MONEY MANAGEMENT IS ONE OF THE MAJOR KEYS TO SUCCESSFUL TRADING. CALL FOR DETAILS!
MAN WHO PICKS TOP, LOSES BOTTOM!

Comments for April 23, 2010

Looking ahead to Friday by reflecting on Thursday’s trading action

Yen remains in a long-term downtrend

CURRENCIES: 04/23/10 Higher for the dollar index and Canadian and Aussie Dollar while lower for the British Pound, Japanese Yen, Euro Fx and Swiss Franc. The euro and franc settled lower for the sixth trading session in a row with the former making its lowest low since April 9th and the latter its lowest low and close in over one and a half months. Both continue to be in down-trends overall. The yen also settled lower still in a long-term downtrend with its lowest low and close in over two weeks. The Canadian Dollar made a new CONTRACT HIGH before settling lower in reversal type action. The pound closed higher still in a good up-trend overall while now in a weak resistance area. The Aussie Dollar also closed down but still is in a uptrend overall. The dollar closed up for the fourth time in five trading sessions but has basically been trading between 8000 and 8200(June) since the beginning of February. BUY SIGNALS FOR THE DOLLAR INDEX, BRITISH POUND, CANADIAN AND AUSSIE DOLLAR. CALL FOR DETAILS!

Read the balance of my morning comments, including the Metals, Grains and Softs at my website. For my complete coverage, visit my commentary page at www.markethead.com 

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