What's Up, What's Down: New Sell Signal for the Pound

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City of Industry, CA Rick Alexander has been a broker and analyst in the futures business for over thirty years. He is a Vice-President for Sales and Trading at the Zaner Group (zaner.com) a Chicago-based futures brokerage firm.


Higher close on Friday for the dollar index while lower for the Japanese Yen, Canadian and Aussie Dollar, Euro Fx, Swiss Franc and British Pound. All of the currencies made new recent lows and closes except for the Japanese yen. Conversely, the dollar made a new recent high and close. The euro and franc continue their downtrends while the British Pound gave me a SELL SIGNAL. The yen as good resistance above 11200 and support below 11000 but hasn't given me a signal at this time. The Canadian dollar closed lower also needing to hold the 9300 area while trading near the lower range of a sideways going back to the beginning of October. The Aussie dollar closed lower still at the lower end of a sideways pattern going back to late October. [Read the full article]

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