Currency Futures Trading

Currency trader’s day trading futures once again witnessed some rather large swings in a few of the currency futures markets on Thursday February 3^rd 2010.  The British Pound and Japanese Yen were relatively quite compared to the Canadian Dollar and Euro Currency. The question going into Friday is where do we go from here? My favorite answer is who knows.

The March 2010 British Pound Futures contract (see daily chart below) continues to whip around the 5-day moving average (red – 1.5655), which in my opinion is a pivotal technical area. If you are looking at the long side in tonight’s session then the 5-day moving average is a pivotal support, which also means if it fails to hold then currency traders might see the market test this week’s low (1.5531). 

The March 2010 Canadian Dollar Futures contract (see daily chart below) took off like a rocket today. The bulls were able to push this market right through both the 25 (blue – .9508) and 75-day (green – .9478) moving averages. You will also notice that the market even broke back through the top a bear flag technical formation. So what now? The 25 and 75-day moving averages will be good gauges of technical momentum as well as pivotal areas of technical support tonight and tomorrow.

The March 2010 Euro Currency Futures contract (see daily chart below) fell like plane that had lost it’s wings. The bears once again seized control of the market, which I speculate was based on external information related to the Euro Zone debt crisis. Because of the debt crisis in the Euro Zone currency traders have witnessed some extreme short-term volatility, which I believe may continue through the holiday weekend.

The March 2010 Japanese Yen Futures contract is trading between the 5-day moving average (red – 1.1151) and 75-day moving average (green – 1.1112). The current pullback from this week’s high (1.1220) might actually be a pause in a prevailing up trend. So, in my technical opinion the 75-day moving average will be a pivotal area of technical support tonight and tomorrow. I would always pay particular attention to the 5-day moving average. If the bulls are able to push the market pass this average then we might see the bulls make a run at this week’s high (1.1220).

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

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

Technorati Tags: CAD USD Futures, Currency Futures Day Traders, Currency Futures Trading, currency traders, day trading futures, Euro Currency futures, live trading room

Once again, day trading futures specifically currency futures was an adventure. Currency Futures Traders watched several markets rally hard after news about the Euro debt crisis. What currency traders saw after the news were missiles, ok currencies jumping up over 50 ticks within 5 minutes and over 140 ticks within an hour. I said it was an adventure to be in the currency futures market today.

The March 2010 British Pound Futures contract (see daily chart below) shows that this market held above yesterday’s low (1.5531) and climbed all the way back through the 5-day moving average (red – 1.5765). In my opinion the 5-day moving average might be a pivotal area of technical support and a potential launching pad to the upside. But if the bulls can’t hold the Biritsh Pound above this area then this market may continue to slide.

The March 2010 Canadian Dollar Futures contract (see daily chart below) also rallied today and like the British Pound climbed above the 5-day moving average (red – .9335) closing today at .9360.

You will also notice that today’s rally put the Canadian Dollar back above a bear flag technical formation, which might mean the break below was a fake to the downside, and if we’re looking at the bigger picture we might say strategically the next upside target would be somewhere near .9476.

The March 2010 Euro Currency Futures contract (see daily chart below) shows a big move up today. The move came after news about the debt crisis in the Euro Zone, which created some very large and quick moves. The question for currency day traders tonight is will the bulls be able to hold the Euro Currency above the 5-day moving average (red – 1.3722), or will the bears once again take control?

The March 2010 Japanese Yen Futures contract (see daily chart below) pulled back today piercing the 5-day moving average (red 1.1186). Is this move just a pause in a prevailing uptrend, or is this pull-back just an opportunity for currency traders to get long?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Technorati Tags: CAD USD Futures, currency trading, day trading futures, live trading room

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

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

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

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

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

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

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

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

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

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

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

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

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

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