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Yesterday's forex signals economic releases ended up strong, beating objectives for the greater degree. Trading markets in Asia [link widoczny dla zalogowanych] and Europe responded favorably buying higher yielding assets - equities, commodities in addition to commodities relevant currencies such as CAD, AUD, MXN, and ZAR whilst adding [link widoczny dla zalogowanych] stress on the United states dollar. When the US traders came to work, the climate soured a little as unrest in Middle East and Africa sparked some risk aversion.

New high for the Canadian Dollar had been attained at 0.9684 following the major support point which held from February 2008 at 0.9710 [link widoczny dla zalogowanych] the highest in the last thirty years.

Today on tap the ADP Non-Farm Employment Change statement at 13:15 GMT. Targets are for 178,000 boost in February following 187,000 added private jobs in [link widoczny dla zalogowanych] January. A letdown is likely to create a surge in risk aversion. Also, the Fed Chairman, Ben Bernanke, will complete his testimony before the Senate Banking Committee. Virtually any hint on [link widoczny dla zalogowanych] raising the interest rate [link widoczny dla zalogowanych] in the US, unlikely, will send the USD rising. Below is our forex signals currency trading opinions.

EUR/USD [link widoczny dla zalogowanych] is technically neutral to [link widoczny dla zalogowanych] negative. A pull back to 20-day MA, or the mid Bolli band, at [link widoczny dla zalogowanych] 1.3659 is seemingly on the cards. The tightening Bolli band hints an approaching break-out. If the 1.3659 can break, an added move down to the 1.3500 area may occur.

Sterling looks weak [link widoczny dla zalogowanych] against the USD. Bearish upside down hammer print on the candlesticks yesterdays, [link widoczny dla zalogowanych] in addition to the RSI and MACD trending lower bodes well regarding strong favorable case for [link widoczny dla zalogowanych] the USD. The first target for the GBP bears will be the mid-Bolli band at 1.6146, a break will target February 28 low at 1.6072.

After having a significant and extreme drop from 0.9958 on February 23rd to 0.9684 low yesterday, a whopping 3% move [link widoczny dla zalogowanych] or nearly 300 pips in merely 5 forex trading days could possibly generate some profit taking and a recovery for [link widoczny dla zalogowanych] the USD/CAD. Nevertheless, over-all framework is still bearish with the CAD bulls seeking 0.9665, the declining channel base. Extremely aggressive and patient CAD bulls are looking for a move to the November 2007 lows of 0.9059.