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There is no vacation in this August’s market – choppy and sometimes wild trading accompanied in the week that began with the historic US downgrade and continued with significant interventions, fears in France and more. But now, the markets are closed and it’s time to sit back and enjoy some weekend reading. Here are my picks. Enjoy!

Ben Bernanke also weighed in this week, pledging to leave interest rates unchanged for two years. At least. This surprising move still left the QE3 question open, although it doesn’t seem likely now. We’ll probably have to wait for the Jackson Hole Symposium on August 26th, where Bernanke hinted about QE2.

  • Izabella Kaminska discusses the option that QE will achieve the exact opposite thing that it is meant to do.
  • Lior Cohen provides a long-term outlook for oil prices.
  • Anthony Doyle argues that the US is headed for recession, using 63 years of economic data.
  • Larry Greenberg provides an updated look at the US economy performed under Democratic and Republican presidents. There is a clear winner.
  • James Woolley explains the different settings you can use for pivot points.
  • Casey Stubbs shows how to conduct a trading strategy back testing test.
  • Felix Shipkevich reports about how forex conspirators were ordered to pay penalties.
  • Michael Greenberg reports that forex deposits are $9 million lower in Q2, according to the CFTC.
  • Francesc Riverola announces the launch of a Japanese forex news feed by FXStreet.
Here are some long term articles published on Forex Crunch this week:
That’s it. Have a great weekend.