Forex Daily Outlook November 2, 2009

We had a very exciting Friday to wrap up the week. Just as everyone thought Thursdays strong performance would continue the bearish dollar and bullish equity trends, Friday packed a strong punch made everyone wonder? We remained short on our EUR/USD and GBP/USD trades; our bias remains long dollars, but we must follow price action and Monday is going to be a very important day. We expect consolidation as the economic calendar is full of important releases. Most importantly, were going to pay close attention to the US releases such as ISM Manufacturing PMI and Pending Home Sales on Monday, RBA rate announcement on Tuesday, ADP Non-Farm Employment Change, ISM Non-Manufacturing PMI, FOMC Statement along with the Fed Funds Rate on Wednesday, and most important Non Farm Payrolls data on Friday. Expect more volatility and trade with caution.

If youd like a more detailed analysis with potential trade opportunities during our live trading session, please join us in the members area.

Category:

Education

Tags:

• forex
• fx
• trading
• training
• forex trading
• forex training
• outlook

[spoteuro]

Pending Home Sales is only the beginning. The stimulus package that was passed will make all economic statistics look better in the short term; this is why we are seeing so much volatility in the markets. Traders react to the initial news, then adjust their positions according to the market outlook. \

[davfritz]

goodness gracious me..... golly gosh thats another language