Update 2 for Euro Currency by @JimIuorio

Tweet Update 2 for Euro Currency by @JimIuorio

Attached is a chart of December Euro Currency (ECZ2).

We maintain our short bias and will do so until we have settlement above 128.25.

We still believe that fiscal cliff uncertainty will force the dollar higher and the market may recycle      European headlines that could disproportionately weaken the Euro.  We are not suggesting that there are not real and new problems in Europe.  We are only pointing out the markets tendency to justify moves with hand picked headlines.    

                                                                                                                          

----------------------------------------------------------------------------------------------------------------------

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.                  
                                                               
                                                    

                                                               

Update on December Euro Currency

Tweet Update on December Euro Currency

Attached is a daily chart of December Euro Currency (ECZ2).

On Friday we initiated a short bias from 128.70.  This morning's price action has provided incentive to increase shorts with an eye on 126.00 as objective.  The election has caused a rush to the safety of the US Dollar and Treasuries.  A resurfacing of negative European headlines should cause the Euro to be disproportionately punished compared to other currencies.

                                                             
----------------------------------------------------------------------------------------------------------------------

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.                  
                                                               

Comments on Euro Currency

Tweet Comments on Euro Currency

Attached is a daily chart of December Euro Currency (ECZ2).

There has been a clean breakout of the previous support levels around 128.30.

At this point we  would move our stop loss to a settle above 128.92.  Ongoing uncertainty could 

result in money moving into the U.S. Dollar and, so far, the Euro has been  the first to be cast aside. Oddly, the fiscal cliff, which would be negative to the U.S. economy, would benefit the Dollar because of the reflexive "risk-off" habit of market participants.                                          

                                                               

                                                               
----------------------------------------------------------------------------------------------------------------------

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.                  

                                                               

Comments on Aussie Dollar

Tweet Comments on Aussie Dollar

Attached is a 30 day chart of December Aussie Dollar (ADZ2).

We have maintained a short bias for several days with little satisfaction and several brushes with stop levels. At this point we will will tighten our stop-loss parameters to a settle above 103.40.

As the dollar continues to benefit from a "risk-off" trade, the Aussie has concurrently benefited from 

better news from China, making the trade a wash...                                                              

                                                                                

----------------------------------------------------------------------------------------------------------------------

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 on #Euro #Currency by @JimIuorio

Tweet More on #Euro #Currency by @JimIuorio

 

Attached is a daily chart of December Euro Currency Futures (ECZ2).

          

As per yesterdays post, we have a short bias in Euro that began below 128.70.  Stop-loss level will be a settle above 128.95.  The initial downside objective will be 128.10. 

At this level, if it appears that the market will hold, we would cover some of position.  If the level breaks quickly we would add to shorts below 128.00. 

----------------------------------------------------------------------------------------------------------------------

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.