The CRB TrendTrader report is Short USD/JPY - see full report below.
Notice the open position profit based on 1 contract!
Day traders work for the markets - Trend Trader's let the markets work for them, remember 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.
TrendTrader tracks over 79 markets, including foreign exchange (FX), stock indices, interest rates, metals, energies, grains, meats, foods & fibers and exchange traded funds (ETF).
For more details and discount subscriptions call or email Jay directly: 312 506 8709. j.brown@crbtrader.com
Forex Markets
The dollar index this morning is slightly weaker with the dollar/yen -0.24 yen and the euro/dollar +0.22 cents. The dollar index yesterday slipped to a 1-1/2 week low and finished moderately lower. Bearish factors included (1) reduced safe-haven demand for the dollar after the stock market rallied sharply, (2) comments from Chinese Premier Jiabao that boosted the euro when he said China and western countries should work together to enhance the world's confidence in the euro and the European Union economy, and (3) the action by Bank of America Merrill Lynch to hike its year-end forecast for the yen to 81 to the dollar from a previous forecast of 90, citing expectations the Fed will increase monetary easing to preserve the US economic recovery. Bullish factors included (1) the unexpected decline in Jul German retail sales which fell for a second month and is negative for the euro, and (2) increased safe-haven demand for the dollar after the Aug ADP employment change unexpect edly declined, which fuels concern about Friday's Aug nonfarm payroll report.
THESE RESULTS ARE BASED ON SIMULATED OR HYPOTHETICAL PERFORMANCE RESULTS THAT HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE THE RESULTS SHOWN IN AN ACTUAL PERFORMANCE RECORD, THESE RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, BECAUSE THESE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THESE RESULTS MAY HAVE UNDER-OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED OR HYPOTHETICAL TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THESE BEING SHOWN.
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 Trend Trader
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.
For more details and discount subscriptions call or email Jay directly: 312 506 8709. j.brown@crbtrader.com
