Forex technical overview

EUR-USD => Sideways market conditions prevail. Requires above 1.5730-1.5740 to promote itself higher, while trading below 1.5670 would shift preference lower.

AUD-USD => Strong buying potential remains while trading above 0.9220, requires over 0.9275-80 for gains to extend to 0.9310-20 later.

GBP-USD => Testing hourly down channel resistance at 1.9900, trading above calls for potential back to 1.9960-80 area, trading below 1.9850-60 calls for 1.9810-20.

Read entire post at Forex trading signals.

Forex Fundamental overview

Nothing much awaits for us in Forex today.

3:00pm USD Consumer Credit m/m => Low impact expected, unless some way odd data comes out.
5:30pm USD Fed Vice Chairman Kohn Speaks => Low Impact Expected
6:00pm NZD NZIER Business Confidence => High Impact Expected
9:30pm AUD NAB Business Confidence => Low Impact Expected

Happy Forex trading!

This entry was posted on Monday, April 7th, 2008 at 8:11 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.