Currency Futures Market Comments for July 1, 2010
Euro struggles to work higher
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors
CURRIENCIES: 7/01/10 Higher close Wednesday for the Swiss Franc and Japanese Yen but lower for the Canadian Dollar, Euro Fx, British Pound, Ausssie Dollar and dollar index. The euro has been struggling to work higher and still, stubbornly remains a sell while its attempt at forming a bottom is fading away while the franc continues to work higher overall making its highest close since last April settling higher for 15 out of the last 17 trading sessions. The yen also looking strong making its best close since last December. Conversely, the Canadian Dollar continued its downward slide and now is in a support area but longer term in a downtrend. The pound and Aussie dollar also settled lower with the former holding up much better than the latter which is at the cusp of support area but falling 6 out of its last 7 trading sessions. The dollar continues looking toppy with a lower close and in a BEAR TRIANGLE which should mean a continuation of its downward momemtum while ending my buy signal. BUY SIGNALS FOR AUSSIE DOLLAR ALONG WITH THE BRITISH POUND, SWISS FANC AND JAPANESE YEN. SELL SIGNAL FOR THE EURO FX. CALL FOR DETAILS!
