Forex News Blog
Back to The Headlines
Thursday March 4, 2010 - 10:12:49 GMT
Share This Story
Forexpros - www.forexpros.com
Forexpros Daily Analysis - 04/03/2010 ForexPros Daily Analysis March 4,
US Unemployment Rate
Traders of the US anticipate the publication of the
Unemployment Rate, which is a measure of the percentage of the total labor force
that is unemployed but actively seeking employment and willing to work in the
A high percentage indicates weakness in the labor market. A low
percentage is a positive indicator for the labor market in the US and should be
taken as positive for the USD. Analysts predict a reading of
The Euro stopped only
8 pips below the support specified in yesterdayâ€™s report, and rocketed once
again, breaking the resistance 1.3653, and stopping only 5 pips below our
suggested target 1.3740. Today, we see its best to count on short term levels to
lead the way for the single currency on the short term. Short term support is at
Fibonacci 61.8% for the micro term (which the price stopped accurately at almost
an hour ago). If we break this level, the Euro will start a drop that we expect
to be strong, and will target the most important support (for the short term)
1.3549, and if this level is also broken, the drop will go on, and we will
probably see another weekly low below Tuesdayâ€™s 1.3434. As for the resistance,
it is provided by the falling trend line from yesterdayâ€™s high, and is currently
at 1.3691. If broken, the Euro will continue this sharp rise, and will target
1.3799 & 1.3885.
â€¢ 1.3645: Fibonacci 61.8% for
the micro term.
â€¢ 1.3549: Fibonacci 61.8% for the short term.
â€¢ 1.3691: the falling trend line
from yesterdayâ€™s high on intraday charts.
â€¢ 1.3799: Feb 11th high.
1.3885: Feb 2nd low.
broke the support 88.53 only to stop in the middle of the way to the suggested
target, settling for 88.31. This break gives chance to more drop, but on one
important condition. This condition is to stay below, and not break, the falling
trend line from 92.13, which is currently only pips above the current price, at
88.53. If the price stays below this line, more drop is to be expected. Short
term support is at 88.31, and if broken we will move slowly towards 87, where
the targets 87.72 & 87.00 awaits. The technical outlook stays negative as
long as we are below the resistance of the day 88.53. But in case this level is
broken, USDJPY will enter a long awaited correction for the whole drop from
92.13, with the ideal targets at Dow & Fibonacci levels 89.58 &
â€¢ 88.31: Asian session low.
â€¢ 87.72: Dec
â€¢ 87.00: Nov 27th high.
â€¢ 88.53: the
falling trend line from 92.13 on the hourly charts, the upper limit for the
â€¢ 89.58: Dow 33.3% for the drop from 92.31.
â€¢ 90.22: Fibonacci
50% for the drop from 92.31.
Trading Analysis written by Munther Marji for
For information on US dollar index see
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 18 December 2017
Register for the Amazing Trader
Amazing Trader EVENT RISK Calendar:
Mon 18 Dec
10:00 EZ- final HICP
Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account
Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude
Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP
Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes
Mon 25 Dec
00:00 Christmas Holidays
Potential Trading Opportunities
John M. Bland, MBA
- POTENTIAL PRICE RISK: Medium Mon--10:00 GMT-- EZ- final November HICP. flash data are rarely changed.
- POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
- POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity
- POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
- POTENTIAL PRICE RISK: Medium- Wed --15:30-- US- EIA Crude
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..