Fundamentals:  We have a few announcements today which will likely affect the market.

Coming from Switzerland we have the “Producer and Import Prices, Producer Input Prices”. The previous announcement was 0.0% and the Forecast is 0.1%. (07:15 GMT).

One more announcement coming in from Europe. Industrial Production which will be released at 09:00 GMT, previously resulted at -0.6% and the forecast for today is -0.3%. Later on we will have the FOMC Member Lacker Speak at 16:30 and At 19:50 we will have the FOMC Member Yellen Speak (US)

one of the most obvious indicators of the dollar condition is certainly the INX  chart ,as shown on the chart below we had  a clear trend  with the USD, shown from a technical & fundamental  point of view .the current trend  clearly reflects the situation of the USD against most of the world’s currency, especially when we face such a recession in a global scale. We deal with the biggest question on daily basis which is, what is the next strongest currency ?

It appears like most of the world wants to look for a new primary currency.  We should not be too radical when we enter any transaction this week. Let’s go over what happened the last few days.

EUR/USD

What an amazing weekend, we had a few fascinating moves that only adds more money to our packets.  Checkout the latest move from this pair.  We can see that once we join the trends here we can make a good amount of money with this pair. We will need to see what’s going to happen this week, and with that data we can start working step by step.  We will start by looking over the EUR/USD, lets break it down and we will see how much money we can make dealing this pair.  we can finally see the EUR break the Resistance line, now we will need to start analyzing what will happen next.  The 1.4717 high from December 2008 is next if the EUR continues with this uptrend.

Resistances 1.4560 – 1.4630

Supports 1.4520 – 1.4460

Fundamentals:  We have a few announcements today which will affect the market.

Coming from U.K we have the “Manufacturing Production”. The previous announcement was 0.4% and the forecast for today is 0.3%. (8:30 GMT).

One more announcement coming from Canada “Building Permits” which will be release at 12:30 GMT. The previous announcement was 1.0% and the forecast for today is 0.5%.

USD/CAD

Let’s start analyzing this fascinating couple, Earlier this week, the cad dollar continuing strengthening, you can clearly see it over a daily chart ,

After falling around 90 pips on the back of the August US unemployment report from 1.0970, USD/CAD has bounced at 1.0885 to previous levels close to 1.0980. Currently the pair is trading around 1.1050 to 1.0650 over a daily chart, it is important to note that there is a strong resistance point at 1.0825 .

this pair is a wonderful pair for scalping  traders , the pair is in  clear range, we can find some opportunities by continuing  to trade with this pair. Let’s translate yesterday movements to money

Resistances-1.0830 – 1.0895

Supports-1.0730 – 1.0680

XAU/USD

One of the most fascinating things in the forex market is the possibility to trade with commodities . Especially the black oil trade , witch so-called gold.
Over the last few days we are in a track we can find a clear volatility coming from this pair.
last time this pair had reached to the same levels as now ,was on th23 February, you can find it over the hourly chart , as we can see the pair tried several times to cross the resistance line, it’s hard to say what will happen, but it certainly seems that this direction is an uptrend.

Resistances -1030

Supports -990