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 21st - 25th,
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
21st 3:00pm USD Existing Home Sales (4.82M) Tuesday, November 22nd
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 23rd 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 24th 9:00am
EUR German Ifo Business Climate (105.5) 9:30am GBP Revised GDP
(0.5%) All Day USD Bank Holiday Friday, November 25th 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.