Market Summary with Mike Seery - U.S. Dollar and 10 Year Notes Futures

The U.S dollar is trading far above its 20 and 100 day moving average telling you that the trend is higher and if you took the original recommendation back when the breakout occurred on July 25th at 81.20 continue to place your stop at the 10 day low which currently stands at 84.00 as there has not been a 2 week low since late July and that just shows you how strong this market has been to the upside as the dollar is being seen as a flight to quality as there are so many problems in Europe currently as money is flowing back into the U.S dollar.

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The Euro currency continues to slide along with the Japanese yen as the U.S dollar hit a 2 year high and I do think prices are headed higher as the chart structure will improve dramatically next week so continue to play this to the upside and if you’re lucky enough take advantage of prices dip making sure you place the proper stop loss but the trend clearly is higher as the question remains how low will the Euro currency go.
TREND: HIGHER
CHART STRUCTURE: IMPROVING

10 Year Note Futures

The 10 year note has rallied this week due to all of the problems geopolitically speaking pushing prices to a 2 week high as I was recommending a short position when prices hit a 4 week low getting stopped out in yesterday’s trade as the yield has hit 2.52% so currently I’m sitting on the sidelines waiting for another trend to develop. This trade was a small loser as prices grinded higher over the last couple of days to sit on the sidelines and wait for another trend to develop as I still do believe interest rates are headed higher in this country but with worldwide problems and interest rates at all-time lows in Europe this trade will take patience and time to develop.

The GDP report stated that the economy grew at 4.6% which is very solid and that’s putting pressure on the 10 year note this Friday afternoon, however as a trader you must have an exit strategy and my exit strategy is when I’m short and the market hits the 10 day high it’s time to move on so I’m out of this trade but I do think that there will be another opportunity relatively soon. TREND: NEUTRAL CHART STRUCTURE: IMPROVING

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Sneaky 5 Part Options Formula Taught on Video

Are you excited about Bill Poulos's new Options Income Engine software that's being released next Monday like I am?

You can definitely feel the excitement online......

Bill just posted a "video answer" to one of his blog questions where he reveals his 5-part formula that tells you exactly how many options contracts to trade.



This is how the pros do it.

Go here to try it out...

Good Trading,
Forex Market Club

P.S.  Rumor has it that Bill will be giving away a LIFETIME MEMBERSHIP to his options software this weekend, so keep an eye on your email and on his website for more info...

Options Results + BIG NEWS [Video 3]

Video 3 of the Options Income Engine training was just published.

See it Here...

Here's what you'll learn in this video:

• A live options trade Bill Poulos placed with his broker using the Options Income Engine trade alert software, so you can get a feel for how easy this is...
  
  
• An equity curve going back 20+ years so you can get a sense of how this program will work in "real life". He shows you everything - "warts & all".
  

I think you'll learn some very important lessons about real world trading after you see how candid Bill is in this video.
ALSO...

• Bill is going to open up enrollment for his Options Income Engine software this Monday, September 15th, at 1pm Eastern.

(But it will be a very tight, limited enrollment.)

Watch Video #3 for more information on how to try it out...

Good Trading,
Forex Market Club

P.S. If you have any questions, make sure you post them underneath the video on the training website. There are now over 300 combined comments and counting.

Everybody is really excited about this......

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Forex Market Club

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Mid Week Currency Market Summary for Wednesday Sept 10th

The December Dollar posted an inside day with a lower close on Wednesday as it consolidates some of this summer's rally. The mid-range close sets the stage for a steady opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near term. If December extends the rally off May's low, weekly resistance crossing at 84.96 is the next upside target. Closes below the 20 day moving average crossing at 82.83 would confirm that a short term top has been posted. First resistance is Tuesday's high crossing at 84.65. Second resistance is weekly resistance crossing at 84.96. First support is the 10 day moving average crossing at 83.52. Second support is the 20 day moving average crossing at 82.83.

The December Euro closed slightly lower on Wednesday. The mid range close sets the stage for a steady opening when Thursday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If December extends this summer's decline, the July 2013 low crossing at 128.50 is the next downside target. Closes above the 20 day moving average crossing at 131.78 are needed to confirm that a low has been posted. First resistance is the 10 day moving average crossing at 130.52. Second resistance is the 20 day moving average crossing at 131.78. First support is Tuesday's low crossing at 128.71. Second support is the July 2013 low crossing at 128.50.

How to Determine the Safe Levels to Take Weekly Options Trades

The December British Pound closed sharply higher on Wednesday as it consolidated some of the decline off July's high. The high range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If December extends the decline off July's high, the 50% retracement level of the 2013-2014 rally crossing at 1.6007 is the next downside target. Closes above Monday's gap crossing at 1.6273 would confirm that a low has been posted. First resistance is Monday's gap crossing at 1.6273. Second resistance is the 10 day moving average crossing at 1.6359. First support is today's low crossing at 1.6039. Second support is the 50% retracement level of the 2013-2014 rally crossing at 1.6007.

The December Swiss Franc closed lower on Wednesday as it extends the decline off March's high. The low range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If December extends the decline off July's high, the 87% retracement level of the 2013-2014 rally crossing at 1.0518 is the next downside target. Closes above the 20-day moving average crossing at 1.0907 would confirm that a low has been posted. First resistance is the 10 day moving average crossing at 1.0818. Second resistance is the 20 day moving average crossing at 1.0907. First support is the 75% retracement level of the 2013-2014 rally crossing at 1.0653. Second support is the 87% retracement level of the 2013-2014 rally crossing at 1.0518.

The December Canadian Dollar closed higher due to short covering on Wednesday. The high range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near term. Closes below the reaction low crossing at 90.70 would confirm that a top has been posted while opening the door for additional weakness near term. Closes above the 10 day moving average crossing at 91.49 would temper the near term bearish outlook. First resistance is the 10 day moving average crossing at 91.49. Second resistance is the reaction high crossing at 92.26. First support is the 62% retracement level of the March-July rally crossing at 90.40. Second support is the 75% retracement level of the March-July rally crossing at 89.67.

The December Japanese Yen closed lower on Wednesday as it extends this summer's decline. Today's low range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If December extends the decline off June's high, weekly support crossing at .9013 is the next downside target. Closes above the 20 day moving average crossing at .9610 would confirm that a short term low has been posted. First resistance is the 10 day moving average crossing at .9524. Second resistance is the 20 day moving average crossing at .9610. First support is today's low crossing at .9365. Second support is weekly support crossing at .9013.

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Free Webinar: How to Beat the Market Makers Using Weekly Options

You’ve downloaded his free eBook and you have watched the video. Our trading partner John Carter is now going to make this perfectly clear with another one of his wildly popular free webinars, “How to Beat the Market Makers using Weekly Options”, this Tuesday September 9th at 8 p.m. EST

Click Here to get your reserved spot, they go fast!

In this free webinar John Carter will discuss…..

  *   How to determine the safe levels to take weekly options trades

  *   The best way to protect yourself and minimize risk while increasing the probability of maximum reward

  *   How to choose the right stocks for weekly options and which stocks you want to avoid like the plague

  *   A simple and powerful strategy that you can use whether you’re a beginner or advanced options trader

  *   How to consistently trade this current market using weekly options

And much more…

Sign Up for the Webinar Here

We’ll see you on Tuesday evening!

Ray @ The Forex Market Club

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What Market Makers Don't Want You to Know (video)

In this free video John shares......

  *   Why your trading goal is not to be right

  *   Why Wall Street is designed to suck traders into doing the wrong thing

  *   Whether or not account size matters when trading weekly options

  *   What Market Makers don’t want you to know that I’ll show you in this free video

  *   What trading instruments you should use to trade weekly options

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Currency Market Summary for week ending Sept. 5th

The December Dollar closed lower due to profit taking on Friday as it consolidated some of the rally off May's low. The mid range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near term. If December extends the rally off May's low, weekly resistance crossing at 84.96 is the next upside target. Closes below the 20 day moving average crossing at 82.41 would confirm that a short term top has been posted. First resistance is today's high crossing at 84.08. Second resistance is weekly resistance crossing at 84.96. First support is the 10-day moving average crossing at 82.99. Second support is the 20 day moving average crossing at 82.41.

What Market Makers Don't Want YOU to Know (Free video)

The December Euro closed higher due to short covering on Friday as it consolidated some of Thursday's decline. The mid range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If December extends this summer's decline, the July 2013 low crossing at 128.50 is the next downside target. Closes above the 20 day moving average crossing at 132.48 are needed to confirm that a low has been posted. First resistance is the 10 day moving average crossing at 131.37. Second resistance is the 20 day moving average crossing at 132.48. First support is Thursday's low crossing at 129.32. Second support is the July 2013 low crossing at 128.50.

The December British Pound closed lower on Friday as it extends the decline off July's high. The high range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If December extends the decline off July's high, the 50% retracement level of the 2013-2014 rally crossing at 1.6007 is the next downside target. Closes above the 20 day moving average crossing at 1.6583 would confirm that a low has been posted. First resistance is the 10 day moving average crossing at 1.6486. Second resistance is the 20 day moving average crossing at 1.6583. First support is today's low crossing at 1.6273. Second support is the 50% retracement level of the 2013-2014 rally crossing at 1.6007.

The December Swiss Franc closed higher due to short covering on Friday as it consolidated some of the decline off March's high. The mid range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If December extends the decline off July's high, the 75% retracement level of the 2013-2014 rally crossing at 1.0653 is the next downside target. Closes above the 20 day moving average crossing at 1.0958 would confirm that a low has been posted. First resistance is the 10 day moving average crossing at 1.0887. Second resistance is the 20 day moving average crossing at 1.0958. First support is today's low crossing at 1.0724. Second support is the 75% retracement level of the 2013-2014 rally crossing at 1.0653.

The December Canadian Dollar closed slightly lower on Friday. The low range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near term. Closes below last Tuesday's low crossing at 90.70 would confirm that a top has been posted. If December renews the rally off last Tuesday's low, the reaction high crossing at 93.04 is the next upside target. First resistance is last Friday's high crossing at 92.26. Second resistance is the reaction high crossing at 93.04. First support is last Tuesday's low crossing at 90.70. Second support is the 62% retracement level of the March-July rally crossing at 89.67.

The December Japanese Yen closed higher due to short covering on Friday after spiking below weekly support crossing at .9486. Today's mid range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If December extends the decline off June's high, weekly support crossing at .9013 is the next downside target. Closes above the 20 day moving average crossing at .9668 would confirm that a short term low has been posted. First resistance is the 10 day moving average crossing at .9587. Second resistance is the 20 day moving average crossing at .9668. First support is today's low crossing at .9469. Second support is weekly support crossing at .9013.

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Mid Week Currency Market Summary for Wednesday September 3rd

The December Dollar closed lower due to profit taking on Wednesday as it consolidates some of the rally off May's low. The low range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near term. If December extends the rally off May's low, weekly resistance crossing at 83.66 is the next upside target. Closes below the 20-day moving average crossing at 82.19 would confirm that a short term top has been posted. First resistance is today's high crossing at 83.19. Second resistance is weekly resistance crossing at 83.66. First support is the 10 day moving average crossing at 82.68. Second support is the 20 day moving average crossing at 82.19.

The December Euro closed higher due to short covering on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If December extends this summer's decline, the 87% retracement level of the 2013-2014 rally crossing at 129.96 is the next downside target. Closes above the 20 day moving average crossing at 132.90 are needed to confirm that a low has been posted. First resistance is the 10 day moving average crossing at 132.02. Second resistance is the 20 day moving average crossing at 132.90. First support is Tuesday's low crossing at 131.19. Second support is the 87% retracement level of the 2013-2014 rally crossing at 129.96.

The December British Pound closed lower on Wednesday confirming yesterday's key reversal down. The low range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If December extends the decline off July's high, the 38% retracement level of the 2013-2014 rally crossing at 1.6281 is the next downside target. Closes above the 20 day moving average crossing at 1.6633 would confirm that a low has been posted. First resistance is Tuesday's high crossing at 1.6629. Second resistance is the 20 day moving average crossing at 1.6633. First support is Wednesday's low crossing at 1.6426. Second support is the 38% retracement level of the 2013-2014 rally crossing at 1.6281.

The December Swiss Franc closed higher due to short covering on Wednesday. The high range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If December extends the decline off July's high, the 62% retracement level of the 2013-2014 rally crossing at 1.0802 is the next downside target. Closes above the 20 day moving average crossing at 1.0986 would confirm that a low has been posted. First resistance is the 20-day moving average crossing at 1.0986. Second resistance is the reaction high crossing at 1.1090. First support is Tuesday's low crossing at 1.0869. Second support is the 62% retracement level of the 2013-2014 rally crossing at 1.0802.

The December Canadian Dollar closed higher due to short covering on Wednesday. The high range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last Tuesday's low crossing at 90.70 would confirm that a top has been posted. If December renews the rally off last Tuesday's low, the reaction high crossing at 93.04 is the next upside target. First resistance is last Friday's high crossing at 92.26. Second resistance is the reaction high crossing at 93.04. First support is last Tuesday'slow crossing at 90.70. Second support is the 62% retracement level of the March-July rally crossing at 89.67.

The December Japanese Yen closed higher due to short covering on Wednesday as it consolidates some of the decline off July's high. Today's high range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off June's high, weekly support crossing at .9486 is the next downside target. Closes above the 20 day moving average crossing at .9697 would confirm that a short term low has been posted. First resistance is the 10 day moving average crossing at .9731. Second resistance is the 20 day moving average crossing at .9697. First support is Tuesday's low crossing at .9500. Second support is weekly support crossing at .9486. 

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