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..

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

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 watched the EUR USD take off like a rocket from Cape Canaveral today. The daily chart of the September 2010 Euro Currency Futures contract (see chart below) clearly illustrates a huge move back through the top of a bull flag technical formation (outlined in blue). The question now is do currency traders try and jump on this long train, or should currency traders wait for a pullback? There is also the possibility that today’s rally in the Euro Forex Futures turns out to be a short squeeze, but I wouldn’t be that aggressive in wanting to fade today’s rally.

In yesterday’s EUR USD update (“EUR USD: Euro Futures: Euro Forex Futures Update 6/30/10”) I wrote that if the bulls could push the Euro Currency above 1.2300 we might see a strong, steep and quick rally (see 60-minute chart above). Well, you can see by looking at the 60-minute chart above, that once the bulls blew above this area (1.2300) the Euro Currency bulls never looked back. They (bulls) were also able to blow right through a significant level (dark blue rectangle) and were even pierced last week’s high (1.2477); all this in one trading session. This kind of day is why I always talk about staying focused, flexible and remembering that trading futures is a marathon not a sprint. 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

The EUR USD has popped up and the bulls are currently probing both the 5-day moving average (1.2294) and 4-week moving average (1.2297). The question for commodity traders day trading the Euro Futures (see chart below) is simple, is today’s bounce an indication of real technical strength, or just a pause in a prevailing downward trend? You can see by looking at the 60-minute chart of Euro Forex Futures (see chart below) that I don’t see any significant technical resistance until the highs around 1.2400 (dark blue rectangle); therefore, a push through the area around 1.2300 and we might see a strong, steep and quick rally.

The 5-minute chart of the Euro Futures (see chart above) shows the market trading just below a pivotal area of technical resistance (light blue triangle) and above a more significant area of technical support (middle dark red triangle). The question for traders now is will we see a breakout from this channel today, or just consolidation? 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

EUR USD blows right through a pivotal technical level (red rectangle in middle of the 60-minute chart) and also takes out the 25-day moving average (blue – 1.2231) as well as last week’s low (1.2216). The 60-minute chart of the Euro Futures (see chart below) clearly shows an aggressive sell-off that began Sunday afternoon and has continued through this morning. Commodity traders looking to play the long side are looking up at a lot of technical resistance, and don’t have much in the way of technical support until 1.2080 (red rectangle on the bottom of the chart). The question for currency traders today is can the bulls muster enough technical momentum today to retest some short-term areas of technical resistance, or are the bears looking to make another downward push in the Euro Forex market at the close of the Globex?

The 5-minute chart of the Euro Futures (see chart above) shows the two-step sell-off we saw this session and also the strong bounce off the low of 1.2157. Can the bulls push the market through the top of today’s area of concentrated volume (1.2217), which may entice short-term short coverings, or are the bears prepared to defend this area? 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

The Euro USD has broken below two key areas of technical support (5-day moving average 1.2330 & 4-week moving average 1.2310) and now appears poised to challenge the 25-day moving average (1.2239). The 60-minute chart of the Euro Futures contract (see chart below) shows that the bears are trying to push the Euro Futures through an area I consider a significant area of short-term technical support (red rectangle). The question is can the bulls defend this area and look to counter sometime today, or are the bears in position to crush anyone looking to buy the Euro Forex Futures this week?

The 5-minute chart of the Euro Forex Futures (see chart above) shows that the bears have been in control for most of the session, though the bulls did try and hold the line in the vicinity of the 5-day moving average (light red rectangle between 1.2316 & 1.2330). You will notice that once that area gave way the bears didn’t have much in the way of resistance until the lows around 1.2290 (dark red rectangle). 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 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: EUR USD, Euro Currency futures, Euro Forex Futures, Euro Futures, Technical Analysis