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[B]Mark Carney, Governor of the Bank of Canada speaks at the Newfoundland & Labrador Oil & Gas Industries Association, in St. John’s, Canada’s Foreign Securities Purchases are expected to grow and Canadian Leading Index is released. These events close this week’s activities. Let’s see what’s on our menu today.[/B]

In Canada, On Friday, 18 June 2010, Mark Carney, Governor of the Bank of Canada, will speak to the Newfoundland & Labrador Oil & Gas Industries Association in St. John’s. The topic of his lecture is “Fortune Favours the Bold: Short- and Medium-Term challenges for the Canadian Economy”.

More in Canada, Foreign Securities Purchases are expected to grow by 5.47B following the unpredicted ...

EURUSD Forecast:
The EURUSD attempted to push lower yesterday, slipped below the minor bullish channel (red channel) but failed to break below 1.2240 support area before whipsawed to the upside, topped at 1.2411 and closed at 1.2388. This fact should keep the bullish correction scenario intact with nearest target at 1.2450 area before testing 1.2520/30 region. Downside risk in nearest term indicated by CCI divergence but as long as price move inside the minor bullish channel the bullish correction scenario remains strong. Immediate support at 1.2350/00 area. Break below that area could diminish the upside momentum, lead us to no trading zone in nearest term testing 1.2240 support area but overall we are still in bullish correction phase. ...

[B]Bias:[/B] I look for early 112.00-113.05 range trading before extending the rally to the 114.11-26 target before reversing

We didn't get very far yesterday with a sideways trading range establishing itself. However, I feel this should end after seeing a test to around 112.90-05 followed by a correction to the 112.00-10 area. Look for bullish trade set ups here. This should allow a move back higher through the 112.90-05 and 113.31 high to extend directly to the 114.13-26 target. Look for bearish trade set ups here.

Only below 111.63-00 would cause concern and suggest a deeper pullback to 111.43 and later 109.80-06 and 109.30. Above 114.30 may allow 114.67 and above there 115.38.

Please view ...

Attached Files

• The Brief Daily Forecaster.pdf (86.4 KB, 84 次查看)

AUDUSD remains in uptrend from 0.8080 and the price action from 0.8666 is more likely consolidation of uptrend. Another rise is still possible after consolidation and next target would be at 0.8800-0.8850 area. Key support is at 0.8505, only fall below this level will indicate that the uptrend from 0.8080 is complete.



Forex Analysis