Monday, July 19, 2010

7/19 Forex

  • Dollar pauses in fall against the yen.
  • Pound falls below upper pivot in dollar trading.

ppspps openupper pivotlower pivot
EUR/USD US$1.2952 US$1.2236 jul01 US$1.2510 US$1.1602
USD/JPY¥86.32 ¥88.30 jul15 ¥91.49 ¥85.29
GBP/USD US$1.5340 US$1.5176 jul14 US$1.5266 US$1.4021
EUR/JPY ¥111.82 ¥110.03 jul06 ¥112.46 ¥103.05
USD/CAD C$1.0525 C$1.0381 jul16 US$1.1024 US$1.0291
The USD/JPY pair fell 3.2% in three days. Today's retracement so far has covered 0.9% low to high.

The GBP/USD pair at today's low (so far)  is only 0.17%  above the bull-signal open on July 14.

The analysis uses the daily Person's Proprietary Signal, developed by John Person, and the monthly Person's Pivot, which he also developed.

These are black box signals -- the "proprietary" means that Mr. Person knows how they work under the hood, and I don't. But they have shown a fair degree of success in identifying good entry and exit points, and I find them useful.

On the glance, "pps open" means the price at the start of trading in the United States on the day the signal appeared.

Tim Bovee, Private Trader tracks the trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.

No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.

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