17 JAN FOREX MARKET ANALYSIS17 JAN FOREX MARKET ANALYSIS17 Jan 2011 Market Analysis(This is neither a recommendation nor an advice, it is meant for educational purpose only)Usd CadThe Usd Cad was mentioned last week that this pair is good to short. This is further strengthen by the pin bar formed right off the pp at 0.99750. If we want to play this pair, we can place a pending sell order at the 50% retracement of the pin bar. Stoploss above the pin.

Nzd UsdThe Nzd Usd was noted last week that this pair may head further up. Price continue its way up and a good profit target would be the fib 0% level. The Aud Usd on the other hand would not be a good pair to go long which is still due to the flood conditions in australia.

Eur GbpThe Eur Gbp made its moved down from the gorgeous pin bar on friday. The is further strengthen by the weak euro and the strengthening Gbp. With the fundamentals as support and with price action. This was a good pair not to be missed. Those still in the trade would be good to trail it after taking a partial profit. Trailing it is to gain great profits if it continue its way south.

Eur UsdThe Eur Usd is a similiar pair as the Eur Gbp with the exception that the dollar is also weak. Therefore Eur Gbp is still a better pair to short. As mentioned last week, the pair reached the significant pp at 1.342 pp. The fundamentals for this pair isn’t that strong. Therefore, the pair may move sideways in the meanwhile if the 150ema holds it tight.

Upcoming Important News to noteTues 18 jan4:30am GBP CPI y/y5:00am EUR German ZEW Economic Sentiment9:00am CAD BOC Rate Statement9:00am CAD Overnight Rate9:00am USD TIC Long-Term Purchases

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