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The MACD provided a buy signal on the 4H chart yesterday and now we see a contraction of the Bollinger bands. It could mean another breakout is looming - we suggest being aware of the upside potential. USD/JPY With all intraday indicators neutral and a 3 month high posing as a resistance, looks like we care heading into a day of consolidation. Look for more tests of the highs near 120.50 but for now, we don t see any room for extension. business home internet

USD/CHF

The pair looks stable at current levels of 1.2144 but risk is toward the downside as opposed to other USD based currencies. Intraday indicators are neutral and volatility is low. Stay on the sidelines here. = The Wild Card CAD/CHF The pair is still close to its local high near 1.1100, trading near 1.1065 now. Forex traders will look for buying opportunities due to the RSI facing upwards and this despite the slight RSI divergence between the preceding high and now. Still, the market seems ripe for another high. business mlm opportunity

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

05/16/07 7:45 EUR French Non-Farm Payrolls q/q 0.2% 0.3% * 05/16/07 9:30 GBP Claimant Count Change m/m -9.2k -5.5k * 05/16/07 9:30 GBP Avg Earning q/y 4.6% 4.8% * 05/16/07 9:30 GBP Unemployment Rate m/m 4.6% 4.8% *** 05/16/07 10:00 EUR EURO CPI m/m 0.7% 0.5% **** 05/16/07 10:30 GBP BOE Inflation Report **** based business home income

1.3608 1.9870 121.64 1.2284 0.8350 0.6895 1.3557 1.9837 121.35 1.2248 0.8277 0.6865 Support 1.3480 1.9750 120.17 1.2204 0.8240 0.6824 1.3420 1.9700 119.38 1.2169 0.8189 0.6800 1.3365 1.9456 118.44 1.2123 0.8154 0.6780 = Economic News USD Yesterday was a very quiet day for the majors with tight ranges seen during the local session. The USD was softer in our morning session which allowed to push back up to the overnight highs around 1.3608 on the EUR/USD. USD/JPY was quiet despite upward revisions to March IP data. Broad USD strength was seen in offshore trading as US data posted strong results. However, the greenback remains firmer across the board heading into today s session, with traders turning to US economic reports. The data which include: the weekly jobless claims, April leading indicators and the May Philadelphia Fed survey will be the main attractions today. Jobless claims are seen edging higher to 310k from the week before, 297k, while the April leading indicators are expected to give back last month s 0.1% increase, falling by 0.1%. Lastly, the Philadelphia Fed survey is forecasted to improve to a 3.0 reading, up considerably from the previous 0.2. Yesterday s US industrial production was up 0.7% in Apr, continuing the run of orders, survey, and output data suggesting the factory sector is experiencing a revival heading into the second quarter. The output bottom line was boosted by a partial bounce in utilities and the third consecutive monthly rise in auto production. Business equipment output rose a solid 0.9% for the second month running. Also, US housing starts were up 2.5%, but permits down 8.9%, in Apr. Following the weaker NAHB builder sentiment survey, it seems that the home construction sector is not out of the woods yet. That said, the plunge in permits does correct for the fact that permits right through the first quarter were running ahead of starts; actually it is a synonym phrase which won t automatically follow and the upcoming reaction could be a sharply crashing in the coming months. This is occurring since there is still a backlog of permits from Q1 that could yet lead to new starts later in Q2. But we would need to see at least a partial bounce in permits in the May data to be confident that a renewed collapse in housing activity is not about to emerge. Bottom line the USD expected to strengthen in the upcoming days. based business home internet

EUR

It seems that the EUR fell a victim to USD strengthening in the last days Despite the fact that officials from the European Central Bank continued to stress their hawkishness, the EUR almost erased all of its gains against the USD from last month . The move did not come until the US session as the upside surprises to Eurozone data kept the EUR hovering around 1.36 until the open of the US session. The data indicated that French wage growth accelerated in the first quarter along with non-farm payrolls. Eurozone CPI remained unchanged at 1.9 %, which was slightly stronger than market expectations. The ECB is set to release their monthly report tomorrow and we expect the details to contain the same hawkish tone. Growth and inflation data give us no reason to question whether the ECB will follow through with their plans to raise interest rates next month. Yesterday s EUR CPI for April was revised up to 0.6% from the 0.7% flash estimate, back where it was in March. UK unemployment fell 16k in April on the benefit claimant measure. However the broader household survey, which also captures those looking for work but who don t qualify for the dole, such as recent immigrants, rose 13k in the three months to March. The same survey also showed employment falling in Q1, by 55k. Given these developments, the relatively subdued 3.7% y/y growth rate for core earnings is no surprise. The Bank of England quarterly inflation report showed that the Bank s central projection has inflation falling below 2% next year, then rising back to 2% on a two year view, assuming the market s view on BoE policy. That view incorporated about one further 0.25% rate rise which is expected at some point later this year, which of course could strengthen the GBP against the majors and also repercussions would be felt on the EUR. business homebased opportunity

In addition, yesterday The Bank of England decided also to keep interest key rates on hold at a six-year high of 5.75%. The reason for making this act is derived from the same concern which occupies the ECB, and mainly in order waits to see how a global credit crisis will affect the U.K. economy in the mid-term. Speculation that the monetary policy authority would cut interest rates had previously left the currency lower, but the BOE s inaction gave hope that rates would remain stable through coming announcements. based business home mlm

Although there is no news expected today from European markets, today is expected to be quite a volatile day for the EUR as traders attention will be focused on the U.S Nonfarm Employment Change news. business new opportunity

= Technical News EUR/USD

The pair is now floating around 1.4120 which is the 61.8% Fibonacci. A break beyond the level of 1.4150 will continue bullish move to the next level of 1.4250. If the pair will be shy of the break than a correction move will be imminent. GBP/USD The pair is in the midst of a correction move to the 2.0400 zone, after peaking at a record level of 2.0380. If the pair will break through the 2.0300 support level, than the correction move might be deeper. The 4 Hour chart indicates an moderate upwards momentum and once the overbought situation will unwind, the pair will probably continue. business home online

USD/JPY

The negative momentum continues for the second day, as the pair is floating at the 116.50 level. The daily chart has no trend while the 4 Hour chart is showing a moderate bullish trend. USD/CHF After several attempts to break through the very important support level of 1.1700, the pair was a bit shy of that move and is now consolidating around 1.17 level. The ongoing momentum is down, as traders should pay close attention to the 1.1730 level, as if it is breached than a much deeper move would be imminent. best business home opportunity

Weekly Trend Down Down Up Up Up Down Resistance 1.4265 2.0520 118.30 1.1890 0.9130 0.7026 1.4230 2.0480 118.00 1.1850 0.9080 0.7000 1.4200 2.0450 117.50 1.1800 0.9050 0.6971 Support 1.4150 2.0360 116.80 1.1750 0.8980 0.6900 1.4100 2.0300 116.50 1.1700 0.8950 0.6870 1.4070 2.0243 116.00 1.1680 0.8910 0.6840 = Economic News USD Last week s much anticipated U.S Jobs Report didn t bring much relief for the greenback. The USD rose sharply on last Friday, after the Nonfarm Payrolls data showed September U.S. jobs growth of 110K. However, the initially strong rally of better-than-forecasted NFP figures turned into a similarly sharp sell-off for the USD. Since then, the greenback has stabilized and has been trading around the 1.41 level against the EUR. Last Friday s Average Hourly Earnings index released at 0.4% beating expectations of 0.3%. In fact, the latest string of the better-then-expected U.S data is reducing the probability of further possible Federal Reserve interest rate cuts. Now speculators forecast that the Fed will only cut rates by 25 basis points throughout December. business investment

Also on Friday, the Canadian Unemployment Rate released at the lowest rate in 33 years. The Canadian Employment Change index released at 51.1K beating expectations of 16.5K. As a result, the USD has tumbled to a record low against the CAD, falling 1.5% to the 0.9816 level, the biggest drop in 3 years. business home making money

Today the U.S financial markets will be closed due to Columbus Day. Low liquidity is expected during the New York session and the USD should continue to range trade at its low levels. During the rest of the week, there is no real market moving news expected from the U.S markets except on Friday, where the US Retail Sales along with the Consumer s Sentiment are due to be released. Looking forward this month, the focus in the market has shifted to an upcoming meeting of finance ministers and central bankers from the Group of Seven rich nations and a Fed policy meeting at the end of the month. As a whole no ground breaking movements are expected to happen this week. based business free home

EUR

Last Friday s relatively strong U.S Nonfarm Payrolls data sent the EUR substantively lower against the USD, hitting fresh multi-week low of $1.4032. It didn t take much time for the pair to snap back to earlier levels, indicating the resilience of the EUR as it remained robust throughout the most important news releases of the month. Today, due to the fact the US and Japanese markets are closed, most of the movement will probably emanate from the small amount of news that is expected from Europe. business internet online

The European morning will start with ECB President Trichet s speech at the breakfast meeting organized by the European Policy Centre, in Brussels. Trichet will mostly discuss future considerations of an interest rate adjustment. best business opportunity

The following releases are expected to come out of the UK today, kicking off with the UK PPI Output and Input figures. The PPI Input is expected to be released at 1.4% which is much higher than last month s -0.5%. The UK PPI Output is also expected to come a bit higher than last month on 0.2% and a previous figure of 0.1%. The second release will be the UK Industrial Production which is expected to rise from a negative territory of -0.1% to positive levels of 0.3%. business computer home

Other than that it appears that today will be relatively quiet and the entire trading day is expected to be characterized by low liquidity all across the board. JPY Last week, the JPY was the only major currency to decline against the USD almost on a daily basis. On Friday the USD rose 0.3%, to a fresh record high of 116.85 vs. the JPY, making it the biggest weekly loss against the USD in more than a year. The Japanese currency has also fallen for the 4th straight week vs. the EUR, losing 0.9% to 165.40. Since the end of the previous week, the JPY continued to lose ground as investors increased Carry Trades under the notion that Asian equities will follow U.S. stocks higher. Currently the JPY is trading around the 117.00 level against the USD and 165.50 against the EUR. Today will be quite a thin trading session for the JPY as there is no news expected from Japanese markets. Later this week, the JPY Interest Rate Announcement will be closely watched, although no change in rate is expected. Therefore, most price movement on the JPY pegged currencies will be derived mainly from European and American markets. business idea opportunity

= Technical News EUR/USD

The pair is in stable consolidation around 1.4120 and as the Bollinger bands are getting tighter the next move is getting closer. There is a bearish cross forming on the 4 Hour chart, indicating that the next break will probably be bearish. The daily charts are quite neutral, as traders should look for entry point on the hourly level. based business home online

GBP/USD

The cable is in the midst of a moderate uptrend which seems to be in a halt. The hourly charts are giving no distinct signals, and the dailies are floating on neutral ground. It would be preferable to stay out for the moment and wait for a clear signal on the 4 Hour chart be fore placing an order. USD/JPY There is a solid channel forming on the 4 Hour chart as the pair now floats on the bottom barrier. The slow stochastic and RSI are showing that the bullish momentum is still strong, and that the next target price might be 117.80. business federal opportunity

Risks associated with trading margined foreign exchange include, but are not necessarily limited to the following: Market RiskRisk associated with the price movement of the currency pair traded resulting primarily from a change in economic and/or political conditions. Liquidity RiskRisk resulting from decreased liquidity of a currency pair usually due to unanticipated changes in economic and/or political conditions. Decreases in liquidity can result in Fast Market conditions where the price of a currency pair moves sharply higher or lower or in a volatile up/down pattern without trading in an ordinary step-like fashion. Although there may be instances when the market enters a Fast Market situation, it is important to note that under all circumstances. based business home legitimate

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Accuracy of Information The content on this website is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. FOREXYARD has taken reasonable measures to ensure the accuracy of the information on the website, however, does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website. business magazine opportunity

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