Knowledge is Power

Quoting Warren Forex

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I will copy and paste it here since it also relates to the Forex markets.

Have A Great Sunday !!!


http://www.forexfactory.com/images/icons/icon14.gif I Sincerely Doubt That !!!
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Originally Posted by salah k. http://www.forexfactory.com/images/buttons/viewpost.gif
hey man
from ur charts

and technically speaking(not fundamentaly) looks like dollar index found some strong resistance and might be heading towards 80ish area.

any thoughts on that????

Anything is possible however there is many fundamental reasons why the odds are not very in favor of that. Here are my reasons.

The main reason that the US Dollar got stronger last week was mainly by the actions (Verbal) of some of the FED members. The markets bought it hook, line and sinker. The yields on the 2 Year USA bonds and the 10 Year USA bonds went through the roof. The FED discount rate is now at 2.00% down from 5.25% and that is the Main Reason the US Dollar became much weaker and Gold and Oil went up in price.

The worst enemy of the FED and the World FIAT system is GOLD. They always try to suppress it and in the end they always fail. Who are they ?

(1) Roman Empire
(2) British Empire
(3) US Empire (Spelled 1913 and the FED) The Bankers !!!

Gold and Silver are and always have been the supreme store of wealth because it cannot be printed and is in short supply and it takes about 7 years to bring new sources to market.

Since the FED for the moment CANNOT raise rates they try to convince the markets they might and PERCEPTION sometimes is STRONGER than reality.

Why will they not raise for the moment ? Moment is at least 6 months in my learned opinion. They will cause the collapse of the US economy and actually cause the collapse of the last bubble !!!

The last bubble of the last 10 years is the US Stock Market.

That will lead to the unwinding of the YEN carry trade of perhaps over One Trillion Dollars. Add to this equation the continuing collapse of the US housing market (See The Recent Case Schiller House Index) and the still to come One Trillion Dollar losses in the World Banking System. This comment comes from the IMF not exactly a friend of Gold or Silver.

So if the FED cannot raise what do they do ? Not a thing or perhaps even cut ? The next 3 months will be telling. Factor in the November Presidential elections and expect much FUN and Games !!!

This Week is ISM and ADP and NFP !!! A Very interesting week to say the least.

The US Dollar Index would need to go up at least 2 more full basis points for me to change my thinking. The odds are good that we will soon see a retest of the lows. Look at the comments by Dan Norcinni on the US Dollar Index Charts at: WWW.JSMINESET.COM

Charts:

http://www.jsmineset.com/cwsimages/M..._5-30-2008.pdf

I hope I have given you some insight and answered your questions.


Bruce

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Quoting Warren Forex

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http://www.actionforex.com/action-in...2008060147841/


Four central banks are scheduled to meet this week, including ECB, BoE, RBA and RBNZ. All are expected to leave rates unchanged. Though, markets will pay special attention to RBA's statement on hints of further rate hike, as well as ECB press conference as usual. A number of important economic data will also be released from the US, including ISM Indices and Non-Farm Payroll which are closely watched for sign that the worst in the US economy is over and solidify the Fed hike speculations.
Inflation data from US saw both headline and core PCE unchanged at 3.2% yoy and 2.1% yoy respectively. Personal income rose 0.2% versus consensus of 0.1%. New Home sales posted a surprise 3.3% gain in Apr from downwardly revised 509k to 526k. S&P/Case-Shiller Composite-20 house price index dropped -14.4% yoy in Mar, biggest fall on record. Durable goods orders dropped for the fourth consecutive months in Apr by -0.5% but was above expectation of -1.5%. More importantly, ex-transport orders unexpectedly rose strongly by 2.5%, comparing to expectation of -0.5%.Conference Board Consumer Confidence dropped more than expected from revised 62.8 to 57.2 in May, the lowest reading in more than 15 years since 1992. Preliminary Q1 GDP results revised up to 0.9% annualized growth, inline with expectation. GDP price index was unchanged at 2.6% while personal consumption is unchanged at 1.0%. Though, PCE core was revised down to 2.1% qoq. Jobless claim is slightly above expectation at 372k.


Bruce

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Quoting TEB63

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Attachment

Teb:d

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Quoting Warren Forex

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FROM USD/JPY THREAD

Why don't you open a Demo Account with FXCM which we can both follow the results on along with other posters here on Forex Factory. That way you could open up trades, each trade of 100K is managed on the Demo platform individually so you can put your stop and limit out while you are not around it is managed. You never trade more than 10 positions of 100K at anyone time. You use ALL your technical skills and I will help you with good level entries on various trade plans we both agree on. We can focus on three FX currency pairs. USD/JPY, EUR/USD and USD/CAD and perhaps GBP/USD.

We can implement Risk management and Event Management based on leverage used and forth coming important news events as to data releases.

While we do this you can post your Demo results twice a month and others can watch or follow along if they want also using Demo accounts to practise or not. Their choice. You will help me some by your giving me better insight into the various support and resistance levels on the traded FX currency pairs.

That is my suggestion to make it WIN WIN and learn and have some FUN at the same time. We could do our postings on "Knowledge Is Power" thread as other FX currencies other than USD/JPY may be traded Demo and or Real Funds.

Bruce

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Quoting Warren Forex

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The HIGH overnight in the USD/JPY currency pair was 105.55 !

With the Europe markets down USD/JPY broke support at 105.00 and now trades at 104.75 Bid. One factor that helped move it down was the drop of EUR/JPY which went from a HIGH of 164.232 to it's present 162.59 with 162.56 being the LOW.

Next BIG news is ISM in 15 minutes or so. Dow Futures down 63 at the moment. Stay Tuned. Some New Charts would be helpful. I think Monthly Support is at 104.60 and 104.50 is a Round Number Support.

Bruce

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Quoting Warren Forex

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Some New Charts would be helpful.

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Quoting Warren Forex

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http://quotes.ino.com/chart/?s=NYBOT_DX&v=s

Look at the bottom at 5:00 AM and the bounce back since then. USD/JPY now at a critical Pivot support at 104.60

EUR/JPY now at 162.30 Bid ... EUR/USD weak at 155.09 Bid

Bruce

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Quoting cvarnado

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DOW doesn't like the data?

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