Forex fundamental overview

8:30am EST Unemployment Claims (USD)
8:30am EST Retail Sales m/m (CAD)
8:30am EST Core Retail Sales m/m (CAD)
10:00am EST Consumer Sentiment (r) (USD)

Forex technical overview

EUR-USD => If support at 1.4776 proves to be strong we should see further upside progress towards 1.4892 or even 1.4992. Later expect an downside correction towards 1.4776 - 1.4738 levels.

GBP-USD => We should see further buying activity that will push price higher towards 2.0678 or even 2.0829 presuming that support at 2.0602 holds sellers attacks. Later a downside correction towards 2.0602 - 2.0561 level should be seen.

USD-CHF => Slowly approaching support levels at 1.1018 and/or 1.1017 for a test. Main support around 1.0946 level.

USD-JPY => Current resistance 110.28 if broken will spark a rally, otherwise we should see a dip towards 108.95. S/L places slightly above 110.53.

EUR-JPY => While support at 162.35 or 161.83 restricts from falling lower we should see higher attempts towards 164.26. S/L slightly below 161.31.

EUR-GBP => Resistance at 0.7181 may provoke a sell off to 0.7160. Breaking above 0.7195 will spark a huge rally.

EUR-CHF => While support at 1.6394 / 1.6377 levels holds expect further upside progress to 1.6445. S/L slightly below 1.6359.

AUD-USD => One more attempt towards 0.8929, with the following sloping down to 0.8812 is expected.

USD-CAD => Currently levels of 0.9800 and 0.9829 and 0.9857 are at watch for a test. Later we should see a downtrend re-established.

Good luck in trading Forex today!

This entry was posted on Wednesday, November 21st, 2007 at 4:52 am and is filed under Daily market comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.