EURUSD- Even though EUR put in a negative performance the past week following its failure at the 1.5014 level, its Nov 16'09 high and its subsequent weakness, as long as its current setback maintains above the 1.4782 level, its MT

GBPUSD- The pair followed through lower on its nearer term declines off the 1.6875 level on Friday decisively violating its short term trendline and taking out the 1.6514 level. This development continues to put GBPUSD under pressure with risk seen

Week of 23 to 29 November 2009) German ifo business climate (November): up EMU economic sentiment and industrial confidence (November): up PMI manufacturing index EMU (November): up German CPI inflation (November): yearly rate back in positive territory M3 growth (October):

Japanese strengthened broadly last week on the back of risk aversion as Nikkei dropped through October's low of 9628 to close at 9497. Dollar lagged behind initial as US stocks extended rally and gold marched further to new record high

USD/JPY's choppy fall from 92.31 extended further to as low as 88.63 last week but lost momentum again as it approaches 88.00 support. While some sideway trading might be seen initially this week, further fall is still in favor as

GBP/USD edged higher to 1.6875 but reversed from there and fell sharply since then. The break of 1.6516 support indicates that a short term top is formed with bearish divergence conditions in 4 hours MACD. Initial bias remains on the

USD/CHF's choppy rise from 1.0034 continued last week and is still in progress. Initial bias remains on the upside this week as long as 1.0122 minor support holds. Further rally is in favor towards 1.0337 resistance next. On the downside,

After edging higher to 0.9404 last week, AUD/USD reversed and fell sharply to as low as 0.9060. As short term top is at least in place with bearish divergence conditions in 4 hours MACD and RSI. Initial bias will remain

USD/CAD's rebound from 1.0416 extended further last week and the decisive break of 1.0593 support turned resistance indicates that correction from 1.0851 has already completed with three waves down to 1.0416 already. Initial bias remains on the upside this week

After dipping to 0.8833, EUR/GBP rebounded strongly last week and closed above 0.9 level. The break of near term falling trend line resistance indicates that whole corrective fall form 0.9410 has possibly completed already after touching 0.8837 support. Initial bias

EUR/CHF's recovery and break of near term falling trend line resistance last week argues that recent choppy fall has possibly completed at 1.5080 already. Initial bias will remain on the upside this week as long as 1.5102 minor support holds.

EUR/JPY's fall last week is inline with the near term bearish view that decline from 138.47 is still in progress. Initial bias will remain on the downside this week for 131.56 support first. Break there will confirm fall resumption to

GBP/JPY fell sharply to as low as 146.43 last week, just inch above 146.36 support. The development is inline with the view that rebound from 139.72 has completed at 153.21 already and fall from there is still in progress. Initial

Monday, Nov 23, 2009 Nov 24, 2009 Nov 25, 2008 Nov 26, 2009 Nov 27, 2009

The dollar ended the week higher against most major currencies as risk aversion pressured risky assets. European Central Bank President Jean-Claude Trichet stated that the ECB will withdraw emergency cash gradually and tighten the standards under which it accepts newly

Highlights Currency markets to remain beholden to the risk trade Bullion's bull-run still intact Sterling takes a hammering, focus on 3Q GDP and public finances Key data and events to watch next week Currency markets to remain beholden to the

Trading began on a positive note this week, as indices pushed out to a fresh 13-month highs despite the slide in the November Empire Manufacturing data on Monday. Equity indices were flat mid week as October housing starts declined to

EUR/USD's choppy fall from 1.5047 continued last week and the brief break of 1.4807 is slightly favoring the case that it's resuming. Initial bias is mildly on the downside this week as long as 1.4934 minor resistance holds and further