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As the Dollar Bides Its Time
It has been a rather boring week of headlines and news announcements compared to the volatility of the past few weeks.
Focusing on the US Dollar - It could be argued that intervention is at work propping up the Greenback for the past two weeks. Active traders have witnessed an amazing pause in the laws of gravity as the Dollar has actually strengthened in the face of negative forces, most notably after the Fed cut interest rates on March 18. Others may call it consolidation… But the Dollar can only hold on for so long - paused against expectations of further rates cuts by Bernanke. The EMU has expressed several times this past week that their main concern is with inflation and feel that growth will continue as demand continues from areas other than the US.
Pound Losing It’s Sterling?
The Above Chart Shows a Classic Head and Shoulders patter on a 30 minute chart that would have netted savvy Technical Traders with over 130 pips!
Euro on the Rise!
The Chart Above Shows the Euro Strengthening against the Pound
Jerry Furst is an active trader, educator, and Founder of Investors Education Network (IEN), Tune into his broadcasts weekly on FX Street with “1stonForex the Week Ahead”. He is available as a Mentor and Trading Coach to Select Clients Click Here for a Free Survey and 15 Minute Consultation