Dollar continues to rise

by Joe Oliver, Forex Trading-Pips

The US dollar continued to rise against all major currencies on Friday with the US dollar index trading at 21 month highs as investors continue to shun risk. Spanish 10 year yields rose to 6.7 percent putting downward pressure on the euro. Employment numbers out this morning showed unemployment in the euro area at record levels of 11 percent, the highest  since data was first reported in 1995.

US Dollar Index Weekly Bars

US Dollar Index Weekly Bars

Extended moves in the currency markets are producing decent opportunities for trend following traders in the currency markets. The Trend Following component of our Signals Program is currently sitting on over 700 pips profit from short positions initiated  in euro currency at the beginning of last month.

Euro Currency Daily Bars

Euro Currency Daily Bars