Escape from the US Dollar began.

According to data from Barclays Capital in the third quarter, central banks have turned 63% of foreign exchange reserves in yen and euros, which is a unique record. The news may be a sign of another price drop of the American currency in the near future.

Support and resistance for EUR/USD today.

S3	S2	S1	R1	R2	R3
1.4620	1.4660	1.4703	1.4711	1.4740	1.4780

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Trade Balance may shake the USD today.

A positive number indicates that more goods and services were exported than imported. The forecast is - 32.9B.

EUR/USD will probably be trading around 1.4700 today.

EURUSD remains in uptrend.

Current price 1.4757 and another rise close to 1.4800 looks possible later on today.

Gross Domestic Product (GDP) turned out to be negative for EUR.

The Euro lost rising levels after the GDP data was released today. The last release of the (GDP) shrank the European economy by only 0.1%, better than expectations. It was expected today that number to be confirmed.
However, this time the number was 0.2%, which did not boost the EUR. The currency even lost rising after the data was released.

Halifax HPI m/m and Manufacturing Production could shake the GBP.

Both indicators will be released today and they are expected to rise which would be positive for the British currency.

Current price of GPB/USD 1.5970

EUR remains in uptrend position

EUR/USD current price 1.4709. The currency pair is in uptrend position and possible levels of about 1.4800-1.4820 could be seen later on today or in a couple of days.

Services PMI positive for the GBP.

The British currency rose up with about 30 pips within 25 minutes after the Service PMI data was released.

EUR/USD remain in uptrend position.

Current price of EUR/USD is 1.4639. Possible levels of about 1.4750-1.4800 could be seen later on today. The Retail Sales m/m and the ISM Non-Manufacturing PMI will have an affect over the currency pair.

More US jobs lost than expected.

According to the Unemployment Rate which was released today, more US jobs lost than expected. The number in employment has now fallen for 21 consecutive months. That was negative for the American currency.

EUR/USD could go up to 1.4700

Current price EUR/USD 1.4615 and further test to levels of about 1.4690-1.4700 may be seen later on today. On the other hand we may see bottom levels around 1.4550-1.4580

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.