USDJPY Bearish Engulfing Hourly Chart

Resistance: 81.71 moderate/82.25 minor/83.04 minor Support: 80.92 strong/80.37 moderate/79.58 minor USDJPY is generally bullish with Hourly Bearish Engulfing occurring near a strong support level at 80.92, the Pivot Point. With the pivot directly beneath us a close under 80.92 has to be seen before jumping short. The immediate object will be 80.37 break of which suggest you have a tanking market with 79.58 as its target. Stops should be placed above the Pivot Point or alternatively the

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USDJPY Bearish Engulfing Hourly Chart

EMU: Construction Output s.a (MoM): -1.400 %

Date (GMT) Event Cons. Actual Previous Nov 19 10:00 Construction Output s.a (MoM) -1.400 % 0.700 % Read the official report at Eurostat News Forex: EUR/USD little reaction after EMU data (FXstreet.com) Mon, Nov 19 2012, 10:11 GMT EMU: Construction Output declines 1.4% in September (FXstreet.com) Mon, Nov 19 2012, 10:08 GMT EU Construction Output w.d.a (YoY) up to -2.6% in Sep from -5.5% in Aug. (MoM) 1.4% vs. 0.7%. (FXstreet.com) Mon, Nov 19 2012, 10:04 GMT

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EMU: Construction Output s.a (MoM): -1.400 %

A great political stir

Review: The US: On Friday, negotiations about a solution to the fiscal cliff situation really began. Several statements indicate that the parties are seeing strong incentives to find a solution. Geither stated that he believes that a solution will be found within the next couple of weeks. Subsequently the US equity markets turned an otherwise negative day into a positive one. In Europe the Greek tragedy goes on. The IMF signals that it wishes to find a more permanent solution to it doesn’t

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A great political stir

The EUR/USD traded lower on Friday

EUROSTOXX 50 (Dec 12) INTRADAY Review Modest upside momentum at the beginning of last week prompted the Eurostoxx to re-test the 2,500 handle, where the price found strong rejection, with the latter part of the week devoted to a progressive slide lower. The index continued to trade lower on Friday, finishing the day with a loss of 0.65% which brought the weekly loss up to 1.46%. Our Friday’s neutral entry short at 2,472 was not reached. Strategy While the European session of Friday lacked

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The EUR/USD traded lower on Friday