|   FM Home  |   FM Forum  |   FM News  |   FM Blog  |  

Go Back   Finance & Money Forums > Finance > Investing



FAQ Members List Calendar Search Today's Posts Mark Forums Read

Investing General discussions on investing and investments: shares, bonds, commodities, forex, and funds.

Reply
 
Thread Tools
  #1 (permalink)  
Old 12-14-2009, 10:55 AM
Finance Market forums
 
Join Date: Nov 2009
Posts: 31
Default Forexpros Daily Analysis - 14/12/2009

Forexpros Daily Analysis Dec 14, 2009


Fundamental Analysis: ZEW Economic Sentiment Report

German traders await publication of the ZEW Economic Sentiment Report, which will be released tomorrow (Dec 14).
The report determines sentiment among German institutional investors, with analysts expecting a slight increase from last month's 50.10 to 50.20.
The Economic Sentiment Report is a leading indicator of business conditions. The reading is concluded from survey of about 350 German institutional investors and analysts.
A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.

---

Euro Dollar

The Euro surpassed the resistance 1.4734 but stopped very close to Wednesday’s high, before reversing, and breaking the support 1.4692, and then reaching the first suggested target 1.4610. The rising trendline from Tuesday’s low (and the lower limit for the supposed triangle pattern) is currently very close to Fibonacci 61.8% for the short-term at 1.4701. This makes this double resistance the most important, and only breaking it would improve the technical outlook for the Euro. If broken, we will enter a correction for the whole drop from 1.5139, which will target 1.4796 at least, and probably 1.4826. As for the support it is at 1.4656 and breaking it would mean that the rising correction from Friday’s low is probably over, and that would target 1.4597 and then 1.4510.

Support:
• 1.4656: rising trendline on the intraday charts.
• 1.4597: important intraday low from Friday.
• 1.4510: previous support area that includes several daily lows.

Resistance:
• 1.4701: Fibonacci 61.8% for the short-term, and the lower trendline in the supposed triangle formation that was broken on Friday.
• 1.4796: Fibonacci 38.2% for the drop from 1.5139.
• 1.4826: Fibonacci 50% for the drop from 1.5139.

---

USD/JPY

Dollar-Yen broke the resistance 89.05 and successfully reached the first target 89.45, then came close to 90, settling for 89.79. this morning the price dropped to 88.36 again, to find the trendline that we introduced in the past few days providing it with support. That was the 4th time the price encountered this line, which clearly means it deserves our attention. That is why we will consider it as support of the day, and it is currently running at 88.43. If it’s broken, the drop from 89.79 will continue and the next pair of targets will be Fibonacci support levels at 87.78 & 87.08. As for the resistance, it is provided by the falling trendline from 89.79 on the intraday charts, which is currently at 88.87. And if broken, another 89.45 visit will be expected, and if this is also broken, we will jump to 90.08 at least.

Support:
• 88.43: a trendline that touched price 4 times.
• 87.78: Fibonacci 50% for the whole move from 84.81 to 90.75.
• 87.08: Fibonacci 61.8% for the whole move from 84.81 to 90.75.

Resistance:
• 88.87: the falling trendline from Friday’s top on the intraday charts.
• 89.45: Fibonacci 61.8% for the short-term.
• 90.08: hourly resistance.

---

Forex trading analysis by Munther Marji for Forexpros. See our new commodities section on Forexpros.

---

Disclaimer

Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Forexpros Daily Analysis - 10/12/2009 forexpros6 Investing 0 12-10-2009 10:42 AM
Forexpros Daily Analysis - 09/12/2009 forexpros6 Investing 0 12-09-2009 11:24 AM
Forexpros Daily Analysis - 30/11/2009 forexpros6 Investing 0 11-30-2009 11:53 AM
Forexpros Daily Analysis - 26/11/2009 forexpros6 Investing 0 11-26-2009 12:16 PM
Forexpros Daily Analysis - 24/11/2009 forexpros6 Investing 0 11-24-2009 12:48 PM


All times are GMT +1. The time now is 11:50 AM.


Powered by vBulletin® Version 3.8.2
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.1.0

© 2005-2011 Finance Markets. All rights reserved  |  About  |  Disclaimer  |  Resources  |  XML Feed  |  Contact us