FYI | Nov 15 2011
FNArena has added another video to its Investors Education section on the website. In this video, ATW's Jerry Simmons explains as to why the outlook has turned bullish for EUR/USD. His charts show a "bullish reversal" for the cross.
It's probably no coincidence then we are also witnessing a promising rally in US equities. According to Simmons, the S&P500 must hold 1243-1248 to maintain the bullish bias. Key targets ahead are 1263-1265, then 1275, then 1290. To sustain this bull market the index must take them all, he argues.
Things seem to have become a bit more murky for AUD/USD. Simmons believes the Aussie needs to take out 1.036-1.04 for bullish continuation. Meanwhile, the 98.5-99.2 area is providing technical support.
Simmons also describes a year-end rally for equities as "an historical pattern".
To view the ATW Strategic Prep Video click HERE or visit the FNArena Investors Education section of the website.
Here's the direct link: http://www.fnarena.com/index2.cfm?type=dsp_front_videos&vid=60
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 http://www.fnarena.com/index4.cfm?type=dsp_front_videos)
