Here is a very interesting post by Mr. Sean Hyman that you should all read! Visit his site for more insightful posting such as these: The Bank of England just released its…
Category: Technical Analysis
technical analysis
Forex Trend System Indicator
Hello there. I thought you may be interested is knowing about this great commercial MT4 indicator based trading system that I came across. It is called “The Forex Trend System.” Not a…
Corrections – GBP rallies against the USD
In my previous post I sort of denigrated the GBP saying it was being flushed down the toilet by the market. I neglected to notice what it is doing against the USD….
The market is flushing the GBP down the toilet
Well folks, as the title says it seems to me that the GBP is taking a pounding in respect to the JPY and even in general with respect to other pairs. Tonight…
Daily Market Comment – 11 January 2008
| 1.4804. Current rise seems to be over near 1.4809 or 1.4865 for a retracement towards 1.4753 – 1.4723 area. | |
| 1.1035. Overall structure is bearish. Decelerating momentum could attract it towards supports at 1.0996 or 1.0969. Major support is clustered around 1.0927 limit. | |
| 109.33. While above 109.22 – 108.93 zone a corrective dip could test 109.51 or 109.72 or 109.92. After which it should resume his downtrend. | |
| 1.9615. It should test 1.9633 area after which a sell off down to 1.9547 or extended to 1.9479 area is expected. | |
| 1.6334. It is likely to fall towards 1.6241 unless a corrective rally breaks the 1.6359 resistance. Stop above 1.6382 zone. | |
| 161.87. Current rise seems to be over near 162.03 or 162.52 for a retracement towards 161.55 – 161.23 area. | |
| 0.7548. Uptrend is still intact in a triangle configuration. It should continue to rally to 0.7587 or 0.7628 if support around 0.7526 hold. After which a pullback to 0.7526 – 0.7506 zone is possible. | |
| 0.8954. Uptrend is still intact in a triangle configuration. It should continue to rally to 0.9028 or 0.9079 if support around 0.8914 hold. After which a pullback to 0.8914 – 0.8883 zone is possible. | |
| 1.0102. Strength can extend to 1.0127 or even higher than 1.0151 as declines are expected to find support at 1.0077 or 1.0052. Stop Loss below 1.0003 zone. |
Daily Market Comment – 10 January 2008
| 1.4659. There is bearish potential for a fall to 1.4618 or 1.4576 while 1.4701 – 1.4722 resist. After this fall a recovery up to 1.4701 or 1.4722 is expected. | |
| 1.1166. It should be subject to more sell off towards 1.1123 or 1.1081. Corrective upward swings should face resistance around 1.1221 area. A break of 1.12025 is bullish. | |
| 110.03. Uptrend is still intact in a triangle configuration. It should continue to rally to 110.2 or 110.98 if support around 109.65 hold. After which a pullback to 109.65 – 109.41 zone is possible. | |
| 1.9585. Market should meet resistance at 1.9634. We expect then an extended move down to 1.9559 -1.9438 area. | |
| 1.6368. It may attempt a test higher to 1.6386 after which weakness may set it to a drift down to below 1.6331 limit. | |
| 161.31. Uptrend is still intact in a triangle configuration. It should continue to rally to 161.72 or 162.62 if support around 160.99 hold. After which a pullback to 160.99 – 160.66 zone is possible. | |
| 0.7484. Current upmove should continue up to 0.7509 or 0.7534. Any correction should find support in 0.7478 – 0.7466 zone. | |
| 0.8830. One move lower to 0.879 or 0.8751 is anticipated while below 0.8845 – 0.8864 area. Stop loss above 0.8899 zone. | |
| 1.0101. A corrective/consolidation activity between 1.0039 and 1.0186 is likely for a while. |
Daily Market Comment – 09 January 2008
Daily Market Comment
| 1.4707. N/A | |
| 1.1125. There are initial signs of a good corrective recovery towards 1.1158 or even 1.1171. Supports at 1.1122 and 1.1099 zone. | |
| 108.90. Preferred view is for a fall to below 108.56 while 108.9 – 109.2 area resists. A clear break of 109.53 would be bullish. | |
| 1.9731. It is a triangle configuration. Market should break either side. Acceleration should occur above 1.9828 or under 1.9665 limits. | |
| 1.6362. There are initial signs of a good corrective recovery towards 1.6407 or even 1.6423. Supports at 1.6359 and 1.6328 zone. | |
| 160.14. There are initial signs of a good corrective recovery towards 160.83 or even 161.06. Supports at 160.13 and 159.66 zone. | |
| 0.7454. Market should hold major support at 0.7410 before rising towards 0.7473 or even 0.7492 limit. | |
| 0.8786. Strength can extend to 0.8813 or even higher than 0.8849 as declines are expected to find support at 0.8745 or 0.8714. A fall below 0.8641 could turn it bearish. | |
| 1.0064. It should be subject to more sell off towards 0.9994 or 0.9925. Corrective upward swings should face resistance around 1.0149 area. A break of 1.0126 is bullish. |
Forex Calendar – 09 January 2008
Forex Calendar
(GMT -5) Eastern Time (US & Canada)
Wed Jan 9 | 2:00am | EUR |  | German Trade Balance | 17.5B | 18.7B | ||
| 2:00am | EUR | | German Retail Sales m/m | 1.0% | -2.3% | |||
| 2:45am | EUR | | French Trade Balance | -3.6B | -3.6B | |||
| 5:00am | EUR | | GDP q/q (r) | 0.7% | 0.7% | |||
| 5:30am | GBP | | BRC Shop Price Index y/y | 1.1% | ||||
| 6:00am | EUR | | German Industrial Production m/m | 0.3% | -0.3% | |||
| 7:30am | CAD |  | Chief Economists Speak | |||||
| 8:15am | CAD | | Housing Starts | 220K | 228K | |||
| 9:30am | USD | | St. Louis Fed President Poole Speaks | |||||
| 10:30am | GBP | | Leading Index m/m | 0.2% | ||||
| 10:30am | USD | | Crude Oil Inventories | -4.0M | ||||
| 7:30pm | AUD |  | Trade Balance | -2.5B | -3.0B |
From: ForexFactory
| High Impact |
| Medium Impact |
| Low Impact |