Forex Bull

CLICHY, France—-Regulatory News:

Over the past two weeks, the CHFJPY has held within a narrow range between 86.50 and 91.25, but failed to hold its ground as the pair plunged to an intraday low of 85.40.

Student?s Question: I am not sure how to interpret the chart correctly, but with the sharp declining support line, would it be an opportunity to buy NZD?

The Euro collapsed in overnight trading, testing below 1.28 against the US Dollar. The British Pound followed suit, with GBPUSD trying below 1.63. With a thin economic calendar ahead in European trading hours, little stands in the way of current momentum.

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Identifying Trades with DailyFX 10.22.08 (Daily FX)

Another currency pair that is close to moving down through support is the CAD/JPY.

The dollar rose to its highest point in more than five years against the pound in late New York trading Tuesday night. The pound fell to $1.6560 from $1.6946 in late afternoon trading on Tuesday, bottoming at $1.6507.

Wed, 22th of October, 2008 By Setyo Wibowo (analyst@fxinstructor.com) EURUSD Outlook The EURUSD continued it’s bearish momentum yesterday. After broke the main support level at 1.3258 , the pair bottomed at 1.3050 and closed at 1.3054 . My model is short targeting 1.2875

The dollar rose against the euro late Tuesday night in New York. The 15-nation currency traded at $1.3003, down further from $1.3133 in late afternoon trading on Tuesday

The Canadian dollar pulled back sharply as the Bank of Canada cut the overnight rate target by 25bps to 2.25 percent, the second reduction this month after participating in the October 8 coordinated rate cuts.