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Yen looks Up, Aussie dollar looks Down
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Currency Futures Market Comments for February 5, 2010

Yen looks Up, Aussie dollar looks Down

CURRENCIES: 02/05/10  Sharply higher closes yesterday for the Japanese Yen and dollar index while sharply lower for the Canadian Dollar,  Euro Fx, Swiss Franc, British Pound and Aussie dollar. The euro and franc had their lowest lows and closes since last June, the pound since May and the Aussie dollar since lst October while the yen had its highest high and close since June and the dollar index since July!  The Canadian Dollar ended up near the lower end of a long trading range needing to hold the 9300 area basis the March contract.  I now have a BUY SIGNAL for the yen and a SELL SIGNAL for the Aussie dollar.

For a free download of “Top 50 Reasons Why Futures Traders Lose Money,” click: http://www.zaner.com/3.0/ljs50Reasons.asp
See the balance of my morning comments, including the Softs, Energies and Meats at my website. For my complete coverage, visit my commentary page at www.markethead.com

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 (www.zaner.com) a Chicago-based futures brokerage firm. Email Rick at ralexander@zaner.com or call toll-free (888) 281-4158.

The information in this Report and the opinions expressed are subject to change without notice. Neither the information nor any opinion expressed constitutes a solicitation by Rick Alexander or the Zaner Group of the purchase or sale of any futures or options. Futures and options trading is speculative in nature and involves risks. Spread trading is not necessarily less risky than outright positions. Futures and options trading is not suitable for all investors

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