Colt FX Late Edition December 15th
Colt FX Late edition Monday December 15th 2008
In this week’s issue:
Forex Focus December 15th – 19th
Monday December 1st Update
Live trading session: Wednesday December 15th
Colt on candles
New prices for Colt FX Total
Forex Focus December 15th to 19th
Dollar falls across the board
A week of euro strength saw the greenback fall against all the majors and hit a 13-year low against the Japanese yen.…video + charts + text
Calendar December 15th to 19th
For an extensive list of the week’s economic releases and events see our economic calendar.
Monday December 15th News round-up
The US dollar continued to lose against the majors as a range of factors came into play.
The US Treasury’s offer to tide US auto makers over the holidays bolstered markets in Asia and saw the European currencies strengthen against the US dollar. Meanwhile, unsurprisingly bad Tankan data out of Japan saw Japanese business confidence suffer its sharpest fall since the 1970’s, triggering more yen strength against the greenback.
Tomorrow’s big news will be the Fed’s interest rate announcement. The consensus is for a 50 bps cut. However, speculation that a 75bps cut is on the cards could also be bringing downside pressure on the dollar.
There’s also the ground swell of opinion that US policy makers, flooding the world with an extra $8.5 trillion via 23 different bailout and stimulus programs, can only degrade the greenback.
However valid these factors seem, we must also bear in mind that this current dollar decline could be largely due to end-of-the-year profit-taking from the second leg of the July-November dollar rally.
Other fundamental releases to look out for in addition to the Fed’s interest rate announcement include the Bank of England’s meeting minutes for the 3-4 December meeting, which will most probably show unanimous support for the last MPC cut to 2.00% with an option for further cuts sometime soon. This coupled with more weak UK numbers could well exert selling pressure on sterling.
At 21:00 GMT:
EUR/USD is testing 1.37. If the pair closes above 1.36, the next target is 1.39, with support at 1.3445.
GBP/USD is meeting resistance at 1.53; a break of this will see the next stop at 1.55. Support at 1.50
USD/JPY is currently testing support around 90.50. The Forex Focus levels still apply.
GBP/USD is meeting resistance at 1.53; a break of this will see the next stop at 1.55. Support at 1.50
USD/JPY is currently testing support around 90.50. The Forex Focus levels still apply.
Please check our economic calendar for full details.
Live Trading Sessions
The next session will be on December 17th at 15:30 to 17:30 GMT. We will be trading the Colt FX pairs; and the Jam FX system; reviewing the Fed’s latest move 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 Check out the new low price in the ColtFX shop.
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. This week features two calls: one on EUR and the other on CHF
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.
16 December | 
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