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2011 September

September 30th, 2011 @ 6:48 pm by Michael Radkay

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BY <a href=”http://www.rdstrader.com”>MICHAEL RADKAY</a>

Is it me or is this sign an oxymoron? A job is right, but isn’t a job the direct result of capitalism? Both company and employee seek a profit and the money earned is used to buy the things that all parties want and need. I do understand the motivation behind the sign as it seems our capitalist society is in need of an overhaul these days. I still believe capitalism works but it takes two to tango and both sides need to open the doors again. Banks need to start lending that “gift money” (sorry – quantitative easing aid) and businesses and employees need to follow through on their commitments.
<div style=”float: right;”><img src=”http://www.rdstrader.com/capitalism.jpg”></div>
I don’t blame the protesters for their anger at the system because obviously they are looking for a job and it seems that things these days are weighted too heavily in favor of the banks. The act of gathering peacefully while bringing a solid clear and precise message however is also a great bi-product of our way of life. The money earned in a capitalist structure has afforded us to build a country that can protect and base itself on freedom.

At least it seems in this case that citizens can demonstrate peacefully for the most part and I hope Washington is hearing the shouts and footsteps as they need to show leadership for the betterment of all involved, not just a select few. Using your freedom to protest and freedom of speech is our right and I am a firm believer that if you have something to say, “say it”, if you have something to shout; “shout it” and if you have something to do; “do it”. My  problem with this photo is that at this moment the writers of this sign are nowhere to be found in this picture? This sign needs a live face all of the time; not just part-time, otherwise it has the same effect as a text message or a resume placed on a stack of others without introducing yourself to the person collecting them and offering the job.

I have given some thought to a solution for the sign maker.  First of all you have skills. You don’t need to occupy wall street; you need to occupy your mind and use the energy you applied to this sign and this protest and focus it on how to best utilize your abilities to land the job you seek. As an educator and motivator I try and help students fulfill their goals and my message to my students is not much different to you. I just become the facilitator to help you see your skills and place you in an area that suits you best. You have the ability to create a buzz and companies love that! With your protest you received free media coverage from all of the major networks and social media outlets; brilliant!! You also have the ability to make signs and slogans to deliver a message. But this picture just looks to me like somebody who got tired of standing in the rain and placed the sign on the ground in hopes that somebody would still get the message and solve your problem. You are never going to get a job that way.

You just are in need of a few follow through skills. Since you have a knack to create a buzz and can make signs and write slogans, I have provided you with a list of sign making companies in the lower Manhattan area (since you are there) that just may want to hire you. Just make sure you are present this time, when the photo shoot comes calling your name. Also; never, never forget to leave a contact number or email on your sign so the company can get in touch, when they hire you.  I’m still bullish the U.S.!!

Here are a list of sign making companies:

A A Awning & Sign
Tel: 212 226 9828171 Bowery
New York NY 10002

Artshne Sign and Supply
Tel: 212 965 818496 Allen Street
New York NY 10002

Chung Wah Sign & Store Inc
Tel: 212 995 795666 Delancey Street
New York NY 10002

Concept Sign Incorporated
Tel: 212 966 108137 Allen Street
New York NY 10002

FedEx Office Print & Ship Center
Tel: 212 228 951121 Astor Place
New York NY 10003

FedEx Office Ship Center
Tel: 212 614 8915125 5th Avenue
New York NY 10003

FedEx World Service Center
Tel: 800 463 333920 E 20th St Grd Fl
New York NY 10003

Fortune Line Trading
Tel: 212 334 826525 Essex Street
New York NY 10002

Gilbey Graphics & Di
Tel: 212 608 4131900 Broadway
New York NY 10003

Hong Qi Sign Corp
Tel: 212 966 318895 Allen Street 1
New York NY 10002

Always Neon Inc
Tel: 212 388 987666 Delancey Street
New York NY 10002

Bowery Sign Production & Supply Inc
Tel: 212 995 1395187 Bowery
New York NY 10002

Concept Sign Inc
Tel: 212 966 108184 Hester Street
New York NY 10002

Creative Signs and Awnings
Tel: 212 625 172655 Delancey Street 1
New York NY 10002

FedEx Office Print & Ship Center
Tel: 212 253 9020250 E Houston Street
New York NY 10002

FedEx Office Ship Center
Tel: 212 353 38604 Union Square E
New York NY 10003

First Signs Co
Tel: 212 966 069071 Eldridge Street
New York NY 10002

Fu Sunsign Construction Co
Tel: 212 941 952074 Canal Street
New York NY 10002

Hester Signs Inc
Tel: 212 625 928923 Orchard Street
New York NY 10002

Hong Qi Sign Corporation
Tel: 212 966 3188101 Allen Street
New York NY 10002

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September 30th, 2011 @ 5:59 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD made another upside attempt yesterday slipped above 1.3650 but again, couldn’t maintain the bullish momentum and now testing 1.3520 support area. As you can see on the red box area on my hourly chart below price has been moving sideways between 1.3650 – 1.3520 in the last three days. The bias remains neutral in nearest term. We need a clear break from the range area to see clearer intraday direction. Although my short term technical bias shows a bearish pressure, actually the breakout above the range has more significant impact to broader outlook as a clear break above 1.3650/80 and consistent movement above the falling wedge could trigger further significant bullish correction while on the other hand a break below the range doesn’t automatically cancel the falling wedge bullish pullback warning. A clear break below 1.3520 could trigger further bearish intraday pressure testing 1.3480 even 1.3400 area. Inconsistent momentum, unclear intraday direction and potential difficult Friday trading are more than enough to keep me out from the market for now.

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September 30th, 2011 @ 5:54 am by Setyo Wibowo

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EURJPY Forecast
The EURJPY attempted to push higher yesterday after break above the bullish flag as you can see on my hourly chart below, topped at 104.91 but traded lower earlier today in Asian session hit 103.56. The bias is neutral in nearest term with potential daily range to be closely watch between 104.95 – 103.30. My major bearish technical outlook remains intact but unless price breaks below 102.20 we are still in a bullish correction phase. A clear break below 103.30 could trigger further bearish pressure testing 102.20 while on the other hand a clear break above 104.95 could continue the bullish correction scenario testing 106.57.

GBPJPY  Forecast
The GBPJPY attempted to push higher yesterday, slipped above 120.65 but closed lower at 119.75 and hit 119.27 earlier today in Asian session. On my hourly chart below we can see price is now retesting the lower line of the bullish channel. A clear break below the bullish channel could trigger further bearish pressure testing 118.80/35 area which could end the current bullish correction phase. Immediate resistance is seen around 119.77 (current high). A failure to make a clear break below the bullish channel and a clear break back above 119.77 area would keep the bullish correction phase strong retesting 120.65 even higher.

AUDUSD Forecast
The AUDUSD attempted to push higher yesterday, topped at 0.9877 but closed lower at 0.9773. The bias is neutral in nearest term. On my h4 chart below we can see price has been trapped in range area of 0.9975 – 0.9700 in the last three days. A wide range of almost 300 pips but we have to wait for a clear break from the range area to see clearer direction. Immediate resistance is seen around 0.9810. A clear break back above that area could trigger further bullish pressure testing 0.9877 – 0.9900. On the downside, a clear break and daily close below 0.9700 could continue the major bearish reversal outlook since the fall from the all time high, testing 0.9400 area.

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September 30th, 2011 @ 5:49 am by Setyo Wibowo

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GBPUSD  Forecast
The GBPUSD attempted to push higher yesterday, topped at 1.5714 but further bullish pressure was rejected, closed lower at 1.5608 and hit 1.5582 earlier today in Asian session. On my h4 chart below we can see price has been moving sideways in the last three days without consistent direction and momentum. The bias is neutral in nearest term. The triple bottom bullish pullback scenario remains intact but need a clear break above 1.5750 to continue the bullish correction scenario. Immediate support is seen around 1.5540. A clear break below that area could trigger further bearish pressure testing 1.5490. A clear break below 1.5490 could be a serious threat to the triple bottom bullish scenario which potentially end the current bullish correction phase.

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September 30th, 2011 @ 5:44 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY didn’t make significant movement yesterday. Not only price has been trapped in range area of 77.80 – 76.21 for almost seven weeks now, but we haven’t seen a single convincing momentum/direction this week, and we probably will see another Doji on weekly chart. Aggressive intraday traders can still take advantage of the current sideways movement by long around 76.21 with a tight stop loss.

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September 30th, 2011 @ 5:40 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF didn’t make significant movement yesterday. On my hourly chart below we can see price has been moving sideways up and down about 100 pips in the last three days between 0.9020 – 0.8915. The bias remains neutral in nearest term and needs a clear break from the range area to see clearer intraday direction. A clear break above 0.9020 and the minor trend line resistance (white) could trigger further bullish pressure testing 0.9080 – 0.9100 area. On the other hand, a clear break below 0.8915 could trigger further bearish correction testing 0.8850. My major technical bias remains to the upside and any downside movement now should be seen as a corrective movement.

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September 30th, 2011 @ 2:24 am by Mark De La Paz

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The wait for Germany’s vote on the EFSF turn out to be much a do about nothing, ahead of the release markets priced in a yes vote with the dollar pulling back as risk appetite set in. Following the release we saw a limited ‘buy the rumor, sell the fact’ response from the market though with US futures suggesting a strong open we managed to see a retest of the earlier highs before markets finally gave up much of its gains inmidday New York trade. Of interest among yesterdays announcements was an SNB statement that they wouyld be shifting foreign holdings into the British pound for the coming year, another way of looking at this is ‘we just dont think its a good idea to have a trillion Euro’s in reserves’, while we have no official figures yet it is not unlikely for the Swiss to have built up so much reserves given the way they have put a floor to EURCHF.  Over the next few minutes we will be seeing HSBC’s Manufacturing PMI numbers with a read below 48 likely suggesting that official data, curiously moved to tomorrow instead of today’s supposed release, could come in contraction territory. A nice excuse for dumping commodity currencies.

NZDUSD
Res: 0.7722/0.7780/0.7833
Sup: 0.7635/0.7544/0.7500
We continue our rejection from the pullback to the weekly head and shoulder neckline, with Thursday seeing a long wick and a small black body for the daily candle. From indicators we have a confluence of bears, daily stochastic poised to push to oversold levels while macd is dropping. Note our immediate support is a strong one. In the lower time frames we have a confluence of bears from the 4H picture with candles also dominated by black bodies. Hourly charts for their part has macd dropping though stochastic is at risk of pushing higher and we have a double bottom from price action. At this point we prefer allowing for a technical bounce and taking the sell-side from just under 0.7780.

USDCAD
Res: 1.0380/1.0428/1.0487
Sup: 1.0325/1.0260/1.0205
We have USDCAD closing right around the strong resistance at 1.0380 with the daily candle showing a long tail and a small body. From indicators we have stochastic reentering overbought territory, macd is pointing higher while daily EMA lines are also heading up. From the lower time frames we have a spinning in the previous 4H candle while macd is bullish and stochastic poised at a bear cross. Hourly indicators for their part has mixed signals with stochastic heading up and macd topping off. Despite the bullish looking daily charts we see little sense of urgency from the intraday picture as such we prefer to see a pullback before jumping long again. Consider buys only after a pullback from at least 1.0325.

AUDUSD
Res: 0.9811/0.9878/0.9929
Sup: 0.9752/0.9701/0.9669
After rally from the open in Asian trade we saw AUDUSD giving up much of its gains in New York for a long wick in the daily candle to see indicators develop a confluence of bears. At this point we have stochastic crossing lower to match the bearish view of the daily macd. Intraday we are seeing mixed signals from the 4H candles with long wicks and long tails to underscore our whippy market. Indicators wise we have stochastic in 4H charts heading lower while macd is flat. From the hourly level we have mixed signals stochastic crossing lower while macd is poised to push up. For now we are seeing mixed markets given the huge swings in our whipsaw we prefer taking things from the extremes, consider buys from at least above 0.9669 ideally above 0.9624, or shorts from under 0.9878 ideally 0.9929.

EURUSD
Res: 1.3599/1.3655/1.3689
Sup: 1.3551/1.3519/1.3483
With our sharp pullback from yesterdays highs we are now seeing a bearish fractal in the daily charts with candles showing long wicks. We also have the daily EMA’s just atop our highs while indicators show stochastic at risk of crossing lower and macd with its own bullish crossover. In the lower time frames we appear to have bear candles overwhelming bulls with a series of bearish engulfing patterns from the 4H level while macd is poised to cross lower and stochastic already headed down. Hourly charts see a confluence of bears. Immediate risk is for further losses in Euro, look for shorts from just under 1.3599 for a sell-off to 1.3519, a break of 1.3551 may also be seen as a bearish entry though price target will still be limited to 1.3519.

GBPUSD
Res: 1.5631/1.5712/1.5754
Sup: 1.5580/1.5542/1.5500
After rallying from the Asian open to European trade we saw GBPUSD closing the day with a long wick getting a rejection from the 21D EMA. Daily indicators look mixed stochastic just crossing lower while macd is still pointing up. Note we are seeing long wicks or big black bodies in our daily candles. In the lower time frames we have a confluence of bears from 4H macd and stochastic though candles suggests a lack of momentum. From the hourly level we have mixed signals while prices see a double bottom its break out point at 1.5627. Look for a close above 1.5631 to spark push for yesterdays highs though limit expectations for any trade to below the 1.5700 level.

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September 29th, 2011 @ 5:01 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD attempted to push higher yesterday, slipped above 1.3650 and the falling wedge, topped at 1.3689 but whipsawed to the downside, closed at 1.3522. Price bounced higher earlier today in Asian session hit 1.3612. The bias is neutral in nearest term. Price has been moving sideways since Tuesday between 1.3650 – 1.3480. My major bearish technical outlook remains intact since the fall from 1.4939 and strong bearish momentum from 1.4530 but any consistent movement above the wedge and daily close above 1.3650 could signal further bullish pullback testing 1.3800 – 1.3900 area. On the downside, a clear break below 1.3480 could trigger further bearish pressure testing 1.3400.

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