Weekly Forex Market Forecast (November 21st - November 25th 2011)

Key Fundamental Forex Events and Forecasts for the Coming
Week The following table lists the key economic data and other
events that are due out during the week of November 21
^st - 25
^th, with release times displayed for the GMT time zone.
The list also includes the current market consensus forecast for
each event and indicates what sort of deviation might affect the
forex market valuation of the indicated currency positively.
Monday, November 21
^st 3:00pm USD Existing Home Sales (4.82M) Tuesday,
November 22
^nd 2:00am NZD Inflation Expectations (last 2.9%) 9:30am
GBP Public Sector Net Borrowing (4.3B) 1:30pm CAD Core Retail Sales
(0.4%) 1:30pm USD Preliminary GDP (2.5%) 7:00pm USD FOMC Meeting
Minutes Wednesday, November 23
^rd All Day JPY Bank Holiday 2:30am CNY HSBC Flash
Manufacturing PMI (last 51.0) 9:30am GBP MPC Meeting Minutes
(0-0-9) 1:30pm USD Core Durable Goods Orders (0.1%) 1:30pm USD
Weekly Initial Jobless Claims (387K) Thursday, November 24
^th 9:00am EUR German Ifo Business Climate (105.5) 9:30am
GBP Revised GDP (0.5%) All Day USD Bank Holiday Friday, November 25
^th No notable economic data releases or events
scheduled. Technical Forecast and Levels to Watch for the Majors
This Week EURUSD: Higher Resistance:Initial: 1.3557, 1.3614,
1.3795/98, 1.3813/27, 1.3854/58, 1.3868 and 1.3973.Above: 1.4246,
1.4258, 1.4279, 1.4327 and 1.4499/1.4503. Support:Initial: 1.3495,
1.3483, 1.3450, 1.3437, 1.3422, 1.3360, 1.3333 and 1.3241/44.Below:
1.3145, 1.3055, 1.3000 and 1.2968. USDJPY: Mildly lower
Resistance:Initial: 77.00, 77.25/89, 78.66, 79.05, 79.40, 79.52,
79.96, 80.00, 80.22 and 80.82.Above: 81.34, 81.76, 82.01/22, 82.77,
83.09 and 83.77. Support:Initial: 76.57, 76.41, 76.10, 75.94,
75.70, 75.65 and 75.56.Below: 75.00 and 70.00 likely. GBPUSD:
Higher Resistance:Initial: 1.5868/90, 1.5912/19, 1.5932, 1.5945,
1.5977, 1.6000, 1.6093 and 1.6130/65.Above: 1.6206, 1.6259,
1.6332/47, 1.6434/73, 1.6500/98 and 1.6616. Support:Initial:
1.5745, 1.5691, 1.5630/85, 1.5525/31, 1.5483, 1.5422, 1.5373,
1.5339/55 and 1.5326.Below: 1.5293, 1.5270, 1.5123 and 1.5000.
AUDUSD: Higher Resistance:Initial: 1.0052, 1.0100/16, 1.0184,
1.0201/29 and 1.0303/70.Above: 1.0444/98, 1.0608, 1.0654 and
1.0718/84. Support:Initial: 1.0000, 0.9983, 0.9964, 0.9925, 0.9863,
0.9732, 0.9689, 0.9667 and 0.9651.Below: 0.9620/27, 0.9536/41 and
0.9500. USDCAD: Lower Resistance:Initial: 1.0302, 1.0337, 1.0417,
1.0481/90, 1.0500, 1.0506, 1.0646/56 and 1.0669.Above: 1.0742,
1.0756, 1.0785, 1.0853, 1.0868, 1.1000 and 1.1101/23.
Support:Initial: 1.0262/87, 1.0210/33, 1.0172/99, 1.0132/42,
1.0105, 1.0075, 1.0053 and 1.0026/30.Below: 0.9969, 0.9934, 0.9891,
0.9828/77, 0.9763/96, 0.9734/39, 0.9724, 0.9686 and 0.9645. NZDUSD:
Higher Resistance:Initial: 0.7605/72, 0.7723/41, 0.7795, 0.7804,
0.7855/59 and 0.7881/88Above: 0.7955/96, 0.8066/93, 0.8109/90 and
0.8240. Support:Initial: 0.7549/52, 0.7523, 0.7504, 0.7500,
0.7453/67, 0.7426 and 0.7404.Below: 0.7342, 0.7321, 0.7189, 0.7115,
0.7000 and 0.6945/62.