EUR/USD daily outlook:

Current price of the pair 1.4488. The resistance was located around 1.4450 and since the pair has broke up this level now I'm expecting that it may go up to the price of 1.4600 in a couple of hours. The US Trade Balance will be published today at 1:30 pm GMT and it looks like the results may be positive for the American currency and if it does come true, we may see a short downtrend movement for the EUR.

Support and resistance levels EUR/USD:

These are the hourly support and resistance levels:

Hourly       S  1.4480    S 1.4487     S 1.4500     R 1.4515     R 1.4520     R 1.4531   

GBP/USD daily forecast:

Current price 1.6113, the pair remains in uptrend position another rise towards the price of 1.6200 could be seen later on today.

EUR/USD daily forecast:

The currency pair looks like it will remain in downtrend position in the next a couple of hours. Current price 1.4499. The resistance level should be located around 1.4530-14.4550. If the pair breaks above this level we may see another rise towards the zone of 1.4600 later on today or tomorrow. The today's economic calendar does not have any major factors which could have a strong affect over EUR/USD.

GBP/USD daily forecast:

The currency pair remains in downtrend position. We can assume that the possible target is located at about 1.5920-1.5910. If the PPI Input m/m data is positive for the GBP, we may see some momentum movement in favor of the British currency. The data is released today at 9:30am GMT.

EUR/USD daily forecast:

Current price 1.4328. The currency pair remains in downtrend position according to the technical indicators. It looks like if EUR/USD breaks below 1.4250 we may see another fall towards 1.4150-1.4160

Non-Farm Employment Change will be released today:

Job creation is an important leading indicator of consumer spending. The forecast is -3K. The data will be released today at 1:30pm GMT. 

Halifax HPI m/m data to be released today:

The Halifax HPI m/m will be released today at 9am GMT. Despite the fact that news look positive for the British currency, at the present time according to the market situation we may see another short fall of the GBP towards 1.5930-1.5900

EUR/USD support and resistance levels:

These are the hourly support and resistance levels:

Hourly      S 1.4315    S 1.4333    S 1.4355    P 1.4370    R 1.4380    R 1.4400    R 1.4420

German Retail Sales m/m data negative for EUR:

The German Retail Sales m/m data was just released minutes ago. The forecast was expected to be 0.4%.
However, the actual result is -1.1% which I assume is going to affect the European currency in a negative direction for a while towards 1.4340-1.4330.

EUR/USD daily forecast:

The pair looks like it remains in downtrend position at the present time. Current price 1.4364. I expect another fall towards the zone of 1.4300-1.4290 after consolidation.

USD/CHF daily outlook:

Current price 1.0357. The currency pair remains in downtrend position and another fall towards levels of 1.0250-1.0260 mat be seen later on today.

ADP Non-Farm Employment Change to be reelased today:

Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity. The forecast is -74K. It seems that the job losses may have decreased in December. The data will be released today at 1:15pm GMT.

EUR/USD daily outlook:

Current price of the pair 1.4331 and it looks like EUR/USD is in downtrend position. If the currency pair breaks above the price of 1.4400 another rise towards 1.4500 may be reached in a couple of days. On the other hand the pair could go down to about 1.4250-1.4300 later on today.

USD/JPY daily outlook:

Current price 91.74 and it seems that the currency pair is in uptrend position. If the pair keeps levels of 91.80-91.90 we may see another rise up to about 92.50-92.70 later on today. On the other hand if the pair breaks below 91.30-91.10 next target will be 89.50-89.60

Pending Home Sales m/m to be released today:

It's a leading indicator of economic health because the sale of a home triggers a wide-reaching ripple effect. It will be published today at 3pm GMT. The forecast this time is -2.3% which if it comes true could be negative for the American currency. I assume that we may even see another rise of EUR/USD up to levels of about 1.4550-1.4560 later on today. Current price 1.4478

EUR/USD before the Asian session:

Current price of the pair 1.4422 which is the pivot point at the present time. The Asian session is opening in about 30 minutes and we may see some downtrend movement and will probably test another fall to 1.4350.

GBP/USD daily outlook:

The combination of candlesticks has formed “evening star” on daily chart which is the signal to downward movement. Current price of the pair 1.6077. The Manufactoring PMI today at 9:30 GMT. It is expected to go up to 52.1 points this time which will indicates industry expansion and it may be positive for the British currency.

EUR/USD daily outlook:

Current price of the pair 1.4287 and it looks like it remains in downtrend position. If we reach levels of about 1.4400-1.4420 a rise towards 1.4800 could be possible.

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Nation HPI to be released today:

British house prices have risen in the past 7 months, but the pace has slowed below 1% in the past three months. After a 0.5% rise last time, it’s expected to rise by 0.4% this time. This will push the British currency. The data will be released on Thursday at 7:00am GMT

USD may continue to decline:

Dollar may continue its decline against major currencies because of the demand for high-yield currencies for investment.

Chicago PMI to be released today:

The forecast is 55.2 and it comes true it may strongly affect the American currency in a positive direction. The data is scheduled to be released at 2:45pm GMT.

EUR/USD daily's outlook:

It looks like EUR/USD may fall towards 1.4250 in a couple of days. If the currency pair rise above the resistance level which is located at about 1.4400-1.4420 than another rise towards 1.4500 could be seen. Current price EUR/USD 1.4335

UBS Consumption Indicator was positive for CHF:

The UBS of consumer spending in November rose by 1.280 points to 0.867. The news is positive impact of the Alpine currency.

EUR/USD hourly support and resistance levels:

Hourly: S 1.4355 S 1.4359 S 1.4366 P 1.4370 R 1.4377 R 1.4381 R 1.4388

CB Consumer Confidence to be released today:

Today, the Conference Board will release its consumer confidence index, one of the few economic indicators scheduled for the holiday-shortened week. Economists surveyed by MarketWatch are forecasting an increase in the index to 54 in December from 49.5 in November. If the forecast comes true we may see some positive movement for the American currency against EUR.

EUR/USD today's outlook:

Current price of the pair 1.4387 and we may see a rise towards in a couple of days. Signals are expected to remain upwards, but we will look for a movement above 1.4400 to confirm the upward trend continuation. Not much economic indicators to be watched today regarding EUR/USD which will probably move the pair slowly in either direction.

Forex Trading Tips: When to trade EUR/USD:

This is just advice:

The best time to trade EUR/USD pair is during London and New York sessions (8 am to 10 pm GMT).
The most active hours are 13 pm to 17 pm GMT, when two sessions overlap.

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Spending, Home Sales Probably Climbed: U.S. Economy Preview:

American consumers probably earned and spent more in November, giving retailers and real-estate agents reason to anticipate business will improve in 2010, economists said before reports this week.

Household purchases rose 0.7 percent for a second month and incomes climbed 0.5 percent, the most since May, according to the median estimate of 60 economists surveyed by Bloomberg News before a Commerce Department report Dec. 23. Combined sales of new and existing homes last month may have reached the highest level since May 2007, other figures may show.

Read more:

Posted by bloomberg.com

Unemployment Claims to be released today:

The US Unemployment Claims data will be released today. The forecast is expected to be 471K which would be positive for the American currency. Current price of EUR/USD 1.4361 and with the approach of Christmas and New Year holidays, will see reduced activity of traders. In these conditions it is possible to form a sharp movement in both directions, which lead to the formation of speculation.

EUR/USD daily outlook:

Bearish downtrend remains strong. Markets will be at their thinnest during the US trading session. Looking for bearish signals around 1.4330 with targets at 1.4300, 1.4275, 1.4245 and 1.4220.

EUR/USD Report:

As we head into this trading week, the trend is still down, but appears to be waning slightly.

Near-term support is at 1.4300. A drop below is likely to test former lows at 1.4260, but 1.4250 is also likely to act as support. A break below 1.4250 indicates a move to 1.4150. There is interim support in the area of 1.4200 and 1.4175.

EUR/USD overlook before closing the market:

EUR/USD has been testing the 3 month bottom line of about 1.4300 but it looks like it may soon be over and levels of about 1.5000 could be reached again.

Forex Trading Tips: My trading plan (example)

I never trade when I am tired, upset or rushed. I check the markets when I get home from work. I set up signals just before I go to bed. When an alert sounds I check the market and place my trades based on entry signals. I never anticipate what the market will do I trade only with signals. I always trade with a stop loss. I check the market when I get out of bed.I always trade in the direction of the trend on the 4-hour chart. I enter the market on the time frame that is easiest to read. I always use signals to enter and exit a trade. I always make my own decisions to enter/exit a trade. I always start a trade with one lot.I only add to a trade when there are signals. I never trade with more than 10% of my trading account. I record my trades in my trading journal. I accept losses and move on to the next trade.(Losing is part of trading) I take responsibility for my successes and failures in the market.(I do not blame others)

USD/JPY daily analysis:

USD/JPY remains in uptrend from 87.37. Further rally is still in favor and next target would be at 90.76.

Unemployment Claims to be released today:

The Unemployment Claims data will be released today. In case that applications for unemployment benefits show unexpected increase is likely the dollar's rally to be stopped.

Current price EUR/USD 1.4403

EUR/USD daily analysis:

Current price of the pair 1.4526. Deeper decline is still possible after a minor consolidation and next target would be at 1.4400-1.4450 area.

EUR/USD support and resistance levels:

Support and resistance levels based on a 4 hour chart:

EUR/USD S 1.4499 S 1.4512 S 1.4522 P 1.4535 R 1.4545 R 1.4558 R 1.4568

EUR/USD remains in downtrend:

As long as 1.4770 resistance holds, we’d expected another fall towards 1.4550 area. However, above 1.4781 will indicate that another rise towards 1.4800 may be seen at some point these week.

Industrial Production data to be published today:

The all-European industrial production is published after the Germany and France publish their figures. But since we’ve witnessed the big differences between the member states, and previous surprises, this figure’s release is important. After two months of growth, last month’s 0.3% rise is expected to be followed by a dip of 0.6%. Published on Monday at 10:00 GMT.