Forex Trade Alert and Gold Commentary

Monday, December 01, 2008.

Before I get started with the forex markets, I wanted to take a brief moment to direct your attention to a headline on Yahoo Finance. “FDA sets melamine standard for baby formula”.

That’s right. A certain “amount” of something toxic is “ok” they say. Well, they are wrong. The reason for this, is so that China can keep exporting to America, and the Fed can print dollars to make up for the difference in the trade deficit. Also, China can buy Us T-Bills in order to pay for it all, and the Us can then pay them interest on the T-Bills. Of course, we’re smarter than that.

http://biz.yahoo.com/ap/081129/infant_formula.html

Gold and Dollar

Gold is back. With another Fed bailout looming, there seems to be no end to it. As money supply expands, money becomes worth less. In fact, money is becoming worth less all over the world. So, gold may just be making a comeback here. We avoided gold for several months and rightfully so. I never just “hang on” because of “fundamentals”. Because often fundamentals become “funny-mentals”. Thinking of a Christmas present? Why not the Olympic Gold Coins? https://online.kitco.com/bullion/

$775.00 is the lowest I would pay for gold. If it goes lower than that, the chart changes, and it becomes too risky a trade. If strength holds, above $775.00, then I would be a buyer.

Lots of Trading Forex Opportunities Coming Up.

Overall, I’d expect some good trading opportunities here. Who knows when the next big market fall could be. Perhaps in March, as it historically has been over several of the past years.

For now, I am looking forward to many exciting forex trading opportunities.

Maybe US DOLLAR Run will come to the end soon, because usually GOLD and U.S DOLLAR

DON’T RUN IN SYNC.

Good Trading,

4XGENIE

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FOREX TRADE ALERT

Repatriation of funds by US and JAPANESE Investors and creditors in primarily responsible for the strength of DOLLAR and the YEN. In The long run, the current account surplus or deficit should determine a currency’s strength or wekness. Here are a few of the strongest and weakes as FORECAST BY THE IMF for 2008.

FOREX TRADE ALERT

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Declining consumer spending will cause a recession in most global economies — and don’t expect a short V-bottom. Politicians will attempt to create the illusion that the boom is back: supressing interest rates to discourage savings and encourage borrowing. But consumers are unlikely to fall for that trick too soon.

The risk is that lower consumer spending starts a downward spiral, with lower sales resulting in further job cuts, which in turn causes further falls in spending. Government response to this is generally big spending programs, especially on infrastructure, but these can either debase the currency if funded through a budget deficit, or hurt consumer spending if funded through increased taxes. The consumer is the backbone of the economy and the quickest, safest route to restore stability to the market place. Encourage consumers to save on energy costs by offering rebates on electric or alternative energy automobiles, use of public transport systems, and other energy-saving devices. That way you can use the new savings ethic to actually stimulate spending, while reducing reliance on oil imports.

Interbank Spreads
The NYFR-OIS 1-month spread fell to 1.0 percent, and appears headed for a return to the normal margin of 50 basis points (0.50%). Fed injection of close to a trillion dollars in the last two months, and interposing itself as intermediary in the interbank market, is finalling breaking the gridlock. But this does not mean that markets have returned to normal — they remain on life support.

The NYFR is a broader, independent alternative to LIBOR, while the overnight index swap rate (OIS) reflects traders’ expectations of the overnight fed funds rate. The 0.50 percent spread between the OIS and the fed funds target rate points to another rate cut.

By Colin Twiggs
November 15, 5:00 a.m. ET (8:00 p.m. AET)

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Forex Trade Alert

4xGenie Summary Report for EUR Currency Pairs

4th Wave Up Symbol: EUR/AUD As of Nov-13-2008

Buy at 1.9686 Stop at 1.8792 Limit at 2.0619 . Today’s candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here!

Next Day Trading Range.. High: 1.9510 Low: 1.9340

Next Day Breakout Points High: 1.9621 Low: 1.9281

Price Projections……. 1st: 2.3464 2nd: 2.5354

2nd Wave Up Long Symbol: EUR/CAD As of Nov-13-2008

On Nov-12-2008 a candlestick formation confirmed a buy signal. A buy signal was also confirmed when this pair closed above 1.5345 on Nov-12-2008. 4xgenie Action: ==> Buy at 1.5499. Stop at 1.4944. Wave 3 could rise up to 1.5979 or to 1.6471. NOTE: A consolidation of price movement or a price correction may be underway.

Next Day Trading Range.. High: 1.5458 Low: 1.5363

Next Day Breakout Points High: 1.5514 Low: 1.5324

Price Projections……. 1st: 1.6475 2nd: 1.7104

2nd Wave Dn Short Symbol: EUR/CHF As of Nov-13-2008

On Nov-11-2008 a candlestick formation confirmed a sell signal. A sell signal was also confirmed when this currency pair below 1.4913 on Nov-13-2008. 4xGenie Action: ==> Sell at 1.4713. Stop at 1.5200. Wave 3 could drop down to 1.4420 or to 1.3852. Today’s candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here!

Next Day Trading Range.. High: 1.4834 Low: 1.4787

Next Day Breakout Points High: 1.4855 Low: 1.4761

Price Projections……. 1st: 1.3852 2nd: 1.3350

1st Wave Up Symbol: EUR/GBP As of Nov-13-2008

Next Day Trading Range.. High: 0.8375 Low: 0.8334

Next Day Breakout Points High: 0.8400 Low: 0.8318

Price Projections……. 1st: 0.0000 2nd: 0.0000

A Wave Dn Symbol: EUR/JPY As of Nov-13-2008

Remain out of the market at the present time. QUARTERLY PIVOT ALERT: May be finding support here at the Quarterly S3. This bounce back above the support level of 118.1567 may lead us up to the Quarterly S2 ( support level 2).

Next Day Trading Range.. High: 119.9933 Low: 117.9833

Next Day Breakout Points High: 120.8667 Low: 116.8467

Price Projections……. 1st: 165.3300 2nd: 167.8874

C Wave Up Short Symbol: EUR/USD As of Nov-13-2008

Market is holding below the 1.3882 level. 4xGenie Action: ==> Maintain short position.

Or Sell at 1.2436. Limit at 1.2000 Price projection of 1.2711 has been reached. Stop at 1.3116. Today’s candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here! The CCI is below -100. This currency pair is oversold at this time.

Next Day Trading Range.. High: 1.2492 Low: 1.2443

Next Day Breakout Points High: 1.2516 Low: 1.2418

Price Projections……. 1st: 1.2711 2nd: 1.1892

4xGenie Support Team

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