9/7 Forex

• Euro shows bear signals against dollar, yen (EUR/USD, EUR/JPY).

	pps	pps open	upper pivot	lower pivot
EUR/USD US$1.27		US$1.29 sep7	US$1.31	US$1.24
USD/JPY¥83.62		¥85.15 aug24	¥86.06	¥82.82
GBP/USD US$1.53		US$1.59 aug11	US$1.58	US$1.51
EUR/JPY ¥106.52		¥108.42 sep7	¥108.43	¥103.21
USD/CAD C$1.05		C$1.07 sep1	C$1.09	C$1.03
USD/MXN M$13.05		M$13.07 sep2	M$13.50	M$12.72

The euro's drop was attributed, in news reports, to the same-old-same-old: banking, economy, debt.

Against the dollar, the euro fell 1.1% intraday (so far). Against the yen, the decline has been 1.8%.

The EUR/USD's preceding bull phase lasted four days and carried the price up 1.5%. The EUR/JPY bull phase lasted only two days, and the price rose by 0.4%.

Today's phase switch on the EUR/JPY is the fourth in eight U.S. trading days.

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.