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Wednesday November 25, 2009 - 11:16:05 GMT
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Forexpros - www.forexpros.com
Forexpros Daily Analysis - 25/11/2009Forexpros Daily Analysis Nov 25, 2009
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When: Thu, Dec 3, 2009, 11:00 EST
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NZD traders await tomorrowâ€™s announcement by the Reserve Bank of New
Zealand, on the quarterly Inflation Expectations Report (Nov 26).
The report predicts the percentage change in prices of goods and
services over the next 2 years (The future inflation expected by
A higher than expected reading should be taken as positive/bullish for
the NZD (as the common way to fight inflation is raising rates, which
may attract foreign investment), while a lower than expected reading
should be taken as negative/bearish for the NZD.
For technical analysis on the NZD/USD and other currency pairs see Forexpros.
The Euro broke the resistance 1.4951 and touched 1.50 this morning, but
it stopped before 1.5018. This will be the â€śresistance of the dayâ€ť and
breaking it will give way to reach 1.5082 for the first time this year,
and may be later a jump to 1.5144. But, exhaustion is starting to
appear on the RSI indicator on many timeframes, including the hourly
chart, which could weaken the Euro, and lead it to drop without
breaking 1.5018.In this case, we will head towards short â€“term support
at 1.4981, and if broken, the targets will be Fibonacci 38.2% for the
whole rise from 1.4800 at 1.4925 first, and may be then 1.4878, which
is Fibonacci 61.8% and the most important support for the short-term at
â€˘ 1.4981: short-term support.
â€˘ 1.4925: Fibonacci 38.2% for the last upward leg from 1.4800.
â€˘ 1.4786: Fibonacci 61.8% for the last upward leg from 1.4800, the most important support for the short-term.
â€˘ 1.5018: Nov 9th & 10th high.
â€˘ 1.5082: previous resistance from 2008.
â€˘ 1.5144: previous resistance from 2008.
Dollar-Yen broke the support 88.56, and came close to the suggested
target 88.13 (the low until this moment is 88.19). That is why this
support will be our â€śsupport of the dayâ€ť, and we believe it is the last
significant support before the last 15 years low 87.10. Breaking 88.13
will be a signal that the price is heading to a test of Jan 12th
bottom, and this yearâ€™s & the last 15 yearsâ€™ low 87.10, and may be
later to levels that have not been seen on the screens since 1995, like
86.40. Short-term resistance is 88.46, and breaking it would give this
pair the needed strength to go back to 89, and specifically to 89.07
first, and may be 89.60 later. The outlook for the medium-term is still
negative, and approaching 88.13 only added to the negativity.
â€˘ 88.13: Oct 13th low.
â€˘ 87.10: Jan 12th low.
â€˘ 86.40: support area from 1995.
â€˘ 88.46: short-term resistance.
â€˘ 89.07: intraday top.
â€˘ 89.60: Nov 7th low.
Forex Trading Analysis by Forexpros - Written by Munther Marji.
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.
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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
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EXCLUSIVE: Global-View Daily Trading Chart Points Updated
EXCLUSIVE: Global-View Free Forex Database updated
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