The Wizetrade FOREX Blog

Strong USD:

Short     GBP/USD  1.5900
Short     EUR/USD  1.4260*
Short     AUD/USD   .8760*
Short     NZD/USD   .7000***
Long     USD/JPY     91.80
Long     USD/CHF    1.0500


Weak USD:

Short    USD/CAD   1.0550*
Short*   USD/JPY    91.00

USD News – No US News this morning, 08:30 Retail Sales from Canada, NZD and AUD news late afternoon and evening.

 

STRONG

 

Short                GBP/USD                    1.6090

Short                EUR/USD                    1.4260

Long                USD/CHF                    1.0480

Long                USD/CAD                   1.0630-R

Long                USD/JPY                     91.00****      

Short                AUD/USD                   88.00*

Short                NZD/USD                   70.50*

 

WEAK

 

Resist               EUR/USD                    1.4400-R

Support            USD/CHF                    1.0385-S

Short                USD/CAD                   1.0570

Short                USD/JPY                     90.25*            

 

The values in the T-chart data represent the next levels of significant support or resistance with trade opportunities to these levels, or breakouts beyond these levels. The use of Astrid denotes key sustained support or resistance levels, or counter trend opportunities in the market.

Support & Resistance List
Thursday December 17th 2009 Center Center
Currency Pair	Support 1	Support 2	Resist 1	Resist 2	Overnight Trend
GBP/USD	1.6080	1.6000	1.6375	1.6475	Weak
EUR/USD	1.4325	1.4180	1.4400	1.4550	Weak
USD/CHF	1.0430	1.0345	1.0510	1.0540	Strong
USD/JPY	89.40	89.00	90.25	90.40	Flat
USD/CAD	1.0660	1.0600	1.0745	1.0800	Strong
AUD/USD	0.8845	0.8800	0.8950	0.9020	Weak
NZD/USD	0.7100	0.7050	0.7140	0.7200	Weak
EUR/GBP	0.8880	0.8850	0.8920	0.8960	Flat

USD News  - 08:30 Weekly Unemployment Claims, 10:00 Philly Fed Manufacturing Index.

 

Big Moves have already happened overnight, so caution is advised.

 

 

STRONG

 

Short                GBP/USD                    1.6000

Short                 EUR/USD                   1.4180

Long                USD/CAD                   1.0780

 

WEAK

 

                        EUR/USD                    1.4400 - R

 

 

The values in the T-chart data represent the next levels of significant support or resistance with trade opportunities to these levels, or breakouts beyond these levels. The use of Astrid denotes key sustained support or resistance levels, or counter trend opportunities in the market.

 

Support & Resistance List
Wednesday December 16th 2009 Center Center
Currency Pair	Support 1	Support 2	Resist 1	Resist 2	Overnight Trend
GBP/USD	1.6340	1.6240	1.6375	1.6475	Strong
EUR/USD	1.4520	1.4480	1.4585	1.4600	Flat
USD/CHF	1.0370	1.0315	1.0420	1.0450	Flat
USD/JPY	89.40	89.00	90.00	90.40	Flat
USD/CAD	1.0580	1.0550	1.0650	1.0670	Weak
AUD/USD	0.8950	0.8900	0.9040	0.9090	Weak
NZD/USD	0.7150	0.7100	0.7230	0.7260	Weak
EUR/GBP	0.8850	0.8810	0.8930	0.8960	Weak

USD News – 08:30 ET Consumer Price Index, 14:15 ET FOMC Statements and Fed Fund Rate (Interest). The USD Weaker overnight with stronger equity markets.

 

STRONG

 

Short                EUR/USD                    1.4480**

Long                USD/CHF                    1.0430

Long                USD/CAD                   1.0670

Short                AUD/USD                   .8950*

Short                NZD/USD                   .7150

 

 

WEAK

 

Long                GBP/USD                    1.6375*

Long*              EUR/USD                    1.4620

Short                USD/CAD                   1.0550

Long                NZD/USD                   .7230

 

 

The values in the T-chart data represent the next levels of significant support or resistance with trade opportunities to these levels, or breakouts beyond these levels. The use of Astrid denotes key sustained support or resistance levels, or counter trend opportunities in the market.

Support & Resistance List
Tuesday December 15th 2009 Center Center
Currency Pair	Support 1	Support 2	Resist 1	Resist 2	Overnight Trend
GBP/USD	1.6200	1.6165	1.6340	1.6475	Weak
EUR/USD	1.4520	1.4480	1.4615	1.4650	Weak
USD/CHF	1.0315	1.0235	1.0415	1.0450	Strong
USD/JPY	88.40	88.15	89.70	90.00	Strong
USD/CAD	1.0550	1.0500	1.0650	1.0700	Strong
AUD/USD	0.9040	0.9000	0.9100	0.9175	Weak
NZD/USD	0.7185	0.7100	0.7210	0.7300	Weak
EUR/GBP	0.8935	0.8900	0.8980	0.9000	Weak

USD News –  Producer Price, TIC Net Long Term Foreign Investments

 

STRONG

 

Short                GBP/USD                    1.6190             1.6160

Short                EUR/USD                    1.4480*

Long                USD/CHF                    1.0452

Long                USD/CAD                   1.0670*

Short                NZD/USD                   .7200***

Short                AUD/USD                   .9000***

 

WEAK

 

Long                NZD/USD                   .7330

Long                AUD/USD                   .9130

 

 

The values in the T-chart data represent the next levels of significant support or resistance with trade opportunities to these levels, or breakouts beyond these levels. The use of Astrid denotes key sustained support or resistance levels, or counter trend opportunities in the market.

 

USD News – None

 

STRONG

 

Short                GBP/USD                    1.6170

Short                EUR/USD                    1.4600

Long                USD/CHF                    1.0370

Long                USD/CAD                   1.0670*

 

WEAK

 

Long                GBP/USD                    1.6340

                        EUR/USD                    1.4700 – R

                        USD/CHF                    1.0300 - S

 

The values in the T-chart data represent the next levels of significant support or resistance with trade opportunities to these levels, or breakouts beyond these levels. The use of Astrid denotes key sustained support or resistance levels, or counter trend opportunities in the market.

Getting ready for next week in Forex

12/13 to 12/19/2009

 

 

USD

 

Next week starts out quiet for data from the US.  Sunday and Monday, no significant news.

 

Tuesday gives us the Producer Price Index, inflation measure at production level.  We are watching to see if inflation starts to creep in.  PPI, CPI, Cost of foreign goods, wage inflation and other indications that cost are rising.  So far not much, but we do see some creeping.

 

Also on Tuesday, Empire State Manufacturing Index is expected to improve in the report from the N.Y. Fed district.  Market views as indicator of growth and strength or the lack there of…

 

TIC Long-Term Purchases give us a glimpse at foreign investment into the US vs. US investment abroad.  The terrific exchange value of a weak USD has made foreign purchases popular in the S&P.  Capacity utilization is expected to improve as we ramp up industry to fill demand, and Industrial Production is forecast to improve.

 

Wednesday brings us news early in the US session and late.  Early we look at inflation for the consumer and building permits, later will provide us the Federal reserves overnight lending rate and more importantly the statement that may indicate direction and timeframe for changing (raising) rates in the future. Look for the possibility that an exit from stimulus will be talked about.

Thursday brings weekly employment claims and the Philly Fed Manufacturing Index and then the calendar goes quiet for the week.

 

AUD

 

Monday has Monetary Policy Meeting Minutes and Tuesday has the QUARTERLY GDP.  I capped this because quarterly reports can throw more weight than monthly.

 

CAD

 

Tuesday provides quarterly labor productivity, more for less money is deflationary, less for more money is inflationary.  Thursday reports consumer inflation with the CPI numbers.

 

CHF

 

Monday PPI, Tuesday Quarterly Industrial Production & Chairman Roth speaks, and finally Thursday has the ZEW Economic Expectations.

 

EUR

 

Busy Calendar, focus on Monday Industrial Production, Tuesday German ZEW Economic Sentiment, Wednesday German PMI (are the ramping up to meet a higher demand in the big economy?) and EUR Core CPI and on Friday German Ifo Business Climate.

 

GBP

 

Tuesday Consumer Price, Wednesday employment claims and Thursday Retail Sales and CBI Realized Sales.

 

JPY

 

I know we tend to brush over news from Japan but the Tankan Manufacturing Index which is released quarterly could provide signs that the Japanese Economy is suffering less, which the equity markets may like.  On Thursday, Interest rates expected to remain unchanged.

 

NZD

 

After keeping rates at 2.5%, the NZD only has Business confidence to work with on Wednesday.