Feb 9 , 2010

Hai Traders '
Hpw are you doin ... ? So up to today, everybody surely got 400+ pips from my last foreacast ... Wel i am back here since i was taught it will change trend. I thinks that will be enough, and today let us see some Fundamental Analysis form Forex Factory..
So we got nothing seems like best time for trade with the news. A little movement will make a move to GBP for the bearish movement on that time.
So let us see some input from forex trading blog ...

Aussie (AUD): No real news on tap until the end of the week when Australia reports its employment figures. Look for the Aussie to trade solely on risk themes and commodity prices this week. The Aussie is up across the board.

Kiwi (NZD): Expect the Kiwi to trade in similar fashion to the Aussie. New Zealand’s economy is still “fragile”, according Reserve Bank Governor Bollard in response to last week’s unemployment figures. There will be some figures coming out later this week that may help gauge inflation, but don’t expect any major moves outside of risk themes.

Loonie (CAD): Canadian housing starts came in better than expected this morning, but expect the Loonie to trade more on US themes and commodity (particularly oil prices) this week. No other news this week.

Euro (EUR): By now if you’re not aware of the pending debt crisis in Greece, then you’ve had your head in the sand for some time! Seriously, reports coming out of Greece suggest labor strikes as unions are dead-set against the government’s debt reduction plans. In the past, these strikes have become violent which could further highlight the problems and decrease confidence. On tap this week is Germany’s Consumer Price Index and at the end of the week we get Euro zone GDP figures. The trends on the chart clearly look down and we could see the Euro test 1.35 vs. USD. Stay tuned!

Pound (GBP): The Pound is down again after surveys showed the opposition party’s lead over the incumbent party narrowing, which would result in an election to be held in June. Furthermore, British GDP and the BOE quarterly inflation report are on tap, which could show weaker than expected growth. The pound is just under 1.56 vs. USD.

Dollar (USD): The Dollar is weak this morning, paring back after gains last week from risk-aversion themes. Toward the end of the week retail sales will be reported which should be a gauge of how recovery is going. The consumer in the US represents some 70% of GDP so weaker sales could foreshadow slower growth. Friday is the UM Consumer confidence number.

Yen (JPY): The yen is weak today mainly on risk-taking and a pullback from strength last week. Economic slowdowns are predicted as problems in the Euro zone hurt exports and the Toyota recalls hurting the economy in general.

After last week’s scare, expect the market to trade some sideways as market capitulation digests the news. Barring any major economic “disasters”, expect traders to dip their toes back into the risk trade very slowly. However, if stocks continue to sell of today, then we could be in for more dollar strength.
Overnight, Asian markets are down while they are trading higher in Europe. US market futures are down, and oil is up slightly to 71.25, with a better rebound in gold, up 1.25% to 1065.

So let us see for the Technical analysis

GBP/USD

So then, here i can say that the GBP/USD want to change the movement today. But let confirm it with my indicator. For chart pattern i cannot say something because there is none of them. Let see for the MACD, still under 0-level and waiting for breach the 0-level within 2hours from now, and if there is happen, we will Long the GBP/USD. So then for the SSD, it seems like already at overbought level and wil Bearish soon, as per Trendline there is still show us the Bearish movement. What ever it is, it the price is breach the trendline and the indicator up there, surely changing trend for the day, and MACD will above the 0-level and surely appear the bib Ball blue for the Bullish afterward.

EUR/USD

Ok then, so let us see the EUR here..Since yesterday it is sideway. No chart pattern available. I was heard the investor/medium speculator said that, if the price reach 1.3600 and soon it will be back for 1.4200. As per MACD said, it already above 0-level. But SSD, is already overbought, seems like my signal is arrow up. What i can plan is, waiting the retracement or lower high to enter Long position for the next couple hour.

Good luck & Happy trading !!