Currency Market Summary For Tuesday November 22nd

The March Euro currency closed up 10 points at 1.3522 today. Prices closed nearer the session low. Bears have the solid overall near term technical advantage. Prices are in a four week old downtrend on the daily bar chart.

The March Japanese yen closed down 10 points at 1.3032 today. Prices closed nearer the session high today. Bulls have the near term technical advantage. Prices are in a three week old uptrend on the daily bar chart.

The March Swiss franc closed up 21 points at 1.0958 today. Prices closed near mid range today. Bears have the solid overall near term technical advantage.

The March Canadian dollar closed steady at .9610 today. Prices closed near mid range. Bears have the overall near term technical advantage.

The March British pound closed down 9 points at 1.5617 today. Prices closed nearer the session high today and hit a fresh six week low early on. Bears have the near term technical advantage.

The March U.S. dollar index closed down 2 points at 78.81 today. Prices closed near mid range today in quieter trading. Bulls have the overall near term technical advantage.


Just click here for your FREE trend analysis of the U.S. Dollar ETF UUP

Currency Market Summary For Tuesday October 25th

The December Euro currency closed down 20 points at 1.3920 today. Prices closed nearer the session high today and hit another fresh seven week high. Bulls have the slight near term technical advantage as prices are in a four week old uptrend on the daily bar chart.

The December Japanese yen closed up 24 points at 1.3182 today. Prices closed nearer the session high today and closed at a fresh contract high close. Prices have seen a bullish upside “breakout” from a sideways trading range at higher price levels. Bulls have the solid overall near term technical advantage.

The December Swiss franc closed up 27 points at 1.1399 today. Prices closed near the session high today and hit a fresh six week high. Bears still have the overall near term technical advantage. However, a bullish “rounding bottom” reversal pattern may be forming on the daily bar chart.

The December Canadian dollar closed down 85 points at .9852 today. Prices closed nearer the session low today and hit a fresh five week high early on. Prices also scored a big and bearish “outside day” down on the daily bar chart today as the bulls faded a bit.

The December British pound closed up 18 points at 1.6009 today. Prices closed nearer the session high today and hit another fresh six week high. The bulls have upside near term technical momentum. A steep three week old uptrend is in place on the daily bar chart.

The December U.S. dollar index closed up 7 points at 76.34 today. Prices closed near mid range today and hit another fresh six week low early on. Some near term chart damage has occurred recently. Prices are in a three week old downtrend on the daily bar chart.

Just click here for your FREE trend analysis of the U.S. Dollar ETF UUP

A New Market, But the Same Indicator We've Been Using All Week to Conquer it

You only have to watch our earlier videos to see that it has performed very well this week in gold as well as the crude. In today's short video we want to share an ETF that is setting up nicely and should be giving us a buy signal using the same strategy that we used in the earlier gold and crude oil videos.

This ETF which closely follows the Swiss Franc (symbol FXF) is one you may want to take a look at. As you may be aware, the Swiss Franc is independent of the euro zone and is a separate currency that is backed by the Swiss government.

We think you'll enjoy this short lesson as it will reinforce the two previous lessons on how to use this indicator. In case you missed our earlier lessons, you can watch the gold and the crude oil videos on the INO Trader's Blog.

As always our videos are free to watch and there are no registration requirements. Feel free to discuss them on the INO blog, Tweet them to your friends, and e-mail anyone that you think could benefit from these educational trading lessons.

Want to trade like Adam? Click here for FREE lessons.

Share