Watching Fundamentals in Forex today

6:00 am EST CBI Industrial Trends Orders (GBP)
7:00 am EST Consumer Price Index m/m (CAD)
7:00 am EST Core CPI m/m (CAD)
8:30 am EST Housing Starts (USD)
8:30 am EST Building Permits (USD)
2:00 pm EST FOMC Meeting Minutes (USD)

Forex currency technical overview

EUR-USD => 1.4658 / 1.4694 levels should put the end to current up-move. Down-move should target 1.4628 or even 1.4592 levels. Rising above 1.4724 returns buyers into play.

GBP-USD => From 2.0478 / 2.0448 expect a rise to 2.0534 / 2.0561, followed by a fall towards 2.0394.

USD-CHF => Currently targeting 1.1134 area in a sell off. Later expecting a pullback upwards to 1.1185. Breaking below 1.1117 sets seller mode.

USD-JPY => While area between 110.42 and 110.64 offers resistance we should see a fall towards 109.32 or even 108.88. Later a correction towards 110.42 or even 110.64 may take place.

EUR-JPY => Resistance area at 160.94 to 161.65 may force price to fall towards 160.22 or even lower towards 159.46.

EUR-GBP => 0.7158 - 0.7147 should see the end of current rise. Expecting a pullback to 0.7109. Breaking above 0.7169 will in in favor of buyers.

EUR-CHF => Gradual descending towards 1.6336 is expected. Later we should see a pullback up to 1.6387. Breaking below 1.6318 will favor bears side.

AUD-USD => Watching limits at 0.8996 and 0.8828. Breaking either of them will spark an acceleration in that direction.

USD-CAD => Targets at 0.9745 and 0.9653 are currently to be watched. Resistance at 0.9959 levl should hold all upside pullbacks. Breaking above 0.9917 sets buyers mode.

Good luck in Forex trading today!

This entry was posted on Tuesday, November 20th, 2007 at 2:57 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.