Euro Currency Futures Update by @JimIuorio

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Attached is a 30-day chart of the March Euro Currency Futures.

As said on Thursday, I have a bullish bias in full.  The upside objective is 135.40....a settle below 133.90 will return to neutral. The fundamental argument includes decent numbers from Germany and a higher than expected repayment of LTRO money.   

 

There also appears to be a exodus from the safety of US Treasuries. Although this could be fueled by several factors there is potential for the market to interpret as a clear "risk on" signal putting a tailwind into the Euro trade.

WEEKLY Support, Pivot & Resistance Levels for ES & NQ

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Updated WEEKLY SPR Chart for $ES_F & $NQ_F

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WEEKLY Support Pivot Resistance Levels for $ES_F & $NQ_F

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Hourly Index Futures with WEEKLY SPR Levels $ES_F $NQ_F

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Final $TLT #PutCallRatio for Tuesday, November, 20, 2012

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Final $TLT #PutCallRatio for Wednesday, November, 14th, 2012

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Final $TLT #PutCallRatio for Monday, November 11, 2012

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Final #TLT #PutCallRatio for Friday, November 9, 2012

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Final #TLT #PutCallRatio for Thursday, November 8, 2012

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Final #TLT #PutCallRatio for Wednesday, November 7, 2012

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Final #TLT #PutCallRatio for Tuesday, November 6th, 2012

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Final #TLT #PutCallRatio for Monday, November 5th, 2012

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Thoughts on December #Canadian #Dollar

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Attached is a chart of December Canadian Dollar.

In this morning's piece we mentioned an inflection point and potential upside breakout in the Dollar Index.  This does not appear likely, at this point, causing us to believe that the full-fledged Dollar rally is on hold.

However, we do believe there may be an opportunity in Canadian Dollar. If CDZ2 settles below

100.28 we will consider a short position as it looks like a bear flag formation has been confirmed.  Downside objective is 98.50-60 with a stop loss on settle above 101.00.  Had the Dollar Index confirmed direction, or, if it does in the future, we will become more confident and add to the shorts in this position.    

                                                               

                                                               

Thoughts on #Aussie #Dollar

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Attached is a daily chart of ADZ2.

Yesterdays weak close triggered a sell signal in Aussie Dollar.  Stronger than expected economic data from Australia has made that a painful position at the moment.  We would now set 

our stops at 2 separate levels.  If ADZ2 trades above 103.00 we would stop out of half of position and if ADZ2 trades above 103.40 we would stop out of balance....

A side note is that we like to see a little time above the stop level before we pull the trigger in order to avoid an algo head fake where stop hunting programs attemp to flush weaker hands..                

                                                               

                                                               

                                                     

Some further thoughts on #Euro #Currency

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Attached is a daily chart of December Euro Currency.

Last week we advocated a long position. We are still comfortable with that position and will 

continue to have an upward bias until a settle below 129.85. 

                                                               

                                                               

                                                               

Thoughts on #Australian #Dollar

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Attached is a daily chart of December Australian Dollar.

Last week we saw a dissapointing Chinese PMI number and had some comments from an Australian Central Bank official favoring a weaker currency.

Unfortuanately the chart has not yet signaled a short entry point.

If ADZ2 looks like it will settle below 102.34, then we will consider a short position with an near term objective of 101.05 with stop loss on a settle back above 103.50.                                                  

                                                               

                                                               

More Thoughts on Canadian Dollar #Currency #Futures by @JimIuorio

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Yesterday I was looking to be short and, although that position was a small
winner, I am much less convinced today.

My concern is that equity markets may move higher and give off a "risk on" signal
that will weigh on the U.S. Dollar.

If I was short CDZ2 I would stop out above yesterdays high of 101.47...Back to the drawing
board today in search of something that will have a bit more follow thru...

Daily Market Commentary

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Daily Market Commentary

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