Dollar Rally Pauses - Charts Tell The Story

The Dollar may be poised to retrace as several bad numbers are out again so far this week, GM is still teetering on either Bankruptcy or Bailout, and Wednesday is bringing CPIand Housing Data that may poke the charts around a bit. Take a look at the following three 4 Hour charts of the Euro, Loonie, and Swiss pairs versus the US Dollar.

Euro at the Crossroads - Triangles and Trend Chanells (click Above)

USD-CAD - Trend Chanell or Triangle Break (click above)

USD-CHF: Upward Trend Coming to the End of the Road?

 Jim Rogers, “It’s Happening Again!”

The famed trader speaks on the US Dollar, Real Estste Speculation, and more…

 http://www.ft.com/cms/893ac9c8-757e-11dc-b7cb-0000779fd2ac.html?_i_referralObject=929363526&fromSearch=n  From www.FT.com

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Jerry Furst is Sr Technical and Market Analyst and Founder of Investors Education Network (IEN), He is a an active trader, educator, mentor, and trading coach to Select Clients 

Bailout - Recovery  - Stabilzation Plan - REJECTED

The drama just got turned up a notch, as the US House voted 228 against vs. 205 for approval of the $700 Billion crisis. Stocks initially cratered over 700 points with more floor traders in the NYSE than has been seen in years.

US Dollar Stable after Initial Spike Down

The Euro spiked from 1.44 to 1.456

The Pound spiked from 1.8030 to 1.8160

The USD - Yen Spiked from 105.20 to 104.20

Systemic Problem shifts from the economy to politics

Repuplicans wasted no time in blaming House Leader Pelosi

No New Congressional Action Until Thursday at Earliest

Financial Markets in the Hands of Congress - Working Through the Night

 Tensions and Anxiety - Buying “Puts on SKY”

Talk of  “the end of ____________” run rampant - fill in the blank with whatever you want. Conspiracy Theorists are having the spotlight as Chicken Little is buying puts on sky! Either this will turn out to be the best bottom - capitulation in history  or it may be the end of history as we know it.  Sounds Dramatic - It Is.

More Bank Failures - Public Pissed - Professionals Pause 

As Washington Mutual crumbled into the arms of JP Morgan last week, Rumors are rampant that Wachovia Bank is on the edge. It’s amazing for me to talk to people from all walks of life and get their perspective on the current chapter of the financial crisis.

Three Perspectives

The general public:  is clueless, angry,  and scared -

The savvy and optimistic  financial investor:  believes that this is the best time to get in to the market and assures me that big money is sitting on the sidelines, starting to buy and waiting to buy more.

While others that have studied the deeper issues are looking at the current global picture and are telling me things that I prefer not to print.

Stay Tuned….

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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.