Monday, July 26, 2010

7/26 Forex

  • Cable to bull phase against the U.S. dollar.
ppspps openupper pivotlower pivot
EUR/USD US$1.2944 US$1.2879 jul21 US$1.2510 US$1.1602
USD/JPY¥87.30 ¥88.30 jul15 ¥91.49 ¥85.29
GBP/USD US$1.5477 US$1.5258 jul23 US$1.5266 US$1.4021
EUR/JPY ¥113.07 ¥112.69 jul21 ¥112.46 ¥103.05
USD/CAD C$1.0320 C$1.0488 jul22 C$1.1024 C$1.0291
USD/MXN Mex$12.7295 Mex$12.8693 jul22 Mex$13.4288 Mex$12.5516

The GBP/USD bull signal kicked in late in the U.S. market day on Friday and followed a two-day bearish whipsaw.

The price of the pair has been essentially sideways since July 15.

Today's opening price is well above the Person's upper pivot and in trading rose above the high set in the July 15 rise. However, it quickly retraced to within the July 15 range.

The preceding bear phase carried the price down 0.03%; essentially a wash, and probably a loss once the spreads are accounted for.

Person's Monthly Pivots
  • US$1.5477 <== You are here.
  • US$1.5266, -1.4% (upper)
  • US$1.4825, -4.2% (midline)
  • US$1.4021, -9.4% (lower)
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. Disclaimer
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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