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  1. #21
    forexpros
    Guest

    Default Forexpros.com Daily Analysis - 25/10/2010

    ForexPros Daily Analysis October 25, 2010


    Free webinar on ForexPros - Forex Fundamentals
    Expert: Curt Wehrley
    When: Tuesday, Oct 26, 2010, 10:00 ET

    A review of the top fundamental news events over the prior month, and a look ahead and the news that could influence the foreign exchange market over the coming weeks.


    Click here to join free

    ---

    Forex Analysis For GBP/USD and GBP/JPY


    1) Forex Trading Signal For GBPJPY

    Forex Trend Analysis

    The overall trend for this currency pair is DOWN for the week

    Forex Technical Analysis

    Weekly Chart
    Similar to the movement last week, the GBPJPY pair continues to move within the trend channel and in fact testing the 127.616 previous swing low.

    4 Hourly Chart
    On the 4 hourly chart, you will also see a trend channel in action. At the time of writing this analysis, the price has fell to test the support trend line of the trend channel.

    Overall Forex Analysis
    I will go SHORT for this pair but I have to make sure that the price successfully broken the trend channel before considering any SHORT trade.

    Important Levels of Support To Note
    • 127.077
    • 126.735

    ---


    2) Forex Trading Signal For GBPUSD

    Forex Trend Analysis

    From the trend analysis that I have done on several time frames, the trend for this pair is DOWN for the week.

    Forex Technical Analysis

    4 Hourly Chart
    The GBPUSD on this time frame is trying to break above the resistance trend line which is at the same level as the Fibonacci 0.500. At the time of writing, the price has failed to break above and instead is being repelled by the resistance trend line.

    Hourly Chart
    After testing the M4 Daily pivot for 4 times consecutively, the price has fallen sharply showing the strength of that resistance level. In fact, at that level, there is also a 0.500 Fibonacci resistance which adds on to the power of that level.

    Overall Forex Analysis
    I will go SHORT for this pair and the best will be after it broke below the strong support at 1.56573.

    Important Levels of Support To Note
    • 1.56573

    ---


    Forex trading analysis written by Kelvin Lee 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.

  2. #22
    forexpros
    Guest

    Default ForexPros Daily News October 26, 2010

    ForexPros Daily News October 26, 2010


    Forex - GBP/USD soars to 4-day high after upbeat U.K. GDP data

    Forex Pros – The pound was up against the U.S. dollar on Tuesday, soaring to a 4-day high after the release of significantly better-than-expected U.K. third quarter GDP data.

    GBP/USD hit 1.5869 during European morning trade, the pair’s highest since October 20; the pair subsequently consolidated at 1.5859, soaring 0.87%.

    Cable was likely to find support at 1.5663, Monday’s low and resistance at 1.6002, the high of October 18.

    Earlier in the day, the U.K. Office for National Statistics said that GDP increased by a seasonally adjusted 0.8% in the third quarter, after rising by a revised 1.2% in the preceding quarter. Analysts had expected GDP to rise 0.4% in the third quarter.

    The report said that the increase was due to strong growth in the services, production and construction sectors. Total services output rose 0.6% in the third quarter while total production output also rose 0.6% and construction output rose 4.0%.

    The pound was also up against the euro, with EUR/GBP tumbling 0.89% to hit 0.8802.

    Later in the day, the U.S. was to release industry data on consumer confidence and house prices as well as official data on manufacturing.

    ---


    Forex - EUR/USD turns lower as dollar sentiment firms up

    Forex Pros – The euro edged lower against the U.S. dollar on Tuesday, falling to a 2-day low, as the dollar firmed up on the sense that expectations for further monetary easing by the Federal Reserve were already priced into the market.

    EUR/USD hit 1.3907 during early European trade, the pair’s lowest since October 22; the pair subsequently consolidated at 1.3949, shedding 0.10%.

    The pair was likely to find support at 1.3857, Friday’s low and resistance at 1.4157, the high of October 15 and an 8-month high.

    Earlier in the day, data showed that Germany’s Gfk consumer climate outlook for November remained unchanged at 4.9, after rising for in the four preceding months. Analysts had expected the outlook for November to rise to 5.2.

    The economic expectation indicator rose by 2.5 points in October to 56, up for the fifth consecutive month. The report said that consumers expect that the German economy will continue to recover based on positive trends in the labor market.

    Also Tuesday, official data showed that German import prices rose more-than-expected in September.

    Meanwhile, the euro was down against the pound, with EUR/GBP shedding 0.40% to hit 0.8846.

    Later in the day, the U.S. was to release industry data on consumer confidence and house prices as well as official data on manufacturing.

    ---

    Daily
    Forex News Provided By Forexpros

    ---

    Disclaimer:
    Fusion Media will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All stock prices, indexes, futures and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.

  3. #23
    forexpros
    Guest

    Default ForexPros Daily News October 27, 2010

    ForexPros Daily News October 27, 2010


    Forex – EUR/USD tumbles to 5-day low on Fed easing doubts

    Forex Pros – The euro was down against the U.S. dollar on Wednesday, tumbling to a 5-day low after signs emerged that the second round of quantitative easing by the Federal Reserve may not be as large as anticipated.

    EUR/USD hit 1.3772 during late Asian trade, the pair’s lowest since October 20; the pair subsequently consolidated at 1.3774, shedding 0.61%.

    The pair was likely to find short-term support at 1.3697, the low of October 20 and resistance at 1.3981, Tuesday’s high.

    Late Tuesday, a report in the Wall Street Journal said that the Fed is likely to unveil a program of U.S. Treasury bond purchases worth a few hundred billion dollars over several months. The report was contrary to rising market expectations of purchases in excess of USD 1 trillion.

    The report said that the bank favored an approach that allowed them to adjust policy as the economic recovery unfolded, with the ability to make more purchases in the future if necessary.

    The euro was also down against the pound, with EUR/GBP shedding 0.06% to hit 0.8741.

    Later in the day, the U.S. was to publish data on durable goods orders and new home sales.

    ---


    Forex - AUD/USD down on economic data

    The Australian Dollar was lower against the U.S. Dollar on Wednesday after the release of Australian data on CPI.

    AUD/USD was trading at 0.9744, down 1.11% at time of writing.

    The pair was likely to find support at 0.9720, today’s low, and resistance at 0.9974, Monday’s high.

    Earlier in the day, official data showed that Australian consumer price inflation rose less-than-expected to a seasonally adjusted 0.70% in the last quarter from 0.60% in the preceding quarter.

    Analysts had expected CPI to rise 0.80% in the last quarter.

    Meanwhile, the Australian Dollar was down against the Euro and the Japanese Yen, with EUR/AUD gaining 0.82% to hit 1.4182 and AUD/JPY falling 0.71% to hit 79.68.

    ---

    Daily
    Forex News Provided By Forexpros

    ---

    Disclaimer:
    Fusion Media will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All stock prices, indexes, futures and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.

  4. #24
    forexpros
    Guest

    Default ForexPros Daily News October 28, 2010

    ForexPros Daily News October 28, 2010


    Forex - EUR/USD hits daily high as dollar reverses uptrend

    Forex Pros – The euro was up against the U.S. dollar on Thursday, rising to hit a daily high as the dollar reversed its recent uptrend.

    EUR/USD hit 1.3853 during late Asian trade, a daily high; the pair subsequently consolidated at 1.3812, gaining 0.32%.

    The pair was likely to find support at 1.3697, the low of October 20 and resistance at 1.3981, Tuesday’s high.

    Earlier in the week, the dollar had been boosted by a report that the U.S. Federal Reserve was likely to unveil a program of U.S. Treasury bond purchases worth a few hundred billion dollars over several months. The report was contrary to rising market expectations of purchases in excess of USD 1 trillion.

    The euro was also up against the pound, with EUR/GBP gaining 0.41% to hit 0.8767.

    Later in the day, the U.S. was to release key weekly data on initial jobless claims.

    ---


    Forex - USD/JPY hits 2-day low as BOJ hold steady on policy

    Forex Pros – The U.S. dollar fell to a to a 2-day low against the yen on Thursday, after the Bank of Japan held its benchmark interest rate steady but moved the date of its next policy meeting up to just after the next meeting of Federal Reserve policy makers.

    USD/JPY hit 81.23 during European morning trade, the pair’s lowest since October 26; the pair subsequently consolidated at 81.35, shedding 0.51%.

    The pair was likely to find support at 80.61, the low of October 26 and resistance at 81.97, Wednesday’s high.

    Earlier in the day, the Bank of Japan kept its benchmark interest rate unchanged in a range of 0.0% to 0.1%, in line with expectations. The bank said it moved its meeting to November 4-5 from mid-November to speed up the roll-out of a JPY 5-trillion asset buying plan, which the bank unveiled early this month.

    The BOJ made no mention of the Federal Reserve November 2-3 rate review but the move sparked speculation that the BOJ wanted to be able to act quickly in the event of further yen gains.

    The yen was also up against the euro, with EUR/JPY shedding 0.23% to hit 112.32.

    Also Thursday, official data showed that Japanese retail sales rose significantly less-than-expected in September, rising at the slowest pace this year.

    ---

    Daily
    Forex News Provided By Forexpros

    ---

    Disclaimer:
    Fusion Media will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All stock prices, indexes, futures and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.

  5. #25
    forexpros
    Guest

    Default Forexpros.com Daily Analysis - 02/11/2010

    ForexPros Daily Analysis November 02, 2010


    Pound Trying to Break Range, Yen Near All Time Low

    ---


    Euro Dollar

    The euro is in a range, in a wedge. The range is narrowing into a wedge.Euro is holding extension long setup at 1.3748, with target at 1.4355.Larger multi year short at 1.3396, is acting as resistance. Near a clear break of 1.416 or 1.369 for direction.
    On a 15 min chart, euro holding a dirty long (setup broke in its previous measured move long). Target is 1.4075.

    ---

    GBP/USD

    Looks stronger than the euro, and is knocking at the top of its range. Pound is in long setup at 1.5704, with target at 1.6297, which coincides with target of longer term long from 1.539. The multiyear short, 61.8% line at 1.5967 has acted as strong resistance.
    On 15 min chart, the pound has been in measured moves longs and is currently holding and front running the long at 1.5983, with target at 1.614.

    ---


    USD/JPY

    Yen hit new yearly low at 80.23 and close to breaking all time lows at 79.7. This is a major area of support and we must remain alert for possible Bank of Japan intervention. Trade carefully.On the 15 min chart. In measured moves short, off 50% at 80.75, target at 80.116. Larger 50% at 81.108, with target at 79.823.

    ---


    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.

  6. #26
    forexpros
    Guest

    Default Forexpros.com Daily Analysis - 04/11/2010

    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.

  7. #27
    forexpros
    Guest

    Default Forexpros.com Daily Analysis - 08/11/2010

    ForexPros Daily Analysis November 08, 2010


    Forex Analysis For EUR/USD, GBPUSD and GBP/JPY

    1) Forex Trading Signal For GBPJPY

    Forex Trend Analysis

    The overall trend for this pair is DOWN for the week.

    Forex Technical Analysis

    Weekly Chart
    For the GBPJPY, the price failed to break below the support level of 126.791 last week and has move upward toward its resistance level. The trend channel resistance level is pretty strong as it has been retested several times before. (See Middle Top Attached Picture)

    4 Hourly Chart
    An upward trend channel has been formed on this time frame which is opposite to the trend channel formed on the weekly chart. At the time of writing, the price has hits the resistance level and is moving down.

    Hourly Chart
    On the hourly chart, you well see the formation of a MACD negative divergence which is a sign that the price will move down. (See Bottom Attached Picture)

    Overall Forex Analysis
    The MACD negative divergence on the hourly chart is in confluence with the price hitting the resistance level on the 4 hourly chart. Therefore there is a high chance that the price will move down and there is an opportunity to go SHORT.

    2) Forex Trading Signal For
    EURUSD

    Forex Trend Analysis

    The overall trend for EURUSD is bullish for the week.

    Forex Technical Analysis

    Weekly Chart
    The formation of several spinning tops and inverted hammer shows that the price is in a state of indecision and maybe looking to move back down. However the down move is being supported by a Fibonacci 0.382 level. (See Top Right Attached Picture)

    Daily Chart
    Last week, the price has finally fulfilled its full Fibonacci extension by hitting the 1.618 level.

    Overall Forex Analysis
    There are opportunities to go SHORT this week due to the reversal candlestick patterns as well as the price fulfilling its full Fibonacci run.

    3) Forex Trading Signal For GBPUSD

    Forex Trend Analysis

    The overall trend for this pair is UP for this week as there is a strong upward trend on the hourly, 4 hourly and daily charts.

    Forex Technical Analysis

    Weekly Chart
    There is a Gartley pattern formation on this pair and there is a trading opportunity at 1.77860. (See Top Left Attached Picture)

    Hourly Chart
    At the time of writing, the price has broken below a trend channel formation and it constitutes a breakout trade. However it is too late to enter any trade now and if you are interested in trading this breakout, you can wait for the price to come back to retest this trend channel.

    Overall Forex Analysis
    In the short run, you can trade the breakout but in the long run, it seems that the price is heading up towards the 1.77860 level and you should be looking to trade the Gartley pattern

    I will keep you updated about the Gartley pattern formation again.

    ---


    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.

  8. #28
    forexpros
    Guest

    Default Forexpros.com Daily Analysis - 09/11/2010

    ForexPros Daily Analysis November 09, 2010


    Free webinar on ForexPros - Trading Forex and Commodities in an Innovative Way!

    Expert: Luca Discacciati

    Start: Wed, Nov 17, 2010, 10:00 EST
    End: Wed, Nov 17, 2010, 11:00 EST

    In this webinar Luca will explain how to trade forex and commodities (gold, silver, brent) in an innovative way using some indicators of 'technical analysis'.

    This webinar is very practical oriented, the goal is to enable the webinar users, to start work immediately in the markets.

    On this occasion, will be given special attention to risk control, the only tool necessary to dominate the leverage.


    Click here to join free

    ---

    Euro, Pound Pulling Back to Next Long Setup. Yen Still in Short

    Technically we are still in long setups. We are pulling back to the next long, ready for the next leg. Hard to say otherwise until we break below these levels.

    Euro: The next extension long is at 1.3808. The line in the sand is 1.3696. A move below here may indicate a larger pull back. The target on the new long is 1.4503.

    On the 15 min chart, we are in measured moves short. The euro reacted off it short (third measured move) at 1.3901, with a target at 1.3821. We are below the daily pivot at 1.3963, which may keep pressure on the shorts. At the moment S1 at 1.3842 is holding the market.

    Pound: Hit its target on the daily chart and is now pulling back into its next long setup. The next traditional long setup is at 1.5976, with target at 1.646. Extension long is at 1.6, with 61.8% at 1.6053. If this breaks it can indicate it will pullback to its traditional long at 1.5976.

    On 15min chart, between short at 1.6163 and long at 1.6079. Daily Pivot at 1.615 may place downwards pressure. Need to breakout either way to confirm direction.

    Yen: Still in a short setup. Reacting off its next extension short at 81.49, with a target at 79.56.

    ---

    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.

  9. #29
    sabrinathomas
    Guest

    Default

    USD Dollar (USD) 09/11/2010– The Dollar continues to advance versus the other major currencies after Friday’s better than expected U.S. jobs data eased pressure on the Dollar in the wake of the Federal Reserve’s asset purchase plan announcement.

  10. #30
    sabrinathomas
    Guest

    Default

    British Pound (GBP) 09/11/2010– The Pound was down against the Dollar, falling to a 2 day low as the Dollar recovered ground on the back of Friday’s data .The main momentum of the GBP/USD is absolutely bullish, although it has fallen in the last two days.

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