Colt FX Late edition November 24th
Colt FX Late edition Monday November 24th 2008
In this week’s issue:
Forex Focus November 24th to 28th
Monday November 24th Update
Live trading session: Wednesday November 26th
Colt on candles
New prices for Colt FX Total
New indicator for Rumus 2
Forex Focus 24th to 28th
Most majors range-bound
Risk aversion was the name of the game as most of the majors continued to trade within their ranges…video + charts + text
Calendar November 24th to 28th
For an extensive list of the week’s economic releases and events see our economic calendar.
Monday November 24th News round-up
The US government threw a lifeline to ailing financial giant Citi in the dying hours of Sunday night. The US Treasury, the Federal Reserve and the FIDC stepped in with $20B and promises to guarantee up to $306B worth of ‘problematic assets’. The US government also made it clear that there was plenty more where that came from and similar arrangements would be extended to other banks that pose risk to financial system stability, if need be. The markets loved this; equities rose across Europe and the States. US stocks are said to be heading for their biggest two-day rally since 1987. As risk appetite grew, EUR/USD and GBP/USD rose and the dollar strengthened against the yen. Sterling was also helped by the UK’s stimulus package which included reducing sales tax (V.A.T) in a bid to increase consumer spending. The UK looks set to be the biggest debtor in the G7 and the plans, including an income tax hike for the better-off, have been criticized as being politically rather than financially motivated.
Barack Obama announced his economic team today. There were no surprises with Timothy Geithner to be the next Treasury secretary, Lawrence Summers to head the National Economic Council and Christina Romer to chair the White House Council of Economic Advisers.
There was disappointing data out of Europe and the States. German Ifo Business Climate came in weaker than expected, as did US Existing Homes with average home prices falling the most on record.
Other data to look out for this week are GDP numbers for Germany and the US on Tuesday, with UK GDP out on Wednesday. Also on Wednesday we’ve got US Durable Goods Orders to look forward to and the currently sensitive US Unemployment Claims. Please check our economic calendar for full details.
If you are trading on Thanksgiving Day (Thursday), please take care as it could be pretty volatile out there.
The euro and sterling are both on the rise as I write. EUR is already testing Forex Focus’ resistance at 1.2930. If that breaks, my next target will be 1.3120.
Live Trading Sessions
The next session will be on November 26th at 15:30 to 17:30 GMT. We will be trading the Colt FX pairs; and the Jam FX system; looking at price gaps and taking a look at what is happening on the charts.
If you’d like to join in, write to me at colt@coltfx.com.
Colt FX Total New Price Our new prices are in the shop now.
You can find the RuLang code to Relative Vigor Index RVI on the Colt FX forum. We will be taking a look at the indicator in this week’s Colt FX live session.
Colt on candles My latest blog which aims to test the effectiveness of Japanese candlestick analysis.
Forex Club’s Platinum Package
Forex Club is offering the Colt FX distance learning course as part of their package of incentives to open a Platinum account. You can learn more about the details of this offer at http://www.fxclub.com/platinum/. You can find out more about Colt FX in our short film What is Colt FX?
Forex Club is offering the Colt FX distance learning course as part of their package of incentives to open a Platinum account. You can learn more about the details of this offer at http://www.fxclub.com/platinum/. You can find out more about Colt FX in our short film What is Colt FX?
If you have any questions about this newsletter or any of our services, please drop me a line at colt@coltfx.com.
Disclaimer
www.coltfx.com, and any of its affiliates, will not be held responsible for the reliability or accuracy of the information available in this newsletter. The content provided is put forward in good faith and believed to be accurate, however, there are no explicit or implicit warranties of accuracy or timeliness made by Colt FX or its affiliates. The reader agrees not to hold Colt FX or any of its affiliates, liable for decisions that are based on information in this newsletter. We highly recommend that before making a decision, the reader collects several opinions related to the decision and verifies facts from at least several independent sources.
www.coltfx.com, and any of its affiliates, will not be held responsible for the reliability or accuracy of the information available in this newsletter. The content provided is put forward in good faith and believed to be accurate, however, there are no explicit or implicit warranties of accuracy or timeliness made by Colt FX or its affiliates. The reader agrees not to hold Colt FX or any of its affiliates, liable for decisions that are based on information in this newsletter. We highly recommend that before making a decision, the reader collects several opinions related to the decision and verifies facts from at least several independent sources.
25 November | 
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