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UPDATE: Mastermind Mentoring Program registration is over. I’d like to thank everyone for your support and patience during the past 2 weeks. Now I am going to go back and concentrate on trading exclusively. I with you all a great trading week.
Here is the first part of my weekly outlook which I think will help you in your trading decision this week, as the market may be in risk aversion mode….
… Taken from my Weekly Outlook Report February 22~26, 2010… After this analysis we saw perfect SELL entries on both EUR/USD close to 1.3700 and GBP/USD 1.5580 area… If you had a chance to read this report before the drop, you’d have been on the right side of the market.
Written on 02/21/2010 just before the risk aversion sentiment on Monday/Tuesday
Hello everyone:
Another seemingly quiet week has gone by but the market has not failed to surprise us yet again… The biggest news last week was not the rate decisions nor the lack of high-impact trend changing news releases, but the apparent endless strength of the Japanese Yen under the new ruling party, which managed to push the USD/JPY close to the 90.00 handle, approaching that yearly low level of 87.00…
Last week’s major news was the FOMC rate decision and the accompanied statement, while no one expected any changes in the current Interest rate, most were expecting some kind of optimistic follow-up from the Fed on back of that better than expected NFP releases last Friday. However, we got the usual rhetoric with a possible extension of the treasury purchases to the end of October instead of the previous end of September announcement.
The main event last week was undoubtedly the Nonfarm Payroll changes, which not only went against the ADP release on Wednesday, but it was a landslide surprise that changed the predominant USD trend yet again.
If you remember the effect on the NFP report back in June and the market reaction in the subsequent week that follows, you’d see a likely pattern emerging, and that pattern is clearly going to be USD strength.
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