FYI | Jul 18 2012
FNArena has added another video to its Investors Education section on the website. This week ATW's Jerry Simmons focuses on natural gas and the euro among a host of other topics.
This week is an options expiration week and the Natural Gas Daily spent all of last week consolidating, notes Jerry. As long as it holds at current levels, he sees an increasing chance for another wave to the upside. Even were gas to break down past 2.48, he sees it as a good sign for a very positive for a bullish pattern. Although, he points out there is already a double bottom in place.
In the EUR/USD daily charts, Jerry points out a 5 wave completed then retested on Friday, with good chances it hit a 5 wave completion target. From here, 1.2287 provides a lot of resistance that would need to be taken out, but if the 5 wave move is actually completed, there could be a push to the 1.25 area. The most positive sign would be a solid pullback Monday morning US time.
To view the ATW Strategic Prep Video click HERE or visit the FNArena Investors Education section of the website.
All views expressed are Jerry Simmons's, not FNArena's (see our disclaimer).
Jerry Simmons has over 25 years of full-time trading experience. He is the senior partner and head mentor for the “Masters” Programme within the education system at New York based Advanced Trading Workshop (ATW).
FNArena is pleased to have Jerry Simmons as a highly valued contributor to its service which aims at both educating investors and assisting them with their own market analyses.
The above mentioned videos can be accessed via the FNArena Investor Education section at https://www.fnarena.com/index4.cfm?type=dsp_front_videos)
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