No Surprise - But Dollar Continues Slide

US GDP came in at 1.3%  the low end of expectations - not a surprise as the US Dollar had been sliding since the London open. The initial spike that nailed the Dollar as the news was announced was short lived, tapping out small stops before pausing and then the Euro proceeded to post all time highs 0f 1.3682.

Who is Jerry Furst? As Sr. Analyst, and Founder of Investors Education Network (IEN), Mr. Furst is also a mentor and trading coach to select clients. Tune in to see his live Webcasts on FX Street.com - http://www.FX Street.com/live/sessions/session.aspx?id=9f3ada84-57db-4980-be30-0fb5d84dec4b 

Jerry can be reached at JerryB1st@ienweb(dot)com or visit www.InvestorsEducationNetwork.com.

Almost 100 pip move takes the AUD from .8340 to .8240 as Consumer Price Index comes in weaker than expected. Dollar continues to retrace last weeks losses.

Who is Jerry Furst? As Sr. Analyst, and Founder of Investors Education Network (IEN), Mr. Furst is also a mentor and trading coach to select clients. Tune in to see his live Webcasts on FX Street.com

Jerry can be reached at JerryB1st@ienweb(dot)com or visit www.InvestorsEducationNetwork.com.

Last week I was unable to track or trade the markets due to a week of training.

So of course while I was unable to trade the US Dollar sank against almost all currencies and the USD-GBP crossed the $2.00 mark.

The USD-CAD Worth Another Look?

As the Dollar Cad settles into a range on the 30 Minute chart  - the Daily chart shows the Loonie at the support line of the downtrend.  (Click on charts to enlarge)

Bounce or Break - You Make the Call

Who is Jerry Furst? As Sr. Analyst, and Founder of Investors Education Network (IEN), Mr. Furst is also a mentor and trading coach to select clients. Tune in to see his live Webcasts on FX Street.com

Jerry can be reached at JerryB1st@ienweb(dot)com or visit www.InvestorsEducationNetwork.com.

Market News International reported today that the Bank of France netted 1.6 Billion Euros selling 105 tonnes of gold last year. The proceeds from the gold sales were invested in currencies which yield more.

The report goes on to say that the central bank governor Christian Noyer said, "We don’t speculate on the price of gold"

Well - France may not speculate on precious metals, but long live the Carry Trade!

Click on Chart to Enlarge

Who is Jerry Furst? As Sr. Analyst, and Founder of Investors Education Network (IEN), Mr. Furst is also a mentor and trading coach to select clients. Tune in to see his live Webcasts on FX Street.com

Jerry can be reached at JerryB1st@ienweb(dot)com or visit www.InvestorsEducationNetwork.com.

Waiting on the Bank of Japan to Announce Interest Rate Policy  - (Click on Chart to Enlarge)

Who is Jerry Furst? As Sr. Analyst, and Founder of Investors Education Network (IEN), Mr. Furst is also a mentor and trading coach to select clients. Tune in to see his live Webcasts on FX Street.com

Jerry can be reached at JerryB1st@ienweb(dot)com or visit www.InvestorsEducationNetwork.com.

OK - Non Farm Payrolls posted a strong gain of 180K,

now the question is whether the US economy is as strong as the numbers indicate. If it is then Ben Bernanke and the FOMC will be under pressure to raise rates. This is due to the fact that the strength of employment in the US continues - despite plenty of reasons that the economy should be moderating.

Bottom line,  Long term the US Dollar is Under Pressure However - exchange rates will likely stay in the current range until the next FOMC meeting. The one thing that might make the Dollar tank before then is that the IMF is going to release it’s report next week that will likely put pressuring the US Dollar. For now the Easter holiday weekend has arrived and the markets have closed without any major move.

Look to the USD-JPY for clues as to what may happen….

Click on Chart to Enlarge

Note: this is not a recommendation to trade - anything can happen - but this is a great example of Technical Analysis at Work.

Who is Jerry Furst? As Sr. Analyst, and Founder of Investors Education Network (IEN), Mr. Furst is also a mentor and trading coach to select clients. Tune in to see his live Webcasts on FX Street.com

Jerry can be reached at JerryB1st@ienweb(dot)com or visit www.InvestorsEducationNetwork.com.

For the past two weeks the Loonie has consolidated nicely between the 25 and 38.2 Fibonacci retracement. Once this range is broken - it will likely determine the next major move - either back to 1.1900 or down to 1.1400. A nice pile of pips from the current level of approximate 1.1600!

(Click on chart to enlarge)

Note: this is not a recommendation to trade - anything can happen - but this is a great example of Technical Analysis at Work.

Who is Jerry Furst? As Sr. Analyst, and Founder of Investors Education Network (IEN), Mr. Furst is also a mentor and trading coach to select clients. Tune in to see his live Webcasts on FX Street.com

Jerry can be reached at JerryB1st@ienweb(dot)com or visit www.InvestorsEducationNetwork.com.