Forex News Blog
Back to The Headlines
Thursday November 19, 2009 - 10:10:52 GMT
Share This Story
Forexpros - www.forexpros.com
Forexpros Daily Analysis - 19/11/2009Forexpros Daily Analysis Nov. 19, 2009
The Bank of Japan is due to hold a press conference Tomorrow (NOV 20).
The Bank regularly uses press releases in order to communicate with
investors. Topics at such conferences generally include economic
outlook, inflation and changes in interest rates.
For more on USD/JPY, USD/NZD and other currency majors see Forexpros.
The Euro broke the resistance 1.4935, and came very close to our first
suggested target at 1.4998, when it reached a top at 1.4990, before
retreating back to 1.49 this morning. Short-term resistance is provided
by the falling trendline from yesterday's high on the intraday charts,
which is currently at 1.4931. If this resistance is overtaken, then the
technical outlook will have the strength to reach 1.4998 first, and if
this is broke we have the right to expect 1.5082 for the first time
this year. As for the support, stopping near Fibonacci 50% for the
rising move from 1.4806 to yesterday's top 1.4990 makes it an important
support at 1.4898, but the most important support is at 1.4786, and if
broken we will be heading towards November 13th bottom 1.4820 first,
then the most important support at this stage 1.4786, where there is
Fibonacci 61.8% for the rise from 1.4625 to 1.5047. Especially with the
rising line from August 17th low getting close to this.
â€¢ 1.4876: Fibonacci 61.8% for the rise from 1.4806 to 1.4990.
â€¢ 1.4820: November 13th low.
â€¢ 1.4786: Fibonacci 61.8% for the rising move from 1.4625, the most important support for the medium-term.
â€¢ 1.4931: the falling trendline from yesterday's top on the intraday charts.
â€¢ 1.4998: intraday top from Monday.
â€¢ 1.5082: previous resistance from 2008.
Dollar-Yen is still holding on above 89 , but on the other hand it was
not able to surpass the previous top at 89.52. Now, the price is trying
hard to hold above 89, where Fibonacci 61.8% for the short-term is at
89.01. If this level holds, we will see an upward correction, 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 89.87. This level is
the most important resistance at the moment, and a candidate to
initiate a new down move (of course that is in case we get there), only
breaking this level would change our expectations to the upside, when
we target 90.73.
â€¢ 89.01: short-term Fibonacci 61.8%
â€¢ 88.13: Oct 13th low.
â€¢ 87.10: Jan 12th low.
â€¢ 89.27: Nov 11th low.
â€¢ 89.87: Fibonacci 61.8% for short-term.
â€¢ 90.73: intraday top.
Analysis by Forexpros - Written by Munther Marji.
For information on Central Banks 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."
Actionable trading levels delivered to YOUR charts in real-time.
Register To Test Your Amazing Trader
GVI Trading. Potential Price Risk Scale
Tue 17 July 2018
AA: Major, A: High, B: Medium
AA 08:30 GB- Employment
A 13:15 US- Industrial Production
AA 14:00 US-Powell Testimony
Wed 18 July 2018
AA 08:30 GB- CPI
A 12:30 US- Housing Starts/Permits
AA 14:00 US-Powell Testimony
Thu 19 July 2018
AA 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 14:30 US- EIA Crude
A 12:30 US- Weekly Jobless
Fri 20 Jun 2018
A 12:30 CA- CPI/Retail Sales
John M. Bland, MBA
co-founding Partner, Global-View.com
Global-View Affiliate Program
We are starting an affiliate program to market some of our products.
Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.
Put the word "affiliate" in the email subject line.
Start trading with forex broker Markets Cube
Max McKegg's Daily Forex Trading Forecasts
Veteran FX Trader, Max McKegg, forecasts all the Major currencies and the Australasians; providing Daily and Medium Term Trading forecasts to subscribers, who include large Banks the world over, as well as individual traders in more than 30 different countries.
Request a TRIAL of Max's Forex Service.