1st on Forex

Live Webinar Coverage of US GDP Report Begins at 7:30am EST (11:30GMT) Bad News = Good News?

Click Here for Live Coverage of US GDP Report

Thursday Sept 27 - The US GDP report is closely watched as it tells institutions, governments, investors, and traders about the overall health of the US Economy. As traders we can either stand aside, or trade. But we must be aware of these scheduled economic events.

When you mix the current Volatility of the markets with the release of this fundamental data, there is likely to be a temporary spike on the charts. 

Tune In and Trade Along!

Does Bad News for the US Economy mean Good News for the US Dollar? This presentation will have an in-depth look at this scheduled volatility event. Click Here to Register for this Educational and Technical Analysis Session

Jerry Furst is an active trader, educator and Founder of Investors Education Network (IEN), he is also a mentor and trading coach to select clients.

No News Monday - Interesting Week Ahead

No Scheduled Economic News of any significance scheduled. Tuesday should be a bit more interesting as Consumer Confidence and Existing Home Sales are both scheduled for 10am EST.

Mover and Shaker at the Podium

Iranian President and accused 1970's Hostage taker - takes on the Big Apple and the United Nations. In a true testament to the United States greatness of freedom, he will address the National Press Club, and Columbia University. Despite diplomatic Immunity,  I hope somebody checks his luggage!

Mainstream Media - The Contrary Indicator

The US Dollar is getting attention in the mainstream press as being under pressure - So I believe a retracement of last weeks losses are a possibility!Traders may want to look for pullbacks as the greenback needs to "breath" a little. 

How do you spell  "Intervention"?

This as the ECB's Trichet and Noyer are warning of excess volatility if the Dollar continues to weaken. Market News International reports Noyer as saying, " excess volatility and disorderly movements (in exchange rates) are undesirable for economic growth."  

The Sterling - Dollar in a Nice Channel

The Pound is sporting  a strong up channel with upper and lower boundaries. Fibonacci Support is at approx 2.015 and Resistance at 2.026.

Click on Chart to Enlarge

 

Be sure to Register for this weeks live webinar coverage the US GDP Report Thursday starting at 7:30am EST live on FX Street with Investors Education Network's Sr Analyst and Trainer Jerry Furst

Canadian Dollar at Parity with US Dollar

$82 Oil - Safe Haven - Gold Maple Leafs

There are plenty of reasons why the Canadian Loonie is eye to eye with the US Dollar. With Gold at 30 year highs and jawboning by the talking heads discussing $200 Oil - What's not to like about things Canadian. Eh, I hear they have a health plan too!

Prediction of Parity By End Of Summer - Complete!

Today at approx 9:11am EST the Loonie dropped to a low of 0.9999. for the first time since the US Bi-Centennial, Jimmy Carter, Peter Frampton, Shah of Iran, era of 1976! With September 23 marking the end of Summer my prediction on this blog (posted May 15th - see archives) that we would see parity by the end of the season has come to fruition.

Lowest Level since 1976! Is it Sustainable?

But before we get too far ahead of ourselves, This could also be viewed  like climbing a mountain: Why did the Canadian Dollar reach Parity with the US?  "Because It Is There"! Now that we have reached the Peak - Is it time to come back down?  Having talked with many Canadians just last week at a conference in NY, many businesses in Canada do not want a high Loonie!

Other Predictions and Posts

Head and Shoulders Pattern Completed - On September 8 I posted a Dual Head and Shoulder pattern that completed as Ben Bernanke and the FOMC lowered interest rates .50% in a surprisingly aggressive move.  I hope you all tuned in to the Webcast on FX Street.com.

Where Do We Go From Here?

The Fibonacci Extensions from July 25 to the August 16th high show that 1.0014 is the 1.618 level which is where price is bouncing around as I type. The next support level is 0.9924 at the 1.786 extension.

Click on the Charts to Enlarge (see Sept 8 and May 15th posts)

As Sr. Analyst, and Trader Jerry Furst - Founder of Investors Education Network (IEN),  is also a mentor and trading coach to select clients.

Tune in to live Webcasts on FX Street.com every Monday at 7am EST Register Here

Guessing Game for Interest Rates Returns

And So Does the Volatility!

It was even a commercial - the little kid on the bus smugly asks the business man, " So what do you think the Fed is going to do with Interest Rates?"

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Free Webinar - Tune into the Live Coverage of the FOMC Interest Rate Announcement and Watch the Charts Live and Trade Along  - 17:30 GMT 13:30 EST - Register

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What's the Fed Going To Do?

Gone are the days of the "Briefcase Indicator" where it was judged that if Fed Chairman Greenspan had a thick briefcase, it was likely a large interest rate increase or decrease.

Ben Bernanke scheduled to make his first interest rate change since taking the chairmanship, and the guessing game is on! Not only as to what action the FOMC will take - but what will the wording be accompanying the expected announcement and, will they lower by a .25 or .50%?

Adventures in Turbulence - Greenspan's Concern is on Inflation

The former Federal Reserve Chairman is making the rounds on TV and granting interviews for his new book: "The Age of Turbulence: Adventures in a  New World". Although he seems to be focused on inflation - This blogger feels that a narrow focus on inflation is naive to the new dynamic of global markets and a United States that no longer has an industrial manufacturing base at it's core.

Raising Interest Rates and Asking the Chinese to Float Currency

will only cause the cost of goods to go up! Gone are the days when we needed to cool off an overheated factory working overtime and creating too many widgets that would go unsold.

This is the problem you get when people from academia and political circles make decisions based on text books and past experiences.

Those Who Fail To Remember History ...

Are Condemned to Repeat it - This old and wise adage needs to be revised as history does not repeat. Each cycle is unique in it's own way. To put on blinders and just say let's fight inflation and not worry about everything else  - Well that is a just a Bull headed way of thinking that may let the Bears have the day!

Free Webinar Coverage of Fed Announcement

Tune into the Live Coverage of the FOMC Interest Rate Announcement - and Watch the Charts Live and Trade Along  - 17:30 GMT 13:30 EST - Register Here

As Sr. Analyst, and Trader Jerry Furst - Founder of Investors Education Network (IEN),  is also a mentor and trading coach to select clients.

Non Farm Payrolls - Worst in over 4 Years

Recession Looming? or Worse?

The much weaker  results of today's employment report is raising fears of a US recession. Bernanke now has a green light to lower rates, as signs of US recession are becoming apparent.

Latest Economic Standoff - Where is Your Money Safest?

Because the US is so important to the global economy,  we are at a standoff on whether or not to be US Dollar bearish - but at the same time need to be risk averse. This is a contradiction of sorts. Where do you feel safe putting your money? If it's not in the US Dollar - then the US Dollar tanks - If the US Dollar tanks, it will likely take down whatever you thought was safer than the US Dollar - and round and round she goes!

Commodities - Gold and Oil Rising - Normal Cycle?

Gold has been rallying - and may be a flight to safety, Although other metals may be a better bet - depending on your entry and exit strategy. Oil and other commodities are in play. Is this a normal business cycle?

US Dollar - Canadian Loonie - Dual Head and Shoulder Pattern

 

The Monday Webinar "1st on Forex - Week Ahead" will return Sept 17th and

Click Here to Register now to tune in to the live FOMC interest rate announcement - Webcast on Free on FX Street on Tuesday September 18th. broadcast.

Jerry Furst is an active trader, educator and Founder of Investors Education Network (IEN), he is also a mentor and trading coach to select clients.

Labor Day is Over - Back to Work

Typically September and October signal the busiest times on the financial markets before the Holidays set in in November. The sub prime mess amongst other issues are no where near resolved - so it is expected that the volatility will continue to rock the markets.

Interest Rate Watch

The biggest question mark brings back memories of the Greenspan era of wondering what the Fed will do with Interest rates. Bernanke up until now has been considered to be quite transparent, which was easy to do when you just leave the controls on autopilot. He was almost found to be asleep at the wheel only concerned about inflation.

Quick action by the Treasury department coordinated with the central banks around the globe injecting liquidity to avoid a major meltdown gave the public the impression that Bernanke had all under control - when in fact he narrowly missed being called on the carpet.

All indications are that a .25% cut is priced in - and the possibility of a .50 point cut is possible. Be sure to register for my live Webcast of the FOMC meeting September 18 and watch the action on the charts live!  

 

Australia GDP comes in Stronger than Expected

Triangle Pattern setting up on the 4 Hour Chart - Sept 3 - 22:00 EST

Click on chart to enlarge 

 

Jerry Furst is an active trader, educator and Founder of Investors Education Network (IEN), he is also a mentor and trading coach to select clients.