 Welcome back folks. Dow. Dow is down 466. We get the NASDAQ off 122. S&Ps are off 46. Let's go over to our mam. It's the Teddy Cakes that as we do each and every Wednesday, you can reach Teddy every trading day folks at 4X-trading-unlocked.com. That's 4X-trading-unlocked.com. Teddy Cakes that I can't believe it's a week later already man. Holy cow man. These are going quick. How about it? How about it? We got some interesting things with the Dixie on its highs right? Yes we do. Yes we do. Talk to us man. All right well why don't we start out with your favorite currency the Japanese yen. Good. Perfect. So dollar index is strong but it doesn't seem to be impacting the yen. The yen seems to be a little bit stronger. So we had a rejection of two weeks ago we set a higher move high in the US dollar yen trade and since then it's been under pressure a little bit and then we had a spike high yesterday failed to make a higher move high and now it reversed gears and today we're all off. If you pull up the chart right now you can see that the market is going lower right now. Yes no I can you know that half of you know 44 ticks. Yeah look at that man. And you know you didn't get back in that range man. I mean that and that was from well that big down day. What was that? That was August 1st right. That's when we went from that 109 to 107 right. Right now here's an interesting thing for your listeners yesterday was October 1st. We have the beginning of a month. A lot of times you have moves that are initiated at the beginning of the month. We had multiple markets that spiked against the dollar or with the dollar you know what have you yesterday and the dollar index started off very strong today. It was very interesting because it started to go against those pivot points from yesterday initially this morning. Yes. Okay. So dollar index was higher all night and especially before the US stock market opened. The pound was lower. The euro was lower. The yen however this the US dollar yen was lower. So that was not going the way in the dollar index whatsoever. Okay. Yeah. Now we have another interesting thing the US dollar Swiss that had a similar cell signal yesterday. They crossed parity. Okay. For the second time as of late but then they rejected it and it looked like it was a failure and then like a balloon underwater the Swiss of all the currencies shows dollar strength in a very very big way. So I think that we might be coming to one of those inflection points again. You know especially since we're at the beginning of the month. Okay. The US dollar yen this little cell signal that's going on from yesterday is following through today maybe setting the trend for a while especially because member of the Fed they cut rates again. You know just recently where I thought they were going to hold off another month and then they also came up with the following through that they're likely to pull some more bullets out of their pocket. Right. So the bear the US dollar yen bear I think it's back even though we have trade talks coming up next week. Yeah. No. You know it's so intriguing to me that they I mean gold got smoked last week but it came right back and you know when when you're looking at the gold market I mean it's amazing we're still at fifteen hundred and a dollar's at highs. So it's like okay you know if the dollar gives it up at all you know you're really going to get some action here. Yeah. Sure. You know but each and every time that it seems to come off a high just we haven't got any follow through on the way down yet. You know what I mean. Right now here's the other interesting thing. Like I said the dollar index today showed all the strength overnight and coming to our market opening all of a sudden it's falling back a little bit. I think that this signal this might be a good inflection point because yesterday the euro spiked low. Now that market has been trending lower for the past month and a half. Right. Pressing that lower boundary of support and it's usually when it gets to this one oh eight half to one oh nine half area that's where that no matter what's going on the euro seems to find a base and gets another like rally. I don't know why it seems to be it. Right. So yesterday we had a piercing line formation another Jeff he's candlestick signal you know and initially the euro US dollar was lower today. It looked like that signal might fail like it did in the Swiss but it didn't now it's higher and then the pound also did the same thing. It spiked low yesterday was trading. I think it's slightly lower right now but it's at the upper part of its range and it's actually if you look at it. Yeah it is. I can see it it rejected that one two two seven. Right. One two three zero three right now. Yeah. Right. And remember I mentioned the US dollar Swiss. I looked at the Swiss versus all the other major currency crosses on last night. The Swiss was totally strong. So all of a sudden this morning we get this snap back like it's like a knee jerk. I think that you might see the US dollar Swiss turn around and reverse gears and if it does then I think you'll see a sell off in the dollar index for at least like a week or so as we head into the trade talks. Yeah man there's so much different movement. I was listening to Bloomberg and one person was bringing up the chart and then the other person was saying well I think it's pretty easy you know and it was a fundamentalist but when they said it it was just amazing and what it was is that they said well if you go back to like 2000 the end trade in the US dollar was like one trillion dollars all trade around the world right. If you come to today I forget what the number was but it's like five to seven trillion or nine trillion. I mean I think you told me it was 16 but whatever it was it was outrageous. I mean it was like and and you know wasn't everybody using the dollar in 2000. Yeah. Right. I mean yeah of course. So you know it was like when you're looking at that aspect I was like saying is there only going to be the dollar left. I mean if that's what all trade is and she wasn't just talking about the United States. She was talking about two foreign countries outside of the United States still trading in US dollars. Sure. You know which you can see why it's going to make sense. You start trading you know and all these other currencies man you better have it hedged out in a big way right. Ultimately everybody wants US dollars even if they're using other currencies for even in multiple currencies eventually they want to somehow cash out into dollars because it's always the most stable currency. Right. Right. Hey you know let me ask you something. When before the euro came in I know you would you were still trading currencies then that must have been really wild right that there was all these different currencies. Right. Yeah. Absolutely. The D mark. Well that was when the D mark was a really big deal. I see. I remember when I was on the trading floor at the mark that the currencies when they still were flying in the futures pits back in the early 90s the currencies were crazy. I mean they were absolutely nuts and the D mark pit the D mark pit and the end pit those were the two biggest pits there. Were they. OK. OK. The mark was that was the that was the big I mean the pound had huge volume but it wasn't the most actively traded contract you know except for when it was really busy but on any given day the D mark that thing was crazy and that was before you had an EU that was when it was just Germany. Sure. Right. Right. That also reminds me we have tomorrow retail sales coming out for the EU and that's a big deal because they just downgraded all their forecast for GDP and all these things for the next year for the EU. So if they get a nice positive spike for retail sales which obviously be coming out unexpected then that would help to fuel this little bounce in the Euro US dollar that might be starting to form right now. Yeah. And you know I mean you can see the S&P. I mean the indices are getting smoked out here today and it's really going to be interesting to see OK what does that do to the currencies if anything. You know right. You have those trade talks coming out tomorrow and member Boris Johnson was speaking and there's a whole not sense now with Brexit going on. So we have this timeline where we're three weeks away from Brexit deadline or three weeks away because next week is the trade talks and we know next month there's a bunch of deadlines for that too. So we'll see if they manifest. So never ending cycle of news right now man. Amazing. Yeah. Listen folks every trading day you can go over to Forex that's trading that's on lock dot com. Check out Teddy Forex that's trading that's on lock dot com. Teddy you have a great safe week man. We look forward to speaking next week. Thanks so much. Thank you man.