Wednesday, September 28, 2011
We began this week's webinar by discussing the fundamental reasons behind the week's relief rally in the EUR/USD pair . All 17 nations within The European Union, were scheduled to vote on whether to expand the EFSF or keep it at its preexisting level. Ironically, some traders considered this to be good news for the market. Many investors were already pricing in the expectation of a leveraging of the EFSF bailout fund and also some type of plan or route for Greece & the growing debt concerns in the Eurozone.
We also discuss why many analysts believe that we will continue to see the Euro weaken throughout the rest of the year to 1.25 or 1.29 levels. This is done using the A-B-C-D Wave principle.
Thursday, August 25, 2011
During the first half of this webinar, we discussed the fundamental outlook for the EUR/USD pair prior to Bernanke's announcement following the 2 day Jackson Hole Symposium meeting. For most of the week, we were in a consolidation zone between 1.4500 and 1.4400 as the market waited to hear what the Fed chairman would reveal about the current state of the global economy and whether he will issue a third round of quantitative easing (QE3). There was a strong break of the 1.4400 major support level due to a rumor that Germany was at risk of having their credit rating lowered and there would be an additional ban on short selling for financials in the Eurozone. Although both of these rumors were not true, risk aversion was definitely the tone of the day due to more troubling news coming out of Greece and, as a result, we saw the greenback strengthened during the London & New York Trading Sessions.
In this webinar, we also discussed the role of the 200-period Simple Moving Average and it's role in identifying trend direction or overall market sentiment.