Forex Bull

After peaking to 1.6221 on August 7th, the EURCAD has come under heavy selling pressure to break below key support level.

Here is an hourly chart of one of the pairs we have been following. You can see on the chart that the AUD/CAD has moved into a range after selling off strongly.

As we know it, Japan?s economy has been labeled recessionary given its two consecutive quarters of negative strength.

After coming in positively only once since 2002, Australia saw its August Trade Balance rise to A$1.36 billion. Being the second largest balance in the country?s history, the metric rose after exports soared 6.44% while imports declined 2.4%.

Financial markets reacted cautiously to the Senate’s passage of the banking bailout plan late Wednesday, with stock index futures falling and indicating a drop when trading resumed Thursday.

Thu, 02th of October, 2008 By Setyo Wibowo (analyst@fxinstructor.com) EURUSD Outlook The EURUSD continued it’s bearish momentum yesterday.

USDCHF is forming a sideways consolidation in a range between 1.0693 and 1.1416. Further rise is still possible to test 1.1416 (Sep 11 high) resistance. As long as this level

On a 60-minute chart there appears to have been clear upward trending support for the Pound against the Australian Dollar. Since 09/08/08 the pair has bounced off this broader trending line at least four times.

The dollar slipped against the Japanese yen late Wednesday night, even as the Senate passed the $700 billion bank bailout bill. The greenback dipped to 105.76 yen from the 105.84 yen it bought in late afternoon trading.

The dollar continued gaining against the euro late Wednesday night in New York as the Senate passed a sweetened version of the $700 billion bank rescue plan. The 15-nation currency traded at $1.3958, down from $1.4061 in late afternoon trading on Wednesday.