German Unemployment Increased in September.

The German unemployment has increased in September and now the jobless rate is 8.2%. The EUR fell from 1.4617 down to 1.4602 within 30 min after the data was released.

CBI Realized Sales pushed the GBP up.

CBI Realized Sales showed higher sales volume and it pushed the British Pound up from 1.5841 up to levels of 1.5950-1.5960 shortly after the data was released.


Comment:
Position GBP/USD bought at 1.5858 and position sold at 1.5948. Profit of 90 pips.

EUR/USD is approaching 1.4600

EUR fell down during the day and posted a two week low price. It looks like in the last couple of hours the EUR has been approaching price of 1.4600

EUR could get close to 1.4500 today.

Current price of EUR/USD 1.4591. Downtrend to 1.4500 zone could be seen later on today. ECB President Jean-Claude Trichet will speak today about the european economy and his speach may affect the EUR.

Watch 1.4840 for EUR

If the EUR breaks above 1.4840-1.4850 the next target could be levels at about 1.4910-1.4920

EUR falls against USD today.

EUR/USD fell to 1.4625 during the day. The pair is about 0.40% below today’s opening price and fell 170 pips from the highs of the day.

EUR/USD reached 1.4840

EUR/USD reached a level of 1.4840, as long as it stays above that position we could see levels of about 1.4900 in a few days.

3 Most Predictable Currency Pairs:

Here are my top 3 most predictable currency pairs:

EUR/USD
EUR/GBP
USD/CHF

EUR reached 1.4689 during the day today.

The Euro jumped during the American session against the Dollar, rising more than 60 pips. Here are the support and resistant levels at this time:

S3	S2	S1	R1	R2	R3
1.4602	1.4639	1.4676	1.4686	1.4722	1.4759

German PPI and Current Account to be released today.

The german PPI is expected to rise back to 0.1%. On the other hand the current account to get back to about 4.3 billion. Both indicators are very effective for the EUR.

Watch for level 1.4650 EUR/USD

If the EUR/USD drops below the price of 1.4650 the downtrend may continue. On the other hand of the currency pair keeps levels above 1.4700 the uptrend will continue quite possible to about 1.4800 level.

EUR/USD holds above 1.4700

The Euro rose to 1.4733 reaching the highest price in almost a year. EUR/USD is holding above 1.4700, trading around 1.4712. The next resistance lies at 1.4770 and above at 1.4830.

Retail Sales in U.S. Jump 2.7%

Sales at U.S. retailers surged in August by the most in three years. The data was released today at 12:30 GMT and it was positive for the USD. It pushed the EUR down from 1.4609 to 1.4585 within 5 minutes. (profit of 24 pips)

EU Economy has grown this quarter.

Europe’s economy probably returned to growth in the current quarter after governments spent billions of euros to pull the region out of the worst recession in more than six decades, the European Union said.

The German ZEW Economic Sentiment will be released on Tuesday at 9:00 GMT and is expected to be positive for the EUR.

Further rise for EUR is still possible.

Current price EUR/USD 1.4578. The Trade Balance and the Unemployment claims statistics for the american currency will be released today and the forecast does not look very positive to push up the USD.

Possible levels of EUR/USD 1.4600-14630 or otherwise if the pair breaks down below 1.4450 next target more likely would be around 1.4400.

Further rally for the EUR is still possible to 1.4550

Current price EUR/USD 1.4488, further rally to 1.4550 is still possible to be seen in a day or two.

Comment:
Position bought at 1.4401 at 7:30 GMT and sold at 1.4514 at 15:05 GMT (profit of 113 pips)

The uptrend for EUR is still in favour.

Current price EUR/USD 1.4337 and watch for further rise close to 1.4400. If the pair break above this level, next target more likely would be 1.4500.

EUR could rise back to 1.4400 today.

Current price EUR/USD 1.4335 and a level of 1.4400 could be seen later on today. The German Factory Orders data will be released today at 10:00 GMT which could also push up the European currency.

EURUSD continues to move sideways. A fall towards 1.4100 could be possible or on the other hand if the currency pair break the level of 1.4400, that may push the EUR to a level of about 1.4500.

Unemployment Claims Data to be relased today.

This is the nation's earliest economic data. It will be released today at 12:30 GMT

ADP Non-Farm Employment Change Could be negative for USD.

Job creation is an important leading indicator of consumer spending. That is a good indicator for the economic activity. The ADP data will be released today at 12:15 GMT.

1.4400 is still in favour for EUR.

Current price EUR/USD 1.4344 and if the there's a break over this level we may see higher levels at about 1.4500 afterwards.

On the other hand, if the currency pair drops below 1.4200, next target could be a level of about 1.4100