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The Grass is Always Greener: US Dollar

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December US Dollar Futures

Last month's harsh treatment of our beloved greenback saw the currency giving back over 60% of its gain from the mid September rebound. Currently trading near 93.30 puts the contract in my opinion poised to reach for higher prices. I believe we are in the early stages of the c wave of an a-b-c corrective rally. My overhead extension target comes in at approximately 96.00. This outlook is all contingent on the dollar's ability to hold above the 93 level. This puts the risk/reward measurement at a favorable 7 to 1. First upside level of contention rest at +/- 94.80. I'd expect a reaction around this point.. We at Walsh Trading are always on the lookout for setups like this. The most important element is ones assessment of risk. In this case ,as mentioned, the breakdown would turn the scenario sour. Please reach out to us to discuss recommended strategies to take advantage of this and other well defined market opportunities.

My analytical breakdown focuses on a blend of wave pattern recognition, long and short term geometrical extensions and momentum signal interpretation.

Please join me next Tuesday as I apply Wave Theory and Geometric targets levels to this and other commodity markets.

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About the author

John Lunney began his trading career in 1989 as a clerk for IFO, the largest futures and futures options brokerage on the CME floor. Within one year, John was promoted to an executing floor broker responsible for handling large individual and institutional accounts. John’s knowledge of option theory and tactics quickly attracted a growing customer base. In 2000, John began exclusively trading futures and futures options for his own account. John later became a founding member of VI Capital, a proprietary trading company funded with personal and investor funds. At VI Capital, John was the director of risk management, technical analysis and strategy development. VI Capital realized multi digit returns over the course of 8 years of trading.

John has extensive trading experience in stock indexes, metals, commodities, energy and agriculture products. He believes that hard work reveals the best trading opportunities, and strong discipline creates consistent results. John possesses a unique ability to connect with customers, understand their goals, and work with them to create long and profitable relationships.

Contact John
Phone: 312-957-8108 or 888-391-7894

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