Euro vs. Great British Pound (2011-12-13)

The pair violated the 0.8525 critical support which is the 76.4% Fibonacci correction for the bullish wave from 0.8354-0.9083, and this signals that the main descending channel is still controlling the pair's movement and more downside pressure is likely. Main target is at the 100% level around 0.8354, taking into consideration that breaching 0.8525 may delay acquiring the awaited target. The trading range for the day may be among the 0.8385 support and 0.8765 resistance.
The short term trend is to the downside targeting 122.00 so long as 150.00 remain intact.
Previous ReportWeekly ReportSupport0.84150.83850.83550.83000.8280Resistance0.84600.85250.86050.86350.8680RecommendationBased on the charts and explanations above we recommend selling the pair around 0.8525 targeting 0.8415,stop loss with four-hour closing above 0.8605 may be appropriate For more forex information, go to www.ecpulse.com Share

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 120.80; (P) 121.29; (R1) 121.88; More
GBP/JPY is still staying in range of 120.75/122./.56 and intraday bias remains neutral. Break of 120.75 will indicate that choppy recovery from 119.37 is finished will flip bias back to the downside for this support first. Break will confirm resumption of fall from 127.30 and should target a test on 116.96 low next. On the upside, above 122.56 will bring another rise to extend the recovery from 119.37. But we'd expect upside to be limited by 50% retracement of 127.30 to 119.37 at 123.33 and bring fall resumption eventually.
In the bigger picture, there is no sign of reversal in GBP/JPY as it's still staying well below the falling 55 weeks EMA (now at 127.67). The down trend from 2007 high of 251.09 is still expected to continue to 61.8% projection of 215.87 to 118.81 from 163.05 at 103.06, which is close to 100 psychological level. On the upside, break of 130.83 resistance is needed to be the first signal of medium term reversal. Otherwise, medium term outlook will remain bearish even in case of further rebound.


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Great British Pound (GBP) Technical Major Currencies (2011-12-13)

The consolidation continued around the initial support of 1.5590 where 23.6% Fibonacci retracement of the downside rally from 1.6615 to the former low of 1.5270. Actually, the negative daily closing below SMA20 & SMA50 combination is seen as a proof that Cable may clear the aforementioned important level. At the same time, Stochastic continues reflecting its bearish tendency; thus, we hold onto our bearish predictions over intraday basis, supported by the harmonic outlook over short term basis. A break of 1.5420 will accelerate declines towards 1.5270.
The trading range for today is among key support at 1.5375 and key resistance at 1.5820.
The general trend over short term basis is to the downside, targeting 1.4225 as far as areas of 1.6875 areas remain intact.
Previous Report Weekly Report
Harmonic short term outlookSupport1.55401.55101.54601.54201.5375Resistance1.56301.56801.57201.57801.5820RecommendationBased on the charts and explanations above our opinion is, selling the pair below 1.5590 targeting 1.5270 and stop loss above 1.5780 might be appropriate.


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Forex and Dow Jones recommended levels

EUR/USD

Today's support: - 1.3135(main), where correction is possible. Break would give 1.3116, where correction also may be. Then follows 1.3092. Break of the latter would result in 1.3064. If a strong impulse, we would see 1.3037. Continuation will give 1.3016 and 1.3004.
Today's resistance: - 1.3236 and 1.3273(main). Break would give 1.3314, where a correction is possible. Then goes 1.3338. Break of the latter would result in 1.3369. If a strong impulse, we'd see 1.3388. Continuation will give 1.3410.

USD/JPY

Today's support: - 77.68 and 77.43(main). Break would bring 77.13, where correction is possible. Then 76.92, where a correction may also happen. Break of the latter will give 76.73. If a strong impulse, we would see 76.50. Continuation would give 76.39.
Today's resistance: - 78.12, 78.47 and 78.72(main), where a correction may happen. Break would bring 78.96, where also a correction may be. Then 79.23. If a strong impulse, we would see 79.45. Continuation will give 79.64.

DOW JONES INDEX

Today's support: - 11930.20 and 11882.84(main), where a delay and correction may happen. Break of the latter will give 11846.25, where correction also can be. Then follows 11817.14. Be there a strong impulse, we shall see 11795.63. Continuation will bring 11768.20 and 11744.92.
Today's resistance: - 12153.14, 121223.11and 12240.00(main), where a delay and correction may happen. Break would bring 12256.88, where a correction may happen. Then follows 12273.30, where a delay and correction could also be. Be there a strong impulse, we'd see 12300.64. Continuation would bring 12323.34.

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Euro vulnerable following EU Summitt

Home » Forex 12 December 2011

The euro has started the week on the back foot versus other majors, dragged down by on-going talk of debt downgrades for Europe from Standard and Poor’s, despite the fact that the EU Summit reached a deal on Friday to tighten fiscal rules. The rating agency has yet to give its opinion on the deal and its comments are eagerly awaited. Many are treating the latest deal with caution, in particular given the UK’s opposition to it. According to a poll in the UK Times voters overwhelmingly back Prime Minister David Cameron for using his veto on the pact to toughen EU treaties without any new safeguards for London’s financial centre. As a result, the new fiscal rules will have to operate as an intergovernmental agreement instead of being enforced through a treaty change, which would need unanimous support. Ireland, however, may still require a referendum on the issue but the government is awaiting formal legal advice on this.

Market sentiment will continue to be driven by events in Europe, but the focus should turn to the US tomorrow with the Fed meeting to discuss US monetary policy for the last time this year. No policy changes are anticipated but markets will be watching the tone of its statement carefully. Meanwhile, markets will be looking to available US data for further confirmation that the economy is holding up reasonably well going into the year end. Data from the euro zone, however, are not expected to be uplifting. The release of the flash manufacturing and services PMIs for December should feature top of the agenda, with the data expected to show a further deterioration in activity levels. This should further cement the markets’ view that the region is back in recession. Meanwhile, the German ZEW index is also expected to fall again as the sovereign debt crisis continues to weigh.

Sending money abroad? Converting currency?

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Debt credit card: the effects and solutions

Copyright (c) 2008 Billy Alvaro
Today everyone is concerned about credit card debt, but in most cases they have no idea how to do something. In fact, for most people once they get into debt, have no idea how to get out again. In fact, for most people, it is much easier to borrow more, it is out of it, especially with credit cards. Of all of the debt in our society, the credit card debt is the leading cause of bankruptcy and plans for debt management.
The effects
How do I start? Unfortunately banks play an important role in credit card debt than many consumers are carriers. With low interest rates lucrative offers that expire after one year no annual fee for cards that have rewards of any circular links free miles cash, holders of these cards in a pressure to be able to enjoy a hurry offer many bonuses. The bond offering is the beginning of what would culminate in a financial disaster. Unfortunately, many of these offers are for new young high school graduates, students and recent university graduates who are not yet emotional maturity to understand the importance of having good credit, or even how to deal a credit card. With this lack of knowledge on the principles of credit cards is a future of financial chaos.
Unfortunately, many people do not realize the effects of credit card debt too until they are in so deep they do not see a way out. For many, the classic signs of having too much credit card debt of just being able to afford to make minimum payments are not highlighted as a problem. Only some time after the actual effects of the credit card debt excessive begin to materialize late payments, inability to pay even the minimum payments, credit lines or more lines of credit established and loan from the card to pay another credit card. Sometimes serious credit card debt apply for another loan with an upper limit and lower interest rates with the original intention of getting rid of the other cards and use the new card. Some may even take a consolidation loan and the balances are paid in credit cards, start using them again instead of getting rid of them. For some, the reality does not hit home until the Bill collectors are knocking at the door, judgments are made, and his attempt to borrow only to discover that your credit is severely damaged, you can even borrow some hundreds of dollars to buy some furniture.
The solution
Once you have put into serious financial problems with their credit cards, the next step is to design a plan to eliminate debt and get back on their feet. There are several plans that can be used depending on the severity of damage. Here are some solutions from one program to a debtor who has made the least damage and ending with the most severe cases.
* If you are one of the lucky ones who make the financial issues before it is completely out of hand, it is much easier to solve the problem. One of the easiest ways to pay your credit card debt if still in a credit card taken out relatively manageable with the lowest balance or highest interest rate if all balances are close in value and add some additional funds each month. Even if it's only $ 15.10, slightly above the minimum payment will reduce the balance faster. How then, if you pay an additional $ 15.10 per month? Here's how: when you pay off your credit card before you leave, all the money you paid into it, adding that the minimum payment on the balance or second card interest rates. In other words, if you had to pay a total of $ 50 per month on a credit card when you pay in full, add the same $ 50 to your payment by credit card 2. Continue this process until all your credit cards are paid in full and to refrain from the use of other than an extreme emergency (car or an appliance is not working, medical bills, medicines for disease), and is used in any If you are in the process of payment in full. If you have more than two cards, get rid of except those used exclusively for business.
* Another release, you can use a consolidation loan. Of course, in most cases you will need to own real estate to get a consolidation loan. This will give you a longer period and lower interest rates, but be careful if you use your home as collateral. When you have paid in full cards, cut or blocked until you repay the consolidation loan. Some people make the mistake of doing a debt consolidation loan, only to start using the cards and create again the same financial position that just evolved.
* Some card issuers have a program where low interest rates and payments, but if you have multiple cards, this program may not work well for you. If you miss a payment, the program becomes null and void, and will be back to where he was.
* Debt consolidation involves working with a management company debt in order to develop a payment schedule. They will work with your card issuer for a lower interest rate, and sometimes the removal of total interest rate, so that you can make a payment to the manager of the debt that will distribute payments its corporate credit card.
For those who have waited too long to do something about your situation, bankruptcy may be the only answer. It's a step you want to avoid as much as possible, so that unless there are extenuating circumstances, to recognize the extent of their financial situation before it's too late to work with your creditors .
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Credit Card Debt: The Effects and The Solution

Copyright (c) 2008 Billy Alvaro

Everyone today is worried about credit card debt, but in most cases, they don't have a clue how to do anything about it. In fact, for most people once they get into debt, they don't have a clue how to get out again. In fact, for most of the population, it's much easier to get into debt than it is to get out of it, especially with credit cards. Out of all the debt in our society, credit card debt is the major cause of bankruptcy and debt management plans.

The Effects

How does it begin? Unfortunately banks play a large role in the high credit card debt that many consumers are carrying. With lucrative offers of low interest rates that expire after a year with no annual fees to rewards card that have everything from free flyer miles to cash bonuses, cardholders snap these cards up in a hurry in order to be able to take advantage of the many bonus offers. The bonus offers are the beginning of what will later culminate into a financial disaster. Unfortunately, many of these offers are targeted at young people-new high school graduates, college students, and recent college graduates-who are not yet emotionally mature enough to understand the importance of having good credit or even how to handle a credit card. With this early lack of knowledge about credit cards comes a future of financial chaos.

Sadly, many people do not realize the effects of too much credit card debt until they are in so deep that they don't see a way out. For many, the most classic sign of having too much credit card debt-only being able to afford to make minimum payments-does not stand out as a problem. It isn't until sometime later that the real effects of excessive credit card debt begin to materialize-missed payments, inability to afford even minimum payments, credit lines at or above established credit lines, and borrowing from one card to pay payments on another card. Sometimes those in serious credit card debt will apply for another credit with a higher limit and lower interest rate with the original intention to get rid of the other cards and use the new card. Some may even take out a consolidation loan, and after the balances are paid on their credit cards, they start using them again instead of getting rid of them. For some the reality does not hit home until the bill collectors are knocking on the door, the judgments are issued, and they attempt to apply for a loan only to find that their credit is so severely damaged that they can't even borrow a few hundred dollars to buy some furniture.

The Solution

Once you have gotten into severe financial trouble with your credit cards, the next step is to devise a plan to eliminate the debt and get back on your feet. There are several plans you can utilize depending on the severity of the damage. Following are some solutions beginning with a program for the debtor who has done the least amount of damage and ending with the most severe cases.

* If you are one of the lucky ones who becomes aware of financial issues before it gets totally out of hand, it's much easier to solve the problem. One of the easiest ways to pay your credit card debt if you are still at a reasonably manageable level is to take the credit card with the lowest balance-or highest interest rate if all the balances are close in value-and add some extra funds each month. Even if it is only $10-15, anything above the minimum payment will help the balance reduce quicker. How so if you are only paying an extra $10-15 a month? Here's how: when you pay off that first credit card, take ALL of the money you were paying on it, and add that to the minimum payment on the second highest balance or interest rate card. In other words, if you were paying a total of $50 a month on Credit Card #1, when you pay it in full, add that same $50 to your payment on Credit Card #2. Follow this same process until all of your credit cards are paid in full and refrain from using them other than an extreme emergency (car or appliance not working, medical bill, medicine for illness), and do not under any circumstances use the one you are in the process of paying in full. If you have more than two cards, get rid of the except any used solely for business.

* Another outlet you may want to use is a consolidation loan. Of course, in most cases you will need to own real estate to obtain a consolidation loan. This will give you a longer term and lower interest rate, but you must be careful if you're using your home as collateral. When you have paid the cards in full, cut them up or lock them away until you finish paying off the consolidation loan. Some people make the mistake of obtaining a consolidation loan, only to begin using the cards again and create the same financial situation from which they just evolved.

* Some card issuers have a program where they will lower the interest rate and payments, but if you have several cards, this program may not work well for you. If you miss one payment, the program becomes null and void, and you are right back to where you were.

* Debt consolidation involves working with a debt management company in order to develop a repayment schedule. They will work with your card issuer to obtain a lower interest rate, and sometimes eliminating the interest rate totally, to allow you to make one payment to the debt management company that will distribute the payments to your credit card companies.

For those who waited too long to do something about their situation, bankruptcy may be the only answer. That is a step you want to avoid whenever possible, so unless you have extenuating circumstances, recognize the extent of your financial situation before it's too late to work with your creditors.


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