The Dollar Is Still the Strongest Currency in the – Money News
September Euro currency (E6U26) futures current a promoting alternative on more price weak spot.
See on the each day bar chart for the September Euro currency futures that costs are in a downtrend. The bears have the near-term technical benefit as “the trend is their friend.”
Fundamentally, the U.S. financial system continues to show its resilience, and the U.S. greenback ($DXY) stays by far the strongest currency in the world amid heightened geopolitical tensions. That’s greenback-bullish and Euro-bearish.
A transfer in the the June Euro beneath chart assist at the May low of 1.1630 would give the bears recent energy and it might additionally turn into a promoting alternative. The draw back price goal can be 1.1250 or beneath. Technical resistance, for which to put a protecting buy stop above, is situated at 1.1800.
IMPORTANT NOTE: I’m not a futures broker and don’t handle any trading accounts different than my own personal account. It is my aim to level out to you potential trading alternatives. However, it’s up to you to: (1) determine when and if you wish to provoke any trades and (2) decide the measurement of any trades chances are you’ll provoke. Any trades I focus on are hypothetical in nature.
Here is what the Commodity Futures Trading Commission (CFTC) has mentioned about futures trading (and I agree 100%):
Trading commodity futures and choices shouldn’t be for everybody. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Before you invest any money in futures or choices contracts, it is best to contemplate your financial expertise, targets and financial assets, and know how a lot you may afford to lose above and past your initial cost to a broker. You ought to perceive commodity futures and choices contracts and your obligations in coming into into these contracts. You ought to perceive your publicity to risk and different points of trading by totally reviewing the risk disclosure paperwork your broker is required to provide you.
On the date of publication, Jim Wyckoff didn’t have (both immediately or not directly) positions in any of the securities talked about in this text. All data and information in this text is solely for informational functions. For more data please view the Barchart Disclosure Policy right here.
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