Forex News Blog
Back to The Headlines
Tuesday November 17, 2009 - 10:04:31 GMT
Share This Story
Forexpros - www.forexpros.com
Forexpros Daily Analysis - 17/11/2009Forexpros Daily Analysis Nov. 17, 2009
Fundamental Analysis, Australia
â€¢ Tuesday: Reserve Bank's Board November Minutes (Text Report).
â€¢ Wednesday: Westpac Leading Index (Previous 1.1%, Expected N/A).
â€¢ Thursday: Average Weekly Wages QoQ (Previous 1.2%, Expected N/A)
& YoY (Previous 6.1%, Expected N/A).
More on AUD/USD and other currencies on Forexpros.
The Euro moved in both directions, breaking both the support &
resistance specified in yesterday's report, without being able to reach
the target in both cases. We have witnessed a swift move during
yesterday's trading, when the Euro dropped very fast to 1.4879 only to
rise with the same light speed to 1.5014. This move has founded an
important support at 1.4879, where the rising trendline from November
3rd bottom meets yesterday's low. If this support is broken, we will be
heading to a test of Fibonacci 61.8% at 1.4782, which is also an
important level. As for the resistance, after the price behavior we
witnessed in the past few days, the area 1.4982-1.5018 became a
gathering for several short-term resistance levels that are very close
to each other. We will choose the lower limit of that area as our
resistance of the day, if 1.4982 is broken, we will see price levels
that have not been seen this year, as we will target 1.5082 first, then
â€¢ 1.4934: short-term support.
â€¢ 1.4879: the rising trendline from Nov 3rd bottom, and yesterday's low.
â€¢ 1.4782: Fibonacci 61.8% for the rising move from 1.4625.
â€¢ 1.4982: the lower limit of the resistance area 1.4982-1.5018.
â€¢ 1.5082: previous resistance from 2008.
â€¢ 1.5145: previous resistance from 2008.
Dollar-Yen broke the support specified in yesterday's report 89.46, and
reached the first suggested target 88.82 successfully, in a long
awaited visit to areas below 89. Now, the price is trying hard to hold
above 89, after establishing a support at 88.90. If this level holds,
we will see a correction of yesterday's drop, while breaking this level
in specific indicates a continuation of the downside movement towards
88.13, which is the last important support before the last 15 years low
87.10. As for the resistance, the most important for short-term is
November 11th low 89.23, breaking it would initiate a correction that
would ideally target 89.88. This level is the most important resistance
at the moment, and a candidate to initiate a new down move (of course
that is in we get there), only breaking this level would change our
expectations to the upside, when we target 90.73.
â€¢ 88.90: obvious support on the hourly chart.
â€¢ 88.13: Oct 13th low.
â€¢ 87.10: Jan 12th low.
â€¢ 89.27: Nov 11th low.
â€¢ 89.88: Fibonacci 61.8% for short-term.
â€¢ 90.73: intraday top.
Analysis by Forexpros - Written by Munther Marji.
For charts and other trading tools see Forexpros.
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
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."
Elevate Your Trading With The Amazing Trader!
The Amazing Trader includes:
Register To Test Your Amazing Trader
- Actionable trading levels delivered to YOUR charts in real-time.
- Live trading strategy sessions.
- Market Updates with Trading Tools.
Trading Ideas for 11 December 2017
Register for the Amazing Trader
Amazing Trader EVENT RISK Calendar:
Tue 12 Dec
09:30 GB- CPI
10:00 GB- ZEW Survey
13:30 US- PPI
Wed 13 Dec
00:30 AU- Employment
09:30 GB- Unemployment
13:30 US- CPI
15:30 US- EIA Crude
19:00 US- Fed Decision
Thu 14 Dec
07:30 CH- SNB Decision
All Day- Global- flash PMIs
12:00 GB- Bank of England Decision
12:45 EZ- ECB Decision
13:30 US- Retail Sales
13:30 US- Weekly Jobless
14:45 US- Industrial Production
Potential Trading Opportunities
John M. Bland, MBA
- POTENTIAL PRICE RISK: Mediun Tue--10:00 GMT-- DE- ZEW. Second Tier Sentiment Survey
- POTENTIAL PRICE RISK: HIGH-Medium Tue--13:30 GMT-- US- PPI
- POTENTIAL PRICE RISK: HIGH-Medium Wed--09:30 GMT-- GB- Employment
- POTENTIAL PRICE RISK: HIGH Wed--13:30 GMT-- US- CPI
- POTENTIAL PRICE RISK: Medium Wed--15:30 GMT-- US- EIA Crude
- POTENTIAL PRICE RISK: High Wed--19:00 GMT-- US- Fed Decision
- POTENTIAL PRICE RISK: HIGH- Thu --00:30 GMT-- AU- Employment
- POTENTIAL PRICE RISK: Medium- Thu --All day-- global- flash PMIs
- POTENTIAL PRICE RISK: HIGH-Medium- Thu --07:30-- CH- Swiss National Bank Decision
- POTENTIAL PRICE RISK: HIGH-Medium- Thu --09:30-- GB- Retail Sales
co-founding Partner, Global-View.com
EXCLUSIVE: Global-View Daily Trading Chart Points Updated
EXCLUSIVE: Global-View Free Forex Database updated
TRADER ADVOCACY ARTICLES
Trader's Advocate Articles..