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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures

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From: thechartguy	6/11/2011 9:49:54 AM
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Some observations on the dollar, euro and sugar. I am a CMT, so most of my ideas are from a technical perspective. That being said, recent observations reveal a possible bottom in the dollar. If using the UUP as a proxy, weekly close above 21.75 would confirm an intermediate trend change. As for the Euro, again using an ETF, FXE as a trading vehicle, a top seems to forming. This makes sense because the Euro carries the highest weighting in the dollar index A weekly close below 1.40 would confirm the trend change. A look at sugar using the ETF SGG, is displaying a trend change from down to up. Over the past few weeks, sugar has broken a 4-5 month downtrend since putting in its top. This past week displayed continued strength but now seems slightly stretched in the near term. Pullbacks in the SGG should be used to enter longs into this new uptrend. A weekly close below 75 would invalidate this new uptrend and call for a liquidation of the trade. Good luck The Chart Guy Tradingwithtechnicals.com

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