Forex News Blog
Back to The Headlines
Monday April 12, 2010 - 11:38:05 GMT
Share This Story
Forexpros - www.forexpros.com
Forexpros Daily Analysis - 12/04/2010ForexPros Daily Analysis April 12,
Fundamental Analysis: Trade
Traders of the US anticipate the publication of the Trade Balance
index. It measures the difference in worth between exported and imported goods
(exports minus imports). This is the largest component of a country's balance of
payments. Export data can give reflection on the US growth. Imports provide an
indication of domestic demand. Because foreigners must buy the domestic currency
to pay for the nation's exports, it may have sizable affect on the USD. 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 -39.00B.
The Euro broke the resistance specified in Fridayâ€™s
report 1.3374 and successfully reached the first suggested target 1.3489. But
what is more important is the gaps which took place at the new weekâ€™s open, and
managed to create a major technical event, which is breaking the medium term
trend line, which is the line falling from 1.5139 on daily chart. This line,
which we focused on all last week, is an important one, which managed to
frustrate the Euroâ€™s attempts to rise for the past 3 months, and now it gives
way, how much will that has an effect on the EURUSD? We can say that the Euro is
finally free from downside pressure on the medium term, and that it will be
shooting for areas hundreds of pips higher than current ones, in the next few
days and weeks. But there is an important condition for this, and that is to
keep trading above the broken line. As for the short term, the resistance is at
1.3709, and breaking it would indicate a continuation in this rising move. The
next set of targets will be 1.3794 then 1.3861. As for the support, it is at
1.3648, and breaking it would indicate a correction for the whole move up from
1.3281, with the ideal target-area for this correction between 1.3534 &
â€¢ 1.3648: the rising trend line from the
â€¢ 1.3534: Fibonacci 38.2% for the rise from 1.3281.
1.3437: Fibonacci 61.8% for the rise from 1.3281.
1.3709: Fibonacci 23.6% for the whole drop from 1.5143 to 1.3266.
Mar 12th high.
â€¢ 1.3861: Jan 29th
The Dollar-Yen refused to
engage in the extreme excitement seen on the Dollar/European currencies pairs,
and kept its very calm relatively to the craziness we have seen on other pairs.
The thing is that, the technical outlook has not changed for days. We are still
trading very slowly in a correction to the up move which topped at 94.77, which
is a correction that managed to reach its first target at 92.85. We are still
watching for any other technical evidences to decide whether this correction has
finished at Fibonacci 38.2% or that it is still going and will soon target
Fibonacci 50% & 61.8% levels. Support is at 92.85 and in case it is broken,
the price will continue its drop from 94.77 (the correction), and will target
92.10 first, then the most important support for the short term (and may be the
medium term as well) 91.66. As for the resistance it is at 93.42, and breaking
it would indicate that we are back to the 94areas after completing a modest
correction, and we will target 94.07 & 95.05.
92.85: Jan 8th high, and the rising trend line from 88.12 on the 4-hour
â€¢ 92.10: Mar 30th low.
â€¢ 91.66: Fibonacci 61.8% for the rise from
89.74, a very important support for the short
â€¢ 93.42: the falling trend line from 94.77 on
â€¢ 94.07: important intraday support/resistance.
â€¢ 95.05: Aug
---Forex Trading Analysis written by Munther Marji for
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:
Upgrade Your Trading experience. Try the Amazing Trader
- Actionable trading levels delivered to YOUR charts in real-time.
- Live trading strategy sessions.
- Market Updates with Trading Tools.
Trading Ideas for 15 January 2018
Upgrade Your Trading. Try The Amazing Trader
Amazing Trader EVENT RISK Calendar:
Mon 15 Jan 2018
00:00 US- Holiday
Tue 16 Jan 2018
09:00 GB- CPI
20:00 US- Beige Book
Wed 17 Jan 2018
00:30 AU- Employment
02:00 CN- GDP
10:00 EZ- final HICP
14:15 US- Industrial Production
15:00 CA- Bank of Canada Decision
Thu 17 Jan 2018
13:30 US- Weekly Jobless
13:30 US- Housing Starts/Permits
16:00 US- EIA Crude
Fri 18 Jan 2018
09:30 GB- Retail Sales
15:00 US- University of Michigan (prelim) Survey
PROSPECTIVE Trading Opportunities
- POTENTIAL PRICE RISK: HIGH- Tue -- 09:30 GMT-- GB- CPI
- POTENTIAL PRICE RISK: HIGH- Wed -- 00:30 GMT-- AU- Employment
- POTENTIAL PRICE RISK: Medium- Wed -- 10:00 GMT-- EZ- Final HICP
- POTENTIAL PRICE RISK: HIGH to Medium- Wed --14:15 GMT-- US- Industrial Production
- POTENTIAL PRICE RISK: HIGH- Wed -- 15:00 GMT-- CA- Bank Of Canada Decision
John M. Bland, MBA
co-founding Partner, Global-View.com
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.