Forex618 Daily Currency report

[forex618]

Forex618.net Daily Currency report for Friday November 10 2006

This is only a guide. Please refer to our specific entry signals for exact entries and stops.

This Week's Economic Calendar
--------------------------------------------------------------------------------
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Nov 07 15:00 Consumer Credit Sep $5.0B $5.0B $2.6B
Nov 08 10:30 Crude Inventories 11/03 NA NA 1910K
Nov 09 08:30 Export Prices ex-ag. Oct NA NA -0.5%
Nov 09 08:30 Import Prices ex-oil Oct NA NA 0.1%
Nov 09 08:30 Initial Claims 11/04 310K NA 327K
Nov 09 08:30 Trade Balance Sep -$65.0B -$66.0B -$69.9B
Nov 09 10:00 Wholesale Inventories Sep 0.5% 0.6% 1.1%

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EUR/USD

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.2670

Support levels: 1.2680, 1.2750

Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after an entry signal.

Medium term: The Euro remains in the broader 1.2450 - 1.2950 range which has dominated since June. This means range trading should continue until the Euro breaks out one way or the other.

Today: The euro has reached up to 1.2860, which is the last barrier preventing a full retrace to 1.2940. This means that either we stall here for a decent correction lower (which will ease the overbought studies) or we push through 1.2860 to 1.2940/1.2980 today. Aggressive trades might like to pick a top this morning and try to catch the correction, whereas trend followers will wait for dips before trading long again. As weekly studies are looking increasingly bullish, (a prolonged "bullish rectangle - see weekly chart) the potential for a dramatic year end rally grows daily. We prefer, therefore, to wait for clear dips and long entries from our model. Today, there may be around 1.2700 - 1.2750.

EUR/USD Hourly chart:



EUR/USD Weekly chart:

 

[forex618]

Forex618.net Daily Currency report for Monday November 13 2006

This is only a guide. Please refer to our specific entry signals for exact entries and stops.

This Week's Economic Calendar
--------------------------------------------------------------------------------
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Nov 13 14:00 Treasury Budget Oct -$49.0B -$47.0B -$47.4B
Nov 14 08:30 Retail Sales Oct -0.2% -0.4% -0.4%
Nov 14 08:30 Retail Sales ex-auto Oct 0.1% -0.2% -0.5%
Nov 14 08:30 PPI Oct -0.7% -0.4% -1.3%
Nov 14 08:30 Core PPI Oct 0.1% 0.1% 0.6%
Nov 14 10:00 Business Inventories Sep 0.6% 0.5% 0.6%
Nov 15 08:30 NY Empire State Index Nov 11.0 16.0 22.9
Nov 15 10:30 Crude Inventories 11/10 NA NA 435K
Nov 15 14:00 FOMC Minutes Oct 25
Nov 16 08:30 CPI Oct -0.2% -0.3% -0.5%
Nov 16 08:30 Core CPI Oct 0.2% 0.2% 0.2%
Nov 16 08:30 Initial Claims 11/11 310K NA 308K
Nov 16 09:00 Net Foreign Purchases Sep NA NA $116.8B
Nov 16 09:15 Industrial Production Oct 0.2% 0.2% -0.6%
Nov 16 09:15 Capacity Utilization Oct 81.9% 82.0% 81.9%
Nov 16 12:00 Philadelphia Fed Nov 4.0 5.5 -0.7
Nov 17 08:30 Housing Starts Oct 1675K 1700K 1772K
Nov 17 08:30 Building Permits Oct 1630K 1625K 1638K

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EUR/USD

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.2680

Support levels: 1.2820 - 1.2760, 1.2740, 1.2700

Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after an entry signal.

Medium term: The Euro remains in the broader 1.2450 - 1.2950 range which has dominated since June. This means range trading should continue until the Euro breaks out one way or the other. Medium term target on the upside is 1.3500 and possibly 1.3800.

Today: Edging steadily higher and now at the 1.2900 level. the strategy remains unchanged, and whilst we are above 1.2700, we will be buying dips (to the 1.2800 - 1.2750 area) for an eventual rally to 1.2950 and then a break above 1.3000. Weekly studies remain bullish and this is confirmed by our G7 model. Moves higher in the next few weeks could be quite explosive.

EUR/USD Hourly chart:



EUR/USD Weekly chart:

 

[fxwinner22]

is it true you are james de wet ?

 

[Bensvonp]

Hello, sorry to interrupt thread, but have any of you guys bought the "ten pips a day " ebook that's selling on the web by James Thompson? I bought it, but it doesn't make sense, and the author is not replying to any of emails. Any advice gladly accepted.

 

[forex618]

Forex618.net Daily Currency report for Tuesday November 14 2006

This is only a guide. Please refer to our specific entry signals for exact entries and stops.

This Week's Economic Calendar
--------------------------------------------------------------------------------
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Nov 13 14:00 Treasury Budget Oct -$49.0B -$47.0B -$47.4B
Nov 14 08:30 Retail Sales Oct -0.2% -0.4% -0.4%
Nov 14 08:30 Retail Sales ex-auto Oct 0.1% -0.2% -0.5%
Nov 14 08:30 PPI Oct -0.7% -0.4% -1.3%
Nov 14 08:30 Core PPI Oct 0.1% 0.1% 0.6%
Nov 14 10:00 Business Inventories Sep 0.6% 0.5% 0.6%
Nov 15 08:30 NY Empire State Index Nov 11.0 16.0 22.9
Nov 15 10:30 Crude Inventories 11/10 NA NA 435K
Nov 15 14:00 FOMC Minutes Oct 25
Nov 16 08:30 CPI Oct -0.2% -0.3% -0.5%
Nov 16 08:30 Core CPI Oct 0.2% 0.2% 0.2%
Nov 16 08:30 Initial Claims 11/11 310K NA 308K
Nov 16 09:00 Net Foreign Purchases Sep NA NA $116.8B
Nov 16 09:15 Industrial Production Oct 0.2% 0.2% -0.6%
Nov 16 09:15 Capacity Utilization Oct 81.9% 82.0% 81.9%
Nov 16 12:00 Philadelphia Fed Nov 4.0 5.5 -0.7
Nov 17 08:30 Housing Starts Oct 1675K 1700K 1772K
Nov 17 08:30 Building Permits Oct 1630K 1625K 1638K

--------------------------------------------------------------------------------

EUR/USD

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.2680

Support levels: 1.2820 - 1.2760, 1.2740, 1.2700

Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after an entry signal.

Medium term: The Euro remains in the broader 1.2450 - 1.2950 range which has dominated since June. This means range trading should continue until the Euro breaks out one way or the other. Medium term target on the upside is 1.3500 and possibly 1.3800.

Today: Dropping to 1.2800 as we expected and trying to base there at the moment. Hopefully, this level will hold and the euro will begin to rally to 1.2950 and then break above 1.3000. A break below 1.2790 will mean we shall have to allow for further dips as low as 1.2740, and probably no lower than 1.2680. Weekly studies remain bullish and this is confirmed by our G7 model. Moves higher in the next few weeks could be quite explosive. Remain bullish today, with buying opportunities near 1.2800 and 1.2740, if seen.

EUR/USD Hourly chart:



EUR/USD Weekly chart:

 

[forex618]

Forex68.net Daily Currency report for Thursday November 16 2006

This is only a guide. Please refer to our specific entry signals for exact entries and stops.

This Week's Economic Calendar
--------------------------------------------------------------------------------
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Nov 13 14:00 Treasury Budget Oct -$49.0B -$47.0B -$47.4B
Nov 14 08:30 Retail Sales Oct -0.2% -0.4% -0.4%
Nov 14 08:30 Retail Sales ex-auto Oct 0.1% -0.2% -0.5%
Nov 14 08:30 PPI Oct -0.7% -0.4% -1.3%
Nov 14 08:30 Core PPI Oct 0.1% 0.1% 0.6%
Nov 14 10:00 Business Inventories Sep 0.6% 0.5% 0.6%
Nov 15 08:30 NY Empire State Index Nov 11.0 16.0 22.9
Nov 15 10:30 Crude Inventories 11/10 NA NA 435K
Nov 15 14:00 FOMC Minutes Oct 25
Nov 16 08:30 CPI Oct -0.2% -0.3% -0.5%
Nov 16 08:30 Core CPI Oct 0.2% 0.2% 0.2%
Nov 16 08:30 Initial Claims 11/11 310K NA 308K
Nov 16 09:00 Net Foreign Purchases Sep NA NA $116.8B
Nov 16 09:15 Industrial Production Oct 0.2% 0.2% -0.6%
Nov 16 09:15 Capacity Utilization Oct 81.9% 82.0% 81.9%
Nov 16 12:00 Philadelphia Fed Nov 4.0 5.5 -0.7
Nov 17 08:30 Housing Starts Oct 1675K 1700K 1772K
Nov 17 08:30 Building Permits Oct 1630K 1625K 1638K

--------------------------------------------------------------------------------

EUR/USD

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.2680

Support levels: 1.2770, 1.2740, 1.2700

Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after an entry signal.

Medium term: The Euro remains in the broader 1.2450 - 1.2950 range which has dominated since June. This means range trading should continue until the Euro breaks out one way or the other. Medium term target on the upside is 1.3500 and possibly 1.3800.

Today: Dropping back slightly to 1.2790 and just below, the euro has bounced back again quite strongly and formed a daily "spike low" in the process. With a bit of luck this should be a new interim low and we should be able to recover back to 1.2900 and then a new recent high at 1.2950. A break below 1.2770 will mean we shall have to allow for further dips as low as 1.2740, and probably no lower than 1.2680. No change to the strategy - remain bullish today, with buying opportunities near 1.2800 and 1.2740, if seen.

EUR/USD Hourly chart:



EUR/USD Weekly chart:

 

[forex618]

Daily Currency report for Friday November 17 2006

This is only a guide. Please refer to our specific entry signals for exact entries and stops.

This Week's Economic Calendar
--------------------------------------------------------------------------------
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Nov 13 14:00 Treasury Budget Oct -$49.0B -$47.0B -$47.4B
Nov 14 08:30 Retail Sales Oct -0.2% -0.4% -0.4%
Nov 14 08:30 Retail Sales ex-auto Oct 0.1% -0.2% -0.5%
Nov 14 08:30 PPI Oct -0.7% -0.4% -1.3%
Nov 14 08:30 Core PPI Oct 0.1% 0.1% 0.6%
Nov 14 10:00 Business Inventories Sep 0.6% 0.5% 0.6%
Nov 15 08:30 NY Empire State Index Nov 11.0 16.0 22.9
Nov 15 10:30 Crude Inventories 11/10 NA NA 435K
Nov 15 14:00 FOMC Minutes Oct 25
Nov 16 08:30 CPI Oct -0.2% -0.3% -0.5%
Nov 16 08:30 Core CPI Oct 0.2% 0.2% 0.2%
Nov 16 08:30 Initial Claims 11/11 310K NA 308K
Nov 16 09:00 Net Foreign Purchases Sep NA NA $116.8B
Nov 16 09:15 Industrial Production Oct 0.2% 0.2% -0.6%
Nov 16 09:15 Capacity Utilization Oct 81.9% 82.0% 81.9%
Nov 16 12:00 Philadelphia Fed Nov 4.0 5.5 -0.7
Nov 17 08:30 Housing Starts Oct 1675K 1700K 1772K
Nov 17 08:30 Building Permits Oct 1630K 1625K 1638K

--------------------------------------------------------------------------------

EUR/USD

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.2680

Support levels: 1.2770, 1.2740, 1.2700

Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after an entry signal.

Medium term: The Euro remains in the broader 1.2450 - 1.2950 range which has dominated since June. This means range trading should continue until the Euro breaks out one way or the other. Medium term target on the upside is 1.3500 and possibly 1.3800.

Today: The euro has held up surprisingly well, considering the recent drop in sterling, and remains well above first support levels, with some very quiet trading days this week. Given the very low volatility recently, it is hard to estimate whether this week will end in a bang or a fizzle, but prices will probably try to hold above 1.2750 (1.2700 at the most) before eventually clawing their way back up towards 1.2900. For today, watch for signs of reversal between 1.2770 and 1.2700, before buying.

EUR/USD Hourly chart:

 

[forex618]

Forex618.net Daily Currency report for Friday November 17 2006

This is only a guide. Please refer to our specific entry signals for exact entries and stops.

This Week's Economic Calendar
--------------------------------------------------------------------------------
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Nov 13 14:00 Treasury Budget Oct -$49.0B -$47.0B -$47.4B
Nov 14 08:30 Retail Sales Oct -0.2% -0.4% -0.4%
Nov 14 08:30 Retail Sales ex-auto Oct 0.1% -0.2% -0.5%
Nov 14 08:30 PPI Oct -0.7% -0.4% -1.3%
Nov 14 08:30 Core PPI Oct 0.1% 0.1% 0.6%
Nov 14 10:00 Business Inventories Sep 0.6% 0.5% 0.6%
Nov 15 08:30 NY Empire State Index Nov 11.0 16.0 22.9
Nov 15 10:30 Crude Inventories 11/10 NA NA 435K
Nov 15 14:00 FOMC Minutes Oct 25
Nov 16 08:30 CPI Oct -0.2% -0.3% -0.5%
Nov 16 08:30 Core CPI Oct 0.2% 0.2% 0.2%
Nov 16 08:30 Initial Claims 11/11 310K NA 308K
Nov 16 09:00 Net Foreign Purchases Sep NA NA $116.8B
Nov 16 09:15 Industrial Production Oct 0.2% 0.2% -0.6%
Nov 16 09:15 Capacity Utilization Oct 81.9% 82.0% 81.9%
Nov 16 12:00 Philadelphia Fed Nov 4.0 5.5 -0.7
Nov 17 08:30 Housing Starts Oct 1675K 1700K 1772K
Nov 17 08:30 Building Permits Oct 1630K 1625K 1638K

--------------------------------------------------------------------------------

EUR/USD

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.2680

Support levels: 1.2770, 1.2740, 1.2700

Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after an entry signal.

Medium term: The Euro remains in the broader 1.2450 - 1.2950 range which has dominated since June. This means range trading should continue until the Euro breaks out one way or the other. Medium term target on the upside is 1.3500 and possibly 1.3800.

Today: The euro has held up surprisingly well, considering the recent drop in sterling, and remains well above first support levels, with some very quiet trading days this week. Given the very low volatility recently, it is hard to estimate whether this week will end in a bang or a fizzle, but prices will probably try to hold above 1.2750 (1.2700 at the most) before eventually clawing their way back up towards 1.2900. For today, watch for signs of reversal between 1.2770 and 1.2700, before buying.

EUR/USD Hourly chart:

 

[forex618]

Forex618.net Daily Currency report for Tuesday November 21 2006

This is only a guide. Please refer to our specific entry signals for exact entries and stops.

This Week's Economic Calendar
--------------------------------------------------------------------------------
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Nov 20 10:00 Leading Indicators Oct 0.3% 0.2% 0.1%
Nov 22 08:30 Initial Claims 11/18 310K 310K 308K
Nov 22 10:00 Mich Sentiment-Rev. Nov 92.3 93.0 92.3
Nov 22 10:30 Crude Inventories 11/17 NA NA 1283K

--------------------------------------------------------------------------------

EUR/USD

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.2680

Support levels: 1.2770, 1.2740, 1.2700

Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after an entry signal.

Medium term: The Euro remains in the broader 1.2450 - 1.2950 range which has dominated since June. This means range trading should continue until the Euro breaks out one way or the other. Medium term target on the upside is 1.3500 and possibly 1.3800.

Today: Very little change yesterday as we held above 1.2800 as expected. Hopefully we can do the same again today and rally higher. Next stop is 1.2900 and then another go at the very strong band of resistance between there and 1.3000. If and when we do manage a daily close above 1.3000, it should trigger a lot of long term stops as many market players are forced to make a complete re-think. Buy around 1.2800, stops under 1.2760.

EUR/USD Hourly chart:



EUR/USD Weekly chart:

 

[forex618]

Forex618.net Daily Currency report for Wednesday November 22 2006

This is only a guide. Please refer to our specific entry signals for exact entries and stops.

This Week's Economic Calendar
--------------------------------------------------------------------------------
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Nov 20 10:00 Leading Indicators Oct 0.3% 0.2% 0.1%
Nov 22 08:30 Initial Claims 11/18 310K 310K 308K
Nov 22 10:00 Mich Sentiment-Rev. Nov 92.3 93.0 92.3
Nov 22 10:30 Crude Inventories 11/17 NA NA 1283K

--------------------------------------------------------------------------------

EUR/USD

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.2680

Support levels: 1.2700, 1.2800

Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after an entry signal.

Medium term: The Euro remains in the broader 1.2450 - 1.2950 range which has dominated since June. This means range trading should continue until the Euro breaks out one way or the other. Medium term target on the upside is 1.3500 and possibly 1.3800.

Today: Holding above 1.2800 again and moving slowly higher. As yet, this is not explosive, but the rally should gather pace as and when the key levels capitulate, starting with 1.2870. Allow for some retracement before that, no lower than 1.2800 with dips offering excellent buying opportunities for a new attempt at breaking 1.2900 and then 1.3000. The rest of this year may see some quite extraordinary moves since we have spent almost 6 months in the doldrums. If and when we do manage a daily close above 1.3000, it should trigger a lot of long term stops as many market players are forced to make a complete re-think. Buy around 1.2800, stops under 1.2760.

EUR/USD Hourly chart:



EUR/USD Weekly chart:

 

[forex618]

Forex618.net Daily Currency report for Friday November 24 2006

This is only a guide. Please refer to our specific entry signals for exact entries and stops.

This Week's Economic Calendar
--------------------------------------------------------------------------------
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Nov 20 10:00 Leading Indicators Oct 0.3% 0.2% 0.1%
Nov 22 08:30 Initial Claims 11/18 310K 310K 308K
Nov 22 10:00 Mich Sentiment-Rev. Nov 92.3 93.0 92.3
Nov 22 10:30 Crude Inventories 11/17 NA NA 1283K

--------------------------------------------------------------------------------

EUR/USD

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.2680

Support levels: 1.2900, 1.2860, 1.2760

Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after an entry signal.

Medium term: The Euro remains in the broader 1.2450 - 1.2950 range which has dominated since June. This means range trading should continue until the Euro breaks out one way or the other. Medium term target on the upside is 1.3500 and possibly 1.3800.

Today: At last an increase in volatility, and the euro has rushed up to the 1.2950 region - the top of the trading range which has persisted since May this year. Once again, dips should hold above 1.2900 and probably no lower than 1.2860, where we may get excellent buying opportunities for a new attempt at breaking above 1.2950 and into a new major level. The rest of this year may see some quite extraordinary moves since we have spent almost 6 months in the doldrums. If and when we do manage a daily close above 1.3000, it should trigger a lot of long term stops as many market players are forced to make a complete re-think.

EUR/USD Hourly chart:



EUR/USD Weekly chart:




--------------------------------------------------------------------------------

GBP/USD

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.8940

Support levels: 1.9100, 1.9050, 1.9000

Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after an entry signal.

Medium term: Whilst above major long term support at 1.8500 the outlook for Sterling remains bullish. Below 1.8500 (allowing for spikes and false breaks) means that we shall have to allow for a drop to 1.8300 - 1.8100 and a period of basing there before a resumption of the upward trend. Medium term target 1.9600 and then possibly 2.0000.

Today: Although the pound has yet to make a new weekly high and break above 1.9200, it is trying hard to do so and may just succeed today. As it is holding firmly at 1.9150, dips may be very shallow and buying chances scarce. In the bigger picture, we should hold well above 1.8950, with possible buying chances today between 1.9100 and 1.9000, but probably higher rather than lower. Next target 1.9300.

GBP/USD Hourly chart:

 

[forex618]

Forex618.net Daily Currency report for Monday November 27 2006

This is only a guide. Please refer to our specific entry signals for exact entries and stops.

This Week's Economic Calendar
--------------------------------------------------------------------------------
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Nov 28 08:30 Durable Orders Oct -6.0% -4.5% 8.3%
Nov 28 10:00 Consumer Confidence Nov 105.0 106.5 105.4
Nov 28 10:00 Existing Home Sales Oct 6.15M 6.20M 6.18M
Nov 29 08:30 GDP-Prel. Q3 1.8% 1.8% 1.6%
Nov 29 08:30 Chain Deflator-Prel. Q3 1.8% 1.8% 1.8%
Nov 29 10:00 New Home Sales Oct 1010K 1045K 1075K
Nov 29 10:30 Crude Inventories 11/24 NA NA 5161K
Nov 29 14:00 Fed's Beige Book
Nov 30 08:30 Initial Claims 11/25 310K NA 321K
Nov 30 08:30 Personal Income Oct 0.5% 0.5% 0.5%
Nov 30 08:30 Personal Spending Oct 0.1% 0.1% 0.1%
Nov 30 10:00 Chicago PMI Nov 56.0 54.5 53.5
Nov 30 10:00 Help-Wanted Index Oct 30 31 30
Dec 01 00:00 Auto Sales Nov 5.3M 5.2M 5.1M
Dec 01 00:00 Truck Sales Nov 7.5M 7.3M 7.2M
Dec 01 10:00 Construction Spending Oct -0.3% -0.2% -0.3%
Dec 01 10:00 ISM Index Nov 52.5 52.0 51.2

--------------------------------------------------------------------------------

EUR/USD

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.2800

Support levels: 1.2920, 1.3000,

Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after an entry signal.

Medium term: The euro has broken above the large flag formation which has dominated the technical picture in 2006. Now, whilst above 1.2900 (1.2800 max), the euro remains in an uptrend which is heading back towards 1.3600, the multi-year high, and possibly higher still, towards 1.4100.

Today: We have rallied 200 pips since Friday afternoon in a dramatic extension of the trend towards a stronger euro and a weaker dollar. As expected, there has been a serious sentiment shift since the 1.3000 level broke, and this means that the euro could continue to surge higher in the thin year end markets, breaking through technical levels quite easily. In this environment, top-picking becomes relatively dangerous, and it is better to wait for dips and clear entry signals to buy. It is very hard to predict intraday moves when the market is in this sort of mood, so we shall have to "play it as it lies", with dips probably remaining brief and shallow this week. Watch around 1.3000 for buying opportunities (if we even get that low), targeting 1.3300 and then 1.3500.

EUR/USD Hourly chart:



EUR/USD Weekly chart:




--------------------------------------------------------------------------------

GBP/USD

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.8930

Support levels: 1.9300, 1.9220, 1.9150

Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after an entry signal.

Medium term: Whilst above major long term support at 1.8500 the outlook for Sterling remains bullish. Below 1.8500 (allowing for spikes and false breaks) means that we shall have to allow for a drop to 1.8300 - 1.8100 and a period of basing there before a resumption of the upward trend. Medium term target 1.9600 and then possibly 2.0000.

Today: One week ago we were at 1.8850 and now we are challenging 1.9500, and very close to the recent multi-year high of 1.9550, printed this time of year in 2004. This makes for a dangerous and volatile market and opportunities for "safe" trading may be rare. We will continue to look for chances to buy dips, but as support levels are not well-defined and a long way lower down from this morning's price, we might have to wait for a while. Watch around 1.9300 for opportunities to buy, with tight stops, re-buying lower down at 1.9250. Target 1.9550.

GBP/USD Hourly chart:



GBP/USD Weekly chart:

 

[forex618]

Forex618.net Daily Currency report for Tuesday November 28 2006

This is only a guide. Please refer to our specific entry signals for exact entries and stops.

This Week's Economic Calendar
--------------------------------------------------------------------------------
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Nov 28 08:30 Durable Orders Oct -6.0% -4.5% 8.3%
Nov 28 10:00 Consumer Confidence Nov 105.0 106.5 105.4
Nov 28 10:00 Existing Home Sales Oct 6.15M 6.20M 6.18M
Nov 29 08:30 GDP-Prel. Q3 1.8% 1.8% 1.6%
Nov 29 08:30 Chain Deflator-Prel. Q3 1.8% 1.8% 1.8%
Nov 29 10:00 New Home Sales Oct 1010K 1045K 1075K
Nov 29 10:30 Crude Inventories 11/24 NA NA 5161K
Nov 29 14:00 Fed's Beige Book
Nov 30 08:30 Initial Claims 11/25 310K NA 321K
Nov 30 08:30 Personal Income Oct 0.5% 0.5% 0.5%
Nov 30 08:30 Personal Spending Oct 0.1% 0.1% 0.1%
Nov 30 10:00 Chicago PMI Nov 56.0 54.5 53.5
Nov 30 10:00 Help-Wanted Index Oct 30 31 30
Dec 01 00:00 Auto Sales Nov 5.3M 5.2M 5.1M
Dec 01 00:00 Truck Sales Nov 7.5M 7.3M 7.2M
Dec 01 10:00 Construction Spending Oct -0.3% -0.2% -0.3%
Dec 01 10:00 ISM Index Nov 52.5 52.0 51.2

--------------------------------------------------------------------------------

EUR/USD

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.2800

Support levels: 1.2920, 1.3000,

Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after an entry signal.

Medium term: The euro has broken above the large flag formation which has dominated the technical picture in 2006. Now, whilst above 1.2900 (1.2800 max), the euro remains in an uptrend which is heading back towards 1.3600, the multi-year high, and possibly higher still, towards 1.4100.

Today: Very little change after a quiet day's trading yesterday and a small dip back towards 1.3100. Daily charts show a small "spike high" meaning that we could get a pullback to ease the overbought situation. However, in strong trends like this one, reversal candles are often misleading. Watch around 1.3000 for buying opportunities (if we even get that low), targeting 1.3300 and then 1.3500.

EUR/USD Hourly chart:



EUR/USD Weekly chart:

 

[forex618]

Daily Currency report for Wednesday November 29 2006

This is only a guide. Please refer to our specific entry signals for exact entries and stops.

This Week's Economic Calendar
--------------------------------------------------------------------------------
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Nov 28 08:30 Durable Orders Oct -6.0% -4.5% 8.3%
Nov 28 10:00 Consumer Confidence Nov 105.0 106.5 105.4
Nov 28 10:00 Existing Home Sales Oct 6.15M 6.20M 6.18M
Nov 29 08:30 GDP-Prel. Q3 1.8% 1.8% 1.6%
Nov 29 08:30 Chain Deflator-Prel. Q3 1.8% 1.8% 1.8%
Nov 29 10:00 New Home Sales Oct 1010K 1045K 1075K
Nov 29 10:30 Crude Inventories 11/24 NA NA 5161K
Nov 29 14:00 Fed's Beige Book
Nov 30 08:30 Initial Claims 11/25 310K NA 321K
Nov 30 08:30 Personal Income Oct 0.5% 0.5% 0.5%
Nov 30 08:30 Personal Spending Oct 0.1% 0.1% 0.1%
Nov 30 10:00 Chicago PMI Nov 56.0 54.5 53.5
Nov 30 10:00 Help-Wanted Index Oct 30 31 30
Dec 01 00:00 Auto Sales Nov 5.3M 5.2M 5.1M
Dec 01 00:00 Truck Sales Nov 7.5M 7.3M 7.2M
Dec 01 10:00 Construction Spending Oct -0.3% -0.2% -0.3%
Dec 01 10:00 ISM Index Nov 52.5 52.0 51.2

--------------------------------------------------------------------------------

EUR/USD

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.2800

Support levels: 1.2920, 1.3000,

Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after an entry signal.

Medium term: The euro has broken above the large flag formation which has dominated the technical picture in 2006. Now, whilst above 1.2900 (1.2800 max), the euro remains in an uptrend which is heading back towards 1.3600, the multi-year high, and possibly higher still, towards 1.4100.

Today: Edging higher towards resistance at 1.3235 and no signs of topping just yet. As we have not had opportunities to buy (due to almost non-existent dips), perhaps the next two days will offer some opportunities to sell a little higher up or to buy dips to 1.3100 - 1.3000. Until then, we shall have to be patient and wait.

EUR/USD Hourly chart:



EUR/USD Weekly chart:

 

[forex618]

Forex618.net Daily Currency report for Thursday November 30 2006

This is only a guide. Please refer to our specific entry signals for exact entries and stops.

This Week's Economic Calendar
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Date ET Release For Actual Briefing.com Consensus Prior Revised From
Nov 28 08:30 Durable Orders Oct -6.0% -4.5% 8.3%
Nov 28 10:00 Consumer Confidence Nov 105.0 106.5 105.4
Nov 28 10:00 Existing Home Sales Oct 6.15M 6.20M 6.18M
Nov 29 08:30 GDP-Prel. Q3 1.8% 1.8% 1.6%
Nov 29 08:30 Chain Deflator-Prel. Q3 1.8% 1.8% 1.8%
Nov 29 10:00 New Home Sales Oct 1010K 1045K 1075K
Nov 29 10:30 Crude Inventories 11/24 NA NA 5161K
Nov 29 14:00 Fed's Beige Book
Nov 30 08:30 Initial Claims 11/25 310K NA 321K
Nov 30 08:30 Personal Income Oct 0.5% 0.5% 0.5%
Nov 30 08:30 Personal Spending Oct 0.1% 0.1% 0.1%
Nov 30 10:00 Chicago PMI Nov 56.0 54.5 53.5
Nov 30 10:00 Help-Wanted Index Oct 30 31 30
Dec 01 00:00 Auto Sales Nov 5.3M 5.2M 5.1M
Dec 01 00:00 Truck Sales Nov 7.5M 7.3M 7.2M
Dec 01 10:00 Construction Spending Oct -0.3% -0.2% -0.3%
Dec 01 10:00 ISM Index Nov 52.5 52.0 51.2

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EUR/USD

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.2800

Support levels: 1.3100, 1.3040, 1.3000, 1.2940

Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after an entry signal.

Medium term: The euro has broken above the large flag formation which has dominated the technical picture in 2006. Now, whilst above 1.2900 (1.2800 max), the euro remains in an uptrend which is heading back towards 1.3600, the multi-year high, and possibly higher still, towards 1.4100.

Today: Nothing to add. We are just below resistance at 1.3235/80 and above support levels which start at 1.3100 down to 1.3000. Either buy dips to support or watch for signs of topping between 1.3235/80 and 1.3480. Momentum remains extremely bullish, so be very careful of top-picking.

EUR/USD Hourly chart:



EUR/USD Weekly chart:

 

[forex618]

forex618.net Daily Currency report for Friday December 01 2006

This is only a guide. Please refer to our specific entry signals for exact entries and stops.

This Week's Economic Calendar
--------------------------------------------------------------------------------
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Nov 28 08:30 Durable Orders Oct -6.0% -4.5% 8.3%
Nov 28 10:00 Consumer Confidence Nov 105.0 106.5 105.4
Nov 28 10:00 Existing Home Sales Oct 6.15M 6.20M 6.18M
Nov 29 08:30 GDP-Prel. Q3 1.8% 1.8% 1.6%
Nov 29 08:30 Chain Deflator-Prel. Q3 1.8% 1.8% 1.8%
Nov 29 10:00 New Home Sales Oct 1010K 1045K 1075K
Nov 29 10:30 Crude Inventories 11/24 NA NA 5161K
Nov 29 14:00 Fed's Beige Book
Nov 30 08:30 Initial Claims 11/25 310K NA 321K
Nov 30 08:30 Personal Income Oct 0.5% 0.5% 0.5%
Nov 30 08:30 Personal Spending Oct 0.1% 0.1% 0.1%
Nov 30 10:00 Chicago PMI Nov 56.0 54.5 53.5
Nov 30 10:00 Help-Wanted Index Oct 30 31 30
Dec 01 00:00 Auto Sales Nov 5.3M 5.2M 5.1M
Dec 01 00:00 Truck Sales Nov 7.5M 7.3M 7.2M
Dec 01 10:00 Construction Spending Oct -0.3% -0.2% -0.3%
Dec 01 10:00 ISM Index Nov 52.5 52.0 51.2

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EUR/USD

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.2800

Support levels: 1.3100, 1.3040, 1.3000, 1.2940

Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after an entry signal.

Medium term: The euro has broken above the large flag formation which has dominated the technical picture in 2006. Now, whilst above 1.2900 (1.2800 max), the euro remains in an uptrend which is heading back towards 1.3600, the multi-year high, and possibly higher still, towards 1.4100.

Today: Reaching resistance at 1.3280 as expected and stalling there overnight. It may just be that we hold beneath here today, with Friday's always being ideal days for a corrective move. Try small shorts at 1.3260/75 with tight stops just above 1.3285. Above 1.3280 probably means another strong rally to 1.3400/1.3450, which will end this week very strongly. Dips will probably hold well above 1.3000, and probably no lower than 1.3100.

EUR/USD Hourly chart:



EUR/USD Weekly chart:




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GBP/USD

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.8930

Support levels: 1.9300, 1.9220

Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after an entry signal.

Medium term: Whilst above major long term support at 1.8500 the outlook for Sterling remains bullish. Below 1.8500 (allowing for spikes and false breaks) means that we shall have to allow for a drop to 1.8300 - 1.8100 and a period of basing there before a resumption of the upward trend. Medium term target 1.9600 and then possibly 2.0000.

Today: As predicted, 1.9550 was too much to resist and cable has rallied through the multi-year high to 1.9700. Grossly overbought, but slicing through key barriers effortlessly, the pound could rush all the way to 2.000 quite easily. Too high to buy and too bullish too sell, we prefer to sit this one out completely until more stable chart patterns develop. Until then, very aggressive traders could try very small shorts on signs of topping near 1.9700 and every big figure between here and 2.000. But keep positions small and stops very tight.

GBP/USD Hourly chart:



GBP/USD Weekly chart:

 

[forex618]

Forex618.net Daily Currency report for Monday December 04 2006

This is only a guide. Please refer to our specific entry signals for exact entries and stops.

This Week's Economic Calendar
--------------------------------------------------------------------------------
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Dec 05 08:30 Productivity-Rev. Q3 0.6% 0.5% 0.0%
Dec 05 10:00 Factory Orders Oct -4.2% -3.7% 2.1%
Dec 05 10:00 ISM Services Nov 55.0 56.0 57.1
Dec 06 10:30 Crude Inventories 12/01 NA NA -360K
Dec 07 08:30 Initial Claims 12/02 320K 320K 357K
Dec 07 15:00 Consumer Credit Oct $9.0B $4.5B -$1.2B
Dec 08 08:30 Nonfarm Payrolls Nov 115K 115K 92K
Dec 08 08:30 Unemployment Rate Nov 4.4% 4.5% 4.4%
Dec 08 08:30 Hourly Earnings Nov 0.3% 0.3% 0.4%
Dec 08 08:30 Average Workweek Nov 33.9 33.9 33.9
Dec 08 10:00 Mich Sentiment-Prel. Dec 91.0 92.5 92.1

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EUR/USD

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.3080

Support levels: 1.3220, 1.3140, 1.3065, 1.3000

Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after an entry signal.

Medium term: The euro has broken above the large flag formation which has dominated the technical picture in 2006. Now, whilst above 1.2900 (1.2800 max), the euro remains in an uptrend which is heading back towards 1.3600, the multi-year high, and possibly higher still, towards 1.4100.

Today: Almost at 1.3400 and the relentless rally continues. We are now due for a retracement, but previous rallies demonstrate that we could have another 1-2 bullish weeks before that. As buying euros seems to now have become a one-way bet, many buyers will have bought way too high and their bets will be becoming increasingly shaky. We feel that 1.3400-1.3500 will probably form a short/medium term top to allow a period of consolidation and correction. As before, be careful when top-picking and sell only on clear signs of reversal and use tight stops. For today, either sell on signs of topping between 1.3400-1.3500, or wait for dips to support levels (see above) before buying.

EUR/USD Hourly chart:



EUR/USD Weekly chart:

 

[forex618]

Forex618.net Daily Currency report for Tuesday December 05 2006

This is only a guide. Please refer to our specific entry signals for exact entries and stops.

This Week's Economic Calendar
--------------------------------------------------------------------------------
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Dec 05 08:30 Productivity-Rev. Q3 0.6% 0.5% 0.0%
Dec 05 10:00 Factory Orders Oct -4.2% -3.7% 2.1%
Dec 05 10:00 ISM Services Nov 55.0 56.0 57.1
Dec 06 10:30 Crude Inventories 12/01 NA NA -360K
Dec 07 08:30 Initial Claims 12/02 320K 320K 357K
Dec 07 15:00 Consumer Credit Oct $9.0B $4.5B -$1.2B
Dec 08 08:30 Nonfarm Payrolls Nov 115K 115K 92K
Dec 08 08:30 Unemployment Rate Nov 4.4% 4.5% 4.4%
Dec 08 08:30 Hourly Earnings Nov 0.3% 0.3% 0.4%
Dec 08 08:30 Average Workweek Nov 33.9 33.9 33.9
Dec 08 10:00 Mich Sentiment-Prel. Dec 91.0 92.5 92.1

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EUR/USD

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.3080

Support levels: 1.3220, 1.3140, 1.3065, 1.3000

Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after an entry signal.

Medium term: The euro has broken above the large flag formation which has dominated the technical picture in 2006. Now, whilst above 1.2900 (1.2800 max), the euro remains in an uptrend which is heading back towards 1.3600, the multi-year high, and possibly higher still, towards 1.4100.

Today: Little change since yesterday, with a short dip to the hourly trend line and a daily "doji" candle signaling some hesitation. However, this does not mean the trend is over, and there is an equal chance of a new rush higher or a corrective dip lower. As before - We feel that 1.3400-1.3500 will probably form a short/medium term top to allow a period of consolidation and correction, however, be careful when top-picking and sell only on clear signs of reversal and use tight stops. For today, either sell on signs of topping between 1.3400-1.3500, or wait for dips to support levels (see above) before buying.

EUR/USD Hourly chart:



EUR/USD Weekly chart:

 

[forex618]

Forex618.net Daily Currency report for Wednesday December 06 2006

This is only a guide. Please refer to our specific entry signals for exact entries and stops.

This Week's Economic Calendar
--------------------------------------------------------------------------------
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Dec 05 08:30 Productivity-Rev. Q3 0.6% 0.5% 0.0%
Dec 05 10:00 Factory Orders Oct -4.2% -3.7% 2.1%
Dec 05 10:00 ISM Services Nov 55.0 56.0 57.1
Dec 06 10:30 Crude Inventories 12/01 NA NA -360K
Dec 07 08:30 Initial Claims 12/02 320K 320K 357K
Dec 07 15:00 Consumer Credit Oct $9.0B $4.5B -$1.2B
Dec 08 08:30 Nonfarm Payrolls Nov 115K 115K 92K
Dec 08 08:30 Unemployment Rate Nov 4.4% 4.5% 4.4%
Dec 08 08:30 Hourly Earnings Nov 0.3% 0.3% 0.4%
Dec 08 08:30 Average Workweek Nov 33.9 33.9 33.9
Dec 08 10:00 Mich Sentiment-Prel. Dec 91.0 92.5 92.1

--------------------------------------------------------------------------------

EUR/USD

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.3080

Support levels: 1.3220, 1.3140, 1.3065, 1.3000

Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after an entry signal.

Medium term: The euro has broken above the large flag formation which has dominated the technical picture in 2006. Now, whilst above 1.2900 (1.2800 max), the euro remains in an uptrend which is heading back towards 1.3600, the multi-year high, and possibly higher still, towards 1.4100.

Today: Again, little change, and sideways movement has broken through the steep hourly up-trend line. However, this does not mean the trend is over, and there is an equal chance of a new rush higher or a corrective dip lower. As before - We feel that 1.3400-1.3500 will probably form a short/medium term top to allow a period of consolidation and correction, however, be careful when top-picking and sell only on clear signs of reversal and use tight stops. For today, either sell on signs of topping between 1.3400-1.3500, or wait for dips to support levels (see above) before buying.

EUR/USD Hourly chart:

 

[forex618]

Forex618.net Daily Currency report for Friday December 08 2006

This is only a guide. Please refer to our specific entry signals for exact entries and stops.

This Week's Economic Calendar
--------------------------------------------------------------------------------
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Dec 05 08:30 Productivity-Rev. Q3 0.6% 0.5% 0.0%
Dec 05 10:00 Factory Orders Oct -4.2% -3.7% 2.1%
Dec 05 10:00 ISM Services Nov 55.0 56.0 57.1
Dec 06 10:30 Crude Inventories 12/01 NA NA -360K
Dec 07 08:30 Initial Claims 12/02 320K 320K 357K
Dec 07 15:00 Consumer Credit Oct $9.0B $4.5B -$1.2B
Dec 08 08:30 Nonfarm Payrolls Nov 115K 115K 92K
Dec 08 08:30 Unemployment Rate Nov 4.4% 4.5% 4.4%
Dec 08 08:30 Hourly Earnings Nov 0.3% 0.3% 0.4%
Dec 08 08:30 Average Workweek Nov 33.9 33.9 33.9
Dec 08 10:00 Mich Sentiment-Prel. Dec 91.0 92.5 92.1

--------------------------------------------------------------------------------

EUR/USD

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.3080

Support levels: 1.3220, 1.3140, 1.3065, 1.3000

Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after an entry signal.

Medium term: The euro has broken above the large flag formation which has dominated the technical picture in 2006. Now, whilst above 1.2900 (1.2800 max), the euro remains in an uptrend which is heading back towards 1.3600, the multi-year high, and possibly higher still, towards 1.4100.

Today: Little change from yesterday as the market now settles down into a quiet period before the jobs numbers later today. As we have been moving sideways the whole week, there is not much to add to our analysis, and the view remains unchanged. We feel that 1.3400-1.3500 will probably form a short/medium term top to allow a period of consolidation and correction, however, be careful when top-picking and sell only on clear signs of reversal and use tight stops. For today, either sell on signs of topping between 1.3400-1.3500, or wait for dips to support levels (see above) before buying.

EUR/USD Hourly chart:



EUR/USD Weekly chart: