The CRB TrendTrader report is Short Euro, Sterling, Euro/Yen, Sterling/Yen, Euro/Loonie, Euro/Aussie and Long Euro/Sterling, and Aussie. Notice the open PIP profit in the EUR/CAD, EUR/USD, EUR/AUD and GBP/USD.
See full position report below.
Remember - day traders work for the markets - Trend Traders let the markets work for them, the Trend is your friend!
The CRB Futures Market Service is one of the oldest and most respected market letters in the industry since 1934.
Forex Markets
The dollar index this morning is higher with the dollar/yen -0.58 yen and the euro/dollar -0.79 cents. The dollar index yesterday recovered from early weakness and closed little changed. Bullish factors yesterday included (1) comments from Greek Prime Minister Papandreou who said his country's fiscal crisis could spread beyond Europe unless "unprincipled speculators" and "ill-regulated" financial markets are reined in, which increased the safe-haven demand for the dollar, (2) the prediction from Standard Bank Plc that the euro will fall to $1.25 "over the next few months" as the euro's response to a "resolution" of the Greek crisis is nothing but a "dead-cat bounce, and (3) the prediction from Royal Bank of Scotland that the dollar has room for "substantial" gains against the yen this year as a robust recovery in the US encourages thoughts of rate hikes in the US later this year and prompts global investors to sell the yen in order to fund carry trades. Bearish factors in cluded (1) euro-positive comments from former Fed Chairman Volcker who said European officials are lucky that the Euro-Zone's first major crisis was sparked by one of its smaller members and that he's "still a believer in the euro," and (2) early strength in the euro after comments from French President Sarkozy who said the Euro-Zone nations are "ready" to help Greece financially if needed.
CLICK HERE: Special Offer: $99 3 Month Subscription.
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 79 markets, including foreign exchange (FX), stock indices, interest rates, metals, energies, grains, meats, foods & fibers and exchange traded funds (ETF).
