the market once the market fell back through the 5-day moving average last night. The question for currency traders now is do they fade the sell-off, or try and jump on the short train in the EUR USD?

The 60-minute chart of the Euro Currency Futures (see chart above) shows the market currently trading within a very thin area of volume support (third red rectangle up from the bottom), which is also the only technical buffer before the next level of potential technical support (in the area of 1.2700). Will the bulls be able to hold this area, or will a break below this area entice more short-term selling? 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 The Futures Trading Network

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: Commodity Traders, currency traders, day trading futures, EUR USD, Euro Currency futures, Euro Forex Futures, Euro Futures, Technical Analysis

The EUR USD reverses direction last night and comes tumbling down this morning (see 60-minute chart below). Commodity traders day trading futures, particularly the Euro USD have watched the market run through a pivotal level of technical resistance (blue rectangle on the left of the 60-minute chart) and then reverse right back down and break through a pivotal level of technical support (top red rectangle on the left of the 60-minute chart). You will also notice that the market reestablished a new level of thin technical support and new level of thin technical resistance (thin blue rectangle), but the market has since broken through the thin level of resistance and appears potentially poised to retest the top level of resistance. An exciting, but challenging day for trend traders today.

The 5-minute chart of the Euro Forex Futures contract (see chart below) clearly illustrates the sell-off and bounce that occurred today. The question for commodity traders now is, will traders see another retest of the top level of technical resistance, or will the market coming crashing back below the 5-day moving average and entice more sellers? 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 The Futures Trading Network

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 are coming back from an extra hot weekend and are seeing a mixed bag in the currency futures market. The question for traders currency futures trading this week is, will currency traders see a continuation of the daily trends that we saw last week in the British Pound and Euro Currency? And how about the two day power move in the Japanese Yen, was that the beginning of a second stage to this rally that started when the bulls brokeoug of a pennent techncal formation (outlined in green)? And what about the Canadian Dollar? Will commodity traders continue to see this market trade between the last cycle lows (.9357 & .9361) and cycle high (.9726), or is a breakout looming? Let’s take a closer look at the currency futures market and see what we can deduce when utilizing technical analysis.

The daily chart of the September 2010 British Pound Futures (6B) contract (see chart below) shows that the bears have been able to break below the 5-day moving average (red – 1.5283), which in my technical opinion is a technical indication that the British Pound might be losing some upside technical momentum. The question for commodity traders going forward is will the bulls look to defend the area around the 25-day moving average (blue – 1.5053), or are the bears looking to make a play for 1.4946?

The daily chart of the September 2010 Canadian Dollar Futures (6C) contract (see chart below) shows that the bears defended the rally in the vicinity of the 75-day moving average (.9682). You will also notice that the bulls were unable to hold the line near the 5 (red – .9584) or 25-day (blue – .9596) moving averages. Unless the bulls are able to establish a new level of technical support the next downside target appears to be the double bottom low between .9357 and .9361.

The daily chart of the September 2010 Euro Currency Futures (6E) contract (see chart below) shows the bulls have once again defended the area around the 5-day moving average (red – 1.2858), which has been a pivotal area of technical support. This chart is extremely bullish and any attempt to fade this rally may turn out to be futile, though a break back below the 5-day moving average and we might see a quick pullback to the 75-day moving average (green – 1.2697).

The daily chart of the September 2010 Japanese Yen Futures (6J) contract (see chart above) shows that the Japanese Yen is trading inside last Friday’s bar, which might mean consolidation before a breakout. The question for currency traders is, which way does the breakout occur? 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 The Futures Trading Network

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 live 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: 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 EUR USD takes off from Cape Canaveral and looks as though it will be in orbit by the close. Commodity traders daring to step in front of this truck this morning have been basically run over. The 60-minute of the September 2010 Euro Futures (see chart below) shows that the bulls have run into a level, which I consider a significant volume level of technical resistance. The question now is, can the bulls run through this area, or will the bears defend this level in the Euro Forex?

The 5-minute chart of the EUR USD futures (see chart above) clearly shows the explosive move we saw this morning. When looking at this chart you will notice that there are no areas of technical resistance above today’s thin level (blue rectangle). Will we see a pullback by the close or are the bulls going to be in orbit by the close? 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

Commodity traders were back from the weekend and once again very active in the currency futures market. The question I have today is; is the activity we are seeing of late based on real technical strength, or is it because July tends to be vacation time for many traders and maybe what we’re seeing is lighter then normal volume? Will we continue to see the Canadian Dollar and Euro Currency surge upward, while the British Pound and Japanese Yen pull back? Let’s take a closer look at the currency futures market and see what we can deduce from applying technical analysis for traders currency futures trading.

The daily chart of the September 2010 British Pound Futures (6B) contract (see chart below) shows that the bears were in control early, but the bulls defended the area in the vicinity of the 75-day moving average (green – 1.4946). The question tonight is, will we see the bulls try and reestablish their upward trend, or are the bears in position to make another play to the downside?

The daily chart of the September 2010 Canadian Dollar Futures (6C) contract (see chart below) shows that the bulls continue to be in control, but were turned away in the vicinity of last week’s high (.9706), which just also happens to be in very close proximity to the 75-day moving average (green – .9700). The question tonight is, will we see consolidation between the averages, or is this market poised for a breakout to the upside?

The daily chart of the September 2010 Euro Currency Futures (6E) contract (see chart below) clearly illustrates that the bears were able to seize control of the market today. You will notice that they (bears) were able to break below the 5-day moving average (red – 1.2634), which commodity traders haven’t seen for the last several weeks. The question for commodity traders tonight is, can the bears keep up the technical pressure, or will the bulls look to regroup and continue their (bulls) march upward?

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The daily chart of the September 2010 Japanese Yen Futures (6J) contract (see chart above) shows that the bears made another move to the downside, but by the close the bulls had made a nice intra-day counter. The question for commodity traders tonight is can the bulls maintain their late momentum, or will the bears defend the Japanese Yen in the vicinity of the 5-day moving average (red – 1.1323)? 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

Currency traders seemingly are always confronted with swift markets and market conditions that are constantly changing. This is why I always like to remind commodity traders that currency future trading is not for the meek or garden-variety-investor, but for those individuals who dare to think outside the box. Today we saw weekly trends continue in the Canadian Dollar and Euro Currency, while the British Pound consolidated and the Japanese Yen continued its’ reversal to the downside. Let’s take a closer look at the currency futures market and see what we can deduce when applying technical analysis.

The daily chart of the September 2010 British Pound Futures (6B) contract (see chart below) shows that the bulls were able to make a new weekly high (1.5248), but by the close either the bears were countering or the bulls were taking profits. You will notice that the British Pound continues to trade below the 5-day moving average (red – 1.5130) and even closed below that average today. Are these breaks below the 5-day moving average an indication the British Pound is losing some steam, or just an opportunity for bulls to get long?

The daily chart of the September 2010 Canadian Dollar Futures (6C) contract (see chart below) shows that the bulls continue to push this market up and were even able to pierce the 25-day moving average (blue – .9594). The question tonight and tomorrow is will the bulls make another push upward, or will we see some profit taking going into the weekend?

The daily chart of the September 2010 Euro Currency Futures (6E) contract (see chart below) shows that the bulls launched another attack from the vicinity of the 5-day moving average (red- 1.2611 today) and now appear poised to test the 75-day moving average (green – 1.2752). The question tonight is will the 5-day moving average continue to be an area from which the bulls launch from, or are the bears in position to strike?

The daily chart of the September 2010 Japanese Yen Futures (6J) contract (see chart above) shows that the bears continued to sell the market today. Notice that once the 5-day moving average fell the market seemed to have gained steam to the downside. Can the bears continue to apply pressure, or will the bulls look to find support and then 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 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

Welcome back to the most aggressive markets in the world. Commodity traders currency futures trading were again witness to some explosive moves in the currency futures market, as well as some quick stop and go reversals. The question for currency traders tonight is will these weekly trends continue in markets like the Euro Currency and Canadian Dollar, or will we see some pullbacks like that started today in the Japanese Yen? Let’s take a closer at the currency futures market and see what we can deduce while applying technical analysis.

The daily chart of the September 2010 British Pound Futures (6B) contract (see chart below) clearly shows the 5-day moving average (red – 1.5170) has acted somewhat as a technical support area since early June. You will also notice that the 5-day moving average has crossed above the 75-day moving average (green – 1.4944), which is considered technically bullish. The question for currency traders trading in the British Pound tonight is will the bulls defend the area around the 5-day moving average, or will a break below this average entice sellers?

The daily chart of the September 2010 Canadian Dollar Futures (6C) contract (see chart below) shows that the bulls have made a strong move from the area around .9360. The question tonight and tomorrow is can the bulls hold onto the upside momentum, or will the bears look to counter and retest the lows around .9360?

The daily chart of the September 2010 Euro Currency Futures (6E) contract (see chart below) shows that the bulls are holding the Euro Currency above the 5-day moving average (red – 1.2601), which in my technical opinion might be a very good gauge of technical momentum. You will also notice that the Euro Currency appears poised to retest the last cycle high of 1.2684, but remember in my strategic opinion when things look obvious it’s a good idea to look at other possibilities.

The daily chart of the September 2010 Japanese Yen Futures (6J) contract (see chart above) shows that the Japanese Yen started the session pushing upward, but then suddenly stopped and reversed. You will notice that since the Globex has reopened the bears are continuing to sell this market. The question is can they (bears) make a real move to the downside, or will this sell-off turn out to be a short-term long squeeze? 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