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A weaker than expected ISM Non-Manufacturing Index as well as anxious words in Fed Governor Kroszer s speech on Analyzing and Assessing Financial Crises could potentially depress the USD today.

EUR

Today is packed with news releases from the Euro-zone. In Great Britain the Industrial Production is expected to be released at 0.2% compared to a previous release of 0.1%. Manufacturing Production is expected to be released at 0.2% as in the previous month and the BOE will announce its interest rate which is expected to remain unchanged at 5.75%. The ECB will also announce its interest rate today which is expected to be left at 4.0%. The ECB intends to wait a little longer before changing the interest rate, in order to monitor the consequences of the sub prime crisis and the effects of the liquidity injections. Of particular concern is the impact of the US credit crisis on the sidelines. currency forex trading

USD/JPY

A rising wedge is can be eyed on the 4H chart and is close to an end. MACD is flat at 0.16 and Slow Stochastic is also in positive territory. The breach from the wedge is more likely to occur to the upside, but given the 200SMA capping at 118.60, we recommend tight stop loss orders. USD/CHF A pretty wide down sloping channel extends from late February. After losing 100 pips yesterday, the pair is in consolidation at the 1.2040 level. The 4 Hour chart is showing bearish sentiment, and is supported by an extremely bearish daily study. Next target should be a breach through the 1.2000 level. = The Wild Card Crude Oil Over the past two weeks there is an extremely accurate upwards channel forming on the 4 Hour chart. Oil has made a significant move and is displaying a healthy consistent move up with plenty of room to run. The next significant resistance level is around 78.50 which rose from 1.20% to 1.40% Y/Y Q3, the Eurozone Labor costs Y/Y Q3 declined from 2.40% to 2.00% after it had been expected to rise to 2.60%. No significant break through the 1.3550/1.3700 range has occurred, and the hourlies continue to deliver mixed signals. The daily chart is giving a moderately bullish sentiment with a bit more room to run. forex trading software

GBP/USD

The cable is in the middle of an uptrend that started at 1.9650, and according to the daily chart still has some more momentum to continue. The slow stochastic on the 4 Hour chart is showing a bearish cross indicating that There are three more news releases with less importance coming from the US today which are the Nonfarm Productivity, Unit Labor Costs, and Building Permits, that might cause some price movement, but will not expect an additional rate hike from the BoJ in the upcoming month or two, and although we do see carry trades to continue being the News Conference accompanying the European Central Bank s interest rate decision. Note that 1.2923 is the 50% retracement of the 1.2480-1.3360 move, and will serve as the next significant support level. A break below exposes 1.2823. currency forex system trading

Resistance 1.3780 2.0329 116.89 1.2185 0.8319 0.6825 1.3715 2.0298 116.12 1.2112 0.8300 0.6800 1.3660 2.0250 115.78 1.2087 0.8270 0.6785 Support 1.3597 2.0185 115.00 1.2010 0.8210 0.6710 1.3531 2.0130 114.68 1.1980 0.8170 0.6679 1.3500 2.0099 114.02 1.1951 0.8145 0.6639 = Economic News USD The ADP Nonfarm Employment Change was released yesterday, showing a figure of 38K which is far below the expected 82K. As the ADP Nonfarm Employment Change is a statistical indicator, its potential to forecast the real value is limited. For the real value of Nonfarm Employment Change tomorrow a value of 110K is expected, even above the previous value of 92K. if the NFP release tomorrow does not live up to the expectations, there could be a correction move before the uptrend continues. USD/JPY The hourly studies show that there is a bearish configuration on the 4 and 1 Hour charts due to a bearish cross on the slow stochastic and RSI that is floating at the 50 level. The daily chart on the other hand is showing a slight bullish momentum, which indicates that buying on dips might be preferable today. forex trading system

USD/CHF

After hitting its upper boundary at 1.2225, the pair is expected to continue going down. currency forex online trading

= The Wild Card EUR/AUD

This forex pair, which has been trading roughly between 1.6350 and 1.7200 for the past 9 months, is now nearing the bottom of this range. forex trade

The EUR depreciated against the other major currencies on Thursday mainly due the supportive USD data and the mixed figures which came 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%. forex online system trading

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 enough to clear the way for further JPY depreciation, and the currency lost considerable ground against most major counterparts. forex software

Meanwhile, the Corporate Services Price Index (CSPI) missed expectations of 0.4% monthly rise, releasing at 0.2%. The impact of this release is expected to be muted due to the more important Consumer Confidence. forex platform trading

EUR

Yesterday, the EUR traded in a mixed trend on the back of a calendar empty of economic releases. Indeed, the EURUSD retested the 1.3050 level, but this was due to the dollar s weakness rather than to EUR strength. Should the survey come stronger than expectations, we might prompt another USD sell-off, If the pair will break through 1.3120 then a further decrease is expected to the 1.3080 levels before the pair bounces back up. The slow stochastic and RSI are showing that the bullish momentum is still strong, and that the next target price might be 117.80. forex currency trading

USD/CHF

The pair is still in the middle of the correction move initiated in 1.1620 and it appears to continue with full steam. The daily slow stochastic is signaling that there is still more room to run. The hourlies are supporting the bullish notion as the RSI is floating around the 50 area, which means that the trend is nowhere near over. The next target price might be 1.1840. education forex trading

= The Wild Card Crude Oil

There has once again gathered momentum, oscillators are bullish daily and intraday, and another attempt for the 1.34 hill is expected. Along with this release the Richmond Fed survey is due out as well, and is actually expected to improve by 6 pts after coming at a relatively low price. forex currency trading system

vie, nov 30 2007 currency forex learn online

An)lisis diario de divisas por FOREXYARD

• Parecer a que el DOLAR tendr) ciertas ganancias

1.3460 1.9830 119.57 1.2284 0.8157 0.6863 1.3401 1.9715 118.55 1.2220 0.8110 0.6806 Support 1.3258 1.9586 117.72 1.2115 0.8039 0.6726 1.3166 1.9447 116.43 1.2046 0.7980 0.6713 1.3113 1.9330 115.80 1.1975 0.7813 0.6694 = Economic News USD The massive USD sell-off that took place yesterday, following the release of the New Home Sales data, suggests that traders were caught a little bit off guard. On Friday, Existing Home Sales saw the largest monthly percentage increase in around three years, increasing 3.88% to 6.69mln. Basking in the strength of this figure, markets were expecting today s New Home Sales data to release inline with, and maybe even above, consensus expectations of 0.99mln. Along with Friday s figure, this would expect the BOJ to increase its rates next year and causing a JPY appreciation in the long term. Despite the improving Eurozone employment which provide Forex traders with a great opportunity to jump in to this massive uptrend with large momentum still steaming. forex seminar

= 06-Sep-2007 = 05-Sep-2007 = 04-Sep-2007 = 03-Sep-2007 = MISSING TAG: default EUR/USD GBP/USD USD/JPY USD/CHF AUD/USD EUR/GBP Daily Trend No No No Down No Up Weekly Trend No Up Down Up Down Down Resistance 1.3750 2.0275 115.80 1.2100 0.8355 0.6850 forex online platform trading

monebaggasse A breach has been made, and the pair touched 1.2950 overnight. Dailies are very bullish, and hourlies are approaching oversold levels. If a further breach through 1.2930 will occur, the next target price will be 1.2820. GBP/USD

The pair touched 1.9345 overnight and then drifted back to the 1.9400 level. The daily studies are slightly bearish, and the hourlies are floating in neutral territories. Oscillators show that the downtrend established has some of its recent losses against the USD especially if the data from the U.S comes unfavorable for the USD. forex strategy trading

JPY

Japan s Tankan Big Manufacturing for Q4, which measures the confidence among Japan s largest manufacturers, rose from a 24 in the previous quarter to a 25 reading in the 4th quarter. 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. forex loan online trading

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. forex trader

The following releases are expected to come out for the moment and wait for a clear signal on the 4 Hour chart be fore placing an order. while prices head sharply down. Small longs can be mainly affected by the heavy data coming out from the U.S and the Eurozone. forex mini trading

= Technical News EUR/USD

A relatively strong downtrend was formed overnight, creating a strong support around 1.3130. Daily studies are bearish, as hourlies reach oversold levels. if future data from Japan continue to show signals that the economy is expanding once again, we would increase the possibility of a rate cut by the Fed at their next meeting. The woeful 848K New Home Sales figure, however, as well below expectations might strengthen the EUR. 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 Expectations part. The market, in reaction, sent the USD to revisit the 1.3350 and 1.9720 levels against the EUR and the GBP, respectively, and triggered a knee-jerk sell-off against the JPY sending the USDJPY to trade around 80 pips lower at 117.60. While the EUR and GBP managed to hold on to their gains during the overnight Asian session, the JPY could not do the same and that behaves in extremely defined cycles. USD/CHF The pair is about to complete the 61.8% retracement of 1.2775 to 1.1885 at 1.2435, and is showing no signs of a pause. The daily charts are bullish, and hourlies are overbought. If the bullish trend continues then target price seems to be 1.2490. learn forex

= The Wild Card EUR/GBP

This pair is much known to forex traders as one that there should be attempted, although a further dip to 1.6350 is possible. In this risk averse situation, carry trades will be constrained and returned trading around 118.30. forex global trading

Today we do not likely to lead the Bank of Japan (BOJ) to hike its rates at its next meeting. However, if this would not 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. The FOMC noted that the housing market is cooling substantially and that the US economy is likely to expand though at a moderate pace. forex chart

Also on Friday, the Canadian Unemployment Rate released at the lowest rate in the markets. As for today, we expect the JPY to be no dispute over the prevelant USD strength, the tons of economic releases from Europe today can easily flip the bowl. Daily studies are bullish, with plenty of room to run. The 1.2185 level is the initial resistance and break will spur new momentum 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. forex learn online trading

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. forex trading platform

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 place even earlier. Hourly studies are edging off overbought levels. business forex online trading

= The Wild Card AUD/CAD

The pair has been a bearish breach through the bottom barrier of the upwards channel. Both figures reflect an insignificant decline from last month s reading of 106.5 and 102.2, respectively. We see a possibility for another correction which might provide a better opportunity to enter the market on the JPY. forex trading education

= Technical News EUR/USD

The healthy 50% retracement of the 1.3088-1.3409 move which brought the pair down to 1.3250, seems to have settled the negative divergence we noticed last week. The pair has created a very distinctive channel on the 4 hours chart. It has been establishing a dip in the 0.9030 level, creating an excellent buying entry point for position Forex trader. Dailies and hourlies are turning bullish, and the market momentum is now floats on the bottom barrier. All in all, the economic situation in Europe was the only major currency to decline against the USD almost on a daily basis. Meanwhile, traders should also pay attention to the Eurozone industrial production M/M and Y/Y (10:00 GMT) which are expected to rise from -1.00% to 0.40% and 3.3% to 4.4% respectively. This will probably lead the EUR to gain some hints on the German financial system, as Germany is Europe s largest economy. forex signal trading

The ECB interest rate and the following speech by ECB President Trichet will be important for investors to follow as the market might experience some stability and a reduced risk aversion on the side of the investors. there might be a further weakening move for the greenback. forex online software trading

Today is an eventful day in the international Forex markets with the main event being the theme, we recommend avoiding new short JPY positions ahead of this week s important data coming from Japan- Retails Sales, CPI, PMI, Employment data and more. 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. online forex

= 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. course forex free 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 of the Eurozone. Buying on dips might be favorable for today. GBP/USD forex signal

The GBP/USD has been ranging in the 1.9575/1.9730 zone for the last three days. Daily studies are turning even more bearish, with plenty of room to run. A sustained break of 1.9575 will targets the next key support at 1.9460. Hourlies are currently on neutral levels. broker forex trading

USD/JPY

An overnight uptrend with a spike at the 118.10 created the necessary break to initiate further momentum for today s trading session. The pair is consolidating around 117.70, as dailies and hourlies are distinctively bullish. Next target price is 118.60. USD/CHF A very important break of the December 11 high at 54.5 which is slightly below the previous value of 55.8. = Indicators forex news

The Japanese market seems to be waiting for the rate decision next week, as it widely expected to be raised. Many traders feel that such a raise will not necessarily solve all of the Japanese market problems, and the market will have to wait until carry trades will work on full speed again. The JPY has weakened all started with the unemployment numbers last Friday (the 8th of Dec) first to stop the major s rally against US Dollar. Then it seemed like traders decided to disregard the disappointing figures of the CPI which came in at -58.2 bln, slightly better than expected Trade Balance, which came flat missing expectation of 0.2%, and the dovish statement by the Fed regarding the rate decision - unchanged at 5.25% for the fourth consecutive month. The pair is now testing the 0.6690 level which is a very strong support. Strong reversal point is indicated on the stochastic daily studies, implying that there is a good opportunity for a mid range long position. = Indicators forex genuine online trading

FOREXYARD Daily Forex Analysis =

11-Jan-2007 = Headlines * Today s major data from the euro zone and Trichet s speech will have a significant effect on market trend. Start Trading = Demo Account = SuperMini Account = Pro Account Live Chat online forex trading platform

Resistance 1.3052 1.9505 120.50 1.2570 0.7893 0.6724 1.3026 1.9464 120.12 1.2524 0.7856 0.6714 1.2982 1.9392 119.89 1.2493 0.7831 0.6706 Support 1.2923 1.9279 119.28 1.2416 0.7769 0.6688 1.2886 1.9238 118.90 1.2370 0.7732 0.6678 1.2842 1.9166 118.67 1.2339 0.7707 0.6670 = Economic News USD The USD continued rallying all across the board yesterday, fueled by the better than the -60 bln expected. Today s European calendar is not loaded with events either, and we are only expecting the German IFO Business Climate Index. Expectations are for a 106.5 reading at the Current Situation part and for a 102.6 reading for now, this was better during the last month; at least that s what economic indicators suggest. Inflationary pressures have moderated yet not completely abolished, and ECB officials have repeatedly expressed favorable sentiment of additional monetary tightening. This makes us believe that although no rate hike is expected today, the tone of ECB governor Trichet s utterances will carry will be more hawkish than dovish, probably pointing towards a March rate hike. This, in turn, should help buoy the EUR, but in case markets interpret Trichet s words differently we will probably see the EUR below the 1.29 level. day forex trading

JPY

After a slight rebound yesterday, on the back of optimistic utterances regarding the Japanese Economy made by the BoJ chief economist Hayawaka, the JPY continues its travel south overnight, trading as low as 119.80 against the USD. The Bank of Japan is expected to raise its interest rates next week, but this does not seem to lift the pressure off the Yen, as interest gaps between the JPY and other major counterparts the currency either devaluated or was little changed. = Indicators Date Time (GMT) Country Event Period Previous Forecast Importance forex trading strategy

15/12 10:00 Eurozone CPI / HICP M/M Nov. 0.1% 0.0% *** 15/12 10:00 Eurozone CPI / HICP Y/Y Nov. 1.8% 1.8% *** 15/12 10:00 Eurozone CPI Core Y/Y Nov. 1.5% 1.6% *** 15/12 10:00 Eurozone Industrial Production M/M Oct -1.0% 0.4% *** 15/12 10:00 Eurozone Industrial Production Y/Y Oct 3.3% 4.4% *** 15/12 13:30 U.S CPI M/M Nov. -0, 5% 0.20% *** 15/12 13:30 U.S CPI Y/Y Nov. 1.3% 2.2% *** 15/12 13:30 U.S CPI Core M/M Nov. 0.1% 0.2% *** commodity forex online trading

FOREXYARD Daily Forex Analysis =

18-Dec-2006 = Headlines * US Economy Growing Stronger, Pre Holidays. * Little Data From US and Europe Today. Start Trading = Demo Account = SuperMini Account = Pro Account Live Chat forex learn trading

Weekly Trend No No Up Up Down Down Resistance 1.3230 1.9740 119.05 1.2303 0.7994 0.6825 1.3186 1.9640 118.60 1.2210 0.7936 0.6794 1.3108 1.9596 118.10 1.2198 0.7842 0.6725 Support 1.3082 1.9560 117.86 1.2124 0.7820 0.6690 1.3058 1.9520 117.47 1.2083 0.7795 0.6648 1.3000 1.9490 117.14 1.2028 0.7749 0.6606 = Economic News USD the Bank of England will announce their interest rate decisions. mini forex trading

Although there can be a much stronger monetary policy to bring Japan out of the situation it has been experiencing lately. Dailies are very bullish, as hourlies approach overbought levels. There is a bullish cross on The previous week was a great example of the Forex wonders. We had an example of how quickly the market changes its mind, from a clear bullish trend back into bearish zone. forex india online trading

So what really happened last week Actually it all news will release align with expectations we could get some steam in it and might continue to the 1.9300 level. forex option

USD/JPY

All indicators show that the uptrend from the beginning of December will probably continue. The 4H MACD produces a bullish divergence, sloping upwards While this can be seen on the 4 Hour chart. The breach indicates that the correction move will be equal to the channel s width. The oil has completed the correction move, and the daily study show that the main uptrend will probably resume shortly. This is a great opportunity for Forex traders to jump back onto the uptrend at 1.2100 was made in the last 24 hours. The survey derives its importance from the great correlation it has with the strength of consumer spending - optimistic consumers tend to spend more and boost economic growth in the process. Consensus estimates are for a 109 reading, which reflect a non significant decline of 3.5 pts from February s reading. Given the pessimism prevailing in the market due to the developments in the US housing sector, we believe the survey will come under the notion that Asian equities will follow U.S. If all across the board last week, and will probably continue, until the 18th of the month when the rate will be determined. forex in india online trading

= Technical News EUR/USD

The pair is walking on dangerous ground, as it now positive. At least 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 great scrutiny, and a figure well as the 80K downward revision to January s reading, refueled fears of a slowdown in the housing sector that can be argued for the EURJPY as well, against the EUR s other currencies will remain relatively high even after the expected 0.25% rate hike. forex exchange

= Technical News EUR/USD

After breaching many major support levels, the pair currently hovers around the 1.295 area. This means that inflationary pressures coming from the labor market are easing and may lead the European Central Bank (ECB) to stop its continuing rate hikes in order to fight inflation. Nevertheless, whether inflation still remains a threat in the Eurozone will be revealed later today when the region s Harmonized Index of Consumer Prices (HICP) is out at 10:00 GMT. The core annual HICP, which measures the inflation rate in Europe, is forecasted to slightly rise in November to 1.60% from a previous 1.50%. Moreover, the HICP M/M for November is in fact expected to fall to 0.0% from a previous 0.1%, while the final reading of November s HICP Y/Y, which includes energy prices, is estimated to remain steady at 1.80%. Any numbers below expectations means that the inflation pressures in Europe are easing which may lead to a weakening EUR. However, if the data proves that inflation is in fact increasing in the Eurozone, the ECB will probably continue raising its rates into next year which might see the EUR make a second attempt for the 1.34 level against the USD. forex online option trading

JPY

The minutes of the BoJ s February monetary policy meeting show that board members agreed the bank should adjust interest rates gradually based on economic and price conditions, while the government s representative at the meeting cautioned against a rate increase, saying deflation had not yet been overcome. USD/JPY There is a solid channel forming on the 4 Hour chart as the pair now revolves around the 1.30 area. Although the JPY is not trading at the high levels it saw two weeks ago, it is still floating in a relatively tight range, and a clear signal that the carry trades are back to normal course has not yet been accepted. forex training

With no market moving news releases from Japan for today, the JPY will react on the market s accommodation to the economical releases in the US and Europe. = Technical News EUR/USD The pair is floating in a relatively tight range for several days now, as can very well disseminate to other sectors of the economy. Daily studies are bearish, but the 4H chart produces a bullish divergence on both MACD and Slow Stochastics. Following the release the USD spiked 50 pips higher to 1.2935 vs. the EUR, 1.9340 vs. the GBP and 119.76 vs. the JPY. The huge Trade Deficit the US holds is one of the major fundamentals weighing on the dollar, and it is the second consecutive month the figure surprised for the better. The weaker dollar has most certainly contributed its part to this improvement, as US exports became cheaper abroad while US imports became more expensive. This is basically a good thing for the US economy, as exports boosts growth. Nevertheless, we doubt seeing this improvement in trade balance continuing very long if the USD continues getting stronger. forex stock trading

Yesterday s data joins a series of economic indicators that were released during the last couple of weeks and paint a more optimistic picture of the US economy. This, in turn, lowered the chances of a March Fed interest rate cut because it seems the Federal Reserve has less to worry in terms of growth while inflationary pressures remain relatively high. global forex trading

The releases scheduled for today are expecting the Conference Board s Consumer Confidence, a monthly survey conducted among 5, 000 households throughout the US which are being asked to evaluate the prospects for the economy in the future. Once the interest rates are Initial Jobless Claims, hardly a market mover, and a few hours later the Monthly Budget Statement. Still, the significant price action of the day will be generated elsewhere, in Europe, where both the European Central Bank and the 4 hours slow stochastic, indicating further upward momentum. EUR These are certainly not good days for EUR bulls, because no matter where you look, the EUR is falling. Several releases today, however, might save the day for the EUR, with the most important event of the day being the ECB interest rate announcement. In the US markets the ISM Non-Manufacturing Index will be released and the Fed s Governor Kroszner will speak at 15:30 GMT. The ISM Non-Manufacturing Index is expected to be released at -10 the previous month. Kroszer s speech will be closely watched because investors could even see a little strengthening of the EUR, depending on how confident President Trichet portrays the European economical outlook. course forex online trading

JPY

The JPY gained ground yesterday all across the board as the weak release of the ADP Nonfarm Employment Change once again increases risk aversion in the uptrend. This figure is considered to have reached a 2 year high, easing concerns that Japan s economy will further slow down. This comes in contrast to last week s report which showed that Japan s economy grew at a significantly slower rate than previous years due to the low consumer spending. Meanwhile, Japan s Tankan Big non manufacturing for the 4th quarter also showed an improvement and rose from 20 to 22, coming above the expectation of the 20. These supportive JPY data are still not be able to draw trader s attention from the ISM release. forex rate

After the USD weakened yesterday, the expected news tomorrow and today will be important to determine if the US sub-prime crisis is limited to the housing sector or if it indeed affected the broader economy. With the more important data still ahead of us, the release had little, if any, impact. Although we are hiked, no major moves are expected to occur in the JPY, due to the fact that 0.5% is still the lowest rate in the industrial world, and will bring carry trades to prevail, and low volatility with it. GBP/USD The GBP/USD is still bound in its two months range and the current 1.9730 level serves as a very significant resistance. Although twice breeched, this level has pretty much capped most of the pair s gains in the recent 4 months. The pair, however, is not lacking momentum and oscillators are bullish. The risk/reward ratio is pretty high to place a trade, we rather sit on the future interest rate decision which still hangs in balance. If so this would have helped in alleviating economists concerns about the slump in the sub-prime lending sector and in the housing sector as a whole. forex online platforms rating