10TH JAN MARKET ANALYSIS10TH JAN MARKET ANALYSIS10th Jan 2011 Market Analysis(This is neither a recommendation nor an advice, it is meant for educational purpose only) Aud UsdThe Aud Usd headed further down as expected. It is now in the zone where it may break either side.We will wait for the close of todays bar to depict its move based on price action. Although the Aud is weak now, the Usd is not going strong and is weakening instead. Unless there’s clear price action. We will keep this out. Remember there’s Aud news coming out later today.

Eur GbpThe Eur Gbp – On our last post we were waiting for retracement to enter short. If we looked closely enough at the 1hr chart, we do get price action entry point. But there were not any in the daily chart as price went down quickly. This is due to the extremes on both end, the weakening euro and the strong gbp. We should always look for these kind of trades to enter, as they will reap good rewards fast! Price has now reached the fib 0% and we can still enter short on bearish price action.

Eur UsdThe Eur Usd is on the trend as the Eur Gbp except that the Usd is not strong enough to support its fast downward move. We can watch for bearish PA at the highlighted blue box area for a short entry.

Gbp AudThis is a pair to watch! We had marked the highlighted blue area weeks back. And price is now heading towards the area of strong PP.Though the gbp is going strong now and the Aud weak now. This is still an area to watch for a short as the main trend is down.

Usd CadThe Usd Cad is a good year for a short. According to JP Morgan analysis, the usd will be weak this year with the cad as the bullish winner this 2011. This will be an idea for our trading knowledge this year fundamentally, and we will trade along this bearish trend with technical analysis. A pair worthy to short this 2011. If you only trade 1 pair this year. This could be it.

Upcoming Important News to noteMon 10 Jan10:30am CAD BOC Business Outlook Survey4:00pm NZD NZIER Business Confidence7:30pm AUD ANZ Job Advertisements m/m7:30pm AUD Trade BalanceTues 11 Jan8:15am CAD Housing Starts7:30pm AUD Home Loans m/m

For more FREE Price Action Forex Trading Strategies, Visit

www.asiaforexmentor.com