Forex Bull

by Johan Kriek (jkriek@fxinstructor.com) Key Notes: – China Stimulus package short lived as GM falters – Possible continuation of the risk aversion we’ve seen in the Asian markets Probability Studies: No Trade Zone, bearish probability. The bearish probability took effect as soon as price violated the bullish 60minute trend to the downside at roundabout 1.2740 Should the low at 1.2675 be taken out and confirmed we will have a nice bearish trading condition. Bombs away! *watch the ZEW survey at 10AM GMT today.

I was on Bloomberg Television this evening talking about the Canadian and New Zealand Dollars (click on the image to watch the video)

Oil prices tumbled more than $2 to near $60 a barrel on Tuesday as a firmer dollar and renewed gloom over the global economy wiped away the brief euphoria that greeted Beijing’s $600 billion stimulus plan.

Tue, 11th of November, 2008 By Setyo Wibowo (analyst@fxinstructor.com) EURUSD Outlook The EURUSD attempted to push higher yesterday.

A day of bankruptcies, record losses, and zero value stock forecasts saw US equity indices taking a nose dive two hours into the US trading day forcing currencies to give up earlier rallies following a strong showing at the open in Asia.

The dollar was mixed Monday as the U.S. government announced it would pump more money into troubled insurance giant American International Group, feeding fears about the economy.

Agriculture futures and other commodities rose Monday in response to China’s announcement that it will spend $586 billion to stimulate its slowing economy.

Despite the fact that news headlines for the last few weeks were dominated by the lead-up to the U.S.

US equities turned as traders realize that everyone is pinning too much hope on China.

On news of a major stimulus plan from the only government in the world that can really afford one (China), overseas markets rallied hard last night and U.S. pre-market futures were up big as well. Those futures did fade throughout the pre-market session, however, and when the market actually opened, it sort of did the same thing.