Unemployment Rate to be released today:

The forecast is 9.9%. The current price of EUR/USD 1.4893 and it looks like the currency pair may reach levels of about 1.4950-1.4980 in a few days.

Strong buy GBP/USD:

Current price GBP/USD 1.6598. The currency pair is in uptrend position. Expecting to reach the price of about 1.6630-1.6650 later on today.

Positive news for GBP:

The Services PMI data showed the highest activity since August 2007. Possible uptrend on a 4 hour chart could push the GBP later on today.

1.4900 possible for EUR/USD:

The current price is 1.4758 and it looks that on a 4 hour chart the uptrend may continue to a possible target of 1.4900 later on today. There's ADP Non-Farm Employment Change and the ISM Non-Manufacturing PMI data to be released today which could be negative towards to American currency and my push up the EUR.

Services PMI for GBP:

The service PMI data will be published on Wednesday at at 9:30 GMT. It is expected to have a positive affect over the British currency. The forecast is 55.4 and last time it the actual data was showed better results than expected.

Strong sell EUR/USD:

Current price 1.4716 and on a 4 hour chart it looks like another drop to about 1.4650 is possible later on today.

Position closed at 1.4655 (profit 61 pips)

ISM Manufacturing PMI positive for USD:

Manufacturing in the US rose very fast in October the data shown today. The result was above the expected and the american currency has pushed the EUR a bit downwards. Current price EUR/USD 1.4767 and I suppose the currency pair could go down to levels of about 1.4600 in a day or two.

Halifax HPI m/m may affect the GBP:

The last release of the Halifax HPI m/m data was on Oct 06 and it was better than the forecast which had a positive affect over the British currency. The forecast for tomorrow 02 November is 0.8%. The data is a leading indicator of the housing industry's health.

How To Predict Forex Prices:

Many people think that forex market prices could be predicted by some scientific theory but that is definitely one of the biggest trading myths. I think that a good trader would always find a better way to find out how the market would move. If the forex markets could be predicted by some specific theory than all traders will be rich and no-one will loose any money. It does not make a sense, does it?

I will recommend that the best way to trade forex markets is to use the economy calender and forex charts. The most important thing for a trader is to analyse the news, not just to read it.

Unemployment continued to rise in Europe:

The unemployment in Europe remains negative. The data was released today and it has been pushing the EUR low to levels of 1.4750-1.4770

It looks like the currency pair EUR/USD may drop down to levels of about 1.4600 during the next week.

EUR/USD 1.4850 is next resistance:

If the currency pair breaks above 1.4850 next target could be at about 1.4950

Unemployment Claims report negative for USD:

Unemployment Claims data dropped to 530K which was below the expectations and it pushed the EUR up with about 40 pips and the European currency is still in uptrend position. Resistance could be seen at 1.4800

Core Durable Goods Orders positive for USD:

The orders rose up to 0.9% which was more than the forecast 0.6%. The release had a positive impact for the American currency vs. EUR.

CB Consumer Confidence negative for EUR:

The price of EUR/USD dropped with about 30 pips right after the data was released. Current price of the currency pair 1.4799

German Consumer Confidence Falls:

It declined for the first time in seven months as workers worried about keeping their jobs. The statement had a negative affect over the EUR.

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Unemployment Claims and Current account to be released today:

The Unemployment Claims and the Current balance will be released today. Both indicators could be in favor to the European currency. Current price EUR/USD 1.4930 and another uptrend movement to 1.5000 is still possible later on today.

EUR/USD may reach price around 1.5100

Current price EUR/USD 1.4975 and the currency pair is in uptrend position.

Fed Chairman Bernanke Speaks on Monday:

His speech usually affects EUR/USD because traders attempt to decipher interest rate clues.

Empire State Manufacturing Index pushed the EUR down:

Empire State Manufacturing Index rose above the forecast and it reached its highest level (34.6) in about five years.

The data was announced today and the price EUR/USD went down with about 28 pips within 20 minutes. The next release of that data will be announced again in the middle of the next month.

TIC Long-Term Purchases was negative for USD:

The TIC Long-Term Purchases data pulled the American currency down a bit with about 15 pips.

EUR/USD in uptrend position:

EUR/USD current price 1.4951 and I expect the currency pair will reach 1.5000 at some point today. Fears of US inflation is putting pressure on the American dollar.

EUR/USD current price 1.4935

The currency pair has risen from 1.4840 up to 1.4935 and I assume that the resistance is located at 1.4940

Claimant Count Change positive for GBP:

The number of people claiming benefits due to unemployment has risen again but the rate of the increase has slowed the data indicated today. The news pushed the British currency to rise from the price of 1.5940 up to 1.6000 (profit of 60 pips) within minutes after the data was released.

EUR/USD is rising:

Current price EUR/USD 1.4883 and the price is expected to rise up to about 1.4950.

EUR/USD today:

Resistance level is located around 1.4800. Current price EUR/USD 1.4779. The currency may rise with some profitable pips today after the release of German ZEW Economic Sentiment data. Above 0.0 indicates optimism and the forecast is 58.6, on the other hand EUR/USD may take downturn to about 1.4750

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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