Client News Release
Timing Your Exits with Fibonacci Extensions (Daily FX) and Exchange rate and competition worries hit St. Jude (AP)
City of Industry, CA --(www.FinancialNewsUSA.com)-- 11/20/2008 - Currencies industry news provided by Financial News USA (OTC: FNWU). Fibonacci studies are an excellent tool for a forex trader to use because they can act as a leading indicator. If used properly, the can help you to determine when to get into a trade. More importantly, they can help you get out of a trade too.Fib Studies do not tell you if the market is going to go up or down. You need to use lagging indications, such as moving averages, for that. However, once you have established a bullish or bearish bias, you can use Fibonacci retracements to get into a trade when price is pulling back.
The best thing about a Fibonacci study is that once you have measured a retracement and entered a trade, you will also have an estimate of how far price will extend before the next pull back. This "educated guess" is a measure of the frequency of the market's harmonics. It's a lot like sound waves.
Figure 1. Examples of sound waves.
If you could SEE sound, it would look like waves.& [Read the full article]
NEW YORK (AP) -- Shares of St. Jude Medical Inc. declined Wednesday as analysts turned their attention to potential challenges to the medical device maker's profits, including foreign exchange rates and growing competition.
In a client note, Credit Suisse analyst Kristen Stewart she feels 2009 "is likely to be very challenging" because of renewed strength in the dollar and other issues. Jefferies analyst Peter Bye said the stock won't trade much higher than its current price in the next year because there are many potential risks to St. Jude's long-term growth goals.She also saw negative signs in the U.S. market for implantable heart devices. If sales of those products are weak, she said, it will be hard for St. Jude to post solid growth.A strong dollar can lead to reduced revenue for companies that have large amounts of overseas sales. [Read the full article]
The clock is ticking for a short-term AUDCAD range. For the past few weeks, the pair has worked itself into a very clear and concise range that would be a range traders dream.
Why Would AUDCAD Stay in a Range? · Levels to Watch:-Range Top: 0.8135 (Trend, Fibs, SMA)-Range Bottom: 0.6350 (Trend, Fib) · The outlook for growth and interest rates between the Australian and Canadian dollars has found a temporary level of equality. This is perhaps the reason why an otherwise volatile pair has been able to produce such a consistent technical range. However, speculation rarely remains steady for long. [Read the full article]
The British pound gained throughout much of the morning to reach an intraday high of 1.5249, but subsequently fell back below 1.50 as UK interest rate expectations remain in favor of GBP/USD weakness.The earlier gains in the pair were surprising given the contents of the Bank of England's Monetary Policy Committee meeting minutes from November, which were released at 4:30 ET. The MPC was quite bearish on prospects for the UK economy and financial markets, while they also noted the projections from their latest Inflation Report, which showed CPI falling sharply in the near-term and below the BOE's 2.0 percent target in 2009. The part that was most surprising, though, was that the MPC discussed cutting rates by more than 200bps before voting unanimously to reduce the Bank Rate by 150bps to a 53-year low of 3.00 percent. [Read the full article]
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