The Commodity Research Bureau's TrendTrader is Long Aussie, Loonie, Yen and Swiss.
Short US Dollar Index, Sterling and a new Short Position in the Peso. Flat Euro.
Forex Markets For Friday October 2nd, 2009
The dollar index this morning is higher with the dollar/yen -0.26 yen and the euro/dollar -0.10 cents. The dollar index yesterday recovered Wednesday's losses and closed higher. Bullish factors for the dollar yesterday included (1) the fall in the euro to a 2-1/2 week low after ECB Prsident Trichet said "disorderly movements" in exchange rates have "adverse implications" for economies, signaling the ECB would not welcome further dollar weakness, (2) the unexpected decline in Aug German retail sales which had its biggest decline in 17 months and raised questions about the strength of an European economic recovery, (3) the prediction from former top Japanese currency official Utsumi that the yen will weaken to 100 per dollar over the next "few months" as economic fundamentals don't support further yen gains, and (4) comments from Fed Chairman Bernanke that he doesn't see an "immediate risk" to the US dollar's status as the world's main reserve currency. Bearish factors inclu ded (1) a decline in the safe-haven demand for the dollar on the IMF's hike in its global economic growth forecast to 3.1% from a July forecast of 2.5%, and (2) the prediction from Royal Bank of Scotland Plc that declines in the dollar may be less dependent on stock market prices and that "provided equities don't slide too far, the dollar may remain on a weaker path."
Day traders work for the markets - Trend Traders let the markets work for them, the Trend is your friend!
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CLICK HERE: Special Offer: $99 13 Week Subscription.
CALL Jay: 312 506 8709
About CRB
The Commodity Research Bureau has been leading the world in commodities research and analysis since 1934. Based in Chicago, Illinois, the firm has been the innovator of the CRB Indices, as well as the publisher of the CRB Yearbook, Encyclopedia, CRB Price Charts, TrendTrader and Futures Market Service newsletters.
About CRB TrendTrader
In 1963, the Commodity Research Bureau developed a computerized trading system for the purpose of removing the emotional human element from market forecasting. Since then, countless trading programs, timing theories, and techniques have been designed and popularized by an even wider universe of individuals and companies for the purpose of "beating" the futures market. Yet, today, CRB's TrendTrader remains one of the oldest and most respected technical daily market letters.
TrendTrader system analyzes four different technical studies to categorize markets as trending up, sideways, or down. These four studies are a combination of moving average, price volatility, market momentum, and various time cycles. Support and resistance levels are recalculated daily and serve as "stops" when the market is in a trend phase and mark the breakout levels for new up or down trends when markets are in a sideways mode.
The system is for medium to long-term trading and is designed to maintain positions throughout minor and medium-term corrections. TrendTrader tracks over 90 markets, including foreign exchange (FX), stock indices, exchange traded funds (ETF), interest rates, metals, energies, grains, meats and foods & fibers.
CLICK HERE: Special Offer: $99 13 Week Subscription.
CALL Jay: 312 506 8709
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