Tuesday, October 5, 2010

10/5 Forex

  • No new signals on the currency pairs that I follow.
  • Both the EUR/USD and USD/JPY pairs have paused in their runaway rise and fall (respectively).

ppspps openupper pivotlower pivot
EUR/USD US$1.38 US$1.35 sep13 US$1.40 US$1.30
USD/JPY¥83 ¥85.08 sep22 ¥85 ¥82
GBP/USD US$1.59 US$1.57 sep30 US$1.60 US$1.54
EUR/JPY ¥115 ¥112.22 sep14 ¥117 ¥108
USD/CAD C$1.02 C$1.03 sep24 C$1.06 C$1.02
USD/MXN M$12.52 M$13.07 sep2 M$13.06 M$12.28

In recent weeks both EUR/USD and USD/JPY have tracked the fall of the U.S. dollar, which has begun to stabilize the last few U.S. market 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.

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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