Currency Futures Trading

Can you say timber? Because if you were currency futures trading today, you saw some currency markets fall like trees that were being chopped down. The Euro Currency and Japanese Yen fell particularly hard, while the British Pound and Canadian Dollar also fell, but found technical support in areas where support was anticipated.

The daily chart of the March 2010 British Pound Futures contract (see chart below) shows that the market sold off at the top of the bear flag formation (outlined by black trend lines), but held above the 5-day moving average (red – 1.5685). The question is will the bulls be able to hold this area (5-day moving average), or will the bears keep up the downside pressure?

The daily chart of the Canadian Dollar Futures contract (see chart below) shows that the bulls were able to hold the Canadian Dollar above the 5-day moving average (red – .9542), which is exactly what we saw in the British Pound. So the question is the same. Can the bulls once again seize control of this market, or can the bears make a push to the downside?

The daily chart of the March 2010 Euro Currency Futures contract (see chart below) looked like a meteor falling from outer space. At 7:00AM Pacific Time the Euro Currency began to slide and by 9:00AM Pacific Time the market had fallen 111 ticks. I always tell traders trading currency futures isn’t for the faint of heart or garden-variety-investor. The question now is are the bears going to make a run at last week’s low (1.3531), or can the bulls find intra-night support and counter today’s extreme sell-off?

The daily chart of the March 2010 Japanese Yen Futures contract (see chart below) clearly illustrates a breakout from two technical formations, which are a bear-flag formation and a pennant formation. The question for currency traders now is was this breakout a real breakout, or a bear trap?

 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, Canadian Dollar futures, Currency Futures Trading, day trading futues, Euro Currency futures, Japanese Yen futures

With one day down and 3 trading days left in the week how did currency traders fare today? The British Pound, Canadian Dollar and Euro Currency all made strong moves to the upside, while the Japanese Yen continued to consolidate. The question for currency traders tonight is where do we go from here?

The March 2010 British Pound Futures contract (see chart below) rallied today testing the top of a bear flag formation (outlined by black trend lines). The question now is can the bulls push the British Pound through this technical formation, or will the bears be able to counter today’s rally?

The March 2010 Canadian Dollar Futures contract (see chart below) exploded from an area I consider a pivotal area of technical support.

You will also notice that the 5-day moving average (red – .9547) has crossed above both the 75(green – .9493) and 25-day (blue .9488 moving averages, which is considered technically bullish. Therefore, the area around the 5-day moving average will be a pivotal area of technical support and a break back below this area could be considered technically bearish.

The March 2010 Euro Currency Futures contract (see chart below) exploded to the upside today. You can see that the next upside target appears to be the high of last week (1.3840) followed by the 25-day moving average (blue – 1.3951).

The question today is was today’s move exaggerated because there was little volume above 1.3968, or was it based on real technical momentum?

The March 2010 Japanese Yen Futures contract (see chart below) shows the Japanese Yen trading with an upward channel or bear flag formation. You will also notice on this chart that there is also a pennant flag formation (outlined by a black and green trend line).

Depending on which way this market breaks may give us an indication which way the market goes and thinking strategically the first move might be the trap?

  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: Currency Futures Trading, day trading futues

After a long weekend in the U.S., Currency Traders prepare for another week in the currency futures market. Currency Traders left off Friday with some markets consolidating, other currency markets pushing higher and one market trying to save itself from the abyss. What is in store for currency futures trading this week? Once again who knowS, but one thing is probable it won’t be for the faint of heart.

The weekly chart of the British Pound Futures (see chart below) clearly illustrates two technical points. The first being a break below a bear flag technical formation (outlined by black trendlines) and a break below a pivotal cycle low (1.5702). The 4-week moving average (red – 1.5736) may turn out to be a good gauge of technical momentum this week.

The weekly chart of the Canadian Dollar Futures (see chart below) shows not only a break below the 13-week moving average (blue – .9465 last week), which has been a strong area of technical support, but also a complete reversal and run back through the same moving average. Does this volatility mean the Canadian Dollar might be losing some technical upside momentum, or was the initial down move a bear trap?  

The weekly chart of the Euro Currency Futures (see chart below) clearly shows a market in the mist of an aggressive sell-off. You can see once currency traders broke through the cycle low of 1.4215, then this market was basically in a free-fall. The question is where will this market find technical support, will it be the 61.8% Fibonacci retracment number, or will it be on news out of the Euro Zone in regard to the debt crisis that stabilizes this market?

The weekly chart of the Japanese Yen Futures (see chart below) shows a market at a crossroads. You can see that several weeks ago the bulls found technical support at the 52-week moving average (green 1.0679 then), from which they were able to rally from, but does this rally have any legs? Or does this rally look more like a bear flag formation, which is a pause in a prevailing 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: Currency Futures Trading, day trading futues