Posted by admin on October 29, 2010 under forex market | 
USD Dollar (USD) – The Dollar lost gains across the board in Forex Trading as investors preferred to invest in higher yielding assets in a volatile trading session as traders expect to FED’s monetary policy meeting next week. The Initial Jobless Claims came out 434k better than expected 455k. The Stock Markets in U.S. closed mixed with Dow Jones losing -0.11% and the NASDAQ advanced by 0.16%. Crude Oil closed with no significant change from yesterday at 82$ a barrel. Gold (XAU) gained and jumped back to 1343$ an ounce as investors choose to turn back to safe haven gold. Today, the GDP is expected at 2% vs. 1.7% previously. Chicago PMI is expected at 57.5 vs. 60.40 previously. The Michigan Consumer Sentiment Index is expected at 68 vs. 67.9 previously.
Euro (EUR) – The Euro jumped up again to the 1.39 zone, covering previous 2 days loses. The fluctuation is still valid till some fresh news will cause the pair to break through to new prices. Holding above the support level of 1.3880 keeps the momentum positive for the pair. Overall, EUR/USD traded with a low of 1.3763 and with a high of 1.3944. Today, the CPI is expected at 1.7% vs. 1.8% previously. The Unemployment Rate is expected unchanged at 10.10%.
EUR/USD – Last: 1.3900
| Resistance |
1.3980 |
1.4040 |
|
| Support |
1.3880 |
1.3840 |
1.3740 |
British Pound (GBP) – The Pound gained versus the dollar and attempting once again to approach the 1.6 area. More optimism was seen for the Sterling as speculations that BOE will delay another round of asset purchases. The Nationwide HPI came out -0.7% worse than expected -0.3%. The CBI Realized Sales came out 36 worse than expected 40. Holding above the support level of 1.59 keeps the momentum positive for the pair. Overall, GBP/USD traded with a low of 1.5760 and with a high of 1.5977. Today, the net lending to individuals is expected at 0.9B vs. 1.5B previously.
GBP/USD – Last: 1.5945
| Resistance |
1.5980 |
1.6070 |
|
| Support |
1.5900 |
1.5820 |
1.5760 |
Japanese Yen (JPY) – The Japanese Yen gained versus the Dollar and the pair fell again to the 81 area from 82 on speculation that the FED will keep supporting the stimulus and by that reducing the demand for U.S. assets. The Interest Rate Decision came out unchanged as expected at 0.1%. The Tokyo Core CPI came out -0.5% better than expected -0.8%. Breaking the support level of 80.40 might push the pair to new lows. Overall, USD/JPY traded with a low of 80.82 and with a high of 81.76. No economic data is expected today.
USD/JPY-Last: 80.58
| Resistance |
80.90 |
82.00 |
82.30 |
| Support |
80.40 |
|
|
Canadian dollar (CAD) – Canada’s dollar gained versus the U.S. dollar as weakness of the greenback was seen across the board but still the pair is supported by the 1.02 zone. Holding above the 1.0160 support level might rebound the pair back to 1.03 zones and push it higher. Overall, USD/CAD traded with a low of 1.0180 and with a high of 1.0285. Today, the GDP is expected at 0.3% vs. -0.1% previously.
USD/CAD – Last: 1.0212
| Resistance |
1.0220 |
1.0340 |
|
| Support |
1.0160 |
1.0080 |
|
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 October 28, 2010 under forex market |
USD Dollar (USD) – The Dollar strengthened across the board in Forex trading, as stocks in the U.S. approached session lows. Core Durable Goods Orders came out at -0.8%, worse than the expected 0.2%. New Home Sales came out at 307K better than the expected 300K. The Stock Markets in the U.S. closed mixed with the Dow Jones losing 0.39% and the NASDAQ advancing by 0.24%. Crude Oil fell by 0.7%, closing near $82 a barrel. Gold (XAU) also declined and closed at $1325 an ounce. Today, The Initial Jobless Claims report is expected at 455k vs. 452k previously.
Euro (EUR) – The Euro weakened against the Dollar for a second day in a row, although the German CPI came out unchanged at 0.1%. Holding above the 1.3740 support level might rebound the pair back to 1.38 zones and push it higher. Overall, EUR/USD traded with a low of 1.3733 and with a high of 1.3877. Today, ECB President Trichet will speak.
EUR/USD – Last: 1.3824
| Resistance |
1.3840 |
1.3880 |
1.3980 |
| Support |
1.3740 |
1.3700 |
|
British Pound (GBP) – The Pound weakened against the dollar and almost erased all the previous day’s gains. The pair weakened after negative a Wall Street opening and strengthening of the Dollar across the board. Holding above the 1.57 support level might rebound the pair back to 1.58 zones and push it higher. Overall, GBP/USD traded with a low of 1.5728 and with a high of 1.5863. Today, the Nationwide HPI is expected at -0.3% vs. 0.1% previously. CBI Realized Sales are expected at 44 vs. 49 previously.
GBP/USD – Last: 1.5803
| Resistance |
1.5900 |
1.5945 |
|
| Support |
1.5755 |
1.5685 |
1.5650 |
Japanese Yen (JPY) – The Dollar gained versus the Yen for a second day in a row but still seems capped under the 82 zone. Retail Sales came out at 1.2%, worse than the expected 3.2%. Breaching the 82 resistance level in the pair might fuel a positive trend for the USD/JPY. Overall, USD/JPY traded with a low of 81.30 and with a high of 81.97. Today, the Interest Rate Decision is expected unchanged at 0.1%. The Tokyo Core CPI is expected at -0.8% vs. -1% previously.
USD/JPY-Last: 81.56
| Resistance |
82.00 |
82.30 |
|
| Support |
81.50 |
80.90 |
|
Canadian dollar (CAD) – Canada’s dollar weakened for a second day against the U.S. Dollar as the USD strengthened against all of its major counterparts on speculation that bond buying by the FED will be less than expected. Breaching the 1.0340 resistance level in the pair might fuel a positive trend for the USD/CAD. Overall, USD/CAD traded with a low of 1.0225 and with a high of 1.0337. No economic data is expected today.
USD/CAD – Last: 1.0267
| Resistance |
1.0300 |
1.0340 |
|
| Support |
1.0220 |
1.0160 |
|
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 October 27, 2010 under forex market |
USD Dollar (USD) – The Dollar strengthened versus most major currencies in Forex trading after U.S. consumer confidence rose more than expected in October, 50.2 vs. 49.3 forecast. This rise from a seven month low encourage investors to prefer the Dollar instead other assets. The NASDAQ and Dow Jones advanced by 0.26% and 0.05% respectively. Crude oil declined by 0.1%, closing at $82.55 a barrel and Gold (XAU) decreased by 0.1%, closing at $1338.60 an ounce. Today, Core Durable Goods Orders are expected to decline from 1.7% to 0.1%, and New Home Sales are expected at 295K vs. 288K prior.
Euro (EUR) – The Euro weakened against the Dollar for the first time in three days on speculation that an increase in debt purchases by the Federal Reserve will cause inflation to accelerate. The EUR/USD has been fluctuating around 1.3800 to 1.3900 levels during the past week, and therefore, the trend is not clear. Only if the pair crosses the 1.3950 line, will the Euro continue with its positive trend. Overall, EUR/USD traded with a low of 1.3825 and with a high of 1.3982. Today, German Prelim CPI is expected to rise from -0.10% to 0.10%.
EUR/USD – Last: 1.3811
| Resistance |
1.3878 |
1.3982 |
1.4080 |
| Support |
1.3750 |
1.3700 |
|
British Pound (GBP) – The Pound rose after the U.K. economy grew at double the pace economists had forecast for the third quarter, with GDP coming out at 0.8% vs. an expected 0.4%. The resistance of the GBP/USD on the one hour chart is 1.5900, and as long as the pair is trading below this level, the momentum is still negative for the pound. Overall, GBP/USD traded with a low of 1.5706 and with a high of 1.5896. No economic data is expected today.
GBP/USD – Last: 1.5822
| Resistance |
1.5900 |
1.5945 |
|
| Support |
1.5755 |
1.5685 |
1.5650 |
Japanese Yen (JPY) –The Yen slid from almost its strongest level in 15 years against the dollar amid concerns that Japanese authorities may renew action to weaken the currency. The USD/JPY has been trading around 81.00-81.50 area in the last few days and the main support line on the daily chart is located at 80.40. The momentum is still bearish as long as it‘s trading below the 10 moving average. Overall, USD/JPY traded with a low of 80.61 and with a high of 81.65. No economic data is expected today.
USD/JPY-Last: 81.74
| Resistance |
82.00 |
|
|
| Support |
81.30 |
80.80 |
80.45 |
Canadian dollar (CAD) – The Canadian Dollar weakened against the Dollar for the first time in three days as stocks and raw materials declined, reducing demand for currencies tied to economic growth. The support level of the USD/CAD on the daily chart is located at 1.0150, and if the USD/CAD breaks below this price level, a short position is preferred. Overall, USD/CAD traded with a low of 1.0181 and with a high of 1.0266. Today, BOC Gov Carney Speaks.
USD/CAD – Last: 1.0265
| Resistance |
1.0300 |
1.0355 |
|
| Support |
1.0210 |
1.0160 |
|
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
