Wednesday, December 8, 2010

12/8 Forex

  • U.S. dollar, euro to bull phase against the yen (USD/JPY, EUR/JPY).
  • New Zealand dollar to bear phase against U.S. dollar (NZD/USD).
  • U.S. dollar to bull phase against the peso (USD/MXN).

ppspps openupper pivotlower pivot
EUR/USD US$1.33 US$1.32 dec3 US$1.36 US$1.28
AUD/USD US$0.98 US$0.97 dec2 US$1.02 US$0.97
USD/CAD C$1.01 C$1.02 dec2 C$1.02 C$0.98
USD/JPY¥84 ¥83 dec8 ¥87 ¥81
GBP/CHF SF1.56 SF1.56 nov11 SF1.56 SF1.51
GBP/USD US$1.58 US$1.56 dec3 US$1.59 US$1.54
EUR/JPY ¥111 ¥110 dec8 ¥112 ¥107
AUD/JPY ¥83 ¥81 dec2 ¥83 ¥79
USD/CHFSF0.99 SF1.00 dec2 SF1.00 SF0.95
NZD/USD US$0.75 US$0.76 dec8 US$0.78 US$0.73
USD/MXN M$12.42 M$12.36 dec7 M$12.70 M$12.22

The USD/JPY phase switch whipsawed away from a three-day bear phase that carried the price down 0.4%.

The EUR/JPY pair, by contrast, prior to today's signal saw a substantial bear phase lasting 11 U.S. market days. In that period the price declined 2.5%.

NZD/USD whipsawed back to bear phase after three days in the bull column, a period that saw the price increase by 0.2% in a counter-signal.

The USD/MXN pair's bull phase kicked in during late trading on Tuesday. It ended a three-day bear phase that carried the price down 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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