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Forex and Futures: RSI signal, Relative Strenght Index

RSI is a popular indicator commonly used to confirm price movement and help identify turning points in the market. It was created by Welles Wilder Jr. In general RSI is used either as an indicator of overbought or oversold market conditions in consolidating markets or to identify divergences at trend exhaustion. The RSI is a price-following oscillator that ranges between 0 and 100. A popular method of analyzing the RSI is to look for a divergence in which the currency price is making a new high, but the RSI is failing to surpass its previous high. This divergence is an indication of an impending reversal. When the RSI then turns down and falls below its most recent trough, it is said to have completed a "failure swing." The failure swing is considered a confirmation of the impending reversal in the price of the currency. RSI levels of 70% and 30% (80% and 20%) are known as overbought/oversold levels. Buy signal generated when the market is oversold, sell signal generated when...
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US mortgage giant Fannie Mae is to sell $7bn of shares to raise money to cushion itself against losses in sub-prime home loans. The additional capital will allow the company to "manage increased risk in the housing and credit markets". Fannie Mae, which finances or guarantees one of every five home loans in the United States, will also cut its dividend by 30%. This follows similar moves by smaller rival Freddie Mac. Fannie Mae last month reported a third-quarter loss of $1.4 bn. Bad times The company said that worsening housing and credit markets will hurt its fourth quarter and 2008 results. "Fannie Mae has a responsibility to serve the mortgage market in good times and in times like these," Daniel Mudd, Fannie Mae's chief executive officer, said in a statement. "The steps we are taking today are designed to enable us to meet that responsibility." Its sister firm Freddie Mac said last month it is to sell $6bn of shares to cover more bad debt losses. H...
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Mexico's Peso Ends Weaker At 10.9125/Dlr On Risk Aversion

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