Forex Fundamentals

4:30 am EST Consumer Price Index (CPI) (GBP)
5:00 am EST German ZEW Economic Sentiment (EUR)
3:00 pm EST Pending Home Sales m/m (USD)
6:45 pm EST Producers’ Price Index (PPI) (NZD)

Forex technical overview

EUR-USD => Support at 1.4474 should hold. After that we should see a move up towards 1.4529 - 1.4575.

GBP-USD => Support at 2.0529 / 2.0301 if holds will be followed by a move up to 2.0757.

USD-CHF => While 1.1269 and 1.1253 hold the level of support intact we should see further move up to 1.1318. S/L slightly below 1.1237.
USD-JPY => Resistance at 109.41 - 109.77 is in focus, standing the pressure will push price lower towards 108.32. Later a pullback to 110.10 should be expected.

EUR-JPY => Resistance at 159 - 160.06 if strong should provide sell off to 155.82. Correction to 160.67 can be seen later.

EUR-CHF => Resistance again at 1.6402 - 1.6419 and further sell off to 1.6359 zone; a pullback to 1.6441 is expected later.

AUD-USD => Support levels at 0.8759 and 0.8538 will most likely stop downward tendency and allow a move up to 0.8979 to develop.
USD-CAD => 0.9851 - 0.9786 zone could be the last high point for this uptrend today. Expect a drift down to 0.9513. Rising above 0.9882 will cancel expected drift down.

Forex fundamental analysis - news today

6:50 pm EST GDP q/q (p) (JPY)
6:50 pm EST GDP Deflator y/y (p) (JPY)
7:01 pm EST RICS House Price Balance (GBP)
7:30 pm EST Interest Rate Announcement (JPY)

Forex technical analysis update

EUR-USD => Expecting a rise from 1.4651 / 1.4617 towards 1.4711 or even 1.4737. Later a pullback down to 1.4564 should be seen.

GBP-USD => While 2.0983 - 2.1035 offers resistance we could see a fall to 2.0805. Later a correction to 2.1035 or even 2.1087 may take place.

USD-CHF => 1.1232 - 1.1233 area is at focus for resistance, if successful we will see a pull down towards 1.1228, with a following recovery to 1.1256.

USD-JPY => Support levels - 110.12 and 109.83. Main support should be watched at 108.66. Downtrend bias.

EUR-JPY => Support levels - 162.23 and 161.01. Main support - 158.90. Downtrend bias.

EUR-GBP => 0.7021 / 0.7041 level will hold an up-move allowing a pullback to 0.7000 - 0.6988.

EUR-CHF => 1.6398 - 1.6426 will most likely become a finishing line for this downtrend. The market should rise then to 1.6515 or even 1.6536. Breaking below 1.6389 will damage those expectations.

AUD-USD => Support levels - 0.9100 and 0.9046. Main support - 0.8961. Downtrend bias.

USD-CAD => Currently targeting 0.9496. Support at 0.9374 - 0.9340 should hold all pullbacks.

Forex Fundamental overview - news

8:30 am EST Trade Balance (USD)
8:30 am EST Import Price Index m/m (USD)
8:30 am EST Trade Balance (CAD)
10:00 am EST Consumer Sentiment (p) (USD)

Forex technical update

EUR-USD => While resistance at 1.4714 holds price could fall lower to 1.4645 / 1.4625. Rising above 1.4714 would set a target to 1.4753.

GBP-USD => While 2.1137 offers resistance price could continue lower to 2.1024 / 2.0993. Rising above 2.1137 could find further target at 2.1199.

USD-CHF => Resistance at 1.1279 - 1.1292 is currently under observation. If holds we should see fall to 1.1239, with possible recovery later towards 1.1312.

USD-JPY => 111.39 - 112.38 area should stop current fall, clearing a way for buyers with target at 112.99 / 113.30. Falling lower to 111.35 will cancel those expectations.

EUR-JPY => One more attempt towards 165.58 is possible with the following sell off towards 164.13 or even 163.01.

EUR-GBP => Resistance levels - 0.6963 and 0.6966. The market is most likely aiming at 0.6948 / 0.6933. Rising above 0.6981 would postpone expected fall.

EUR-CHF => We should see the end of the down move at 1.6478 - 1.6525 area followed by a move up towards 1.6583 / 1.6604. Falling below 1.6466 will damage those expectations.

AUD-USD => Support levels - 0.9230 and 0.9264. Currently targeting 0.9335. Breaking below 0.9196 will set a sellers mode.

USD-CAD => Move down towards 0.9254 should be followed buy a pullback up towards 0.9377 or even 0.9423. Breaking above 0.9499 will help buyers advance.

Forex Fundamental analysis - news

Watch the market closely this morning:

7:00 am EST Interest Rate Statement (GBP)
7:45 am EST Interest Rate Announcement (USD)
8:15 am EST Housing Starts (CAD)
8:30 am EST Unemployment Claims (USD)
8:30 am EST ECB President Trichet Speaks (EUR)
10:00 am EST Fed Chairman Bernanke Speak (USD)

Forex technical overview - daily

EUR-USD => Resistances levels are 1.4684 and 1.4816. Price should slope to 1.4551. Breaking below 1.4627 is bearish.

GBP-USD => 2.1111 - 2.1197 will stop upwards moving process. Pullbacks should be supported at 2.0985 - 2.0942.

USD-CHF => 1.1163 - 1.1298 will stop current fall allowing a rally to target 1.1392 or even 1.1437. Breaking below 1.1156 will cancel the expectations.

USD-JPY => Resistance at 113.34 should hold allowing a strong down move towards 112.08 -110.50.

EUR-JPY => While 165.77 - 166.25 offers resistance we can see a fall towards 163.88. Later a corrective up-move to 166.25 or even 166.73 may take place.

EUR-GBP => Support levels - 0.6962 and 0.6948. Expecting a possible recovery towards 0.6983 / 0.6991.

EUR-CHF => While 1.6614 offers resistance we may witness a fall to 1.6560. Breaking above 1.6646 cancels downside objectives.

AUD-USD => Support levels - 0.9275 and 0.9233. Expecting a recovery towards 0.9340 / 0.9363.

USD-CAD => Main support at 0.9110 should hold making a ground for a rise to 0.9391 / 0.9474.