Forex Bull

The AUDCAD has faced increased selling pressure after reaching a high of 0.9846 on 7/15/08, and may offer profitable opportunities for forex traders.

The FOMC is expected to cut rates by 50 bps bringing the overnight rate down to %1.00. Easing of this depth is almost always bearish for the local currency and we expect the same reaction for the dollar today.

Profit-taking in USD-JPY and JPY crosses continues to define the theme of the Asian trading session. USD-JPY, which hit highs in late NY Of 99.69, has extended losses to 96.22 this afternoon.

Go here to see the original: 
Identifying Trades with DailyFX 10.29.08 (Daily FX)

Student?s Question: This is a down trend so I started my line from the top and going down. Now if I understand correctly I would wait for the market to retrace to 38.2% level and show some resistance or should I say to test that level and l am looking for a reversal candlestick pattern.

How did the actions of subprime mortgage borrowers in the US affect global financial markets and lead to the ongoing liquidity crisis – and will the resulting fallout hurt the wider economy?

The dollar fell further against the pound in late New York trading Tuesday night. The pound rose to $1.6019 from $1.5775 in late afternoon trading on Tuesday. The pound fell under $1.60 last Friday for the first time in more than 5 years.

Wed, 29th of October, 2008 By Setyo Wibowo (analyst@fxinstructor.com) EURUSD Outlook The EURUSD made a significant upside correction yesterday (It’s about time huh? ).

LEAWOOD, Kan.—-Euronet Worldwide Inc. , a leading electronic payments provider, today announced its third quarter 2008 financial results.

Here is the original: 
Forex Wrapup 10.28.08 (Daily FX)