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Wednesday February 18, 2009 - 11:15:46 GMT
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Forex Blog - EUR/USD UpdateAs posted on GVI Forex:
GVI Forex Jay 11:04 GMT February 18, 2009
- Wednesday is often a correction day â€“ we will see
- Risk remains on downside but getting some relief from easing in cross pressures (e.g. eur/gbp, eur/chf)
- EUR/USD still holding above 1.2550, suggests some defense of this key chart point
- Key resistance is at 1.2640, the intra-day and yesterdayâ€™s NY session high
- Bias will remain negative as long as eur/usd stays below 1.2707
- Watch stocks today ahead of Obamaâ€™s speech. Stocks rallied sharply when it was first announced that Obama was formulating a housing support plan.
- Bernanke testifies today â€“ I canâ€™t remember the markets rallying when Ben speaks.
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Amazing Trader EVENT RISK Calendar:
Wed 18 Oct /ul>
12:30 US- Housing Starts & Permits
14:30 US- EIA Crude
Thu 19 Oct
01:30 AU- Employment
08:30 GB- Retail Sales
12:30 US- Weekly Jobless
Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales
John M. Bland, MBA
- POTENTIAL PRICE RISK: HIGH Tue-- 08:30 GMT GB- CPI top tier confirmation of Inflation.
- POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT DE- ZEW Survey second most important German monthly Survey.
- POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT EZ- final HICP revision to flash report. Revisions are usually minor.
- POTENTIAL PRICE RISK: Medium Tue-- 13:15 GMT US- Industrial Production. Top output indicator.
- POTENTIAL PRICE RISK: Medium Wed-- 12:30 GMT US- Housing Starts and Permits revision to flash report. Useful housing leading indicator.
- POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top WTI inventory measure.
- POTENTIAL PRICE RISK: Medium Thu-- 01:30 GMT AU- Employment. Top economic indicator.
- POTENTIAL PRICE RISK: Medium Thu-- 02:00 GMT CN- GDP. Top economic indicator.
- POTENTIAL PRICE RISK: HIGH Thu-- 08:30 GMT GB- Retail Sales. Top consumption indicator.
- POTENTIAL PRICE RISK: Medium Thu-- 12:30 GMT US- Weekly Jobless. Employment Indicator.
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