Forexpros.com Daily Analysis - 01/12/2009

[forexpros]

Forexpros Daily Analysis Dec 01, 2009


Special Webinar on Forexpros: Strategic & Tactical FOREX Trading

Hosted by: Wayne McDonell of FXBootcamp
Thu, Dec 3, 2009, 11:00 EST

In this educational presentation you will learn how to use technical analysis to align market and price forces for better trading opportunities with potentially less risk. Trade planning, with the use of moving average entries and pivot point exits, will be discussed in an easy to understand "how to" manner.



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Fundamental News:

The U.S Department of Labor will release The ADP Nonfarm Employment Change report tomorrow (Dec 2)
The ADP National Employment Report is a measure of the monthly change of nonfarm private employment, based on a subset of aggregated and anonymous payroll data that represents approximately 400,000 U.S. business clients.
This release, 2 days before the government-released employment data , is a good predictive to the government's non-farm payrolls data. The change in this indicator can be very volatile.
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 tomorrow's measure to stand at -148.00k, a substantial change from last month's -203.00k.

For more fundamental news, check out the Forexpros

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[color=black]The Euro broke the support 1.5043 but it only reached 1.4970, without testing the important support area 1.4955-1.4924. And now, it is going back up, closing on almost the same levels that we were at yesterday