Monday, May 31, 2010

EUR / USD: Bearish. Target of 1.214. Resistance 1.245.
USD / JPY: Bearish. Target 89.8.
GBP / USD: Bearish. Target of 1.423. Resistance 1.47.
USD / CHF: Bullish. Target of 1.174. Support 1.145.
AUD / USD: Bearish. Target of 0.807. Resistance 0.855.
USD / CAD: Bullish. Target of 1.085. Support 1.044 and 1.041.
EUR / CHF: NEUTRAL. Support 1.411 and 1.4. Resistance 1.431.
EUR / GBP: Bearish. Target 0.84. Resistance 0.86.
EUR / JPY: Bearish. Target of 108.1. Resistance 113.7.

EUR / USD again depressed to enter the European session this afternoon. Lowered the credit rating of Spain makes Euro depressed this weekend, and the impact is still felt today. There is little interest in selling at the level of 1.232 to 1.233. Meanwhile, buying interest in the 1.228 to 1.227. Pairs are now in the 1.23 and 1.226 or 1.233 need to penetrate could give a clearer picture of the movement.
EUR / USD: Bearish. Target of 1.214. Resistance 1.245.
USD / JPY: Bearish. Target 89.8.
GBP / USD: Bearish. Target of 1.423. Resistance 1.47.
USD / CHF: Bullish. Target of 1.174. Support 1.145.
AUD / USD: Bearish. Target of 0.807. Resistance 0.855.
USD / CAD: Bullish. Target of 1.085. Support 1.044 and 1.041.
EUR / CHF: NEUTRAL. Support 1.411 and 1.4. Resistance 1.431.
EUR / GBP: Bearish. Target 0.84. Resistance 0.86.
EUR / JPY: Bearish. Target of 108.1. Resistance 113.7.

EUR / USD moves up to around 1.232. Investors seem to sell off positions, so the pair move higher. Resistance is in the level of 1.233 to 1.234. If penetrated, then EUR / USD has the potential rise to around 1.239.
EUR / USD
-----------------------------------------

Pair continued downward movement last week, the pair had even pressured down to the level of 1.215. EUR / USD finally closed slightly stronger to 1.227 in trading at the weekend. Movement earlier this week estimated that between 1.214 to 1.233. If the resistance is 1.233 pierced, then the pair potential to continue to do recovery to 1.246 or 1.267. Further movement will open doors to 1.3 again. Conversely, the down side, there are more targets in 1.2. If pierced the 1.18 and 1.16 would be targeted. Pair is likely to continue to stress, some rumors decline also threatened the credit rating of the power of the Euro.

GBP / USD
-----------------------------------------

Pair of volatile moves last week, after the pair fell to 1.422 and then turned up to around 1.461. Pair back down and finally closed at 1.445. Movement at the beginning of this week's estimated there are between 1.44 to 1.452. European debt problem continued to affect investor behavior, and of course impact on the GBP. The next strong resistance at 1.461 and if penetrated, then the pair potential to rise to 1.478. If 1.44 impregnable, then 1.422 and 1.413 will be targeted, if you still continue to fall to 1.38 then the door will be opened again.

AUD / USD
-----------------------------------------

AUD / USD could test the .806 but the pair bounced off support and finally closed at 0.847 level. Pairs seem to still be tersupport, good fundamentals make AUD Australia tends to strengthen. Initial resistance at 0.847 and 0.856, and if it pierced the 0.88 will be the next target. If it still continues to move up, it will pave the way to level 0.9. Conversely, below, support is in 0.824. If pierced by the 0.806 and 0.786 will be the next support.

USD / CAD
-----------------------------------------

Pair could go up to 1.085 and the highest level recorded in the last six months. However, the pair re-corrected and went down to 1.055 at the close of the weekend. USD / CAD this week likely will continue to be bearish, fundamentals still seem to Canada will continue to support. 1.04 and 1.02 levels is still a major support in the lower side. If pierced by the level below 1.0 will return as the target. Conversely, if the pair turned up again, then 1.055 and 1.075 will be the target, with further resistance at the 1.085 level. If penetrated, then 1.113 will be the next target.


Written by surabayaforex.com

Saturday, May 29, 2010

USD / CAD Ranging in 1.047

Posted by Unknown at 6:04 PM

USD / CAD moves ranging in a narrow range of 1.047 at this time. Pairs predicted will continue to try to get through 1.04. If it fails then the pair berpeluant bounce to around 1.06 to 1.065 again. Commodity price moves are varied and the level of risk that investors still have not shown convincing. Announcement of the Bank of Canada interest rate next Tuesday will be the focus seems
EUR / USD: Bearish. Target of 1.214. Resistance 1.273.
USD / JPY: Bearish. Target 88.3. 91.9 Resistance.
GBP / USD: Bearish. Support 1.437 and 1.423. Resistance 1.47.
USD / CHF: Bullish. Target of 1.17 and 1.174. Support 1.145 and 1.136.
AUD / USD: Bearish. Target 0.8. Resistance 0.858.
USD / CAD: Bullish. Target of retrace 1.041. Resistance 1.072 and 1.085.
EUR / CHF: NEUTRAL. Support 1.4. Resistance 1.437.
EUR / GBP: Bearish. Support 0.84. Resistance 0.86 and 0.881.
EUR / JPY: Bearish. Target of 108.1. Resistance 114.4.

Friday, May 28, 2010

EUR / GBP 0.851 sped up to around noon today. Action substantial purchasing related needs of the end of the month to make Euro tersupport. In addition, British officials claim that Pound should be weakened to stabilize the depressed economy is making GBP. If the EUR / GBP was not able to continue the momentum, then the target will be 0.84 and 0.833 re-targeted.
EUR / USD: Bearish. Target of 1.214. Resistance 1.273.
USD / JPY: Bearish. Target 88.3. 91.9 Resistance.
GBP / USD: Bearish. Support 1.423 and 1.411. Resistance 1.47.
USD / CHF: Bullish. Target of 1.174. Support 1.145 and 1.136.
AUD / USD: Bearish. Target 0.8. Resistance 0.858.
USD / CAD: Bullish. Target of retrace 1.041. Resistance 1.085.
EUR / CHF: NEUTRAL. Support 1.4. Resistance 1.459.
EUR / GBP: NEUTRAL. Support 0.84. Resistance 0.86 and 0.881.
EUR / JPY: Bearish. Target of 108.1. Resistance 114.4.

AUD / USD back to 0.85

Posted by Unknown at 12:32 PM

AUD / USD had weakened to 0.846 and then rose this morning, but the reinforcement does not last long. Now the pair back down to around 0.85 again. Action sell AUD / USD hamper the pace of strengthening of this pair, and otherwise act to buy the AUD / JPY to provide support for the AUD / USD. Pairs predicted would still be moving in the current range until noon.

EUR / USD moved down to around 1.23. Pair still depressed, but some buy a pair of action stuck. Option expiry on the level of 1.23 and 1.24. Pairs seem to be quite difficult to penetrate the 1.23 level and if it pierced the EUR / USD has the potential shot down even further.
EUR / USD: Bearish. Target of 1.214. Resistance 1.273.
USD / JPY: Bearish. Target 88.3. 91.9 Resistance.
GBP / USD: Bearish. Support 1.423 and 1.411. Resistance 1.47.
USD / CHF: Bullish. Target of 1.174. Support 1.145 and 1.136.
AUD / USD: Bearish. Target 0.8. Resistance 0.858.
USD / CAD: Bullish. Target of retrace 1.041. Resistance 1.085.
EUR / CHF: NEUTRAL. Support 1.4. Resistance 1.459.
EUR / GBP: NEUTRAL. Support 0.84. Resistance 0.86 and 0.881.
EUR / JPY: Bearish. Target of 108.1. 114.4 and 115.5 Resistance.

Thursday, May 27, 2010


Organisation for Economic Co-operation and Development (OECD) has warned the euro zone to be more attention to their economic recovery and also the Euro exchange rate, since the debt crisis that hit Europe could threaten the economic recovery of the region. According to predictions, the European economy will register 1.2% growth this year. While the OECD forecasts growth in Europe will only reach 0.9%.

According to Germany, the disbursement of funds amounting to hundreds of billions of Euros to the bailout crisis, the Greek is a difficult step for all members if it is not able to manage finances effectively. While according to the OECD, will be more effective if carried out for closer scrutiny of each country and provide financial sanctions for countries that do not pay their loans on time. OECD members are predicted to experience economic growth of 2.7% this year and 2.8% in 2011. Economic growth is predicted to reach 1.2% this year, and 2.5% next year is still far better than other developed economies, except China and India. The OECD also suggested the Bank of England to raise interest rates to 3.5% in the previous year end 2011 from just 0.5%.


Written by surabayaforex.com
USD / CAD had darted sharply near 1.06. However, the pair are now back turned down to around 1.055. Action sale reportedly occurred at 1.06 and a large enough amount. If the pair back up, then sell interests reportedly seen again at the level of 1.066. Some of the news circulating about the possibility of the Bank of Canada will not raise interest rates next month, where currently many are predicting the opposite. Pair still potentially go down with the targets at 1.048.
EUR / USD: Bearish. Target of 1.214. Resistance 1.273.
USD / JPY: Bearish. Target 88.3. 91.9 Resistance.
GBP / USD: Bearish. Support 1.423 and 1.411. Resistance 1.47.
USD / CHF: Bullish. Target of 1.174. Support 1.145 and 1.136.
AUD / USD: Bearish. Target 0.8. Resistance 0.858.
USD / CAD: Bullish. Target of retrace 1.041. Resistance 1.085.
EUR / CHF: NEUTRAL. Support of 1.4. Resistance 1.459.
EUR / GBP: NEUTRAL. Support 0.84. Resistance 0.87 and 0.881.
EUR / JPY: Bearish. Target of 108.1. 114.4 and 115.5 Resistance.

Tuesday, May 25, 2010


International Monetary Fund (IMF) began to focus on the Spanish economy now appears to need a great effort to restore its economy. According to the IMF, now Spain is facing some tough challenges like reforming dysfunctional labor markets and the banking sector. The IMF comments came after hearing the Spanish authorities who want to help creditors Cajasur at the end of pecans yesterday.

The administration must borrow money to pay for public services because of taxes and other revenues are not sufficient. It shows the economic decline of Spain. This is not the first comment from the IMF, the IMF had also previously warned Spain to reform its economy, such as the payment of employee wages.

Last week, the Spanish government has planned to set up funds of 15 billion Euros to pay the wages of workers and reduce the deficit Tertiary. In addition, Spain also had to overcome the problem of unemployment which has reached more than 20%. Amid concerns Greece and also failed to pay the Spanish crisis, 27 members of the European Union and the IMF again provided funding amounting to 750 billion Euros to overcome this crisis. 440 billion loan funds are sourced from each country, 60 billion from the European Commission funds and another 250 billion from the IMF.
AUD / USD still depressed at 0.82. Pair still potentially fall further, given the Asian stock markets fell further and further into the red zone. Currently Nikkei and Kospi -3% -4%. Sell stop reportedly waiting in 0.818, and if touched, it will bring the AUD / USD to move downward. In addition, tensions between North and South Korea is heating up also affect Asian stock markets.
Euro still depressed until noon today. EUR / USD still survives in the range of 1.23 today. Investors are still cautious, they choose the USD and the Yen as a safe-haven. Therefore, the EUR / USD and EUR / JPY continues to move down. If 1.23 impregnable, then the next target at 1.228. More distant targets at 1.214.

European Session
-------------------------------------------------- ----

13:00 pm --- --- Swiss UBS consumption indicator data --- This is a combination of several other indicators, including consumer spending, consumer confidence, tourism, automotive, and retail. If better than the data released last month amounted to CHF 1.71 will be profitable.

15:30 pm UK --- --- --- Revised GDP Figures for GDP is very important because it will provide the benchmark of economic activity in the UK today. Predicted figures were the same as before, namely equal to 0.3%. If the release is better, it will provide support for the GBP.

16:00 pm --- Europe --- --- Total Industrial New Orders in manufacturing-manufacturing orders in Europe rose 1.5% last month. This month, an increase of 2.2% is predicted to be listed, if released in the 2.2% it will be good for the Euros.

American session
-------------------------------------------------- ----

21:00 pm --- America --- --- CB Consumer Confidence data has increased significantly last month and this showed increased optimism of American society against current economic conditions. Today's data is also predicted to rise again to 59.1. If released in the above figures, it will benefit the U.S. dollar.

22:15 pm --- --- American Speech Fed President Bullard --- St. Louis, James Bullard, will bring a speech titled "The Road to Economic Recovery Following the Financial Crisis" at the European Economics and Financial Center, London.


Written by surabayaforex.com

EUR / USD this morning depressed to below 1.23. Large-scale indiscriminate selling that hit the EUR / JPY makes EUR / USD is also affected down. Asian stock markets also create a pair of negative pressure. Some stop reportedly was waiting if the pair continue to fall through 1.229.

Monday, May 24, 2010

EUR / USD: Bearish. Target 1.214. Resistance 1.273.
USD / JPY: Bearish. Target 88.3. Resistance 91.9.
GBP / USD: Bearish. Target of 1.411. Resistance 1.47.
USD / CHF: Bullish. Target of 1.174. Support 1.136 and 1.126.
AUD / USD: Bearish. Target 0.8. Resistance 0.858.
USD / CAD and: Bullish. Target of 1.087. Support 1.041.
EUR / CHF: NEUTRAL. Support 1.447. Resistance 1.456.
EUR / GBP: NEUTRAL. Target of 0.881. Support 0.859 and 0.84.
EUR / JPY: Bearish. Target 109.5 and 108.1. Resistance 115.5.

GBP / USD continues to move down, test the 1.435 level. Investors seemed still not sure about the condition of England and Europe, they prefer to USD as a safe haven. Dow Jones Futures is also a negative current, this is also burden the GBP. If 1.435 impregnable, then a few stops have been waiting with a target at 1.432 and 1.423.

USD / CHF Slowly Moving Up

Posted by Unknown at 6:22 PM

USD / CHF back moves up to around 1.157. Today, banks in Switzerland on holiday, so there is no volatility on underlying CHF. If you continue to rise, the main target was 1.159 which is the highest point this year. Meanwhile, EUR / CHF which continue to fall back will lead to rumors of intervention.

EUR / GBP moved down quite significantly this afternoon. Pair currently available in .858. Action buy at 0.86 does not seem able to reduce the rate of movement of the EUR / GBP. A statement on the current Eruters mentioning middle of a very bad condition of Spain, and China is also currently considering the European crisis, it is feared impact on China's decision against the Euro. The next target is in the level of 0.856.

Of EUR / USD continues to move down this afternoon. In addition to the negative news for the Euro, Swiss officials also reportedly selling the Euro and buy USD. The debate re-emerged, it is believed this is the Swiss effort to diversify. Purchase interest reportedly waiting in the range of 1.24.
EUR / USD: Bearish. Target of retrace 1.273 and 1.309. Support 1.245.
USD / JPY: Bearish. Target 88.3. Resistance 91.9.
GBP / USD: Bearish. Target of 1.411. Resistance 1.452.
USD / CHF: Bullish. Target of 1.174. Support 1.136 and 1.126.
AUD / USD: Bearish. Target 0.8. Resistance 0.858.
USD / CAD and: Bullish. Target of 1.087. Support 1.041.
EUR / CHF: NEUTRAL. Support 1.447. Resistance 1.456.
EUR / GBP: NEUTRAL. Target of 0.881. Support 0.859 and 0.84.
EUR / JPY: Bearish. Target 109.5 and 108.1. Resistance 115.5.

EUR / USD
------------------------------------------

EUR / USD at the beginning of last week pressed down, and even had time to drop below 1.22. But the pair managed to recover and finally closed at 1.256. Trends this week will still bearish and there was major support at 1.233 level. If penetrated, then the 1.22 and 1.214 will be returned to the target. In contrast, there was resistance at 1.267. If impregnable, EUR / USD is expected to continue to rebound to 1.288 or even back to 1.3's.

GBP / USD
------------------------------------------

Like the EUR / USD, GBP / USD also briefly depressed to 1.423 last week. Pair finally managed to rebound and closed at 1.445 on the weekend trade. At the beginning of this week, the pairs are expected to move between 1.44 to 1.45. If through 1.45 then the recovery expected to continue to a level of 1.478 to 1.5. Conversely, if through 1.44, then GBP / USD fell to a 1.423 chance again. European problems are still a hot topic, and will certainly impact on the GBP. If it continues to fall, the GBP / USD has the potential to fall below 1.4. There is strong support at 1.38 which memjadi lowest point in 2009.

AUD / USD
------------------------------------------

Pairs started last week with support through 0.88. Furthermore, the pair fell sharply to a range of remarkable .807 and finally closed at around 0.83. This week, the pair are expected to be between 0.824 to 0.848. Pair still more likely to fall, the pressure is still large for a pair is under .857. If the downward movement continues, it will again be a target of 0.807, the next level of 0.77 which is the lowest point in 2008 when the crisis occurred, it will act as support. On the upper side, .857 will be the main target, if pierced, AUD / USD has the potential to do a correction to 0.88 or 0.9 again.

USD / CAD
------------------------------------------

Last week the USD / CAD sped up to a level of 1.078 and finally closed at 1.059 level. Canadian fundamentals are still strong, only the European problems kept investors panicked and this affects the movement of the USD / CAD. Pair likely to fall below 1.055 and a move towards 1.04. If penetrated, then 1.03 and 1.02 will return as the target. Conversely, if it moves up like last week, it will return the focus of 1.078, with 1.085 and 1.113 as the next target.



Written by surabayaforex.com

Friday, May 21, 2010


The EUR / USD is still trying to move up to 1.26 back. If the EUR / USD does not go down again this weekend, so this week the EUR / USD managed to end the downward movement during six consecutive weeks. This would indicate potential changes in direction, especially the European ministers meeting this weekend has the potential to give positive results for the Euro.
EUR / USD: Bearish. 1.309 retrace targets. Support 1.245.
USD / JPY: Bearish. Target 88.3. 91.9 Resistance.
GBP / USD: Bearish. Target of 1.411. Resistance 1.452.
USD / CHF: Bullish. Target of 1.174. Support 1.136 and 1.126.
AUD / USD: Bearish. Target 0.8. Resistance 0.856.
USD / CAD: Bullish. Target of 1.087. Support 1.041.
EUR / CHF: NEUTRAL. Support 1.447. Resistance 1.456.
EUR / GBP: NEUTRAL. Target of 0.881. Support 0.843.
EUR / JPY: Bearish. Target 109.5 and 108.1. Resistance 115.5.

EUR / USD moved down to around 1.255. If you continue to fall, then the sale is expected to trigger further action. PMI data France, Germany and Europe as a whole will be released this afternoon, followed by several other European data. Investor sentiment and too much data to be released is expected to make the EUR / USD volatile.

EUR / USD shot up to 1.267 this afternoon. A series of buy stops above 1.26 was touched and provide momentum for the EUR / USD. Possible changes in the trend started to look at this pair, although Europe has not improved but the fundamental demand for the Euro seems to increase. Resistance now at 1.28. If today's close above 1.28 will give a positive signal for the euro.

European Session
---------------------------------------------

14:00 pm --- --- Europe --- French Flash PMI PMI France continues to rise in recent months, the data today is predicted to equal or even better than last month. Better data will benefit from the prediction of the Euro.

14:30 pm --- Europe --- Germany --- Flash PMI Germany as the country with the strongest economy in Europe is expected to increase its PMI figures, continue increasing over recent months. Better data will benefit from the prediction of the Euro.

15:00 pm --- --- Europe --- Flash PMI PMI Europe as a whole is estimated to still be increasing, if released better than predicted, will benefit the Euro.

15:00 pm --- --- Europe --- Germany Ifo Business Climate Survey of 7000 business in Germany continues to show increasing optimism. Survey this month will also provide optimism predicted better.

15:00 pm --- --- Europe --- Current Account Deficit between exports and imports narrowed Europe last month. This month, predicted to shrink back to -2.7 billion euros. If released better than predicted, will benefit the euro.

15:30 pm --- UK Public Sector Net borrowing --- --- After sped up in the two previous months, the difference between revenues and expenditures are expected to shrink back from GBP 23.5 billion to GBP 11.1 billion.

American session
---------------------------------------------

18:00 pm --- Canada --- --- CPI and Core CPI data released last month was disappointing, but this month there will be a predicted increase in prices of goods and services around 0.2%. If released better than predicted, would be advantageous CAD.

19:30 pm --- --- Canadian Core Retail Sales and Retail Sales --- Canada's strong economy makes increasing public consumption. Today, data is predicted retail sales would still be positive. If released in the above predictions, it will be good for CAD.



Written by surabayaforex.com

EUR / USD had moved up to around 1.258 before finally fell back to 1.256 today. Pairs tend tersupport This morning, Asian stock markets plunging yet make a pair burden. Dow Jones' overnight decline seems to impact on the concerns of investors and they would prefer to be cautious at this time.

USD / JPY rebound this morning, above the 90.0 level. Pairs begin recovery after a significant drop to 88.9 last night. Sell limit reportedly already looking at the range of 90.3 to 90.4. Above those levels, the buy stop was found already waiting in 90.5. Interest in buying the 89.0 will be supported for now.

Thursday, May 20, 2010

EUR / USD: Bearish. Target 1.2. Resistance 1.245.
USD / JPY: Bearish. Target 90.3. 93.6 Resistance.
GBP / USD: Bearish. Target of 1.411. Resistance 1.47.
USD / CHF: Bullish. Target of 1.174. Support 1.126.
AUD / USD: Bearish. Target of 0.858. Resistance 0.903.
USD / CAD: NEUTRAL. Target of 1.073. Support 1.014.
EUR / CHF: Bearish. Resistance 1.447.
EUR / GBP: NEUTRAL. Target 0.84. Resistance 0.862.
EUR / JPY: Bearish. Target of 110.7. Resistance 115.5.

AUD / USD moved down to .843 this morning. Some funds are found to buy off position and make AUD depressed this morning. Asian stock markets are negative also makes the AUD weakened. The development of the stock market seems to still be highlighted and will continue to affect the strength of the AUD in the Asian session today.
EUR / USD: Bearish. Target 1.2. Resistance 1.245.
USD / JPY: Bearish. Target 91.0. 93.6 Resistance.
GBP / USD: Bearish. Target of 1.411. Resistance 1.47.
USD / CHF: Bullish. Target of 1.174. Support 1.126.
AUD / USD: Bearish. Target of 0.858. Resistance 0.903.
USD / CAD: NEUTRAL. Target 1.05. Support 1.014. Resistance 1.073.
EUR / CHF: Bearish. Resistance 1.447.
EUR / GBP: NEUTRAL. Target 0.84. Resistance 0.862.
EUR / JPY: Bearish. Target of 110.7. Resistance 115.5.

Wednesday, May 19, 2010


EUR / USD is relatively stable at around 1.22 this evening. However, the pair still have a potential fall back as investors tend to prefer to sell. Option barrier at 1.21 and 1.205 will be supported for now. U.S. data later tonight and will be waiting for Trichet's speech. Buy stops above 1.223 rumored to exist.

EUR / USD is relatively stable at around 1.22 this evening. However, the pair still have a potential fall back as investors tend to prefer to sell. Option barrier at 1.21 and 1.205 will be supported for now. U.S. data later tonight and will be waiting for Trichet's speech. Buy stops above 1.223 rumored to exist.

AUD / USD fell further and further depressed, even touching .842 before finally returning increased slightly to 0.845. Investors continue to diversify and make the depressed AUD. Option barrier at 0.85 and 0.855 will be strong resistance for the AUD / CAD. The next target in the down side is the level of 0.84, 0.838, 0.832, and 0.824. If you still hold down the level of 0.81 to 0.8 will be the target of bearish AUD / USD.

Direct selling emerged after the GBP / USD move up through 1.435. Pair 1.437 touched before finally moving down again. Pressure on the euro impact on the GBP and several other currencies. The development of European issues and also the results of the MPC will continue to look forward to voting.

EUR / GBP continued to pressure and got down to around 0.849. Statement Kanselit Germany, Angela Merkel, that the Euro is currently is in danger, triggering investor panic and make the currency more and more depressed. BoE MPC meeting this afternoon will be highlighted and the potential to affect the movements of EUR / GBP.

USD / CHF still survives in the range of 1.148. Pair hold tersupport after a night of touching the highest point of 1.153. Still great interest in buying and USD / CHF chance again pushed to the 1.15 range. Target EUR / CHF is in the range of 1.17 to predict who last touched in April 2009.

GBP / USD shot up to 1.434. Pairs begin recovery after a depressed throughout the Asian session earlier. The next focus is on the MPC Minutes afternoon. If you go back down, then the target of GBP / USD at 1.42 and 1.411 level. Level 1.4 and 1.38 will also be a target, if trends continue bearishnya pair.

European Session
-------------------------------------------------- -

15:30 pm --- UK MPC Meeting Minutes --- --- Bank of England will hold a meeting to discuss British economic policy, and also determine the interest rate further. Voting predicted would still choose to keep interest rates at the same level.

American session
-------------------------------------------------- -

19:30 pm --- Canada --- --- Wholesale Sales in Canada's wholesale sales last month is expected to decrease relatively thin stagnant or increased 0.3% today. If released more than 0.3%, the CAD would be beneficial.

19:30 pm --- --- United States --- CPI prices of goods and services consumed by a relatively stable society, the increase in recent months is only around 0.1% to 0.2%. Today, an increase of 0.2% return is predicted. If released in the figure, will membeirkan support for CAD.

22:00 pm --- Europe --- --- ECB President Trichet's speech will make a speech at the groundbreaking ceremony in New ECB Premises, in Frankfurt, Germany.

1:00 pm --- America --- --- FOMC Meeting Minutes of the FOMC meeting is anticipated because it will give a detailed description of the U.S. economy and possible policies to be applied. In addition, will be voting interest rates for time to come.
EUR / USD: Bearish. Target 1.2. Resistance 1.245.
USD / JPY: Bearish. Target 91.0. 93.6 Resistance.
GBP / USD: Bearish. Target of 1.411. Resistance 1.47.
USD / CHF: Bullish. Target of 1.174. Support 1.126.
AUD / USD: Bearish. Target of 0.858. Resistance 0.903.
USD / CAD: NEUTRAL. Target 1.05. Support 1.014. Resistance 1.073.
EUR / CHF: Bearish. Target of 1.392 and 1.377. Resistance 1.412.
EUR / GBP: NEUTRAL. Target 0.84. Resistance 0.862.
EUR / JPY: Bearish. Target of 110.7. Resistance 118.7.

Tuesday, May 18, 2010


GBP / USD was still depressed to the afternoon. Since raced down from 1.505 last week, the pair seem to move up the difficulty. Analysts predict, 1.425 points will be a vital support, if pierced by the GBP / USD likely to weaken to around 1.35 which is the lowest point last January 23, 2009.

GBP / USD moves up to around 1.452 this afternoon. But the pair failed to continue its upward movement and turned into the range of 1.444. If the pair managed to climb through 1.452 then the target is in the range of 1.455 and 1.46 options expiry

EUR / USD moves up after a big buying action in the range of 1.231 to 1.232. Direct pair sped up and there are now at 1.242 level. For now, the pair still stuck in the range of 1.242. The positive developments in Greek bond making tersupport pair. Buy stops further on the range of 1.244 to 1.245.
NZD / USD moved down to around 0.695 in the Asian session today. Indiscriminate selling by some funds are rumored to be the cause of the weakening of the AUD and NZD against the USD at this time. Resistance at 0.7 level. Meanwhile, there is support at 0.691 level.
European Session
-------------------------------------------------- -----

15:30 pm --- --- England --- CPI inflation rate in the UK continue to rise past the UK government targets, but Mervyn King repeatedly assured that inflation remains under control. Increased to 3.5% predicted would happen and would force Governor Mervyn King issued a statement about British inflation.

15:30 pm --- --- England --- RPI Retail Price Index also moved up to around 4.4% last month, and today predicted there will be another increase. BoE Governor, Mervyn King, will start to reveal his strategy seems to bring down inflation if there is an increase further.

UK BoE Inflation Letter --- --- Governor Mervyn King will give his opinion about inflation, followed by the possibilities of monetary policy will be applied. Optimistic statement that will benefit the GBP.

16:00 pm --- --- Europe --- Germany ZEW Economic Sentiment German investor optimism rose sharply last month, but today is predicted to be corrected from 53.0 to 47.1. If released under the prediction, will increasingly burden the Euro.

16:00 pm --- --- Europe --- CPI, CPI Figures for Europe are relatively the same as predicted last month in the range of 1.4%. Even if there is an increase, analysts predict will still be around 1.4% to 1.5%. If released on the prediction, will benefit the euro.

American session
-------------------------------------------------- -----

19:30 pm --- Canada --- --- Foreign Security Purchases These data indicate that the investment products purchased by foreign investors, an increasingly large number of predictions will benefit CAD.

19:30 pm --- --- United States --- Building Permits Permit new building is relatively the same as predicted last month. If released on a USD 680 000 will be profitable, as it shows increasing optimism in the property sector.

19:30 pm --- --- United States --- PPI of producer price of goods sold is likely to remain or are predicted to increase 0.1%, just thin. When released in the above predictions, it would be advantageous USD.

19:30 pm --- America --- --- Total Housing Starts new buildings that began construction last month is predicted to increase to 660 000. If released on the prediction will be good for the USD, as more and give a positive signal for the property sector which is one reason the final crisis of 2008 ago.

--- 23:20 pm --- American Speech Fed President Sandra Pianalto --- Cleveland will bring a speech titled "Forecasting in Uncertain Times" at the Economic Club, Pittsburgh. Optimistic statement that will provide support for the USD.


Written by surabayaforex.com
AUD / USD tersupport and slowly rose to 0.874. Previously, the pair was depressed and down touching the 0.87 level. AUD tersupport by the statement that the RBA rate hike yesterday is right May 4, and the crisis of Europe is not too much impact on Australia's economy. Asian stock market development is likely to become the next spotlight

Monday, May 17, 2010

GBP / USD failed to continue the rate of gains. Pair back down and is now in the range of 1.44. There is a rumor of an American investor to make the target cells with 1.355 or 1.3. Meanwhile, analysts predict the GBP / USD just to get out of pressure capable of rising to touch when the big buy-stop at 1.485.

USD / JPY moves upward to around 92.3. USD and Yen investors seem to still be an option for now. Interest in buying the 92.0 and 91.8 have been waiting for and will be supported. If impregnable, sell stops are at the level of 91.7 and 91.4. On the upper side, there is interest in selling in the range of 92.4 and 92.5. Buy stops above 92.5 have been waiting for.

EUR / GBP moving back down to .852 after it was up to .859. Pairs move down after the comments about the British budget submitted by George Osborne. According to him, the deficit problem be the most important issues and the budget will be announced on June 22, 2010.

EUR / USD moved down to around 1.223 in the Asian session earlier, but the pair tersupport and rose to 1.23 this afternoon. Pairs need to penetrate the 1.24 level to get out of pressure, while it is under that level, the chance of action there is still a big resale. News about Europe is still negative until noon today, and this will burden the Euro.

GBP / USD back up to around 1.444 in early European session today. Action buying by Eastern European investors this afternoon to make GBP tersupport. There are reportedly selling interests in 1.445. If penetrated, then the resistance level of 1.45 will be next. Possible risk aversion is still high and could potentially bring the GBP / USD to 1.425 again.

International Monetary Fund (IMF) has given warning to the developed countries to cut their spending budgets in order to condition the economy is not deteriorating. The warning came after a number of countries in Europe have to deal with the riots that occurred due to economic conditions. The IMF also suggested that policymakers should be able to lower average debt ratio of up to 110% of GDP in 2015.

One of the suggestions given by the IMF for the economic recovery is to tighten the VAT policy by eliminating tax cuts in some businesses such as books, children's clothing and food as well. According to the IMF, if the British adopted this policy then there is the possibility he will gain up to 3.3% of GDP without having to raise VAT. The IMF is more focused to England because that State is a State with the largest debt increase during the last 20 years compared with other developed countries. Estimated deficit of Greece during the year amounted to 8.1% of GDP. Whereas other countries with a severe deficit is Ireland at 12.2%, UK 11.4%, and the United States amounted to 11%. Nevertheless, these countries are not too worried about than the Greek because they are underpinned by a strong economy.


Written by surabayaforex.com
EUR / USD: Bearish. Target 1.233. Resistance 1.253.
USD / JPY: NEUTRAL. Support 92.2 and 90.9.
GBP / USD: Bearish. Support 1.447. Resistance 1.472.
The USD / CHF: Bullish. Target of 1.139.
AUD / USD: NEUTRAL. Target of 0.871. Resistance 0.903.
USD / CAD: NEUTRAL. Target 1.05. Support 1.01 and 1.002.
EUR / CHF: Bearish. Target 1.4. Resistance 1.412.
EUR / GBP: NEUTRAL. Target 0.84. Resistance 0.862.
EUR / JPY: Bearish. Target of 110.7. Resistance 122.3.

AUD / USD rebound to .877

Posted by Unknown at 1:46 PM

AUD / USD moves up again to 0.877 in late Asian session this afternoon. Some big investors reportedly buying action and make the AUD / USD tersupport. Resistance at .884 and the development of the global stock markets still continue to be in the spotlight.

Prime Minister of Greece, George Papandreou on Sunday said it would legal action against U.S. banks, thinks they have a big responsibility towards the Greek debt crisis. George added in one interview to CNN, that Greece was the victim of U.S. investment banks, there are some errors and lack of transparency in the financial sector. When asked if legal action is still possible, Papandreu not deny the possibility. Papandreou said that the parliamentary investigation will highlight the problem of aberrations that occur and the negative impacts of these practices. German Chancellor Angela Merkel, also criticized the banks that helped aggravate the crisis of Greek thought by dramatizing the situation.

In a poll in the newspaper Ethnos, the results showed that the population of Greece by 58.8 per cent thought that the country will exit from bankruptcy, by contrast 36.6 per cent thought that Greece was not able to cope. The IMF said that European countries are too long to respond to the problem of the Greek crisis. Strauss-Kahn said in a statement in the newspaper Ethnos, stating that if the problem is resolved in February, the cost of consumption will be lower than current conditions, but the handling of the problem takes a very long time. The IMF and the European Union have approved a bailout package of Greece only in early May, and a week later was forced to place the funds with trillions of USD as emergency funds because investors continue to remove the euro and European stocks.


Written by surabayaforex.com
GBP / USD last at the current level of 1.431, after it was down sharply to 1.425. A rumor says state budget in the UK is far worse than predicted, it makes the GBP hit by indiscriminate selling. Support at 1.411 and if penetrated, option expiry at 1.4 will be the next target.
EUR / USD
-------------------------------------------------
Last week the pair started the movement with a huge gap. However, the pair then moved down significantly, and finally closed at around 1.236. The movement this week is predicted to be the same as last week, with a relatively weak euro against the USD. Below the target level was 1.233, 1.22, and 1.206. If it still continues to fall, then the pair will potentially move under 1.2. Meanwhile, there was resistance at the level of 1.24 and 1.252. If impregnable will open the door of recovery towards 1.3. Euro likely continue to be depressed, until a clear solution to the debt problem countries, the European Zone.

GBP / USD
-------------------------------------------------
GBP / USD also moved down significantly to 1.453 last week. Pair expected to go down like last week, sentiment against the GBP is still positive. Moreover, the European debt problem bad for some British banks. Predictable target movement is in support if pierced the 1.44 and 1.413 and 1.395 would be targeted. Major support at 1.35 which is the lowest point in 2009. Meanwhile, at the top, 1.478 will be the resistance, followed by the 1.505 level.

AUD / USD
-------------------------------------------------
Like the EUR / USD and GBP / USD, AUD / USD is also a significant move down last week and finally closed at around 0.885. AUD is fundamentally still strong, but the panic that hit global stock markets kept investors reduce their investment and choose a safe haven. Resistance for the AUD / USD is in 0.9 at the beginning of this week, when pierced by the .914 and .922 will be the next target. On the down side, if the pair can penetrate to 0.88 then 0.857 will be the target, followed by .823.

USD / CAD
-------------------------------------------------
Same with the AUD, CAD actually has good fundamentals, but the panic of investors makes the USD / CAD moves up. Pair the range of 1.033 to close at the end of last week, after earlier touching a level of 1.01. Earlier this week, the range is between 1.02, and 1.04. If 1.02 impregnable, then 1.01 will return as the target. If it still continues to fall, then back below potential pairs of 1.0. Conversely, at the top, if 1.04 impregnable, then 1.068 will be the next resistance. A very strong resistance at 1.078 but it seems to not be touched at this time.


Written by surabayaforex.com
AUD / USD fall swiftly this morning to 0.877. Indiscriminate selling by Asian investors make pair sped away down. The Nikkei is currently down almost 2% and make the depressed AUD. Predicted targets in the 0.871 level. A number of sell stops seemed to have waited since the pair made it down through 0.88.

Friday, May 14, 2010

EUR / USD: Bearish. Target 1.233.
USD / JPY: NEUTRAL. Target 95.0. Support 92.2 and 90.9.
GBP / USD: Bearish. Target of 1.447.
The USD / CHF: Bullish. Target of 1.139.
AUD / CAD: NEUTRAL. Support 0.889. Resistance 0.908.
USD / CAD: NEUTRAL. Target of 1.01 and 1.002. Resistance 1.03.
EUR / CHF: Bearish. Target 1.4. Resistance 1.412.
EUR / GBP: NEUTRAL. Target 0.84. Resistance 0.862.
EUR / JPY: Bearish. 114.7 Support. Resistance 122.3.
EUR / USD: Bearish. Target of 1.253 and 1.246. Resistance 1.274.
USD / JPY: NEUTRAL. Target 95.0. Support 92.2 and 90.9.
GBP / USD: Bearish. Target of 1.447.
The USD / CHF: Bullish. Support 1.09 and 1.073. Resistance 1.125.
AUD / USD: Bearish. Support 0.889 and 0.88. Resistance 0.912 and 0.915.
USD / CAD: Bullish. Support 1.01 and 1.002. Resistance 1.03.
EUR / CHF: Bearish. Target 1.4. Resistance 1.412.
EUR / GBP: Bearish. Target 0.84. Resistance 0.862.
EUR / JPY: Bearish. 114.7 Support. Resistance 122.3.
The Federal Reserve said that although financial conditions in the United States has grown since the crisis of 2008, events in Europe still show a vulnerable condition. Donald Kohn said in a speech in Canada that financial markets are still vulnerable due to the debt crisis of Europe. Therefore, in these conditions, the Fed take joint action with other central banks on Sunday to exchange currency. Banks that engage in "exchange" The dollar is the Bank of Canada, Bank of England, European Central Bank, Swiss National Bank and Bank of Japan. European banks need dollars to be loaned to companies in other continents. European companies hire employees, purchase of raw materials, oil and commodities by using the dollar.

Fed to lend 9.2 billion dollars to the European Central Bank to conduct such exchanges. European debt crisis first appeared in Greece later emerged fear will spread to Spain, Portugal and the euro zone countries other. This crisis has stimulated demand for U.S. dollar and weaken the value of the Euro. Narayana Kocherlakota, frontman of the Federal Reserve Bank of Minneapolis says that the decision also was required to maintain a stable dollar. They do not do this because there is a special relationship with Europe - they are American policymakers, it is intended to strengthen the American economy, he added in a speech to business people in Wisconsin.


Written by surabayaforex.com
American session
------------------------------------

19:20 pm --- Europe --- Speech --- Axel Weber President of the Deutsche Bundesbank will bring a seminar entitled "Lessons for monetary policy from financial crisis" Inflation Targeting at the 12th annual seminar at Banco Central do Brazil, Rio de Janeiro.

19:30 pm --- Canada --- Manufacturing --- After a relatively stagnant sales last month, the volume of sales by manufacturing in Canada is expected to again increase at 1.1% today. If released better than these figures, it will be advantageous CAD.

19:30 pm --- --- U.S. Core Retail Sales and Retail Sales --- Having posted a significant increase last month, retail sales data today is predicted to slow down, but still in positive zone.

20:55 pm --- --- America --- Preliminary UoM Consumer Sentiment consumer sentiment in the last three months continues to decline, and last month a significant decrease. Data today will probably show an increase to 73.5, if released in the above predictions will benefit the USD, contrary to a further decline will put pressure for the currency.

21:00 AM Business Inventories --- --- America --- This figure shows the amount of inventory tied up in the manufacturing warehouse, the smaller the numbers were released, the better for CAD because it depicts the high consumer demand.


Written by surabayaforex.com
USD / JPY started to move up. Stock market stabilizes and the rising demand for USD / JPY pair tersupport made. Resistance was 93.0 and the intention to purchase reportedly already looking at the top level, with a target of 94.0. While on the down side, there is support at 92.5 and 92.0. Sell stops are rumored to 92.2 to 92.0. (Hits)
GBP / USD trying to survive in the level of 1.46. Pair looks still depressed after selling a massive action occurred since yesterday. Statement of Governor Mervyn King that the UK needs to increase exports in order to cut the budget is not too large, making the GBP dropped. The next target is predicted to exist at the 1.447 level. Resistance for GBP / USD there i 1.463 level.
EUR / USD: Bearish. Target of 1.253 and 1.246. Resistance 1.274.
USD / JPY: NEUTRAL. Target 95.0. Support 90.9.
GBP / USD: Bearish. Target of 1.447.
The USD / CHF: Bullish. Support 1.09 and 1.073. Resistance 1.125.
AUD / USD: Bearish. Support 0.889 and 0.88. Resistance 0.912 and 0.915.
USD / CAD: Bullish. Support 1.01 and 1.002. Resistance 1.03.
EUR / CHF: Bearish. Target 1.4. Resistance 1.412.
EUR / GBP: Bearish. Target 0.84. Resistance 0.862.
EUR / JPY: Bearish. 114.7 Support. Resistance 122.3.

Thursday, May 13, 2010

EUR / USD More Depressed, Translucent 1.26

EUR / USD pressed down through the 1.26 level. Pair had even touched the 1.257 level. Some cells stop reportedly was waiting below the pair at 1.26 and ready to push farther down to the bottom. Ri predicted target levels have also option expiry 1.251 and 1.25.
EUR / CHF bounce at 1.407; Watchful Intervention SNB

EUR / CHF had strengthened to around 1.407, but the pair failed to continue its gains and turned down to 1.401. Option expiry is in the range of 1.4 and acts as a support for the moment. SNB is expected to get ready to intervene if the CHF moves too strong against the Euro.
GBP / USD drop on Selling in Action 1.492

GBP / USD back down to around 1.485. Action on sales in the range of 1.492 seems still too strong to be penetrated by the GBP / USD. UK trade data this afternoon will be highlighted. Meanwhile, developments in the UK general election seemed to find a bright spot, the coalition is expected this week terbentuh.
JPY weakened against major currencies

In Asian trading session today, the JPY weakened against foreign currencies back mayor.JPY fell 0.6% against the GBP than when it closed in trading yesterday. When these pairs are traded with the 139.27 level. If the JPY continued to weaken pair predicted would touch the level of 139.9. JPY continued to weaken against the USD until the level of 93.27 with the prediction of the next targets exist at the level of 95.00

JPY continued to weaken against the CHF to the 84.19 level is the lowest level in three days this time. If the pair continues to weaken the level of 85.5 is predicted to be touched. JPY is also down to its lowest level in two days against the EUR. JPY is currently trading at 118.39 vs. the EUR. If the pair continues to weaken predicted would touch the level of 122.3.
Greek Interest Loan Fund IMF For the First Time.

Greece pulled the emergency relief fund of 5.5 billion Euros (6.9 billion dollars) from the IMF, becoming the first European zone member countries are forced to ask for help at the IMF. This was done amid strong protest in Athens against government approval would be a huge bailout funds from the EU and IMF, 110 billion Euros. Greece withdrew the funds without any problems, everything was done in close collaboration by the IMF - everything's under control, as we are told the Minister of Finance, told AFP. George Papandreou said that the bailout was a huge success for his country and the majority, the public accept such action even though they are not happy.

Greece requires 9 billion dollars to pay their debts next Wednesday. Minister of Finance also said that the government expects the loan amounting to 14.5 billion euros from the European Union at the beginning of next week. Economy to contract by 0.8 percent in the first quarter, located on the same level in the last quarter of 2009. Some economists have warned that budget cuts will encourage the country's greek into a pit who increasingly in crisis and hamper growth, but some say that reform is underway.


Written by surabayaforex.com
European Session
-------------------------------------------------

15:00 pm --- Europe --- --- Evaluation of the ECB Monthly Bulletin, a monthly ECB will give Europe's economic situation, the prediction rate and also the possibility of future economic policy. An optimistic outlook will benefit the euro.

15:30 pm UK --- --- --- Trade Balance UK last month's trade deficit shrank significantly to -6.2 billion GBP, this month is predicted to be released in relatively equal numbers of about -6.5 billion GBP. If released to shrink compared to last month, will be very good for the GBP.

American session
-------------------------------------------------

19:30 pm --- --- America --- The number of unemployment claims Unemployment Claims is expected to return decreased to 440 000. If released under the numbers will be beneficial to USD.

19:30 pm --- --- United States --- Import Prices of imported goods prices in the U.S. increased 0.7% last month and today's report is expected to show an increase again by 0.8%. Better data will benefit from the prediction of CAD.

20:00 pm --- America --- --- Speech Donald Kohn's speech will be delivered at a panel discussion titled "Monetary Policy and Lender of Last Resort" at the Centre for Monetary and Financial Economics Conference, Ottawa.

23:30 pm --- --- America --- the President's speech Bernannke Fed, Ben Bernanke, will speak at the Federal Reserve's Conference, in Philadelphia. Optimistic statement that will provide support for the USD.

1:00 pm --- Canada --- --- Speech Pierre Duguay Deputy Governor of the Bank of Canada will follow the panel discussion at Carleton University, Ottawa. An optimistic statement about Canada's economy will be better for CAD.


Written by surabayaforex.com
AUD / USD moves up to around 0.898 this morning. Some buy-stop action and also to buy EUR / USD makes pair tersupport. Resistance at .899 level and if penetrated, then the .903 will be the next target.
EUR / USD: Bearish. Support 1.275 and 1.252. Resistance 1.312 and 1.336.
USD / JPY: NEUTRAL. Target 95.0. Support 90.9.
GBP / USD: Bearish. Target of 1.47 and 1.447. Resistance 1.512 dan1, 528.
USD / CHF: Bullish. Support 1.09 and 1.073. Resistance 1.125.
AUD / USD: Bearish. Support 0.88. Resistance 0.912 and 0.915.
USD / CAD: NEUTRAL. Support 1.01 and 1.002. Resistance 1.03.
EUR / CHF: Bearish. Target 1.4. Resistance 1.433.
EUR / GBP: Bearish. Target of 0.843. Resistance 0.881.
EUR / JPY: Bearish. 114.7 Support. Resistance 122.3.
EUR / USD is still trying to penetrate the resistance is 1.266. Pairs tend tersupport this morning and if 1.266 impregnable, the buy stop reportedly was waiting with a target of 1.269 to 1.271. There are reportedly selling interests in a range of 1.269 to 1.27.
Instant / Spot Order

BUY
Buy / Long means taking a position buy a currency pair, and will earn a profit when the currency front increases and / or the currency is behind the decline.

Example: Buy EURUSD, it will profit if the Euro rises and / or the USD falls. Conversely, if the euro falls and / or USD rises, it will suffer losses.

SELL
Sell / Short Sell means taking a position of a currency pair, and will earn a profit when the currency front decreased and / or the currency is behind the increase.

Example: Sell EURUSD, it will profit if the Euro fell and / or the USD rises. Conversely, if the euro rises and / or the USD falls, it will suffer losses.

====================================================================

Take Profit & Stop Loss

TAKE PROFIT

To buy a position, the position will be covered if the bid price rise shown on the Take Profit.
To sell the position, the position will be closed down if the Ask price reaches listed in Take Profit.

Applications: A now buy EURUSD at 1.2345, if the EURUSD rose to 1.2400, then A will buy its close position. Then A set take profit at 1.2400.

STOP LOSS

To buy a position, the position will be closed if the bid price reaches a specified fall in Stop Loss.
To sell the position, the position will be closed if Ask increased to reach a price stated in the Stop Loss.

Applications: A now buy EURUSD at 1.2345, if the EURUSD fell to 1.2300, then A will close its buy position (to limit losses). Then A set of stop loss at 1.2300.

====================================================================

Pending Order

BUY STOP:

Orders will be buy when Ask the same as stated in the transaction prices Buy Stop. Buy Stop could be opened if the price is now lower than the price listed on the Buy Stop transaction.
In essence, if the price rises until the X, I buy, use buy Stop

SELL STOP:

Order will be a sell if the bid equal to the price indicated on the Sell Stop transaction. Sell Stop could be opened if the price is now higher than the price listed on the Stop Sell transaction.
In essence, if the price drops to X, I sell, then use the Stop Sell

BUY LIMIT:

Order will be buy when Ask the same as indicated on the transaction price Buy Limit. Buy Limit may be opened if the price is now higher than the price listed on the transaction buy Limit.
In essence, if the price drops to X, I buy, then use Limit Buy

SELL LIMIT:

Order will be a sell if the bid equal to the price indicated on the Sell transaction limit. Sell Limit could be opened if the price is now lower than the price listed on the Sell transaction limit.
In essence, if the price rises until X, I sell, then use Limit Sell

Wednesday, May 12, 2010

EUR / USD: Bearish. Support 1.275 and 1.252. Resistance 1.312 and 1.336.
USD / JPY: NEUTRAL. Target 95.0. Support 90.9.
GBP / USD: Bearish. Target of 1.47 and 1.447. Resistance 1.5 and 1.513.
USD / CHF: Bullish. Support 1.09 and 1.073. Resistance 1.125.
AUD / USD: Bearish. Support 0.88. Resistance 0.912 and 0.915.
USD / CAD: NEUTRAL. Support 1.01 and 1.002. Resistance 1.03.
EUR / CHF: Bearish. Target 1.4. Resistance 1.433.
EUR / GBP: Bearish. Target of 0.843. Resistance 0.881.
EUR / JPY: Bearish. 114.7 Support. Resistance 122.3.
A large investors sell reportedly close positions on EUR / GBP after the BoE inflation report this afternoon. This makes the pair tersupport and slowly crept up to .852. In addition, the announcement of the European Union that Estonia will join their alliance in January 2011 a little too much to provide support for the Euro. (Rht)
On Wednesday the European Commission gives green light for Estonia to be a member to 17, as the user of the euro currency. Olli Rehn said that Estonia has achieved a high level in the approach of a strong economy and is ready to adopt the Euro on January 1, 2011. To ensure success in adopting the euro, Estonia must work hard to cultivate their fiscal policy. To be included in the qualifications, candidate countries must comply with certain criteria - maintaining the state debt and deficits, as well as inflation, limiting fluctuations in foreign exchange markets and interest rate levels. Based on estimates of the European Union, Estonia will publish a deficit amounting to 2.4 percent of GDP this year and debts amounting to 9.6 percent of GDP.

European Central Bank warned of Estonia to the standby to keep inflation low in a position to maintain domestic demand parallel to the fundamental situation. In 2007 Estonia to join the euro zone but was blocked by the inflation rate at that time. Estonia is growing fast, especially after joining the EU in 2004. Estonian Government spending has been shrinking in the fight against the crisis and get rid of all the trouble to switch from Kroon into Euro. There's speculation that the euro zone must be careful to recruit new members, especially with the pressure of the Greek debt crisis turmoil.

Written by surabayaforex.com
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