Forexpros.com Daily Analysis - 21/12/2009

[forexpros]

Forexpros Daily Analysis Dec 21, 2009


Free webinar on Forexpros TODAY - Identifying Market Turning Points With an Objective Set of Rules

Expert: Sam Seiden
When: Mon, Dec 21, 2009, 12:00 EST

The movement of price in the Forex markets is a function of an ongoing supply and demand equation. Opportunity exists when this simple and straight forward equation is out of balance. During this session, we will cover the basic yet important rules for identifying market turning points based on a rule strategy that quantifies real supply and demand in the Forex markets.
This webinar is the first of a three part series brought to you by Online Trading Academy and Forexpros.

to join free.

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Fundamental Analysis: GDP

Tomorrow, Dec 22, the Gross Domestic Product will be published in the UK, USA and New Zealand.
The Gross Domestic Product (GDP) is the broadest measure of economic activity and is a key indicator for the economy's health. The quarterly percent changes in GDP shows the growth rate of the economy as a whole.
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 forecast a reading of -0.30% for the GDP, up from -0.10% and a reading of 2.80% for the USD, representing no change. The NZD is expected to read 0.10%, down from 0.40%.

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