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The new Forex trading week has begun quite actively. USD was a little bit suppressed by its main rivals – GBP and EUR because of the quotes’ rising on European and Asian stock exchanges and British news releases: retail sales grew up for 1.4% (0.9% growth predicted), but Empire Manufacturing index fell down to 23.51 instead of predicted 30.0. So, GBP/USD went up to the point of 1.6800 and broke through it yesterday, having set 3-month’s maximum – 1.6876. EUR/USD at first reached the level of 1.5015, but then USD managed to recover a bit and the pair fell down and finished the Forex trading day at 1.4965.

On Tuesday, November 17, 2009 the main attention of Forex trading market participants is to be drawn to the data on Net Long-term TIC Flows in the USA, which is predicted to be about $30 milliard. And also the Forex trading market will be influenced by the information on British Consumer price index and retail price index. The important for USD piece of news will be released in the USA: Producer Price Index and changes in Industrial Production.

Due to that today EUR/USD is like to fall down a bit and to be trading around 1.4900, but the fall to the point of 1.4850 can be expected as well. GBP/USD might rise up a little and even reach the level of 1.6900. USD/CHF might go down to 1.0050 and USD/JPY will be trading between 89.50-88.50.

by Jonathan Halprid
November 17, 2009
See Forex Analysis and Forex Forecasts for the previous days there:
November 16, 2009 Can USD rise that week?
November 13, 2009 Possible EUR and GBP correction
November 12, 2009 Possible fall of USD
November 11, 2009 Little rise of USD

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