Forex Bull

The euro moved sharply higher vis-agrave;-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2850 level and was supported around the $1.2525 level.

EURJPY is our Trend for Today

The US Dollar jumped 125 pips higher against the Euro as Barack Obama won enough electoral votes to become the next President of the United States. However, EUR/USD is likely to rise as improving risk sentiment remains the driving force behind forex price action in the near term.

After peaking to a high of 110.69 on August 15th, the USDJPY plunged to a low of 90.90 last week, and may offer profitable opportunities for forex traders.

The ISM non-manufacturing report is expected to show the service sector slipping into contraction with a fall to 47.0 from 50.2 the month prior. A drop in the sector which accounts for 70% of GDP would follow the dismal manufacturing report and signal that the country is indeed in the mist of a recession.

See original here: 
Identifying Trades with DailyFX 11.05.08 (Daily FX)

Originally posted here:
US Dollar Rises as Barack Obama Clinches Presidency (Daily FX)

Wed, 05th of November, 2008 By Setyo Wibowo (analyst@fxinstructor.com) EURUSD Outlook The EURUSD made a significant upside corrections yesterday. The pair topped at 1.3048 and closed at 1.2994 .

Solar cells and panels manufacturer SunPower Corp. said the strengthening dollar is expected to hurt its earnings growth in the fourth quarter and fiscal 2009.

Just a few shorts to look at tonight.