Guest forexpros Posted January 4, 2010 Share Posted January 4, 2010 Forexpros Daily Analysis Jan 4, 2010 Free webinar on Forexpros - Identifying Low Risk, High Reward, and High Probability Trading Opportunities For Short Term Forex Traders. Expert: Sam Seiden When: Thu, Jan 7, 2010, 12:00 EST During this session, we will apply what we learned during session one to the world of active short term trading in the Forex markets. We will walk through the trade selection process, applying our rule based strategy to identify price levels where demand and supply are out of balance and where profit margins are large offering us significant risk/reward opportunities. This webinar is the second of a three part series brought to you by Online Trading Academy and Forexpros. Click here to join free. --- Fundamental Analysis: German Unemployment Change The EUR will be affected by the publication of the German Unemployment Change tomorrow (Jan 5). The German Unemployment Change measures the change in the number of unemployed people in Germany. A rise trend indicates weakness in the labor market and has a negative affect on consumer spending and therefore on the economic growth. A higher than expected reading should be taken as negative/bearish for the EUR, while lower than expected reading should be taken as positive/bullish for the EUR. Analysts predict a reading of 7.00K, up from the previous 6.00K. --- Euro Dollar As we have expected, the Euro tested the important 1.4449, stopping 10 pips below it, and started a drop that broke the support specified in Thursday’s report 1.4391, and reached both suggested targets 1.4330 & 1.4264 successfully. Stopping only 8 pips below 1.4264 before bouncing back to 1.43 assures its importance, and we will consider it support of the day, and the borderline between a continuation of the drop from 1.4439, or a bounce to the upside. If this important support is taken, we expect the Euro to drop on the first trading day of the New Year towards 1.4176 & 1.4103. But if it holds, a test of short term resistance 1.4308 will follow, and breaking it would lead to a correction of Thursday’s big fall, ideally targeting 1.4369, and if broken we will jump to 1.4424-1.4456, a resistance area that is full of short term resistance levels. Support: • 1.4264: Dec 21st low. • 1.4176: Sep 1st low. • 1.4103: Aug 10th low. Resistance: • 1.4308: intraday top. • 1.4369: short term Fibonacci 61.8%. • 1.4424-1.4456: a resistance area that is full of important levels for short term. --- USD/JPY The Dollar-Yen broke the resistance specified in the last report of last year 92.50, and successfully reached the suggested target 93.08 with astonishing accuracy (Thursday’s high was 93.09). Short-term resistance is provided by this level. And if this area is broken, the Dollar will take off, towards March 19th low 93.53 and then 94.05. This uptrend is protected by the rising trend line from 84.81 which is currently at 91.54 and the SMA100 as well. On the other hand, if the price fails to break of 93.08, a drop towards short-term support 92.35 will follow. And if broken, we will target 91.54 where there is the rising trend line from 84.81. And if this level is broken, the price will drop towards the important 90.51, the most important support for the time being. Support: • 92.35: Fibonacci 61.8% for the short term. • 91.54: the rising trend line from 84.81. • 90.51: Fibonacci 61.8% for the whole move from 88.91 to 93.09. Resistance: • 93.08: Thursday’s high. • 93.53: Mar 19h low. • 94.05: Aug 28th low. --- Forex trading by Munther Marji for Forexpros. See Forexpros for Stock charts and other trading tools. --- Disclaimer Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. __________________ Forexpros.com - Bringing you live news, analysis advanced charts and quotes. Check out our new and improved Technical Studies Section. Link to comment Share on other sites More sharing options...
Guest forexpros Posted January 5, 2010 Share Posted January 5, 2010 Forexpros Daily Analysis Jan 5, 2009 Free webinar on Forexpros - Identifying Low Risk, High Reward, and High Probability Trading Opportunities For Short Term Forex Traders. Expert: Sam Seiden When: Thu, Jan 7, 2010, 12:00 EST During this session, we will apply what we learned during session one to the world of active short term trading in the Forex markets. We will walk through the trade selection process, applying our rule based strategy to identify price levels where demand and supply are out of balance and where profit margins are large offering us significant risk/reward opportunities. This webinar is the second of a three part series brought to you by Online Trading Academy and Forexpros. Click here to join free. --- Fundamental Analysis: FOMC Meeting Minutes Traders of the USD await the publication of the FOMC Meeting Minutes tomorrow (Jan 6). The Federal Open Market Committee (FOMC) Meeting Minutes are a detailed record of the committee's interest rate meeting held about two weeks earlier. The minutes provide detailed insights regarding the FOMC's stance on monetary policy, so Currency traders carefully comb them for clues regarding future interest rate shifts. --- Euro Dollar The support 1.4264 survived yesterday, causing the Euro to rise. It broke the resistance specified in yesterday’s report 1.4308, and reached both targets 1.4369 & the 1.4424-1.4457 successfully. But with this rise, we got closer to an important resistance, provided by the rising trend line from 1.4410, which is illustrated on the attached chart, and is currently at 1.4485. This line could provide a chance to reverse the short term direction after yesterday’s rise. So, 1.4485 will be resistance of the day, and breaking it would indicate a continuation in the uptrend with the next set of targets at 1.4569 & 1.4678, the first & second main Fibonacci retracement levels for the medium term (The 38.2% & 50%). But, if 1.4485 could reverse the direction, the price will drop to the support at 1.4454, and if broken a correction for the whole up-move from 1.4256 will be initiated, which will ideally target 1.4369, and may be later 1.4303. Support: • 1.4454: support level on the hourly chart. • 1.4369: Fibonacci 50% for the rise from 1.4256. • 1.4303: support level on the hourly chart. Resistance: • 1.4485: the rising trend line from 1.4410 on the hourly chart. • 1.4569: Fibonacci 38.2% for the whole drop from 1.5139 to 1.4216. • 1.4678: Fibonacci 50% for the whole drop from 1.5139 to 1.4216. --- USD/JPY At the moment of preparing this report, the Dollar-Yen is approaching 91.60, the rising trend line from 84.81. This point could be critical not just for the short term but for the medium term as well, since breaking it would indicate the termination of the rising trend line from 84.81, which will have a huge effect on the technical outlook for the medium term. If this line is broken, we will fall to the important 90.55, which is also another important support for the short term, and maybe we will see 89.58 after that. On the other hand, if the line survives this test, a short term rise will be initiated, challenging short term resistance at 91.97, and breaking this level would lead to a correction to the drop from 93.20 (and may be to more than that), targeting the important 92.59, and once its broken we will be looking forward to the long awaited 93.53. Support: • 91.60: the rising trend line from 84.81. • 90.55: Fibonacci 61.8% for the whole move from 88.91 to 93.20. • 89.58: Fibonacci 61.8% for the whole move from 87.35 to 93.20. Resistance: • 91.97: intraday resistance. • 92.59: Fibonacci 61.8% for the short term. • 93.53: Mar 19h low. --- Forex trading by Munther Marji for Forexpros. See Forexpros for Forex quotes and other trading tools. --- Disclaimer Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. __________________ Forexpros.com - Bringing you live news, analysis advanced charts and quotes. Check out our new and improved Technical Studies Section. Link to comment Share on other sites More sharing options...
Guest forexpros Posted January 6, 2010 Share Posted January 6, 2010 Forexpros Daily Analysis Jan 6, 2009 Free webinar TOMORROW on Forexpros - Identifying Low Risk, High Reward, and High Probability Trading Opportunities For Short Term Forex Traders. Expert: Sam Seiden When: Thu, Jan 7, 2010, 12:00 EST During this session, we will apply what we learned during session one to the world of active short term trading in the Forex markets. We will walk through the trade selection process, applying our rule based strategy to identify price levels where demand and supply are out of balance and where profit margins are large offering us significant risk/reward opportunities. This webinar is the second of a three part series brought to you by Online Trading Academy and Forexpros. Click here to join free. --- Fundamental Analysis: Interest Rate Decision The Bank of England (BOE) decision on short term interest rate is due to be published tomorrow (Jan 7). The decision on where to set interest rates depends mostly on growth outlook and inflation. The primary objective of the central bank is to achieve price stability. High interest rates attract foreigners looking for the best "risk-free" return on their money, which can dramatically increases demand for the nation's currency. A higher than expected rate is positive/bullish for the GBP, while a lower than expected rate is negative/bearish for the GBP. Analysts predict that the rate will remain at 0.50%. --- Euro Dollar With astonishing accuracy, the Euro stopped at the suggested reversal point 1.4485 (yesterday’s high was 1.4482), and exactly as we expected, started a big drop that reached 200 pips, passing by and breaking the support 1.4454, and reaching both suggested targets 1.4369 & 1.4303 successfully. And with coming back to areas below 1.43, we once again assure the importance of 1.4264, and we will consider it support of the day, and the borderline between a continuation of the drop from 1.4482, or a bounce to the upside. If this important support is taken, we expect the Euro to drop on the first trading day of the New Year towards 1.4176 & 1.4103. But if it holds, a test of short term resistance 1.4327 will follow, and breaking it would lead to a correction of yesterday’s big fall, ideally targeting 1.4406, and if broken we will jump to 1.4485, which reversed the upside activity, and caused yesterday’s drop. Support: • 1.4264: Dec 21st low. • 1.4176: Sep 1st low. • 1.4103: Aug 10th low. Resistance: • 1.4327: Fibonacci 61.8% for the micro term. • 1.4569: Fibonacci 61.8% for the short term. • 1.4485: the resistance that caused yesterday’s reversal. --- USD/JPY Dollar-Yen broke the trend lien rising from 84.81, but the drop that followed was limited, before going back above the line. This behavior recommends caution, the price should trade below certain levels to maintain any importance for this break. Short-term resistance is 92.45, and the support is at 91.75. . If this support is broken, we will fall to the important 90.55, which is also another important support for the short term, and maybe we will see 89.58 after that. On the other hand, if the price holds above this support, a short term rise will be initiated, challenging short term resistance at 92.45, and breaking this level would lead to a correction to the drop from 93.20 (and may be to more than that), targeting 93.08, and once its broken we will be looking forward to the long awaited 93.53. Support: • 91.75: the rising trend line from yesterday’s low on intraday charts. • 90.55: Fibonacci 61.8% for the whole move from 88.91 to 93.20. • 89.58: Fibonacci 61.8% for the whole move from 87.35 to 93.20. Resistance: • 92.45: short-term Fibonacci 61.8% resistance. • 93.08: previous support/resistance area. • 93.53: Mar 19h low. --- Forex trading by Munther Marji for Forexpros. See Forexpros for Commodities and other trading tools. --- Disclaimer Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. __________________ Forexpros.com - Bringing you live news, analysis advanced charts and quotes. Check out our new and improved Technical Studies Section. Link to comment Share on other sites More sharing options...
Guest forexpros Posted January 7, 2010 Share Posted January 7, 2010 Forexpros Daily Analysis Jan 7, 2010 Free webinar TODAY on Forexpros - Identifying Low Risk, High Reward, and High Probability Trading Opportunities For Short Term Forex Traders. Expert: Sam Seiden When: Thu, Jan 7, 2010, 12:00 EST During this session, we will apply what we learned during session one to the world of active short term trading in the Forex markets. We will walk through the trade selection process, applying our rule based strategy to identify price levels where demand and supply are out of balance and where profit margins are large offering us significant risk/reward opportunities. This webinar is the second of a three part series brought to you by Online Trading Academy and Forexpros. Click here to join free. --- Fundamental Analysis: Nonfarm Payrolls Traders of the USD await the publication of the Nonfarm Payrolls report due out tomorrow (Jan 8). The Nonfarm Payrolls measures the change in the number of employed people during the last month of all non-farming businesses. The total non-farm payroll accounts for approximately 80% of the workers who produce the entire gross domestic product of the United States. It is the single most important piece of data contained in the employment report, which considered to offer the best overview of the economy. The monthly changes and the revisions in payrolls can be quite volatile. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD. Analysts forecast a reading of -11.00K. --- Euro Dollar The Euro broke the resistance 1.4327 and reached our first suggested target 1.4406 successfully. But after reaching 1.4445 it came back to falling, as it is trading now around 1.4360. And with coming back to these areas, we once again assure the importance of 1.4264, and we will consider it the borderline between a continuation of the drop from 1.4482, or a bounce to the upside. But before it we should place our attention on 1.4344, and if broken a test of the important 1.4264 will be underway. If this important support is taken, we expect the Euro to drop towards 1.4176. But if it holds, a test of short term resistance 1.4394 will follow, and breaking it would lead to a rising move targeting 1.4485, which reversed the upside activity, and caused Tuesday’s drop, and later 1.4584. Support: • 1.4344: Fibonacci 61.8% for the short term. • 1.4264: Dec 21st low. • 1.4176: Sep 1st low. Resistance: • 1.4394: the falling trend line from yesterday’s high on intraday charts. • 1.4485: the resistance that caused Tuesday’s reversal. • 1.4584: Dec 11th low. --- USD/JPY As we said yesterday, Dollar-Yen broke the trend line rising from 84.81, but the drop that followed was limited, before going back above the line. This behavior recommends caution, since going back above the broken line stripped a lot of importance for this break. Short-term resistance is 93.08, and the support is at 92.24 . If this support is broken, we will fall to 91.51, and then the important 90.55, which is also another important support for the short term. On the other hand, if the price holds above this support, a short term rise will be initiated, challenging short term resistance at 93.08, and breaking this level would at least lead to challenge the top93.20, targeting the long awaited 93.53, and if this important resistance is broken, we will target 94.05. Support: • 92.24: the rising trend line from 84.81 • 91.51: obvious resistance area on the hourly chart. • 90.55: Fibonacci 61.8% for the whole move from 88.91 to 93.20. Resistance: • 93.08: previous support/resistance area. • 93.53: Mar 19h low. • 94.05: Aug 28th high. --- Forex trading by Munther Marji for Forexpros. See Forexpros for quotes on Rates and Bonds. --- Disclaimer Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. __________________ Forexpros.com - Bringing you live news, analysis advanced charts and quotes. Check out our new and improved http://www.forexpros.com/technical/technical-studies'>Technical Studies Section. Link to comment Share on other sites More sharing options...
Guest forexpros Posted January 11, 2010 Share Posted January 11, 2010 Forexpros Daily Analysis Jan 11. 2010 Free webinar from Forexpros - Identifying Low Risk, High Reward, and High Probability Trading Opportunities For Short Term Forex Traders Expert: Sam Seiden When: Thu, Jan 21, 2010, 11:00 EST During this session, we will apply what we learned during session one to the world of active short term trading in the Forex markets. We will walk through the trade selction process, applying our rule based strategy to identify price levels where demand and supply are out of balance and where profit margins are large offering us significant risk/reward opportunities. This webinar is the second of a three part series brought to you by Online Trading Academy and ForexPros. Click here to join free. --- Fundamental Analysis: Trade Balance The Trade Balance index will be published tomorrow (Jan 12) in the US, Britain and Canada. The Trade Balance index measures the difference in worth between exported and imported goods (exports minus imports). This is the largest component of a country's balance of payments. Export data can give reflection on the country's growth. Imports provide an indication of domestic demand. Because foreigners must buy the domestic currency to pay for the nation's exports, it may have sizable affect on the domestic currency. A higher than expected reading should be taken as positive/bullish for the currency, while a lower than expected reading should be taken as negative/bearish for the currency. Analysts predict a reading of -32.90B for the USD, -7.10B for the GBP and 0.40B for the CAD. --- Euro Dollar The Euro broke the resistance specified in Friday’s report 1.4332, and successfully reached both suggested targets 1.4407 & 1.4485. But this rising move have bumped into (And slightly surpassed) the trend line which was the center of our attention all last week, and caused a notable reversal close to 1.4485. Thus, the Asian session top 1.4531 will be an important resistance to determine if this line is able to create another reversal, or if it will be broken this time, letting the price fly. The support is at 1.4485. We will be waiting for a break of either of them to determine short term trend. IF the resistance 1.4531 is broken, the Euro will gain a lot of strength, targeting 1.4625, and the important Fibonacci level 1.4678. If the support at 1.4485 is broken, it would indicate that this line has probably created another reversal similar to the one we saw last week, ideally targeting 1.4428 & 1.4365. Support: • 1.4485: important previous resistance close to last week’s high. • 1.4428: Fibonacci 38.2% for the short term. • 1.4365: Fibonacci 61.8% for the short term. Resistance: • 1.4531: Asian session high. • 1.4625: Nov 3rd low. • 1.4678: Fibonacci 50% for the medium term. --- USD/JPY Although it has reached 93.75, the Dollar-Yen has closed obviously on the negative side, below the important trend line on the daily charts. The price broke the support specified in Friday’s report, and successfully reached the first suggested target 92.20. We have explained the importance of Friday’s closing in the last report, and said that closing above or below 93.35 leads to completely different readings: a negative one and a positive one. The closing price came clearly below 93.35 (Fridays close 92.62), which can be read without hesitation as a negative closing. Today, we will be on the watch for this line which is currently at 93.11, and we will take a negative bias towards this pair as long as we are below this most important resistance for the time being. Support is at 92.20 (and as this report is being prepared we are trading only pips above it). Breaking the resistance 93.11 will be surprising to us, and will give the needed strength to reach areas beyond 94, most important of which are 94.05 & 94.62. While a break of the support 92.20 would open the way to a drop towards 91.51 & 90.76. Support: • 92.20: Fibonacci 61.8% for the short term. • 91.51: obvious resistance area on the hourly chart. • 93.12: Fibonacci 61.8% for the whole rise from 88.91 to 93.75. Resistance: • 93.11: the falling trend line from 101.43 on the daily charts. • 94.05: Aug 28th high. • 94.62: Jan 6th 2008 high. --- Forex trading by Munther Marji for Forexpros. See Forexpros for technical and fundamental analysis. --- Disclaimer Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. __________________ Forexpros.com - Bringing you live news, analysis advanced charts and quotes. Check out our new and improved http://www.forexpros.com/technical/technical-studies '>Technical Studies Section. Link to comment Share on other sites More sharing options...
Guest forexpros Posted January 12, 2010 Share Posted January 12, 2010 Forexpros Daily Analysis Jan 12, 2010 Free webinar from Forexpros - Identifying Low Risk, High Reward, and High Probability Trading Opportunities For Short Term Forex Traders Expert: Sam Seiden When: Thu, Jan 21, 2010, 11:00 EST During this session, we will apply what we learned during session one to the world of active short term trading in the Forex markets. We will walk through the trade selction process, applying our rule based strategy to identify price levels where demand and supply are out of balance and where profit margins are large offering us significant risk/reward opportunities. This webinar is the second of a three part series brought to you by Online Trading Academy and ForexPros. Click here to join free. --- Fundamental Analysis: Core Retail Sales Traders of USD await the publication of the Core Retail Sales report. The Core Retail Sales is a monthly measurement of all goods sold by retailers based on a sampling of retail stores of different types and sizes in the US, excluding auto. It is an important indicator of consumer spending and also correlated to consumer confidence and considered as a pace indicator of the US economy . A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD. Analysts predict a reading of 0.30%, down from the previous 1.20%. --- Euro Dollar The Euro did not succeed in its first attempt to break the trend line we talked about yesterday. And also, the price did not move all too much, leaving yesterday’s Asian session top 1.4531 as the important resistance to determine if this line is able to create another reversal, or if it will be broken this time, letting the price fly. The support is at 1.4485. We will be waiting for a break of either of them to determine short term trend. IF the resistance 1.4531 is broken, the Euro will gain a lot of strength, targeting 1.4625, and the important Fibonacci level 1.4678. If the support at 1.4485 is broken, it would indicate that this line has probably created another reversal similar to the one we saw last week, ideally targeting 1.4428 & 1.4365. Support: • 1.4485: important previous resistance close to last week’s high. • 1.4428: Fibonacci 38.2% for the short term. • 1.4365: Fibonacci 61.8% for the short term. Resistance: • 1.4531: Asian session high. • 1.4625: Nov 3rd low. • 1.4678: Fibonacci 50% for the medium term. --- USD/JPY We will maintain a negative bias towards this pair, and it is enough to take a look at the attached chart to know the reason why. Dollar-Yen is currently trading below the rising trend line on the hourly chart, and it is vulnerable to a big drop. We explained in the last two reports the importance of Friday’s closing, and said that closing above or below 93.35 leads to completely different readings: a negative one and a positive one. The closing price came clearly below 93.35 (Fridays close 92.62), which can be read without hesitation as a negative closing. Today, we will place our focus on the broken trend line which is currently at 92.40, and we will take a negative bias towards this pair as long as we are below this most important resistance for the time being. Support is at 91.70. Breaking the resistance 92.40 will be surprising to us, and will give the needed strength to reach areas beyond 94, most important of which are 94.05 & 94.62. While a break of the support 91.70 would open the way to a drop towards 90.76 & 89.79. Support: • 91.70: the moving average SMA100 on the hourly chart. • 90.76: Fibonacci 61.8% for the whole rise from 88.91 to 93.75. • 89.79: Fibonacci 61.8% for the whole rise from 87.35 to 93.75. Resistance: • 92.40: the retest level for the broken trend line on the hourly chart. • 94.05: Aug 28th high. • 94.62: Jan 6th 2008 high. --- Forex trading analysis by Munther Marji for Forexpros. See Forexpros for World Indices charts and other trading tools. --- Disclaimer Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. __________________ Forexpros.com - Bringing you live news, analysis advanced charts and quotes. Check out our new and improved Technical Studies Section. Link to comment Share on other sites More sharing options...
Guest forexpros Posted January 13, 2010 Share Posted January 13, 2010 ForexPros Daily Analysis January 13, 2010 Free webinar on ForexPros - Identifying Low Risk, High Reward, and High Probability Trading Opportunities For Short Term Forex Traders Expert: Sam Seiden When: Thursday, Jan 21, 2010, 11:00 EST During this session, we will apply what we learned during session one to the world of active short term trading in the Forex markets. We will walk through the trade selction process, applying our rule based strategy to identify price levels where demand and supply are out of balance and where profit margins are large offering us significant risk/reward opportunities. This webinar is the second of a three part series brought to you by Online Trading Academy and ForexPros. Click here to join free. --- Fundamental Analysis: Initial Jobless Claims Traders anticipate the publication of the Initial Jobless Claims report tomorrow, January 14. Initial Jobless Claims is a measure of the number of people who file for unemployment benefits for the first time during the given week. This data is collected by the Department of Labor, and published as a weekly report. The number of jobless claims is used as a measure of the health of the job market, as a series of increases indicates that there are fewer people being hired. On a week-to-week basis, claims are quite volatile. Usually, a move of at least 35K in claims, is required to signal a meaningful change in job growth. A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD. Analysts predict no change in the reading which will remain at 434.00K. --- Euro Dollar For the second day in a row, the Euro did not create any major or technically meaningful moves. We maintained a trading range below Monday's top 1.4555, and above the Asian session bottom for the same day 1.4452. It seems like this trading range is getting tighter & tighter, which is a price behavior that usually happens before large moves. The borders of this tight area are drawn with the two small trend lines on the hourly chart which are at 1.4531 & 1.4464. Thus, breaking any of these levels will move the Euro in the direction of the break. If we break the resistance 1.4531 the odds of going above 1.46 will be high, where the attractive targets 1.4625 & 1.4678 await. But if we break the support 1.4464, the Euro will fall again targeting 1.4409 first, then 1.4331. And as it is the case with all tight ranges, it is highly preferred not to take a bias towards any direction before breaking the limits of the tight range. Support: * 1.4485: the trend line that limits the tight area from below. * 1.4409: Fibonacci 50% for the short term. * 1.4331: previous well known support/resistance. Resistance: * 1.4531: the trend line that limits the tight area from above. * 1.4625: Nov 3rd low. * 1.4678: Fibonacci 50% for the medium term. --- USD/JPY Exactly as we have expected, Dollar-Yen broke yesterday's support 91.70 and successfully reached the suggested target 90.76, stopping only 5 pips below it, before bouncing back above 91. As we can see on the attached chart, this pair has bumped into a support that caused it to bounce more than 60 pips until now. Reaching 90.76 is expected to provide a chance to create a correction for the whole fall from 93.75, which will ideally target 91.87 & 92.59. But before talking about such a correction we should see a break of short term resistance 91.33. If the price goes back to falling, and break short term support 90.95, the down trend will continue, and will target 90.35, and later the important 89.79. Support: * 90.95: Fibonacci 61.8% for the short term. * 90.35: support/resistance area on the 4-hour chart. * 89.79: Fibonacci 61.8% for the whole rise from 87.35 to 93.75. Resistance: * 91.33: intraday top. * 91.87: Fibonacci 38.2% for the whole move down from 93.75. * 94.62: Fibonacci 61.8% for the whole move down from 93.75. --- Forex Trading Analysis written by Munther Marji for ForexPros. For information on forex software see ForexPros. --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. __________________ Forexpros.com - Bringing you live news, analysis advanced charts and quotes. Check out our new and improved Technical Studies Section. Link to comment Share on other sites More sharing options...
Guest forexpros Posted January 18, 2010 Share Posted January 18, 2010 ForexPros Daily Analysis January 18, 2010 Free webinar on ForexPros - Identifying Low Risk, High Reward, and High Probability Trading Opportunities For Short Term Forex Traders Expert: Sam Seiden When: Thursday, Jan 21, 2010, 11:00 EST During this session, we will apply what we learned during session one to the world of active short term trading in the Forex markets. We will walk through the trade selction process, applying our rule based strategy to identify price levels where demand and supply are out of balance and where profit margins are large offering us significant risk/reward opportunities. This webinar is the second of a three part series brought to you by Online Trading Academy and ForexPros. Click here to join free. --- Fundamental Analysis: Interest Rate Decision Traders are looking forward to the publication tomorrow (January 19), of the Bank of Canada, regarding short term interest rate. The decision on where to set interest rates depends mostly on growth outlook and inflation. The primary objective of the central bank is to achieve price stability. High interest rates attract foreigners looking for the best "risk-free" return on their money, which can dramatically increases demand for the nation's currency. A higher than expected rate is positive/bullish for the CAD, while a lower than expected rate is negative/bearish for the CAD. Analysts predict no change in the reading which will remain at 0.25%. --- Euro Dollar We will put all our focus for today on 1.4299, where there is the rising trend line from December 22nd bottom. Staying above it or breaking it will determine the direction for today. If broken, what we called a minor probability in last week’s report (that we have bumped into a medium term reversal level at Fibonacci 38.2%) will get boosted. In this case, the drop from 1.4577 will carry on, and its targets will be the Dec 22nd bottom 1.4216, and the important support at 1.4176. Short term resistance is at 1.4421, and breaking it will bring back a little bit of the positive outlook, targeting 1.4509 & 1.4555. Support: • 1.4299: the rising trend line from Dec 22nd bottom. • 1.4216: Dec 22nd bottom. • 1.4176: Sep 1st low. Resistance: • 1.4421: a falling trend line on the intraday charts and hourly chart. • 1.4509: Nov 3rd low. • 1.4555: Jan 11th high. --- USD/JPY Dollar-Yen tried to break 90.76 on Friday, before going back above it after an short-lived attempt, and stayed above it until the weekly close. But on the other hand, the internal structure of the last two moves: the rise from 90.71 & the fall from 92.03 could be read as parts 1 & 2 of a 3-way correction, or in the language of Elliott Wave analysis: waves a & b. In this case, a similar up move to the one from 90.71 will appear before breaking this important bottom. Such a move will ideally target 91.87 & 92.59. And given that short term resistance is at 91.30, a break here would indicate this move is already underway. On the other hand, breaking 90.76 will eliminate this assumption, and indicates a continuation of the drop on the last day of the week, which is expected to hit this pair hard, and drag it to 89.79 and may be 89.22. Support: • 90.76: Fibonacci 61.8% for the whole rising move from 88.91 to 93.75. • 89.79: Fibonacci 61.8% for the whole rising move from 87.35 to 93.75. • 89.22: a previous well known support/resistance area. Resistance: • 91.30: the falling trend line from 93.75. • 91.87: Fibonacci 38.2% for the whole move down from 93.75. • 92.59: Fibonacci 61.8% for the whole move down from 93.75. --- Forex Trading Analysis written by Munther Marji for ForexPros. For information on forex quotes see ForexPros. --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. __________________ Forexpros.com - Bringing you live news, analysis advanced charts and quotes. Check out our new and improved Technical Studies Section. Link to comment Share on other sites More sharing options...
Guest forexpros Posted January 19, 2010 Share Posted January 19, 2010 ForexPros Daily Analysis January 19, 2010 Free webinar on ForexPros - Identifying Low Risk, High Reward, and High Probability Trading Opportunities For Short Term Forex Traders Expert: Sam Seiden When: Thursday, Jan 21, 2010, 11:00 EST During this session, we will apply what we learned during session one to the world of active short term trading in the Forex markets. We will walk through the trade selection process, applying our rule based strategy to identify price levels where demand and supply are out of balance and where profit margins are large offering us significant risk/reward opportunities. This webinar is the second of a three part series brought to you by Online Trading Academy and ForexPros. Click here to join free. --- Fundamental Analysis: Core CPI (MoM) Traders look forward to the publication of the Canadian Core Consumer Price Index (CPI) which will be released tomorrow (January 20). The CPI measures the changes in the price of goods and services excluding food and energy. Also, it measures price change from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation in Canada. A higher than expected reading should be taken as positive/bullish for the CAD (as the common way to fight inflation is raising rates, which may attract foreign investment), while a lower than expected reading should be taken as negative/bearish for the CAD. Analysts predict a reading of 0.20% versus a past reading of 0.40%. --- Euro Dollar We will put all our focus for today on 1.4303, where there is the rising trend line from December 22nd bottom. Staying above it or breaking it will determine the direction for today. If broken, what we called a minor probability in last week’s report (that we have bumped into a medium term reversal level at Fibonacci 38.2%) will get boosted. In this case, the drop from 1.4577 will carry on, and its targets will be the Dec 22nd bottom 1.4216, and the important support at 1.4176. Short term resistance is still at 1.4421, and breaking it will bring back a little bit of the positive outlook, targeting 1.4509 & 1.4555. Support: • 1.4303: the rising trend line from Dec 22nd bottom. • 1.4216: Dec 22nd bottom. • 1.4176: Sep 1st low. Resistance: • 1.4421: yesterday’s resistance that stopped the rise. • 1.4509: Nov 3rd low. • 1.4555: Jan 11th high. --- USD/JPY Dollar-Yen broke the support that we put under our surveillance in the last few days 90.76, and although this break was not followed by a big move, closing below it indicates momentum in the downtrend. Now, it is important for the price to stay below the most important resistance 90.90, which is provided by the falling trend line from 93.75. Staying under this trend line in specific means that the downtrend is going on. Short term support is 90.37, breaking it would initiate a down move that we expect to be stronger that what we have seen lately, and would target 89.79 and 89.22. And as we said, the most important resistance is 90.90, we do not expect it to be broken today, but if a surprise happens, we will be in an upward correction for the whole drop from 93.75, which will ideally target the 3 main Fibonacci retracement levels 91.64, 92.04 & 92.44. Support: • 90.37: intraday support. • 89.79: Fibonacci 61.8% for the whole rising move from 87.35 to 93.75. • 89.22: a previous well known support/resistance area. Resistance: • 90.90: the falling trend line from 93.75. • 91.64: Fibonacci 38.2% for the whole move down from 93.75. • 92.44: Fibonacci 61.8% for the whole move down from 93.75. --- Forex Trading Analysis written by Munther Marji for ForexPros. For information on stock prices see ForexPros. --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. __________________ Forexpros.com - Bringing you live news, analysis advanced charts and quotes. Check out our new and improved Technical Studies Section. Link to comment Share on other sites More sharing options...
Guest forexpros Posted January 21, 2010 Share Posted January 21, 2010 ForexPros Daily Analysis January 21, 2010 Free webinar on ForexPros - Identifying Low Risk, High Reward, and High Probability Trading Opportunities For Short Term Forex Traders Expert: Sam Seiden When: Thursday, Jan 21, 2010, 11:00 EST During this session, we will apply what we learned during session one to the world of active short term trading in the Forex markets. We will walk through the trade selection process, applying our rule based strategy to identify price levels where demand and supply are out of balance and where profit margins are large offering us significant risk/reward opportunities. This webinar is the second of a three part series brought to you by Online Trading Academy and ForexPros. Click here to join free. --- Fundamental Analysis: Retail Sales (MoM) Traders anticipate the publication of the UK Retail Sales on Friday (January 22). It is a monthly measurement of all goods sold by retailers based on a sampling of retail stores of different types and sizes in the UK. It is an important indicator of consumer spending and also correlated to consumer confidence and considered as a pace indicator of the UK economy. A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP. Analysts predict a change in the future reading to 1.30% versus a previous reading of -0.30%. --- Euro Dollar The Euro broke yesterday’s support 1.4185, and successfully reached the suggested target for this break 1.4103. With approaching 1.40, and most of the indicators going oversold on most time frames, we should ask ourselves, have we reached a bottom at yesterday’s low 1.4065? Price behavior has founded a support at 1.4079, before going back above 1.41. Keeping this support is step one in using this bottom to create a strong bounce, that serves (at least) as a correction for the whole move from 1.4577. Step two would be breaking the Asian session top 1.4135, then we can say that a correction has already started. Breaking resistance of the day 1.4135, would target the previous important bottom 1.4216, and then 1.4321. But if the unexpected happens and we break 1.4079, the strong & sharp drop from 1.4577 that has gained 500 pips until this moment will carry on, and will target the important 1.4006, and may be later 1.3928. Support: • 1.4079: the most important intraday support for the last few hours. • 1.4006: the important bottom of Jul 29th. • 1.3928: Jul 15th low. Resistance: • 1.4315: Asian session high. • 1.4216: Dec 22nd bottom. • 1.4321: Fibonacci 50% for the whole drop from 1.4577. --- USD/JPY Dollar-Yen broke the resistance specified in yesterday’s report 91.30 and successfully reached the modest target for this break 91.64, but it did so with an astonishing accuracy since the Asian session high was exactly 91.64. This very accurate stopping indicates that Fibonacci 38.2% has stopped in the way of more rising, and could cause it trouble. Thus, we will consider 91.64 to be a resistance capable of reversing the short term direction and initiate a falling move from these levels. In case this resistance is broken the rise will continue, targeting the most important Fibonacci levels 92.04 & 92.44. In this case 92.44 will be a critical resistance for both short & medium term. But, in the case of holding below 91.64, the price will move down to challenge the rising trend line from 90.30, which is currently at 91.25. Breaking this line will bring back 90.76 into the spotlight, which will be a first target for this break, and then target 89.79 which is not less important at all. Support: • 91.25: the rising trend line from 90.30. • 90.76: Fibonacci 61.8% for the whole rising move from 88.91 to 93.75. • 89.79: Fibonacci 61.8% for the whole rising move from 87.35 to 93.75. Resistance: • 91.64: Fibonacci 38.2% for the whole move down from 93.75. • 92.04: Fibonacci 50% for the whole move down from 93.75. • 92.44: Fibonacci 61.8% for the whole move down from 93.75. --- Forex Trading Analysis written by Munther Marji for ForexPros. For information on world indices rates see ForexPros. --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. __________________ Forexpros.com - Bringing you live news, analysis advanced charts and quotes. Check out our new and improved Technical Studies Section. Link to comment Share on other sites More sharing options...
Guest forexpros Posted January 25, 2010 Share Posted January 25, 2010 ForexPros Daily Analysis January 25, 2010 Free webinar on ForexPros - The Effects of Forex on the Stock and Commodities Market Expert: Jeffrey Baskin When: Thursday, Jan 28, 2010, 11:00 EST In this webinar, we will discuss the Forex market and how it impacts the Stock and Commodities market. In addition to the pricing correlations and how you can find Forex trading opportunities using the synergy of all three markets. Click here to join free. --- Fundamental Analysis: German Ifo Business Climate Index Traders look forward to the publication of the German Information and Foschung (Ifo) Business Climate Index tomorrow (January 26). The index determines the business sentiment and conditions in the Euro-zone. The reading is concluded from a survey of about 7,000 businesses. A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR. Analysts predict a slight rise to a reading of 95.00 versus a previous reading of 94.70. --- Euro Dollar We have not seen any major moves on Friday. The Euro kept a bottom at 1.4027, which is very close to the most important support at the moment 1.4014, and started to rise, breaking the report’s resistance 1.4137,but settled for 1.4180 only, closing just a bit below it. Candlestick watchers can notice that Thursday’s candle is in fact a hammer, and that Fridays candle has recorded a higher high, working as a confirmation for the hammer pattern. This makes the odds favor a continuation of the rise that started at 1.4027, to at least create a matching correction for the whole drop from 1.4577. Today’s resistance is provided by the falling trend line from 1.4554 on the hourly chart, which is currently at 1.4184, while the support is provided by short term 61.8% Fibonacci at 1.4085. Breaking resistance of the day would initiate a strong rise targeting 1.4302, and then 1.4367. But if the unexpected happens and we break 1.4085, the strong & sharp drop from 1.4577 that has gained 550 pips until this moment will carry on, and will target the very important 1.4014, and may be later 1.3928. Support: • 1.4085: Fibonacci 61.8% for the short term. • 1.4014: Fibonacci 50% for the long term (for the rise from 1.2885 to 1.5143). • 1.3928: Jul 15th low. Resistance: • 1.4184: the falling trend line from 1.4554 on the hourly chart. • 1.4302: Fibonacci 50% for the whole drop from 1.4577. • 1.4367: Fibonacci 61.8% for the whole drop from 1.4577. --- USD/JPY Dollar-Yen did not move but 75 pips on Friday, and did not break any major levels during that limited move. Thus, our attention is still revolving around 89.79, the most important support at all for now. As we have said in last week reports, the importance of 89.79 comes from the fact that it is the 61.8% Fibonacci retracement level for the whole up move from 87.35 to 93.75. This very accurate stopping indicates that Fibonacci 61.8% has stopped in the way of more dropping, and could cause it trouble. Thus, we will consider 89.79 to be a support capable of reversing the short term direction and initiate a rising move from these levels. In case this support is broken the drop will continue, targeting 88.91 & 88.30. In this case 92.44 will be a critical resistance for both short & medium term. But, in the case of holding above 89.79, the price will move up to challenge the previous important support 90.30. Breaking this support will put attention at two important resistance levels and they are the short term 61.8% Fibonacci resistance level at 91.06 and then the falling trend line from 93.75 which is currently at 91.64. Support: • 89.79: Fibonacci 61.8% for the whole rising move from 87.35 to 93.75. • 88.91: Dec 18th low. • 88.30: Dec 14th low Resistance: • 90.30: previous important support. • 91.06: Fibonacci 50% for the short term. • 91.64: the falling trend line from 93.75. --- Forex Trading Analysis written by Munther Marji for ForexPros. For information on forex charts see ForexPros. --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. __________________ Forexpros.com - Bringing you live news, analysis advanced charts and quotes. Check out our new and improved Technical Studies Section. Link to comment Share on other sites More sharing options...
Guest forexpros Posted January 27, 2010 Share Posted January 27, 2010 ForexPros Daily Analysis January 27, 2010 Free webinar on ForexPros - The Effects of Forex on the Stock and Commodities Market Expert: Jeffrey Baskin When: Thursday, Jan 28, 2010, 11:00 EST In this webinar, we will discuss the Forex market and how it impacts the Stock and Commodities market. In addition to the pricing correlations and how you can find Forex trading opportunities using the synergy of all three markets. Click here to join free. --- Fundamental Analysis: US Core Durable Goods Orders Traders look forward to the publication of the Core Durable Goods Orders tomorrow (January 28). It measures the change in the total value of new orders for durable goods, excluding transportation. Because aircraft orders are very volatile, the core number gives a better gauge of orders trends. Higher reading indicates activity increase by manufacturers. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD. The previous reading was at 2.00% which analysts predict will decline to 0.40%. --- Euro Dollar As we get closer and closer to 1.4014, with reaching 1.4040 yesterday, 1.4014 will stay at the center of our focus for another day . The Euro kept a bottom at 1.4027, which is very close to the most important support at the moment 1.4014. While the rising attempts stopped just shy of the falling trend line from 1.4554. Today’s resistance is at this trend line in specific which runs currently at 1.4116. As for the support we will put all our attention at 1.4014 and not any level before it. Breaking resistance of the day would initiate a strong rise targeting Fibonacci levels at 1.4237 & 1.4302. But if the all important support 1.4014 is broken, the strong & sharp drop from 1.4577 that has gained 550 pips until this moment will carry on, strongly, and will target 1.3928 & 1.3857. We have a very interesting day ahead of us, let’s enjoy it. Support: • 1.4014: Fibonacci 50% for the long term (for the rise from 1.2885 to 1.5143). • 1.3928: Jul 15th low. • 1.3857: May 26th low. Resistance: • 1.4116: the falling trend line from 1.4554 on the hourly chart. • 1.4237: Fibonacci 38.2% for the whole drop from 1.4577. • 1.4302: Fibonacci 50% for the whole drop from 1.4577. --- USD/JPY Dollar-Yen penetrated the important 89.79 once again, but this time, we had a close below it, and reached 89.12. The importance of 89.79 comes from the fact that it is Fibonacci 61.8% for the whole rise from 87.37 to 93.75. And with breaking it, any bias towards the Dollar has lost its best advocate! But on the other hand, we noticed a trend line that deserves attention, and has provided support 4 times in the past. Price has touched and slightly went below this line in the past few hours. If this line is to provide support, 89.12 must not be broken. In this case we will witness attest of the resistance 89.69, and if broken then the price would have found support around the above mentioned trend line and started rising again, targeting 90.30 & the most important resistance for now 90.90. The other scenario is to break 89.12, in this case the price will continue to capitalize on the break of 89.79 and will head on to 88.30 & 87.72. Support: • 89.79: Fibonacci 61.8% for the whole rising move from 87.35 to 93.75. • 88.91: Dec 18th low. • 88.30: Dec 14th low Resistance: • 90.30: previous important support. • 91.06: Fibonacci 50% for the short term. • 91.64: the falling trend line from 93.75. --- Forex Trading Analysis written by Munther Marji for ForexPros. For information on currency trading see ForexPros. --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. __________________ Forexpros.com - Bringing you live news, analysis advanced charts and quotes. Check out our new and improved Technical Studies Section. Link to comment Share on other sites More sharing options...
Guest forexpros Posted January 28, 2010 Share Posted January 28, 2010 ForexPros Daily Analysis January 28, 2010 Free webinar on ForexPros - The Effects of Forex on the Stock and Commodities Market Expert: Jeffrey Baskin When: Today, Jan 28, 2010, 11:00 EST In this webinar, we will discuss the Forex market and how it impacts the Stock and Commodities market. In addition to the pricing correlations and how you can find Forex trading opportunities using the synergy of all three markets. Click here to join free. --- Fundamental Analysis: US GDP (QoQ)P Traders anticipate the publication of the the Gross Domestic Product measure tomorrow (January 29). The GDP is the broadest measure of economic activity and is a key indicator for the economy's health. The Annualized (quarterly change x4) percent changes in GDP shows the growth rate of the economy as a whole. Consumption is by far the largest component in the GDP of the US and has the most affect on it. The figures can be quite volatile from quarter to quarter. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD. Analysts predict a reading of 4.50% versus a past lower reading of 2.20%. --- Euro Dollar The Euro broke 1.4014, and dropped as expected, stopping only 8 pips before our suggested target 1.3928. But the sharp n swift bounce that brought us back above 1.40 may threaten this break, so will it hold? Looking at the hourly chart, we can see that the Euro, and before breaking 1.4014, has stopped at the falling trend line from 1.4554 for a third time, which makes this line one that deserves attention. The downtrend from 1.4577 will be dominant as long as we are below this line, which is currently at 1.4065, that’s why it is resistance of the day. While the support is at 1.3969, and breaking either of these levels will set the direction for the next hours. Breaking resistance 1.4065 will initiate a correction for the whole drop from 1.4577, with ideal targets at 1.4181 & 1.4257. On the other hand, breaking support at 1.3969 means that we will leave the 1.39 areas after a swift visit and head toward the 1.38s where 1.3888 & the important 1.3824 awaits. Support: • 1.4014: Fibonacci 61.8% for the short term. • 1.3888: Jun 24th & 25th low. • 1.3857: Dec 19th 2008 important low. Resistance: • 1.4065: the falling trend line from 1.4554 on the hourly chart. • 1.4181: Fibonacci 38.2% for the whole drop from 1.4577. • 1.4257: Fibonacci 50% for the whole drop from 1.4577. --- USD/JPY As it is expected, the “trend line that deserves attention” has successfully managed to present support once again, giving the Dollar-Yen a chance to hold above support 89.12, breaking resistance 89.69, and successfully reaching the first suggested target 90.30. This fine bounce may manage to test the most important resistance for now 90.71, which is provided by the falling trend line from 93.75. If the Dollar is meant to achieve more gains from this bounce, it is preferred that we do not break support at 89.98. And between 90.71 & 89.98, we will await a break of either of them to set the direction for the short term. If wettest the falling trend line and break the resistance 90.71, the price will already be in a correction for the whole drop from 93.75, with ideal targets at 91.44 & 91.98. In case of a break of the support 89.98, we will target going back to the same trend line that provided yesterdays support, which is currently at 89.05, and if broken 88.30. Support: • 89.98: Fibonacci 61.8% for the short term. • 89.05: the support of the falling trend line from 90.58. • 88.30: Dec 14th low Resistance: • 90.71 the falling trend line from 93.75, the most important resistance currently. • 91.44: Fibonacci 50% for the whole drop from 93.75. • 91.98: Fibonacci 61.8% for the whole drop from 93.75. --- Forex Trading Analysis written by Munther Marji for ForexPros. For information on currency trading see ForexPros. --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. __________________ Forexpros.com - Bringing you live news, analysis advanced charts and quotes. Check out our new and improved Technical Studies Section. Link to comment Share on other sites More sharing options...
Guest forexpros Posted February 18, 2010 Share Posted February 18, 2010 ForexPros Daily Analysis February 18, 2010 Free webinar on ForexPros - Mapping Out the Banking System & Foreign Exchange Dealing Process, Part II. Expert: Dan Cook When: Wed, Feb 24, 2010, 11:00 EST In the second installment of the Webinar ‘Mapping Out the Banking System & Foreign Exchange Dealing Process’, Dan Cook will take a deeper dive into the Foreign Exchange Market. Cook will start by discussing the interbank system and how it differs in form and functionality to the centralized exchange models used for trading stocks and commodities. From there, he will focus on broker-level dealing and discuss how retail brokers, whether ECN's or Dealing Desk models, make money. Cook will also take an inside look at dealing desks and speak frankly about the roles and responsibilities of a retail dealing desk, which will include an overview of how brokers hedge currency exposure. The goal of this Webinar is to help traders understand the nuances of the Forex market by shedding light on many of the aspects of currency trading that have previously been shrouded in mystery. Click here to join free. Fundamental Analysis: US CPI (MoM) Traders of the US look forward to the publication of the Consumer Price Index (CPI). The index measures the changes in the price of goods and services. The CPI measures price change from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation in the US. A higher than expected reading should be taken as positive/bullish for the USD (as the common way to fight inflation is raising rates, which may attract foreign investment), while a lower than expected reading should be taken as negative/bearish for the USD. Analysts predict a rise from the past reading to a reading of 0.30%. --- Euro Dollar The Euro stopped just 8 pips above the resistance specified in yesterday's report 1.3778, before collapsing completely, breaking the support 1.3740 and successfully reaching both suggested targets 1.3685 & 1.3626. As we always say, stopping close enough to a Fibonacci resistance is an evidence of a downtrend, and this is what happened yesterday. Today, it seems we will have a correction for yesterday's huge drop, before continuing to go lower is such a strong downtrend. Intraday support 1.3562 is an important support, and as long as we hold above it, the odds for having our correction will be immense. But, if we break it, this sharp strong drop will go on and the next set of targets will be the very important support 1.3482 & if broken 1.3422. On the other hand, if we survive above 1.3562, we will test the resistance 1.3594, and if broken the correction will be immediately initiated, wit an ideal target at 1.3671, and if broken the next target will be 1.3724. Support: • 1.3562: the most important intraday support. • 1.3482: Fibonacci 61.8% for the long term. • 1.3422: May 18th low. Resistance: • 1.3594: Feb 12th low. • 1.3671: Fibonacci 50% for yesterday's collapse. • 1.3724: hourly resistance. --- USD/JPY As expected, the Dollar-Yen maintained trading inside the channel we talked about yesterday, broke the resistance 90.53 & successfully reached the first suggested target 91.14. its only coincidence that short term Fibonacci 61.8% is almost at this level, specifically at 91.15. If it is broken, we will continue to rise and target the important Fibonacci 61.8% at 91.76. And this is an important resistance that if it is broken we can say with confidence that the Dollar has freed itself from short term downtrend. The first target of this "freedom" will be Oct 27th top 92.31. Short term resistance is at 90.80, and breaking it would reverse the strength signs we have seen in the past two days, creating a modest surprise. If this surprise actually happens, then we will target the most important short term support at 90.12, and only if broken we expect the Dollar-yen to reach 89.54. Support: • 90.80: Asian session low. • 90.12: the bottom of the rising channel on the hourly chart. • 89.54: Feb 11th low. Resistance: • 91.15: short term Fibonacci 61.8% resistance. • 91.76: Fibonacci 61.8% for the whole drop from 93.75. • 92.31: Oct 27th high. --- Forex Trading Analysis written by Munther Marji for ForexPros. For information on US dollar index see ForexPros. --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. __________________ Forexpros.com - Bringing you live news, analysis advanced charts and quotes. Check out our new and improved Technical Studies Section. Link to comment Share on other sites More sharing options...
Guest forexpros Posted August 18, 2010 Share Posted August 18, 2010 ForexPros Daily Analysis August 18, 2010 Free webinar on ForexPros - Trend. How to spot it and how to trade it. Support and resistance levels Expert: Stoyan Mihaylov When: Mon, Aug 23, 2010, 11:00 GMT It is a common belief, that "The trend is your friend". In order to profit from the trend you have to be able to spot it on the chart, recognize the time-frame it is derived from and to define all the important support and resistance levels. Walking with the trend is an easy and simple way to follow the market , which is the essence of the TA phenomenon. In this online webinar you will be able to participate actively in the discussion and to ask the questions you're interested in. The webinar will be conducted by Stoyan Mihaylov - financial analyst at Deltastock AD. Click here to join free --- Fundamental Analysis: MPC Meeting Minutes Initial Jobless Claims The Initial Jobless Claims is a seasonally adjusted measure of the number of people who file for unemployment benefits for the first time during the given week. This data is collected by the Department of Labor, and published as a weekly report. The number of jobless claims is used as a measure of the health of the job market, as a series of increases indicates that there are fewer people being hired. On a week-to-week basis, claims are quite volatile. Usually, a move of at least 35K in claims, is required to signal a meaningful change in job growth. A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD. The analyst predicts the future reading of 475.00K. --- Euro Dollar The Euro went on with its bounce from the bottom it reached shortly after the weekly open 1.2733, and scored a high at 1.2914, before dropping to the support we specified in yesterday's report 1.2822 down to the pip. Such a rebound is considered very "modest" comparing to the drop it followed, which came very close to 600 pips! We can clearly see that we have not even reached the first Fibonacci level 38.2%. Technically, the most important event was dropping to another important trend line, which is the rising trend line from June 7th low (please refer to the attached chart). This line which was tested accurately on Monday, is at 1.2802. If this level is broken, we will be already on the way to test this week's low at 1.2733 as a first target, and if broken we will see the Euro dropping to 1.2660. On the other hand, resistance is at 1.2879. Only with a break here will the Euro be able to move forward. If we get this break, we think that the price will rise with the target of reaching Fibonacci levels 1.2962 & 1.3033. Support: * 1.2802: the rising trend line from Jun 7th low on the hourly chart. * 1.2733: this week's low so far. * 1.2660: Jul 6th high. Resistance: * 1.2879: short term Fibonacci 61.8% level. * 1.2962: Fibonacci 38.2% level for the drop from the 3-month high of 1.3332. * 1.3033: Fibonacci 50% level for the drop from the 3-month high of 1.3332. --- USD/JPY The Dollar/Yen bored us yesterday with a very limited trading range, it did not break any of the levels specified in yesterday's report, therefore, there is only a very limited change to yesterday's technical outlook. Let's leave the daily & weekly charts we have been obsessed with lately, and just focus on the hourly chart. We can see that there is a very exciting trend line, dropping from June 4th top. This line is almost at 86.21: the resistance which the price tried to break on Friday, but left it alone shortly after that. Therefore, all of our attention is at the exciting trend lien & the importance it provides. As long as we are trading below this line, the downtrend will be ok, but if we break the resistance 86.21 we will shoot up targeting 87.00 and may be 87.70. Where if we go back to trade below the support 85.09, there will be nothing stopping the price from reaching our awaited target 83.85, and may be at a later time we will see 82.65 as well. Support: * 85.09: yesterday's low. * 83.87: Fibonacci extension level 138.2% for the falling wave from 86.86, compared to the wave which started at 88.10. * 82.65: the trend line combining the monthly lows of Dec 08, Jan & Nov 09, on the weekly chart. Resistance: * 86.21: the falling trend line from June 4th top on the hourly chart, and Aug 10th top. * 87.00: Jul 7th low. * 87.70: June 26th top. --- Forex trading analysis written by Munther Marji for Forexpros. --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
Guest forexpros Posted November 4, 2010 Share Posted November 4, 2010 ForexPros Daily Analysis November 04, 2010 Euro, Pound March Towards Long Target Fed day provided some volatility with Euro and Pound pulling back into their next long setups. Interest rate decisions in the euro area (8:45am est) and the UK (8am est) should provide additional volatility Thursday morning. --- EUR/USD Daily: Euro has just broke range. Not as convincingly as the pound. Marching towards target of 1.4355, from large 50% extension long at 1.3748. Extension longs like to run to their 61.8% line, in this case, 1.467. Still need to watch for real break from range. In 15 minutes, euro holding long at 1.4088, with target at 1.4225. --- GBP/USD Daily:Confirmed its long setups of 50% of 1.539 and 1.5704, with joint targets of 1.6299. 15min: The pound is in its long setup 50% at 1.6079, and is currently being held up by daily pivot at 1.6068. Today the pound pulled back to next setup at 50% at 1.6024. targets at 1.6228, 1.6247. USD/JPY Still in short setups. In extension short at 81.52, with target at 79.55. A retracement would not be strange after hitting its yearly 21.3% target. --- Forex Trading analysis written by Diana Rochford for Forexpros. --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
Guest forexpros Posted November 29, 2010 Share Posted November 29, 2010 ForexPros Daily Analysis November 29, 2010 Free webinar on ForexPros - How to trade during volatile markets Expert: Nour Eldeen M. Al-Hammouri Start: Tue, Nov 30, 2010, 10:00 ET End: Tue, Nov 30, 2010, 11:00 ET In this webinar we are going to give you some simple strategies and indicators which can help daily traders to profit from volatile markets. And we will talk about VIX chart and how it is an indicator for USDX bullish patterns Click here to join free --- Forex Trend Analysis The EURUSD is bearish for this week and will look to move down. Forex Technical Analysis Daily Chart The EURUSD has moved down quite alot for the last week and has now hit the Fibonacci 0.382 support level. At the same time, this level is in confluence with a major support level. 4 Hourly Chart On this time frame, the EURUSD has reached the 1.272 Fibonacci extension level after retracing to 0.618 Fibonacci level. Overall Forex Analysis There may be some upward movement due to the confluence of support of 0.382 on the daily chart and 1.272 on the 4 hourly chart. --- Forex Trading analysis written by Kelvin Lee for Forexpros. --- New on Forexpros the Forex Brokers Directory! --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
Guest forexpros Posted December 20, 2010 Share Posted December 20, 2010 ForexPros Daily Analysis December 20, 2010 Today: Free webinar on ForexPros - Using Fibonacci ratios to manage your trades efficiently Expert: EcPulse Start: Mon, Dec 20, 2010, 10:00 ET End: Mon, Dec 20, 2010, 11:00 ET Fibonacci ratios are a very popular tool among technical traders and price has an uncanny way of respecting Fibonacci ratios. There are different kinds of Fibonacci ratios like, retracements, expansions, projections, fans etc, and each of them have a different characteristic and a different use. Learn to identify the situations to use the correct Fibonacci ratio. Click here to join free --- Euro Dollar: Friday's action seems to confirm the short at 1.33777, with a target of 1.27715. I would like to see a close below 1.31445 to confirm the short. On 15 min chart in next measured move short, an extension with 50% at 1.31873, with target at 1.31084. If it breaks 1.32009, we can go full half way back short at 1.33136. Pound: Pound short is in full swing. On Friday, pound broke previous lows at 1.55039, but closed above it. Target for 50% short at 1.58919 is at 1.52892. Pound currently in next measured move short. On 15 min chart, Pound reacting to next 50% short at 1.55452 (with daily pivot at 1.55439) and target at 1.54374. If we break the measured move (1.55674) pound could go full half way back at 1.56793. Yen: Still stuck in its wide range between 50% long of 82.345 and 50% short of 84.592. Currently bouncing off 50% long at 83.667 (within the range), with a target of 84.78. --- Forex Trading analysis written by Diana Rochford for Forexpros. --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
Andry Posted December 25, 2010 Share Posted December 25, 2010 It's okay to give some sharing of analysis of pair in each day but seems like there is no response of this analysis. I think people who interested in forex matter are so low in this thread. Maybe we should talk about something more than about analysis. I think tutorial and sharing experience will be better. Link to comment Share on other sites More sharing options...
Guest forexpros Posted February 2, 2011 Share Posted February 2, 2011 ForexPros Daily Analysis February 02, 2011 Today: Free webinar on ForexPros - Technical Analysis:Elliot Wave Basics Expert: Mark Dela Paz Start: Wed, Feb 2, 2011, 10:00 ET End: Wed, Feb 2, 2011, 11:00 ET Before mathematicians started applying a chaos theory to financial markets, technical analysts have been using fractal geometry to identify, classify, and anticipate financial markets. Learn and explore Elliot Wave Theory and how it can be used for assesing market conditions. Click here to join free --- Euro Dollar: On the daily, the euro hit its target of 1.38367 from its extension long of 1.35966. The euro clearly breached its 61.8% of the euro setup. On the 15 minute chart, you can clearly see the euro hitting its target. Can expect some pullback, but best to remain with the trend until it clearly breaks. Cannot ascertain next measured move since euro has yet to pullback. Pound: On the daily, the pound clearly broke it previous highs of 1.60596, and is moving towards its target of 1.62138 from its 50% at 1.52622. Previous high of 1.63034 may act as resistance. On 15 min chart (actually I cheated and I used the 1 hour chart to be able to show it on the chart), can see pound heading towards target at 1.62124. R1 at 1.61988 may act as resistance. Pound has yet to pullback and so next measured move cannot be drawn. Yen: On the daily, the yen confirmed its short from the 50% at 84.592, with a target at 78.227, which would be an all-time low. The yen clearly broke its long and 61.8% at 81.971. April 1995 support levels hit again at the beginning of 2011 at 80.914 may act as support, as well as the previous low at 80.2 hit in November 2010. All time low is at 79.7 reached April 1995. --- Forex Trading analysis written by Diana Rochford for Forexpros. --- New on Forexpros the Forex Brokers Directory! --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
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