9/13 Forex

• Euro moves to bull phase against the dollar (EUR/USD).
  

	pps	pps open	upper pivot	lower pivot
EUR/USD US$1.27		US$1.27 sep13	US$1.31	US$1.24
USD/JPY¥84.21		¥85.15 aug24	¥86.06	¥82.82
GBP/USD US$1.54		US$1.54 sep8	US$1.58	US$1.51
EUR/JPY ¥107.07		¥108.42 sep7	¥108.43	¥103.21
USD/CAD C$1.03		C$1.07 sep1	C$1.09	C$1.03
USD/MXN M$12.96		M$13.07 sep2	M$13.50	M$12.72

The EUR/USD bull signal was accompanied by a 1.2% intraday rise that pushed the price up to the midline at $1.29.

The preceding bear phase produced a 1.2% price decline.

The signal was the third phase switch in eight U.S. market days, so the pair is very much in whipsaw mode. The price rise left it within the trading range that began on Aug. 12.

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.