My Credit Rating Guide

After breaking out to the upside on Friday, the Euro ended the US trading session approximately 50 pips away from its all-time high. So even though the European manufacturing PMI numbers were net disappointing with only Germany putting in a positive number to save face, the level of growth still remains stronger. This allowed the EUR to resume the uptrend directly and approach the 1.3681 level against the USD. The GBP pushed above the 2.0131 high and this keeps the medium term targets at 1.40-1.41 EUR/USD and 2.0505 GBP/USD well in-line to be met later this month before the August summer doldrums take us into a correction. Euro zone June PMI manufacturing was revised up to 55.6 from 55.4, which had already beaten expectations. However, both France and Italy reported declines, with Germany responsible for the overall increase. UK June house prices (Nationwide) rose a higher than expected 11.1% yr, up from 10.3% in May. This is the highest rate since January 2005, however house price growth is expected to slow later this year. UK June PMI manufacturing fell to 54.3 from 54.7. Export orders improved but overall new orders fell. Generally it seems that we are in the middle of a significant positive move of the EUR and GBP against the USD however we are already near records which might be breached. In contrast to the US dollar, traders were committed to buying the British pound today and nothing could stand in their way. Despite news that a burning car hit an airport terminal in Glasgow London this weekend and manufacturing conditions deteriorated in the UK, yesterday the GBP managed to hit a 26 year high. Part of that strength is certainly a result of dollar weakness since the GBP is down against the CHF, JPY and EUR, however the GBP would not be able to hit the highs that it did yesterday without a positive outlook for the near the future. Of all of the central banks meeting this week, the Bank of England is the only one that is expected to raise interest rates. With oil hovering near $70 a barrel, the world s concern for inflationary pressures will not be going away anytime soon. The interest rate curve is already pricing in 6 percent interest rates by the end of the year. debt consolidation and credit

JPY

Japanese earnings data decelerated in May. Ordinary earnings fell 0.6%yr in May, against a revised pace of -0.2%yr in April. Overtime earnings grew 1.1%yr, down from 1.5% in the prior month. Japanese Q2 Tankan was moderately better than expected. Large manufacturers business conditions were unchanged at +23. The large non manufacturing headline was also stable at +22. Small firms saw conditions deteriorate slightly, while medium sized non-manufacturers saw conditions improve. Labor shortages remain broadly evident. The Tankan based output gap remains positive, but resource pressures were reduced slightly in the quarter. Capex spending plans for FY07 were revised up across the board. The sales and profit projections may portray an impending accommodation of wage increases. We must notice that even though the JPY strengthened against the USD and GBP, carry trades are still playing a major part in the market and the aggressive reduction caused also since of the profit taking which is compared to an aftershock reaction in those pairs especially the USD/JPY. We might see a continuation of those the JPY tendency to strengthen however the reversal is waiting few steps a way. check credit rating

= Technical News EUR/USD

The daily chart implies another test of the 1.3678 which may determine a new record . On the 4 H chart a stamping is reflected which might eventually become a reversal. Slow Stochastic crossed at 91 and Momentum at 101.324 with a negative divergence implying a clear bearish trend which is due to be establish. Going Long seems risky at this point. improve credit rating

GBP/USD

A 25 year record was broken yesterday and the 4H chart reflects more room to go . There are no signs for a reversal yet, however those will be shown when this aggressive bullish trend will be out of steam. Our opinion is that this reversal will take place in the next 8-12 hours and then we expect this pair to test 2.0063. USD/JPY The 4 H chart implies the end of the bearish trend and the reversal signal has already appeared so we expect this pair to test the 122.70.. credit online rating report

USD/CHF

A reversal has taken place over the last 12 hours in the pair after the 4H charts provided signals as such. We expect the down-move to continue but only after a correction takes place. Look for 1.2150 to be tested in the next 24 hours. = The Wild Card GOLD After a 4 day uptrend, GOLD prices have been moving sideways. Forex traders may find themselves looking for a direction but without momentum, this will be difficult. Look for a clear reversal signal to support a downward move towards 650. credit score rating scale

Resistance 1.3709 2.0268 124.00 1.2249 0.8657 0.6836 1.3678 2.0237 123.21 1.2219 0.8629 0.6804 1.3651 2.0209 122.72 1.2191 0.8604 0.6785 Support 1.3592 2.0151 122.03 1.2131 0.8539 0.6707 1.3564 2.0123 121.89 1.2098 0.8500 0.6683 1.3532 1.9992 121.60 1.2057 0.8473 0.6648 = Economic News USD Yesterday, the greenback continued on its downhill slide as further weak US data releases only exacerbated the recent vigorous dollar sell-off. The US Factory Orders figure released in negative territory at -0.5 %. Although this number beat the expected figure of -0.9 % it was still significantly lower than last month s figure of 0.5 %. Also the Pending Home Sales figure came in lower than expected at -3.5%. On the back of this negative news the US currency dipped to 1.3633 against the EUR before settling back to the 1.3603 level and remains within sight of a record low as investors are awaiting any hint from the ECB of when a future rate hike will occur. The greenback also continued to range trade at 26-year-lows against the sterling dipping to the 2.0195 level and then stabilizing at 2.0166. The dollar weakening versus the GBP can also be attributed to expectations that the Bank of England will raise its key interest rate on Thursday to 5.75 %. The potential increasing interest rate and growth differentials between the US and Europe is putting significant pressure on the dollar. Also, a major driver of the dollar weakness are concerns about the subprime mortgage market as a slowdown in the housing market could leave the Fed with little option but to cut the interest rate. Today, the US financial markets will be closed because of the Independence Day Holiday so there will be low liquidity during the New York session and the USD should continue to range trade at its low levels as all key market players will exercise caution ahead of Thursday s interest rate statements. After the announcement of these statements we may see the dollar begin to find some reprieve as attention will turn back to establishing when the Fed is likely to start adopting a softer stance for its monetary policy. bad card credit credit people

EUR

Yesterday, the European currency extended its gains against the dollar while remaining relatively stable against the rest of the majors. The bullish run of the EUR against the greenback can be mainly attributed to weak US data releases and the expectation of a European rate hike in September. The only significant data that came out of the Eurozone yesterday was the PPI that came out inline with expectations at 0.3% and the unemployment rate released at a slightly better than expected figure of 7.0 % which further helped boost the EUR. free credit rating report

A mild bearish channel is forming On the 4 Hour chart with 116.67 as a support barrier which is going to be tested, probably today. In case of a breach the pair might be in its way to 116.23. Going long might be preferable after the reversal will take place. USD/CHF The pair is in the middle of a very intense up trend, which was initiated after a breach through the 1.2000 level has occurred. The slow stochastic shows an overbought status which indicates that a correction might occur before the uptrend continues. Target price appears to be 1.2220. credit rating scale

= The Wild Card Gold

There has been a bearish flag forming on the 4 Hour chart, indicating that the momentum is still down. The RSI is floating around 50, which supports the notion that there is still plenty of room to run. This provides forex traders with a great opportunity to go short on a very solid downtrend. = Indicators bad credit rating

1.3560 2.0130 118.45 1.2325 0.8390 0.6800 1.3463 1.9920 117.17 1.2220 0.8240 0.6780 Support 1.3400 1.9762 115.60 1.2110 0.8000 0.6755 1.3373 1.9730 115.28 1.2055 0.7970 0.6720 1.3277 1.9662 115.00 1.1980 0.7945 0.6708 = Economic News USD Yesterday, the USD extended its gains across the board after a string of positive US economic data. The US Core CPI data released inline with expectations at 0.2% and overall remained unchanged since last month. The Empire State Business Conditions Index released at 25.1, surprisingly beating the expected figure of 18, which gives a strong indication that future reports on manufacturing in the US are also likely to support the USD s rise. Housing and credit concerns are still here and the crisis hasn t been resolved yet. In order to make cash available, central banks worldwide have pumped billions in funds to banks over the past week, but along with this, Federal Reserve officials are insisting that there are no signs that the subprime issue is harming the broader economy and an interest-rate cut is not yet needed despite the fact that the fund injection could be compared to an interest rate cut from the perspective of the market. On the back of these positive sentiments, the US currency hiked to 1.3400 against the EUR. There is no real market moving news to be released from the US markets today. The news coming out of the US will be the Housing Starts and Building Permits figures and since there are no particular expectations, these indicators will likely generate little interest. Consumer Sentiment Index is the only news release expected from USD for the rest of the week. The core figure is expected to release at 88.5 which is a slight drop from last month s figure 90.4. Therefore, it will be crucial for traders to identify how the preceding economic indicators from Europe and the UK will affect the greenback. credit rating agency

EUR

Yesterday, the majority of news releases from the Euro zone came out quite negative. The GBP Average Earnings Index figure released at 3.3%, slightly lower than the expected figure of 3.5%. This negative momentum was further exacerbated by the weaker than expected GBP Claimant Count Change. This index measures the change in the number of people claiming unemployment related benefits over the previous month. A falling trend has a positive effect on the nation s currency. The figure released in negative territory at -8.5K. This number didn t beat the expected figure of -9.8K, it was still significantly lower than last month s figure of -14.1K. credit rating canada

Analysts continue to assert that a EUR interest rate hike is expected despite the fund injections that occurred in the Euro zone. Today the most significant news coming out of the Euro zone will be the England s Retail Sales. The figure is expected to release at 0.1%, which is 50% below the previous month s figure which might strengthen the negative momentum which the GBP is suffering from. JPY bad credit mortgage rating

Yesterday, the JPY rose to a 4 month high against the EUR and the USD. The Japanese Yen has enjoyed a sustained bullish run as results of the carry trade unwind which was driven by increased risk aversion. The Yen rose 0.8% to 154.99 per EUR and gained to 115.68 per USD. Yesterday s U.S stock losses sparked speculations that the biggest mortgage lender in the U.S. may be forced into bankruptcy. Rising risk aversion caused investors to liquidate risky positions and triggered carry trades to unwind, thus the yen gained some momentum. The persistent problems in the US sub-prime mortgage market, coupled with further reports of hedge fund worries are fuelling the risk aversion sentiment, therefore we may expect the JPY to strengthen all across the board in the coming days. good credit rating

= Technical News EUR/USD

The 4 hour chart implies an upcoming bullish trend with Momentum (98.6285) having a positive slope and a slow stochastic which crossed at 13. The correction will try to test the 1.3483 Fibonacci 38.2% retracement level. Going long seems like the preferable strategy today. GBP/USD The 4 hour chart notes that a tight bearish channel is forming and traders should seek the breakout to get into the market at a good entry point for a long position. However the daily chart indicates a breakout of the bullish channel, supporting the fact that the GBP depreciation would be maintained in the long term. credit score rating chart

USD/JPY

The 4 hour chart implies that a tight channel is about to form which has an extreme negative slope, and a breakout is expected. A breakout will probably send this pair to test the 117.04 Fibonacci 23.6%. If a breach of the upper barrier will take place we expect a mild bullish channel and therefore going long seems preferable. USD/CHF A reversal is forming on the 4 hour chart as the slow stochastic crossed already twice above 80 and this notion is also supported by the RSI which is clearly in the overbought area for a couple of days already. If this development is also supported by a cross of the MACD it seems like a preferable strategy is to enter into a short position. credit mortgage rating poor

= The Wild Card Crude Oil

On the 4 hour chart we can see that a channel with positive slope has been formed with an upper level which could be breached at the 74.32 (50%) Fibonacci level. If this break out takes place we could expect an incline up to the 75.22 Fibonacci level (61.8%). On the 15 minutes chart the formation of a negative wedge is about to be completed, increasing the possibility of an upcoming breakout at 74.32. Forex traders may prefer to enter into a long position when the right signal will be shown. good credit rating score

= Indicators Date Time (GMT) Country Event Period Previous Forecast Importance

16/08/2007 8:30 GBP Retail Sales m/m m/m 0.2% 0.1% *** 16/08/2007 12:30 USD Housing Starts 1.47M ** 16/08/2007 12:30 USD Building Permits 1.41M *** 16/08/2007 12:30 CAD Foreign Securities Purchases -3.11B 1.20B ** 16/08/2007 4:00pm USD Philadelphia Fed Manufacturing Index 9.2 9.0 ** 2006 by FxYard Ltd poor credit rating loan

On the 4 H chart we notice that the bearish trend is running ahead. The volatility decreases and the pair is in a consolidation after it has broken the 166.70 support level. The price should continue to move downwards in a range of 167.10 to 166.20. As it seems, the bearish pressure will continue to gather momentum in the Forex market also today. The long term target is 164.00. bank credit rating

= Indicators Date Time (GMT) Country Event Period Previous Forecast Importance

07/24/2007 08:30 JPY BOJ Governor Fukui Speaks ** 07/24/2007 09:00 EUR Manufacturing PMI 55.6 55.5 * 07/24/2007 09:00 EUR Italian Retail Sales m/m -0.4% 1.0% * 07/24/2007 09:00 EUR Current Account -4.0B 0.0B * 07/24/2007 11:00 GBP CBI Industrial Trends Orders 8 7 ** 07/24/2007 13:30 CAD Retail Sales m/m 0.4% 0.5% ** credit card for poor credit

1.3867 2.0670 120.85 1.2095 0.8920 0.6760 1.3845 2.0630 120.60 1.2080 0.8895 0.6728 Support 1.3800 2.0580 120.00 1.2010 0.8838 0.6835 1.3772 2.0550 119.73 1.2000 0.8800 0.6800 1.3745 2.0532 119.45 1.1985 0.8785 0.6775 = Economic News USD Yesterday the USD continued to range trade in bearish terrain against the EUR and the Sterling on a day which was light on US news releases. However the greenback experienced some strong volatility against the CAD on the back of the release of Canadian Retail Sales which soared to 2.8 % in May, beating the expected figure of 0.5 % and thus posting the largest monthly gain in just under a decade. Also the Core figure came in at 2.3 %, beating the expected figure of 0.6 %. The dollar slipped to a thirty year low against the CAD as the unexpectedly strong retail sales figures triggered expectations that the Bank of Canada will be hawkish with regards to its future monetary policy. Investors have been expecting the Bank of Canada to hike the interest rate in September but yesterdays retail sales figures has got investors believing that we will see rate hikes even beyond that point. However the dollar freefall against the CAD can also be attributed to the US economy s worsening credit woes coupled with problems in the housing sector, which are the main factors responsible for the underlying weakness in the USD. To make matters worse for the troubled US housing sector it was reported yesterday that the largest US mortgage lender, which is a company called Countrywide Financial Corp., cut its full year earnings projection and reported a 33 % drop in its second quarter profits. Looking ahead to today, the most significant news to be released from the US will be the Existing Home Sales figure which is expected to release significantly lower than last months figure of 5.99 M at 5.87 M. It is also very important for traders to watch the US stock market closely today because if the Existing Home Sales figure releases weaker than expected this may cause the equity markets to panic and therefore there will be potential for a carry trade unwind. Should a carry trade unwind occur it will cause the greenback to appreciate against the higher yielding currencies even though it is currently under a lot of pressure. On the other hand the carry trade unwind will cause the dollar to weaken significantly against the JPY. However in the longer term the USD should weaken against the higher yielding currencies as US Core inflation is likely to continue to trend down and the recession in the housing market will bear a significant impact on future US GDP figures. Also the weak dollar is in the Fed s interests as it is boosting exports and thereby strengthening the US economy business credit rating

EUR

Yesterday, there was a string of soft Eurozone data releases which indicated to the market that some cracks are beginning to appear in the resilient European economy. The Manufacturing PMI figure came in at 54.8 which was below the forecasted figure of 55.5. However the most disappointing data to be released yesterday was the Eurozone Current Account which released in negative territory at -8.6 B which was well below the expected figure of 0.0 B. Therefore the EUR had a rather mixed trading session yesterday as it reached a new record high against the greenback during the US trading session peaking at the 1.3850 mark but it was unable to stay at this level on the back of the weak Eurozone news releases. moodys credit rating

Today there are no news events to be released from the European market and as a result of the important US Existing Home Sales release any sharp EUR movements will be pegged to the USD. Also it seems that the bullish EUR surge is unlikely to subside in the near future as there are no indications that the strong EUR is having a negative impact on European exports and there are no concerns that the ECB will proceed in the future with an active currency policy as this will conflict with their main goal of ensuring price stability. credit card with bad credit

JPY

The JPY strengthened all across the board yesterday particularly against the AUD and the NZD. There was a strong sell-off of all the JPY crosses except for the CAD/JPY as a result of the unexpectedly positive Canadian Retail Sales figures. The main reason for the JPY strength is the unwinding of carry trades which continued through to today s Asian trading session. Weakness in the US and Asian equity markets is causing risk reduction and as long as risk aversion remains at high levels the JPY crosses will continue to sell off. Also today s release of the US Existing Home Sales figure may cause US equity markets to panic if the figure is weak thereby causing further carry trade unwinding. personal credit rating

Earlier today during the Asian trading session the Japanese Trade Surplus released at 1.82 T which was below the forecasted figure of 1.85 T but it did not have any negative impact on the powerful JPY surge. The JPY has been extending its gains for a fourth straight day against the USD and the EUR making it its longest rally this year. With carry trades no longer the name of the game we should see the JPY continue on its upward trend today. unsecured loan for bad credit

= Technical News EUR/USD

A bullish channel is establishing on the 4 Hour chart and the pair is expected to breach the 1.3840 and to test the 1.3900 today. A long term upward channel is establishing and it is more likely that the next breakout will be up, however if a breakout will not take place, the next move might be bearish since a 3 waves pattern on the daily chart is established and may take the pair to 1.3530 - 1.3600 soon. credit rating company

GBP/USD

On the Daily a brief spike is forming through the support line, the GBP is showing signs of reversing. The slow stochastic is crossing above 90 indicating that we might see a reversal soon. The 4 Hour chart is also leaning towards a reversal. USD/JPY The USD/JPY broke the 120.05 support and immediately rebounded. USD/JPY is in a downtrend supported by 1 Hour exponential moving averages. The volatility is low, and the Bollinger bands have tightened. We should expect to see a bearish configuration. The 4H Elliott pattern implies that the USDJPY will continue to gather momentum. canadian credit rating

USD/CHF

The USD/CHF is in a bearish configuration. The volatility has decreased. The pair moves without trend and swings around exponential moving average (EMA 50 and 100). The Bollinger bands have tightened and the 4H Elliott pattern implies a continuation of the bearish pressure. = The Wild Card Silver There is an upcoming reversal which Forex traders might use for profit taking in the upcoming days. On the daily chart, the 5 Eliot waves pattern is shown and the A B C wave s formation might bring this pair to 13.00 however it might touch 13.40 first. credit union rating

The pair is in stable consolidation around 1.4120 and as the Bollinger bands are getting tighter the next move is getting closer. There is a bearish cross forming on the 4 Hour chart, indicating that the next break will probably be bearish. The daily charts are quite neutral, as traders should look for entry point on the hourly level. corporate credit rating

GBP/USD

The cable is in the midst of a moderate uptrend which seems to be in a halt. The hourly charts are giving no distinct signals, and the dailies are floating on neutral ground. It would be preferable to stay out for the moment and wait for a clear signal on the 4 Hour chart be fore placing an order. USD/JPY There is a solid channel forming on the 4 Hour chart as the pair now floats on the bottom barrier. The slow stochastic and RSI are showing that the bullish momentum is still strong, and that the next target price might be 117.80. credit rating fix

USD/CHF

The pair is still in the middle of the correction move initiated in 1.1620 and it appears to continue with full steam. The daily slow stochastic is signaling that there is still more room to run. The hourlies are supporting the bullish notion as the RSI is floating around the 50 area, which means that the trend is nowhere near over. The next target price might be 1.1840. bad credit loan personal

= The Wild Card Crude Oil

There has been a bearish breach through the bottom barrier of the upwards channel. The breach indicates that the correction move will be equal to the channel s width. The oil has completed the correction move, and the daily study show that the main uptrend will probably resume shortly. This is a great opportunity for Forex traders to jump back onto the uptrend at a relatively low price. credit how improve quickly

Resistance 1.4150 2.0430 118.50 1.1950 0.9130 0.7000 1.4100 2.0400 118.20 1.1920 0.9080 0.6970 1.4070 2.0370 117.80 1.1880 0.9050 0.6940 Support 1.4000 2.0300 116.80 1.1820 0.8980 0.6880 1.3970 2.0280 116.50 1.1780 0.8950 0.6850 1.3950 2.0250 116.00 1.1750 0.8910 0.6800 = Economic News USD A delayed reaction to Friday s non-farm payrolls report as well as the market s expectation for today s FOMC minutes, has taken the US dollar higher against every major currency today. Today s FOMC minutes will conclude the September 18th monetary policy meeting, where the U.S central bank lowered both the Fed funds and discount rate by 0.5% each. The credit market has relatively stabilized since the rate cut and there have been no new outbursts in the financial sector. After the last appreciation of the USD, the FED is not likely to cut rates again. We need to remember that weak USD fuels growth in the U.S economy. In fact, recent economic data including non-farm payrolls could give the Fed the luxury of waiting until December before lowering interest rates again. Towards the end of the week, our focus will turn to trade, inflation and consumer spending. The weakness of the US dollar should help to narrow the trade deficit while boosting inflation. Consumer spending is the biggest potential market mover this week (it is not due out until Friday). The strength of payrolls in September and the upward revision to retail sales in August suggest that retail sales could be stronger than the market is currently expecting. Overall, it seems to be shaping up to be a dollar positive week. fico credit rating

EUR

The Euro is slipping back towards 1.40 on the back of a smaller than expected rise in German factory orders as well as mixed commentary from ECB and IMF officials. Despite the German Economics Minister s comment that he is not losing sleep over the current level of the EUR this morning, recent economic data indicates that as much as some officials may try to deny it, the strength of the currency is indeed having an impact on the economy. French calls for central bank intervention to cut the costs borne by European exports failed to sway Germany s finance minister, Peer Steinbr ck, who insisted publicly Monday that he loved a strong euro. But before a meeting of finance ministers from the 13 countries that use the EUR, Pedro Solbes of Spain underlined concerns about recent volatility that are shared across much of southern Europe. After saying that exchange rates should reflect economic fundamentals, he insisted that efforts to correct the EUR/USD relationship should not only be made by the Europeans, but by all the parties concerned, according to news agencies. Buffeted by the impact of the subprime mortgage crisis in the United States and facing a projected economic slowdown, concern is growing that Europe is paying the price for problems created elsewhere especially in the U.S. EU ministers are expected to agree today to move ahead next year with a study that could lead to requirements for more disclosure of debt-default risks, as well as revisions on how assets valued. The proposed changes were suggested at an informal meeting of finance ministers in Porto, Portugal, last month following the losses in the U.S. subprime mortgage market. Nevertheless, pressure is growing and the employers federation BusinessEurope last week complained about the effect on exporters of the euro s high rate against the yen. It added that by crossing $1.40, the euro exchange rate had reached a pain threshold for European companies which are seeking a way to minimize their losses . Even in Germany, where a strong currency is seen as a sign of political and economic success, the economics minister, Michael Glos, expressed a sharply different view to that of Steinbr ck. The weaker USD is making us very worried, he said Monday after a speech before the International Iron Steel Institute in Berlin, especially if it grows weaker still. improving credit rating

JPY

The Japanese market was closed for a public holiday in Japan yesterday, so there was no economic data released. Today we have the Eco Watchers index but it is not expected to be market mover. The big event this week is the BoE interest rate decision, yet even that may not cause any significant movements in the JPY since there is only a 3 percent change for a quarter point rate hike. Should the stock market resume its rise, we could see fresh gains in carry trades. The dollar could extend its gains against the JPY given the bullishness of last week s non-farm payrolls release when carry trades seemed like an attractive long term investment. mortgage credit rating

Bollinger bands are widened on the daily chart suggesting increased volatility. The daily chart is bearish while the hourlies are bullish. So the preferred strategy may be to go short on 4 hour highs. average credit rating

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