Forex Bull

The Euro may see renewed selling pressure as German Unemployment is set to rise for the first time in nearly three years, with 10 thousand people expected to lose jobs in December. Overnight data saw the New Zealand trade deficit narrow as imports dwindled while Australian Retail Sales surprised to the upside in November.

by Johan Kriek (jkriek@fxinstructor.com) Firstly, I would like to wish everyone at FXInstructor and everyone else on the Web a prosperous 2009! Have a good one! Herewith the Studies for today: Key notes: – Eurozone inflation drops to 26year low, EUR falters – Fed minutes reveal low rates to last longer – Watch Eurozone PPI today as it can have the same effect as CPI yesterday Probability Studies: No trade zone within a Bearish Probability. As long as the 60minute trend remains bearish we will have a bearish direction of highest probability on the EUR. At this point in time I can see the 1 hour Stochastic is bullish and therefore the no trade zone.

With the GBP/AUD sitting between support and resistance, it might be time to once again look for a selling opportunity.

Read the original:  Identifying Trades with DailyFX 01.07.09 (Daily FX)

Euro-zone producer prices are expected to have fallen by 1.0% in November on the back of freefalling oil prices. That would be the largest one month drop since records began in 1981.

Wed, 07th of January, 2009 By Setyo Wibowo (analyst@fxinstructor.com) EURUSD Outlook As I had expected, EURUSD made another bearish momentum yesterday.

The dollar continued rising against the euro late Tuesday night in New York. The 16-nation currency traded at $1.3491, down from $1.3523 in late afternoon trading on Tuesday.

eToro is a brand new trading platform that just might be the most novice-friendly FOREX learning tool on the market today. eToro makes learning and mastering your FOREX trading skills an incredibly fun experience with a graphical user interface like no other FOREX platform.

-euro / British Pound significant reversal?

The euro tumbled as Euro-zone CPI estimates show that inflation has fallen below the ECB’s 2.0% target, adding to speculation that the bank will cut rates next week.