Tuesday, December 21, 2010

12/21 Forex

  • U.S. dollar moves to bear phase in trading against the yen and the peso (USD/JPY, USD/MXN).

ppspps openupper pivotlower pivot
EUR/USD US$1.31 US$1.34 dec15 US$1.34 US$1.30
AUD/USD US$1.00 US$0.97 dec2 US$1.01 US$0.98
USD/CAD C$1.02 C$1.01 dec17 C$1.01 C$1.00
USD/JPY ¥84 ¥84 dec21 ¥85 ¥83
GBP/CHF SF1.49 SF1.56 nov11 SF1.54 SF1.52
GBP/USD US$1.55 US$1.58 dec15 US$1.58 US$1.52
EUR/JPY ¥110 ¥111 dec8 ¥113 ¥110
AUD/JPY ¥83 ¥81 dec2 ¥84 ¥82
USD/CHFSF0.96 SF1.00 dec2 SF0.98 SF0.94
NZD/USD US$0.74 US$0.76 dec8 US$0.75 US$0.74
USD/MXN M$12.37 M$12.41 dec21 M$12.48 M$12.26

The USD/JPY pair has been trending sideways since mid-November, causing a great degree of whippiness in the signal. The preceding bull phase lasted nine U.S. market days and carried the price up a bare 0.3%.

The USD/MXN pair has been in a shallow downtrend since mid-2009, one so shallow it could be mistaken for a sideways trend by the careless chart-reader. The preceding bull phase lasted 11 U.S. trading days and carried the price up 0.3%.

The analysis uses the daily Person's Proprietary Signal, developed by John Person, and the weekly 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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