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Released On: August 31 2008
Dear Fellow Trader,
We're at the time of the year again...when stock markets can get
an attack of the 'willies' and then pass on the panic to the forex
markets.
This year, with things as they are in the US economy, it's vital
forex traders have some help at hand so they don't get the 'willies'.
There is no need for you to be 'flying blind' in these markets when
www.forextrm.com
is right here with you, keeping tabs on 18 world and regional currencies
each day.
What's more, ForexTRM 'pairs' all the currencies so you can track
any one the 18 against all of the other 17. No small thing for a
forex trader.
I also publish daily charts on by blog at www.sigmabands.com
to keep you in the picture with factors affecting the US economy,
which impacts on all currencies. My blog postings are to counter
the 'spin' of government and the so- called market 'pundits'.
So no need to stress, we're here to help.
Now let's turn to the ALERTS Newsletter to see where you could make
money in forex.
Last week I suggested watching the Australian Dollar and the Swiss
Franc. I believed, and still do believe, that these two currencies
are close to a bottom and will soon turn upward.
This week I want to add two new currencies to my 'to watch' list,
the Euro and the British Pound.
Euro versus US Dollar (EUR/USD): Our
charts for the Euro are at:
Sigma Bands™
Trading
Signals
Signal
Bands
Cyclical
Decompositions
Curvilinear
Envelopes
Notice on the Sigma Bands™ chart how the Euro is testing its previous
low, but the red momentum line is not confirming this retesting.
In fact, the red momentum line continues to rise.
Also, notice that the red momentum line is above the black momentum
line on the Trading Signals chart. These are signs the Euro may
be close to a bottom. So monitor this one closely.
The European Central Banks have been co-operating with the US Federal
Reserve to knock down the Euro and other currencies, all in an effort
to create an illusion that the US Dollar has hit bottom and is turning
around.
This was all done to sucker investors into buying overpriced US
Treasuries at the latest quarterly auction. And it did work. But,
now the auction is close to an end. So there's no more reason for
the Central Banks to waste valuable resources propping up the Dollar.
British Pound versus US Dollar (GBP/USD):
What I just wrote about the Euro also applies, to some extent, to
the British Pound.
The Trading Signals have given a sell signal with prices below
the -2 Sigma level. This is not where you want a sell signal. I
suspect a buy signal will be coming very soon. When it does you
may want to consider buying into the Pound. Our charts are at:
Sigma Bands™
Trading
Signals
Signal
Bands
Cyclical
Decompositions
Curvilinear
Envelopes
 
Keep a close watch on your ForexTRM charts. In fact, checking
your ForexTRM charts should be your first job each day.
Take it easy and have a good week.
James Maggio
Trade Risk Management
DISCLAIMER:
Trade Risk Management endeavors to ensure accuracy
and reliability of the information provided but does not accept
any liability whatsoever, whether in tort or contract or otherwise,
for any loss or damage arising from the use of the TRM charting
service or Alerts.
Commodity Futures Trading Commission advise: Trading has large potential
rewards, but also large potential risk. You must be aware of the
risks and be willing to accept them in order to invest in the futures
and options markets. Don't trade with money you can't afford to
lose. This is neither a solicitation nor an offer to Buy/Sell futures
or options. The past performance of any trading service is not necessarily
indicative of future results.
Trade Risk Management LLC
210 N.E. 6th Street, Long Beach, Washington, WA 98631, USA.
P.O. Box 1531 Long Beach, WA 98631, USA.
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