Currency Futures Trading

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..

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

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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 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

Another amazing day in the currency futures market. I have to say for inexperienced commodity traders the current technical terrain and volatility is difficult for experienced commodity traders, so don’t be discouraged if you feel a little out gunned right now. If you are day trading futures, specifically currency futures just remember that things can change quickly and this is good time to reiterate that currency futures trading is very tuff no matter what others may say. This is a very easy time for a commodity trader to find him or her self in trouble quickly and I’m speaking from experience. So, bottom line don’t feel bad if you are not making money right now, just keep the losses tight and don’t think you have to be in the currency futures market just because these markets are moving they way they are.

The daily chart of the June 2010 British Pound Futures (6B) contract (see chart below) shows that the bulls failed to get above 5-day moving average (red – 1.4456), which in my opinion was a sign of technical weakness. Once bulls were repelled we saw hungry bears come into the market feasting on short-term longs. The only technical good news for longs is that the bears have not yet taken out the low of Monday (1.4250), but we might see the bears make a play at that area tonight, so don’t get to excited.

The daily chart of the June 2010 Canadian Dollar Futures (6C) contract (see chart below) shows that the Canadian Dollar was able to pierce the 5-day moving average (red – .9680) today, but came running back through the average like a tiger after a meal. Once again, the bulls are on the defensive and the 75-day moving average (green – .9746) were where they were repelled, so in my opinion bulls will have to push above this area to really change the technical structure of this market.

The daily chart of the June 2010 Euro Currency Futures (6E) contract (see chart below) appears to be a submarine submerged. You will notice that the bulls were able to push above yesterday’s high (1.2417), but were repelled in the vicinity of the 5-day moving average (red – 1.2422). The question now is where is the next downside target, or where might we see some short-term technical support that holds?

The daily chart of the June 2010 Japanese Yen Futures (6J) contract (see chart above) shows that the bulls pierced both yesterday’s low (1.0759) and 5-day moving average (red – 1.0795) today, but than rallied back through these areas later in the day. The question is can the bulls hold the line here, or are the bears going to try to go after the lows of today tonight? Remember, when trading currency futures things can change very, very quickly; therefore get up to the minute analysis join me in my live trading room, where I will break down the currency futures market in unbelievable detail.

For more information on our Live Trading Room….

If you have time for our live trading room, but would like still like an opportunity to get detailed analysis of the currency futures market, then simply sign up by clicking the link 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

Extreme volatility continues in the currency futures market. Commodity traders trading in currency futures were confronted with early momentum to the downside, only to see a stop and go reversals in the British Pound, Canadian Dollar and Euro Currency. While the Japanese Yen pulled back to a pivotal area of technical support. The question for commodity traders currency futures trading tonight is can the bulls continue to make an upward push, and hold the line in the Japanese Yen, or are the bears going to come back with a vengeance tonight?

The daily chart of the June 2010 British Pound Futures (6B) contract (see chart below) clearly illustrates that the bears were in control early, but lost control by the close. Today’s close in my technical opinion is considered technically strong, but can the bulls make a push pass the 5-day moving average (red – 1.4586), which has been a stubborn area of technical resistance?

The daily chart of the June 2010 Canadian Dollar Futures (6C) contract (see chart below) shows that the bears were able to drive down the Canadian Dollar early, but were repelled by the bulls mid-morning. If the bulls are in control I would speculate that they (bulls) would be able to push the Canadian Dollar back above the 5-day moving average (red – .9731). A failure to do so might entice sellers to sell the perceived weakness.

The daily chart of the June 2010 Euro Currency Futures (6E) contract (see chart below) shows the Euro Currency trading in the technical abyss before the bulls decided to come into the market and start buying the Euro. Notice that the close today was back at the top one third of the daily bar, which I interpret as a sign of technical strength. The real test comes at today’s high (1.2417) followed by the 5-day moving average (red – 1.2461). A run through these area and it may trigger some technical buying and short covering., but we will see.

The daily chart of the June 2010 Japanese Yen Futures (6J) contract (see chart above) shows that the bears countered in the vicinity of the 75-day moving average (green  - 1.0910) and pushed the Japanese Yen all the way back to the 5-day moving average (red – 1.0788). Can the bulls hold the line here, or are the bears looking to make an aggressive move to the downside? When trading currency futures things can change very, very quickly; therefore to get up to the minute analysis join me in my live trading room, where I will break down the currency futures market in unbelievable detail.

For more information on our Live Trading Room….

If you have time for our live trading room, but would like still like an opportunity to get detailed analysis of the currency futures market, then simply sign up by clicking the link 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

Currency futures trading is always full of twists and turns. Commodity traders started the week pushing currency futures higher, particularly in the British Pound, Canadian Dollar and Euro Currency only to see these markets fall like a rock by week’s end. While the Japanese opened Sunday sliding back, by Friday the bulls seemed to be back in control. As a technical strategist this market has been very difficult because it seems as though fundamentals are driving markets, thus the large and wicked moves seem to be how large traders are adjusting to assumed risk. So, how can small traders navigate this kind of technical terrain? Let’s first take a closer look at the currency futures market.

The daily chart of the June 2010 British Pound Futures (6B) contract (see chart below) shows that the bears were in complete control by Wednesday, but were unable to break below the significant technical low of 1.4476. Might this failure to break below this low actually turn out to be a technical set-up? I pose this strategic question, how many traders right now are thinking by Sunday and Monday the low of 1.4476 falls to the bears? So maybe the real play is to look for a short-term bounce back up?

The daily chart of the June 2010 Canadian Dollar Futures (6C) contract (see chart below) shows that after the bulls were repelled in the vicinity of the 25-day moving average (blue – .9861) the bears have seized control. The next area of real technical support I can identify is on the weekly chart, which is in the vicinity of the 52-week moving average (.9386). There might be small areas of technical support, but right now in my technical opinion the Canadian Dollar has entered the technical abyss and as I said earlier this week that the high around the 25-day moving average (.9861) might actually turn out to be a cycle high.

The daily chart of the June 2010 Euro Currency Futures (6E) contract (see chart below) shows a complete failure by the bulls to defend a significant area of technical support. The question now is will we the bears go after the next technical downside target (1.2326), which can be seen on a weekly chart? Once again, be cautious when things look to obvious that is the time to most cautious. Remember when we think that the sky is falling, it’s at that very moment the world is saved.

The daily chart of the June 2010 Japanese Yen Futures (6J) contract (see chart above) shows that after a pull-back early in the week the bulls were able to regain control and close the Japanese Yen above a pivotal  area of technical resistance. The question now is can the bulls make another push upward, or will the bears defend the area around the 75-day moving average (green – 1.0917)? When trading currency futures things can change very, very quickly; therefore to get up to the minute analysis join me in my live trading room, where I will break down the currency futures market in unbelievable detail.

 For more information on our Live Trading Room….

If you have time for our live trading room, but would like still like an opportunity to get detailed analysis of the currency futures market, then simply sign up by clicking the link 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

Once again commodity traders day trading futures, specifically currency futures were again either trying to fight the sell-offs in the British Pound, Euro Currency and late sell-off in the Canadian Dollar, or sliding down the slide with the rest of the bears. The Japanese Yen held above a key technical support area and now the question for commodity traders currency futures trading is how to interpret today’s currency price action? Are we apt to see a bounce somewhere, or just more of the same?

The daily chart of the June 2010 British Pound Futures (6B) contract (see chart below) shows that the bears slammed this market hard and we’ve even opened the new session taking out yesterday’s session low (1.4594). The next technical downside target is the low of 1.4476, which if the bears are able to break below then we have entered the technical abyss. The 5-day moving average (1.4769) is still a potential upside retracement target, but the average may come down to the price rather the price pop back to the average.

The daily chart of the June 2010 Canadian Dollar Futures (6C) contract (see chart below) shows that the bulls were repelled in the vicinity of the 25-day moving average (.9865) today. This morning I wrote that today’s close might be a good gauge of technical momentum. Well, the close at the bottom one-third of the daily bar, coupled with the early night market break below the 5-day moving average (.9793) and I interpret this action as technically weak, but remember a push back above the 5-day moving average and today’s sell-off could actually turn out to be a technical dip.

The daily chart of the June 2010 Euro Currency Futures (6E) contract shows the bears testing the significant technical low (1.2525), which has since given way since I began writing tonight’s recap. You will have to look at the weekly chart to see the next level of technical support, which is the lows around 1.2456. Once again tuff to want to step in front of this train, but for traders willing to take shots to the upside, the potential bounce might be a nice ride.

The daily chart of the June 2010 Japanese Yen Futures (6J) contract (see chart above) shows that the bulls were in complete control today. You will also notice that the bulls were able to close the session above both the 25 (1.0735) and 5 (1.0768) day moving averages. Can the bulls keep the momentum? Are there other areas of technical support and technical resistance 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 futures, Currency Futures Trading, day trading futures, Euro Currency futures, Japanese Yen futures, live trading room, Technical Analysis

Commodity traders area again battling near pivotal areas of technical support and resistance in the currency futures market. The bears seem to be in technical control in the British Pound and Euro Currency, while the bulls are holding on in the Canadian Dollar and pushing in the Japanese Yen. The question for commodity traders day trading futures, specifically currency futures is where are the key levels of technical support and resistance that are important for currency futures trading?

The daily chart of the June 2010 British Pound Futures contract (6B) shows that the bears are in complete control, but after the resignation of England’s Prime Minister the sell-off can’t be that suprising. The question for commodity traders today is will the bears look to continue to sell the market, or will the bulls look for technical support and try and counter today’s sell-off?

The daily chart of the June 2010 Canadian Dollar Futures (6C) contract (see chart below) shows that the bulls pushed the market up hard early only to run into stiff technical resistance in the vicinity of the 25-day moving average (blue – .9874). The question now is today’s high (.9891) the high of this current cycle? The close will be something I pay close attention for daily momentum.

The daily chart of the June 2010 Euro Currency Futures (6E) contract (see chart below) shows that the bears continue to push, but bulls are defending in little pockets of intraday technical support. The 5-day moving average (red – 1.2682) might be a potential upside target if we can find enough technical support to launch a counter from.

The daily chart of the June 2010 Japanese Yen Futures (6J) contract (see chart above) shows that the bears made a move to the downside, but were quickly overrun by the bulls. You can see that the bulls pushed hard from the low (1.0681) and are currently probing the area around the 5-day moving average (red – 1.0792). Are there other areas of technical support and technical resistance 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 futures, Currency Futures Trading, day trading futures, Euro Currency futures, Japanese Yen futures, live trading room, Technical Analysis

Commodity traders who are day trading futures have seen some huge move in the last several days. So today’s rather quite currency futures market compared to the last several days might be a good opportunity to clear the mind and reassess the big picture. Commodity traders who are currency futures trading not only have to be agile, but also have to have nerves of steel. What levels of technical support and resistance are important to watch tonight and tomorrow morning?

The daily chart of the June 2010 British Pound Futures (6B) contract (see chart below) shows that the bulls were not only able to hold the British Pound above the 5-day moving average (red – 1.4884), but were also able to close the Globex session above this average. I interpret this as a sign of technical strength and in my opinion this area will be a pivotal area of technical support tonight.

The daily chart of the June 2010 Canadian Dollar Futures (6C) contract (see chart below) shows that the bulls got close to testing the 25-day moving average (blue – .9879) today, but were repelled by the bears in the late morning. The question tonight for commodity traders is will the bulls look to make another push and from where, or is there an area of technical resistance on another time frame that is technically significant?

The daily chart of the June 2010 Euro Currency Futures (6E) contract (see chart below) clearly illustrates that the bears are in complete control and appear poised to make another downward push. It’s my opinion, that the 5-day moving average (red – 1.2702) might be a good gauge of technical momentum tonight and or early tomorrow. A break above this average and we might see bulls technically enticed.

The daily chart of the June 2010 Japanese Yen Futures (6J) contract (see chart above) shows that the bulls did defend the area around the 25-day moving average (blue – 1.0733), but also ran into technical resistance in the vicinity of the 5-day moving average (red – 1.0859). It’s quite possible that we see consolidation between these two area for the next few days.  Are there other areas of technical support and technical resistance 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 futures, Currency Futures Trading, Euro Currency futures, Futures Trading, Japanese Yen futures, live trading room, Technical Analysis

The EUR USD is holding within an area of concentrated volume (gray rectangle between 1.2670 & 1.2772). Commodity traders who were long early in the EUR USD tested a pivotal area of technical resistance only to be repelled by the bears (see chart below). The question for commodity traders today is will the bulls defend an area of technical support (between 1.2693 & 1.3670), before making another push at this morning’s high (1.2750)? Or are the bears looking to break below the area of concentrated volume and then make a play at the lows around 1.2600 in the Euro Futures market?

I would like point out for commodity traders who are trading the Euro Forex Futures, stay very vigilant, because we are in a period of large volatility and things can change very, very quickly.  To get up to the minute analysis and help identify other areas of technical support and technical resistance that might be seen in other time frames or charting applications, simply sign up for our live trading room.

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, EUR USD, Euro Forex, Euro Futures, Technical Analysis

Even though we’ve started a new week in the currency futures market, the volatility has carried over from last week. Commodity traders day trading futures were again witness to some big moves and we may see this kind of volatility continue for traders who are currency futures trading for the rest of the week. What can we see when we apply technical analysis to the currency futures market tonight and tomorrow morning?

The daily chart of the June 20101 British Pound Futures contract (see chart below) shows that the bulls were able to hold on to the upside momentum that they found on Friday, but lost it by mid-morning. You can see that the bulls were able to push the British Pound (6B) above the 5-day moving average (red – 1.4948), but couldn’t hold the British Pound above that area by the Globex close. The question for commodity traders tonight is will the bears look to make another downward push, or will the bulls look to defend an area of technical support yet to be identified?

The daily chart of the June 2010 Canadian Dollar Futures contract (see chart below) clearly shows that the bulls were able to hold on to the upside technical momentum that they found on Friday today. You will notice that the bulls pushed the Canadian Dollar (6C) back above both the 5-day (red – .9667) and 75-day (green – .9717) moving averages. These areas in my technical opinion will be a technical area to watch over the next few days.

The daily chart of the June 2010 Euro Currency Futures contract (see chart below) shows another big move. The Euro Currency Futures (6E) opened Sunday running hard to the upside, only to be sold off aggressively later in the day. This market continues to be susceptible to news out of Greece and may continue to trade wildly for the next few days or maybe even weeks.

The daily chart of the June 2010 Japanese Yen Futures (6J) contract (see chart above) show that the bulls are defending the area around the 25-day moving average (blue – 1.0725). The question for commodity traders tonight is will the bulls be able to launch a counter move from here, or are the bears looking to keep up the technical downside pressure?   Are there other areas of technical support and technical resistance 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 futures, Currency Futures Trading, Euro Currency futures, Futures Trading, Japanese Yen futures, live trading room, Technical Analysis