Forex Bull

15 October 2008 by Johan Kriek (jkriek@fxinstructor.com The CHF violated the rising wedge to the downside and price is now converging with the violated support which now acts as resistance.

Another look at the AUD/CAD 4-hour chart shows how this market is acting similar to the last high about three weeks ago.

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Identifying Trades with DailyFX 10.15.08 (Daily FX)

The dollar rose against the pound in late New York trading Tuesday night.

The dollar erased its gains against the Japanese yen late Tuesday night.

The US dollar may be breaking free of the close relationship to risk sentiment that we had observed in recent weeks. We noted last week that the greenback had gained in spite of shaky US fundamentals as investors spooked by risky market conditions abandoned stocks and other higher-risk assets to flock to long-term US Treasury bonds.

Volatility seems to be settling as the global effort to stabilize the rift in investor and lender confidence takes the reins on market activity.

Hi there fellow traders! Herewith is my daily video recap for October 14, 2008, in which I discuss what happened on the market today, in our Live Forex Trading Room . http://www.youtube.com/watch?v=HWTiXTddJ0g Today’s Probability Studies can be found on our blog right here: http://blog.fxinstructor.com/14-october-probability-studies-european-morning-update/ To learn more about the Live Trading Room , please click here .

The US dollar ended the day lower versus most of the majors, though the bulk of the action came overnight in anticipation of the US government?s big recapitalization plan announcement.

Global lending conditions have started to noticeably improve as the “Ted” spread*, a common default risk gauge, has fallen -5.93% in the past two days having set an all-time record high just last Friday.