Forex Bull

by Johan Kriek (jkriek@fxinstructor.com) Key Notes: – Paulson changes $700bln bailout plan to prop up consumer credit, equities sell off again – GBP record low vs USD etc and violates 25yr rising wedge – Dovish King signals more rate cuts in December Probability Studies: Bearish probability but unfortunately a no trade zone as the 1 hour stoch is bullish.

Thu, 13th of November, 2008 By Setyo Wibowo (analyst@fxinstructor.com) EURUSD Outlook The EURUSD attempted to pushed higher yesterday. The pair topped at 1.2631 but further upside correction was rejected as the pair whipsawed to the downside, hit the bottom at 1.2436 and closed at 1.2454 .

Government ministries will receive an extra 100 billion yuan and a major state utility will invest hundreds of millions of dollars to expand power grids this year as part of China’s massive economic stimulus package, state media reported Thursday.

I have a thousand thoughts spinning in my head right now so I will attempt to get them down as best I can tonight. Let’s start with the obvious.

One thing investors do not like to see is the unexpected, particularly changes in the plan in the middle of the ball game and while Treasury Sec. Snow may be right to change directions for what’s left of the TARP funds investors voted with their money seeing US equity indices in another sharp crash

The Bush administration on Wednesday largely abandoned its plan to buy up toxic mortgage assets and said it will focus its $700 billion financial bailout fund on making direct investments in financial institutions and shoring up consumer credit markets.

- Equity indices around the world remain under pressure as uncertainty abounds.

If Martin Feldstein, a member of the National Bureau of Economic Research is right about the unemployment rate surpassing 8 percent, then we could expect consumer spending to slow further, pushing more retail chains into bankruptcy. The NBER is the organization that officially determines whether the US economy has fallen into a

Another day, another gap down for the stock market today – this one down.

Oil prices settled at a 21-month low Wednesday as investors worried about a global slowdown in crude demand ahead of the latest U.S. government inventory report.