Forexpros.com Daily Analysis - 30/11/2009

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Forexpros Daily Analysis Nov 30, 2009


Free webinar - Strategic & Tactical FOREX Trading

Expert: Wayne McDonell
When: 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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ISM Manufacturing Index

The U.S. Institute of Supply Management (ISM) will publish its monthly Manufacturing Index tomorrow (Dec 1).
The ISM index is the result of a monthly survey of over 400 companies in 20 industries throughout the 50 states, which tracks the amount of manufacturing activity that occurred in the previous month. The Index is considered a very important and trusted economic measure.
An index value of below 50 usually indicates a decrease in activity, and points to an economic recession, especially if the trend continues over several months.
A value substantially above 50 likely indicates a time of economic growth.
The ISM's leading quality has been proven over time. During a recession, the ISM's bottom may precede the turning point for the economic cycle by some months.
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 last month's value of 55.70 to decrease slightly to 54.80.

Stay updated with the latest announcements by world on Forexpros.

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[color=black]The Euro broke the resistance 1.4897 and reached the two suggested targets 1.4948 & 1.4985 successfully on Friday. And This morning it jumped even more, reaching 1.5082. A return to these levels means that last week