The best way to fix bad credit is to be pro-active in removing negative account reports and adding positive account reports to your credit report. Both of these processes can take some time. The time to start fixing your bad credit is now, not on the day you are ready to apply for a loan. Depending on how bad your credit is, it can take as little as 1 or 2 months to fix and as much as 12 months to fix. Here are the steps to fixing your credit:

1. You want to know exactly where you stand. You will need to pull your credit reports and know your credit scores. You can get a copy of your credit reports for free once every year, but it will cost you a little bit to know your scores (unless a banker or mortgage broker is willing to give you a copy for your credit report for free after applying for a loan).

2. Once you know where you stand, you will need to analyze your credit reports and find out what’s helping and what’s hurting your scores. It may take awhile, but it’s worth learning how to read a credit report. Once you figure out what’s hurting your credit, you will need to make a plan of attack to get those accounts removed from your credit report as fast as possible. You can do that by disputing accounts with the credit bureaus, sending debt validation letters, negotiating with creditors and many other ways.

3. When you make a dispute with the credit bureaus, the burden of proof is on them. All you need to say is something along the lines of “Please provide documentation that the following accounts belong on my credit report; otherwise please delete this damaging data immediately." It is then up to the credit bureaus to contact the creditors to verify that all of the information they are reporting about you is correct. Fortunately for you, most creditors keep horrible records and cannot verify that the accounts even belong to you. In this case, by law, the accounts must be deleted immediately.

4. Disputing is one of the best ways to get accounts removed from your credit report but there are so many other ways to fix your credit. You should also be trying to add positive accounts. I would suggest applying for a few secured credit cards or visiting your local credit union or bank and asking them if they have a credit card with a low limit that can help you rebuild your credit.

There are many other ways to build credit. Make sure to always ask if what you apply for will appear on your credit reports. If you can find a card that reports to all 3 credit bureaus, that's even better.

And in addition try to visit this site, www.repairmycreditnow.com for more information. This site gives you sufficient information on how to fix your credit. They offer step by step information and they have superb customer support.

Fundamental Outlook for US Dollar: Bullish

- US marks the biggest drop in payrolls since 1974
- NBER confirms the domestic economy has been in a recession since December 2007
- Record lows for manufacturing and service sector activity last month point to a deepening recession

It’s difficult to assign the US dollar a bullish fundamental bias considering the acceleration of the economy’s recession and the fact that American markets are the epicenter to a global financial crisis; but regular economics do not apply in times like these. In normal market conditions, expected returns hang in a delicate balance with a general tolerance for risk. When yield income – valued through assets in a specific country – drops relative to its international equals, that currency depreciates against its counterparts. This sums up capital flows, carry interest and fundamental speculation in interest rates. However, the setting for the markets is clearly far from normal – just look at the advance in the US dollar last week immediately following the report of a 533,000-person drop in national payrolls. Normal market theory has been thrown out the window as investors are no longer concerned about the potential for return. With volatility holding at levels many times greater than what it was just a year or two ago and global economies sliding into a grim recession, large investors and fund managers are merely looking for a place that their accounts won’t shrink. With time we have seen that that place is US Treasuries. Surely, the market must be desperate for a safe haven with three-month T-bills yielding little more than one basis point and two-year T-notes are paying out 0.9 percent per year. In fact, the entire yield curve is at record lows.

How long can a market go against such a basic law of market theory? That depends on speculators. As long risk sentiment holds as the dominant trend across all asset classes and all markets, caution will keep capital flowing towards safe havens. However, that is not to say that the US will always be the currency that panicked traders will turn to. Massive bailout efforts, rate cuts and stimulus packages have offered a sense of stability for the world’s largest economy; but this combined endeavor cannot prevent a recession or even a natural bear market. And, when financial conditions worsen and the economy continues its slide, policy makers will find they have few options left to curb the pain on a national level. Since US officials have been the most aggressive in their efforts, they could reach their limit first; and then the sanctity of US government debt will come into question. There are other countries that are less liquid but are experiencing better stability. As the global recession and financial crisis deepen, these alternatives will grow more and more appealing.

Characteristic of a primary fundamental theme, a shift in this market driver will not change over night - but will happen gradually. The calendar for the week ahead will help steer the bigger trend. Dollar traders have no doubt already priced in a recession; but how severe and lengthy of a contraction have they accounted for? A few growth-related indicators will test this. Pending home sales will gauge the ongoing housing market recession while the trade balance will reveal how effective a cheaper dollar is at drawing less international demand. The consumer will be the more important focus with retail sales for November accounting for the build up in spending trends into the holiday season while consumer sentiment will guide speculation for it going forward. Also thematic is inflation. Though factory and import-level price gauges are usually second tier readings, an expected plunge in annual readings would spell deflation which the Fed has little to no chance at fighting. This will be important considering the FOMC will decide rates on the following Tuesday.

The greenback fell against the majors at the start of the week, tumbling just shy of the 1.29-level against the euro and dropping toward 1.5176 versus the sterling. The US equity market extended Friday’s gains with the Dow Jones up by over 3.6% and the Nasdaq advancing by more than 4% by afternoon trading amid a bailout plan to inject $20 billion into Citigroup and guarantee over $300 billion in toxic assets.

The housing market continues to struggle with existing home sales in October posting a 3.1% decline to 4.98 million units, down from 5.18 million units a month earlier. Several key reports are due out on Tuesday including Q3 preliminary GDP, Q3 PCE, September Case-Shiller home prices, November consumer confidence, and the Richmond Fed survey. The US economy is estimated to have contracted by 0.5% in Q3 while the Conference Board’s consumer confidence survey is estimated to slip to 37.9.


Euro Rallies, Shrugs off Dismal Data
Economic conditions in the Eurozone remain bleak with data from Germany revealing further deterioration. Germany’s October Ifo sentiment survey plunged by more than expected to its lowest level in nearly 16-years at 85.8 versus calls for a slide to 88.7 from 90.2 a month earlier. The expectations component tumbled to 77.6 from 81.4 while the current conditions index fell to 94.8 from 99.9 a month earlier. The drop in the Ifo sentiment survey was its sixth consecutive monthly decline and underscores the dour outlook for the Eurozone’s largest economy. Ifo President Sinn said, “The economic downturn has hardened and will now also affect the labor market”. With Germany’s economy already in recession, the latest data raises fears of a deep and prolonged recession and will likely prompt the ECB to ease rates aggressively at the coming meetings.

Looking at the retracement analysis on the EUR/USD from the 11/05 high to the 11/13 low, we see that the pair was unable to fully retrace the early November highs. Although the move north might not be complete for the pair ahead of year end, we will be watching the full retracement level (~1.3114) as short-term resistance. We will also be watching the converging moving averages to provide support as they move higher with the pair.

The euro / dollar could still drop below 1.2330 in order to complete a 5th wave within a 5 wave decline from 1.6040 as an ending diagonal (not likely at this point). It is just as probable however that the pair pushes through 1.3302 in a larger recovery from 1.2330. Fibonacci resistance would begin at 1.36. Bottom line; the EURUSD remains in a range, so trade accordingly.

here's the chart

Pair: EUR/USD
Position: BUY
Entry Price: 1.3065
Target Price: 1.3155 (+95 PIPS)
Stop Loss: 1.2865 (-200 PIPS)
Remarks: To Be Posted Later

EUR/USD continued its upward trend for the past few days, especially during the last hours of trading for the day. It broke its 1.30 mark, and still going strong in an uptrend. And as I was saying yesterday, the EUR/USD will have a small correction, and it happened at around 100 pips more or less before it went straight up again.

Time: 0600H Phil Time (GMT +8)
Pair: EUR/USD
Position: BUY
Entry Price: 1.2908
Target Price: 1.2980 (+72 PIPS)
Stop Loss: 1.2807 (-100 PIPS)
Remarks: Target Hit (+72 pips)


Euro has made a massive uptrend in the last 12 hours, from its lowest for the day of 1.25262 to a sudden spike to 1.2932. there's a big possibility of a major correction coming but I my calculation suggests that it will continue up to tomorrow before the US market opens. So I grab the strong uptrend for a small 70 pips.. Let's see later on!