User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday November 23, 2009 - 13:11:31 GMT
Forexpros -

Share This Story:
| | Email

Forexpros Daily Analysis Nov 23, Supplemental

Forexpros Daily Analysis Nov 23, Supplemental

Fundamental Weekly Outlook

• Monday: France PMI Manufacturing (Previous 55.6, Forecast 55.8) & PMI Services (Previous 57.7, Forecast 57.4). Germany PMI Manufacturing (Previous 51.0, Forecast 51.6) & PMI Services (Previous 50.7, Forecast 51.2). Euro-Zone PMI Manufacturing (Previous 50.7, Forecast 51.2) & PMI Services (Previous 52.6, Forecast 52.9).
• Tuesday: Euro-Zone Industrial New Orders MoM (Previous 2.0%, Forecast 1.0%) & YoY (Previous -23.1%, Forecast -17.1%). Business Confidence Indicator (Previous -1.78, Forecast -1.65). Germany GDP QoQ (Previous 0.7%, Forecast 0.7%) & YoY, (Previous -4.7%, Forecast -4.7%), Private Consumption (Previous 0.7, Forecast -0.4%), Capital Investment (Previous 0.8%, Forecast 0.8%), Imports (Previous -5.1%, Forecast 3.5%), Exports (Previous -1.2%, Forecast 4.1%). IFO - Business Climate (Previous 91.9, Forecast 92.5), IFO - Current Assessment (Previous 87.3, Forecast 88.0), IFO – Expectations (Previous 96.8, Forecast 97.3). France Consumer Spending MoM (Previous 2.3%, Forecast 2.4%) & YoY (Previous 1.0%, Forecast 2.3%). Business Confidence Indicator (Previous 89, Forecast 91).
• Wednesday: Germany GfK Consumer Confidence (Previous 4, Forecast 4).
• Thursday: Germany CPI MoM (Previous 0.1%, Forecast 0.0%) & YoY (Previous 0.0%, Forecast 0.5%).
• Friday: Germany Import Price Index YoY (Previous -11.0%, Forecast -8.7%) & MoM (Previous -0.9%, Forecast 0.4%).. France Consumer Confidence. Business Confidence Indicator (Previous -35, Forecast -35) Euro-Zone Consumer Confidence (Previous -18, Forecast -17).

• Monday: Existing Home Sales MoM (Previous 9.4%, Forecast 2.3%).
• Tuesday: GDP QoQ (Previous 3.5%, Forecast 2.9%), Personal Consumption (Previous 3.4%, Forecast 3.2%), Consumer Confidence (Previous 47.7, Forecast 47.5), House Price Index MoM (Previous -0.3%, Forecast -0.1%). Minutes of Nov. 4 FOMC Meeting (Text Report).
• Wednesday: Personal Income (Previous 0.0%, Forecast 0.2%), Personal Spending (Previous -0.5%, Forecast -0.6%). Durable Goods Orders (Previous 1.0%, Forecast 0.5%), Durable Goods Orders Ex Transportation (Previous -0.9%, Forecast 0.7%). Initial Jobless Claims (Previous 500K, Forecast 505K), University of Michigan Confidence (Previous 66.0, Forecast 67.0), New Home Sales MoM (Previous -3.6%, Forecast 0.8%).

• Wednesday: Trade Balance (Previous 520.6 B, Forecast 465.5 B).
• Friday: Jobless Rate (Previous 5.3%, Forecast 5.4%), Tokyo CPI YoY (Previous -2.4%, Forecast -2.3%), Tokyo CPI EX Food & Energy YoY (Previous -1.4%, Forecast -1.4%), National CPI YoY (Previous -2.2%, Forecast -2.4%), National CPI EX Food & Energy YoY (Previous -1.0%, Forecast -1.1%). Retail Sales MoM (Previous 0.9%, Forecast -0.9%) & YoY (Previous -1.4%, Forecast -1.6%).

• Wednesday: GDP QoQ (Previous -0.4%, Forecast -0.3%) & YoY (Previous -5.2%, Forecast -5.1%), Private Consumption (Previous -0.6%, Forecast -0.2%), Exports (Previous -1.4%, Forecast 1.4%), Imports (Previous -2.2%, Forecast 2.0%).

• Monday: New Motor Vehicle Sales MoM (Previous 2.9%, Forecast N/A) & YoY (Previous -2.0%, Forecast N/A).
• Tuesday: CB Leading Index (Previous 1.8%, Forecast N/A).
• Thursday: Private Capital Expenditure (Previous 3.3%, Forecast 1.0%).

• Monday: Retail Sales (Previous 0.8%, Forecast 0.6%) & Retail Sales Less Autos (Previous 0.5%, Forecast 0.4%).
• Friday: Current Account (Previous -11.2%, Forecast N/A).

Technical Analysis

Euro Dollar:

The pair has pulled off the low of the range (1.4800), and looks prepared to move back higher to test some former highs. This will either be confirmed or rejected based on movement through the following levels:
A move back above 1.4890 indicates movement back above 1.4900 and a test of recent swing highs at 1.4930-1.4940. We have trendline support above this at 1.4950-1.4965, this will also act as resistance. Beyond is resistance at 1.4980-1.4990.

Keep in mind that old support and resistance become new resistance and support respectively if a level is moved through and then retreats back. Movement through one level indicates movement to the next, and failures are likely to move back to other levels mentioned. Support and resistance does not mean rates will move exactly to the price mentioned, rather they are profit taking opportunities in those areas (or possibly entry prices if moved through) as retracements are more likely around those levels. This is misunderstood by many traders, and I will elaborate on it on an upcoming post on my blog.


For further in-depth reading on USD/CAD and other major currencies, visit our Technical Analysis section.


A drop back below 1.4840 is our first indication of a move lower. The trend line this move would break is short term and not of high importance. The closest major level is 1.4800. A break below that would be significant.

A break below 1.4800, if it is legit, will find support at 1.4770, 1.4740-1.4730 then 1.4700. If the break is not legit and just a stop run, it will likely tucker out by 1.4780-1.4770 and then reverse. I say that only we because we all know there are a pile of stops sitting down there.

Keep in mind that since we know stop hunting is a common practice, whether intentional or not, and is a strategy in and of itself. If there is a level that is likely to have many stops it, it seems to create a gravitational pull and can result in a quick surge but often retraces. Watch and see if you see this happening around critical levels. If there is interest I can post a article on how to trade this phenomenon. Have a great day trading everyone!

Forex Analysis written by Cory Mitchell, in conjunction with 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 time.


Forex Trading News

Forex Research

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 here.

Forex News
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
AA: Major, A: High, B: Medium

Mon 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 14:00 US- prelim University of Michigan

John M. Bland, MBA
co-founding Partner,

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.

Contact us

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.


Retail Forex Brokerage Changing!

Are you looking for your first broker or do you need of a new one? There are more critical things to consider than you might have thought.

We were trading long before there were online brokers. Global-View has been directly involved with the industry since its infancy. We've seen everything and are up-to-data with recent regulatory changes.

Our Best Brokers listing section includes:Forex Broker Reviews, Forex Broker Directory, Forex Broker Comparisons and advice on How to Choose a Forex Broker

If would like guidance, advice, or have any concerns at all ASK US. We are here to help you.

SEE Our Best Brokers List

Currency Trading Tools

  • Live rates, currency news, fx charts. 

  • Research reports and currency forecasts.

  • Foreign Exchange database and history.

  • Weekly economic calendar.

Directory of  Forex trading tools

Terms of Use    Disclaimer    Privacy Policy    Contact    Site Map

Forex Forum
Forex Trading Forum
Forex Forum + forex rates
Forex Forum Archives
Forex Forum RSS
Free Registration

Trading Forums
Currency Forum Guide
Forum Directory
Open Forum
Futures Forum
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

Online Forex Trading
Forex Trading Tools
Currency Trading Tools
Forex Database
FX Chart Points
Risk/Carry Trade Chart Points
Economic Calendar
Quicklinks to Economic Data
Currency Futures Swaps
Fibonacci Calculator
Currency Futures Calculator

Forex Education
Forex Learning Center
FX Trading Basics Course
Forex Trading Course
Forex Trading Handbook

Forex Analysis
Forex Forecasts
Interest Rate Forecasts
Central Bank Forecasts

FX Charts and Quotes
Live FX Rates
Live Global Market Quotes
Live Forex Charts
US Dollar Index Chart
Global Chart Gallery
Daily Market Tracker
Forex News
Forex Blog
Forex News
Forex Blog Archives
Forex News RSS
Forex Services
Forex Products
GVI Forex
Free Trials
FX Bookstore
FX Jobs and Careers
Jobs USA
Jobs UK
Jobs Canada

Forex Forum

The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.

Forex News

The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.

Currency Trading

Currency trading charts are updated daily using the forex trading ranges posted in the Global-View forex database. You will also find technical indicators on the fx trading charts, e.g. moving averages for currencies such as the EURUSD. This is another forex trading tool provided by

Forex Brokers

The forex database can be used to access high, low, close daily forex ranges for key currency pairs, such as the EURUSD, USDJPY, USDCHF, GBPUSD, USDCAD, AUD, NZD and major crosses, including EURJPY, EURGBP, EURCHF, GBPJPY, GBPCHF and CHFJPY. Data for these currency trading pairs dating back to January 1, 1999 can be downloaded to an Excel spreadsheet.

Forex Trading

Forex chart points are in a currency trading table that includes; latest fx tradinghigh-low-close range, Bollinger Bands, Fibonacci retracement levels, daily forex pivot points support and resistance levels, average daily forex range, MACD for the different currency trading pairs. You can look on the forex forum for updates when one of the fx trading tools is updated.

FX Trading

Global-View also offers a full fx trading chart gallery that includes fx pairs, such as the EURUSD, commodities, stocks and bonds. In a fx trading world where markets are integrated, the chart gallery is a valuable trading tool. Look for updates on the Forex Forum when the chart gallery is updated.

Forex Blog also offers a forex blog, where articles of interest for currency trading are posted throughout the day. The forex blog articles come from outside sources, including forex brokers research as well as from the professionals at This forex blog includes the Daily Forex View, Market Chatter and technical forex blog updates. In additional to its real time forex forum, there are also Member Forums available for more in depth forex trading discussions.



By using this website, you are agreeing to our Privacy Policy and Terms of Use, and Cookie Policy

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105