Currency Futures Trading Thursday’s Currency Action 9/17/09

Discussion in 'Financial Futures' started by Rae, Sep 17, 2009.

  1. Rae


    Another exciting day in currency futures market, which are the most aggressive and exciting markets a trader can participate in. Both the Canadian Dollar and Euro Currency install new weekly highs, while the Japanese Yen sells-off and installs a double bottom low. So, let’s take a quick and closer look at some individual currency futures markets,

    The daily chart of the December 2009 Canadian Dollar futures contract (below) clearly shows the piercing of the technical resistance high at .9405, which might turn out to be a double top high or maybe a prelude of what is to come.


    The daily chart of the December 2009 Euro Currency shows a relentless march upwards (see chart below).


    The question for traders now is how or where can they get long from if they think this market is looking to test the next weekly cycle high of 1.4844?

    The daily chart of the December 2009 Japanese Yen shows that the bears have made an early move (see chart below).


    The question now is if a currency trader wants the downside then the question is from where or how. To get my technical perspective on any currency market send me a private message. I will be posting a Technical Outlook for the December 2009 Euro Currency later this evening.

    There is significant of financial loss when trading futures and options.