Posted by admin on August 26, 2010 under forex market | 
USD Dollar (USD) – The Dollar traded mixed after the Core Durable Goods Orders came out at 3.8%, much weaker than the expected 0.5%. In addition, New Home Sales plunged to the lowest level since 1963. The report came out at 276K, worse than an expected 330K, tacking on more bad news to an already weakening economic recovery. NASDAQ and Dow Jones rose by 0.84% and 0.2% respectively after a negative opening. Crude Oil closed positive after earlier breaking the $71 level and soon recovered to close at $72.87 a barrel. Gold (XAU) hit another rally on the upside, closing at $1240 an ounce. Today, the Initial Jobless Claims is expected at 485K vs. 500K previously.
EURO (EUR) – The Euro gained versus the dollar in Forex Trading for the first day after 5 consecutive days of losses. The German IFO Business Climate came out 106.7, better than the expected 105.8. An upside reversal pattern might be seen if the pair will hold above the 1.2670 levels. Overall, EUR/USD traded with a low of 1.2607 and with a high of 1.2725. Today, the Gfk German Consumer Climate is expected at 4.1 vs. 3.9 previously.
EUR/USD – Last: 1.2696
| Resistance |
1.2640 |
1.2730 |
1.2790 |
| Support |
1.2580 |
|
|
British Pound (GBP) – The Pound gained against the dollar after testing and holding above the 1.54 support zone. Breaching the 1.5485 resistance level might fuel a positive momentum for the pair. Overall, GBP/USD traded with a low of 1.5388 and with a high of 1.5487. Today, the CBI DTS data, which measures the health of the retail sector, is expected at 25 vs. 33 previously.
GBP/USD – Last: 1.5490
| Resistance |
1.5520 |
1.5600 |
|
| Support |
1.5460 |
1.5380 |
|
Japanese Yen (JPY) – The Dollar rose from the bottom versus the Yen on speculations that Japan’s policy makers will take measures to halt the currency’s rapid advance. Breaching the 85 level will put the pair back on the known channel it was on before the plunge. Overall, USD/JPY traded with a low of 83.89 and with a high of 84.87. Today, the Tokyo Core CPI is expected at -1.2% vs. -1.3% previously.
USD/JPY-Last: 84.72
| Resistance |
84.90 |
85.40 |
|
| Support |
84.50 |
83.80 |
|
Canadian dollar (CAD) – The US Dollar fell against the Canadian dollar after 4 consecutive days of rising. This occurred as stocks rose from the day’s lows and Crude Oil, Canada’s biggest export commodity, also jumped. Holding below the 1.0660 resistance level, might push the pair downwards. Overall, USD/CAD traded with a low of 1.0572 and with a high of 1.0666. No economic data is expected today.
USD/CAD – Last: 1.0582
| Resistance |
1.0620 |
1.0660 |
|
| Support |
1.0560 |
1.0500 |
1.0440 |
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, ufx bank, ufxbank
Posted by admin on August 25, 2010 under forex market |
USD Dollar (USD) – The Dollar rose against other major currencies after industry data showed that U.S. existing home sales fell to their lowest level in 15 years (3.83M vs. 4.68M forecast), causing investors to sell higher yielding assets. The NASDAQ and Dow Jones weakened by 1.66% and 1.32% respectively, while crude oil fell by 2.0% to close at $71.36 a barrel, the lowest price in 11 weeks. Gold, on the other hand, (XAU) rose by 0.4and closed at $1233.40 an ounce. Today, Core Durable Goods Orders are expected to rise from -0.9% to 0.6% and New Home Sales are expected at 333K vs. 330K prior.
EURO (EUR) – The Euro fell heavily against the yen and closed almost unchanged versus the Dollar in Forex Trading. It touched a six-week low during the session as main indexes and commodities fell more than 1.5 percent, supported by those buying safety currencies like the Yen and Dollar. The pair is continuing to trade downwards, therefore the momentum is still strongly bearish and a short position is preferred. Overall, EUR/USD traded with a low of 1.2587 and with a high of 1.2719. Today, German IFO Business Climate is expected to weaken from 106.2 to 105.8.
EUR/USD – Last: 1.2656
| Resistance |
1.2730 |
1.2830 |
1.2920 |
| Support |
1.2590 |
|
|
British Pound (GBP) – The Pound fell against the Dollar after the London based Times reported that Bank of England policy maker Martin Weal said the U.K. faces a “real risk” of a second recession. The GBP/USD has broken the support level at 1.5480 and crossed down the 10 moving average on the daily graph and therefore, a short position is preferred. Overall, GBP/USD traded with a low of 1.5372 and with a high of 1.5505. No economic data is expected today.
GBP/USD – Last: 1.5430
| Resistance |
1.5475 |
1.5620 |
1.5700 |
| Support |
1.5370 |
|
|
Japanese Yen (JPY) –The Yen advanced to the strongest level since June 1995 against the Dollar, as concern the global economy is slowing encouraged demand for safer assets. The trade Balance came out better than expected at 0.61T vs. 0.47T forecast. The momentum of the USD/JPY is strongly bearish and the next support on the daily chart is located at 83.50, therefore, a short position is preferred. Overall, USD/JPY traded with a low of 83.59 and with a high of 85.15. No economic data is expected today.
USD/JPY-Last: 84.38
| Resistance |
84.40 |
85.40 |
86.0 |
| Support |
83.60 |
|
|
Canadian dollar (CAD) – The Canadian Dollar fell for a fourth straight day versus the Dollar, touching the lowest level in seven weeks as investors soured on higher yielding assets and currencies. As long the USD/CAD is above 1.0500 levels a long position is preferred. The next resistance on the daily chart is located at 1.0700, and if the price crosses this level, the trend will continue to be bullish. Overall, USD/CAD traded with a low of 1.0536 and with a high of 1.0664. No major economic data is expected today.
USD/CAD – Last: 1.0595
| Resistance |
1.0665 |
|
|
| Support |
1.0555 |
1.0445 |
1.0380 |
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, ufx bank, ufxbank
Posted by admin on August 24, 2010 under forex market |
USD Dollar (USD) – The Dollar gained against most of its majors in Forex Trading as risk aversion continued amid fears that the rate of global economic growth is slowing down. The NASDAQ and Dow Jones weakened by 0.92% and 0.38%, respectively. Crude oil weakened by 1.0% to close at $73.10 a barrel, and Gold (XAU) declined by 0.05%, closing at 1$228.50 an ounce. Today, Existing Home Sales are expected to weaken from 5.37M to 4.68M.
EURO (EUR) – The Euro reached the lowest level versus the Dollar in almost six weeks after data showed services and manufacturing growth slowed in the 16 nation Euro area. German Manufacturing PMI came out at 58.2 vs. the 60.9 forecast, and European Manufacturing PMI came out at 55.0 vs. an expected 56.3. The pair has been trading downwards since August and continues to trade under the 10 moving average on the daily chart, therefore the momentum is still bearish and a short position is preferred. Overall, EUR/USD traded with a low of 1.2647 and with a high of 1.2729. Today, Industrial New Orders are expected at 1.6% vs. 3.8% prior.
EUR/USD – Last: 1.2636
| Resistance |
1.2725 |
1.2833 |
1.2922 |
| Support |
1.2620 |
|
|
British Pound (GBP) – The Pound was near the lowest level against the dollar in almost four weeks as a quarterly gauge of business confidence weakened, further stoking fears that the economic recovery may be slowing. The GBP/USD continues with its stable trend. The next support on the daily chart is at 1.5480 and if the price breaks this level, a short position is preferred. Overall, GBP/USD traded with a low of 1.5499 and with a high of 1.5619. Today, BBA Mortgage Approvals are expected at 35.3K vs. 34.8K prior.
GBP/USD – Last: 1.5447
| Resistance |
1.5500 |
1.5620 |
1.5700 |
| Support |
1.5435 |
|
|
Japanese Yen (JPY) –The Yen rose against all majors as signs the global economy is slowing boosted demand for the currency as a refuge. As long the USD\JPY is trading below the 86.00 level, a short position is preferred and the momentum is clearly bearish. The next support on the daily chart is located at 84.60. Overall, USD/JPY traded with a low of 85.09 and with a high of 85.64. No economic data is expected today.
USD/JPY-Last: 85.06
| Resistance |
85.45 |
85.70 |
86.00 |
| Support |
84.90 |
|
|
Canadian dollar (CAD) – The Canadian Dollar touched the weakest level in a month as crude oil declined and traders reprised their expectations for a Bank of Canada interest rate increase, in light of economic data that suggests a slowing recovery. As long as the USD/CAD is above 1.0450 levels, a long position is preferred. The next resistance on the one hour chart is located at 1.0535 and if the price crosses, this level the trend will continue to be bullish. Overall, USD/CAD traded with a low of 1.0444 and with a high of 1.0530. Today, Core Retail Sales are expected to weaken from 3.8% to 1.6%.
USD/CAD – Last: 1.0550
| Resistance |
1.0570 |
|
|
| Support |
1.0445 |
1.0380 |
1.0300 |
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, ufx bank, ufxbank
