Daily Forex Signal Outlook on EUR, GBP, JPY

Jan. 19, 2010 - PRLog -- EUR/USD Forex Signal

In recent days, poor behavior draws attention to the euro. Today in the morning EUR/USD was systematically dropping, pending index of Germany's ZEW Institute, which was worse than expected. The euro is also clearly loosing to the pound and the yen. On a daily and hourly charts on EUR/USD we can see the formation of visible flags, which suggests a continuing downward trend. Dislocation below 1,4250-60 area and confirms the weakness of the euro opens the way for further decreases in the direction of the new low. Today in the afternoon the market will react to the results of Citigroup, but with loose correlation with the stock exchanges, the reaction of the dollar is difficult to predict. In such a situation is best to stick to the technique, which suggests that further decreases the euro quotation.

GBPUSD Forex Signal

Strong downward trend on the EURGBP pair, namely the strengthening of the pound against the euro, is being continued. Pound gains are likely due to subsequent information relating to the acquisition of Cadbury. Kraft Foods has raised the purchase price to around 12 billion pounds. Pound also gained in anticipation of data on CPI inflation. The inflation rate was significantly higher than expected and amounted to 2.8% (vs. 2.3%). Quotations GBPUSD jumped up to a level of 1.6456 immediately after the data, followed by a rapid realization of profits. Tomorrow will be published unemployment data, and notes of the meeting of the Bank of England. however Highlights this week will be Friday’s data on retail sales.

USDJPY Forex Signal

Morning market tested support at 90.34, resulting from the abolition fibonacci 38.2% and this level was quite strong reflection. USDJPY helps quotation rises above all the better behavior of the dollar. Defended the U.S. dollar index support at 77.05, which increases the chance of a return to upward trend. If the 90.34 support on USDJPY is likely to boost nullifying half to 61.8% last move downward. This would give a potential range area increases 92,04-92,44. Weaker correction 91.60 is an argument for the scenario to extend downward adjustments in the sequence a-b-c.

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