Forex fundamental overview

Time EST
8:30am USD CPI m/m => Medium Impact Expected
8:30am USD Core CPI m/m => High Impact Expected
8:30am CAD Industrial Capacity Utilization Rate =>Medium Impact Expected
9:15am USD Industrial Production m/m => High Impact Expected
9:15am USD Capacity Utilization Rate => Medium Impact Expected

Forex technical overview

EUR-USD => We should see further down-moves towards 1.4605 or even 1.4561 presuming that resistance at 1.4649 level holds. Breaking above 1.4649 can cause a pullback to 1.4685 / 1.4721.

GBP-USD => Buyers pressure should rise moving price towards 2.0485 or even 2.0556. Support at 2.0413 - 2.0378 level should hold all pullbacks.

USD-CHF => Further rally for the pair is expected with a target at 1.1449 or even 1.1540 presuming that support at 1.1387 doesn’t break. Later a corrective recovery to 1.1387 - 1.1355 is expected.

USD-JPY => Buyers should push the price higher towards 112.65 or even 113.06 presuming that support at 112.02 is on their side. A correction later to 112.02 - 111.81 can take place.

EUR-JPY => Support levels - 163.92 and 163.51. Expecting a pullback to 164.68 or 165.03.

GBP-JPY => Failure to close yesterday above 230.00 suggests further consolidation. Breaking below 225.00 and above 230.50 is needed for a consolidation break out.

EUR-GBP => Expecting an additional up-move to 0.7202 or even 0.7236 but only if 0.7154 - 0.7147 area is intact, otherwise an acceleration downwards may occur.

EUR-CHF => 1.6687 / 1.6730 should see the end of this up-move. Downtrend targets are 1.6655 or even 1.6612. Rising above 1.6762 sets buyers mode.

AUD-USD => Expecting a rise towards 0.8840 from 0.8748 / 0.8707 levels with a further correction.

USD-CAD => We will most likely observe a consolidation between 1.0123 and 1.0292 for a while.

Good luck in trading Forex today!

This entry was posted on Friday, December 14th, 2007 at 4:46 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.