Bookmark Us Euro Couldn t sustain the
bullish momentum on Friday afternoon as seen the previous days.
Technically bullish above former overhead resistance now support
which comes in at 1.5093 today. More support at the former all time
high of 1.4967 (break out level). How far this move will extend is
difficult to estimate as we are basically in unchartered territory,
so I remain bullish until a clear reversal pattern develops. Have
short term rising support down at 1.4944 as well today.
Support: 1.5093 (former overhead res), 1.4967(former high), 1.4944
(rising sup), 1.4750 (break out level), 1.4737 (rising support),
1.453, 1.4360, 1.4336 (key swing level) Resistance: 1.5239
(Friday s high) 240 min Rising support at 1.4903 and
1.4751.
Cable Trading inside a rising bull channel
and support is 1.9740 for today, so need to hold this level to keep
the bullish momentum alive. As outlined yesterday the key
resistance level is 1.9960, which is a stiff resistance level and
it held up on the 2nd test as on Thursday last week. Keep a close
eye on this level.
Support: 1.9740 (rising support), 1.9736 (break out level), 1.9640
(yesterday s low), 1.9500 (break out level), 1.9360, 1.9337
(key Jan low), 1.9310 Resistance: 1.9960 (key level), 2.0100,
2.0170 (Key level) 120 min On this chart you can see that
the short term rising support at 1.9832 was broken Friday, so
should see some consolidation or break lower near term. Break above
the 1.9960 would be bullish signal.
USDCHF Solid break lower as CHF has outperformed
the Euro over the last week as risk reduction has supported CHF.
EURCHF testing some good support levels this morning that could
hold up and see it bounce higher(meaning CHF weaker across the
board), especially if stocks rebound from the recent slump.
Don t really have much support levels to go by as it is
trading in unchartered territory, have underlying support from June
07 low coming in at 1.0050, which is way below the current level.
Have resistance at former support lines at 1.0430 and 1.0667 today,
with the key point being former all time low at 1.0728 now.
Support: 1.0050 (underlying support going back to June 07)
Resistance: 1.0430 (former sup line), 1.0554 (former support),
1.0667, 1.0728 (prior low), 1.0936 (break down level), 1.0950
(falling res), 1.1067 (overhead res), 1.1120, 1.1205(former support
level), 1.1350(former support), and 1.1441 (key falling resistance
from Jun 07 highs)
USDJPY As indicated last week
the break below 107.04 support line of the consolidation pattern
was a bearish signal and saw a new multi year low overnight. Also
broke below the underlying support at 103.30 that didn t hold
up on even the first test. Looks very much up to the stock market
what happens in this pair and with Asian markets falling heavily
overnight the JPY moved stronger across the board, but any rebound
should see profit taking in JPY. Yen is approaching some key levels
with 2005 low of 101.67 in sight, so should have a bit potential to
bounce if that level is tested.
Support: 101.67 (2005 low) Resistance: 104.95 (former 2008 low),
105.70 (former key support), 107.04 (former rising support), 107.52
(falling res), 108.63 (overhead res), 110.00, 110.70, 112.80 (key
level) 114.60 (key level), 114.73 (reaction high 11/7-07)
EURJPY From Friday Took out rising support
at 159.92 overnight that indicates the recent bullish momentum is
halted and indicates lower levels near term. Spot on there
with EURJPY tumbling over the last sessions. Next support level is
now 155.53 followed by 154.04 (key support). Have falling
resistance coming in at 161.08 today and key resistance remains
161.60.
Support: 155.04, 154.04, 153.75 (long term rising trend line)
Resistance: 161.08 (falling res), 161.60 (minor res), 162.17 (key
res)
USDCAD Bearish outlook intact below the Jan
low of 0.9870 today. Former support line coming in at 0.9975 (now
resistance) today and falling resistance is all the way up at
1.0133. Support: 0.9710 (28/2 low), 0.9639 (underlying support)
Resistance: 0.9950(break down level), 1.0133 (short term falling
res), 1.0222(overhead res), 1.0280 (falling res from Aug 07 high),
1.0380 (key level, overhead res), 1.0400(former key support.)
EURGBP Somewhat of a weak close Friday that
signals some selling interest towards the 0.7680 level. Technically
still bullish above 0.7612 break out level. Former overhead
resistance (now possible support) coming in at 0.7572 today and
rising support coming in at 0.7487 today. Support: 0.7612 (former
high), 0.7572 (former overhead res), 0.7495 (former res), 0.7487
(rising support), 0.7400, 0.7387 (rising sup), 0.7284 (rising
support)
Resistance: 0.7677 (Friday s high) Content Provided by:
Forexpros Daily Analysis
Written By Jason Alan Jankovsky
Forex
Trading Edge - 03-03-2008 |
General Overview
Currency Pair Overnight Asia/Europe USD two-sided
in technical trade Equities weaker pressuring USD/JPY
Carry trade liquidation seenToday s Economic Reports
9:00 AM CST ISM Index forecast 49.0Looking Ahead ...
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Economic Calendar
Global Economic Calendar
Date Time(GMT) Currency Importance Event Actual Forecast Previous
Mar 3 00:30 AUD Company Gross Operating Profits 3.90% 2.00% -2.10%
01:30 JPY Average Cash Earnings 1.00% 0.00% -1.70% 08:30 CHF SVME
PMI 60.50% 60.50% 61.60% 08:55 EUR German Manufacturing PMI 54.30%
54.00% 54.40% 09:00 EUR Manufacturing PMI 52.30% 52.30% 52.30%
09:30 GBP Manufacturing PMI 51.30% 51.00% 50.60% 10:00 EUR CPI
3.20% 3.20% 3.20%
13:30 CAD GDP -0.70% -0.20% 0.10% 15:00 USD ISM Manufacturing Index
48.30% 48.00% 50.70% 15:00 USD ISM Manufacturing Prices 75.50%
73.00% 76.00% 15:00 USD Construction Spending -1.70% -0.60% -1.10%
20:00 USD Domestic Vehicle Sales 11.70M 11.90M 11.70M 23:50 JPY
Monetary Base 0.10% 0.10% -0.10%
Full Economic
Calendar
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0.06% | 1.5834 GBP/USD 0.34% |
1.9785 USD/JPY -0.10% | 100.74
USD/CHF -0.33% | 0.9969
AUD/USD -0.52% | 0.9243
EUR/GBP -0.26% | 0.8003
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Forexpros Daily Analysis - Evening session -
GMT
Written By
Jason Alan Jankovsky Forex Trading Edge -
11-04-2008 | General Overview Currency Pair
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Ends mixedOvernight Preview G7 communiqu out
tonight, expect volatility on SundayLooking Ah ... Read
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oscillators support the bearish trend for the
14-04-2008 | Forex Technical Analysis | Finotec Trend
is looking for a rebound. Technical oscillators s card credit service wireless
Technical oscillators support the bullish trend for the
Data shows mixed directions, but I prefer to follow the G7
concern sees Euro profoundly weak against U.S. dolla
14-04-2008 | Signals | Finotec credit security service union
Economic Calendar
Forexpros.com
Global Economic Calendar (GMT) Date Time Currency
Importance Event Actual Forecast Previous credit report service
Apr 14 01:30 AUD Home Loans -5.90% 0.50%
2.30% Description determines the level of
commitments for owner occupied home financing. An upward trend
has a positive effect on the country s currency as large
purchases tend to be made by consumers that are optimistic and
confident in their financial position. 08:30 GBP PPI
Input 1.80% 1.80% 1.70% The Producer Price Index (PPI)
determines the rate of inflation (i.e., the rate of price
changes) experienced by manufacturers when purchasing goods and
services. When manufactures pay more for goods and services,
they are likely to pass the higher costs to the consumer, so
PPI is thought to be a leading indicator of consumer inflation.
A rising trend has a positive effect on the nation s
currency. PPI is highly regarded, and at extremes will have a
market impact equal to that of its CPI counterpart. blogspot com christian
08:30 GBP PPI Output 0.90% 0.50% 0.30% The
Producer Price Index (PPI) Output determines the rate of
inflation (i.e., the rate of price changes) experienced by
manufacturers when selling goods and services. Manufacturers
are unlikely to pass Output inflation to the consumer.
Therefore it has much less market impact than its PPI Input
counterpart. 09:00 EUR Industrial Production
0.30% 0.20% 0.90% christian counseling credit
determines the total worth of output produced by factories,
mines, and utilities. Industrial Production reacts quickly to
the volatility of the business cycle and can be a leading
indicator of manufacturing employment, average earnings, and
personal income. An upward trend has a positive effect on the
country s currency as high levels of production are a sign
of a strong economy. credit federal service union
12:30 CAD New Motor Vehicle Sales -1.50%
8.20% determines the unit sales for new vehicles. Vehicle sales
accounting for roughly 25% of total retail sales. A rising
trend has a positive effect on the nation s currency as
demand for vehicles, as with other expensive durable goods, has
historically been a leading indicator of trends in overall
consumption. 12:30 USD Core Retail Sales 0.10%
-0.20% credit monitoring service
Derivative of Retail Sales that omits the Automobile Sales
component. Retail Sales with the exclusion of this volatile
component is thought to be a better indicator of the underlying
trend in consumption. Automobile Sales make up roughly 25% of
Retail Sales, but they can be very volatile from month to month
and can distort the picture. credit division service
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