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[B]After one of the wildest weeks that we’ve seen in quite a while, the upcoming week seems more quiet, at least at the beginning. The echoes of the [URL="http://www.forexcrunch.com/dollar-emerges-as-the-winner-out-of-the-confusing-nfp/"]Non-Farm Payrolls[/URL][/B][B] will be heard during this time. Later on, some major market moving events are due. Here’s the outlook for the second week of February.[/B]

Finance ministers of the G7 nations are meeting in the remote Canadian town of Iqaluit and may release important comments that might impact the opening of the markets. The final remarks by US Treasury Secretary Timothy Geithner are of high importance. He’ll speak more than 24 hours before the markets open, so there will be ...

Posted by Casey Stubbs on Saturday, February 6, 2010 Under: Trade opportunities

The Dollar is on a roll and nothing can stop it! Can you believe that I actually said that this pair may stall a bit or consolidate? I was sure wrong on that one So I give up I am jumping on the Dollar train I am going to short the Dollar and I am going to put all the money I have on it so that I can retire next week.

Ok, wait maybe that is not such a good idea, if I would have done that last week it would have worked. But If I did that I would have to throw out all the princbbles and disciplines that have made me a profitable trader in the first place. There is the temptation to do so but if I do that one mistake and I could be ...

EURUSD Weekly Summary: Euro remains under pressure, Hammer candlestick might give technical support next week
The EURUSD made another bearish momentum this week after failed to break above 1.4030 on Wednesday, bottomed at 1.3585 but closed a little bit higher at 1.3664 on Friday, formed a hammer candlestick pattern, as you can see on my daily chart below. I still prefer a bearish scenario next week with potential technical target at least around 1.3490 – 1.3400 area but potential upside pullback suggested by the hammer is something that we must not ignore. Immediate resistance to be tested is around 1.3750 area. Break above that area could trigger further bullish correction testing 1.3850 – 1.3900 area even back towards 1.4000/30 region. ...

USDJPY stays in a falling price channel and remains in downward movement from 93.75. Another fall is still possible next week and target would be at 88.00 area. Resistance is now at the upper border of the channel, as long as channel resistance holds, downtrend could be expected to continue. However, next cycle bottom on daily chart is nearing, bounce back to 92.00 area would more likely be seen after touching 88.00 level, and a clear break above the channel resistance will confirm the cycle bottom.

For long term analysis, USDJPY has formed a cycle bottom at 84.82 level on weekly chart. Bounce towards 100.00 area is expected after consolidation.

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