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ForexPros Daily Analysis February 25, 2010

Free webinar on ForexPros - Using Chart Patterns to Recognize Trends in the Market

Expert: Anthony Cherniawski
When: Today, Mar 15, 2010, 15:00 GMT

Anthony Cherniawski, Manager of The Practical Investor, LLC combines his proprietary cycles studies with other patterning devices and techniques to enhance the accuracy of cycle projections and trades. This multi-disciplinary approach may help improve the outcome of trading decisions for beginning and even experienced traders. The use of chart patterns, Elliott Wave, trend lines and even Japanese Candlesticks provide a means of raising the probability of success in trading the markets. Tony specializes in swing trading and directional (trend) trading in exchange traded funds.

to join free.

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Fundamental Analysis: Existing Home Sales

Traders of the US anticipate the publication of the Existing Home Sales report. It measures the annualized number of existing residential buildings that were sold during the previous month.
This report helps to analyze the strength of the US housing market, which helps to analysis the economy as a whole.
A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD. Analysts predict a future reading of 5.5 M.

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[color=black]The Euro broke the support specified in yesterday