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By: AKforex - 03-12-2007
0votesA) CALENDAR
-GMT 08:55 GER Manufacturing PMI (Nov) EST 52.9 PREVIOUS 51.7
Definition
The Index is widely used by industrialized economies to assess business confidence. Germany, Japan and the UK use PMI surveys for both manufacturing and services industries. The numbers are arrived at through a series of questions regarding Business activity, New Business, Employment, Input Prices, Prices Charged and Business Expectations. In addition to the headline figures, the prices paid components is highly scrutinized by the markets for evaluating pricing power and inflationary risks.
-GMT 09:00 EU Manufacturing PMI (Nov) EST 52.6 PREVIOUS 52.6
Definition
The Index is widely used by industrialized economies to assess business confidence. Germany, Japan and the UK use PMI surveys for both manufacturing and services industries. The numbers are arrived at through a series of questions regarding Business activity, New Business, Employment, Input Prices, Prices Charged and Business Expectations. In addition to the headline figures, the prices paid components is highly scrutinized by the markets for evaluating pricing power and inflationary risks.
-GMT 09:30 UK Manufacturing PMI (Nov) EST 52.6 PREVIOUS 52.9
Definition
The Index is widely used by industrialized economies to assess business confidence. Germany, Japan and the UK use PMI surveys for both manufacturing and services industries. The numbers are arrived at through a series of questions regarding Business activity, New Business, Employment, Input Prices, Prices Charged and Business Expectations. In addition to the headline figures, the prices paid components is highly scrutinized by the markets for evaluating pricing power and inflationary risks.
-GMT 09:30 EU ECB's Trichet Speaks in Brussels
-GMT 10:00 EU Unemployment (Oct) EST 7.3% PREVIOUS 7.3%
Definition
The percentage of the people classified as unemployed as compared to the total labor force.
B) SUPPORT-RESISTANCE
EURO/USD USD/JPY GBP/USD
R3 1.4780 111.35 2.0700
R2 1.4735 111.00 2.0670
R1 1.4710 110.65 2.0645
S1 1.4645 110.40 2.0600
S2 1.4625 110.15 2.0560
S3 1.4600 109.95 2.0545
C) WATCH
-Interest Rates
-GMT 09:00 EU Manufacturing PMI
-GMT 09:30 UK Manufacturing PMI
-GMT 10:00 EU Unemployment
D) TRADING TIPS
CANDLESTICKS
Atekubi, irikubi and sashikomi are three varieties of the same pattern suggesting that weak rebound attempts via filling common gaps will not derail a solid decline.
The atekubi pattern, which is the most restrictive of the three, consists of a second-day white candlestick that closes at the daily high. The current closing price equals the previous declining day's low. The atekubi candlestick suggests
selling.
The irikubi candlestick is a modified atekubi candlestick. All the characteristics are the same, except that the second day's closing high is marginally higher than the original day's low. The signal remains bearish. The sashikomi candlestick is, in turn, a modified irikubi candlestick. Therefore, all the characteristics are the same and the signal remains bearish. The difference is that the opening of the second day's white candlestick is much lower than that of the irikubi candlesticks.
Despite the wider gap thus formed, the white candlestick closes just
above the previous day's low.
Next Analysis: Central Bank Bonanza kicks off this week with BoC, RBNZ, ECB, and BOE announcements all on tapContent Provided by:
AKforex
AKforex offers online forex trading as an Introducing Broker for Royal Division of IKON GM.The Royal Division is part of IKON GLOBAL MARKETS, Inc. a member of the National Futures Association (NFA) and registered with the Commodity Futures Trading Commission (CFTC) as a Forex Dealer Member/Futures
DISCLAIMER:
While AKFOREX attempts to ensure the accuracy of these data by using sources it believes to be reliable, release dates, times, items included and content are frequently subject to change, error and ommissions. These data shall not be construed as a recommendation to buy or sell any security. AKFOREX shall not assume any legal liability or responsibility for any incorrect, misleading or altered information contained herein.
Our trading platform provides sophisticated order entry and tracking of orders. All stop-loss, limit and entry orders are guaranteed against slippage except in extraordinary volatile market conditions. Trading on-line, no matter how convenient or efficient does not necessarily reduce risks associated with currency trading.
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