Forex Technical Analysis for 02/04-02/08 Week

EUR/USD trend: sell.
GBP/USD trend: sell.
USD/JPY trend: sell.
EUR/JPY trend: sell.

Floor Pivot Points:
Pair	3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
EUR/USD	1.4390	1.4526	1.4662	1.4798	1.4934	1.5070	1.5206
GBP/USD	1.9230	1.9438	1.9543	1.9751	1.9856	2.0064	2.0169
USD/JPY	103.92	104.82	105.67	106.57	107.42	108.32	109.17
EUR/JPY	151.70	153.63	155.63	157.56	159.56	161.49	163.49

Woodie's Pivot Points:
Pair	2nd Sup	1st Sup	Pivot	1st Res	2nd Res
EUR/USD	1.4526	1.4663	1.4798	1.4935	1.5070
GBP/USD	1.9438	1.9543	1.9751	1.9856	2.0064
USD/JPY	104.82	105.67	106.57	107.42	108.32
EUR/JPY	153.63	155.63	157.56	159.56	161.49

Camarilla Pivot Points:
Pair	4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
EUR/USD	1.4649	1.4724	1.4749	1.4774	1.4824	1.4849	1.4874	1.4949
GBP/USD	1.9477	1.9563	1.9592	1.9620	1.9678	1.9706	1.9735	1.9821
USD/JPY	105.57	106.05	106.21	106.37	106.69	106.85	107.01	107.49
EUR/JPY	155.48	156.56	156.92	157.28	158.00	158.36	158.72	159.80

Tom DeMark's Pivot Points:
Pair:	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
Resistance:	1.4866	1.9804	107.87	158.56
Support:	1.4594	1.9490	106.12	154.63

Fibonacci Retracement Levels:
Pairs	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
100.0%	1.4933	1.9958	107.46	159.48
61.8%	1.4829	1.9838	106.79	157.98
50.0%	1.4797	1.9802	106.59	157.51
38.2%	1.4765	1.9765	106.38	157.05
23.6%	1.4725	1.9719	106.12	156.48
0.0%	1.4661	1.9645	105.71	155.55

Forex Technical Analysis for 01/28-02/01 Week

EUR/USD trend: sell.
GBP/USD trend: hold.
USD/JPY trend: buy.
EUR/JPY trend: hold.

Floor Pivot Points:
Pair	3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
EUR/USD	98.3103	49.8734	98.3517	49.9148	98.3931	49.9562	98.4345
GBP/USD	1.8987	1.9162	1.9497	1.9672	2.0007	2.0182	2.0517
USD/JPY	102.27	103.62	105.18	106.53	108.09	109.44	111.00
EUR/JPY	145.84	148.98	152.84	155.98	159.84	162.98	166.84

Woodie's Pivot Points:
Pair	2nd Sup	1st Sup	Pivot	1st Res	2nd Res
EUR/USD	74.1022	146.8093	74.1436	146.8507	74.1850
GBP/USD	1.9162	1.9497	1.9672	2.0007	2.0182
USD/JPY	103.62	105.18	106.53	108.09	109.44
EUR/JPY	148.98	152.84	155.98	159.84	162.98

Camarilla Pivot Points:
Pair	4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
EUR/USD	146.8072	146.8186	146.8224	146.8262	146.8338	146.8376	146.8414	146.8528
GBP/USD	1.9551	1.9691	1.9738	1.9784	1.9878	1.9925	1.9971	2.0112
USD/JPY	105.13	105.93	106.20	106.46	107.00	107.26	107.53	108.33
EUR/JPY	152.86	154.79	155.43	156.07	157.35	157.99	158.64	160.56

Tom DeMark's Pivot Points:
Pair:	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
Resistance:	1.4938	1.9840	108.77	161.41
Support:	1.4524	1.9330	105.86	154.41

Fibonacci Retracement Levels:
Pairs	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
100.0%	1.4779	1.9848	107.89	159.11
61.8%	1.4621	1.9653	106.78	156.44
50.0%	1.4572	1.9593	106.44	155.61
38.2%	1.4523	1.9533	106.09	154.78
23.6%	1.4463	1.9458	105.67	153.76
0.0%	1.4365	1.9338	104.98	152.11

Forex Technical Analysis for 01/21-01/25 Week

EUR/USD trend: sell.
GBP/USD trend: sell.
USD/JPY trend: sell.
EUR/JPY trend: sell.

Floor Pivot Points:
Pair	3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
EUR/USD	1.4167	1.4378	1.4499	1.4710	1.4831	1.5042	1.5163
GBP/USD	1.9169	1.9340	1.9447	1.9618	1.9725	1.9896	2.0003
USD/JPY	102.49	104.20	105.53	107.24	108.57	110.28	111.61
EUR/JPY	148.20	151.94	154.07	157.81	159.94	163.68	165.81

Woodie's Pivot Points:
Pair	2nd Sup	1st Sup	Pivot	1st Res	2nd Res
EUR/USD	1.4356	1.4453	1.4688	1.4785	1.5020
GBP/USD	1.9340	1.9447	1.9618	1.9725	1.9896
USD/JPY	104.20	105.53	107.24	108.57	110.28
EUR/JPY	151.94	154.07	157.81	159.94	163.68

Camarilla Pivot Points:
Pair	4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
EUR/USD	1.4436	1.4528	1.4558	1.4589	1.4649	1.4680	1.4710	1.4802
GBP/USD	1.9400	1.9477	1.9502	1.9528	1.9578	1.9604	1.9629	1.9706
USD/JPY	105.18	106.01	106.29	106.57	107.13	107.41	107.69	108.52
EUR/JPY	152.96	154.58	155.11	155.65	156.73	157.27	157.80	159.42

Tom DeMark's Pivot Points:
Pair:	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
Resistance:	1.4937	1.9672	109.43	161.81
Support:	1.4605	1.9394	106.39	155.94

Fibonacci Retracement Levels:
Pairs	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
100.0%	1.4922	1.9790	108.96	161.56
61.8%	1.4795	1.9684	107.80	159.32
50.0%	1.4756	1.9651	107.44	158.63
38.2%	1.4717	1.9618	107.08	157.93
23.6%	1.4668	1.9578	106.64	157.08
0.0%	1.4590	1.9512	105.92	155.69

Forex Technical Analysis for 01/14-01/18 Week

EUR/USD trend: sell.
GBP/USD trend: sell.
USD/JPY trend: hold.
EUR/JPY trend: sell.

Floor Pivot Points:
Pair	3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
EUR/USD	1.4493	1.4567	1.4671	1.4745	1.4849	1.4923	1.5027
GBP/USD	1.9077	1.9280	1.9422	1.9625	1.9767	1.9970	2.0112
USD/JPY	106.41	107.40	108.12	109.11	109.83	110.82	111.54
EUR/JPY	157.35	158.64	159.71	161.00	162.07	163.36	164.43

Woodie's Pivot Points:
Pair	2nd Sup	1st Sup	Pivot	1st Res	2nd Res
EUR/USD	1.4575	1.4687	1.4753	1.4865	1.4931
GBP/USD	1.9280	1.9422	1.9625	1.9767	1.9970
USD/JPY	107.40	108.12	109.11	109.83	110.82
EUR/JPY	158.64	159.71	161.00	162.07	163.36

Camarilla Pivot Points:
Pair	4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
EUR/USD	1.4678	1.4727	1.4743	1.4760	1.4792	1.4809	1.4825	1.4874
GBP/USD	1.9374	1.9469	1.9501	1.9532	1.9596	1.9627	1.9659	1.9754
USD/JPY	107.89	108.36	108.52	108.67	108.99	109.14	109.30	109.77
EUR/JPY	159.49	160.14	160.36	160.57	161.01	161.22	161.44	162.09

Tom DeMark's Pivot Points:
Pair:	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
Resistance:	1.4797	1.9696	110.33	162.72
Support:	1.4619	1.9351	108.62	160.36

Fibonacci Retracement Levels:
Pairs	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
100.0%	1.4818	1.9828	110.11	162.28
61.8%	1.4750	1.9696	109.46	161.38
50.0%	1.4729	1.9656	109.26	161.10
38.2%	1.4708	1.9615	109.05	160.82
23.6%	1.4682	1.9564	108.80	160.48
0.0%	1.4640	1.9483	108.40	159.92

Interest Rate Decision's Influence on EUR/USD

Today the European Central Bank decided to leave the interest rate unchanged at 4.00%, as it was expected by the markets. But the EUR/USD went up after the decision became known - the currency pair gained more than 70 pips. What has caused that? Along with the rate decision ECB announced another $20 billion intervention to the banks to add more dollar liquidity. That greatly cut the dollar's position on Forex, especially against European currency.

Positive to the U.S. dollar was the weekly report on the initial jobless claims - last week they dropped from 337k to 322k, while a gain up to 340k has been anticipated by the market analysts.

Wholesale inventories (business) rose up by 0.6% compared with the October's 0% unchanged value. Economic strategists forecasted only 0.4%, so this is a good news for dollar bulls.

Forex Technical Analysis for 01/07-01/11 Week

EUR/USD trend: sell.
GBP/USD trend: hold.
USD/JPY trend: sell.
EUR/JPY trend: sell.

Floor Pivot Points:
Pair	3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
EUR/USD	1.4340	1.4454	1.4597	1.4711	1.4854	1.4968	1.5111
GBP/USD	1.9144	1.9409	1.9573	1.9838	2.0002	2.0267	2.0431
USD/JPY	102.01	104.96	106.78	109.73	111.55	114.50	116.32
EUR/JPY	151.94	155.84	157.96	161.86	163.98	167.88	170.00

Woodie's Pivot Points:
Pair	2nd Sup	1st Sup	Pivot	1st Res	2nd Res
EUR/USD	1.4461	1.4613	1.4718	1.4870	1.4975
GBP/USD	1.9409	1.9573	1.9838	2.0002	2.0267
USD/JPY	104.96	106.78	109.73	111.55	114.50
EUR/JPY	155.84	157.96	161.86	163.98	167.88

Camarilla Pivot Points:
Pair	4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
EUR/USD	1.4600	1.4670	1.4694	1.4717	1.4765	1.4788	1.4812	1.4882
GBP/USD	1.9502	1.9620	1.9659	1.9699	1.9777	1.9817	1.9856	1.9974
USD/JPY	105.99	107.30	107.74	108.17	109.05	109.48	109.92	111.23
EUR/JPY	156.77	158.42	158.98	159.53	160.63	161.18	161.74	163.39

Tom DeMark's Pivot Points:
Pair:	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
Resistance:	1.4783	2.0135	113.03	165.93
Support:	1.4526	1.9706	108.26	159.91

Fibonacci Retracement Levels:
Pairs	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
100.0%	1.4824	2.0102	112.67	165.76
61.8%	1.4726	1.9938	110.85	163.46
50.0%	1.4696	1.9888	110.29	162.75
38.2%	1.4665	1.9837	109.72	162.04
23.6%	1.4628	1.9774	109.03	161.16
0.0%	1.4567	1.9673	107.90	159.74

EUR/USD Soars on Disastrous Employment Data

EUR/USD showed a growth of more than 100 pips in one hour immediately after the employment data from the United States were released today. While trading flat and even falling a little during the day, EUR/USD broke through its own record level setting a new historical maximum to 1.4824.

Nonfarm payrolls growth was expected to fall from 94k in November to 70k in December, but the released data was a real catastrophe - just 18k growth. Meanwhile the unemployment rate rose from 4.7% to 5.0% showing that the problems in the U.S. economy are going to be really serious.

ISM services index in December showed a less dramatical decline dropping to 53.9% from 54.1% in November, while a drop to 53.5% was expected.

Forex Technical Analysis for 12/31-01/04 Week

EUR/USD trend: hold.
GBP/USD trend: hold.
USD/JPY trend: hold.
EUR/JPY trend: hold.

Floor Pivot Points:
Pair	3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
EUR/USD	1.4123	1.4245	1.4484	1.4606	1.4845	1.4967	1.5206
GBP/USD	1.9532	1.9642	1.9803	1.9913	2.0074	2.0184	2.0345
USD/JPY	109.13	110.71	111.50	113.08	113.87	115.45	116.24
EUR/JPY	160.92	162.33	163.84	165.25	166.76	168.17	169.68

Woodie's Pivot Points:
Pair	2nd Sup	1st Sup	Pivot	1st Res	2nd Res
EUR/USD	1.4274	1.4544	1.4635	1.4905	1.4996
GBP/USD	1.9642	1.9803	1.9913	2.0074	2.0184
USD/JPY	110.71	111.50	113.08	113.87	115.45
EUR/JPY	162.33	163.84	165.25	166.76	168.17

Camarilla Pivot Points:
Pair	4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
EUR/USD	1.4525	1.4625	1.4658	1.4691	1.4757	1.4790	1.4823	1.4923
GBP/USD	1.9816	1.9890	1.9915	1.9940	1.9990	2.0015	2.0040	2.0114
USD/JPY	111.00	111.65	111.87	112.08	112.52	112.73	112.95	113.60
EUR/JPY	163.74	164.55	164.81	165.08	165.62	165.89	166.15	166.96

Tom DeMark's Pivot Points:
Pair:	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
Resistance:	1.4906	2.0129	113.48	166.01
Support:	1.4545	1.9858	111.11	163.09

Fibonacci Retracement Levels:
Pairs	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
100.0%	1.4727	2.0022	114.65	166.66
61.8%	1.4589	1.9918	113.74	165.54
50.0%	1.4547	1.9887	113.47	165.20
38.2%	1.4504	1.9855	113.19	164.86
23.6%	1.4451	1.9815	112.84	164.43
0.0%	1.4366	1.9751	112.28	163.74

Forex Technical Analysis for 12/24-12/28 Week

EUR/USD trend: hold.
GBP/USD trend: hold.
USD/JPY trend: hold.
EUR/JPY trend: hold.

Floor Pivot Points:
Pair	3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
EUR/USD	1.4166	1.4238	1.4308	1.4380	1.4450	1.4522	1.4592
GBP/USD	1.9269	1.9539	1.9687	1.9957	2.0105	2.0375	2.0523
USD/JPY	111.62	112.18	113.09	113.65	114.56	115.12	116.03
EUR/JPY	160.10	160.92	162.41	163.23	164.72	165.54	167.03

Woodie's Pivot Points:
Pair	2nd Sup	1st Sup	Pivot	1st Res	2nd Res
EUR/USD	1.4238	1.4307	1.4380	1.4449	1.4522
GBP/USD	1.9539	1.9687	1.9957	2.0105	2.0375
USD/JPY	112.18	113.09	113.65	114.56	115.12
EUR/JPY	160.92	162.41	163.23	164.72	165.54

Camarilla Pivot Points:
Pair	4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
EUR/USD	1.4300	1.4339	1.4352	1.4365	1.4391	1.4404	1.4417	1.4456
GBP/USD	1.9604	1.9719	1.9757	1.9796	1.9872	1.9911	1.9949	2.0064
USD/JPY	113.20	113.61	113.74	113.88	114.14	114.28	114.41	114.82
EUR/JPY	162.63	163.26	163.48	163.69	164.11	164.32	164.54	165.17

Tom DeMark's Pivot Points:
Pair:	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
Resistance:	1.4486	2.0240	114.84	165.13
Support:	1.4344	1.9822	113.37	162.82

Fibonacci Retracement Levels:
Pairs	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
100.0%	1.4452	2.0228	114.20	164.05
61.8%	1.4398	2.0068	113.64	163.17
50.0%	1.4381	2.0019	113.47	162.90
38.2%	1.4364	1.9970	113.29	162.62
23.6%	1.4344	1.9909	113.08	162.29
0.0%	1.4310	1.9810	112.73	161.74

EUR/USD Corrects Up Before Holidays

EUR/USD played back fully the yesterday's decline, but still ended the last week before the holiday period with a small loss. Forex market will be open despite of any holidays, but the price volatility will be low and no major movements can be expected.

November personal income and spendings report turned out to be better than it was for October and not the least reason for it lies in the pre-holiday sales period. Personal income growth of 0.4% failed to meet the 0.5% expectation, but personal spendings grew up 1.1% which is a lot better than 0.7% forecast. Core PCE inflation, as forecast showed, remained at the same level as in October - 0.2%.

Michigan sentiment index for December was revised from 74.5 to 75.5, which is still below the previous the October's 76.1 value. The consensus among the analysts was that the value be left at 74.5.

Overall, these news are positive for dollar, that might make FOMC think twice before lowering the interest rates further.

Forex Technical Analysis for 12/17-12/21 Week

EUR/USD trend: sell.
GBP/USD trend: sell.
USD/JPY trend: buy.
EUR/JPY trend: hold.

Floor Pivot Points:
Pair	3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
EUR/USD	1.3970	1.4191	1.4309	1.4530	1.4648	1.4869	1.4987
GBP/USD	1.9594	1.9872	2.0023	2.0301	2.0452	2.0730	2.0881
USD/JPY	108.19	109.34	111.30	112.45	114.41	115.56	117.52
EUR/JPY	158.39	160.14	161.79	163.54	165.19	166.94	168.59

Woodie's Pivot Points:
Pair	2nd Sup	1st Sup	Pivot	1st Res	2nd Res
EUR/USD	1.4165	1.4259	1.4504	1.4598	1.4843
GBP/USD	1.9872	2.0023	2.0301	2.0452	2.0730
USD/JPY	109.34	111.30	112.45	114.41	115.56
EUR/JPY	160.14	161.79	163.54	165.19	166.94

Camarilla Pivot Points:
Pair	4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
EUR/USD	1.4242	1.4335	1.4366	1.4397	1.4459	1.4490	1.4521	1.4614
GBP/USD	1.9938	2.0056	2.0095	2.0135	2.0213	2.0253	2.0292	2.0410
USD/JPY	111.56	112.41	112.70	112.98	113.56	113.84	114.13	114.98
EUR/JPY	161.56	162.50	162.81	163.12	163.74	164.05	164.37	165.30

Tom DeMark's Pivot Points:
Pair:	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
Resistance:	1.4759	2.0591	113.43	166.07
Support:	1.4420	2.0162	110.32	162.67

Fibonacci Retracement Levels:
Pairs	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
100.0%	1.4750	2.0579	113.59	165.30
61.8%	1.4621	2.0415	112.40	164.00
50.0%	1.4581	2.0365	112.04	163.60
38.2%	1.4540	2.0314	111.67	163.20
23.6%	1.4491	2.0251	111.21	162.70
0.0%	1.4411	2.0150	110.48	161.90

EUR/USD Bearish After Excellent Economic Data

EUR/USD began the day with some slow downtrend, but continued to accelerate its bearish tendencies after news releases from U.S. showed some well above average macroeconomic stats.

Advance retail sales report for November from U.S. Census Bureau showed that this indicator increased by 1.2% compared with October - much better than 0.6%, which was expected by the market analysts.

The Producer Price Index (PPI) in November rose by surprising 3.2%, compared with 0.1% in October and 1.5% expected growth.

Initial jobless claims for the week ending December 8 were also released today - 333k against 340k (revised up from 338k) last week and below the 335k, as the economists were expecting.

Manufacturing and trade business inventories in October increased by 0.1% - less than expected value of 0.3% growth rate.

EUR/USD Mildly Volatile on Trade Balance Data

EUR/USD was ranging today inside the yesterday's rate limits which were formed with the bullish tendencies triggered by the Tuesday FOMC meeting's statement. Main operational interest rate in the United States was cut by 25 basis points, which equals 0.25% - from 4.50% to 4.25%, while futures markets for the interest rate predicted a 0.50% cut.

Today came out the information on the international trading balance deficit for October 2007 - it increased from $57.1B (a revised value from $56.5B) to $57.8B, while only a mild growth to $57.0B was expected. The reason for the deficit growth was in the fact that imports growing faster than the exports.

U.S. crude oil inventories already made it a habit to drop every week, like there are not enough reasons for the oil prices rally yet. Last week inventories fell by 0.7 million barrels after 8 million decline in a previous week.

Meanwhile federal budget deficit appeared above the average expectation value of $90.0B. In November it went up from the October's $55.5B to $98.2B.

Forex Technical Analysis for 12/10-12/14 Week

EUR/USD trend: sell.
GBP/USD trend: sell.
USD/JPY trend: buy.
EUR/JPY trend: hold.

Floor Pivot Points:
Pair	3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
EUR/USD	1.4286	1.4405	1.4531	1.4650	1.4776	1.4895	1.5021
GBP/USD	1.9598	1.9889	2.0096	2.0387	2.0594	2.0885	2.1092
USD/JPY	108.01	108.78	110.23	111.00	112.45	113.22	114.67
EUR/JPY	158.77	159.83	161.76	162.82	164.75	165.81	167.74

Woodie's Pivot Points:
Pair	2nd Sup	1st Sup	Pivot	1st Res	2nd Res
EUR/USD	1.4407	1.4534	1.4652	1.4779	1.4897
GBP/USD	1.9889	2.0096	2.0387	2.0594	2.0885
USD/JPY	108.78	110.23	111.00	112.45	113.22
EUR/JPY	159.83	161.76	162.82	164.75	165.81

Camarilla Pivot Points:
Pair	4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
EUR/USD	1.4521	1.4589	1.4611	1.4634	1.4678	1.4701	1.4723	1.4791
GBP/USD	2.0029	2.0166	2.0212	2.0257	2.0349	2.0394	2.0440	2.0577
USD/JPY	110.45	111.06	111.26	111.47	111.87	112.08	112.28	112.89
EUR/JPY	162.05	162.87	163.14	163.42	163.96	164.24	164.51	165.33

Tom DeMark's Pivot Points:
Pair:	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
Resistance:	1.4713	2.0740	112.84	165.28
Support:	1.4468	2.0242	110.62	162.29

Fibonacci Retracement Levels:
Pairs	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
100.0%	1.4770	2.0678	111.78	163.88
61.8%	1.4676	2.0488	110.93	162.74
50.0%	1.4648	2.0429	110.67	162.39
38.2%	1.4619	2.0370	110.41	162.03
23.6%	1.4583	2.0298	110.08	161.60
0.0%	1.4525	2.0180	109.56	160.89

EUR/USD Unconcerned with U.S. Employment Data

EUR/USD was mainly ranging today as the markets were undecided whether it is going bullish or bearish expecting the release by U.S. BLS on the November employment situation. After quite optimistic release came out dollar bulls took their ride for a while, but then euro bulls started to push EUR/USD back up keeping it slightly above the average daily range.

Nonfarm payrolls - the main indicator of the U.S. employment situation was at 94,000 in November - an expected continuation of the last month 166,000 increase. But analysts were expecting just 70,000 growth, so the dollar now has some good news to grow on.

Unemployment rate left at the same rate as in October - 4.7%, while markets expected growth to 4.8%. Average hourly earnings increased by 0.5% compared to 0.3% - the average forecast for this indicator.

Forex Technical Analysis for 12/03-12/07 Week

EUR/USD trend: sell.
GBP/USD trend: sell.
USD/JPY trend: buy.
EUR/JPY trend: hold.

Floor Pivot Points:
Pair	3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
EUR/USD	1.4258	1.4443	1.4537	1.4722	1.4816	1.5001	1.5095
GBP/USD	2.0154	2.0343	2.0453	2.0642	2.0752	2.0941	2.1051
USD/JPY	104.52	105.87	108.53	109.88	112.54	113.89	116.55
EUR/JPY	155.66	157.51	160.13	161.98	164.60	166.45	169.07

Woodie's Pivot Points:
Pair	2nd Sup	1st Sup	Pivot	1st Res	2nd Res
EUR/USD	1.4420	1.4492	1.4699	1.4771	1.4978
GBP/USD	2.0343	2.0453	2.0642	2.0752	2.0941
USD/JPY	105.87	108.53	109.88	112.54	113.89
EUR/JPY	157.51	160.13	161.98	164.60	166.45

Camarilla Pivot Points:
Pair	4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
EUR/USD	1.4478	1.4554	1.4580	1.4605	1.4657	1.4682	1.4708	1.4784
GBP/USD	2.0398	2.0480	2.0507	2.0535	2.0589	2.0617	2.0644	2.0726
USD/JPY	108.99	110.10	110.46	110.83	111.57	111.94	112.30	113.41
EUR/JPY	160.28	161.51	161.92	162.33	163.15	163.56	163.97	165.20

Tom DeMark's Pivot Points:
Pair:	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
Resistance:	1.4769	2.0847	113.22	165.53
Support:	1.4490	2.0548	109.21	161.06

Fibonacci Retracement Levels:
Pairs	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
100.0%	1.4907	2.0832	111.22	163.84
61.8%	1.4800	2.0718	109.69	162.13
50.0%	1.4768	2.0683	109.22	161.61
38.2%	1.4735	2.0647	108.74	161.08
23.6%	1.4694	2.0604	108.16	160.42
0.0%	1.4628	2.0533	107.21	159.37

EUR/USD Retraces After Bad Fundamentals

EUR/USD seemed almost completely independent of the important fundamental indicators which were signaling the worsening economical situation in USA. EUR/USD was falling by more than 100 pips during the day, but then it returned to a more moderate loss - 50 pips.

Manufacturers' durable goods orders in October 2007 decreased by $0.9 billion which is 0.4% the previous month value. The consensus forecast for this value was at 0%, meaning that the orders shouldn't been changing at all.

National Association of Realtors announced its October existing home sales number - 4.97 million annualized, well below both 5.03 million in September and 5.00 expected for October.

Crude oil inventories reported by the U.S. Department of Energy from November 16 to November 23 declined by 0.4 million barrels, showing another week without an increase, which is so needed after some major inventories downfall several weeks ago.

Consumer Confidence Lowest Since 2005

In November Consumer Confidence Index, surveyed by the Conference Board Inc., fell by 8.3 points to its lowest value since 2005. It decreased from 95.6 in October to 87.3 this month. Consumer confidence is the important measure of the consumers' readiness to spend money and take credits. When this index falls so sharply, it usually means that U.S. economy is experiencing a slowdown or even a recession.

Contrary to the declining confidence index United States dollar strengthened its positions against many other currencies on the Forex market. EUR/USD fell by almost 50 points today. Signs of U.S. economy weakening began to worry OPEC and they promised to increase oil exporting volume, which caused oil prices to slide down. Decreasing oil prices in their turn caused a dollar uptrend.

Forex Technical Analysis for 11/26-11/30 Week

EUR/USD trend: hold.
GBP/USD trend: sell.
USD/JPY trend: hold.
EUR/JPY trend: sell.

Floor Pivot Points:
Pair	3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
EUR/USD	1.4303	1.4462	1.4649	1.4808	1.4995	1.5154	1.5341
GBP/USD	2.0151	2.0301	2.0463	2.0613	2.0775	2.0925	2.1087
USD/JPY	103.35	105.45	106.88	108.98	110.41	112.51	113.94
EUR/JPY	155.06	157.26	158.99	161.19	162.92	165.12	166.85

Woodie's Pivot Points:
Pair	2nd Sup	1st Sup	Pivot	1st Res	2nd Res
EUR/USD	1.4469	1.4663	1.4815	1.5009	1.5161
GBP/USD	2.0301	2.0463	2.0613	2.0775	2.0925
USD/JPY	105.45	106.88	108.98	110.41	112.51
EUR/JPY	157.26	158.99	161.19	162.92	165.12

Camarilla Pivot Points:
Pair	4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
EUR/USD	1.4646	1.4741	1.4773	1.4804	1.4868	1.4899	1.4931	1.5026
GBP/USD	2.0453	2.0539	2.0568	2.0596	2.0654	2.0682	2.0711	2.0797
USD/JPY	106.37	107.34	107.66	107.99	108.63	108.96	109.28	110.25
EUR/JPY	158.56	159.64	160.00	160.36	161.08	161.44	161.80	162.88

Tom DeMark's Pivot Points:
Pair:	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
Resistance:	1.4794	2.0850	111.46	164.02
Support:	1.4448	2.0538	107.93	160.09

Fibonacci Retracement Levels:
Pairs	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
100.0%	1.4967	2.0763	111.08	163.39
61.8%	1.4835	2.0644	109.73	161.89
50.0%	1.4794	2.0607	109.32	161.43
38.2%	1.4753	2.0570	108.90	160.96
23.6%	1.4703	2.0525	108.38	160.39
0.0%	1.4621	2.0451	107.55	159.46

Forex Technical Analysis for 11/19-11/23 Week

EUR/USD trend: hold.
GBP/USD trend: sell.
USD/JPY trend: sell.
EUR/JPY trend: sell.

Floor Pivot Points:
Pair	3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
EUR/USD	1.4304	1.4412	1.4536	1.4644	1.4768	1.4876	1.5000
GBP/USD	1.9793	2.0073	2.0309	2.0589	2.0825	2.1105	2.1341
USD/JPY	106.89	108.01	109.53	110.65	112.17	113.29	114.81
EUR/JPY	153.98	156.33	159.60	161.95	165.22	167.57	170.84

Woodie's Pivot Points:
Pair	2nd Sup	1st Sup	Pivot	1st Res	2nd Res
EUR/USD	1.4416	1.4545	1.4648	1.4777	1.4880
GBP/USD	2.0073	2.0309	2.0589	2.0825	2.1105
USD/JPY	108.01	109.53	110.65	112.17	113.29
EUR/JPY	156.33	159.60	161.95	165.22	167.57

Camarilla Pivot Points:
Pair	4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
EUR/USD	1.4533	1.4597	1.4618	1.4640	1.4682	1.4704	1.4725	1.4789
GBP/USD	2.0260	2.0402	2.0449	2.0497	2.0591	2.0639	2.0686	2.0828
USD/JPY	109.61	110.33	110.58	110.82	111.30	111.54	111.79	112.51
EUR/JPY	159.79	161.33	161.85	162.36	163.40	163.91	164.43	165.97

Tom DeMark's Pivot Points:
Pair:	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
Resistance:	1.4706	2.0965	111.41	166.40
Support:	1.4474	2.0449	108.77	160.78

Fibonacci Retracement Levels:
Pairs	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
100.0%	1.4751	2.0870	111.76	164.29
61.8%	1.4662	2.0673	110.75	162.14
50.0%	1.4635	2.0612	110.44	161.48
38.2%	1.4608	2.0551	110.13	160.82
23.6%	1.4574	2.0476	109.74	160.00
0.0%	1.4519	2.0354	109.12	158.67