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NEWSLETTER US SESSION 19/11/2007
By: AKforex - 19-11-2007
0votesA) CALENDAR
-GMT 13:30 EU Bundesbank\'s Zeitler Speaks at Event in Frankfurt.
-GMT 18:00 USA NAHB Housing Market Index (Nov) EST 17 PREVIOUS 18Definition
The Housing Market Index is data from a survey of home builders reflecting single-family home sales on the present, the next six months and traffic from prospective buyers. This composite index indicates housing market trends. This provides a gauge of not only the demand for housing, but consumer sentiment as well. Furthermore, this narrow piece of data has a powerful multiplier effect through the economy, and therefore across the markets and investments. Each time the construction of a new home begins, it translates to more construction jobs, and income which will be
pumped back into the economy. Once a home is sold, it generates revenues for the home builder and the realtor. It brings a myriad of consumption opportunities for the buyer. Refrigerators, washers, dryers and furniture are just a few items new home buyers might purchase. The economic "ripple effect" can be substantial especially when you think a hundred thousand new households around the country are doing this every month.
B) SUPPORT-RESISTANCE
EURO/USD USD/JPY GBP/USD
R3 1.4730 111.35 2.0605
R2 1.4695 111.05 2.0580
R1 1.4670 110.70 2.0555
S1 1.4615 110.25 2.0450
S2 1.4600 110.05 2.0410
S3 1.4580 109.75 2.0350
C) WATCH
-Interest Rates
-GMT 18:00 USA NAHB Housing Market Index
D) TRADING TIPS
CANDLESTICKS CONTINUATION PATTERNS
Rising and Falling Three methods. The first day of the Rising Three methods pattern is a long white day which fully supports the uptrending market. However, over the course of the next three trading periods, small body days occur which, as a group, trend downward. They all remain within the range of the first day\'s long white body and at least two of these three small-bodied days have black bodies. This period of time when the market appears to have gone nowhere is
considered by the Japanese as a "period of rest". On the fifth day of this pattern, another long white day develops which closes at a new high. Prices have finally broken out of the short trading range and the uptrend will continue. A five day pattern such as the Rising Three Methods requires a lot of detail in its definition. The above scenario is the perfect example of the Rising Three Methods.
Next Analysis: Gold Gives Back Early Gains as Dollar & Yen Rally; Oil Rises Again After US Treasury-Bond Yields Turn NegativeContent 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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