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Forexpros.com Daily Analysis - 11/01/2010
Forexpros Daily Analysis Jan 11. 2010
Free webinar from Forexpros - Identifying Low Risk, High Reward, and High Probability Trading Opportunities For Short Term Forex Traders Expert: Sam Seiden When: Thu, Jan 21, 2010, 11:00 EST During this session, we will apply what we learned during session one to the world of active short term trading in the Forex markets. We will walk through the trade selction process, applying our rule based strategy to identify price levels where demand and supply are out of balance and where profit margins are large offering us significant risk/reward opportunities. This webinar is the second of a three part series brought to you by Online Trading Academy and ForexPros. to join free. --- Fundamental Analysis: Trade Balance The Trade Balance index will be published tomorrow (Jan 12) in the US, Britain and Canada. The Trade Balance index measures the difference in worth between exported and imported goods (exports minus imports). This is the largest component of a country's balance of payments. Export data can give reflection on the country's growth. Imports provide an indication of domestic demand. Because foreigners must buy the domestic currency to pay for the nation's exports, it may have sizable affect on the domestic currency. A higher than expected reading should be taken as positive/bullish for the currency, while a lower than expected reading should be taken as negative/bearish for the currency. Analysts predict a reading of -32.90B for the USD, -7.10B for the GBP and 0.40B for the CAD. --- [color=black]The Euro broke the resistance specified in Friday |
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