Newsletter 20/11/2007

[akforex]

ASIAN SESSION

A) CALENDAR

-GMT 07:00 GER PPI (m/m), (Oct) EST 0.3% PREVIOUS 0.2%
-GMT 07:00 GER PPI (y/y), (Oct) EST 1.6% PREVIOUS 1.5%
Definition
The PPI gauges the average changes in prices received by domestic producers for their output at all stages of processing. The PPI data is compiled from most sectors of the economy, such as manufacturing, mining and agriculture.


B) SUPPORT-RESISTANCE
EURO/USD USD/JPY GBP/USD
R3 1.4750 110.60 2.0575
R2 1.4720 110.40 2.0560
R1 1.4690 110.20 2.0535
S1 1.4650 109.30 2.0480
S2 1.4625 109.10 2.0450
S3 1.4600 108.85 2.0400

C) WATCH
-Interest Rates



D) TRADING TIPS
CANDLESTICKS
The bullish engulfing pattern (bullish tsutsumi) consists of a second-day long white candlestick whose body surrounds the previous day's black body. The bearish engulfing pattern (the bearish tsutsumi ) is a second-day long black candlestick whose body "engulfs" the previous day's small white body, closing lower than the low of the first day.