Written by britt maras
Tuesday, September 8th, 2009
Forex Trading to Improve Through Year End
Goodbye to August, a questionable one at that, as we get ready for what is likely to be a fantastic autumn FX market. I anticipate Market Timing Alerts to be restored to normal forex signal levels with effective technical price action and I expect liquidity but more so technical performance to normalize and be contained within efficient technical patterns.
I extend a gracious ‘thank you’ to all of our forex traders in the Timing the Markets Trade Room for their patience during a tumultuous August forex trading period. I know all of us are eager and look forward to resumption of more normal price patterns and market timing systems.
Macro Market Comments:
Currently I feel the equity market is zealously overbought, if that, let alone I am convinced that dealers, brokers and market makers of the like have been distributing or front-running the common joe schmo investor. This is not good!
Gold is over-extended and a break back below $984.00 levels with a New York close below 987-984 will be the first indication that Gold has experienced an illiquid bull thrust. This will be an important indicator for me but I do believe the forex market is the leader on the world stage for equity values and treasury yields. GILT’s are not in this race but JGB’s are now coming to the front of the pack as the world looks set to start to reevaluate risk for the balance of this year.
I remain cautious against equity values and fundamental news that may zealously impact the short-term value of the U.S. Dollar Index. Regular Market Forecast commentary should start to return to standard rate of delivery from me as soon as FX Technical’s improve and I see Gold reconditioned technically. Until then, stay tuned, remain patient and let’s continue to remain composed and in the hunt for what can be some fantastic trading events over the next few weeks and months to come.
Britt Maras – Senior Currency Strategist
