Forex News Blog
Back to The Headlines
Thursday March 25, 2010 - 11:22:09 GMT
Share This Story
Forexpros - www.forexpros.com
Forexpros Daily Analysis - 25/03/2010ForexPros Daily Analysis March 25,
Traders of the US anticipate the publication of the GDP
Gross Domestic Product (GDP) is the broadest measure of
and is a key indicator for the economy's health.
Annualized (quarterly change x4) percent changes in GDP shows the growth
of the economy as a whole.
Consumption is by far the largest component in the
GDP of the US and has the
most affect on it.
The figures can be quite
volatile from quarter to quarter. 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.
Analysts predict a future
reading of 5.90%.
broke the support specified in yesterday's report 1.3390 , and
reaching the first suggested target 1.3326 successfully, before
1.33 for the first time since May 7th of last year. This
completely expected, not only that, but we believe what we have
seen yet is
just part one of a strong and massive medium term drop which has
started! We will not be a bit surprised when we see the Euro below
the near future, on the contrary, we look forward with eager to
that. As for
the short term, we may see a correction that retests the
1.3434-1.3462 before the weekend, and we may not! This depends
the short term support or resistance. We see resistance at
1.3459, and the
EURUSD will stay harmed, trading under a very negative
technical outlook as
long as we are below this resistance. But if a surprise
takes us above this
level, we will correct the last wave down from 1.38.
Ideal targets for such a
correction are 1.3550 & 1.3612. As for the support
it is at 1.3303 and
breaking it would indicate a continuation of the drop.
We do expect large
targets to be met before the weekend, such as 1.3190
* 1.3303: important intraday
* 1.3190: Apr 30th low.
* 1.3088: Apr 10th
* 1.3459: Fibonacci 61.8% for the short
* 1.3550: Fibonacci 50% for the drop from 1.3816.
Fibonacci 61.8% for the drop from
After days & days of
putting it under our surveillance, and pouring all our
attention on it, the
"magnetic" resistance 90.78 was broken and we have seen
what follows the
break of such important levels. The Dollar jumped strongly
specified resistance in yesterday's report 90.78 & successfully
both suggested targets 91.60 & 92.31, stopping only 7 pips above
second target! With this break, the Dollar has released itself from
and the direction of the Dollar in this pair could now agree with
direction against the European currencies, and we could end up seeing a
Dollar rally against all majors. After this rocketing rise, a
normally expected, and here, the previous critical resistance
turned to a support that the price should hold above. Short term
at 91.40 & breaking it would indicate a drop to 90.78 to retest
price holds above it, or at least close to it, there will be no harm.
we go back below this level, the positive technical outlook will get
hard, and price will drop towards 89.99. As for the resistance it is at
& if broken, the current rise will continue, and the Dollar will rise
a new set of targets which includes: 93.20 &
* 91.40: short term 38.2% Fibonacci
* 90.78: the previous important resistance, and Fibonacci
* 89.99: the rising trend line from 89.61 on the hourly
* 92.09: the falling trend line from
* 93.20: Jan 4th high.
* 93.75: Jan 8th
---Forex Trading Analysis written by Munther Marji for
Disclaimer: Trading Futures and Options on Futures and Cash
transactions involves substantial risk of loss and may not be suitable
all investors. You should carefully consider whether trading is suitable
you in light of your circumstances, knowledge, and financial resources.
may lose all or more of your initial investment. Opinions, market data,
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."
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.