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Thursday November 4, 2010 - 12:15:57 GMT
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Forexpros Daily Analysis - 04/11/2010
ForexPros Daily Analysis November 04, 2010
Euro, Pound March Towards Long Target
Fed day provided some volatility with Euro and Pound pulling back into
their next long setups. Interest rate decisions in the euro area (8:45am
est) and the UK (8am est) should provide additional volatility Thursday
Daily: Euro has just broke range. Not as
convincingly as the pound. Marching towards target of 1.4355, from large
50% extension long at 1.3748. Extension longs like to run to their
61.8% line, in this case, 1.467. Still need to watch for real break from
In 15 minutes, euro holding long at 1.4088, with target at 1.4225.
Daily:Confirmed its long setups of 50% of 1.539 and 1.5704, with joint targets of 1.6299.
15min: The pound is in its long setup 50% at 1.6079, and is currently
being held up by daily pivot at 1.6068. Today the pound pulled back to
next setup at 50% at 1.6024. *targets at 1.6228, 1.6247.
Still in short setups. In extension short at 81.52, with target at
79.55. A retracement would not be strange after hitting its yearly 21.3%
Forex Trading analysis written by Diana Rochford for Forexpros.
Trading Futures and Options on Futures and Cash Forex
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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.
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09:30 GB- CPI
10:00 GB- ZEW Survey
13:30 US- PPI
Wed 13 Dec
00:30 AU- Employment
09:30 GB- Unemployment
13:30 US- CPI
15:30 US- EIA Crude
19:00 US- Fed Decision
Thu 14 Dec
07:30 CH- SNB Decision
All Day- Global- flash PMIs
12:00 GB- Bank of England Decision
12:45 EZ- ECB Decision
13:30 US- Retail Sales
13:30 US- Weekly Jobless
14:45 US- Industrial Production
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- POTENTIAL PRICE RISK: Mediun Tue--10:00 GMT-- DE- ZEW. Second Tier Sentiment Survey
- POTENTIAL PRICE RISK: HIGH-Medium Tue--13:30 GMT-- US- PPI
- POTENTIAL PRICE RISK: HIGH-Medium Wed--09:30 GMT-- GB- Employment
- POTENTIAL PRICE RISK: HIGH Wed--13:30 GMT-- US- CPI
- POTENTIAL PRICE RISK: Medium Wed--15:30 GMT-- US- EIA Crude
- POTENTIAL PRICE RISK: High Wed--19:00 GMT-- US- Fed Decision
- POTENTIAL PRICE RISK: HIGH- Thu --00:30 GMT-- AU- Employment
- POTENTIAL PRICE RISK: Medium- Thu --All day-- global- flash PMIs
- POTENTIAL PRICE RISK: HIGH-Medium- Thu --07:30-- CH- Swiss National Bank Decision
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