Forex News Blog
Back to The Headlines
Wednesday March 31, 2010 - 09:38:56 GMT
Share This Story
Forexpros - www.forexpros.com
Forexpros Daily Analysis - 31/03/2010ForexPros Daily Analysis March 31,
Initial Jobless Claims
Traders of the US anticipate the publication of
the Initial Jobless Claims.
This is a seasonally adjusted measure of the
number of people who file for
unemployment benefits for the first time during
the given week. This data is
collected by the Department of Labor, and
published as a weekly report. The
number of jobless claims is used as a
measure of the health of the job
market, as a series of increases indicates
that there are fewer people being
hired. On a week-to-week basis, claims are
quite volatile. Usually, a move
of at least 35K in claims, is required to
signal a meaningful change in job
A higher than expected reading
should be taken as negative/bearish for the
USD, while a lower than expected
reading should be taken as positive/bullish
for the USD. Analysts predict a
future reading of 440.00K.
The Euro continued to rise from last week's low, Friday's
low, and the
10-month low 1.3266, reaching a new top for this correction at
which it dropped strongly for more than 150 pips. The collapse
happened late last week is completely expected, not only that, but
believe what we have seen yet is just part one of a strong and
medium term drop which has already started! We will not be a bit
when we see the Euro below 1.30 in the near future, on the
contrary, we look
forward with eager to that. But after dropping from 1.38 to
1.32 in a few
days, a rising correction is normal & logical thing and
holds no surprises.
Thus, we should focus of the projected targets for this
correction, the most
important of which is the Fibonacci 61.8% resistance at
importance to this level is the fact that the long term
line is getting closer and closer to it. As for the short
term, we see
resistance at 1.3441, and if broken, we will continue to correct
wave down from 1.38. Ideal targets for such a correction are 1.3541
level with continuous rise in its importance 1.3606. As for the
is at 1.3369 and breaking it would indicate a continuation of the
yesterday's top 1.3535. We do expect large targets to be met for
term, such as 1.3283 & 1.3190.
1.3369: the bottom of the rising trend line from 1.3266 on hourly charts.
1.3283: Thursday's low.
* 1.3190: Apr 30th
* 1.3441: Fibonacci 38.2% for the drop from
* 1.3541: Fibonacci 50% for the drop from 1.3816.
1.3606: Fibonacci 61.8% for the drop from
Dollar-Yen broke the
resistance specified in yesterday's report 92.68, and
the first suggested target 93.20, in a move in the same
direction of the
technical outlook which followed the break of the falling
trend line on the
daily chart, which we have talked about several times
reaching 93, the technical outlook was positive, and after
reaching 93, the
technical outlook is still positive. But, as we approach
the important top
93.75, we recommend caution of a possible drop. Since it
is pretty important,
we will take 93.75 to be our "resistance of the day",
and we do not expect
this "correctionless" rise to continue unless it is
broken. But if it does,
the price will jump above 94 for the first time
since August, targeting 94.35
and may get a taste of 95 as it targets 95.05.
As for the support it is at
93.00, and breaking it would mean that the price
has settled for a top at
93.58, for the time being at least, and that we
will now correct the big rise
we just saw.
* 93.00: Fibonacci 38.2% for the short
* 92.13: Feb 19th low.
* 91.49: Fibonacci 38.2% for the rise from
* 93.75: Jan 8th high.
* 94.35: Aug 4th
* 95.05: Aug 24th high.
---Forex Trading Analysis written
by Munther Marji for ForexPros.
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 10 Sep 2018
AA: Major, A: High, B: Medium
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 14:00 US- prelim University of Michigan
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.