tag:typepad.com,2003:weblog-522712 2008-08-20T06:01:30+02:00 1st on Forex: For Your Trading Success TypePad http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gifSubscribe with My Yahoo!Subscribe with NewsGatorSubscribe with My AOLSubscribe with RojoSubscribe with BloglinesSubscribe with NetvibesSubscribe with GoogleSubscribe with PageflakesSubscribe with Live.com tag:typepad.com,2003:post-54440138 2008-08-20T06:01:30+02:00 2008-08-20T06:01:58+02:00

US inflation data is being quoted as the worst since 1981. The US Housing market continues to show severe contraction. This may actually be a good sign that we are approaching the "bottom of the cycle. It is refreshing when...

Jerry Furst <div xmlns="http://www.w3.org/1999/xhtml"><p><font face="Arial" size="3">US inflation data is being quoted as the worst since 1981. The US Housing market continues to show severe contraction. This may actually be a good sign that we are approaching the "bottom of the cycle. It is refreshing when government officials have stepped away from their "rose colored windows" and have begun stating the "true" inflation numbers - even if it means they will need to pay higher Cost of Living Allowances, otherwise known as "COLAS" .<strong> </strong></font></p> <p><font face="Arial" size="3"><strong><u>Yesterday's Blog Post - Today's News</u></strong></font></p> <p><font face="Arial" size="3">Yesterday - I posted a few charts and did a video detailing some signs that we were due for a retracement - and that's what we got the start of yesterday - click on the charts and video from today and yesterday.</font></p> <p><a href="http://1stonforex.fxstreet.com/WindowsLiveWriter/2008-Aug-19-CHF-Triangle-Completed.jpg" target="_blank"><img style="border-right: 0px; border-top: 0px; border-left: 0px; border-bottom: 0px" height="369" alt="2008-Aug-19-CHF-Triangle-Completed" src="http://1stonforex.fxstreet.com/WindowsLiveWriter/2008-Aug-19-CHF-Triangle-Completed_thumb.jpg" width="545" border="0"></a> </p> <p><font face="Arial" size="3"><strong>Triangle Pattern Completes (above) and then Dollar Retraces&nbsp; -&nbsp; See Yesterday's Post</strong></font> </p> <p><a href="http://1stonforex.fxstreet.com/WindowsLiveWriter/2008-Aug-19--Euro-Bounces%20Off-Support.jpg" target="_blank"><img style="border-right: 0px; border-top: 0px; border-left: 0px; border-bottom: 0px" height="376" alt="2008-Aug-19--Euro-Bounces Off-Support" src="http://1stonforex.fxstreet.com/WindowsLiveWriter/2008-Aug-19--Euro-Bounces%20Off-Support_thumb.jpg" width="549" border="0"></a> </p> <p><font face="Arial" size="3"><strong><u>Euro Bounces off of Horizontal and Trendline Support (Click on Charts to Enlarge) </u></strong></font></p> <p>&nbsp;</p> <div class="wlWriterSmartContent" id="scid:5737277B-5D6D-4f48-ABFC-DD9C333F4C5D:bbbc06e5-ad81-425c-b8db-8bb85e403b23" style="padding-right: 0px; display: inline; padding-left: 0px; padding-bottom: 0px; margin: 0px; padding-top: 0px"><div id="6bcd1e61-e4e3-4502-837b-0f459cca65fc" style="margin: 0px; padding: 0px; display: inline;"><div><a href="http://www.youtube.com/watch?v=p7HCcOc1Dx4" target="_new"><img src="http://1stonforex.fxstreet.com/WindowsLiveWriter/videobbdfb6dfeb32.jpg" galleryimg="no" onload="var downlevelDiv = document.getElementById('6bcd1e61-e4e3-4502-837b-0f459cca65fc'); 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- Every Monday at 12 Noon EDT -</font> <p><font size="3"><font face="Arial"><u>Jerry Furst</u>&nbsp; is an active trader, educator, and Founder of <u>Investors Education Network</u> (IEN), He is a Mentor and Trading Coach to Select Clients&nbsp; </font></font><a href="http://www.investorseducationnetwork.com/private-mentoring-coaching.htm"><font face="Arial" size="3">Click Here for a Free Self Evaluation Survey.</font></a> <p>&nbsp; <p> <div class="wlWriterSmartContent" id="scid:0767317B-992E-4b12-91E0-4F059A8CECA8:0c0213dd-f841-40c4-a216-d76d3b3c0628" style="padding-right: 0px; display: inline; padding-left: 0px; padding-bottom: 0px; margin: 0px; padding-top: 0px">Technorati Tags: <a href="http://technorati.com/tags/Forex" rel="tag">Forex</a>,<a href="http://technorati.com/tags/currency%20trading" rel="tag">currency trading</a>,<a href="http://technorati.com/tags/trading" rel="tag">trading</a>,<a href="http://technorati.com/tags/technical%20analysis" rel="tag">technical analysis</a>,<a href="http://technorati.com/tags/charts" rel="tag">charts</a>,<a href="http://technorati.com/tags/Euro" rel="tag">Euro</a>,<a href="http://technorati.com/tags/CHF" rel="tag">CHF</a>,<a href="http://technorati.com/tags/Swiss%20Franc" rel="tag">Swiss Franc</a>,<a href="http://technorati.com/tags/Canadian" rel="tag">Canadian</a>,<a href="http://technorati.com/tags/dollar" rel="tag">dollar</a>,<a href="http://technorati.com/tags/scheduled%20economic%20calendar" rel="tag">scheduled economic calendar</a></div></p> <p> <div class="wlWriterSmartContent" id="scid:0767317B-992E-4b12-91E0-4F059A8CECA8:b483451e-778f-4872-92f0-1b110a11ff5e" style="padding-right: 0px; 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What Goes Down Must Go ..... ? The Greenback has made a dramatic run, but without much of a retracement. The Daily charts show the picture quite clearly. If the past is a guide, you can see the dramatic run...

Jerry Furst <div xmlns="http://www.w3.org/1999/xhtml"><p><font face="Arial" size="3"><strong><u>What Goes Down Must Go ..... ?</u></strong></font></p> <p><font face="Arial" size="3">The Greenback has made a dramatic run, but without much of a retracement. The Daily charts show the picture quite clearly. If the past is a guide, you can see the dramatic run up in the Euro in February and March and then the pullback - if for no other reason than to respect the laws of gravity!</font> </p> <p>&nbsp;</p> <p><a href="http://1stonforex.fxstreet.com/WindowsLiveWriter/2008-Aug-18-CHF-Triangle-30-Min.jpg" target="_blank"><img style="border-right: 0px; border-top: 0px; border-left: 0px; border-bottom: 0px" height="231" alt="2008-Aug-18-CHF-Triangle-30-Min" src="http://1stonforex.fxstreet.com/WindowsLiveWriter/2008-Aug-18-CHF-Triangle-30-Min_thumb.jpg" width="365" border="0"></a> </p> <p><strong><u><font face="Arial" size="3">Triangle in Play? Time for the Retracement?</font></u></strong></p> <p><a href="http://1stonforex.fxstreet.com/WindowsLiveWriter/2008-Aug-18--Euro-at-Support.jpg" target="_blank"><img style="border-right: 0px; border-top: 0px; border-left: 0px; border-bottom: 0px" height="241" alt="2008-Aug-18--Euro-at-Support" src="http://1stonforex.fxstreet.com/WindowsLiveWriter/2008-Aug-18--Euro-at-Support_thumb.jpg" width="374" border="0"></a> </p> <p><strong><u><font face="Arial" size="3">Euro at Support on Weekly Chart</font></u></strong></p> <p><strong><u><font face="Arial" size="3"></font></u></strong>&nbsp;</p> <div class="wlWriterSmartContent" id="scid:5737277B-5D6D-4f48-ABFC-DD9C333F4C5D:e87b588c-dae6-47c3-8d4a-ff676d4a2097" style="padding-right: 0px; display: inline; padding-left: 0px; padding-bottom: 0px; margin: 0px; padding-top: 0px"><div id="53b9b375-295e-47ee-a010-acee8dc74846" style="margin: 0px; padding: 0px; display: inline;"><div><a href="http://www.youtube.com/watch?v=F8LwiScirrk" target="_new"><img src="http://1stonforex.fxstreet.com/WindowsLiveWriter/video26a1162f6e27.jpg" galleryimg="no" onload="var downlevelDiv = document.getElementById('53b9b375-295e-47ee-a010-acee8dc74846'); 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- Every Monday at 12 Noon EDT -</font> </font> <p><font size="3"><font face="Arial"><u>Jerry Furst</u>&nbsp; is an active trader, educator, and Founder of <u>Investors Education Network</u> (IEN), He is a Mentor and Trading Coach to Select Clients&nbsp; </font></font><a href="http://www.investorseducationnetwork.com/private-mentoring-coaching.htm"><font face="Arial" size="3">Click Here for a Free Self Evaluation Survey.</font></a> <p><strong><u><font face="Arial" size="3"></font></u></strong>&nbsp;</p> <p> <div class="wlWriterSmartContent" id="scid:0767317B-992E-4b12-91E0-4F059A8CECA8:e77eab71-bb2c-466f-89c2-76a622166c77" style="padding-right: 0px; display: inline; padding-left: 0px; padding-bottom: 0px; margin: 0px; padding-top: 0px">Technorati Tags: <a href="http://technorati.com/tags/Forex" rel="tag">Forex</a>,<a href="http://technorati.com/tags/currency%20trading" rel="tag">currency trading</a>,<a href="http://technorati.com/tags/trading" rel="tag">trading</a>,<a href="http://technorati.com/tags/technical%20analysis" rel="tag">technical analysis</a>,<a href="http://technorati.com/tags/charts" rel="tag">charts</a>,<a href="http://technorati.com/tags/Euro" rel="tag">Euro</a>,<a href="http://technorati.com/tags/CHF" rel="tag">CHF</a>,<a href="http://technorati.com/tags/Swiss%20Franc" rel="tag">Swiss Franc</a>,<a href="http://technorati.com/tags/Canadian" rel="tag">Canadian</a>,<a href="http://technorati.com/tags/dollar" rel="tag">dollar</a>,<a href="http://technorati.com/tags/scheduled%20economic%20calendar" rel="tag">scheduled economic calendar</a></div></p> <p> <div class="wlWriterSmartContent" id="scid:0767317B-992E-4b12-91E0-4F059A8CECA8:0d99b19b-964d-4722-90f8-d6b2f6c4527d" style="padding-right: 0px; 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Below is a Consolidated Summary of Scheduled News Events that I am watching for the "Week Ahead" Note: All times are listed in US Eastern Time Zone and there are other scheduled events that I may not have listed. Jerry's...

Jerry Furst <div xmlns="http://www.w3.org/1999/xhtml"><p><font size="3"><font face="Arial"><u>Below is a Consolidated Summary of Scheduled News Events</u> that I am watching for the "Week Ahead"&nbsp; </font></font> <p><font face="Arial" size="3">Note: All times are listed in US Eastern Time Zone and there are other scheduled events that I may not have listed. </font> <p><u><strong><font face="Arial" size="3">Jerry's US Scheduled News and Event Watch for - August 17 -22</font></strong></u></p> <table cellspacing="1" cellpadding="2" width="600" border="2"> <tbody> <tr> <td valign="top" width="97"><strong><font face="Arial" size="2">Date</font></strong></td> <td valign="top" width="69"><strong><font face="Arial" size="2">Time</font></strong></td> <td valign="top" width="426"><font size="2"><font face="Arial"><strong>Scheduled Event</strong> </font></font></td></tr> <tr> <td valign="top" width="97"><font face="Arial" size="2">Sun 8-17</font></td> <td valign="top" width="71"><font face="Arial" size="2">n/a</font></td> <td valign="top" width="426"><font face="Arial" size="2">n/a</font></td></tr> <tr> <td valign="top" width="97"><font face="Arial" size="2">Mon 8- 18</font></td> <td valign="top" width="71"><font face="Arial" size="2">13:00</font></td> <td valign="top" width="426"><font face="Arial" size="2">Housing Market Index - New Home Sales </font></td></tr> <tr> <td valign="top" width="96"><font face="Arial" size="2">Tue 8-19</font></td> <td valign="top" width="73"><font face="Arial" size="2">8:30<br>8:55<br>10:00</font></td> <td valign="top" width="426"><font face="Arial" size="2">PPI- Producer Price Index and Housing Starts <br>Redbook - Chain Store Sales<br>State Street Investor Confidence INdex</font></td></tr> <tr> <td valign="top" width="95"><font face="Arial" size="2">Wed 8-20</font></td> <td valign="top" width="75"><font face="Arial" size="2">7:00<br>10:35</font></td> <td valign="top" width="426"><font face="Arial" size="2">Mortgage Applications<br>EIA - Petroleum Status Report</font></td></tr> <tr> <td valign="top" width="95"><font face="Arial" size="2">Thu 8-21</font></td> <td valign="top" width="76"><font face="Arial" size="2">8:30<br>10:00<br>10:35</font></td> <td valign="top" width="426"><font face="Arial" size="2">Weekly Jobless Claims<br>Phili Fed Survey and Leading Economic Indicators <br>EIA - Natural Gas Report</font></td></tr> <tr> <td valign="top" width="95"><font face="Arial" size="2">Fri 8-22</font></td> <td valign="top" width="77"><font face="Arial" size="2">10:00</font></td> <td valign="top" width="426"><font face="Arial" size="2">Bernanke Speaks at Jackson Hole</font></td></tr></tbody></table> <p><strong><u><font size="3"><font face="Arial"></font></font></u></strong>&nbsp;</p> <p><strong><u><font size="3"><font face="Arial">Jerry's International Scheduled News and Event Watch for <strong>August 17 - 22</strong></font></font></u></strong></p> <table cellspacing="1" cellpadding="2" width="599" border="2"> <tbody> <tr> <td valign="top" width="89"><font face="Arial" size="2"><strong>Date</strong></font></td> <td valign="top" width="71"><font face="Arial" size="2"><strong>Time</strong></font></td> <td valign="top" width="59"><font face="Arial" size="2"><strong>FX</strong></font></td> <td valign="top" width="370"><font face="Arial" size="2"><strong>Scheduled Event</strong> </font></td></tr> <tr> <td valign="top" width="88">Sun 8-17</td> <td valign="top" width="73">19:01</td> <td valign="top" width="59">GBP</td> <td valign="top" width="370">UK - Housing Price Index</td></tr> <tr> <td valign="top" width="87"><font face="Arial" size="2">Mon 8-18</font></td> <td valign="top" width="74"><font face="Arial" size="2">8:30<br>18:45<br>21:30</font></td> <td valign="top" width="59"><font face="Arial" size="2">CAD<br>NZD<br>AUD</font></td> <td valign="top" width="370"><font face="Arial" size="2">Foreign Investments<br>PPI - Producer Price Index<br>RBA - Meeting Minutes</font></td></tr> <tr> <td valign="top" width="87"><font face="Arial" size="2">Tue 8-19</font></td> <td valign="top" width="74"><font face="Arial" size="2">2:00<br>5:00<br>8:30<br>20:30</font></td> <td valign="top" width="59"><font face="Arial" size="2">EUR<br>EUR<br>CAD<br>AUD</font></td> <td valign="top" width="370"><font face="Arial" size="2">German PPI <br>German Economic Sentiment<br>Wholesale Sales<br>Combined Economic Indicators Index</font></td></tr> <tr> <td valign="top" width="87"><font face="Arial" size="2">Wed 8-20</font></td> <td valign="top" width="74"><font face="Arial" size="2">2:00<br>4:30<br>6:00<br>8:30<br>19:50<br>21:30</font></td> <td valign="top" width="59"><font face="Arial" size="2">JPY<br>GBP<br>GBP<br>CAD<br>JPY<br>AUD</font></td> <td valign="top" width="370"><font face="Arial" size="2">BOJ - Monthly Report<br>MPC - Meeting Minutes<br>Industrial Trends Orders<br>Retail Sales and Leading Indicators<br>Trade Balance Report<br>RBA Monthly Commentary and New Car Sales </font></td></tr> <tr> <td valign="top" width="86"><font face="Arial" size="2">Thu 8-21</font></td> <td valign="top" width="74"><font face="Arial" size="2">3:00<br>3:30<br>4:00<br>4:30<br>7:00<br>19:50</font></td> <td valign="top" width="59"><font face="Arial" size="2">EUR<br>EUR<br>EUR<br>GBP<br>CAD<br>JPY</font></td> <td valign="top" width="370"><font face="Arial" size="2">French Mfg and Services<br>German Mfg and Services<br>Euro Zone Mfg and Services<br>Retail Sales and Business Investment<br>CPI - Consumer Price Index<br>BOJ - Monetary Policy Meeting Minutes </font></td></tr> <tr> <td valign="top" width="86"><font face="Arial" size="2">Fri 8-22</font></td> <td valign="top" width="74"><font face="Arial" size="2">4:00<br>4:30<br>5:00</font></td> <td valign="top" width="59"><font face="Arial" size="2">EUR<br>GBP<br>EUR</font></td> <td valign="top" width="370"><font face="Arial" size="2">Current Account <br>GDP - Revised <br>New Industrial Orders</font></td></tr></tbody></table> <p><u><font face="Arial" 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Did You Get The Memo? Consumer Price Index and Jobless Claims came in with worse than expected numbers on Thursday, but the Euro and the other majors did not get the memo. How Do You Think The Currencies Will React?...

Jerry Furst <div xmlns="http://www.w3.org/1999/xhtml"><p><font size="3"><font face="Arial"><strong><u>Did You Get The Memo?</u></strong> </font></font></p> <p><font face="Arial" size="3">Consumer Price Index and Jobless Claims came in with worse than expected numbers on Thursday, but the Euro and the other majors did not get the memo.</font></p> <p><font size="3"><font face="Arial"><strong><u>How Do You Think The Currencies Will React?</u></strong> </font></font></p> <p><font face="Arial" size="3">Friday will bring in Consumer Sentiment numbers that according to Econoday are expected to come in between 60 and 69 with a consensus of 62 - ... but more importantly - How will the currencies react to the last major news event scheduled for the week.</font></p> <p><font face="Arial" size="3"><strong><u>YouTube For You - Techincal Analysis for the Day Ahead</u></strong></font></p> <div class="wlWriterSmartContent" id="scid:5737277B-5D6D-4f48-ABFC-DD9C333F4C5D:6ca41d00-694e-4ea0-ba68-83db27aac544" style="padding-right: 0px; 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Reader Comments Hi, Do you expect any bounce in GBP above 1.90 again... or looking towards 1.80 levels this month regards - krishna - Posted by: krishna | August 13, 2008 at 05:53 PM I Thought I Would do Something...

Jerry Furst <div xmlns="http://www.w3.org/1999/xhtml"><h5><font face="Arial" size="3"><strong><u>Reader Comments</u></strong></font></h5> <p><a><font face="Arial" size="3"></font></a> <p><font face="Arial" size="3">Hi, Do you expect any bounce in GBP above 1.90 again... or looking towards 1.80 levels this month</font> <p><font face="Arial" size="3">regards - krishna&nbsp; - Posted by: </font><a href="http://www.typepad.com/t/comments?__mode=red&amp;user_id=332615&amp;id=126277050"><font face="Arial" size="3">krishna</font></a><font face="Arial" size="3"> | </font><a href="http://1stonforex.fxstreet.com/2008/08/boe-inflation-r.html#comment-126277050"><font face="Arial" size="3">August 13, 2008 at 05:53 PM</font></a> <p>&nbsp; <p><strong><u>I Thought I Would do Something Different - A Video Response:</u></strong> <p> <div class="wlWriterSmartContent" id="scid:5737277B-5D6D-4f48-ABFC-DD9C333F4C5D:c6adca97-c39a-4764-8352-1d1d55bdac07" style="padding-right: 0px; display: inline; padding-left: 0px; 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250 Pip Drop against Dollar The Pound Sterling nose dived from 1.900 to 1.7500 in minutes as the BOE released a report that indicates lower interest rates may be coming soon. Currently the BOE is holding rates at 5% and...

Jerry Furst <div xmlns="http://www.w3.org/1999/xhtml"><p><strong><u><font face="Arial" size="3">250 Pip Drop against Dollar</font></u></strong></p> <p><font face="Arial" size="3">The Pound Sterling nose dived from 1.900 to 1.7500 in minutes as the BOE released a report that indicates lower interest rates may be coming soon. Currently the BOE is holding rates at 5% and has plenty of room to cut - just to gain parity to the ECB's rate. </font></p> <p><a href="http://1stonforex.fxstreet.com/WindowsLiveWriter/2008-Aug-13-GBP-USD-250-pip-drop-BOE-Inflation-Report.jpg" target="_blank"><img style="border-right: 0px; border-top: 0px; border-left: 0px; border-bottom: 0px" height="333" alt="2008-Aug-13-GBP-USD-250-pip-drop-BOE-Inflation-Report" src="http://1stonforex.fxstreet.com/WindowsLiveWriter/2008-Aug-13-GBP-USD-250-pip-drop-BOE-Inflation-Report_thumb.jpg" width="498" border="0"></a> </p> <p><font size="3"><font face="Arial"><strong><u>GBP - USD 1 Minutes Chart 250 Pip Drop</u></strong><font size="2"> (click to enlarge)</font> Dramatic example of Scheduled News Events effects on currencies.</font></font></p> <p> <div class="wlWriterSmartContent" id="scid:0767317B-992E-4b12-91E0-4F059A8CECA8:976a890b-5570-4ce7-82a4-0ba8497f6ed9" style="padding-right: 0px; display: inline; padding-left: 0px; padding-bottom: 0px; 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The US Dollar Rally took a rest on Tuesday even as good news for the Greenback came in the way of a better than expected Trade Balance report. Euro vs US Dollar - 30 Minute Chart above (click to enlarge)...

Jerry Furst <div xmlns="http://www.w3.org/1999/xhtml"><p><font face="Arial" size="3">The US Dollar Rally took a rest on Tuesday even as good news for the Greenback came in the way of a better than expected Trade Balance report.</font> </p> <p><a href="http://1stonforex.fxstreet.com/WindowsLiveWriter/2008-Aug-12-EUR-USD-30-Min-650-Pip-Drop_1.jpg" target="_blank"><img style="border-right: 0px; border-top: 0px; border-left: 0px; border-bottom: 0px" height="351" alt="2008-Aug-12-EUR-USD-30-Min-650-Pip-Drop" src="http://1stonforex.fxstreet.com/WindowsLiveWriter/2008-Aug-12-EUR-USD-30-Min-650-Pip-Drop_thumb_1.jpg" width="528" border="0"></a> </p> <p><font size="3"><font face="Arial"><strong>Euro vs US Dollar - 30 Minute Chart above</strong> (click to enlarge) shows the 650 pip drop in the last four trading days, and the current consolidation.</font></font></p> <p><strong><u><font face="Arial" size="3">Yen Rallies vs Dollar even with Weak GDP</font></u></strong> </p> <p><font face="Arial" size="3">Meanwhile, The US Dollar Fell in the Asian Session as Japan reported a 0.6% drop in GDP. This number was inline with expectations. But it is surprising to see the Greenback drop about 100 pips on the news.</font> </p> <p><a href="http://1stonforex.fxstreet.com/WindowsLiveWriter/2008-Aug-12-USD-JPY-Daily-At%20Support_1.jpg" target="_blank"><img style="border-right: 0px; border-top: 0px; border-left: 0px; border-bottom: 0px" height="351" alt="2008-Aug-12-USD-JPY-Daily-At Support" src="http://1stonforex.fxstreet.com/WindowsLiveWriter/2008-Aug-12-USD-JPY-Daily-At%20Support_thumb_1.jpg" width="524" border="0"></a> </p> <p><font face="Arial" size="3"><strong><u>US Dollar vs Yen Daily Chart Above and 30 Minute Chart Below Shows...</u></strong>&nbsp;</font></p> <p><font face="Arial" size="3">shows the Yen is at a support level of convergence with horizontal trend line support, and rising trend channel support. It is interesting to look at the two charts of different time frames as the 30 minute chart highlights and brings into focus the support level.</font></p> <p><a href="http://1stonforex.fxstreet.com/WindowsLiveWriter/2008-Aug-12-USD-JPY-60-Min-At%20Support_1.jpg" target="_blank"><img style="border-right: 0px; border-top: 0px; border-left: 0px; border-bottom: 0px" height="347" alt="2008-Aug-12-USD-JPY-60-Min-At Support" src="http://1stonforex.fxstreet.com/WindowsLiveWriter/2008-Aug-12-USD-JPY-60-Min-At%20Support_thumb_1.jpg" width="525" border="0"></a> </p> <p><u><font face="Arial" size="3">*** Your Invitation For Free Live Market Coverage and Analysis Webinars ***</font></u> <p><a href="http://www.fxstreet.com/live/sessions/session.aspx?id=d899d4f3-44fc-415d-8315-c44b6ae92cf7"><font face="Arial" size="3">Click Here</font></a><font face="Arial" size="3"> to Register for this weeks "1st on Forex" The Week Ahead Webinar&nbsp; - Every Monday at 12 Noon EDT - </font> <p><font size="3"><font face="Arial"><u>Jerry Furst</u>&nbsp; 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As US Data is Scheduled The Euro continued to give up ground on Monday against the US Dollar as did the Sterling, Swiss, and Aussie. The Yen, and Canadian Stayed stable. Tuesday brings no scheduled news for the Euro zone...

Jerry Furst <div xmlns="http://www.w3.org/1999/xhtml"><p><font face="Arial" size="3"><strong><u>As US Data is Scheduled</u></strong> </font></p> <p><font face="Arial" size="3">The Euro continued to give up ground on Monday against the US Dollar as did the Sterling, Swiss, and Aussie. The Yen, and Canadian Stayed stable. </font></p> <p><font face="Arial" size="3">Tuesday brings no scheduled news for the Euro zone worthy of mention, but the US calendar brings in International Trade reports in the morning and the US Treasury Budget later in the afternoon. This may give the currencies some time to retrace - time will tell.</font></p> <p><font face="Arial" size="3"><strong><u>Euro Inside Old Support Range</u></strong></font></p> <p><strong><u><font face="Arial" size="3"><a href="http://1stonforex.fxstreet.com/WindowsLiveWriter/2008-Aug-12-Euro-USD-Daily-Old%20Consolidation%20range.jpg"><img style="border-right: 0px; border-top: 0px; border-left: 0px; border-bottom: 0px" height="329" alt="2008-Aug-12-Euro-USD-Daily-Old Consolidation range" src="http://1stonforex.fxstreet.com/WindowsLiveWriter/2008-Aug-12-Euro-USD-Daily-Old%20Consolidation%20range_thumb.jpg" width="492" border="0"></a></font></u></strong></p> <p><strong><font face="Arial" size="3">August 12, 2008 - daily Chart&nbsp; (Click to Enlarge) </font></strong></p> <p><strong><font face="Arial" size="3">The Euro has now fallen Through Support and is in familiar territory. </font></strong></p> <p><strong><font face="Arial" size="3">From Nov 2007 through March 2008 the Euro trended Sideways from 1.4300 - 1.500</font></strong></p> <p><u>Jerry Furst</u>&nbsp; is an active trader, educator, and Founder of <u>Investors Education Network</u> (IEN), He is a Mentor and Trading Coach to Select Clients&nbsp; <a href="http://www.investorseducationnetwork.com/private-mentoring-coaching.htm">Click Here for a Free Self Evaluation Survey.</a></p> <p>&nbsp;</p> <p> <div class="wlWriterSmartContent" id="scid:0767317B-992E-4b12-91E0-4F059A8CECA8:e16864d7-21f1-4781-96f2-f00d8eb4a3c8" style="padding-right: 0px; display: inline; padding-left: 0px; padding-bottom: 0px; margin: 0px; padding-top: 0px">BuzzNet Tags: <a href="http://www.buzznet.com/tags/Forex" rel="tag">Forex</a>,<a href="http://www.buzznet.com/tags/trading" rel="tag">trading</a>,<a href="http://www.buzznet.com/tags/currencies" rel="tag">currencies</a>,<a href="http://www.buzznet.com/tags/technical%20analysis" rel="tag">technical analysis</a>,<a href="http://www.buzznet.com/tags/charts" rel="tag">charts</a>,<a href="http://www.buzznet.com/tags/Euro" rel="tag">Euro</a>,<a href="http://www.buzznet.com/tags/US%20Dollar" rel="tag">US Dollar</a>,<a href="http://www.buzznet.com/tags/economic%20news" rel="tag">economic news</a></div></p> <p> <div class="wlWriterSmartContent" id="scid:0767317B-992E-4b12-91E0-4F059A8CECA8:33528e3a-1d34-4d0c-85c4-3eb41a6ecd05" style="padding-right: 0px; 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Below is a Consolidated Summary of Scheduled News Events that I am watching for the "Week Ahead" Note: All times are listed in US Eastern Time Zone and there are other scheduled events that I may not have listed. Jerry's...

Jerry Furst <div xmlns="http://www.w3.org/1999/xhtml"><p><font size="3"><font face="Arial"><u>Below is a Consolidated Summary of Scheduled News Events</u> that I am watching for the "Week Ahead"&nbsp; </font></font> <p><font face="Arial" size="3">Note: All times are listed in US Eastern Time Zone and there are other scheduled events that I may not have listed. </font> <p><u><strong><font face="Arial" size="3">Jerry's US News Watch for - August 11 -15</font></strong></u></p> <table cellspacing="1" cellpadding="2" width="514" border="2"> <tbody> <tr> <td valign="top" width="92"><font face="Arial">Mon 8-11</font></td> <td valign="top" width="74"><font face="Arial">n/a</font></td> <td valign="top" width="340"><font face="Arial">n/a</font></td></tr> <tr> <td valign="top" width="93"><font face="Arial">Tue&nbsp; 8-12</font></td> <td valign="top" width="76"><font face="Arial">7:45<br>8:30<br>8:55<br>14:00</font></td> <td valign="top" width="340"><font face="Arial">UBS Store Sales<br>INternational Trade<br>Redbook<br>US Treasury Budget </font></td></tr> <tr> <td valign="top" width="94"><font face="Arial">Wed 8-13</font></td> <td valign="top" width="77"><font face="Arial">7:00<br>8:30<br>10:35</font></td> <td valign="top" width="340"><font face="Arial">MBA - Mortgage Purchase Applications<br>Import-Export Prices &amp; Retail Sales<br>EIA Petroleum Status Report</font></td></tr> <tr> <td valign="top" width="94"><font face="Arial">Thu 8-14</font></td> <td valign="top" width="78"><font face="Arial">8:30<br>10:35</font></td> <td valign="top" width="340"><font face="Arial">CPI Consumer Price Index &amp; Weekly Jobless Claims<br>EIA Natural Gas Report</font></td></tr> <tr> <td valign="top" width="94"><font face="Arial">Fri 8 -15</font></td> <td valign="top" width="79"><font face="Arial">8:30<br>9:00<br>9:15<br>10:00</font></td> <td valign="top" width="340"><font face="Arial">Empire State Mfg Survey<br>TICS - International In and Out Flows<br>Industrial Production<br>Consumer Sentiment</font></td></tr></tbody></table> <p><strong><u><font face="Arial" size="3"></font></u></strong>&nbsp; <p><strong><u><font face="Arial" size="3">Jerry's International News Watch for </font><strong><font face="Arial" size="3">August 11 - 15</font> </strong></u></strong></p> <table cellspacing="1" cellpadding="2" width="551" border="2"> <tbody> <tr> <td valign="top" width="99"><font face="Arial">Mon 8-11</font></td> <td valign="top" width="72"><font face="Arial">4:30<br>8:15<br>19:01<br>21:30</font></td> <td valign="top" width="50"><font face="Arial">GBP<br>CAD<br>GBP<br>AUD</font></td> <td valign="top" width="321"><font face="Arial">Trade Balance and PPI <br>Housing Starts <br>Retail Sales - RICS Housing Prices<br>Business Confidence</font></td></tr> <tr> <td valign="top" width="97"><font face="Arial">Tue 8-12</font></td> <td valign="top" width="73"><font face="Arial">4:30<br>8:30<br>19:50<br>20:30<br>21:30</font></td> <td valign="top" width="53"><font face="Arial">GBP<br>CAD<br>JPY<br>AUD<br>AUD</font></td> <td valign="top" width="321"><font face="Arial">CPI and Housing Prices<br>Trade Balance<br>GDP<br>Consumer Sentiment<br>Wage Prices Index</font></td></tr> <tr> <td valign="top" width="95"><font face="Arial">Wed 8-13</font></td> <td valign="top" width="74"><font face="Arial">4:30<br>5:00<br>5:30</font></td> <td valign="top" width="56"><font face="Arial">GBP<br>EUR<br>GBP</font></td> <td valign="top" width="321"><font face="Arial">Unemployment - Avg Earnings Index<br>Industrial Production<br>BOE - Inflation Report</font></td></tr> <tr> <td valign="top" width="95"><font face="Arial">Thu 8-14</font></td> <td valign="top" width="74"><font face="Arial">2:00<br>5:00<br>10:30<br>18:45</font></td> <td valign="top" width="58"><font face="Arial">EUR<br>EUR<br>CAD<br>NZD</font></td> <td valign="top" width="321"><font face="Arial">German GDP<br>CPI and GDP<br>BOC - Quarterly Statistics<br>Core and Retail Sales </font></td></tr> <tr> <td valign="top" width="94"><font face="Arial">Fri 8-15</font></td> <td valign="top" width="74"><font face="Arial">8:30</font></td> <td valign="top" width="60"><font face="Arial">CAD</font></td> <td valign="top" width="321"><font face="Arial">Mfg Shipments</font> </td></tr></tbody></table> <p><u><strong></strong></u>&nbsp;</p> <p><u><font face="Arial" size="3">*** Your Invitation For Free Live Market Coverage and Analysis Webinars ***</font></u></p> <p><a href="http://www.fxstreet.com/live/sessions/session.aspx?id=fea53f85-351c-429c-ab94-f8ccd8583594"><font face="Arial" size="3">Click Here</font></a><font face="Arial" size="3"> to Register for this weeks "1st on Forex" The Week Ahead Webinar&nbsp; 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No Surprise on Interest Rates - So What's the Panic About? Trichet has suddenly seen the light of the economic train bearing down on him with the horn blaring a siren of economic weakness. Does he now feel that Bernanke...

Jerry Furst <div xmlns="http://www.w3.org/1999/xhtml"><p><font face="Arial" size="3"><strong><u>No Surprise on Interest Rates - So What's the Panic About?</u></strong> </font></p> <p><font face="Arial" size="3">Trichet has suddenly seen the light of the economic train bearing down on him with the horn blaring a siren of economic weakness. Does he now feel that&nbsp; Bernanke and the FOMC across the pond have taken the proper path? Well things are not so clear cut, and that's what makes the financial markets such an interesting game. </font></p> <p><font face="Arial" size="3"><strong><u>Oil Heads Lower - $30 per Barrel - Believe Me Later </u></strong></font></p> <p><font face="Arial" size="3">As the US Dollar continues to Strengthen - Oil is breaking one support level after another and seems to be heading for the $100 range. In my opinion anything above $30 is too damn high... but that's me.... I'm going to go out on a long limb here and say that once Oil falls off the radar screen and the lips of the financial pundits that $30 per barrel may be the new support level. It might take a year or more - but I will revisit this in the future(s).</font></p> <p><font face="Arial" size="3"><u><strong>Is Euro Over Sold? 800 Pip Drop To Continue?</strong></u></font></p> <p><font face="Arial" size="3">After the FOMC announcement on August 5, I stated that if the Euro breaks below 1.5350 the US Dollar might be reclaiming it's footing and getting traction - I posted the Weekly chart of the Euro approaching support - The Euro is now testing 1.5200 - It's a new day!</font></p> <p><font face="Arial" size="3"><a href="http://1stonforex.fxstreet.com/WindowsLiveWriter/2008-Aug-7--%20Euro-USD-Weekly--Support-Broken.jpg" target="_blank"><img style="border-right: 0px; border-top: 0px; border-left: 0px; border-bottom: 0px" height="333" alt="2008-Aug-7-- Euro-USD-Weekly--Support-Broken" src="http://1stonforex.fxstreet.com/WindowsLiveWriter/2008-Aug-7--%20Euro-USD-Weekly--Support-Broken_thumb.jpg" width="500" border="0"></a> </font></p> <p><u><strong><font face="Arial" size="3">Euro Breaks Support - Weekly Chart Tells the Story</font></strong></u> (click to Enlarge)&nbsp; </p> <p><font face="Arial" size="3">On July 15, 2008 the Euro traded at a all time high of approx 1.6030 - The current price today August 7, 2008 is approx 1.5230. My indicators on all time frames above 30 minutes show that the momentum to the downside has not completed yet. This 800 pip drop seems to continue </font></p> <p><font face="Arial" size="3"><u><strong>Dollar - Yen Poised in Consolidation</strong></u> </font></p> <p><font face="Arial" size="3"><a href="http://1stonforex.fxstreet.com/WindowsLiveWriter/2008-Aug-7--USD-Yen-60-Minute-Consolidation.jpg" target="_blank"><img style="border-right: 0px; border-top: 0px; border-left: 0px; border-bottom: 0px" height="328" alt="2008-Aug-7--USD-Yen-60-Minute-Consolidation" src="http://1stonforex.fxstreet.com/WindowsLiveWriter/2008-Aug-7--USD-Yen-60-Minute-Consolidation_thumb.jpg" width="497" border="0"></a> </font></p> <p><font face="Arial" size="3">The Dollar has posted an impressive gain against the Yen running from 104 to almost 110 since July 15. </font></p> <p><font face="Arial" size="3">The 60 Minute Chart Above Shows a Nice Consolidation As the Dollar is Approaching Resistance on the Yen.</font></p> <p><u><strong>*** Your Invitation For Free Live Market Coverage and Analysis Webinars ***</strong></u> <p><a href="http://www.fxstreet.com/live/sessions/session.aspx?id=fea53f85-351c-429c-ab94-f8ccd8583594"><font color="#400080"><strong>Click Here</strong></font></a> to Register for my "1st on Forex" The Week Ahead Webinar&nbsp; - Every Monday at 12 Noon EDT - <p><u>Jerry Furst</u>&nbsp; is an active trader, educator, and Founder of <u>Investors Education Network</u> (IEN), He is a Mentor and Trading Coach to Select Clients&nbsp; <a href="http://www.investorseducationnetwork.com/private-mentoring-coaching.htm">Click Here for a Free Self Evaluation Survey.</a> <p><font face="Arial" size="3"></font>&nbsp;</p> <p> <div class="wlWriterSmartContent" id="scid:0767317B-992E-4b12-91E0-4F059A8CECA8:937ee58c-0744-48dc-a9c1-fc59f017a39d" style="padding-right: 0px; display: inline; padding-left: 0px; padding-bottom: 0px; margin: 0px; padding-top: 0px">IceRocket Tags: <a href="http://blogs.icerocket.com/search?q=Forex" rel="tag">Forex</a>,<a href="http://blogs.icerocket.com/search?q=Trading" rel="tag">Trading</a>,<a href="http://blogs.icerocket.com/search?q=Webinars" rel="tag">Webinars</a>,<a href="http://blogs.icerocket.com/search?q=Euro" rel="tag">Euro</a>,<a href="http://blogs.icerocket.com/search?q=Dollar" rel="tag">Dollar</a>,<a href="http://blogs.icerocket.com/search?q=trichet" rel="tag">trichet</a>,<a href="http://blogs.icerocket.com/search?q=Bernanke" rel="tag">Bernanke</a>,<a href="http://blogs.icerocket.com/search?q=Interest%20rates" rel="tag">Interest rates</a>,<a href="http://blogs.icerocket.com/search?q=currencies" rel="tag">currencies</a>,<a href="http://blogs.icerocket.com/search?q=oil" rel="tag">oil</a></div></p> <p> <div class="wlWriterSmartContent" id="scid:0767317B-992E-4b12-91E0-4F059A8CECA8:b81507d2-480c-42ff-b6d2-9a476855fd05" style="padding-right: 0px; display: inline; padding-left: 0px; padding-bottom: 0px; margin: 0px; padding-top: 0px">Technorati Tags: <a href="http://technorati.com/tags/Forex" rel="tag">Forex</a>,<a href="http://technorati.com/tags/Trading" rel="tag">Trading</a>,<a href="http://technorati.com/tags/Webinars" rel="tag">Webinars</a>,<a href="http://technorati.com/tags/Euro" rel="tag">Euro</a>,<a href="http://technorati.com/tags/Dollar" rel="tag">Dollar</a>,<a href="http://technorati.com/tags/trichet" rel="tag">trichet</a>,<a href="http://technorati.com/tags/Bernanke" rel="tag">Bernanke</a>,<a href="http://technorati.com/tags/Interest%20rates" rel="tag">Interest rates</a>,<a href="http://technorati.com/tags/currencies" rel="tag">currencies</a>,<a href="http://technorati.com/tags/oil" rel="tag">oil</a></div></p> <p> <div class="wlWriterSmartContent" id="scid:0767317B-992E-4b12-91E0-4F059A8CECA8:78d11358-c32d-4b39-895d-65b9e2fb65e6" style="padding-right: 0px; display: inline; padding-left: 0px; padding-bottom: 0px; margin: 0px; padding-top: 0px">del.icio.us Tags: <a href="http://del.icio.us/popular/Forex" rel="tag">Forex</a>,<a href="http://del.icio.us/popular/Trading" rel="tag">Trading</a>,<a href="http://del.icio.us/popular/Webinars" rel="tag">Webinars</a>,<a href="http://del.icio.us/popular/Euro" rel="tag">Euro</a>,<a href="http://del.icio.us/popular/Dollar" rel="tag">Dollar</a>,<a href="http://del.icio.us/popular/trichet" rel="tag">trichet</a>,<a href="http://del.icio.us/popular/Bernanke" rel="tag">Bernanke</a>,<a href="http://del.icio.us/popular/Interest%20rates" rel="tag">Interest rates</a>,<a href="http://del.icio.us/popular/currencies" rel="tag">currencies</a>,<a href="http://del.icio.us/popular/oil" rel="tag">oil</a></div></p> <div class="wlWriterSmartContent" id="scid:0767317B-992E-4b12-91E0-4F059A8CECA8:c9fc4b81-2b7d-49ba-98e7-afcbab0dcfc4" style="padding-right: 0px; display: inline; padding-left: 0px; padding-bottom: 0px; margin: 0px; padding-top: 0px">LiveJournal Tags: <a href="http://www.livejournal.com/interests.bml?int=Forex" rel="tag">Forex</a>,<a href="http://www.livejournal.com/interests.bml?int=Trading" rel="tag">Trading</a>,<a href="http://www.livejournal.com/interests.bml?int=Webinars" rel="tag">Webinars</a>,<a href="http://www.livejournal.com/interests.bml?int=Euro" rel="tag">Euro</a>,<a href="http://www.livejournal.com/interests.bml?int=Dollar" rel="tag">Dollar</a>,<a href="http://www.livejournal.com/interests.bml?int=trichet" rel="tag">trichet</a>,<a href="http://www.livejournal.com/interests.bml?int=Bernanke" rel="tag">Bernanke</a>,<a href="http://www.livejournal.com/interests.bml?int=Interest%20rates" rel="tag">Interest rates</a>,<a href="http://www.livejournal.com/interests.bml?int=currencies" rel="tag">currencies</a>,<a href="http://www.livejournal.com/interests.bml?int=oil" rel="tag">oil</a></div> <div class="wlWriterSmartContent" id="scid:0767317B-992E-4b12-91E0-4F059A8CECA8:aebc89b3-8de0-4b86-ba9e-44b247fd0878" style="padding-right: 0px; display: inline; padding-left: 0px; float: none; padding-bottom: 0px; margin: 0px; padding-top: 0px">BuzzNet Tags: <a href="http://www.buzznet.com/tags/Forex" rel="tag">Forex</a>,<a href="htt