Forex News Blog
Back to The Headlines
Thursday December 24, 2009 - 10:16:26 GMT
Share This Story
Forexpros - www.forexpros.com
Forexpros Daily Analysis - 24/12/2009Forexpros Daily Analysis Dec 24, 2009
A New Real Time Interest Rates and Bonds Section
Want to know what is happening now with Bonds around the globe?
Stay on top of Interest Rates and Bonds with a new Free Real Time Streaming Financial Futures Rates section.
The quotes are available for U.S. Treasury Notes and Bonds and government bonds from the U.K., Germany, Japan and Australia.
They are all organized in a user friendly layout in a real time streamer.
The Euro broke the resistance specified in yesterdayâ€™s report 1.4298,
but it stopped half way between the support & the target, as the
high in the past 24 hours was 1.4365, a few pips below short term
resistance 1.4371. This morning the price came back close to this
resistance that we consider as resistance of the day, and breaking it
would confirm the upward direction that started by breaking the
descending channel. Short-term support is at 1.4238 and breaking it is
not expected after the radical change in the technical outlook that
happened after breaking 1.4298. But if it happens it would target
1.4153 and then 1.4030. A break of todayâ€™s most important resistance
1.4371 would cause a jump to 1.4502, and later to Fibonacci 38.2% for
the medium-term 1.4596.
â€¢ 1.4238: Fibonacci 38.2% for the micro-term.
â€¢ 1.4153: Jul 2nd high.
â€¢ 1.4030: the bottom of the descending channel on the hourly chart, and Aug 18th low.
â€¢ 1.4371: Mondayâ€™s high, and the resistance that the price tried to break twice in the past 24 hours.
â€¢ 1.4502: Dec 15th low.
â€¢ 1.4596: Fibonacci 38.2% for the medium term (for the whole move from 1.5139 to 1.4260).
Though it tried more than once, the Dollar-Yen could not break 91.78,
and that is why there is almost no change to the technical outlook we
spoke about yesterday. The price is invited to show strength against
the resistance 91.78 (currently trading pips below it), and if broken,
a test of the area that caught our attention 92.31-92.52 will be only a
matter of time. And if this area is broken, the Dollar will take off,
towards March 19th low 93.53. On the other hand, if the price fails to
create a sustained break of 91.78, a drop towards 91.06 where the
moving average SMA100 & the retest level for the broken channel are
waiting, will follow. And if this level is broken, the price will drop
towards the important 90.03, and if broken we are to see 89.55.
â€¢ 91.06: the moving average SMA100 on the hourly chart, and the retest level for the broken channel.
â€¢ 90.03: Fibonacci 61.8% for the whole move from 88.91 to 91.85.
â€¢ 89.55: previous important intraday low.
â€¢ 91.78: Jul 8th low.
â€¢ 92.31-92.52: resistance area created between Oct 27th & Sep 21st tops.
â€¢ 93.53: Mar 19h low.
Forex trading by Munther Marji for Forexpros. See Forexpros for Forex software and trading tools.
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 19 June 2018
AA: Major, A: High, B: Medium
A 12:30 US- House Permits/Starts
Wed 20 June 2018
A 14:00 US- Existing Homes Sales
A 14:30 US- EIA Crude
Thu 21 June 2018
AA 11:00 GB- Bank of England Decision
A 12:30 US- Weekly Jobless
Fri 22 June 2018
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.