Forex Bull

Fading demands for carry trades paired with the interest rate differential between the British pound and the Swiss franc continues to favor a bearish outlook for the GBPCHF.

by Johan Kriek (jkriek@fxinstructor.com) Key Notes: – Dow plunges below 7500 last week, risk aversion still rife – Talks over Citi Group bailout makes a equity market rebound possible Today’s Events: – EuroZone Industrial orders @ 09:00GMT – Germany Ifo business climate @ 09:00GMT – US Existing home sales @ 15:00GMT Probability Studies: We have a new triangular formation on the EUR which means if it is violated to the upside and price moves above 1.2700 the EUR will be situated in a definite bullish probability. A break of 1.2415 to the downside will confirm the bearish probability.

See the original post: Identifying Trades with DailyFX 11.24.08 (Daily FX)

US authorities announced they would come to the rescue of ailing banking giant Citigroup, investing $20 billion into the firm and saying they will protect the bank from loses on its $300-billion portfolio of mortgage backed securities.

China’s provinces have drawn up long wish lists for roads and other projects since Beijing unveiled an economic stimulus plan, state TV reported, as local leaders take advantage of a new willingness to spend amid the global crisis.

Mon, 24th of November, 2008 By Setyo Wibowo (analyst@fxinstructor.com) EURUSD Outlook The EURUSD made a significant upside correction on Friday. The pair topped at 1.2637 and closed at 1.2587 . Today we might see another upside attempt as the price already broke the bearish trend line on 4h chart to the upside

The US dollar and Japanese yen failed to break above key resistance points on Friday as risk appetite made a last minute recovery. Event risk will pick up this week for the US dollar, euro, and Canadian dollar, but with the US markets on holiday on Thursday, lower volumes may either result in wild volatility or very subdued trading.

After going through my scans and thinking about this market after Friday’s late action, there are a few things I do know but quite a lot of things that I don’t know. Let me share both

China’s provinces have drawn up long wish lists for roads and other projects since Beijing unveiled its economic stimulus plan, state TV said Sunday, indicating local leaders are rushing to take advantage of a new willingness to spend amid the global economic crisis.