Posted by admin on September 27, 2010 under forex market | 
USD Dollar (USD) – The Dollar fell against all major currencies after Federal Reserve Chairman Ben S. Bernanke said that damage from the financial crisis has left the U.S. economy growing at a slower pace than policy makers want, even though the central bank’s more than $1 trillion in bond purchases have reduced interest rates. The NASDAQ and Dow Jones strengthened by 2.33% and 1.86% respectively, crude oil jumped by 2.0%, closing at $76.50 a barrel. Gold (XAU) rose to a new record during the session (above $1300), and in the end, strengthened by 0.1% to close at $1298 an ounce. No economic data is expected today.
EURO (EUR) – The Euro touched a five month high against the Dollar last Friday, as German business confidence unexpectedly rose to the highest level in more than three years in September (106.8 vs. 106.3 forecast). In addition to this, Bernanke’s declarations increased investor appetite for higher yielding assets. 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 1.3700, and the 10 moving average also supports an uptrend. Overall, EUR/USD traded with a low of 1.3286 and with a high of 1.3495. Today, ECB President Trichet will speak.
EUR/USD – Last: 1.3462
| Resistance |
1.3500 |
|
|
| Support |
1.3440 |
1.3285 |
1.3160 |
British Pound (GBP) – The Pound rallied against the Dollar in Forex Trading, closing the week at a 6 week high, as concerns over the Bank of England’s economic outlook were overshadowed by Friday’s soft U.S. economic data. 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 1.5641 and with a high of 1.5844. No economic data is expected today.
GBP/USD – Last: 1.5819
| Resistance |
1.5845 |
|
|
| Support |
1.5730 |
1.5600 |
1.5500 |
Japanese Yen (JPY) –The Yen strengthened against the Dollar after worse than expected data from US was released on Friday. Among the data were New Home Sales which came out at 288K vs. 292K forecast, Durable Goods Orders that came out at -1.3% vs. -0.9% forecast, and Bernanke’s statements regarding the economy, all of which drove investors towards the yen instead of the dollar. The USD/JPY has been fluctuating around 84.50 over the last three days, and support on the one hour chart is at 84.20. If the pair moves 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 85.39. No economic data is expected today.
USD/JPY-Last: 84.24
| Resistance |
84.70 |
85.25 |
86.00 |
| Support |
84.10 |
|
|
Canadian dollar (CAD) – The Canadian Dollar gained for the first time in three days versus the Dollar as reports showing higher than forecast German business confidence and U.S. durable goods orders, spurred investor appetite for assets linked to growth. The momentum of the USD/CAD is still negative for the US Dollar, and as long as 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 1.0225 and with a high of 1.0355. No economic data is expected today.
USD/CAD – Last: 1.0251
| Resistance |
1.0280 |
1.0350 |
1.0380 |
| Support |
1.0225 |
1.0195 |
|
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Posted by admin on September 24, 2010 under forex market |
USD Dollar (USD) – The Dollar gained against most of the major currencies in Forex Trading after the Initial Jobless Claims came out 465k worse than expected 450k. The Existing Home Sales came out 4.13M, better than the expected 4.04M and trimmed part of the dollar gains. Stock Markets closed negative with Dow Jones losing -0.72% and NASDAQ fell by -0.32%. Crude Oil gained 0.6% and closed at 75$ a barrel. Gold (XAU) closed another positive day adding 0.3% and closed at 1292$ an ounce. Today, the Core Durable Goods are expected at 0.7% vs. -3.7% previously. The New Home Sales are expected at 290k vs. 276k previously.
EURO (EUR) – The Euro fell against the dollar after the macro data showed that the German Manufacturing PMI came out 55.3 worse than expected 57.8 and the Manufacturing PMI came out 53.6 also worse than expected 54.6. Holding above the 1.3240 support level keeps the momentum positive for the pair. Overall, EUR/USD traded with a low of 1.3285 and with a high of 1.3414. Today, the German Ifo Business Climate Index is expected at 106.3 vs. 106.7 previously.
EUR/USD – Last: 1.3333
| Resistance |
1.3360 |
1.3440 |
|
| Support |
1.3305 |
1.3240 |
|
British Pound (GBP) – The Pound posted small gains against the dollar with another failed attempt to breach the 1.5730 resistance level and retreated again below the 1.57 zone. The BBA Mortgage Approvals came out 31.8K worse than expected 32.3k. Holding above the 1.56 support level keeps the momentum positive for the pair. Overall, GBP/USD traded with a low of 1.5610 and with a high of 1.5740. No economic data is expected today.
GBP/USD – Last: 1.5670
| Resistance |
1.57 |
1.5730 |
|
| Support |
1.5600 |
1.5500 |
|
Japanese Yen (JPY) – The USD/JPY pair traded in very tight range fluctuating between the support level at 84.30 and bouncing to 84.70 resistances area as the banks in Japan were closed. Trading above the support level of 83.80 keeps the momentum positive for the pair. Overall, USD/JPY traded with a low of 84.25 and with a high of 84.66. No economic data is expected today.
USD/JPY-Last: 85.20
| Resistance |
85.25 |
85.90 |
|
| Support |
84.70 |
84.30 |
|
Canadian dollar (CAD) – The U.S. dollar gained against Canada’s dollar as reports in Europe and U.S. added to risk aversion of investors on concern of the stability of the global economic recovery. Breaching the 1.0350 resistance level might push the pair higher. Overall, USD/CAD traded with a low of 1.0283 and with a high of 1.0377. No economic data is expected today.
USD/CAD – Last: 1.0330
| Resistance |
1.0320 |
1.0350 |
1.0400 |
| Support |
1.0270 |
1.0220 |
|
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 23, 2010 under forex market |
USD Dollar (USD) – The dollar continued to slump across the board in Forex Trading, following the FED’s statement suggesting a further easing of monetary policy is in the works in order to help support the weakening economy. Stock Markets closed negative with the Dow Jones losing 0.2% and the NASDAQ falling by 0.63%. Crude Oil weakened by 0.3% and closed at $74.70 a barrel. Gold (XAU) traded at record high levels after it jumped by 1.4% and closed at $1292 an ounce. Today, the Initial Jobless Claims report is expected unchanged at 450K. The Existing Home Sales are expected at 4.04M vs. 3.83M previously.
EURO (EUR) – The Euro extended its rally against the dollar and reached a 5 month high. The Industrial New Orders, which came out at -2.4% – worse than the expected -1.2%, could not stop the positive wave in the euro. Breaching the 1.3440 resistance level might push the pair higher. Overall, EUR/USD traded with a low of 1.3246 and with a high of 1.3440. Today, the German Manufacturing PMI is expected at 57.8 vs. 58.2 previously. The Manufacturing PMI is expected at 54.6 vs. 55.1 previously.
EUR/USD – Last: 1.3394
| Resistance |
1.3440 |
|
|
| Support |
1.3360 |
1.3305 |
1.3240 |
British Pound (GBP) – The Pound gained versus the dollar following the main trend of dollar weakness in the markets, although it is not accelerating as strong as other currencies and it is still capped by sell orders that keep the pair below the 1.57 zone. Breaching the 1.5730 resistance level might push the pair higher. Overall, GBP/USD traded with a low of 1.5600 and with a high of 1.5714. Today, the BBA Mortgage Approvals are expected at 32.3K vs. 33.7k previously.
GBP/USD – Last: 1.5650
| Resistance |
1.5685 |
1.5730 |
|
| Support |
1.5600 |
1.5500 |
|
Japanese Yen (JPY) – The Yen gained versus the dollar for a second day but still the USD/JPY pair trading firmly above from its 15 year low level around the 83 zone. Trading above the support level of 83.80 keeps the momentum positive for the pair. Overall, USD/JPY traded with a low of 84.25 and with a high of 85.17. Today, Japanese banks will be closed in observance of Autumnal Equinox Day.
USD/JPY-Last: 84.62
| Resistance |
84.70 |
85.25 |
85.90 |
| Support |
84.30 |
83.80 |
|
Canadian dollar (CAD) – Canada’s dollar managed to gain at the end of the day versus the U.S. dollar despite the disappointing macro data as the Core Retail Sales came out -0.4% worse than expected 0.5% and the Leading Index came out 0.5% worse than expected 0.6%. Holding above the support level of 1.0220 levels keeps the momentum positive for the pair. Overall, USD/CAD traded with a low of 1.0283 and with a high of 1.0344. No economic data is expected today.
USD/CAD – Last: 1.0295
| Resistance |
1.0320 |
1.0350 |
|
| Support |
1.0270 |
1.0220 |
|
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
