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EURUSD moved without trend in a range between 1.2329 and 1.3290 for several weeks, and the price action is more likely forming a triangle pattern on daily chart. Deeper decline is expected to test the support of the lower border of the triangle pattern next week. Key support is located at 1.2329, only break down below this level will signal resumption of the long term downtrend. For long term analysis, EURUSD remains in long term down trend. Deeper decline to 1.2000 zone to reach the next cycle

Weekly Review and Outlook Euro May Tumble in an Eventful Week on Speculations of Deep ECB Cut Improvement of risk appetite was the main theme in the forex markets early last week as reflected with AUD/USD and AUD/JPY being the top gainers. Nevertheless, momentum in yen crosses receded as the holiday shortened week went on and upside of yen crosses are still limited by some near term resistance levels. The outlook of investors sentiments remained shaky despite the boost by announcement of

FXstreet.com (Barcelona) – The Euro has weakened today against the Yen reaching as low as 121.16, according to the ActionForex Technical Team, intraday bias is on the downside: “Rebound from 116.47 could have completed at 126.24 already. Intraday bias is mildly on the downside as long as 123.46 minor resistance holds and further downside could be seen to 116.47. Break will bring retest of 113.63 low.

On the upside, the ActionForex Technical Team advances: “On the upside, though, above 126.24 will indicate that further rise is in progress to 131.02 or above to complete the correction that started at 113.63.”

Nov. 28, 2008 (Allthingsforex.com) – The U.S. Non-Farm Payrolls and four interest rate announcements from the Reserve Bank of Australia, Reserve Bank of New Zealand, Bank of England, and the European Central Bank promise to deliver an interesting beginning of the last trading month of the year.  In preparation for the new trading week, here is a quick look at the most important economic events that every currency trader should pay attention to. Sunday, Nov. 30 will start the trading

FXstreet.com (Barcelona) – Canadian current account surplus with the rest of the world has narrowed somewhat in the third quarter of the year weighed by a lower goods surplus and a higher investment income deficit, as Canadian earnings on foreign direct investment were down, according to figures by Statistics Canada.

From July to September, Canadian current account surplus declined to 5.6 billion Canadian Dollars from the 8.2 billion dollars surplus posted in the previous quarter.

The goods trade surplus narrowed to C$ 15.2 billion in the third quarter, as exports of goods declined considerably on the quarter. Exports of energy products also declined in the third quarter. On the other hand, imports rose by C$ 4.7 billion in the third quarter, an increase distributed among all sorts of products.

FXstreet.com (Barcelona) For more information, read our latest forex news.

FXstreet.com (Barcelona) For more information, read our latest forex news.

Today's tickers: C, GM, F, CHK, GE, CSCO & AEM C – Citigroup Inc. – There appears to be greater sense of confidence these days about the survival of Citigroup now that the government has ring-fenced more than $300 billion of its toxic mortgage debt. Shares jumped 11.4% to $7.82 and option traders kept it the most active equity option contract in light trading on Friday. December call option buyers favored both 7.5 and 10.0 strikes. Meanwhile trading in the January 7.5 strike puts was

Recently there has been a lot of debate in the media about possible rouble devaluation. Anticipation of a weaker rouble is connected to lower oil prices (which is weakening Russia's external balances), worries over Russia's large external debt levels, and greater political risk after the Caucasus crisis. So far the rouble has been remarkably stable in 2008. Against its dual currency basket (55% USD and 45% EUR) it has only dropped roughly 4.5% this year - see chart one. Further, the rouble has

FXstreet.com (Barcelona) – Consumption seems to have been hit severely by the global financial crisis and the credit squeeze in England, with retail sales weakening continuously, according to the CBI Distributive Trade Survey which has shown the lowest sale levels since 1983.

Shoppers have reported sales below the level posted last year in November in 62% of the cases surveyed while only 16% of them have seen sales above the November 2007, a balance of -46%, down from the -27% level posted in October.

Things do not seem about to improve considerably next month, with a balance of -40% expected lower sales volumes than in December last year, with very low consumption levels in Christmas time and expectations of things to worsen over the next three months.