More Thoughts on #Aussie #Dollar & #Euro

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Attached is a daily chart of the December Aussie Dollar.

We maintain our short bias and will do so until it can settle above 103.70.

Tomorrow's NFP should be able to provide a significant push to currency pairs and provide more clarity.

102.60 remains our first objective on the downside.

December euro currency continues to compress to a tight triangle consolidation pattern and has potential to break out today or tomorrow.

We will look for a trade above 130.30 or below 128.70 as our signal to jump on the directional move. One thing that is important to remember is that price action immediately following tomorrow's NFP number may be a bit unreliable so we will dismiss as noise without further confirmation...good luck.                                        

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This free trial is open to all for the rest of 2012.                             

                                                               

                                                               

                  

Updated comments on #Aussie #Dollar

Tweet Updated comments on #Aussie #Dollar

Attached is a daily chart of December Aussie Dollar (ADZ2). 

Chinese liquidity injections have provided a short term tailwind for the currency. We will stick with the short position stop out levels that we identified yesterday which were a trade above 103.70 or a settle above 103.60.          

                                                               

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If you trade any of CME Group listed Currency Futures contracts, you should send us a follow request thru http://www.twitter.com/HFT_Currencies

This free trial is open to all for the rest of 2012.                             

                                                               

                                                                

                                                               

More Thoughts on #Aussie #Dollar

Tweet More Thoughts on #Aussie #Dollar

 

Attached is a daily chart of December Aussie Dollar.   

ADZ2 appears to be at the higher end of a consolidation triangle and poised to  head toward initial support of 102.48 and possibly as low as 102.00.

We will consider a short position at current level of 103.10 in anticipation of this.  A trade of 103.70 or a settle above 103.60, and we will stopped out of our shorts.  The trade surrounding 102.48 will be interesting, as we view it as a pivot point.  If this levels gives with little fight, we would add to short looking for quick move to 102.00.

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If you trade any of CME Group listed Currency Futures contracts, you should send us a follow request thru http://www.twitter.com/HFT_Currencies

This free trial is open to all for the rest of 2012.

                                                               

                                                               

                                                               

 

Thoughts on December #Canadian #Dollar

Tweet Thoughts on December #Canadian #Dollar

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 US #Dollar #Index

Tweet Thoughts on US #Dollar #Index

Attached is a chart of the US Dollar Index.

A close today above 80.205 would be a significant bullish signal and suggest an initial move up to 81.25.

If by the end of today this scenario appears likely, it points toward a deeper and more prolonged equity correction, as the two go hand in hand.  As the day progresses, it should become clearer as to which currencies will suffer the most.   At that time we will provide some thoughts as to directional strategies..