Forex News Blog
Back to The Headlines
Wednesday March 17, 2010 - 11:53:26 GMT
Share This Story
Forexpros - www.forexpros.com
Forexpros Daily Analysis - 17/03/2010Forexpros Daily Analysis March 17,
Core CPI (MoM)
Traders of the US await the publication of the Core
Consumer Price Index (CPI). The index measures the changes in the price of goods
and services excluding food and energy. The CPI measures price change from the
perspective of the consumer. It is a key way to measure changes in purchasing
trends and inflation in the US. A higher than expected reading should be taken
as positive/bullish for the USD (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 USD. Analysts predict a
reading of 0.10%.
spent the whole last 24 hours above the important 1.3635 support, broke the
1.3734, and approached 1.38 again, reaching 1.3785 until the moment of preparing
this report, 9 pips below Fridayâ€™s top. This behavior comes in agreement, with
technical outlook that we have adopted in the past 2 days after 1.3635 survived
the test. But, the Euro was supposed to achieve more than this, and not to stop
on the first barrier on the way up 1.3794. The most important support for the
short term now is 1.3742, and holding above it is crucial in order to achieve
more gains. But if broken, we will head to another test of the important 1.3635,
and breaking it would topple the price to 1.3543. The nearest resistance is
1.3794, and if broken, the positive technical outlook will be confirmed, and we
will finally see the important resistance levels above 1.38, the most important
for today is 1.3861, and may be we will then see 1.3936, while the Euro
approaches the 1.40 important landmark.
Fibonacci 61.8% for the micro term.
â€¢ 1.3635: Fibonacci 61.8% for the short
â€¢ 1.3543: Mar 10th low.
â€¢ 1.3794: Fridayâ€™s
â€¢ 1.3861: Jan 29th low.
â€¢ 1.3938: Jan 28th
Opposite to what is
expected, the Dollar-Yen held above the support specified in yesterdayâ€™s report
90.02, and broke the resistance 90.47, but the movement was extremely limited,
with the price topping at 90.66. We have adjusted the lines that frame the
current area, to make the upper limit at Mondayâ€™s top 90.78, which is very close
to last Wednesdayâ€™s top 90.80. The lower limit is provided by the rising trend
line from 89.61 on the hourly chart, and is currently at 90.12, which was tested
yesterday, and passed the test. In case we broke the resistance 90.78 we will
see the Dollar take control, and drive this pair higher, as we see it targeting
the important 91.60 first, then 92.31 which is important as well. But in case we
broke the rising trend line at 90.12, the price will start to fall, confirming
the negative technical outlook which came after Fridayâ€™s price behaviour. This
fall is expected to target 89.37 & 88.72. But before breaking any of these 2
important limits, the technical outlook is mixed.
90.12: the rising trend line from 89.61 on the hourly chart.
â€¢ 89.37: Mar 2nd
â€¢ 88.72: Feb 26th low.
â€¢ 90.78: Mondayâ€™s
â€¢ 91.60: Oct 29th high.
â€¢ 92.31: Oct 27th
---Forex trading analysis by Munther Marji for
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
Mon 19 Mar 2018
AA: Major, A: High, B: Medium
Tue 20 Mar 2018
AA 9:30 GB- CPI
A 10:00 DE- ZEW Survey
Wed 21 Mar 2018
AA 03:00 AU- Employment
AA 9:30 GB- Employment
A 12:30 US- Current Account
AA 14:00 US- Existing Homes Sales
A 14:30 US- EIA Crude
A A 18:00 US- Fed Rate Decision
A 21:00 NZ- RBNZ Rate Decision
Thu 22 Mar 2018
AA All Day flash PMIs
AA 9:30 GB- Retail Sales
AA 12:00 GB- Bank Of England Decision
A 13:30 US- Weekly Jobless
Fri 23 Mar 2018
AA 12:30 CA- CPI/Retail Sales
A 12:30 US- Durable Goods
A 14:00 US- New Homes Sales
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.