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Comments for January 28, 2010

LOOKING AHEAD TO THURSDAY BY REFLECTING BACK ON WEDNESDAY’S ACTION

New Sell Signal in the Swiss franc; Yen shows resistance above 11200

CURRENCIES: 01/28/10 Higher closes yesterday for the British Pound and dollar index while lower for the Euro Fx, Swiss Franc, Canadian and Aussie dollar along with the Japanese yen. The euro and franc made new recent lows and closes giving me a SELL SIGNAL in the franc. The yen made a new recent higher before settling lower again in reversal type action with good resistance above 11200. The Canadian dollar was unable to hold 9400 which means it should continue lower overall but hasn't given me a sell signal at this time. Also we could see a rally from here based on how it acted in this area over the last few months.The pound settled higher and could be forming a larger bottom as it's starting to turn back up in the short-term. The Aussie dollar lower with no changes technically while trading, basically, sideways since late October. The dollar index had a strong close higher and is very close to giving me a buy signal. BUY SIGNAL FOR THE BRITISH POUND. SELL SIGNAL FOR THE EURO FX AND SWISS FRANC. CALL FOR DETAILS! 

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Rick Alexander has been a broker and analyst in the futures business for over thirty years. He is a Vice-President for Sales and Trading at the Zaner Group (www.zaner.com) a Chicago-based futures brokerage firm. Email Rick at ralexander@zaner.com or call toll-free (888) 281-4158.

The information in this Report and the opinions expressed are subject to change without notice. Neither the information nor any opinion expressed constitutes a solicitation by Rick Alexander or the Zaner Group of the purchase or sale of any futures or options. Futures and options trading is speculative in nature and involves risks. Spread trading is not necessarily less risky than outright positions. Futures and options trading is not suitable for all investors.