INTRA-DAY AUD/USD OUTLOOK : 0.6248 Updating time : 21 Nov 2008 07:57 GMT Although aussie has risen after brief retreat n nr term rise fm 0.6075 (y'day's low) to retrace recent decline may extend gain to 0.6270/75, how- ever, reckon res at 0.6313 wud hold n yield retreat later today. Wud not chase this move n stand aside. Only be low said sup wud signal top is made, 0.6160/70... Range Forecast 0.6230 / 0.6260 Resistance/Support

INTRA-DAY GBP/USD OUTLOOK : 1.4830 Updating time : 21 Nov 2008 08:03 GMT Although cable has retreated after intra-day rise to 1.4896 n pullback to 1.4800/10 is likely, reckon downside wud be ltd to 1.4780 (prev. res) n yield rebound, abv said res wud extend gain twds 1.4926 later. Buy dips with stop as indicated, break wud pro- long choppy trading n risk 1.4740... Range Forecast 1.4805 / 1.4855 Resistance/Support R: 1.4896/1.4926/1.4996 S: 1.4788/1.4712/1.4684

EUR The pre-planned positions for sell from key resistance range were realized with attainment of basic assumed targets. OsMA trend indicator, having marked activity fall of both parties gives reasons for assumptions about incomplete rate correction period. Hence and considering the current bullish activity cycle on the analyzed chart of working period we assume the possibility of as minimum another test at 1.2580/1.2600 range, where it is recommended to evaluate the activity development of

Deal, NO Deal on US automakers sees wild JPY cross gyrations. EURUSD still not sending any clear signals. MAJOR HEADLINES – PREVIOUS SESSION Switzerland SNB lowered Libor Target Rate by 100 bps to 1.00% US Nov. Philadelphia Fed out a -39.3 vs. -35.0 expected Bank of Japan kept target rate at 0.30% as expected THEMES TO WATCH – UPCOMING SESSION Events Today: Germany Nov. Preliminary Manufacturing and Services PMI (0830) EuroZone Nov. Preliminary Manufacturing and Services PMI (0900 ) Canada

Posted by ActionForex.com | Posted in Forecasts / Analysis, Forex News | Posted on 21-11-2008
Action Insight Daily Report Dollar and Yen Pare Overnight Gains as Stocks Rebound Dollar and yen give up some overnight again today as Asian stock markets rebound after opening sharply low. Risk aversion initially dominated the markets as S&P 500 tumbled 6.7% to11 year low of 752.44 and after more than a month of consolidation, DOW finally broke 7884 low in Oct 10 and closed at 7552. Crude oil dived below $49 level. Dollar index rode on risk aversion and surged to as high as 88.36.

It is no surprise that the New Zealand Dollar continues to slide against its U.S. counterpart as RBNZ members have slashed rates by 175bp over the course of its last three consecutive meetings. The latter meeting alone saw an unprecedented 100bp cut. Following the decision came a 12.5% loss in the kiwi in the three days following the decision. With the current overnight cash rate at 6.50% the bank has substantial enough room for further action. The U.S. on the other hand has the benchmark

Posted by Mizuho Corporate Bank | Posted in Forecasts / Analysis, Forex News | Posted on 21-11-2008
EUR Comment: Very strange price action, so subdued compared to what is happening in other markets, almost as if an invisible hand was propping up the base. Surely we cannot hold inside this rather nasty ‘triangle’ for how much longer, and remember this currency pair may be subject to ‘false breaks’. Therefore implied volatility should remain high. Strategy: Possibly attempt tiny longs at 1.2500; stop below 1.2300. First target 1.2700, then 1.2800. EUR/JPY Comment: Dipping to a new recent low

After another disastrous day for US equities and news that the US Congress would delay the possibility of loans to the ''Big Three'' automakers we saw losses extend to Asian stocks and the Yen strengthen further. USD/JPY finished its fall from NY highs of 96.23 early in Asian trading at 93.56, where profit takers came swooping in on the Yen prior to the holiday extended weekend in Japan. After an initial open of 2% in the red, the Nikkei 225 reversed into positive territory, also helping to
