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Also released yesterday, Personal Income rose 0.5% MoM and Personal Spending rose 0.7% MoM, inline with consensus estimates. The PCE core index, an inflationary measure closely watched by the Federal Reserve, remained unchanged at 2.2% YoY in December, but the MoM 0.1% reading fell short of market s expectations of 0.2%. Despite the importance of the data, no significant price action was detected upon the release, mainly due to the fact that these readings merely confirmed the recent trend suggested by economic indicators ; consumer spending rebounds while core inflation is gearing down. business home internet

The major economic release of the month, the one all market participants are waiting for, is due out at 13:30 GMT today. The Non Farm Payrolls report, which measures the number of new jobs created in the previous month, excluding the farming industry, is expected to come out at 146K after a 167K reading the previous month. It is already several months that the labor market shows signs of recovery, and analysts expect this month to be no different. Although we are expecting a strong figure as well, we see a greater probability for the figure to miss expectations for the downside, printing around 120K-130K. If indeed we see a reading around these figures, and probably even around market consensus, we might see a knee-jerk USD sell-off all across the board. business mlm opportunity

EUR

Euro zone manufacturing PMI fell short of market expectations of 56.2 and came out at 55.5. The German Purchasing Mangers index also failed to meet expectations, and printed 0.5 pts below the 59.0 consensus. The slightly disappointing figures did not manage to weaken the EUR much against the USD, but some weakness has been spotted against other counterparts. That weakness did not last long, as markets were anticipating some more valuable economic data to release from the US. At 10:00GMT this morning the EZ PPI (Producer Price Index) is due out and is widely expected to remain unchanged MoM and to rise 4.1% on a yearly basis. No significant price action is expected before the US NFP release at 13:30 GMT, when EUR direction will be determined in correspondence to the USD value. based business home income

JPY

In a time where Japan s economic indicators provide little support for the woeful JPY, the currency draws its strength from some hawkish comments provided elsewhere. The currency continued strengthening yesterday on the back of comments by the US Treasury Secretary Paulson who once again triggered speculations that Japan could be criticized for their currency s weakness. The USDJPY dropped as low as 120.17 on the back of these speculations, but later rebounded back to 120.70. based business home internet

Today s JPY price action will probably derive from external events as well, as the Japanese markets are already closed for the weekend. A strong US NFP report might send the JPY to down further, while an inline or below expectations report might very well send the JPY higher. business homebased opportunity

01-Nov-2006 = Headlines * A weak Chicago PMI sends the dollar lower * Markets on hold ahead of tomorrow s ECB rate decision Start Trading = Demo Account = SuperMini Account = Pro Account Live Chat based business home mlm

Weekly Trend Up Up Down Down Up No Resistance 1.2830 1.9140 118.92 1.2505 0.7800 0.6735 1.2795 1.9105 118.60 1.2485 0.7778 0.6722 1.2768 1.9080 117.30 1.2468 0.7756 0.6700 Support 1.2700 1.9010 116.85 1.2425 0.7715 0.6668 1.2675 1.8988 116.61 1.2400 0.7680 0.6655 1.2643 1.8965 116.30 1.2388 0.7665 0.6623 = Economic News USD The dollar remained unchanged during the Asian session, after it was sent lower yesterday afternoon in NY, following the disappointing releases of the Chicago Purchase Managers Index and the Consumer Confidence survey, both falling below expectations. First to be released was Consumer Confidence, coming in at 105.4, below the 108 consensus estimates. The survey measures how optimistic the American consumers are, under the assumption that a consumer, more confident about his/her economic situation, will spend more at the stores, thus boosting consumption leading to growth. While the headline figure was disappointing the expectations part of the survey came in better than expected, but before markets even had the chance of assessing the data, the Chicago PMI was released. Given the poor performance of the recently released regional indicators (e.g. Philadelphia Fed survey), the drop in the Chicago PMI was hardly a surprise. Yet, it further reiterates the slowdown the US economy is facing. business new opportunity

Today we are expecting another exciting trading day for the dollar, with several important indicators to be released in the US. First to be released is the ADP Employment Change. ADP, the largest payrolls processing company in the US releases its estimation for the change in the non farm sector of the labor market and it s known for standing in a high correlation with the NFP data. Forecasts for the ADP report are for a 120K change, up from the 78K figure the previous month. We believe these estimates to be rather optimistic, and that s without mentioning that the ADP is usually biased to the upside when compared to the NFP. Still, it usually serves as a good gauge for the direction of the Non Farm Payroll report, so in case an extreme value comes in expect a spike reaction in the USD. business home online

Later on, at 15:00GMT the ISM manufacturing Purchase Managers Index is expected. Forecasts are for a slight change to 53 from the previous 52.9 reading. We have all seen what a weak PMI can make the USD do yesterday, and today s numbers may bring a similar reaction. Nevertheless, we believe the recent dollar sell off was overextended, a move that is unlikely to continue without a correction. While the downtrend is likely to continue, we wouldn t initiate any new dollar short positions just yet, but rather wait for a retracement. best business home opportunity

The next resistance for the pair lies at 1.9080 after getting through the one at 1.9030. The intraday indicators signals for consolidation of the uptrend with high possibility for extension towards the resistance we just mentioned. USD/JPY The pair gave up Monday s gains and remained in an inside range, and sideways trading is favored for the rest of the week. Breaking the 117.35 support will cause a stronger sell-off towards the 116.85 next resistances. It s important to notice that most Oscillators are mixed at the moment. business investment

USD/CHF

The pair is headed toward support levels at 1.2355 after a breakdown of 60 pips yesterday; daily RSI levels are at 40 indicating possible range trading in the next couple of days with an intention to continue the down trend. = The Wild Card CAD/CHF This pair is still sits on major key support levels of 1.0820, technical studies shows RSI at 15 and momentum at 97.6837 where next support level is at 1.0780. Which forms a clear shape of a double bottom with a new low record of the past 16 weeks. business home making money

= Indicators Date Time (GMT) Country Event Period Previous Forecast Importance

22/11/2006 09:30 UK BoE Meeting Minutes Nov ** 22/11/2006 10:00 EUR Industrial New Orders M/M 3.7% -2.4% ** 22/11/2006 10:00 EUR Industrial New Orders Y/Y 14.3% 9.3% ** 22/11/2006 13:30 US Jobless Claims Weekly 308K 310K * 22/11/2006 15:00 UK Uni of Michigan survey Nov 92.3 93.3 ** based business free home

FOREXYARD Daily Forex Analysis =

23-Nov-2006 = Headlines * A USD sell-off on a thin pre-holiday market- Majors are basing at current levels. * Euro Zone current Account and German IFO, 1.2980 is next. Start Trading = Demo Account = SuperMini Account business internet online

USD

The US dollar was mixed against major currencies in thin, narrow range trading with the Japanese markets closed for public holidays. The dollar is consolidating after its sharp falls from yesterday, which had started before any US data was released. Indeed, Initial Jobless Claims rose to 317K, against forecasts for 310K, and the final reading of the University of Michigan Consumer Confidence was downwardly revised to 92.1 against expectations for a 93.1 reading, but we have seen much worse downside surprises not generating such a sell-off. Furthermore, taking into consideration the thin liquidity usually characterizing the days before holidays, the USD sell-off seems, to say the least, a little awkward. best business opportunity

Be that is it may, we believe the jury won t come out with the verdict on the USD at least till Monday, when most US and Japanese investors return from their holiday extended weekend. Till then, the USD pairs might try to base at their current levels. It is possible that we ll see US dollar short positions build when trading picks up, as rate hikes are expected in the Euro-Zone as well as in Japan. However, 1.30 (vs. the EUR) is a rather heavy psychlogical barrier, which has already made the pair reverse 3 times in the past 7 months, and any re-positioning at current levels should be carefully reconsidered. business computer home

Momentum is low at 98.9266 suggesting a possible bullish trend when there will be more liquidity in the market, however RSI at 40 shows no obvious direction and MACD is oversold with a mild rebound on the upside. business idea opportunity

USD/JPY

119.60 has been proven to be a very strong resistance for this pair while 118.22 is a key support level, we can clearly see the slow stochastic forming a mild bullish behavior however lack of volatility from this pair will likely to keep it within this range without a break. USD/CHF This pair is testing the first resistance level at 1.2360 with a rather high momentum at 102.5459 and RSI levels at 70, however slow stochastic and MACD implies that the bullish trend might be over and a mild bearish reversal is on its way. based business home online

= The Wild Card GBP/JPY

This pair has given many forex traders consistent rewarding interest for long positions, we can clearly see that a bullish trend has been formed once more and slow stochastic is now crossing under 20 with a sharp curve up, MACD levels are way oversold and long range diagonal channel has still left much more room for the upside long trend. business federal opportunity

Resistance 1.3097 1.9504 119.56 1.2553 0.7877 0.6742 1.3071 1.9480 119.48 1.2492 0.7856 0.6732 1.3021 1.9432 119.40 1.2461 0.7828 0.6715 Support 1.2945 1.9360 119.24 1.2369 0.7790 0.6688 1.2919 1.9336 119.16 1.2308 0.7758 0.6678 1.2869 1.9288 119.05 1.2277 0.7730 0.6661 = Economic News USD Overnight, the USD strengthened relatively aggressively, as the EUR/USD breached the very important barrier of 1.30, and touched the 1.2950 level. The market is going through three major events this week, starting with the US trade balance for November at 13:30 GMT, following by the ECB rate decision tomorrow, and the US retail sales on Friday. As for the ECB rate decision, it is widely expected to remain unchanged at 3.5%, which will probably cause the market to be relatively quiet for an event of such magnitude. The US trade balance, coming out today is expected be negative as there is a consensus that the US deficit is about to increase to -59.5 billion USD from -58.9 billion last month. As it appears this will probably stop the USD strengthening trend. Although the important barrier of the 1.30 has been broken, many believe that it has not breached violently enough to really indicate the true change in the greenback s trend, and that for at least the next month, it is very possible that we will see the 1.35 target price that the market has been waiting for after the first 1.30 breach occurred. The next 48 hours will be a great indication as to where the USD is going, and will probably be resolved by Friday s US retail sale, where a clear answer will probably be supplied. based business home legitimate

Daily Studies are pretty neutral, but we can t ignore the heavy resistance the pair met each time it got close to 122. On the downside, there is a trendline expected to test near current levels, at 119.70, after that level the next floor will emerge only around 118.70. USD/CHF There is definitely a short term down trend in this pair s charts, but there is also a down sloping trendline defined by February lows, and we are currently directly on top of it at 1.2276. It is therefore seems reasonable that a better opportunity to short this pair will show up in the upcoming days, but longing it is too risky. business home mlm opportunity

= The Wild Card NZD/JPY

There are signs of weakness in this forex pair s uptrend- the daily MACD bearishly diverge during the last three tops. We have a trendline support to test near 84.00, where the 4H 200MA also pass. Short positions before then are considered risky. = Indicators Date Time (GMT) Country Event Period Previous Forecast Importance business home idea internet

27/02/2007 All day event EUR German CPI m/m (p) -0.20% 0.50% ** 27/02/2007 9:00 EUR Euro Zone M3 sa Y/Y 9.20% 9.50% ** 27/02/2007 9:00 EUR German Retail PMI 43.9 * 27/02/2007 13:30 USD Durable Goods Orders M/M 2.9% -2.4% ** 27/02/2007 13:30 USD Core Durable Goods Orders M/M 2.7% -0.2% *** 27/02/2007 15:00 USD Consumer Confidence 110.3 109.0 ** 27/02/2007 15:00 USD Existing Home Sales 6.22M 6.25M ** based business from home

Resistance 1.3300 1.9745 121.70 1.2468 0.79798 0.6812 1.3260 1.9730 121.10 1.2415 0.7969 0.6777 1.3220 1.9680 120.00 1.2380 0.7944 0.6735 Support 1.3150 1.9570 119.70 1.2275 0.7860 0.6670 1.3115 1.9500 119.00 1.2220 0.7811 0.6652 1.3080 1.9460 118.50 1.2170 0.7787 0.6600 = Economic News USD Yesterday, the USD fell dramatically against JPY and EUR during a highly volatile and violent session after the Shanghai stock exchange plunged almost 9%, the biggest drop in 10 years, while European equities were down about 2%. business make money online

Another factor that hurt the Dollar on Tuesday was a report showing an unexpectedly sharp drop in U.S. durable goods orders in January, adding to speculation that the Federal Reserve may cut interest rates later this year. base business home opportunity

Add to this the unsettling talk of more central bank sales of Dollars as they continue to diversify reserves, growing tensions over Iran s nuclear program, surging oil prices - all make it very easy to understand why investors and traders have cut their risk exposure. business magazine opportunity

The global negative pressure shadowed a few positive indicators released yesterday. Existing home sales rose 3.0 pct in January which was the biggest gain in 25 months and followed the mild 0.3 pct increase in December while the consumer confidence index rose to 112.5 in February from a revised 110.2 in January, beating the economist forecast of 108.5. business make money

Today, apart from traders awaiting further developments in equity markets, the busy schedule of data releases will also be in focus. US data will provide new home sales for January, the second estimate of gross domestic product for the fourth quarter, as well as the latest Chicago purchasing managers survey for February. business opportunity weblog

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