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Welcome to the FXReturn.com London Forex Market Call for October 18th.,2010. GBP/USD: Funds decreased their net long position by 1,337 contracts as the market closes on session lows and below the 1.6000 handle. To re-establish the uptrend a consecutive closes above the 1.6000 handle needs to be achieved. A close below 1.5896 could encourage selling down to pivot support at 1.5520 | GOLD: Funds decreased their net long position by 3,746 contracts and closed on session lows in Fridays session. Consecutive closes above 1375 will resume the uptrend with 1400.00 being the next upside objective. Near term support is at 1350.00. If the market closes below support profit taking could set in with a precipitous drop down to 1264.8 | DailyFX Forum visitors ...

[B]There are plenty of fresh news events that provide opportunities for forex binary options trading. Here are potential setups for forex this week.[/B]

[URL="http://www.forexcrunch.com/forex-binary-options-scalping-and-hedging/"]Binary options[/URL] can be used in the world of forex as a mechanism for [URL="http://www.forexcrunch.com/breakout-strategy-with-binary-options/"]false breakouts[/URL], as an alternative to a stop loss order and more. With growing limits on regular forex, options can a great option. Big news events also provide setups for binary options:

Read the rest of the article about [URL="http://www.forexcrunch.com/category/forex-binary-options/"][I][B]forex binary options[/B][/I][/URL].

[B]CPI is the key event in the kiwi’s week. Here’s an outlook for the events in New Zealand, and an updated technical analysis for NZD/USD.[/B]

NZD/USD daily chart with support and resistance lines marked. Click to enlarge:
[URL="http://www.forexcrunch.com/wp-content/uploads/2010/10/nzd-usd-forecast-october-18-22.jpg"][IMG]http://www.forexcrunch.com/wp-content/uploads/2010/10/nzd-usd-forecast-october-18-22-450x233.jpg[/IMG][/URL]
NZD/USD climbed to fresh highs but found strong resistance. Will it make a break now? Let’s start:

Read the rest of the [URL="http://www.forexcrunch.com/category/forex-weekly-outlook/nzd-usd-outlook/"][I][B]NZD/USD Forecast[/B][/I][/URL].

[B]Bias:[/B] I'm mixed between the 81.90-00 area capping or 82.60-74 - but overall this remains bearish

We didn't see the pullback higher on Friday but a retest of the 80.88 low and actually a new low by 1 pip. There are different ways of looking at this with the 81.90-00 area providing resistance but a fuller correction still around 82.60-74. I think we're going to have to watch both areas and react as any tests/breaks occur. Only a break above 82.80 would imply a stronger correction higher with the next natural resistance being at 83.60-97.

If the lower resistance holds - and look any where around the 81.66-90 area - then I suspect we'll see the downtrend resume to reach the original target at 80.36-73. Look ...