User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday August 3, 2010 - 09:31:53 GMT
Forexpros -

Share This Story:
| | Email

Forexpros Daily Analysis - 03/08/2010

ForexPros Daily Analysis August 03, 2010

Fundamental Analysis: Unemployment Rate

The Unemployment Rate is a measure of the percentage of the total labor
force that is unemployed but actively seeking employment and willing to work
in New-Zealand.
A high percentage indicates weakness in the labor market. A low percentage
is a positive indicator for the labor market in New-Zealand and should be
taken as positive for the NZD. The analysts predict a future reading of


Euro Dollar

The Euro broke resistance specified in yesterday's report 1.3086, and came
very close to hitting the suggested target of 1.3200, but it stopped only 6
pips before it, then it spent the night in a tight range between 1.3183 &
1.3150. With this, the Euro jumped strongly, but this jump has not reached
its target yet. Naturally, we expect more of the same today, and soaring
above 1.32. But, before we get overexcited, we must wait for a break of the
falling trend line from yesterday's top on intraday chart, which is running
currently at 1.3174. If we do break this line, the Euro will start rising
again, and we will target 1.3266 first, and may be at a later time 1.3325.
On the other hand, short term 38.2% Fibonacci level at 1.3112 will be our
support of the day. If broken, a correction will be initiated, and the price
will start giving up yesterday's gains. This will target a test of a very
noteworthy trend line at 1.3040. If this is also broken, the positive
technical outlook will change dramatically, and we will target 1.2952.

* 1.3112: Fibonacci 38.2% for the rise from Friday's low.
* 1.3040: the rising trend line from Jun 29th low, and also Jul 28th high.
* 1.2952: a well known previous support resistance, which includes several
daily highs and lows, among those Jul 27th high, and Jul 15th low.

* 1.3174: the falling trend line from yesterday's high on intraday charts.
* 1.3266: Apr 25th important bottom.
* 1.3325: Apr 7th low.



No change! Nothing of any technical importance took place yesterday,
therefore, we still hold the same technical outlook we did yesterday. After
we have clearly surpassed wave 5 bottom, the correction we have been
monitoring for the past days is finally over, and it is official: we are in
a new down wave! But the bounce from Friday's low 85.93, which is closing on
the important resistance 86.81 this morning, warns of a correction to what
we have seen of the new wave so far (the drop from 88.10 to 85.93).
Nevertheless, with a correction in these areas, or without, dropping far
below 86 and may be below 84.81 itself has turned into a most probable
scenario. The resistance which will determine if this bounce from Friday's
low will go on or stall, is 86.81. If broken, the Dollar will keep shooting
higher, targeting 87.49 & then what we imagine as the "ceiling" for the
price at this stage 88.10. But, if we break the exciting support 86.25
instead, we will start dropping to areas below Friday's low, we find 85.52 &
84.81 to be the most attractive of which.

* 86.25: Jul 16th low, just 2 pip below Thursday's low.
* 85.52: the falling trend line combining the daily lows of Jul 1st & 16th.
* 84.81: Nov 27th 2009 low, and the low of the last 15 years.

* 86.81: Jul 26th & 27th lows, and an obvious hourly support.
* 87.49: Jul 29th high.
* 88.10: Jul 28th top.


Forex trading analysis written by Munther Marji for Forexpros.



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

Forex Research

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 here.

Forex News
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
AA: Major, A: High, B: Medium

Tue 17 July 2018
AA 08:30 GB- Employment
A 13:15 US- Industrial Production
AA 14:00 US-Powell Testimony
Wed 18 July 2018
AA 08:30 GB- CPI
A 12:30 US- Housing Starts/Permits
AA 14:00 US-Powell Testimony
Thu 19 July 2018
AA 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 14:30 US- EIA Crude
A 12:30 US- Weekly Jobless
Fri 20 Jun 2018
A 12:30 CA- CPI/Retail Sales

John M. Bland, MBA
co-founding Partner,

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.

Contact us

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.


Retail Forex Brokerage Changing!

Are you looking for your first broker or do you need of a new one? There are more critical things to consider than you might have thought.

We were trading long before there were online brokers. Global-View has been directly involved with the industry since its infancy. We've seen everything and are up-to-data with recent regulatory changes.

Our Best Brokers listing section includes:Forex Broker Reviews, Forex Broker Directory, Forex Broker Comparisons and advice on How to Choose a Forex Broker

If would like guidance, advice, or have any concerns at all ASK US. We are here to help you.

SEE Our Best Brokers List

Currency Trading Tools

  • Live rates, currency news, fx charts. 

  • Research reports and currency forecasts.

  • Foreign Exchange database and history.

  • Weekly economic calendar.

Directory of  Forex trading tools

Terms of Use    Disclaimer    Privacy Policy    Contact    Site Map

Forex Forum
Forex Trading Forum
Forex Forum + forex rates
Forex Forum Archives
Forex Forum RSS
Free Registration

Trading Forums
Currency Forum Guide
Forum Directory
Open Forum
Futures Forum
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

Online Forex Trading
Forex Trading Tools
Currency Trading Tools
Forex Database
FX Chart Points
Risk/Carry Trade Chart Points
Economic Calendar
Quicklinks to Economic Data
Currency Futures Swaps
Fibonacci Calculator
Currency Futures Calculator

Forex Education
Forex Learning Center
FX Trading Basics Course
Forex Trading Course
Forex Trading Handbook

Forex Analysis
Forex Forecasts
Interest Rate Forecasts
Central Bank Forecasts

FX Charts and Quotes
Live FX Rates
Live Global Market Quotes
Live Forex Charts
US Dollar Index Chart
Global Chart Gallery
Daily Market Tracker
Forex News
Forex Blog
Forex News
Forex Blog Archives
Forex News RSS
Forex Services
Forex Products
GVI Forex
Free Trials
FX Bookstore
FX Jobs and Careers
Jobs USA
Jobs UK
Jobs Canada

Forex Forum

The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.

Forex News

The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.

Currency Trading

Currency trading charts are updated daily using the forex trading ranges posted in the Global-View forex database. You will also find technical indicators on the fx trading charts, e.g. moving averages for currencies such as the EURUSD. This is another forex trading tool provided by

Forex Brokers

The forex database can be used to access high, low, close daily forex ranges for key currency pairs, such as the EURUSD, USDJPY, USDCHF, GBPUSD, USDCAD, AUD, NZD and major crosses, including EURJPY, EURGBP, EURCHF, GBPJPY, GBPCHF and CHFJPY. Data for these currency trading pairs dating back to January 1, 1999 can be downloaded to an Excel spreadsheet.

Forex Trading

Forex chart points are in a currency trading table that includes; latest fx tradinghigh-low-close range, Bollinger Bands, Fibonacci retracement levels, daily forex pivot points support and resistance levels, average daily forex range, MACD for the different currency trading pairs. You can look on the forex forum for updates when one of the fx trading tools is updated.

FX Trading

Global-View also offers a full fx trading chart gallery that includes fx pairs, such as the EURUSD, commodities, stocks and bonds. In a fx trading world where markets are integrated, the chart gallery is a valuable trading tool. Look for updates on the Forex Forum when the chart gallery is updated.

Forex Blog also offers a forex blog, where articles of interest for currency trading are posted throughout the day. The forex blog articles come from outside sources, including forex brokers research as well as from the professionals at This forex blog includes the Daily Forex View, Market Chatter and technical forex blog updates. In additional to its real time forex forum, there are also Member Forums available for more in depth forex trading discussions.



By using this website, you are agreeing to our Privacy Policy and Terms of Use, and Cookie Policy

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105