EURUSD - Trends, Forecasts and Implications (Part 1) - page 718
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
He's not really looking there.
He has a strong divergence on the daily chart from 9300 (1100 pips).
And if it goes down, 9300 is just right for the rules.
A return, so to speak, is inevitable.
Either need to pull up to 1110 or so.
The economic recovery has been delayed :)
We should speed up this recovery-decay process,
Americans used to claim that their currency was backed by gold,
But after De Gaulle brought up a ship full of their waste paper demanding it all be exchanged for bullion, they no longer speak up.
If we could find a De Gaulle like that now, the process would get off the ground...
Currencies are at an equilibrium point at the moment. I think there will be momentum on the euro.
Fibo
Posted 10:04 04.12.2009
Hello!
Stock indices have been declining all day yesterday. I suspected this yesterday when I noted that a double-top pattern had formed on the DJ index. What will be the reversal?
The support of the uptrend has not been broken-that is why it is premature to talk about it, even the 21-moving has not broken the downside line yet. The support is located around 10000, and that is where the price may go down, following the wave-like flow of the chart, when the technical pattern is implemented.
Oil also fell yesterday to 75.72 and it is almost at the support line of the long-term trend. Gold after opening at the high of $1226/oz was down and today the traditional gap of $15.10, but only down. How long can we go up, it's time to correct a bit. For how long, given the rising MACD?
EUR/USD was neutral in this backdrop, staying sideways. An unexpected drop of the US Services Business Activity Index below the key 50-point level, showing a decrease in the non-manufacturing activity, reversed the previously rising pair and the dollar partly recouped its morning losses. The worse things are going in America, the stronger the dollar is. That's the fundamental analysis.
ECB President Trichet told the press-conference that the plans to cut the anti-crisis programmes are not a signal that the interest rates in the Eurozone will rise. But the Fed's St Louis Bullard said that it may be time to rethink the approach when high unemployment makes it impossible to talk about tightening monetary policy.
There is not much data today, but all of it is quite important. Therefore the last day of the week might compensate for the low volatility of the previous days.
Viewed from the technical point of view, EUR/USD might move in different directions even though the long-term uptrend has not broken through yet. In my opinion, it has more chances to rise than to break a solid support.
The GBP/Dollar is traded in a long term sideways trend and it has a higher probability of further declines towards 1.6300.
The USD/JPY, though it rose to 88.20/88.30, but it did not hold a very convincing position and there is not much strength to hold it. If the Japanese regulators help it, then the pair will move higher to 92.00. Otherwise we will see a decline. In my opinion, the case from the row of nasty.
And finally about the dollar index. Does anyone see an upward reversal on the chart? I don't think there's any more questions.
Have a good day!
Analyst of FIBO Group, Nersesov Michael
Because this is the main employment report in Canada it tends to have significant impact on the market. The headline figure is the change in employment in thousands.
The unemployment figure can give insight into the economy's production, consumption, earnings, and consumer sentiment. A lower unemployment rate equates to increased expenditure, as more people have jobs and wages to spend. Increased expenditure encourages economic growth, which can spark inflation pressures. Conversely, high levels of unemployment signal economic instability and weakened demand.
Persons are considered unemployed if they are able and willing to work but without a job and have actively sought employment within the last four weeks. The labour force includes all employed and unemployed individuals 16 years and over.
Factor Orders does provide a comprehensive look at the manufacturing sector. Specifically, the New Orders figure can act as a gauge of demand across industries while Shipments are indicative of supply. The Unfilled Orders and Inventory figures reconcile the balance between New Orders and Shipments; high Shipments are indicative of an excess of demand relative to supply, high Inventories signal an excess of supply over demand.
Figures are reported in billions of dollars and also in percentage change from the previous month.
On a Technical Note: The New Orders figure measures the value of orders received by manufacturers for new products from both domestic and foreign sources. The total value of products shipped is calculated in Shipments while Unfilled Orders measures the value of goods backlogged for order but not yet shipped. Lastly, Inventories gauges the amount of unsold goods held by manufacturers.
The PMI can be used to measure business optimism and forecast economic growth. Business firms increase purchases and spending in response to growing demand for their goods and services, a high PMI suggests overall expectation for an expanding economy. Furthermore, if businesses are optimistic about future economic conditions they will increase spending now in order to prepare for future demand in their goods and services.
Note: The Institute of Supply Management publishes a similar index known as the "Reports on Business" for the United States. Unlike the Canadian PMI, the Reports on Businesses uses mid-month data, adjusts for seasonality, and asks a combination of five questions. As a result, the Canadian PMI tends to have larger month to month movements than the U.S. version
http://www.forex-trader.h16.ru/economic_calendar.htm
Another Hazin article
http://fintimes.km.ru/obzory/krizis/8772