Forex News Blog
Back to The Headlines
Tuesday December 1, 2009 - 10:51:12 GMT
Share This Story
Forexpros - www.forexpros.com
Forexpros Daily Analysis - 01/12/2009 Forexpros Daily Analysis Dec 01,
The U.S Department of Labor will release The ADP Nonfarm
Employment Change report tomorrow (Dec 2)
The ADP National Employment Report
is a measure of the monthly change of nonfarm private employment, based on a
subset of aggregated and anonymous payroll data that represents approximately
400,000 U.S. business clients.
This release, 2 days before the
government-released employment data , is a good predictive to the government's
non-farm payrolls data. The change in this indicator can be very volatile.
higher than expected reading should be taken as positive/bullish for the USD,
while a lower than expected reading should be taken as negative/bearish for the
Analysts predict tomorrow's measure to stand at -148.00k, a substantial
change from last month's -203.00k.
For more fundamental news, check out
the Forexpros Economic Calendar
The Euro broke the support 1.5043 but it only reached
1.4970, without testing the important support area 1.4955-1.4924. And now, it is
going back up, closing on almost the same levels that we were at yesterdayâ€™s
morning. Te price tried to break 1.4970 twice, yesterday, then in the Asian
session, without succeeding in doing that. This indicate that this support is
important, but we will adopt 1.4985 as support of the day. Where the resistance
is found at the falling trendline from last weekâ€™s top 1.5143, and that line is
currently at 1.5050. Breaking any of them would deliver the next move direction.
Breaking 1.5050 will lead to a test of this yearâ€™s high 1.5143 once again, and
may be 1.5200 after that. Breaking the support 1.4985 would target Fibonacci
61.8% for the short-term at 1.4924, and this is a crucial support, if broken we
will target 1.4867.
â€¢ 1.4985: intraday support.
1.4924: Fibonacci 61.8% for the short-term.
â€¢ 1.4867: important intraday
support from last week.
â€¢ 1.5050: the falling trend
line from 1.5143 (this yearâ€™â€™s high and last weekâ€™s top).
resistance area from
Dollar-Yen broke through
both the resistance & support without creating any major moves, except for
nearing the first target 87.50 after breaking the resistance 87.00. the current
rise is invited to show strength at Fibonacci 61.8% at 87.50, and if it succeeds
in doing so, then a test of the bottom of the supposed wedge formation at 88.33
is to be expected, and if this important resistance is also broken, the next
target will be the top of that formation which is currently at 88.84. todayâ€™s
support is yesterdayâ€™s resistance 87.00, and breaking it would mean a
continuation of the downtrend after some rising bounces. This trend would target
the rising trendline from last weekâ€™s bottom on the hourly chart, which is
currently at 86.44, first, then yesterdayâ€™s low 85.84. The trend is down, and
the Yen strength is still expected, but we should be aware of the possibility of
interventions by the Japanese government that would left this pair many steps
â€¢ 87.00: short-term support.
â€¢ 86.44: the
rising trendline from Thursdayâ€™s low.
â€¢ 85.84: yesterdayâ€™s
â€¢ 87.50: Fibonacci 61.8% short-term (for the
move from 89.17 to 84.81).
â€¢ 88.33: the bottom of the supposed wedge
â€¢ 88.84: the top of the supposed wedge
formation.Forex Trading Analysis by Forexpros
DisclaimerTrading 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
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:
Upgrade Your Trading experience. Try the Amazing Trader
- Actionable trading levels delivered to YOUR charts in real-time.
- Live trading strategy sessions.
- Market Updates with Trading Tools.
Trading Ideas for 19 February 2018
Upgrade Your Trading. Try The Amazing Trader
GVI Trading. Potential Price Risk Scale
Mon 19 Feb 2018
AA: Major, A: High, B: Medium
00:00 CN, US- Holiday
Tue 20 Feb 2018
00:00 CN- Holiday
A 10:00 US- ZEW Survey
Wed 21 Feb 2018
00:00 CN- Holiday
A All Day flash PMIs
A 15:00 US- Existing Homes Sales
A 15:30 US- EIA Crude
AA 19:00 US- Fed Meeting Minutes
Thu 22 Feb 2018
A 09:00 DE- IFO Survey
A 09:30 GB- GDP
AA 13:30 CA- Retail Sales
A 13:30 US- Weekly Jobless
Fri 23 Feb 2018
A 10:00 EZ- Final HICP
AA 13:30 CA- CPI
John M. Bland, MBA
co-founding Partner, Global-View.com
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.