Forexpros.com Daily Analysis - 25/01/2010

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ForexPros Daily Analysis January 25, 2010


Free webinar on ForexPros - The Effects of Forex on the Stock and Commodities Market

Expert: Jeffrey Baskin
When: Thursday, Jan 28, 2010, 11:00 EST

In this webinar, we will discuss the Forex market and how it impacts the Stock and Commodities market. In addition to the pricing correlations and how you can find Forex trading opportunities using the synergy of all three markets.

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Fundamental Analysis: German Ifo Business Climate Index

Traders look forward to the publication of the German Information and Foschung (Ifo) Business Climate Index tomorrow (January 26). The index determines the business sentiment and conditions in the Euro-zone.
The reading is concluded from a survey of about 7,000 businesses.
A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR. Analysts predict a slight rise to a reading of 95.00 versus a previous reading of 94.70.

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[color=black]We have not seen any major moves on Friday. The Euro kept a bottom at 1.4027, which is very close to the most important support at the moment 1.4014, and started to rise, breaking the report