13 JAN 2011 MARKET ANALYSIS13 JAN 2011 MARKET ANALYSIS(This is neither a recommendation nor an advice, it is meant for educational purpose only)Aud UsdThe Aud Usd reached the fib 61.8% to move up with a 2 day pin bar. With the latest unfavorable usd employment news, and the presumably unfavorable fed bernanke news. The usd should head further down pushing the audusd up. If entering long on this pair, stop loss will be placed below the 2day pin.

Nzd UsdThe Nzd Usd – this pair is highly similar to the Aud Usd. Except that this pair has greater chances of moving up due to the weaker aud. We can see price formed a bullish outside bar on both occasion with the highlighted box. Good sign of going long.

Eur UsdThe Eur just received bullish new and negative usd news which caused the latest spike. The area around 1.342 with all the marked blue area is strong area of confluence. We will expect price to stall at the area.

Gbp AudThe Gbp Aud was mentioned days before of meeting the pp of 1.583. Price stopped right at the area to form a pin bar as it got rejected by the strong pp. However, if we took the pin – we would have either took a partial profit or got out breakeven. As mentioned that the gbp is still strong and the flooding at Aud is not getting any better. With this, we will expect price to head further up until the flooding eases. Price is now stalling at the 365 area and if it breaks up. Price will continue it bullish route.

In the daily, there is only bullish price action bars all the way without any obvious bearish bar. Therefore we will not go against the strength of this pair.

Upcoming Important News to noteThurs 13 jan1:00pm USD Fed Chairman Bernanke SpeaksFri 14 Jan4:30am GBP PPI Input m/m8:30am USD Core CPI m/m8:30am USD Core Retail Sales m/m8:30am USD Retail Sales m/m9:55am USD Prelim UoM Consumer Sentiment

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