Details Coming Soon….

 Meanwhile - Technically Speaking

EUR-GBP 15 Min Chart (click to enlarge) Shows a beautiful Technical Analysis Lesson

-  “High and Low Water Marks from 0.90 to 0.8925

- Consolidation

- Possible Inverse Head And Shoulder Forming Right Shoulder

- Fibonnaci Extensions and Retracement with “potential Price Targets

Tune in to the “1^st on Forex” Webinars on FX Street

Every Monday - The Week Ahead at 16:00 GMT (12 Noon Eastern)- Click Here

Jerry Furst  is an active trader, educator, and Founder of Investors Education Network (IEN), He is a Mentor and Trading Coach to Select Clients  Click Here for a Free Self Evaluation Survey.

By Jerry Furst - Sr Analyst: 1st on Forex -  Investors Education Network

Mind Your Head - Bank Stress Test Leaves No Pain!

The US equity markets continue to look bullish and some are calling the Bears out for their final slaughter - The long awaited, delayed, and leaked Bank “Stress Test” hit the market with a whimper on Thursday.

The results - 10 of the19 “Too Big to Fail” banks will need about $75 Billion USD to shore up an estimated total of $599 Billion in losses.

S&P 500 Daily - as the chart above shows the 200 MA on the S&P 500 within tagging range - also note the previous years “Sell in May and Go Away” working quite well. Who’s getting ready to clock their profits and take off for the summer?

The Euro has been trending higher and a review of my posts of last week show the Head and Shoulder Pattern in play with an ultimate pattern target of 1.3750 only 100 pips away as of this writing - May 10^th  - 22:30 EST

EUR-USD - The two charts above show last weeks post compared to where we are now. (click to enlarge charts) - Nice trend in play

Loonie Looms Large - Back to Parity?

The long consolidation on the USD-CAD that began back in October of 2008 is over! The Daily and 4 Hour charts posted here show a beautiful Head and Shoulder breakout with strong momentum to the downside.

USD-CAD The above charts from April 19 and Today May 11^th show that there is potentially another 300 pips to go before the Head and Shoulder pattern plays out at around the 1.1200 range. (click to enlarge charts)

The Week Ahead - Calendar and Webinar

US News to Watch for this week includes:

Tuesday - International Trade and Treasury Budget

Thursday - PPI - Weekly Jobless Claims

Friday - CPI - TICS Data - Consumer Sentiment

Tune in to the “1^st on Forex” Webinars on FX Street

Every Monday - The Week Ahead at 16:00 GMT (12 Noon Eastern)- Click Here

Jerry Furst  is an active trader, educator, and Founder of Investors Education Network (IEN), He is a Mentor and Trading Coach to Select Clients  Click Here for a Free Self Evaluation Survey.

By Jerry Furst - Sr Analyst - Investors Education Network

 Euro Poised For Breakout?

The Daily Chart of the EUR-USD (above) shows the Euro breaking resistance of a trend chanell

While the 4 Hour Chart of the EUR-USD (above) shows an Inverse Head and Shoulder

This is confirmed with the Inverse Correlated USD-CHF (above) with a Head and Shoulder

Both 4 Hour charts show a strong Support and Resistance lines .

 The Week Ahead

The long awaited results of the so called “Stress Test” of US banks has been delayed. Speculation is that the original results were “sugar coated” for the government view and the requirements for some banks to raise more capital and could roil the markets.

 Tuesday, Fed Chairman Ben Bernanke testifies to the Joint Economic Committee of Congress with his outlook on the US and the “Bizzaro” World Economy

 Thursday has the ECB and BoE with Interest rate and Quantitative Easing policy and other “unconventional methods” to combat the

 Friday has US Non Farm Payroll and Canada Unemployment Data

Tune in to the 1st on Forex - Week Ahead  Webinar - Click Here

Jerry Furst  is an active trader, educator, and Founder of Investors Education Network (IEN), He is a Mentor and Trading Coach to Select Clients  Click Here for a Free Self Evaluation Survey.