Currency Futures Trading

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