01-07-11, 10:34 AM
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Join Date: Dec 2009
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Fundamental Analysis 7/01/2011 FXCBS
Friday January 7 , 2011
Fundamental Analysis
A lot of economics news we are waiting today from the Euro Zone first then from United State of America, the first news will coming from Germany and France about Trade Balance then we will waiting the Unemployment Rate from the Euro Zone , after that we will waiting Non-Farm Employment Change and Unemployment Rate which is expected to show improvement in the U.S.A , the U.S. Federal had hinted earlier in this week, specifically in the minutes of FOMC U.S. employment sector that began showing signs of gradual improvement , so today we advice to be very carful during the trading , on the other hand the European currencies declined, as expectations indicate that the European financial crisis is due to expand which will have a negative impact on major economies, the dollar broke the 1.30000 level after the ADP employment change unexpectedly rose during December, pushing the dollar to incline.
The euro/dollar tried to rise with the beginning of today’s trading session then dropped, and now the pair trades around 1.29784, recording a high of 1.30219 and a low of 1.29600, while the euro faces a resistance 1.30250 then 1.30800. The daily and four hours momentum show the pair in an oversold area, which may reduce the pair’s downside movement. The pound declined against the dollar during today's session, while the pair trades around 1.54364, trading near of yesterday’s closing, recording the lowest at 1.54055 and the highest at 1.54737, where the pound faces a support at 1.53800. The daily and four hours momentum show the pair in an oversold area, which may reduce the pair’s downside movement. The dollar/yen pair raised during today's trading session, and now the pair trades around 83.512 levels, recording the highest at 83.597 and the lowest at 83.229. On the other hand, the pair faces a resistance at 83.680. The daily and four hours momentum indicators show the pair in an overbought area.The dollar/yen pair declined sharply today, while the pair trades around the level 83.002, recording a low of 82.850 and a high at 83.577. The pair faces a support at 82.780; meanwhile momentum indicators show the pair in an overbought area, which favors a downside movement.
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