by Jerry Furst – Sr Analyst at www.Investors-Education-Network.com

The Scary Carry Trade

China is concerned that the US Dollar will continue to fall and potentially cause global inflation in commodity prices. Bloomberg is reporting several Chinese officials as being “scared” and concerned about the speculation taking place as some currencies such as the Australian Dollar are being played for the new Carry Trade with the US taking the role of Japan’s easy monetary policy.

Aussie – US Dollar: Seeking Parity?

A Look at the Weekly Chart on the AUD-USD shows that the pair is racing to make a double top with parity as a potential target. The Daily Chart shows a sustained uptrend that just does not want to quit.  When watching the Aussie, traders should be aware of the correlation to Gold. This correlation  may disconnect if Gold decides to overshoot or correct.

Australian Dollar Seeking Parity?

Australian Dollar Seeking Parity?

The AUD-USD Weekly chart above (click to enlarge) shows the 75% retracement has been exceeded and a double top at 98.50 puts parity of the Australian Dollar with the Greenback within the range of possibilities.

The Trend is Your Friend - Until the End!

AUD-USD Daily  chart above (click to enlarge) shows two strong upward trend channel’s making a move that is hard to trade against.

The Week Ahead - gets Started Sunday! Webinar Monday

Lot’s of news in the opening session of the week as New Zealand, Japan and the UK have potential market moving news scheduled to kick start the volatility for the week.

Tune in to my webinar on FX Street with the link at the bottom of this post

Summarized List of Scheduled News for the Week Ahead

For a List of Economic Calendars and times for news events –

Visit and Bookmark

==> http://www.investors-education-network.com/economic-calendar.htm

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US Scheduled News

Monday: Retail Sales - Mfg Survey and Business Inventories

Tuesday: PPI: Producer Price Index - TICS: International In-Out Flows - Industrial production - Housing Market Index

Wednesday:  Housing Starts and CPI: Consumer Price Index

Thursday: US Weekly Jobless claims - Philly Fed - Leading Indicators - Fed Balance Sheet and Money Supply in Late Afternoon

Friday: No Scheduled US News

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International Scheduled News

Sunday: NZD: PPI and JPY: GDP and GBP Home Price Index

Monday: EUR: CPI AUD - RBA Monetary Meeting Minutes

Tuesday: GBP: CPI — EUR Trade Blance

Wednesday: EUR: Current Account — GBP: BoE Minutes — CAD CPI

Thursday: GBP: Retail Sales

Friday: EUR: German PPI

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Live – Weekly Webinars and US GDP report - Click Here to Register

- The “1st on Forex” Week Ahead Mondays at 12 Noon Eastern Click Here

- November 24^th  US GDP Report – Live Coverage Starts 7:30am 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.

Search for Safe Havens - Dollar Again?

Although the US Dollar has been under pressure for the past few months - Is it time for a greenback rebound? The search for safe haven leaves little hiding places. Gold has now settled comfortably above the $1,000 mark and predictions of $1,250 are now being bantered around.

Pound Sterling Technical Analysis - September 19, 2009

The Sterling -Dollar and Sterling Yen are showing some bearish patterns on the Daily charts.

Pound Sterling - US Dollar - Daily Chart September 18, 2009

GBP-USD Daily Chart shows a “Head and Shoulder” pattern nearing completion with potential targets after the Neck Line is Hit. (Click to enlarge)

Pound Yen - Daily Chart - September 18, 2009

GBP-JPY Daily Chart has more room to go down before completeing this pattern - but this daily chart might be viewed as bearish to aggressive traders of the Sterling Yen pair. (Click to enlarge)

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

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

FOMC Announcement - Live Webinar This Wed Sept 23 Click Here to Register

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.

Asian Markets in the Drivers Seat

The FX week began Sunday evening in New York with the China Equity markets selling off. Initially the US Dollar gained ground - but then gave it back over the past few days. China’s equity markets have shed over 4% in the past two days as signs of exports and lack of internal demand are weighing heavily on the low cost producer. Most likely the weak consumer demand is continuing to trickle back to the manufacturing floors around the Asian markets.

S&P Chops Around - FX Markets Go Sideways

The SP 500 and Futures markets have been consolidating during most of the New York sesssions Monday and Tuesday. This has been keeping the FX Sessions quite choppy. The Yen crosses regained some of their strength and are currently poised at around a 50% retracement at mid week.

This week may see more trading volatility again - as we have seen in the past. Last Weeks dismal unemployment numbers ahead of the July 4^th Holiday gave a boost to the US Dollar as money came out of equities and into the safe refuge of the “Holding Tank” of the Currency.

July 6 - 10 2009 - US Calendar

Not much news scheduled until the end of the week.

7-6: Monday - ISM Mfg Index and some Treasury Auctions

7-7: Tuesday - US Treasury Strips

7-8: Wednesday - 10 yr auction and Consumer Credit Report

7-9: Thursday - Weekly Jobless Claims - Wholesale Trade

7-10: Friday - Trade Data - Import-Export Prices - Consumer Sentiment

 July 6 - 10 2009 - International Calendar - Highlights

Interest Rate Announcements from Australia, and the UK, Employment Data from Canada - Stay Tuned

Yen Gains on the Majors

The Yen has made significant gains against the US Dollar, Euro and Pound as Asian stocks were falling as the week gets under way.

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.

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

Canadian Dollar Poised for a Move?

At the end of last year the Canadian Dollar Seemed ready to retake it’s ground.

It appears as if there may be another attempt as the current Daily chart I showing a very strong trend line ready to “Bounce or Break”

Triangles Past and Present - Second Try?

USD-CAD – (above)  Potential for a drop? Chart on the Right is previous Triangle from February that  (click to Enlarge)

Head and Shoulder Pattern Completed on EUR-GBP

The 4 hour charts above on the Euro-Sterling above shows the Head and Shoulder Pattern that “grinded” it’s way slowly to completion – dropping from 0.9150 to 0.8960.  Chart on the Right is the original chart posted on April 3, 2009 when price was initially testing support(click to Enlarge)

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.

Japan’s Complaint Shelved - UN Show Uselessness Again 

Last week’s G20 cooperation fell apart at the United Nations on Sunday as not even a worthless declaration of outrage was made as North Korea brazenly gives the world the one finger salute - with their other finger on “the button”. When will real leadership emerge?

Overgrown Adolescents Playing With Weapons

Can we just put a “Dunce Cap” in these these guys and make them sit in the corner quietly in a comfortable room at Versailles - before we choke on the sand we have our heads buried in… Oh… maybe that’s not sand after all…

Currencies Unfazed to Financial or Military Warfare

Nothing much seems to jolt the market these days - I guess the difference between economic and military warfare is becoming marginalized as Trillions of fiat currency floods the earth - Where’s Noah?

Technical Analysis: Japanese Yen - Gives Ground

Interesting Chart Patterns At Support - Resistance

USD-YEN - Monthly Chart April 5, 2009

Triangle Pattern on MOnthly Chart Above Faces Decision Time as Price Approaches Strong Support - Resistance level of 102 - Meanwhile on the Tewo Hour Chart …

 USD-YEN - Two Hour Chart  April 5, 2009 23:00

 Inverse Head and Shoulder Faces Monthly Resistance at the 102.00 Level

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

Register for The Week Ahead Calendar and Webinar Every Monday at 16:00 GMT  http://www.fxstreet.com/live/sessions/session.aspx?id=7360ecd6-661a-4639-9e44-8fec6c1df8ea

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.

Obama Administration Takes Reins of US Infrastructure

Housing - Insurance - Banking - Automotive Industries all fall under Washington’s control. With eyes on the health care system - education - transportation - and…Don’t Fart - That could be considered as a carbon emission! 

Who wants to be a CEO?

By now most readers have heard that the Obama administration has “ousted” the CEO of General Motors - once the largest and most admired car manufacturer in the world.

G20 Expectations - Set at What Level?

The world has been waiting for what some have coined “April Financial Fools Day” as the International Community will either band together - or split apart.

Protectionism - Protecting Who?

An interesting group of self interests and differing agendas seem to be emerging … As for demonstrations - they are planned throughout London - but who is doing the planning - anywhere?

Sell The Dollar - Buy The ????  - Book

Peter Schiff, author of “Crash Proof” and “The Little Book of Bull Moves in Bear Markets”  gave a lecture this past weekend in Boca Raton at Florida Atlantic University. His predictions of the current crisis have given him quite a following.  During the Q and A session I asked Mr. Schiff what his prediction of what would be the outcome of the G20 meeting. His response was a short and sweet -” It will be a photo op”  - to which I asked a follow up question as to what will be the reaction of people who understand the implications - ” he said ” they will sell the dollar”  - So then what will people buy….. the Q and A shifted to the subject of Gold.

The Week Ahead - Consolidated Economic Calendar

Under “normal” conditions this would be a news worthy week with NFP - unemployment data taking up the weeks speculation - but we all know the numbers will be bad - and the markets have shrugged off bad data lately.

Check out the “1st on Forex” Consolidated Summary of Scheduled News Events for the “Week Ahead”  on the www.ienweb.com site.

USD-JPY 4 Hour Chart - Inverse Head and Shoulder Setting Up?

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.

AIG -  Diversionary Tactic?

I find it interesting that the general public is up in arms about a measly $100 Million in AIG bonuses - yet practically oblivious to the extra $1.2 Trillion dollars that the Fed has authorized. They have created the “Ouroboros” snake to print the money to swallow the US Treasuries.  

 US Constitution, Capitalism and Confidence

So much is happening so fast that the US Congress is passing 1,000 + page spending bills without reading it - at the request of the new president - Really….

 Claw Back is what everyone is seeking - to just get back to break even, to that point before Bear Stearns was slaughtered, but at what cost?

 If the rules are going to be changed in the middle of the game - constantly - eventually people will not play - then where will we be?

 Breaking contracts and taxing individuals at 90% retroactive is worse than a dangerous precedent - it borders on treason - based on the fact that elected officials are not holding up their oath to support and defend the constitution of the United States - and may be recklessly destroying the foundations of the country.

 Quantitative Easing Spreads - As Currency Wars Get Underway

I was broadcasting live coverage of the The US Federal Reserve on Wednesday when I nearly fell out of my chair to short the dollar. The video of the live broadcast is available on the www.Investors-Education-Network.com site.

Although I discussed the possibility of Quantitative Easing, I assumed that Bernanke would wait at least until after the G20 meeting to pump another Trillion dollars into the economy.

 If all the central banks follow suite - they will effectively be filling the pool with more paper.

 Budget - Unsustainable?

On Friday the Congressional Budget Office told the Obama administration that the current level of debt, budget, and spending is “Unsustainable”. The administrations press secretary dismissed the warning with a analogy of trying to pick the basketball playoffs five years out.

 From where I sit -  that’s the problem… I believe that too many people,  that should know better, are treating this as if it was just a game… Well - maybe it is…

  Reservations on Reserve Currency?

The US Dollar suffered it’s worst week since 1985, and the Euro staged it’s best ever gain since it’s 1999 inception. Gold surged on the Quantitative Easing surprise, and some analysts expect Gold to retest the $1,000 mark. Is this the end of the Greenback?

 Signs Earlier in the Week?

The currencies showed no reaction to fundamental surprises on Monday and Tuesday.

 TICS Data - Amazingly Horrible - Setup for FOMC?

The Treasury Inflows were astoundingly weak with a negative $43 Billion versus expectations of a positive $44 Billion. Was this a factor in the QE decision?

 New Housing Starts??  - Signaling a Real Estate Bottom?

New construction unexpectedly jumped  up 22% versus an expected negative -3.4%. Where and who is building houses?

 The glut of unsold property has not disappeared, so who and how are new housing starts getting underway? Are the government accountants beginning to start counting the boxes under the bridges? Let’s wait for the revisions next month. Let’s see what the revisions look like next month!

 The Week Ahead - Lot’s of Scheduled News and High Level Meetings

Break out your popcorn and settle in your favorite seat as Ben Bernanke and Tim Geithner will be testifying on financial regulation reform before House Financial Services Committee in Washington

 Meanwhile Back at the Bank - FDIC

Market News International on Friday reported that Sheil Bair - Chairman of the FDIC stated that…. Although the FDIC deposit insurance funds is heading to zero, she’s confident it will be replenished. as the long term outlook for insured banks is “very good”

 This as Ben Bernanke on Friday addressed the Community Banks and reassured them that opportunities are available and that they need to continue lending. As for “too big to fail”, Bernanke indicated oversight is needed - which drew large applause. Bernanke said the Fed will support housing market and FDIC for now, but will taper off and withdraw.

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

Register for The Week Ahead Calendar and Webinar Every Monday at 16:00 GMT - Click Here

and Live Webinar Coverage of  the US GDP Report  Click here to Register and Tune in Thursday March 26 at 7:30 Eastern US time (11:30 GMT)  

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.

Lots of Scheduled News on the Calendar

Interest Rates Around the Globe Expected To Drop

Australia, Canada, The UK, and the Euro Zone are scheduled and expected to lower interest rates this week. The question is, are the moves already baked into the charts?

Non-Farm Payroll - Unemployment Data Due Friday

Employment data may come in at historically horrendous levels. Wednesday data from ADP and Challenger, and Thursday from Monster.com will lead up to Friday’s Non-Farm Payroll report. Wrapping up the week is the US consumer credit report at 15:00 Friday.

European Union? No Help for Eastern Europe. The Euro continues to slide against the US Dollar as witnessed by the chart below. Note the post from Febrauary 27th.

EUR-USD - 60 Min chart - Beautiful Triangle Pattern continues to play out.

Summarized Economic Calendar and Weekly Webinar

To see my filtered and concise list of selected scheduled news events I am following and to register for The Week Ahead Calendar and 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.

 By Jerry Furst- Sr. Analyst “1st on Forex” www.Investors-Education-Network.com

 The Bizarre Gets More Momentum

- Are you no longer impressed with Jaw Dropping Jobless Claims?

- Tired of Hearing about Housing and Mortgage Issues?

-  Not Interested in Nationalization of Banks Around the Globe?

-  Do you find Zero Percent Interest Rates - UN Interesting?

-  When 1,000 pages of legislation with Trillions of Dollars for ”Couch Warming”….. I mean “Stimulus Initiatives” becomes so boring that the largest spending bill in the history of mankind gets passed without even being read and “Cram Down” becomes part of everyday business jargon….Well Inquiring minds might like to know who’s been cheating on their taxes in Swiss Bank Accounts…

 The New Transparency - Hiding of Assets Overseas Comes to and End?

As the Global Financial Markets Continue with the Negative Feedback Loop. - We needed more signs that things are changing - Now the Rich and Famous may be getting nervous as Swiss Bank Giant UBS has come to an agreement to disclose clients in the United States that opened bogus business entities to avoid paying US Taxes.   

Slap on the Wrist for UBS ?

Word of an agreement between UBS and the IRS came quickly Wednesday, with a mere $780 million dollar fine. Come on guys, not even a couple of Billion? These days a few hundred million is government chump change.

Just an Honest Mistake? - Who’s Really on the UBS List?

According to the Associated Press, Devlin Barrett’s article goes on to state that the IRS is calling on tax cheats to turn themselves in. My question is will they make the entire list public, and what about all the other tax cheats, like the Treasury Secretary - Perhaps Tim has an account over there?  I guess all they will need to do is say they made and honest mistake.

Euro Head and Shoulder - Trend Line Break In Play

EUR-USD Daily Chart  - (Click Chart to Enlarge)

Last Week I pointed out this Head and Shoulder pattern on the Euro that was poised to break the neckline. I received comments that his was not a Head and Shoulders, to which I reply - It’s a strong Support Line no matter what you say… And it is now broken. Where it goes from here, Who knows - the fundamentalists will point the blame on Eastern European Banks, or some other scapegoat if it continues down… If the Euro strengthens, It won’t be because of Trichet.

Pound Sterling Consolidating against the Dollar

GBP-USD  4 Hour Chart  - (Click Chart to Enlarge)

The Pound is Poised for something as this chart shows it has gone sideways

long enough.

Tune in to Monday’s Free Webinar - Click Here to Register

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.