Posted by admin on July 30, 2010 under forex market | 
USD Dollar (USD) – The Dollar weakened against other major currencies in Forex Trading as data showing a drop in jobless claims (457K vs. 468K prior), failed to offset fears over a slowdown in U.S. economic growth. The NASDAQ and Dow Jones declined by 0.57% and 0.29% respectively, while crude oil rose by 1.8% closing at $78.30 a barrel, and Gold (XAU) strengthened by 0.7% to close at $1168.40 an ounce. Today, Advanced GDP is expected at 2.5% vs. 2.7% prior, Chicago PMI is expected to weaken from 59.1 to 56.1, and the Michigan Consumer Sentiment Index is expected at 67.5 vs. 66.5 prior.
EURO (EUR) – The Euro climbed to its highest point in almost three months as European confidence in the economic outlook rose to the highest levels in more than a year this month, evidence the European economy is recovering. The trend of the EUR/USD is clearly bullish since June, the main support on the one hour chart is located at 1.2970, as long as it trades above this level, a long position is preferred. Overall, EUR/USD traded with a low of 1.2977 and with a high of 1.3107. Today, the unemployment rate is expected to remain at 10.0%, German Retail Sales are expected to be 0.0% vs. 0.4%.
EUR/USD – Last: 1.3058
| Resistance |
1.3107 |
|
|
| Support |
1.3045 |
1.2950 |
1.2890 |
British Pound (GBP) – The Pound succeeded to close unchanged versus the Dollar after U.K. house prices fell in July for the first time in five months on tighter lending conditions and concerns that government cuts will slow economic growth. The Nationwide HPI came out at -0.5% vs. -0.2% forecast. GfK Consumer Confidence came out at -22 vs. -21 forecast. The main resistance of the GBP/USD on the daily chart is 1.5650, if the price trades above this level the momentum continue to be bullish, the next support on the one hour chart is 1.5520. Overall, GBP/USD traded with a low of 1.5579 and with a high of 1.5662. No economic data expected today.
GBP/USD – Last: 1.5607
| Resistance |
1.5660 |
|
|
| Support |
1.5545 |
1.5440 |
1.5350 |
Japanese Yen (JPY) –The Yen rose for a second day against the Dollar, as signs the global recovery is slowing, boosted demand for Japan’s currency as a refuge. Tokyo Core CPI came out at -1.3% vs. -1.2% forecast .The main resistance of the USD/JPY on the daily chart is 88.25 level ,as long it’s trading below this level a short position is preferred, the next support is located at 86.20, the main momentum is clearly bearish. Overall, USD/JPY traded with a low of 86.57 and with a high of 87.45. No major news is expected today.
USD/JPY-Last: 86.32
| Resistance |
86.85 |
87.20 |
87.70 |
| Support |
86.25 |
|
|
Canadian dollar (CAD) – The Canadian Dollar advanced for the first time in three days against the Dollar as oil, the nation’s largest export, gained nicely, and other commodities which rose during the US sessions, succeeded to push the Loonie up. As long the USD/CAD are below 1.0450 levels the momentum is bearish, the next support on the daily chart is located at 1.0240. Overall, USD/CAD traded with a low of 1.0303 and with a high of 1.0392. Today, GDP is expected at 0.1% vs. 0.0% prior.
USD/CAD – Last: 1.0360
| Resistance |
1.0395 |
1.0440 |
1.0505 |
| Support |
1.0300 |
1.0255 |
|
Tags: currency pair, currency trading, daily forex, EUR/USD, foreign exchange, Forex, forex account, forex analysis, forex demo, forex market, forex news, forex online, forex online market, forex online trading, forex reviews, forex strategy, Forex Trading, fx forex, fx trading, GBP/USD, gold trading, learn forex, NASDAQ, start forex trading, trade forex, USD/CAD, USD/JPY
Posted by admin on July 29, 2010 under forex market |
USD Dollar (USD) – The Dollar was mixed against other major currencies in Forex Trading after worse than expected U.S. data on durable goods orders that came at -0.6% vs. 0.6% forecast, leaving traders clueless of the market direction. The NASDAQ and Dow Jones declined by 1.04% and 0.38% respectively. Crude oil weakened by 0.7% closing at $77 a barrel. Gold (XAU) strengthened by 0.2% closing at $1160.4 an ounce. Today, Unemployment Claims are expected to weaken from 464K to 457K.
EURO (EUR) – The Euro traded on a narrow range versus the Dollar for the second consecutive day as traders continued to digest the recent stress tests results. The main resistance of the EUR/USD on the daily chart is 1.3050. If the pair trades above this level, the momentum continues to be bullish. The main support on the daily chart is located at 1.2700. Overall, EUR/USD traded with a low of 1.2966 and with a high of 1.3042. Today, German Unemployment Change is expected at -18K vs. -21K prior.
EUR/USD – Last: 1.2998
| Resistance |
1.3017 |
1.3045 |
|
| Support |
1.2952 |
1.2877 |
1.2793 |
British Pound (GBP) – The Pound closed almost unchanged versus the Dollar after touching the highest rate in 5 months during the session due to bad economic data like the durable goods orders in the US which fell more than expected. The main support of the GBP/USD on the one hour chart is 1.5430, if the price trades below this level the momentum will be bearish, the next resistance on the daily chart is 1.5675. Overall, GBP/USD traded with a low of 1.5544 and with a high of 1.5638. Today, Nationwide HPI is expected at -0.2% vs. 0.1% prior.
GBP/USD – Last: 1.5603
| Resistance |
1.5638 |
|
|
| Support |
1.5544 |
1.5442 |
1.5348 |
Japanese Yen (JPY) –The Yen strengthened versus the Dollar as orders for U.S. durable goods unexpectedly fell last month and the Federal Reserve said economic growth slowed in some areas. Retail Sales came out at 3.2% vs. 3.3% forecast. The main resistance of the USD/JPY on the daily chart is 89.20 level ,as long it’s trading below this level a short position is preferred, the next support is located at 86.20. Overall, USD/JPY traded with a low of 87.25 and with a high of 88.11.
USD/JPY-Last: 87.15
| Resistance |
87.71 |
88.11 |
|
| Support |
86.82 |
86.34 |
|
Canadian dollar (CAD) – The Canadian Dollar weakened against the Dollar after a drop in crude oil prices increased speculation that demand will wane for currencies of nations that are dependent on commodities for growth. As long the USD/CAD is below 1.0450 levels, the momentum is bearish. The next support is located at 1.0240. Overall, USD/CAD traded with a low of 1.0298 and with a high of 1.0390.
USD/CAD – Last: 1.0363
| Resistance |
1.0395 |
1.0440 |
1.0505 |
| Support |
1.0300 |
1.0255 |
|
Tags: currency pair, currency trading, daily forex, foreign exchange, Forex, forex account, forex analysis, forex demo, forex market, forex news, forex online, forex online market, forex online trading, forex reviews, forex strategy, Forex Trading, fx forex, fx trading, gold trading, learn forex, NASDAQ, start forex trading, trade forex
Posted by admin on July 28, 2010 under forex market |
USD Dollar (USD) – The Dollar strengthened against most currencies in Forex Trading, except for the Euro and the British Pound after Consumer Confidence came out lower than expected at 50.40 vs. 51.00 and Home Price Indices rose more than expected (4.6% vs. 4.0%). The NASDAQ declined by 0.36% and the Dow Jones rose by 0.12%. Crude oil dropped by 2.32% closing at $77.04 a barrel, Gold (XAU) declined by 1.84%, closing at $1161.4 an ounce. Today, Durable Goods Orders data, Crude oil inventories data and the beige book are expected to be published, all affecting the Greenback.
EURO (EUR) – The Euro rose versus most majors, except the GBP, breaking up the monthly highs versus the USD, but closing beneath them almost unchanged. Encouraging economic data, including better- than- expected German Consumer Confidence (3.9 vs. 3.6), keeps pushing the pair to new highs. The Pair continues to move upwards on a clear uptrend, but is now at important resistance price levels, and a reversal downwards becomes more and more anticipated. Overall, EUR/USD traded with a low of 1.2951 and with a high of 1.3044. Today, German CPI is expected at 0.3% vs. 0.1% previous.
EUR/USD – Last: 1.3002
| Resistance |
1.3047 |
1.3028 |
|
| Support |
1.2966 |
1.2860 |
1.2791 |
British Pound (GBP) – The Pound rallied for the fourth day against the Dollar and all majors, breaking resistance in a clear path upwards. The Pound got its boost up from a rarely affecting indicator of CBI’s distributive trends report (retail activity reading), which exceeded expectations by far with the highest reading since April 2007. The pair is on a very strong trend up and, until technical signs of reversal downwards appear, the momentum is positive and short positions might be risky in the long run. Overall, GBP/USD traded with a low of 1.5441 and with a high of 1.5597. Today, BoE Gov. King is expected to make a speech.
GBP/USD – Last: 1.5595
| Resistance |
1.5823 |
|
|
| Support |
1.5450 |
1.5348 |
1.5295 |
Japanese Yen (JPY) –The Yen weakened versus the dollar and all majors as the Japanese government called ministries to cut 10% of their budget, indicating low interest rates for a longer period. The daily trend of the pair remains bearish, with a support at 86.25. A strong break down is not unreasonable in the weeks to come and could become a shorting opportunity. Overall, USD/JPY traded with a low of 86.81 and with a high of 87.95. No economic data is expected today for the Yen.
USD/JPY-Last: 87.85
| Resistance |
88 |
|
|
| Support |
87.63 |
86.82 |
86.34 |
Canadian dollar (CAD) – The Canadian Dollar weakened against the U.S Dollar and all majors as oil prices dropped rapidly. Oil is one of Canada’s most valuable export products, and rapid changes in its price affect the currency. The pair reversed around important support levels on the daily chart and a retracement up is possible for the days to come. Overall, USD/CAD traded with a low of 1.0254 and with a high of 1.0393. No economic data is expected for today.
USD/CAD – Last: 1.0347
| Resistance |
1.0395 |
1.0447 |
1.0502 |
| Support |
1.0256 |
|
|
Tags: currency pair, currency trading, daily forex, foreign exchange, Forex, forex account, forex analysis, forex demo, forex market, forex news, forex online, forex online market, forex online trading, forex reviews, forex strategy, Forex Trading, fx forex, fx trading, gold trading, learn forex, NASDAQ, start forex trading, trade forex
