Rethink Foreign Exchange

USDCHF is testing 1.1416 previous high resistance. Further rise could be seen to 1.1800 zone after consolidation, and a break of 1.1416 will confirm such case. Initial support is at 1.1055 and followed by the up trend line from 1.0010 to 1.0693, as long as 1.1055 support holds, we’d expect up trend to continue. For long term analysis, USDCHF is in long term bullish movement. Further rise is still possible to 1.2000 zone after consolidation.

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Despite improved growth the Canadian dollar fell over 500 points against the dollar as global growth declines. The anticipated decline in demand for raw materials has led to commodity prices dropping, which is expected to weigh on the Canadian economy.

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Action Insight Weekly Review and Outlook Bailout Plan Approved but Investors Unconvinced, Risk Aversion Dominates After a week of drama, the $700b bailout plan was finally approved by House on Friday. With Senate already approve the modified plan on Wednesday, US President Bush signed off the plan to ease the credit crunch that’s now “threatening” the US economy. However, the markets are rather not convinced that this is the solution. Dow ended up 7.3%% lower to close the week. The news was

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The focus in Australian Dollar trading falls squarely on the Reserve Bank next week, with expectations calling for Glenn Stevens and company to reduce borrowing costs by 50 basis points.

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The downturn in the global financial market paired with fading risk sentiments has triggered bearish price action for the New Zealand dollar, but mounting hopes for the U.S. bailout package has certainly helped to calm fears, and led the high-yielding currency to bounce back at the end of the trading week.

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The US House has approved Bush’s $ 700 Billion Bailout Plan to save the US financial market in the second attempt after some modifications, including tax cuts, were introduced to it, in a improvised reaction to revive it after it was rejected on Monday. The plan has been approved by 263 votes to 171, with Democrat representatives voting massively for it while iin the republican side the “Nay” won over the “Yea” by a narrow margin. The Plan, mainly consisting in a $700 billion bailout to buy

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Announcement: www.forexsurvivor.net   This is to announce that ForexSurvivor Team & Mr. Anthony Samaha are working on a new development regarding Forex & Non-Forex Trading Signals.    ForexSurvivor.com will be versioned under ForexSurvivor.net in a new environment within 15days. We are no longer responsible for any news or information regarding forexsurvivor.com, and everything is shifted to www.forexsurvivor.net   Contact us: support@forexsurvivor.net   Make

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The dollar rose against the euro in New York trading late Friday night. The 15-nation currency dropped to $1.5423 from $1.5460 it traded late Thursday.

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Through there is growing concern as to how long high yielding currencies like the New Zealand and Australian dollars can keep their rates at record highs, interest in the carry trade has still improved over the past week.

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Warren Buffett said on Saturday he expects the euro and the sterling to hold their own against the U.S. dollar, in part because of U.S. fiscal and trade policies that weigh on the value of the greenback.

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