Forex Fundamentals today

9:00 am EST TIC Net Long-Term Transactions (USD)
9:15 am EST Industrial Production m/m (USD)
9:15 am EST Capacity Utilization Rate (USD)

Forex technicals today

EUR-USD => Resistance at 1.4612 - 1.4640 zone should provide conditions to further fall towards 1.4577. Breaking above 1.4676 sets a buyers mode.

GBP-USD => Support levels 2.0435 and 2.0295 are at focus to hold a pullback, and later allow a move up towards 2.0574.

USD-CHF => Support levels at 1.1198 is currently at focus and will most likely be broken with price progressing further towards 1.1169. Resistance levels are clustered at 1.1226 - 1.1244 zone. Rising above 1.1258 will switch a play to buyers’ tunes.

USD-JPY => While 110.73 - 110.99 offers resistance we may see further fall towards 109.78. Later a correction to 110.99 / 111.25 may take place.

EUR-JPY => While 162.00 - 162.48 offers resistance we may see further downside development towards 160.22. A correction later towards 162.48 / 162.95 should be seen.

EUR-GBP => Preferred outlook is for one more attempt towards 0.7122 / 0.7100 while price retains below 0.7156 - 0.7167. S/L is slightly above 0.7190.

EUR-CHF => Expecting a move up towards 1.6457 / 1.6509. In case 1.6379 - 1.6348 area gets broken, we could see a strong break down instead of expected move up earlier.

AUD-USD => Price can fall towards 0.8800 having resistance at 0.8909 - 0.8937 intact. A correction upwards to 0.8937 / 0.8965 is anticipated later.

USD-CAD => 0.9859 / 0.9944 will stop current uptrend and settle a pullback to 0.9774 - 0.9730.

Healthy profits in Forex everyone!

This entry was posted on Friday, November 16th, 2007 at 5:47 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.