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This is a technical analysis that is designed to help traders identify the daily trend before starting trading for the week. This Forex video analysis covers all of the majors to include the Eur/Usd, Gbp/usd, Eur/Jpy, Usd/Jpy, Gbp/jpy, Usd/Chf, Aud/Usd and the Usd/Cad. This analysis is an opinion only and the trend can change at any time.

Economic News can impact the direction of the pair at any time and it is highly advisable that all traders are well aware of all the news events that are going on at all times. There is a valuable forex resource that has analysis of all major news events that will be coming out this week and that is the Forex Crunch.

[B]The Canadian dollar also lost ground to the greenback, but didn’t lose any important lines. The upcoming week provides important job figures among other indicators. Here’s an outlook for the Canadian dollar and an updated technical analysis for USD/CAD.[/B]

USD/CAD chart with support and resistance lines marked on it. Click to enlarge:
[URL="http://www.forexcrunch.com/wp-content/uploads/2010/01/canadian-dollar-forecast1.jpg"][IMG]http://www.forexcrunch.com/wp-content/uploads/2010/01/canadian-dollar-forecast1-450x313.jpg[/IMG][/URL]

[B][URL="http://www.forexcrunch.com/market-reacts-slowly-to-the-strong-us-growth/"]American GDP was excellent[/URL][/B], but lucky for Canada, also its monthly GDP was published ...

Forex Education Video: Buy and Sell Setups

This is a video instruction on using price action to identify buy and sell setups. One key point is that it is important to first identify the current trend and then look for the entry points going with the direction of the trend. Trading using price action is a great tool that can be used to find accurate trading positions.

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[B]After the [URL="http://www.forexcrunch.com/market-reacts-slowly-to-the-strong-us-growth/"]surprising American GDP[/URL], the first week of February is loaded with major events: rate decisions from Britain, Europe and Australia, job figures from Canada, New Zealand and the US – the almighty Non-Farm Payrolls. Here’s an outlook for the major events of the week.[/B]
I’m trying a new format of the weekly outlook this week, somewhat similar to the specific currency coverages. Let me know what you think about it.
Apart from scheduled events, note the G7 meeting that start on Friday. Comments from there and towards this event might impact the markets.


Read the rest of the [URL="http://www.forexcrunch.com/forex-weekly-outlook-february-1-5-2010/"][I][B]forex ...