Daily Forex Update: Nov 28 2008

FOREX Daily Outlook by Easy-Forex.com

Calm Markets with US away, Black Friday today

CURRENCY TRADING SUMMARY – 28th November 2008 (00:30GMT)

· U.S. Dollar Trading (USD) with US away on Thanksgiving Holidays the market saw compressed range bound trading. No data was released and US Stock markets were closed. Crude Oil closed down $0.40 ending the New York session at $54.00 per barrel. Looking ahead, Black Friday shopping in the US today.

· The Euro (EUR) kept to inside yesterday’s range as the market consolidated the move higher and waited for more direction. As the volatility decreases, there is potential for a retracement as risk aversion should also come off. On the data front, German Unemployment change in November beat expectations dropping -10k vs. -4K previously. Overall the EUR/USD traded with a low of 1.2862 and a high of 1.2967 before closing the day at 1.2895. Looking ahead, November CPI is expected at 2.3% vs. 3.2%. Also released October Eurozone Unemployment expected at 7.6% vs. 7.5% previously.

· The Japanese Yen (JPY) was unable to break out of the 95-96 with little direction given that US stocks were closed. Released early Asia on Friday was a host of Economic data that points to more downside risks for Japan. October Household Spending was at -3.8% vs. -3.4% forecast. Retails Sales dropped -0.6% y/y and Industrial Production dropped -3.1% m/m. CPI dropped to 1.9%y/y as petrol hit 3 year lows in Japan. Overall the USDJPY traded with a low of 95.02 and a high of 95.70 before closing the day around 95.50 in the New York session. Looking ahead, October Housing Starts are expected at 29.3 vs. 54.2 previously.

· The Sterling (GBP) was the most volatile pair last night as 1.55 was once again tested before easing back to support at 1.5400. The November Consumer Confidence fell further to -38 vs. -36 previously. Overall the GDP/USD traded with a low of 1.5316 and a high of 1.5511 before closing the day at 1.5410 in the New York session. Looking ahead, November CBI Orders forecast at -35 vs. -27 previous.

· The Australian Dollar (AUD) was very buoyant as technical charts suggested that an uptrend could be underway as soon as resistance at .6600 was cleared away. The AUD/USD has not retraced much of its large losses over the last 2 months and a settling in financial markets could provide the catalyst to test the topside. Next week’s RBA meeting is the major event risk for the AUD before Christmas. Overall the AUD/USD traded with a low of 0.6480 and a high of 0.6601 before closing the US session at 0.6554.

· Gold (XAU) was extremely quiet holding above the $810 support searching for new direction. Overall trading with a low of USD$811 and high of USD$817 before ending the New York session at USD$815 an ounce.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.2568	1.2804	1.2895	1.3081	1.3116
USD/JPY	93.62	94.94	95.55	97.43	97.55
GBP/USD	1.4984	1.5176	1.5380	1.5534	1.5703
AUD/USD	0.6232	0.6333	0.6560	0.6618	0.6696
XAU/USD	743.00	786.00	813.00	856.59	871.00

· Euro – 1.2895

Initial support at 1.2804 (Nov 25 low) followed by 1.2568 (Nov 24 low). Initial resistance is now located at 1.3081 (Nov 25 low) at followed by 1.3116 (Nov 5 high)

· Yen – 95.55

Initial support is located at 94.94 (Nov 24 low) followed by 93.62 (Nov 20 low). Initial resistance is now at 97.43 (Nov 25 high) followed by 97.55 (Nov 17 high).

· Pound – 1.5380

Initial support at 1.5176 (Nov 26 low) followed by 1.4984 (Nov 25 low). Initial resistance is now at 1.5534 (Nov 34 level) followed by 1.5703 (Nov 11 high).

· Australian Dollar – 0.6560

Initial support at 0.6333 (Nov 25 low) followed by the 0.6232 (Nov 24 low). Initial resistance is now at 0.6618 (Nov 25 high) followed by 0.6696 (Nov 14 high).

· Gold – 813

Initial support at 786 (Nov 24 low) followed by 743 (Nov 21 low). Initial resistance is now at 856 (Oct 15 high) followed by 871 (Oct 13).

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Product Description

Here is THE book recounting the life and times of one of the most respected men in the world, Warren Buffett. The legendary Omaha investor has never written a memoir, but now he has allowed one writer, Alice Schroeder, unprecedented access to explore directly with him and with those closest to him his work, opinions, struggles, triumphs, follies, and wisdom. The result is the personally revealing and complete biography of the man known everywhere as “The Oracle of Omaha.” continued description

c Daily Forex Updates 2008

Daily Forex Update: Nov 27 2008

FOREX Daily Outlook by Easy-Forex.com

4^th day of US stock gains ahead of Thanksgiving Holiday

CURRENCY TRADING SUMMARY – 27th November 2008 (00:30GMT)

· U.S. Dollar Trading (USD) was able to maintain strength even as Oil and Stocks rallied. The Economic data released was extremely weak, with Personal spending falling -1% and October Durable goods orders falling -6.2%. Also released weekly jobless claims remaining at high levels of 529K. New Homes sales were worse than expected at 433K vs. 441 forecast. In U.S. share markets, the NASDAQ was up 67 points (4.6%) and the Dow Jones was up 247 points 2.91%). Crude Oil closed up $3.67 ending the New York session at $54.44 per barrel. Looking ahead, Thanksgiving Holiday in US.

· The Euro (EUR) slipped off the 1.30 handle in Asia and remained weak for the rest of the day as the market began to focus on coming rate cuts from the ECB. Rallies in Oil and the Dow help to lift the Euro of lows into the US close. Overall the EUR/USD traded with a low of 1.2822 and a high of 1.3032 before closing the day at 1.2895. Looking ahead, German Unemployment change is expected at -4K vs. -26K previously and an unchanged Unemployment rate at 7.5% in November. Eurozone Sentiment Indicators are also released and the ECB president Trichet speaks.

· The Japanese Yen (JPY) found strength as Asian stocks were sluggish and recession concerns turned USD/JPY and crosses lower. Helping the market was the China rate cut of 108bps but this was unable to be sustained even as US stocks rallied. Overall the USDJPY traded with a low of 94.62 and a high of 95.94 before closing the day around 95.50 in the New York session. Looking ahead, BOJ meeting minutes are released and Governor Shirakawa will be speaking.

· The Sterling (GBP) was extremely volatile as low liquidity made it easy to move wildly. After starting the day near 1.55 the GBP was offer most of the day but found support as Oil and Stocks rallied. Overall the GDP/USD traded with a low of 1.5179 and a high of 1.5444 before closing the day at 1.5350 in the New York session.

· The Australian Dollar (AUD) gained support from multiple areas as commodities rallied and stocks were buoyant in the US. After losing the .6500 level in Asia the key level proved a magnet for the rest of the day although .6550 has proven too big a hurdle to jump in recent sessions. Overall the AUD/USD traded with a low of 0.6431 and a high of 0.6551 before closing the US session at 0.6510.

· Gold (XAU) traders took profit on the precious metal as German Inflation fell sharply, halting a 5 day rally. Overall trading with a low of USD$809 and high of USD$823 before ending the New York session at USD$812 an ounce.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.2568	1.2804	1.2895	1.3081	1.3116
USD/JPY	93.62	94.94	95.55	97.43	97.55
GBP/USD	1.1484	1.4984	1.5335	1.5500	1.5535
AUD/USD	0.6232	0.6298	0.6500	0.6618	0.6696
XAU/USD	743.00	786.00	810.00	856.59	871.00

· Euro – 1.2895

Initial support at 1.2804 (Nov 25 low) followed by 1.2568 (Nov 24 low). Initial resistance is now located at 1.3081 (Nov 25 low) at followed by 1.3116 (Nov 5 high)

· Yen – 95.55

Initial support is located at 94.94 (Nov 24 low) followed by 93.62 (Nov 20 low). Initial resistance is now at 97.43 (Nov 25 high) followed by 97.55 (Nov 17 high).

· Pound – 1.5335

Initial support at 1.4984 (Nov 25 low) followed by 1.4841 (Nov 24 low). Initial resistance is now at 1.5500 (Key level) followed by 1.5535 (Nov 25 high).

· Australian Dollar – 0.6500

Initial support at 0.6298 (76.4% retrace 0.7015 to 0.6076) followed by the 0.6232 (Nov 24 low). Initial resistance is now at 0.6618 (Nov 25 high) followed by 0.6696 (Nov 14 high).

· Gold – 810

Initial support at 786 (Nov 24 low) followed by 743 (Nov 21 low). Initial resistance is now at 856 (Oct 15 high) followed by 871 (Oct 13).

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Product Details

The Snowball: Warren Buffett and the Business of Life By Alice Schroeder List Price: $35.00 Price: $21.00 & eligible for FREE Super Saver Shipping on orders over $25. Details Availability: Usually ships in 24 hours Ships from and sold by Amazon.com 79 new or used available from $16.99 Average customer review:

Product Description

Here is THE book recounting the life and times of one of the most respected men in the world, Warren Buffett. The legendary Omaha investor has never written a memoir, but now he has allowed one writer, Alice Schroeder, unprecedented access to explore directly with him and with those closest to him his work, opinions, struggles, triumphs, follies, and wisdom. The result is the personally revealing and complete biography of the man known everywhere as “The Oracle of Omaha.” continued description

c Daily Forex Updates 2008

Daily Forex Update: Nov 26 2008

FOREX Daily Outlook by Easy-Forex.com

Fed Unveils $800B Consumer Loan Program

CURRENCY TRADING SUMMARY – 26th November 2008 (00:30GMT)

· U.S. Dollar Trading (USD) came under pressure after details emerged of a new FED program that will buy $800 billion in GSE mortgage backed debt and offer another $200 Billion in a new program designed to offer support to the consumer loan backed asset market. US shares reacted well and shrugged off the Q3 GDP numbers of -0.5%. Also released Consumer Confidence in November rose to 44.9 vs. 38 expected. In U.S. share markets, the NASDAQ was down 7 points (0.5%) and the Dow Jones was up 36 points (0.43%). Crude Oil closed down $3.73 ending the New York session at $50.77 per barrel. Looking ahead, October Durable Goods Orders are expected at -3% vs. +0.9% last month. Also released, October New Homes Sales expected to fall to 445K vs. 464K previously.

· The Euro (EUR) staged an aggressive rally on the back of USD selling after the new Fed plan was released. When the stock rally stalled EUR/JPY selling started to weigh on the single currency but still managed to close above 1.30. German GDP was confirmed at -0.5% in Q3 and Consumer Confidence beat expectations at 2.2 vs. 1.5 forecast. Overall the EUR/USD traded with a low of 1.2805 and a high of 1.3081 before closing the day at 1.3060.

· The Japanese Yen (JPY) had a mixed day gaining against the USD but losing ground against the EURO and GBP as there respective majors gained heavily. AUD/JPY also underperformed falling heavily from highs early in the day as commodities fell and equities stalled. Overall the USDJPY traded with a low of 94.96 and a high of 96.92 before closing the day around 95.20 in the New York session.

· The Sterling (GBP) extended the recovery envelope even after BoE’s King had very dovish things to day about the UK economy. King’s comment included the possibility of a severe recession looming in the UK. 1.5000 was tested before USD weakness lead to a massive rally up to 1.5500 highs. Overall the GDP/USD traded with a low of 1.4985 and a high of 1.5535 before closing the day at 1.5480 in the New York session.

· The Australian Dollar (AUD) rally came unstuck as selling above 65 emerged early in the Asian session. Less than expected gains from Asian equities pressure the AUD/JPY lower but as the EURO and GBP surged the AUD/USD got a second wind and 0.6600 was scaled for a brief moment before falling back to .6450 supports. Overall the AUD/USD traded with a low of 0.6333 and a high of 0.6617 before closing the US session at 0.6510.

· Gold (XAU) continued to be well supported although heavy falls in Oil kept gains into the $800’s limited. Overall trading with a low of USD$803 and high of USD$831 before ending the New York session at USD$821 an ounce.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.2568	1.2804	1.3020	1.3081	1.3116
USD/JPY	93.62	94.94	95.00	97.43	97.55
GBP/USD	1.1484	1.4984	1.5400	1.5500	1.5535
AUD/USD	0.6232	0.6298	0.6465	0.6618	0.6696
XAU/USD	743.00	786.00	813.00	856.59	871.00

· Euro – 1.3020

Initial support at 1.2804 (Nov 25 low) followed by 1.2568 (Nov 24 low). Initial resistance is now located at 1.3081 (Nov 25 low) at followed by 1.3116 (Nov 5 high)

· Yen – 95.00

Initial support is located at 94.94 (Nov 24 low) followed by 93.62 (Nov 20 low). Initial resistance is now at 97.43 (Nov 25 high) followed by 97.55 (Nov 17 high).

· Pound – 1.5400

Initial support at 1.4984 (Nov 25 low) followed by 1.4841 (Nov 24 low). Initial resistance is now at 1.5500 (Key level) followed by 1.5535 (Nov 25 high).

· Australian Dollar – 0.6465

Initial support at 0.6298 (76.4% retrace 0.7015 to 0.6076) followed by the 0.6232 (Nov 24 low). Initial resistance is now at 0.6618 (Nov 25 high) followed by 0.6696 (Nov 14 high).

· Gold – 813

Initial support at 786 (Nov 24 low) followed by 743 (Nov 21 low). Initial resistance is now at 856 (Oct 15 high) followed by 871 (Oct 13).

Forex trading involves substantial risk of loss, and may not be suitable for everyone.

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Currency Trading For Dummies (For Dummies (... by Mark Galant $16.49	The Complete Guide to Currency Trading &amp... by Jamaine Burrell $16.47	Forex Patterns & Probabilities: Trading... by Ed Ponsi $53.5

Product Details

The Snowball: Warren Buffett and the Business of Life By Alice Schroeder List Price: $35.00 Price: $21.00 & eligible for FREE Super Saver Shipping on orders over $25. Details Availability: Usually ships in 24 hours Ships from and sold by Amazon.com 79 new or used available from $16.99 Average customer review:

Product Description

Here is THE book recounting the life and times of one of the most respected men in the world, Warren Buffett. The legendary Omaha investor has never written a memoir, but now he has allowed one writer, Alice Schroeder, unprecedented access to explore directly with him and with those closest to him his work, opinions, struggles, triumphs, follies, and wisdom. The result is the personally revealing and complete biography of the man known everywhere as “The Oracle of Omaha.” continued description

c Daily Forex Updates 2008

Daily Forex Update: Nov 25 2008

FOREX Daily Outlook by Easy-Forex.com

Citigroup Bailout stirs another stock market rally

CURRENCY TRADING SUMMARY – 25th November 2008 (00:30GMT)

· U.S. Dollar Trading (USD) weakened broadly as the market enjoyed a second day of good stock markets gains. News that Citigroup would be receiving a US20bn capital injection sent that stock up 60%. The Govt. will also guarantee US306bn of property backed assets. In other news, October Existing Home sales fell -3.1% vs. 5.5% previous with 4.98 Mln units sold. The USD suffered as commodities surged and safe haven flows stalled. In U.S. share markets, the NASDAQ was up 87.67 points (6.33%) and the Dow Jones was up 396 points (4.93%). Crude Oil closed up $4.57 ending the New York session at $54.50 per barrel. Looking ahead, Q3 GDP expected at -0.5% vs. -0.3% previously. Also released CB Consumer confidence seen at 37.9 in November.

· The Euro (EUR) rallied all day shrugging off poor economic data as stocks surged around the world. The November IFO slumped to 77.6 vs. 81 forecast. September Industrial orders missed at -3.9% vs. -3% expected. Aggressive EUR/JPY buying helped to underpin the Euros move above resistance at 1.28. Overall the EUR/USD traded with a low of 1.2566 and a high of 1.2959 before closing the day at 1.2545 in the New York session. Looking ahead, September Industrial Orders are seen down -3% vs. -1.2% previously. Also released, Q3 German GDP expected at -0.5% and German Consumer Confidence expected at 1.5 vs. 1.9 previously.

· The Japanese Yen (JPY) was the weakest currency last night as traders risk appetite surged with stocks. Carry trades benefited with AUD/JPY and EUR/JPY outperforming gaining over 5% each. The Yen has been the biggest gainer in recent months so there is a lot of room to weaken if the market can recover. Overall the USDJPY traded with a low of 94.96 and a high of 97.42 before closing the day around 997.10 in the New York session.

· The Sterling (GBP) broke above 1.5000 as risk sentiment improved and the heavily battered pound received some buying interest. The gains were still less than the market in general and EUR/GBP continued to gain. Some focus on the UK Governments plan to stimulate the economy with the budget released yesterday. Overall the GDP/USD traded with a low of 1.4845 and a high of 1.5188 before closing the day at 1.5160 in the New York session.

· The Australian Dollar (AUD) surged for a second day after Citigroup news was digested through the markets. The Large rally in commodities lead by Oil helped to underpin the moves higher. Market is already looking to next months RBA meeting and speculating on the size of the rate cut coming. Overall the AUD/USD traded with a low of 0.6233 and a high of 0.6553 before closing the US session at 0.6520.

· Gold (XAU) broke and closed above $800 a barrel in a continuation of the breakout of the 700-760 range. Helping to underpin the move was USD weakness and Oil Strength. Overall trading with a low of USD$786 and high of USD$829 before ending the New York session at USD$815 an ounce.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.2425	1.2563	1.2915	1.2930	1.2950
USD/JPY	93.62	94.94	96.85	97.02	97.55
GBP/USD	1.4713	1.4841	1.5145	1.5249	1.5267
AUD/USD	0.6076	0.6232	0.6495	0.6546	0.6596
XAU/USD	743.00	786.00	817.00	829.00	856.00

· Euro – 1.2915

Initial support at 1.2563 (Nov 24 low) followed by 1.2425 (Nov 21 low). Initial resistance is now located at 1.2930 (Nov 10 low) at followed by 1.3116 (Nov 19 high)

· Yen – 96.85

Initial support is located at 94.94 (Nov 24 low) followed by 93.62 (Nov 20 low). Initial resistance is now at 97.02 (Nov 24 high) followed by 97.55 (Nov 17 high).

· Pound – 1.5145

Initial support at 1.4841 (Nov 24 low) followed by 1.4713 (Nov 20 low). Initial resistance is now at 1.5249 (Nov 19 high) followed by 1.5267 (October 24 key level).

· Australian Dollar – 0.6495

Initial support at 0.6232 (Nov 24 low) followed by the 0.6076 (Nov 20 low). Initial resistance is now at 0.6546 (50% retrace 0.7015 to 0.6076) followed by 0.6597 (Nov 17 high).

· Gold – 817

Initial support at 78 (Nov 24 low) followed by 743 (Nov 21 low). Initial resistance is now at 829 (Nov 24 high) followed by 856 (Oct 15).

Forex trading involves substantial risk of loss, and may not be suitable for everyone.

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c Daily Forex Updates 2008

Daily Forex Update: Nov 24 2008

FOREX Daily Outlook by Easy-Forex.com

Obama’s New Economic Plan Stokes Rally

CURRENCY TRADING SUMMARY – 24th November 2008 (00:30GMT)

· U.S. Dollar Trading (USD) was weakened by a reversal in market mood late on Friday as stocks across the world rallied and investor fears eased. The announcement of Tim Geithner was generally seen as positive by the market. Also helping sentiment was speculation that a new stimulus plan would be in place by the time Obama takes the Presidency. In U.S. share markets, the NASDAQ was up 68.23 points (5.18%) and the Dow Jones was up 494 points (6.54%). Crude Oil closed up $0.51 ending the New York session at $49.93 per barrel. Looking ahead, October Home Sales are expected at 5.05Mln vs. 5.18Mln previously.

· The Euro (EUR) finished stronger although it was a wild ride as US stocks experienced a rollercoaster session to end much higher. Eurozone Data continued to deteriorate with Manufacturing PMI falling to 36.2 in November vs. 40.5. Services PMI fell to 43.3 vs. 45.0 indicating a sharp slowdown in Economic Activity. Overall the EUR/USD traded with a low of 1.2423 and a high of 1.2625 before closing the day at 1.25 in the New York session. Looking ahead, September Industrial Orders are seen down -3% vs. -1.2% previously. Also released, the German IFO Index for November expected at 81 vs. 81.4 previously.

· The Japanese Yen (JPY) gave up a lot of strength as Asian stocks reversed losses from the dreadful US session on Thursday night and actually turned positive in most of the cases. The mood of the market has been playing a large role in Yen trading lately and AUD/JPY has been seen as a good risk barometer of the market. Overall the USDJPY traded with a low of 93.67 and a high of 95.98 before closing the day around 95.93 in the New York session.

· The Sterling (GBP) Ended up but off its highs as the market sold the pound as US stocks initially weakened before recovering as stocks rallied into the close. Rallies are proving short-lived as the battered currency is still viewed as very weak going forward. Pressure is on the government to provide an economic stimulus package to prop up the economy. Overall the GDP/USD traded with a low of 1.4714 and a high of 1.5060 before closing the day at 1.4869 in the New York session.

· The Australian Dollar (AUD) was a heavy gainer after finding a floor in Asia. The AUD grinded higher all day to finish back above 0.6300. Support was seen coming from large gains in AUD/JPY and the major rally seen in gold. Overall the AUD/USD traded with a low of 0.6078 and a high of 0.6302 before closing the US session at 0.6301.

· Gold (XAU) rallied over 5% on the back of physical demand for the precious metal as investors sought the long term safety granted by gold. Overall trading with a low of USD$743.74 and high of USD$802 before ending the New York session at USD$800 an ounce.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.2389	1.2425	1.2615	1.2638	1.2814
USD/JPY	93.20	93.62	95.20	96.23	97.55
GBP/USD	1.4647	1.4713	1.4895	1.5060	1.5249
AUD/USD	0.6009	0.6077	0.6260	0.6315	0.6416
XAU/USD	700.00	725.40	795.00	801.00	810.00

· Euro – 1.2615

Initial support at 1.2425 (Nov 21 low) followed by 1.2389 (Nov 13 low). Initial resistance is now located at 1.2638 (Nov 21 low) at followed by 1.2814 (Nov 19 high)

· Yen – 95.20

Initial support is located at 93.62 (Nov 20 low) followed by 93.20 (Nov 12 low). Initial resistance is now at 96.23 (Nov 20 high) followed by 97.55 (Nov 13 high).

· Pound – 1.4895

Initial support at 1.4713 (Nov 20 low) followed by 1.4647 (Nov 17 low). Initial resistance is now at 1.5060 (Nov 21 high) followed by 1.5249 (Nov 19).

· Australian Dollar – 0.6260

Initial support at 0.6077 (Nov 20 low) followed by the 0.6009 (Oct 27 low). Initial resistance is now at 0.6315 (Nov 21 high) followed by 0.6416 (Nov 20 high).

· Gold – 795

Initial support at 725.40 (Nov 14 low) followed by 700 (Nov 13 low). Initial resistance is now at 801 (Nov 21 high) followed by 810 (Key level).

Forex trading involves substantial risk of loss, and may not be suitable for everyone.

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The Snowball: Warren Buffett and the Business of Life by Alice Schroeder
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c Daily Forex Updates 2008

Daily Forex Update: Nov 21 2008

FOREX Daily Outlook by Easy-Forex.com

US stocks extend slump, USD extends rally

CURRENCY TRADING SUMMARY – 21st November 2008 (00:30GMT)

· U.S. Dollar Trading (USD) strengthened on the back of rising risk aversion as stocks came under severe selling pressure. New 11 ½ year lows on the S&P were seen as concerns about the looming recession weighed. Weekly Jobless Claims jumped to 542K vs. 505K expected. Also released Philadelphia Fed in November seen at -39.3 vs. -35 expected. Adding to USD strength was the large slump in Oil below the critical $50 a barrel support. In U.S. share markets, the NASDAQ was down 70 points (-5.07%) and the Dow Jones was down 444 points (-5.56%). Crude Oil closed down -$4.45 ending the New York session at $49.65 per barrel.

· The Euro (EUR) held to a tight range as traders concentrated on other currencies that offered more action. 1.2500 has proven a key level that the Euro has gravitated around. Large falls in Oil and stocks finally forced the pair lower into the US close. Overall the EUR/USD traded with a low of 1.2475 and a high of 1.2812 before closing the day at 1.2480 in the New York session. Looking ahead, November Germany PMI Services is expected to fall to 47.5 vs. 48.3.

· The Japanese Yen (JPY) strengthened against the USD/JPY as the US stocks hit multi year lows and risk aversion continued to dominate trading. AUD/JPY and GBP/JPY weakened over 5% and remained of a very weak footing going into Asia. Traders are still wary of any Bank of Japan Yen selling to stem the rapid rise. Overall the USDJPY traded with a low of 95.59 and a high of 97.09 before closing the day around 95.80 in the New York session. Looking Ahead, BOJ rate Decision widely expected to remain on hold.

· The Sterling (GBP) Extended losses below 1.50 as Oil dropped below $50 a barrel. The market is still extremely bearish on the UK economy which combined with fresh stock weakness undermined the already fragile support. October Retails Sales beat expectations at -0.1% vs. -0.9% forecast. Overall the GDP/USD traded with a low of 1.4716 and a high of 1.4993 before closing the day at 1.4770 in the New York session.

· The Australian Dollar (AUD) came under severe pressure after the Key level that was twice supported by the Reserve Bank of Australia at .6350 broke. The Pair quickly fell to lows of 0.6200 and as commodities slid the AUD continued to be pummeled. As US stocks Crashed the near perfect storm took AUD another leg lower under 0.6100 and close to the year lows at .6010. AUD/JPY was a major catalyst in the move lower as it broke key support at 60 Yen. Overall the AUD/USD traded with a low of 0.6077 and a high of 0.6415 before closing the US session at 0.6100.

· Gold (XAU) struggled for direction as safe haven buying of the precious metal was countered by falling commodities. Overall trading with a low of USD$735.30 and high of USD$752.80 before ending the New York session at USD$746 an ounce.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.2389	1.2435	1.2445	1.2564	1.2814
USD/JPY	93.20	93.62	94.00	96.23	97.55
GBP/USD	1.4647	1.4713	1.4750	1.4994	1.5249
AUD/USD	0.6009	0.6077	0.6110	0.6416	0.6596
XAU/USD	700.00	725.40	744.00	762.00	768.21

· Euro – 1.2445

Initial support at 1.2435 (Nov 20 low) followed by 1.2389 (Nov 13 low). Initial resistance is now located at 1.2564 (Nov 20 high) at followed by 1.2814 (Nov 19 high)

· Yen – 94.00

Initial support is located at 93.62 (Nov 20 low) followed by 93.2 (Nov 12 low). Initial resistance is now at 96.23 (Nov 20 high) followed by 97.55 (Nov 17 high).

· Pound – 1.4750

Initial support at 1.4713 (Nov 20 low) followed by 1.4647 (Nov 17 low). Initial resistance is now at 1.4994 (Nov 20 high) followed by 1.5249 (Nov 19 high).

· Australian Dollar – 0.6110

Initial support at 0.6077 (Nov 19 low) followed by the 0.6009 (Oct 27 low). Initial resistance is now at 0.6416 (Nov 20 high) followed by 0.6596 (Nov 14 high).

· Gold – 737

Initial support at 725.40 (Nov 14 low) followed by 700 (Nov 13 low). Initial resistance is now at 762 (Nov 19 high) followed by 768.21 (Nov 10 high).

Forex trading involves substantial risk of loss, and may not be suitable for everyone.

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c Daily Forex Updates 2008

Daily Forex Update: Nov 20 2008

FOREX Daily Outlook by Easy-Forex.com

FOMC Minutes show US rate cuts may continue

CURRENCY TRADING SUMMARY – 20th November 2008 (00:30GMT)

· U.S. Dollar Trading (USD) rallied late in the day as US equities weakened considerable into the US close. 8000 was once again tested on the Dow and the market closed close to this level as Citibank slumped and concerns over GM and Jobs rattled investors. October CPI dropped -0.8% vs. 0.0 expected. Also released October Housing starts were slightly better than expected at 791K vs. 780K forecast but still very weak. Also released the FOMC minutes from the last meeting showed that some members are still open to further rate cuts. In U.S. share markets, the NASDAQ was down 96.85 points (-6.53%) and the Dow Jones was down 427.47 points (-5.07%). Crude Oil closed down -$0.77 ending the New York session at $54.25 per barrel. Looking ahead, Weekly Jobless claims are seen at 505K vs. 516K last week. Also released Philadelphia Fed is seen down at -35 vs. -37.5.

· The Euro (EUR) traded in an extremely volatile manner following the equities markets closely. After some poor data out from the US the Euro surges to resistance at 1.28 before falling back to 1.25 as US stocks fell heavily. Large EUR/JPY selling weighed going into the close. Overall the EUR/USD traded with a low of 1.2475 and a high of 1.2813 before closing the day at 1.2515 in the New York session. Looking ahead, German PPI is expected to fall -0.6% in October.

· The Japanese Yen (JPY) gained heavily as risk aversion spiked through the roof on concerns Citibank is under pressure and may need, the market sent the companies shares 23% lower and the Dow below 8000. Strong support is expected towards 95 with market wary of any BoJ buying to support the USD/JPY. Crosses were very week giving up day gains and some more on the stock losses. Overall the USDJPY traded with a low of 95.59 and a high of 97.09 before closing the day around 95.80 in the New York session. UPDATE Trade Balance in October turned negative surprising forecasts at -63.9 Bn vs. +80 Bn.

· The Sterling (GBP) had a very interesting day with heavy middle eastern buying early in the day pushing the recovery up to 1.5250 before crashing back to below 1.5000 as US stocks extended their losses into the close. UK data beat expectations with CBI trends at -38 beating -41 expected. Overall the GDP/USD traded with a low of 1.4905 and a high of 1.5248 before closing the day at 1.4960 in the New York session. Looking ahead, October Retails Sales are seen -0.9% in October vs. -0.4% last month.

· The Australian Dollar (AUD) tracked the majors, recovering all day until fresh US stock losses force the AUD to new lows on the day back towards the .6350 support level were the RBA has been seen buying to help add liquidity to the market. Oil continues to make new lows and this is undermining the commodity complex. Overall the AUD/USD traded with a low of 0.6362 and a high of 0.6595 before closing the US session at 0.6400.

· Gold (XAU) rose with the majors before falling sharply as the USD regained strength. Gold have been trading in a range between 700 and 760 for 3 week now. Falling Oil is undermining support. Overall trading with a low of USD$731.65 and high of USD$748.95 before ending the New York session at USD$738 an ounce.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.2389	1.2513	1.2515	1.2814	1.2855
USD/JPY	94.48	95.67	95.80	97.55	98.19
GBP/USD	1.4647	1.4901	1.4980	1.5249	1.5366
AUD/USD	0.6339	0.6362	0.6390	0.6596	0.6696
XAU/USD	700.00	725.40	737.00	762.00	768.21

· Euro – 1.2515

Initial support at 1.2513 (Nov 19 low) followed by 1.2389 (Nov 13 low). Initial resistance is now located at 1.2814 (Nov 19 low) at followed by 1.2855 (Nov 13 high)

· Yen – 95.80

Initial support is located at 95.67 (Nov 18 low) followed by 94.48 (Nov 12 low). Initial resistance is now at 97.55 (Nov 17 high) followed by 98.19 (Nov 13 high).

· Pound – 1.4980

Initial support at 1.4901 (Nov 18 low) followed by 1.4647 (Nov 17 low). Initial resistance is now at 1.5249 (Nov 17 high) followed by 1.5366 (38.2% retrace 1.6672 to 1.4558).

· Australian Dollar – 0.6390

Initial support at 0.6362 (Nov 19 low) followed by the 0.6339 (Oct 29 low). Initial resistance is now at 0.6596 (Nov 17 high) followed by 0.6696 (Nov 14 high).

· Gold – 737

Initial support at 725.40 (Nov 14 low) followed by 700 (Nov 13 low). Initial resistance is now at 762 (Nov 19 high) followed by 768.21 (Nov 10 high).

Forex trading involves substantial risk of loss, and may not be suitable for everyone.

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c Daily Forex Updates 2008

Daily Forex Update: Nov 18 2008

FOREX Daily Outlook by Easy-Forex.com

Citibank to Cut 50 000 Jobs, Economic Worries Persist

CURRENCY TRADING SUMMARY – 18th November 2008 (00:30GMT)

· U.S. Dollar Trading (USD) was broadly weaker as most majors led by the Pound were able to rebound as US stocks initially rallied. Ongoing Economic concerns and fears of a deep recession lead to a late sell off and Dollar losses were pared. Supporting the USD was ongoing commodity weakness. October Industrial Production surprised to the upside recovering from a -2.8% plunge last month to post a +1.3% rise. In U.S. share markets, the NASDAQ was down 34.8 points (-2.29%) and the Dow Jones was down 223.73 points (-2.63%). Crude Oil closed down $2.09 ending the New York session at $54.95 per barrel. Looking ahead, October PPI is seen falling -1.8% m/m vs. -0.4% previously.

· The Euro (EUR) was generally well supported during the Asian and European sessions, extending these gains as US stocks turned positive. The late Dow sell off pared gains but the pair was still well supported at 1.2650. EUR/GBP was one pair that gave up a lot of ground as the market bought the beaten down pound. The September EU trade balance expectations coming at -5.6Bn vs. -7.3Bn forecast. Overall the EUR/USD traded with a low of 1.2515 and a high of 1.2741 before closing the day at 1.2650 in the New York session.

· The Japanese Yen (JPY) initially supported as the market opened after the G20 meeting over the weekend. The meeting was viewed as rather underwhelming response to the market crisis. As Asian stocks turned around most crosses and USD/JPY steadily rose. Overall the USDJPY traded with a low of 96.04 and a high of 97.54 before closing the day around 96.70 in the New York session.

· The Sterling (GBP) rebounded most of the day as the buyers swooped on levels not seen since 2003 and technically was oversold. The bearish backdrop of the UK economy continues to cast a dark shadow on the Pound as it struggled past 1.5000. EUR/GBP selling helped to underpin the gains. Overall the GDP/USD traded with a low of 1.4661 and a high of 1.45081 before closing the day at 1.5000 in the New York session. Looking ahead, October CPI is seen at 0.1% vs. 0.5% previously.

· The Australian Dollar (AUD) was relatively buoyant after a steep sell off at the open as Asian stocks lifted off lows. Q3 Retail Sales were weak at 0.1% vs. 0.5% forecast. Capping gains were weak commodities and a late Dow sell off. Traders are weary of speculation that the RBA is buying around the 0.6350 area and this is helping to dampen speculator interest to the downside. Overall the AUD/USD traded with a low of 0.6382 and a high of 0.6597 before closing the US session at 0.6490. Looking ahead, RBA Minutes are released today from the November Meeting in which they cut 0.75%.

· Gold (XAU) was on the back foot as Oil continued to slide. The market is unsure of the future direction with predictions varying from $600 to $1200 an ounce over the next year. Overall trading with a low of USD$731.65 and high of USD$748.95 before ending the New York session at USD$738 an ounce.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.2389	1.2513	1.2650	1.2742	1.2855
USD/JPY	94.48	95.88	96.45	97.55	98.19
GBP/USD	1.4558	1.4647	1.5000	1.5083	1.5366
AUD/USD	0.6246	0.6339	0.6510	0.6596	0.6696
XAU/USD	700.00	725.40	737.00	754.55	768.21

· Euro – 1.2650

Initial support at 1.2513 (Nov 17 low) followed by 1.2389 (Nov 13 low). Initial resistance is now located at 1.2742 (Nov 17 low) at followed by 1.2855 (Nov 13 high)

· Yen – 96.45

Initial support is located at 95.88 (Nov 17 low) followed by 94.48 (Nov 12 low). Initial resistance is now at 97.55 (Nov 17 high) followed by 98.19 (Nov 13 high).

· Pound – 1.5000

Initial support at 1.4647 (Nov 17 low) followed by 1.4558 (Nov 13 low). Initial resistance is now at 1.5083 (Nov 17 high) followed by 1.5366 (38.2% retrace 1.6672 to 1.4558).

· Australian Dollar – 0.6510

Initial support at 0.6339 (Oct 29 low) followed by the 0.6246 (76.4% retracement of 0.6009-0.7015 rally). Initial resistance is now at 0.6596 (Nov 17 high) followed by 0.6696 (Nov 14 high).

· Gold – 737

Initial support at 725.40 (Nov 14 low) followed by 700 (Nov 13 low). Initial resistance is now at 754.55 (Nov 14 high) followed by 768.21 (Nov 10 high).

Forex trading involves substantial risk of loss, and may not be suitable for everyone.

Click here to visit Easy-Forex.com

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Daily Forex Update: Nov 17 2008

FOREX Daily Outlook by Easy-Forex.com

Weak US retail Sales Hurt Market Sentiment

CURRENCY TRADING SUMMARY – 17th November 2008 (00:30GMT)

· U.S. Dollar Trading (USD) was strong heading into the weekend as US stocks ended very weak on the back of slumping Retail Sales. October Retail Sales were worse than expected at -2.8% vs. -2.0%m/m. The USD is currently benefiting from the market turmoil as investors demand for the worlds reserve currency is significantly boosted. Also released on Friday, November UoM Consumer Sentiment which rose slightly to 57.9 from 57.6 previously. In U.S. share markets, the NASDAQ was down 79 points (-5.00%) and the Dow Jones was down 337 points (-3.82%). Crude Oil closed down $1.20 ending the New York session at $57.04 per barrel. Looking ahead, October Industrial Output seen at 0.2% vs. -2.8%.

· The Euro (EUR) was hurt by the confirmation of a Eurozone recession with Q3 GDP at -0.2%. Also confirmed the EU CPI in October at 3.2% Y/Y rate. The EUR/USD was sold off late in the US session as stocks slumped into the close but had climbed for most the day on the back of weak US data. Overall the EUR/USD traded with a low of 1.2613 and a high of 1.2825 before closing the day at 1.2690 in the New York session. Looking ahead, EU trade is seen at -7.3 Bn in September.

· The Japanese Yen (JPY) gave up most of Thursdays gains as the market paired stock gains into the weekend ahead of the G20 meeting over the weekend. The late Dow selloff sent most of the crosses to near day lows. Overall the USDJPY traded with a low of 96.10 and a high of 98.08 before closing the day around 97.10 in the New York session. Looking Ahead, preliminary Q3 GDP seen at 0.1% vs. -0.7% previously. Update Q3 GDP released at -0.1%

· The Sterling (GBP) continued to be extremely well offered with the pair losing ground as the UK faces a near certain recession. Concerns over the plummeting Pound has lead to comments over the weekend from Shadow Chancellor Osborne that he fears a run on the Pound. PM Brown has dismissed the comments, countering that the UK public debt is still not as highs as some European countries. Overall the GDP/USD traded with a low of 1.4661 and a high of 1.4956 before closing the day at 1.4790 in the New York session.

· The Australian Dollar (AUD) tracked Equities with the AUD falling steadily from the highs seen on Thursday. A brief rally was seen on poor US data until stock weakness late in the US session saw the Aussie back at lows. Overall the AUD/USD traded with a low of 0.6512 and a high of 0.6694 before closing the US session at 0.6540. Looking ahead, Q3 Retail Sales.

· Gold (XAU) gained after weak US data and remained supported as the market factored in more US rate cuts to stoke demand. Overall trading with a low of USD$725 and high of USD$755 before ending the New York session at USD$745 an ounce.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.2330	1.2389	1.2540	1.2855	1.2930
USD/JPY	93.20	94.48	95.95	98.19	99.48
GBP/USD	1.4393	1.4558	1.4660	1.4992	1.5481
AUD/USD	0.6246	0.6339	0.6375	0.6484	0.6696
XAU/USD	682.41	700.00	743.00	753.00	768.21

· Euro – 1.2540

Initial support at 1.2389 (Nov 13 low) followed by 1.2333 (Oct 28 low). Initial resistance is now located at 1.2855 (Nov 13 low) at followed by 1.2930 (Nov 10 high)

· Yen – 95.95

Initial support is located at 94.48 (Nov 12 low) followed by 93.20 (76.4% retracement of 90.92-100.57 rally). Initial resistance is now at 98.19 (Nov 13 high) followed by 99.48 (Nov 10 high).

· Pound – 1.4660

Initial support at 1.4558 (Nov 13 low) followed by 1.4393 (Range protection). Initial resistance is now at 1.4992 (Nov 14 high) followed by 1.5481 (Nov 12 high).

· Australian Dollar – 0.6375

Initial support at 0.6339 (Oct 29 low) followed by the 0.6246 (76.4% retracement of 0.6009-0.7015 rally). Initial resistance is now at 0.6484 (Nov 14 low) followed by 0.6696 (Nov 14 high).

· Gold – 743

Initial support at 700 (Nov 13 low) followed by 682 (Oct 24 low). Initial resistance is now at 753 (Nov 12 high) followed by 768.21 (Nov 10 high).

Forex trading involves substantial risk of loss, and may not be suitable for everyone.

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Daily Forex Update: Nov 14 2008

FOREX Daily Outlook by Easy-Forex.com

Late Dow Surge Reverse Mood and Direction

CURRENCY TRADING SUMMARY – 14th November 2008 (00:30GMT)

· U.S. Dollar Trading (USD) USD gave up a lot the strength at the end of the US session as the Dow Jones rallied over 900 points off lows. Weekly Jobless claims rose above 500K to 516K vs. 484K expected. Also Released September International Trade at -56Bn vs. -59Bn previously. The majors are tracking movement in US equities very closely so when the Dow dropped below 8000 the USD was at maximum strength. The U.S. share markets, the NASDAQ was up 97 points (6.50%) and the Dow Jones was up 552 points (6.67%). Crude Oil closed up $2.08 ending the New York session at $58.20 per barrel. Looking ahead, October Retails Sales are expected to fall -2% vs. -1.2% previously. Import Prices are expected to have fallen -4.2%. November University of Michigan Consumer Sentiment is expected at 56 vs. 57.6 previously.

· The Euro (EUR) had a very interesting trading day initially underwater and on a very weak footing below 1.2500. Germany was confirmed to be in recession with Q3 GDP seen at -0.5% vs. -0.4%. Initially the Euro was very weak after this data but as stocks surged higher so did the Euro which rallied above resistance at 1.2800. Overall the EUR/USD traded with a low of 1.2391 and a high of 1.2857 before closing the day at 1.2810 in the New York session. Looking ahead, October CPI is expected at -0.2% vs. -0.1%. Eurozone GDP is seen at -0.2% in Q3.

· The Japanese Yen (JPY) had another extremely volatile day as the markets mood turns from bleak to glee in the final hours of trading. USD/JPY traded over 3 big figures higher to the upside. The EUR/JPY and AUD/JPY were extremely buoyant. Focus will be on the G20 meeting over the weekend for the next direction in the Yen. Overall the USDJPY traded with a low of 94.82 and a high of 98.26 before closing the day around 97.80 in the New York session.

· The Sterling (GBP) broke with the normal correlations seen as sterling was unable to gain as Equities surged higher. The market has turned extremely bearish against the Pound lately and things are not likely to get better going forward unless things change considerably. Almost all currencies gained against the pound yesterday, especially its major trading partner in Europe which hit record levels above .8600. Overall the GDP/USD traded with a low of 1.4561 and a high of 1.4991 before closing the day at 1.4902 in the New York session.

· The Australian Dollar (AUD) rallied nearly all day as traders were very tentative about testing below .6350 as the Reserve bank of Australia was reportedly on the bid down there. Liquidity is still very low and moves are exaggerated. Commodities rebounded and this helped to underpin the move higher late in the US session. Overall the AUD/USD traded with a low of 0.6341 and a high of 0.6694 before closing the US session at 0.6650.

· Gold (XAU) Climbed as Oil jumped higher but is not as precious as it use to be in a world seen heading into a low inflationary state. Overall trading with a low of USD$702.25 and high of USD$739.55 before ending the New York session at USD$736 an ounce.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.2230	1.2438	1.2745	1.2855	1.2930
USD/JPY	93.20	94.48	97.15	98.08	99.48
GBP/USD	1.4393	1.4558	1.4820	1.4992	1.5481
AUD/USD	0.6246	0.6339	0.6590	0.6758	0.6986
XAU/USD	682.41	700.00	729.00	739.17	750.45

· Euro – 1.2745

Initial support at 1.2438 (Nov 13 low) followed by 1.2333 (Oct 28 low). Initial resistance is now located at 1.2855 (Nov 13 low) at followed by 1.2930 (Nov 10 high)

· Yen – 97.15

Initial support is located at 94.48 (Nov 12 low) followed by 93.20 (76.4% retracement of 90.92-100.57 rally). Initial resistance is now at 98.08 (Nov 12 high) followed by 99.48 (Nov 10 high).

· Pound – 1.4820

Initial support at 1.4558 (Nov 13 low) followed by 1.4393 (Range protection). Initial resistance is now at 1.4992 (Nov 1 high) followed by 1.5481 (Nov 12 high).

· Australian Dollar – 0.6590

Initial support at 0.6339 (Oct 29 low) followed by the 0.6246 (76.4% retracement of 0.6009-0.7015 rally). Initial resistance is now at 0.6758 (Nov 11 high) followed by 0.6986 (Nov 10 high).

· Gold – 729

Initial support at 700 (Nov 13 low) followed by 682 (Oct 24 low). Initial resistance is now at 739 (Nov 12 high) followed by 750.45 (Nov 11 high).

Forex trading involves substantial risk of loss, and may not be suitable for everyone.

Click here to visit Easy-Forex.com

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Daily Forex Update: Nov 13 2008

FOREX Daily Outlook by Easy-Forex.com

Paulson changes Bailout Plan, Market Crashes

CURRENCY TRADING SUMMARY – 13th November 2008 (00:30GMT)

· U.S. Dollar Trading (USD) gained heavily against the higher yielding currencies as US stocks spiraled lower for the third day as the Treasury announced changes to the $700 Billion Bailout plan. The modifications were to buy less troubled assets and instead invest in consumer credit availability. Auto-makers were also ignored in this plans new direction. In the U.S. share markets, the NASDAQ was down -81 points (-5.17%) and the Dow Jones was down -411 points (-4.73%). Crude Oil closed down $3.17 ending the New York session at $56.16 per barrel. Looking ahead, weekly jobless claims are expected 484K vs. 481K previously. Also released September Trade Balance expected at -57Bn vs. -59Bn previously.

· The Euro (EUR) held up remarkable well considering the USD strength and massive losses seen in other currencies around the world. The 1.2500 proved a strong and stable support with looks below being repelled on multiple occasions throughout the day. With US stocks ending very weak and Oil falling over $3 a barrel the Euro is on weak footing heading into Asia. September Industrial output weakened to -1.6% vs. -1.3% expected. Overall the EUR/USD traded with a low of 1.2439 and a high of 1.2631 before closing the day at 1.2510 in the New York session. Looking ahead, German Q3 GDP is expected -0.2% vs. -0.5% previously.

· The Japanese Yen (JPY) was the strongest currency yesterday as investors rushed out of carry trades. USD/JPY finally gave up ground when support at .9700 was broken. As US stocks extended losses the Yen continued to strengthen especially against the GBP and AUD. Overall the USDJPY traded with a low of 94.50 and a high of 98.06 before closing the day around 95.40 in the New York session. Update October Corporate Goods Price at -1.6%.

· The Sterling (GBP) was the weakest currency yesterday as Claimant Count Change remained at high levels of 36.5K in October and Governor King talked of Recession and possible deflation in the UK. Slowing Inflation has opened up the door for more aggressive rate cuts going forward. EUR/GBP reach new record levels above .83 as GBP losses outpaced the Euro. Overall the GDP/USD traded with a low of 1.4835 and a high of 1.5482 before closing the day at 1.4920 in the New York session.

· The Australian Dollar (AUD) broke below support at .6500 as equity and Oil losses mounted. RBA buying at the lows of .6350 was confirmed by the bank and this helped to cap losses. AUD/JPY was under severe pressure as risk aversion soared. Overall the AUD/USD traded with a low of 0.6350 and a high of 0.6662 before closing the US session at 0.6380.

· Gold (XAU) fell inline with Oil for a second day head as traders liquidated all commodities. Overall trading with a low of USD$709.9 and high of USD$738.75 before ending the New York session at USD$712 an ounce.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.2134	1.2330	1.2465	1.2468	1.2800
USD/JPY	93.20	94.48	95.70	98.08	99.48
GBP/USD	1.4842	1.4895	1.4915	1.5481	1.5702
AUD/USD	0.6246	0.6339	0.6405	0.6663	0.6758
XAU/USD	707.00	710.00	713.00	750.00	770.00

· Euro – 1.2465

Initial support at 1.2330 (Oct 28 low) followed by 1.2134 (50% retracement of 0.8229-1.6038 major rally). Initial resistance is now located at 1.2468 (Nov 12 low) at followed by 1.2800 (Nov 11 high)

· Yen – 95.70

Initial support is located at 94.48 (Nov 12 low) followed by 93.20 (76.4% retracement of 90.92-100.57 rally). Initial resistance is now at 98.08 (Nov 12 high) followed by 99.48 (Nov 10 high).

· Pound – 1.4915

Initial support at 1.4895 (Nov low) followed by 1.4842 (Oct 2001 high). Initial resistance is now at 1.5481 (Nov 12 high) followed by 1.5703 (Nov 11 high).

· Australian Dollar – 0.6405

Initial support at 0.6339 (Oct 29 low) followed by the 0.6246 (76.4% retracement of 0.6009-0.7015 rally). Initial resistance is now at 0.6663 (Nov 1 high) followed by 0.6758 (Nov 11 high).

· Gold – 713

Initial support at 710 (Nov 12 low) followed by 707.5 (Oct 27 low). Initial resistance is now at 750 (Nov 11 high) followed by 770 (Nov 5 high).

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Daily Forex Update: Nov 12 2008

FOREX Daily Outlook by Easy-Forex.com

Concerns over US consumers weigh on Stocks

CURRENCY TRADING SUMMARY – 12th November 2008 (00:30GMT)

· U.S. Dollar Trading (USD) found strength in adversity gaining against most currencies on the back of increased risk aversion. Safe haven flows and deleveraging continued to offer strong short term support for the USD. News that GM would need a bailout before the end of the year left stocks very weak. Also of note was a new Home borrower plan launched by Fannie and Freddie to stem foreclosures. In the U.S. share markets, the NASDAQ was down 35 points (-2.22%) and the Dow Jones was down 176 points (-1.99%). Crude Oil closed down $59.33 ending the New York session at $59.33 per barrel.

· The Euro (EUR) fell heavily after Oil broke below $60 a barrel and US stocks slumped. Support at 1.27 gave way and the Euro slumped to the next key level at 1.25. The German ZEW economic survey beat expectations at -53.5 vs. -62 expected. Weak stocks lead to pressure via heavy EUR/JPY selling. Overall the EUR/USD traded with a low of 1.2509 and a high of 1.2799 before closing the day at 1.2540 in the New York session. Looking ahead, September Industrial Output are seen -1.3% and Orders -0.9%.

· The Japanese Yen (JPY) was a big gainer against most currencies as risk aversion notched another level higher. Gains against USD/JPY were limited as USD strength and Japanese investment demand kept the downside contained. AUD/JPY and EUR/JPY came under pressure. Overall the USDJPY traded with a low of 97.33 and a high of 98.28 before closing the day around 97.60 in the New York session.

· The Sterling (GBP) came under severe pressure as EUR/GBP pushed for record highs above .8200. USD strength and comments from PM Brown on unfunded UK stimulus plan comments weighed. The Break below 1.55 opens up year lows at 1.5250 and the key downside target of 1.5000. Overall the GDP/USD traded with a low of 1.5354 and a high of 1.5702 before closing the day at 1.5380 in the New York session. Looking ahead, October Claimant Count is expected at 40K vs. 31.8 and the September ILO Unemployment Rate is expected at 5.8% vs. 5.7% previously.

· The Australian Dollar (AUD) weighed down by multiple negative factors. Business confidence fell by the most in its 19 year history to -29. Commodities fell heavily throughout the day and risk aversion also spiked on heavy stock falls. AUD/JPY selling dragged the Aussie lower against the USD but other crosses held up relatively well. Overall the AUD/USD traded with a low of 0.6478 and a high of 0.6755 before closing the US session at 0.6555. UPDATE Westpac Consumer Confidence gains 4.3% in November

· Gold (XAU) fell inline with Oil as investors liquidated the precious metal for cash demands. Overall trading with a low of USD$727.70 and high of USD$750.05 before ending the New York session at USD$732 an ounce.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.2134	1.2330	1.2505	1.2800	1.2956
USD/JPY	96.36	96.77	97.25	99.48	99.92
GBP/USD	1.5000	1.5269	1.5350	1.5402	1.5702
AUD/USD	0.6339	0.6546	0.6555	0.6758	0.7015
XAU/USD	717.69	726.59	731.00	770.00	777.50

· Euro – 1.2505

Initial support at 1.2330 (Oct 28 low) followed by 1.2134 (50% retracement of 0.8229-1.6038 major rally). Initial resistance is now located at 1.28 (Nov 11 High) at followed by 1.2956 (Nov 6 high)

· Yen – 97.25

Initial support is located at 96.77 (Nov 7 low) followed by 96.36 (Oct 31 low). Initial resistance is now at 99.48 (Nov 10 high) followed by 99.92 (Nov 5 high).

· Pound – 1.5350

Initial support at 1.5269 (Nov 7 low) followed by 1.5000 (Oct 28 low). Initial resistance is now at 1.5402 (Nov 10) followed by 1.5702 (Nov 5).

· Australian Dollar – 0.6555

Initial support at 0.6546 (Nov 7 low) followed by the 0.6339 (Oct 29 low). Initial resistance is now at 0.6758 (Nov 11 high) followed by 0.7015 (Nov 4 high).

· Gold – 731.00

Initial support at 726.59 (Nov 7) followed by 717.69 (Oct 31 low). Initial resistance is now at 770 (Nov 5 high) followed by 777.5 (Oct 30 Level).

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Daily Forex Update: Nov 11 2008

FOREX Daily Outlook by Easy-Forex.com

GM fears overshadow China Stimulus Plan

CURRENCY TRADING SUMMARY – 11th November 2008 (00:30GMT)

· U.S. Dollar Trading (USD) started the week extremely well offered as world markets absorbed news released over the weekend that China was implementing a US$585bn stimulus plan to help growth remain at elevated levels in the world’s most populous nation. The goodwill generated couldn’t be sustained into the US session as news of Circuit City’s bankruptcy and large falls in GM and Google sent US stocks spiraling lower. In the U.S. share markets, the NASDAQ was down 30 points (-1.86%) and the Dow Jones was down 73 points (-0.82%). Crude Oil closed up $1.37 ending the New York session at $62.41 per barrel. Looking ahead, November Economic Sentiment previously at 41.1.

· The Euro (EUR) gained on surging Oil in Asia and improved risk sentiment. The gains into 1.29’s were very limited and as US stocks reversed direction the Euro fell heavily to 1.27 supports. November Sentix fell -36.4 vs. -34 forecast. Overall the EUR/USD traded with a low of 1.2721 and a high of 1.2926 before closing the day at 1.2760 in the New York session. Looking ahead, German September Trade Balance expected at -8Bn vs. -8.2Bn previously. Also released the November German Zew Economic Survey expected at -62 vs. -63 previously

· The Japanese Yen (JPY) was moved by equities and initially sold across the board as crosses surged higher on the China news. USD/JPY stalled in the mid 99’s hurting the overall technical picture as the pair once again failed to get past the key 100 level. As US stocks felt the weight of GM the USD fell quickly and the JPY gained. Overall the USDJPY traded with a low of 97.63 and a high of 99.47 before closing the day around 98.00 in the New York session.

· The Sterling (GBP) tracked the Euro but was first to fail on the topside as economic data from England shows a slump in PPI numbers. October PPI slumped -5.6% vs. -2.6%. This large drop in inflation pressure should allow further cuts form the Bank of England and further undermines the Pound. Overall the GDP/USD traded with a low of 1.5578 and a high of 1.5883 before closing the day at 1.5660 in the New York session. Looking ahead, October BRC Retail Sale previously -1.5%.

· The Australian Dollar (AUD) was one of the major gainers on China news as demand for Australia’s resources are expected to remain strong. Large gains in Metals and stocks also helped to underpin. Moderating the mood was a lowering of the growth outlook from the RBA and a drop in home financing. The mood darkened in the US as markets absorbed the dire GM and Google news. Overall the AUD/USD traded with a low of 0.6653 and a high of 0.6984 before closing the US session at 0.6726.

· Gold (XAU) took advantage of the large gains in Oil to jump above resistance at $750 but was unable to make further gains as US couldn’t hold equity gains. Overall trading with a low of USD$738.8 and high of USD$767.8 before ending the New York session at USD$745 an ounce.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.2652	1.2710	1.2760	1.2956	1.3116
USD/JPY	96.36	97.61	97.95	99.92	100.57
GBP/USD	1.5402	1.5537	1.5640	1.5885	1.6197
AUD/USD	0.6546	0.6652	0.6725	0.7015	0.7065
XAU/USD	707.50	718.25	744.00	777.50	803.30

· Euro – 1.2760

Initial support at 1.2710 (Nov 10 low) followed by 1.2652 (Nov 7 low). Initial resistance is now located at 1.2956 (Nov 6 High) at followed by 1.3116 (76.4% retrace 1.3298 to 1.2526)

· Yen – 97.95

Initial support is located at 97.61 (Nov 10 low) followed by 96.36 (Oct 31 low). Initial resistance is now at 99.92 (Nov 5 high) followed by 100.57 (Oct 22 high).

· Pound – 1.5640

Initial support at 1.5537 (Nov 7 low) followed by 1.5402 (Oct 28 low). Initial resistance is now at 1.5885 (Nov 10) followed by 1.6197 (Nov 5).

· Australian Dollar – 0.6725

Initial support at 0.6652 (Nov 10 low) followed by the 0.6546 (Nov 7 low). Initial resistance is now at 0.7015 (Nov 4 high) followed by 0.7065 (Oct 20 high).

· Gold – 744

Initial support at 718 (61.8% retrace 777.90-682.41) followed by 707 (Oct 27 low). Initial resistance is now at 777.5 (Oct 30 high) followed by 803.65 (Oct 21 Level).

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Daily Forex Update: Nov 10 2008

FOREX Daily Outlook by Easy-Forex.com

US Jobs fall 240 000 in October

CURRENCY TRADING SUMMARY – 10th November 2008 (00:30GMT)

· U.S. Dollar Trading (USD) had a mixed day with the strong uptrend put on hold by terrible unemployment data. October Non Farm Payrolls dropped -240K vs. -200k expected and the Unemployment rate jumped to 6.5%. Pending Home Sales fell -4.6% above the -3.4% forecast. After two days of heavy losses on the stockmarket investors shrugged off the data and sent stocks higher into the weekend. In the U.S. share markets, the NASDAQ was up 38.70 points (2.41%) and the Dow Jones was up 248 points (2.85%). Crude Oil closed up $0.27 ending the New York session at $61.04 per barrel.

· The Euro (EUR) was under pressure initially during Asia but as Tokyo stocks turned around so did the Euros fortunes. The strength was maintained as US data was very weak and Stocks held gains. German Industrial Production was worse than expected at -3.6% in September. Overall the EUR/USD traded with a low of 1.2664 and a high of 1.2951 before closing the day at 1.2745 in the New York session. Looking ahead, November Sentix are expected at -34 vs. -28 previously.

· The Japanese Yen (JPY) initially very strong going into the Asian open but was unable to hold these gains as the Nikkei turned around and risk sentiment improved. The Crosses recovered sharply with the EUR/JPY and AUD/JPY all staging decent rallies. Initial strength on poor US jobs numbers was reversed as equities rallied in the US. Overall the USDJPY traded with a low of 96.77 and a high of 98.68 before closing the day around 98.12 in the New York session.

· The Sterling (GBP) volatility continued with initial weakness in the pound on the back of Thursday’s 1.5% rate cut. As equities reverse though the pound found some buyers and the GBP/JPY lead the recovery. Aggressively lower interest rates are bringing hope that the UK recession may not be as bad as markets are predicting. Overall the GDP/USD traded with a low of 1.5537 and a high of 1.5880 before closing the day at 1.5650 in the New York session. Looking ahead, October PPI is expected at -0.4%.

· The Australian Dollar (AUD) came under severe pressure early in Asia when Oil dropped below $60 a barrel. Joined the majors in recovering well but was extremely volatile during the US session as poor data was absorbed by the market. The Aussie continues to express market sentiment and follows stocks movement very closely. Overall the AUD/USD traded with a low of 0.6545 and a high of 0.6789 before closing the US session at 0.6740.

· Gold (XAU) moved lower with Oil initially before finding some buyers and tracking USD weakness higher. The range was relatively low when compared to other days. Overall trading with a low of USD$727 and high of USD$743 before ending the New York session at USD$737 an ounce.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.2329	1.2526	1.2818	1.2956	1.3116
USD/JPY	96.08	96.36	98.94	99.92	100.57
GBP/USD	1.5269	1.5402	1.5795	1.6197	1.6264
AUD/USD	0.6339	0.6546	0.6870	0.7065	0.7239
XAU/USD	707.50	718.25	748.00	777.50	803.30

· Euro – 1.2818

Initial support at 1.2526 (Nov 4 low) followed by 1.2329 (Oct 28 low). Initial resistance is now located at 1.2956 (Nov 6 High) at followed by 1.3116 (76.4% retrace 1.3298 to 1.2526)

· Yen – 98.94

Initial support is located at 96.36 (Oct 31 low) followed by 96.08 (Oct 29 low). Initial resistance is now at 99.92 (Nov 5 high) followed by 100.57 (Oct 22 high).

· Pound – 1.5795

Initial support at 1.5402 (Oct 28 low) followed by 1.5269 (Oct 24 low). Initial resistance is now at 1.6167 (Nov 5) followed by 1.6264 (61.8% retrace 1.6672 to 1.5604).

· Australian Dollar – 0.6870

Initial support at 0.6546 (Nov 7 low) followed by the 0.6339 (Oct 29 low). Initial resistance is now at 0.7065 (Oct 20 high) followed by 0.7239 (Oct 14 high).

· Gold – 748

Initial support at 718 (61.8% retrace 777.90-682.41) followed by 707 (Oct 27 low). Initial resistance is now at 777.5 (Oct 30 high) followed by 803.65 (Oct 21 Level).

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Daily Forex Update: Nov 7 2008

FOREX Daily Outlook by Easy-Forex.com

Bank of English slashes Interest rates by 1.50%

CURRENCY TRADING SUMMARY – 7th November 2008 (00:30GMT)

· U.S. Dollar Trading (USD) in another very volatile day on the markets the USD was helped to week highs against multiple currencies on both safe haven flows and falling commodity prices. The ECB, SNB and BOE all cuts rates helping to close the gap between the US and other economies interest rates. Only the Yen outperformed the USD as stocks plummeted of a bevy of poor retail results. In the U.S. share markets, the NASDAQ was down 72.94 points (-4.34%) and the Dow Jones was down 443.50 points (-4.85%). Crude Oil closed down $4.53 ending the New York session at $60.77 per barrel. Looking ahead, October Unemployment is to rise to 6.3% vs. 6.1% previously with a drop of 200K jobs. Also released Pending Home Sales are expected to fall -3% in September.

· The Euro (EUR) traded in a wide range but was under pressure from both heavy EUR/JPY selling and expectation of Interest rate cuts. The ECB delivered a 0.5% cut but this was poorly received from the market since earlier the Bank of England cut by 1.50%. German Industrial Orders fell a shocking -8% in September vs. -2% expected. Overall the EUR/USD traded with a low of 1.2678 and a high of 1.2930 before closing the day at 1.2720 in the New York session. Looking ahead, German Trade Balance is expected at 13.7 Bln vs. 13.1 Bln previously.

· The Japanese Yen (JPY) gained heavily against all currencies as risk aversion spiked and stock losses mounted. With the Nikkei down over 6% the mood was set in Asia and although the crosses were buoyant expecting rate cuts from the Eurozone, stocks failed to rebound and Yen gains mounted. USD/JPY was stubbornly resilient as market players are very wary in BoJ/MoF rate checking to stem sharp downside moves. Overall the USDJPY traded with a low of 97.40 and a high of 98.67 before closing the day around 97.70 in the New York session.

· The Sterling (GBP) the currency of the day after the Bank of England shocked markets by cutting rates by a stunning 1.5% sending rates to 3%. This puts interest rates at 50 year lows in England and the market initially bought up the Pound in response to this proactive step to attack the credit crisis. Ongoing stock weakness overwhelmed this rally though and the GBP finished sharply lower. Overall the GDP/USD traded with a low of 1.5562 and a high of 1.6039 before closing the day at 1.5620 in the New York session.

· The Australian Dollar (AUD) was well supported during the European session after falling to heavily in Asia but these gains were not held as Oil fell over 5% and stocks in the US fell sharply. On a brighter note October Unemployment Change was surprisingly strong at +34K vs. -10K. The Unemployment rate was unchanged at 4.3%. Overall the AUD/USD traded with a low of 0.6650 and a high of 0.6901 before closing the US session at 0.6660.

· Gold (XAU) stepped lower as USD strength overwhelmed safe haven flows and investors sold the precious metal to free up cash. One of Gold’s biggest strengths comes from its inflation hedging qualities. With Oil falling $80 a barrel from highs and demand slumping around the world, inflation expectations are seen falling and this is hurting gold sentiment. Overall trading with a low of USD$730 and high of USD$760 before ending the New York session at USD$732 an ounce.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.2329	1.2526	1.2680	1.3116	1.3299
USD/JPY	96.08	96.36	97.50	99.92	100.57
GBP/USD	1.5269	1.5566	1.5580	1.6197	1.6264
AUD/USD	0.6551	0.6603	0.6640	0.7065	0.7239
XAU/USD	707.50	718.25	732.00	777.50	803.30

· Euro – 1.2680

Initial support at 1.2526 (Nov 4 low) followed by 1.2329 (Oct 28 low). Initial resistance is now located at 1.3116 (76.4% retrace 1.3298 to 1.2526) at followed by 1.3299 (38.2% retrace 1.4867 to 1.2329 and Oct 30 high).

· Yen – 97.50

Initial support is located at 96.36 (Oct 31 low) followed by 96.08 (Oct 29 low). Initial resistance is now at 99.92 (Nov 5 high) followed by 100.57 (Oct 22 high).

· Pound – 1.5580

Initial support at 1.5566 (Nov 6 low) followed by 1.5269 (Oct 24 low). Initial resistance is now at 1.6167 (Nov 5) followed by 1.6264 (61.8% retrace 1.6672 to 1.5604).

· Australian Dollar – 0.6640

Initial support at 0.6603 (Nov 3 low) followed by the 0.6551 (Oct 31 low). Initial resistance is now at 0.7065 (Oct 20 high) followed by 0.7239 (Oct 14 high).

· Gold – 732

Initial support at 718 (61.8% retrace 777.90-682.41) followed by 707 (Oct 27 low). Initial resistance is now at 777.5 (Oct 30 high) followed by 803.65 (Oct 21 Level).

Forex trading involves substantial risk of loss, and may not be suitable for everyone.

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c Daily Forex Updates 2008

Daily Forex Update: Nov 6 2008

FOREX Daily Outlook by Easy-Forex.com

Post election slump, Obama fails to inspire stock market

CURRENCY TRADING SUMMARY – 6th November 2008 (00:30GMT)

· U.S. Dollar Trading (USD) had a mixed day after initially gaining on the back of Barack Obama’s US Presidential win. The rally was short lived however as economic data weakened and US stocks slumped. The October ADP employment report showed a -157K decline vs. -100K forecast. Also released the October Non-factory ISM plunged to 44.4 vs. 50.2 previously. In the U.S. share markets, the NASDAQ was down 98.48 points (-5.53%) and the Dow Jones was down 486 points (-5.05%). Crude Oil closed down $5.23 ending the New