Posted by admin on September 30, 2010 under forex market | 
USD Dollar (USD) – The dollar traded mixed against the majors as no economic data came out and still the prospects for further U.S. monetary easing moved the market. The Stock Markets closed negative with Dow Jones falling -0.21% and the NASDAQ decreasing by -0.13%. Crude Oil soared by 2.2% after the Inventories data closing nearly at 78$ a barrel. Gold (XAU) continued to rise and closed at new record high of 1310$ an ounce. Today, many important macro data will come out starting with the Initial Jobless Claims that expected at 457k vs. 465k previously. The GDP is expected unchanged at 1.6%. The Chicago PMI is expected at 56 vs. 56.7 previously and later, Ben Bernanke, US Federal Reserve Chairman, will be testifying.
EURO (EUR) – The euro touched another fresh high level against the dollar although no economic data came out and seemingly on signs the U.S. economy is slowing. Trading below the resistance level of 1.3640 might push the pair downside for technical adjustments. Overall, EUR/USD traded with a low of 1.3565 and with a high of 1.3646. Today, The German Unemployment Change is expected at -20k vs. -17k previously. The CPI is expected at 1.8% vs. 1.6% previously.
EUR/USD – Last: 1.3595
| Resistance |
1.3640 |
|
|
| Support |
1.3565 |
1.3500 |
1.3440 |
British Pound (GBP) – The Pound fluctuated for another day around the 1.5840 level in Forex Trading still unable to close above. The Net Lending to Individuals came out 1.5B better than expected 0.4B. Trading below the resistance level of 1.5880 might push the pair downside for technical adjustments. Overall, GBP/USD traded with a low of 1.5718 and with a high of 1.5895. Today, the Nationwide HPI is expected at -0.2% vs. -0.9% previously.
GBP/USD – Last: 1.5845
| Resistance |
1.5880 |
|
|
| Support |
1.5780 |
1.5730 |
1.5700 |
Japanese Yen (JPY) – The Yen gained versus the dollar as Asian stocks fell, boosting demand for safer assets. Seems like the pair attempts to reach previous levels it traded before the Bank of Japan intervened 2 weeks ago. The USD/JPY has broken the support level that it had at 84.20 levels therefore the momentum is negative again for the dollar. Overall, USD/JPY traded with a low of 83.48 and with a high of 84.07. Today, The Tokyo Core CPI is expected at -1% vs. -1.1% previously.
USD/JPY-Last: 83.50
| Resistance |
84.00 |
84.65 |
|
| Support |
83.35 |
82.90 |
|
Canadian dollar (CAD) – The U.S. dollar gained against Canada’s dollar while the pair attempted again to breach the 1.0340 level and keeps fluctuate around. Breaching the 1.0340 resistance level might push the pair higher. Overall, USD/CAD traded with a low of 1.0238 and with a high of 1.0340. Today, the GDP is expected to shrink by -0.1% vs. improving by 0.2% previously. Later, BOC Gov will speak.
USD/CAD – Last: 1.0338
| Resistance |
1.0360 |
1.0460 |
|
| Support |
1.0220 |
1.0200 |
|
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Posted by admin on September 29, 2010 under forex market |
USD Dollar (USD) – The Dollar fell against most major currencies after American home prices rose at a slower pace in July (3.20% vs. 4.20% prior) and U.S. consumer confidence which fell (48.5 vs. 52.5 forecast), increasing the possibility the Fed will restart purchases of government debt. NASDAQ and Dow Jones rose by 0.41% and 0.43% respectively, crude oil weakened by 0.4%, closing at 76.18$ a barrel, Gold (XAU) continued to rise and made a new record (above 1309$ )during the session, in the end strengthened by 0.8% , closing at 1308.3$ an ounce. No major economic data expected today.
EURO (EUR) – The Euro traded at almost a five month high against the Dollar when U.S. home prices came out worse than expected in July, fueling speculation the Federal Reserve will ease monetary policy. The momentum of the EUR/USD is still strongly bullish for the euro, as long it’s above 1.3400 level a long position is preferred, the next resistance line on the daily chart is 1.3700,the RSI and the 10 moving average indicators support up trend as well . Overall, EUR/USD traded with a low of 1.3381 and with a high of 1.3595. No economic data expected today.
EUR/USD – Last: 1.3589
| Resistance |
1.3600 |
|
|
| Support |
1.3500 |
1.3290 |
1.3100 |
British Pound (GBP) – The Pound weakened against the Euro and fluctuated versus the Dollar in Forex Trading after Bank of England policy maker Adam Posen said that the central bank should resume its asset purchase program to boost the economy. The main resistance of the GBP/USD on the daily chart is still 1.6000, the momentum is bullish as long the price above 1.5700, the main support on the one hour chart is 1.5740 if the pair breakdown this rate probably it will continue to decline to 1.5500. Overall, GBP/USD traded with a low of 1.5718 and with a high of 1.5895. Today, Net Lending to Individuals is expected to rise from 0.3B to 0.5B.
GBP/USD – Last: 1.5825
| Resistance |
1.5900 |
|
|
| Support |
1.5715 |
1.5600 |
1.5500 |
Japanese Yen (JPY) –The Yen strengthened and was near a two week high against the Dollar after reports showed that home U.S. prices dropped for the first in four months. The USD/JPY has broken the support level that it had at 84.20 level therefore the momentum is negative again for the dollar. Overall, USD/JPY traded with a low of 83.68 and with a high of 84.34. No economic data expected today.
USD/JPY-Last: 83.72
| Resistance |
84.00 |
84.65 |
85.50 |
| Support |
83.65 |
|
|
Canadian dollar (CAD) – The Canadian Dollar touched the weakest level since March against the euro and closed almost unchanged versus the Dollar amid speculation that the Bank of Canada may keep the benchmark interest rate on hold at its next meeting, also the Canadian stocks rose to a five months high ,supported a weaker Canadian Dollar as well. The momentum of the USD/CAD is still negative for the US Dollar although it’s fluctuating in the last few days, as long the USD/CAD below 1.0400 levels a short position is preferred, the next support on the daily chart is located at 1.0200. Overall, USD/CAD traded with a low of 1.0285 and with a high of 1.0361. No major economic data expected today.
USD/CAD – Last: 1.0282
| Resistance |
1.0360 |
|
|
| Support |
1.0220 |
1.0200 |
|
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 September 28, 2010 under forex market |
USD Dollar (USD) – The Dollar traded with a narrow range and closed almost unchanged against most major currencies in Forex trading because of speculation that the Federal Reserve will take more steps to ease monetary policy, damping demand for U.S. assets. The NASDAQ and Dow Jones weakened by 0.48% and 0.44% respectively, while crude oil remained unchanged, closing at $76.50 a barrel. Gold (XAU) continued to rise, strengthening by 0.1%, and closing at $1298.60 an ounce. Today, CB Consumer Confidence is expected at 52.5 vs. 53.5 prior.
EURO (EUR) – The Euro weakened a bit from a five month high against the Dollar as renewed signs of debt problems at European banks and countries such as Ireland and Portugal reduced demand for assets in the European zone. The momentum of the EUR/USD is still strongly bullish for the euro, and as long as it’s above 1.3350 levels a long position is preferred. The next resistance line on the daily chart is at 1.3700, and the RSI indicator supports an uptrend as well. Overall, EUR/USD traded with a low of 1.3425 and with a high of 1.3506. Today, German Prelim CPI is expected to weak from 0.0% to -0.2%.
EUR/USD – Last: 1.3459
| Resistance |
1.3500 |
|
|
| Support |
1.3425 |
1.3285 |
1.3100 |
British Pound (GBP) – The Pound also stayed almost unchanged against the dollar after a quiet day of news and data from these countries. The main resistance of the GBP/USD on the daily chart is 1.6000, and the momentum is bullish as long as the price is above 1.5750. Overall, GBP/USD traded with a low of 1.5787 and with a high of 1.5867. Today, Current Account is expected to remain at -9.60B, and Final GDP is expected to stay at 1.2%.
GBP/USD – Last: 1.5825
| Resistance |
1.5867 |
|
|
| Support |
1.5785 |
1.5600 |
1.5500 |
Japanese Yen (JPY) –The Yen traded with a very small range versus the Dollar after there was no important news that influenced this pair. The USD/JPY has been fluctuating around 84.50 over the last four days. The support on the one hour chart is at 84.20, and if the pair breaks below the support line, the trend will continue to decline. Overall, USD/JPY traded with a low of 84.11 and with a high of 84.37. No economic data is expected today.
USD/JPY-Last: 84.24
| Resistance |
84.40 |
84.70 |
85.40 |
| Support |
84.10 |
|
|
Canadian Dollar (CAD) – The Canadian Dollar fell from a near six week high versus the Dollar, as U.S. stocks and crude oil declined and investors speculated that the Bank of Canada Governor Mark Carney may be unwilling to raise interest rates further. The momentum of the USD/CAD is still negative for the US Dollar, and as long the USD/CAD is below 1.0400 levels, a short position is preferred. The next support on the daily chart is located at 1.0200. Overall, USD/CAD traded with a low of 1.0223 and with a high of 1.0305. No economic data is expected today.
USD/CAD – Last: 1.0291
| Resistance |
1.0345 |
1.0380 |
|
| Support |
1.0225 |
1.0190 |
|
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
