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| TECHNICAL ANALYSIS |
| ✓ PIVOT POINT ANALYSIS |
✓ FIBONACCI RETRACEMENT |
✓ SUPPORT & RESISTANCE |
| ✓ LINES & CHANNELS |
✓ MOVING AVERAGES |
✓ MOVING AVERAGE CONVERGENCE/DIVERGENCE (MACD) |
| ✓ PARABOLIC SAR |
✓ SLOW STOCHASTIC |
✓ BOLLINGER BANDS |
FIBONACCI RETRACEMENT
The fibonacci retracement is a good tool for novice and seasoned traders. It is can be used as a stand along study or an additional study to confirm price movement of a currency pair. The fibonacci retracement is displayed by drawing a trendline between two extereme points.
For example, the picture on the right is a USD/JPY chart. The fibonacci retracement is configured from the highest point 105.86 to lowest point 104.69. There are 6 levels shown on the chart, 0%, 38.2%, 50%, 61.8%, 78.6% and 100%. You may customize the various levels as you prefer.
After a significant move, currency price will retrace a significant portion from the original move. Typically, the fibonacci retracement is interpreted in a percentage basis. However, traders like to use prices as labels instead of percentages to obtain a more articulate picture of a specific currency pair movement. You may use both percentage and price in the fibonacci retracement configuration.
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| ECONOMIC CALENDARS |
| DATE |
TIME |
COUNTRY |
EVENT |
FORECAST |
PREVIOUS |
| 07/21/08 |
3:15am |
Switzerland |
PPI m/m |
0.4% |
1.2% |
| 07/21/08 |
4:45am |
United Kingdom |
BOE Governor King Speaks |
|
|
|
8:30am |
Canada |
Core Retail Sales m/m |
0.8% |
1.1% |
|
9:30pm |
Australia |
CPI q/q |
1.2 |
1.3% |
| 07/23/08 |
4:30am |
United Kingdom |
MPC Meeting Minutes |
8-1 hld |
8-1 hld |
|
7:00am |
Canada |
Core CPI m/m |
0.2% |
0.3% |
|
5:00pm |
New Zealand |
Monetary Policy Statement |
|
|
|
5:00pm |
New Zealand |
Official Cash Rate |
8.25% |
8.25% |
| 07/24/08 |
4:00am |
Eurozone |
German Ifo Business Climate Index |
100.2 |
101.3 |
|
4:30am |
United Kingdom |
Retail Sales m/m |
-2.5% |
3.5% |
|
10:00am |
United States |
Existing Home Sales |
4.93M |
4.99M |
| 07/25/08 |
4:30am |
United Kingdom |
Prelim GDP q/q |
0.2% |
0.3% |
|
8:30am |
United States |
Core Durable Goods Orders m/m |
-0.2% |
-0.9% |
|
10:00am |
United States |
New Home Sales |
508K |
512K |
| LATEST MARKET UPDATES |
CURRENCY OUTLOOK |
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