Forex Bull

Oct 01, 2008 by Johan Kriek (jkriek@fxinstructor.com) Good day fellow traders Herewith my probability studies for today We can see how the dollar strengthened across the board yesterday, so much that some records against some majors were broken. This move came after we saw weak Eurozone economic numbers and stronger US economic numbers and the fact that some “distressed” financial institutions in Euroland were bailed out hammered the last nail in the coffin and the selloff just gathered momentum.. We have a bullish trading condition on the CHF within this bullish probability

After bouncing around 88.50 last week, the AUDJPY has come under heavy selling pressures to break below 85.00.

Student’s Question: I took the advice from Daily FX Plus - Trading signals, as well as used a 1 year graph to find the support line. There are two mistakes that I feel I made on this trade.

This is a daily chart of the USD Index. It is used to get an idea of the strength/weakness of the USD against a basket of currencies.

Original post: 
Identifying Trades with DailyFX 10.01.08 (Daily FX)

Wed, 01th of October, 2008 By Setyo Wibowo (analyst@fxinstructor.com) EURUSD Outlook The EURUSD continued it’s bearish momentum yesterday. The pair bottomed at 1.4009 and closed at 1.4113 . The bearish scenario should continue to gather momentum today.

The ISM manufacturing index is expected to fall to 49.5 from 49.9 in August, and may weigh on the U.S. dollar as the growth outlook for the world?s largest economy turns bleak.

The euro crumbled versus the US dollar on Tuesday as Eurostat?s estimate of September CPI eased in line with expectations to an annualized reading of 3.6 percent. This isn?t incredibly surprising as we?ve seen lower commodity prices have helped to cool global inflation pressures, and as a result, the data added to speculation that the European Central Bank?s next policy move will be a rate cut.

While multiple counts are still valid in the EURUSD, the GBPUSD count has cleared up. There are good opportunties in this pair to start October.

Here is the original: 
Guest Speaker Andrew Spanton’s Technical Wrapup 09.30.08 (Daily FX)