Forex News Blog
Back to The Headlines
Wednesday January 27, 2010 - 10:07:33 GMT
Share This Story
Forexpros - www.forexpros.com
Forexpros Daily Analysis - 27/01/2010ForexPros Daily Analysis January 27,
Fundamental Analysis: US Core Durable
Traders look forward to the publication of the Core Durable
Goods Orders tomorrow (January 28). It
measures the change in the total value of new orders for durable goods,
Because aircraft orders are very volatile, the core
number gives a better gauge of orders trends.
Higher reading indicates
activity increase by manufacturers.
A 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 USD. The previous reading was at
2.00% which analysts predict will decline to 0.40%.
As we get closer and closer to 1.4014, with reaching
1.4040 yesterday, 1.4014 will stay at the center of our focus for another day .
The Euro kept a bottom at 1.4027, which is very close to the most important
support at the moment 1.4014. While the rising attempts stopped just shy of the
falling trend line from 1.4554. Todayâ€™s resistance is at this trend line in
specific which runs currently at 1.4116. As for the support we will put all our
attention at 1.4014 and not any level before it. Breaking resistance of the day
would initiate a strong rise targeting Fibonacci levels at 1.4237 & 1.4302.
But if the all important support 1.4014 is broken, the strong & sharp drop
from 1.4577 that has gained 550 pips until this moment will carry on, strongly,
and will target 1.3928 & 1.3857. We have a very interesting day ahead of us,
letâ€™s enjoy it.
â€¢ 1.4014: Fibonacci 50% for the long
term (for the rise from 1.2885 to 1.5143).
â€¢ 1.3928: Jul 15th low.
1.3857: May 26th low.
â€¢ 1.4116: the falling trend
line from 1.4554 on the hourly chart.
â€¢ 1.4237: Fibonacci 38.2% for the whole
drop from 1.4577.
â€¢ 1.4302: Fibonacci 50% for the whole drop from
Dollar-Yen penetrated the
important 89.79 once again, but this time, we had a close below it, and reached
89.12. The importance of 89.79 comes from the fact that it is Fibonacci 61.8%
for the whole rise from 87.37 to 93.75. And with breaking it, any bias towards
the Dollar has lost its best advocate! But on the other hand, we noticed a trend
line that deserves attention, and has provided support 4 times in the past.
Price has touched and slightly went below this line in the past few hours. If
this line is to provide support, 89.12 must not be broken. In this case we will
witness attest of the resistance 89.69, and if broken then the price would have
found support around the above mentioned trend line and started rising again,
targeting 90.30 & the most important resistance for now 90.90. The other
scenario is to break 89.12, in this case the price will continue to capitalize
on the break of 89.79 and will head on to 88.30 &
â€¢ 89.79: Fibonacci 61.8% for the whole rising
move from 87.35 to 93.75.
â€¢ 88.91: Dec 18th low.
â€¢ 88.30: Dec 14th
â€¢ 90.30: previous important support.
91.06: Fibonacci 50% for the short term.
â€¢ 91.64: the falling trend line from
Forex Trading Analysis written by Munther Marji for
For information on currency
Disclaimer: 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
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:
Register To Test Your Amazing Trader
- Actionable trading levels delivered to YOUR charts in real-time.
- Live trading strategy sessions.
- Market Updates with Trading Tools.
Trading Ideas for 23 October 2017
Register for the Amazing Trader
Amazing Trader EVENT RISK Calendar:
Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan
Potential Trading Opportunities
John M. Bland, MBA
- POTENTIAL PRICE RISK: Medium Tue-- All Day Global flash PMIs. First good look at October economic performances.
- POTENTIAL PRICE RISK: HIGH Wed-- 01:30 GMT AU- CPI. Top Inflation indicator.
- POTENTIAL PRICE RISK: HIGH Wed-- 08:00 GMT DE- IFO Survey. Top German indicator.
- POTENTIAL PRICE RISK: HIGH Wed-- 14:00 GMT CA- BOC Decision. No Policy Change Expected.
- POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top Weekly WTI Statistic.
co-founding Partner, Global-View.com
EXCLUSIVE: Global-View Daily Trading Chart Points Updated
EXCLUSIVE: Global-View Free Forex Database updated
TRADER ADVOCACY ARTICLES
Trader's Advocate Articles..