Easy Forex Intraday Forex News

Easy Forex Intraday Forex News

Easy Forex Intraday Forex News

Yesterday's forex signals fiscal news announcements were robust, beating expectations for the most part. Markets in Asia and Europe reacted positively acquiring high yielding assets - equities, commodities and commodities related currencies for example CAD, AUD, MXN, and ZAR whilst putting strain on the United states dollar. When the US traders came to work, the mood soured a little as unrest in Middle East and Africa sparked some risk aversion.

New high for the Canadian Dollar ended up being achieved at 0.9684 when the major support point that held from February '08 at 0.9710 had been breached. Now, November 2007 lows at 0.9059 are classified as the following major support, or around seven-hundred pips more of a conceivable move lower for the USD. Silver hit 34.50 and that is the highest within the last three decades.

Today on tap the ADP Non-Farm Employment Change statement at 13:15 GMT. Prospects are for 178,000 increase in February following 187,000 increased private jobs in The month of january. A let-down will likely develop a boost in risk aversion. Also, the Fed Chairman, Ben Bernanke, will finish his testimony before the Senate Banking Committee. Any sort of hint on increasing the interest rate in the US, not likely, will send the USD jumping. Below is our forex signals currency trading perspectives.

EUR/USD is technically neutral to negative. A pull back to 20-day MA, or the mid Bolli band, at 1.3659 is apparently on the cards. The shrinking Bolli band suggests an approaching break-out. If the 1.3659 should crack, a further move down to the 1.3500 area could be.

Sterling looks vulnerable against the USD. Bearish inverted hammer print on the candlesticks yesterdays, combined with the RSI and MACD trending lower bodes nicely pertaining to strong bullish situation for the USD. The 1st target for the GBP bears will be the mid-Bolli band at 1.6146, a crack will target February 28 low at 1.6072.

After a huge and violent drop from 0.9958 on February 23rd to 0.9684 low yesterday, an astonishing 3% move or practically 300 pips in only five forex trading days may produce some profit taking and a rebound for the USD/CAD. Nevertheless, over-all composition continues to be bearish with the CAD bulls targeting 0.9665, the decreasing channel bottom. Really aggressive and patient CAD bulls are considering a move to the November 2007 lows of 0.9059.

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