Weekly Forex Market Forecast (October 10th - October 15th 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 October 10
^th -15
^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, October 10
^th 11:30am AUD ANZ Job Advertisements (last -0.6%, good
for AUD) Tuesday, October 11
^th 6:30pm EUR ECB President Trichet Speaks (hawkish =
goof for EUR) 7:30pm GBP Manufacturing Production (-0.1%, good for
GBP) 11:15pm CAD Housing Starts (187K, good for CAD) Wednesday,
October 12th 11:30am AUD Home Loans (1.1%, good for AUD) 7:30pm GBP
Claimant Count Change (24.4K, good for GBP) 5:00am USD FOMC Meeting
Minutes (hawkish = good for USD) Thursday, October 13
^th 1:30am AUD Employment Change (10.1K, good for AUD)
1:30am AUD Unemployment Rate (5.3%, good for AUD) Tentative CNY
Trade Balance (17.1B) 1:30pm CAD Trade Balance (-0.9B, good for
CAD) 1:30pm USD Trade Balance (-46.2B, good for USD) 1:30pm USD
Weekly Initial Jobless Claims (407K, good for USD) Friday, October
14
^th 3:00am CNY CPI (6.1%) Start ALL First day of G20
Meetings 1:30pm USD Core Retail Sales (0.2%, good for USD) 1:30pm
USD Retail Sales (0.5%, good for USD) 2:55am USD Preliminary
University of Michigan Consumer Sentiment (60.2, good for USD)
Saturday, October 15
^th End ALL Second day of G20 Meetings, communiqué
expected. Technical Forecast and Levels to Watch for the Majors
This Week EURUSD: Higher Resistance: Initial: 1.3450, 1.3494,
1.3520/24, 1.3566, 1.3586, 1.3689, 1.3720, 1.3743 and 1.3796.
Above: 1.3936, 1.3972, 1.4103, 1.4147, 1.4258, 1.4279, 1.4327 and
1.4499/1.4503. Support: Initial: 1.3384, .13362, 1.3333, 1.3241/44,
1.3145, 1.3055, 1.3000, 1.2968 and 1.2873. Below: 1.2733, 1.2643
and 1.2586. USDJPY: Mildly Higher Resistance: Initial: 76.88/77.06,
77.19/37, 77.71, 77.85, 78.02, 78.66, 79.05, 79.40 and 80.00.Above:
80.22, 80.82, 81.34, 81.76, 82.01/22, 82.77, 83.09 and 83.77.
Support: Initial: 76.50/69, 76.32, 76.25, 76.14, 76.10 and
75.94.Below: 75.00 and 70.00 likely. GBPUSD: Higher Resistance:
Initial: 1.5632, 1.5644, 1.5664, 1.5685, 1.5705, 1.5714, 1.5745,
1.5839, 1.5867, 1.5883, 1.5912/19, 1.5951 and 1.6000.Above: 1.6037,
1.6081, 1.6130, 1.6204/06, 1.6252/59, 1.6332/47, 1.6434/52 and
1.6500/98. Support: Initial: 1.5525/31, 1.5483, 1.5422, 1.5373,
1.5339/55, 1.5326, 1.5293, 1.5270 and 1.5123.Below: 1.5000, 1.4947,
1.4872, 1.4785/97, 1.4500, 1.4474, 1.4345 and 1.4229. AUDUSD:
Higher Resistance:Initial: 0.9842/76, 0.9953, 0.9984, 1.0000,
1.0077, 1.0146, 1.0176, 1.0296, 1.0310, 1.0347, 1.0360, 1.0373/96,
1.0473, 1.0481 and 1.0511.Above: 1.0564/70, 1.0599, 1.0624, 1.0633,
1.0659, 1.0683/93, 1.0718/26, 1.0763, 1.0784, 1.0909, 1.1000/15,
and 1.1064/79. Support: Initial: 0.9732, 0.9689, 0.9667, 0.9651,
0.9620/27, 0.9536/41, 0.9500, 0.9462, 0.9386, 0.9330 and
0.9220.Below: 0.9077, 0.9000, 0.8870, 0.8858, 0.8632, 0.8550 and
0.8066/81. USDCAD: Lower Resistance:Initial: 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: 1.0322, 1.0255, 1.0233/36, 1.0208, 1.0139, 1.0088, 1.0057,
1.0030, 1.0008, 0.9939/1.0030, 0.9828/77, 0.9763/96, 0.9734/39 and
0.9724.Below: 0.9686, 0.9645, 0.9567, 0.9526, 0.9496, 0.9448/56,
0.9422, 0.9405/09, 0.9056 and 0.9000. NZDUSD: Higher
Resistance:Initial: 0.7716, 0.7750/54, 0.7795, 0.7816, 0.7851,
0.7892, 0.7950/62, 0.8000/44, 0.8060/93, 0.8109/19, 0.8126/40 and
0.8150/90.Above: 0.8269/78, 0.8327/39, 0.8365/86, 0.8423,
0.8469/72, 0.8500, 0.8534/75, 0.8676, 0.8764, 0.8793 and 0.8841.
Support: Initial: 0.7672, 0.7626/35, 0.7605, 0.7549, 0.7523,
0.7504, 0.7500, 0.7453/67, 0.7426, 0.7404, 0.7342 and 0.7321.
Below: 0.7189, 0.7115, 0.7000 and 0.6945/62.