4 Jan - 8 Jan 2010 News

Boring Monday...
Looking ahead for this week lots of news on Eur & GBP... first week of the month and in this year (all in local time):

Tue (5/1)
EUR German Unemployment Change (DEC) at 4.55pm
USD Pending Home Sales (MoM) (NOV) at 11.00pm

Wed (6/1)
GBP Nationwide Consumer Confidence (DEC) at 8.01am

Thur (7/1)
USD Federal Open Market Committee Meeting Minutes at 3.00am
GBP Bank of England Interest Rate Decision at 8.00am
GBP Bank of England Asset Purchase Target at 8.00am
JPY Official Reserve Assets (DEC) at 8.00am
EUR Euro-Zone Retail Sales (MoM) (NOV) at 6.00pm
EUR Euro-Zone Consumer Confidence (DEC) at 6.00pm

Fri (8/1)
EUR German Retail Sales (MoM) (NOV) at 3.00pm
GBP Producer Price Index Input n.s.a. (MoM) (DEC) at 5.30pm
EUR Euro-Zone Gross Domestic Product s.a. (QoQ) (3Q F) at 6.00pm
EUR Euro-Zone Unemployment Rate (NOV) at 6.00pm
USD Change in Non-Farm Payrolls (DEC) at 9.30pm
USD Unemployment Rate (DEC) at 9.30pm

Last week Adam mentioned about 2010 meltdown
Seems that FXCM analyst also have the same direction...
mostly said short EU, stronger Dollar, long UJ

http://www.dailyfx.com/forex/analyst_picks/debate/2009-12-31-1825-Forex_Trading_Recommendations_for_2010.html

so it would mean that this year, USD will be the strong currency?

That is what FXCM analyst is saying... not sure with other analyst

Towards end of 2009, there are many good news... too many I said.
So is it for real the economy recover in 2010 or is it too soon to say the worst is over?

I'm not sure myself...

Analyst surprise by unexpected NFP number (Bloomberg TV)
compared to last month: -11k this month increase to -85k

http://www.bloomberg.com/apps/news?pid=20601087&sid=aP0v0wdCG_YQ&pos=1

Or is EU heading back up? hmm..

Somehow EU getting stronger this week... even touched 1.45 area
maybe because EU ady take heavy beating last week?
or maybe problem with Greece has been solved? not sure...

Back to threading the chart pattern waters...

Testing FXopen manager's style of playing - set once a day.
he does it by breakouts and inside bars,
i do it by chart patterns (I want to migrate to naked trading.. haha)

Don't forget to update here ya... the test result...

Lazy to create new topic for this week since it's ady Friday...
Yen been selling hard since last night because Obama proposed to restrict risk trading for financial institutions which will limit demand for higher yielding asset

http://www.bloomberg.com/apps/news?pid=20601087&sid=a7vBrZoagVKk&pos=2

Last night, u can see in 2 hrs GJ been dropping frm 148.xx to 146.xx and this morning touching 145.xx area

More news on Obama proposal + Greece problem

http://www.actionforex.com/fundamental-analysis/daily-forex-fundamentals/risk-tolerance-evaporates-%11-the-president,-and-greece-dominate-20100121105032/

Here mentioned EJ going to test support 128.50/40 but this morning EJ is trading around 126.8x

http://www.actionforex.com/fundamental-analysis/daily-forex-fundamentals/afternoon-forex-overview-20100121105030/

Recap on yesterday:
Strong China CPI/PPI and weak EU PMI push EU sinking down further
read more:
http://www.actionforex.com/technical-analysis/daily-forex-technicals/eur%10usd-sinks-further-on-strong-china-cpi%10ppi-and-weak-eu-pmi-20100121105037/