Posted by admin on October 26, 2010 under forex market | 
USD Dollar (USD) – The Dollar remained down against most of the major currencies despite home sales data being better the expected at 4.53M vs 4.25M forecast. The dollar continues to be in the shadow of the G20 summit, remaining weak against the majors in Forex trading. The NASDAQ and Dow Jones advanced by 0.46% and 0.28%, respectively. Crude oil gained 1%, closing at $82.52 a barrel, and Gold (XAU) increased by 1.1%, closing at $1340 an ounce. Today, CB Consumer Confidence is expected at 49.00 vs. 48.5 prior.
Euro (EUR) – The Euro strengthened against the dollar with Industrial New Orders exceeding expectation at 5.3% vs 2.1% prior, resulting in a stronger Euro. The last few days have seen the pair within a daily range, with a support of 1.3856 and a resistance of 1.4049. As long as the pair remains above levels of 1.3900, the trend will remain positive. Overall, EUR/USD traded with a low of 1.3935 and with a high of 1.4079. No economic data is expected today.
EUR/USD – Last: 1.39619
| Resistance |
1.3972 |
1.4039 |
1.4080 |
| Support |
1.3907 |
1.3856 |
|
British Pound (GBP) – The Pound strengthened against the dollar despite the Mortgage Approvals coming out worse than expected at 31.1K vs. 31.6K forecast. The buyers outweighed the sellers in search for higher yielding assets in the GBP. The momentum for the pound remains negative despite the pair’s efforts to break the daily moving average at around 1.5776. The trend continues to be bearish with a strong support of 1.5650. Overall, GBP/USD traded with a low of 1.5677 and with a high of 1.5772. Today, Prelim GDP q/q is expected 0.4% vs. 1.2% prior, and later on MPC Member Posen will speak.
GBP/USD – Last: 1.5731
| Resistance |
1.5749 |
1.5772 |
|
| Support |
1.5715 |
1.5689 |
|
Japanese Yen (JPY) –The Yen reached a 15 year high against the dollar. The dollar weakened against all the major currencies today, which only supported a stronger Yen. The Yen continued to strengthen against the dollar for the sixth consecutive day and reached highs that were last seen in 1995. The trend on the pair is still bearish, although we might see some minor corrections. Overall, USD/JPY traded with a low of 80.40 and with a high of 81.32. No economic data is expected today.
USD/JPY-Last: 80.78
| Resistance |
80.83 |
80.90 |
|
| Support |
80.65 |
80.40 |
|
Canadian dollar (CAD) – The Canadian Dollar strengthened to reach a weekly high against the US dollar as a result of government reports last week that hinted about inflation and retail sales exceeding economist expectations. The strengthened commodities support a strong Canadian dollar. The USD/CAD broke its moving average and entered its second day of negative performance; the trend continues to be bearish below the level 1.0220. Overall, USD/CAD traded with a low of 1.0154 and with a high of 1.0258. Today, BOC Gov Carney Speaks.
USD/CAD – Last: 1.0199
| Resistance |
1.0208 |
1.0236 |
|
| Support |
1.0178 |
1.0162 |
1.0154 |
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Posted by admin on October 25, 2010 under forex market |
USD Dollar (USD) – The Dollar was mixed in Forex trading on Friday, as investors waited to see the outlook of the G20 summit, which vowed in the end to avoid weakening currencies to encourage exports. The NASDAQ advanced by 0.80% and the Dow Jones weakened by 0.13%. Crude oil rose by 1.4%, closing at $81.69 a barrel. Gold (XAU) decreased by $0.50, closing at $1325 an ounce. Today, Fed Chairman Bernanke Speaks, and Existing Home Sales are expected to rise from 4.13M to 4.25M.
Euro (EUR) – The Euro rose against the Dollar after the Group of 20 finance ministers and central bankers vowed to refrain from weakening currencies to support exports. The EUR/USD has fluctuated around 1.3900 levels during the past week, and as long as it’s above 1.3900 levels, the momentum continues to be positive for the Euro. Overall, EUR/USD traded with a low of 1.3858 and with a high of 1.3972. Today, Industrial New Orders are expected at 2.1% vs. -2.0% prior.
EUR/USD – Last: 1.4033
| Resistance |
1.4050 |
1.4160 |
|
| Support |
1.3855 |
1.3700 |
|
British Pound (GBP) – The Pound traded its biggest weekly loss against the dollar since August. This comes on speculation that this weekend’s Group of 20 meeting in South Korea may result in an accord that will support the Dollar more than the pound. The trend of the GBP/USD on the daily chart has been bearish over the last few days, but still facing a support around 1.5600. Overall, GBP/USD traded with a low of 1.5651 and with a high of 1.5750. Today, BBA Mortgage Approvals are expected at 31.60K vs. 31.80K prior.
GBP/USD – Last: 1.5746
| Resistance |
1.5878 |
1.6000 |
1.6110 |
| Support |
1.5650 |
|
|
Japanese Yen (JPY) –The Yen closed almost unchanged against the Dollar after the resolutions of the G20. The USD/JPY has been trading around 81.00-81.50 area in the last few days. The main support line on the daily chart is located at 81.00 and the momentum is still bearish as long as it‘s trading below the 10 moving average. Overall, USD/JPY traded with a low of 80.99 and with a high of 81.50. No economic data is expected today.
USD/JPY-Last: 81.06
| Resistance |
81.50 |
82.00 |
|
| Support |
80.85 |
|
|
Canadian Dollar (CAD) – The Canadian Dollar fluctuated against the Dollar as the Bank of Canada signaled interest rate increases are on hold as the nation’s economic recovery may be weaker than expected. The support level of the USD/CAD on the daily chart is located at 1.0200, and if the USD/CAD breaks below this level, a short position is preferred. Overall, USD/CAD traded with a low of 1.0223 and with a high of 1.0302. No economic data is expected today.
USD/CAD – Last: 1.0210
| Resistance |
1.0300 |
1.0375 |
|
| Support |
1.0165 |
1.0090 |
1.0000 |
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 22, 2010 under forex market |
USD Dollar (USD) – The Dollar strengthened against most of the majors currencies in Forex trading. A positive economic forecast has published by the beige book earlier this week and effected on the Dollar for the last day. The Stock Markets in U.S. closed positive while the Dow increased by 0.35% and the Nasdaq rose by 0.09%. The Commodities weakened against the Dollar, Crude Oil by 2.4% closing at 80.56$ a barrel. Gold (XAU) decreased by 1.4% closing at 1,325 $ an ounce. Today, no economic data is expected.
Euro (EUR) – The Euro weakened against the Dollar although the manufacturing PMI came out 54.10 better than expected 53.20. The forecast of Deutsche Bank for the Dollar against the Euro is clearly negative for the first quarter of the next year. Expecting a bullish trend as long as the pair is above 1.3860. Overall, EUR/USD traded with a low of 1.3871 and with a high of 1.4050. Today, the German Ifo Business Climate Index is expected at 106.50 vs. 106.80 previously.
EUR/USD – Last: 1.3971
| Resistance |
1.3971 |
1.4050 |
|
| Support |
1.3894 |
1.3696 |
|
British Pound (GBP) – The Pound fell against the Dollar after the Retail Sales came out at -0.20% worse than expected 0.40%. Trading below 1.5780 resistance level will keep the momentum of the day negative for the pair. Overall, GBP/USD traded at a low of 1.5685 and a high of 1.5849. Today, no economic data is expected.
GBP/USD – Last: 1.5746
| Resistance |
1.5787 |
1.5869 |
1.5944 |
| Support |
1.5691 |
1.5650 |
|
Japanese Yen (JPY) – The yen fell against the dollar and had a strong brake from the dollar side, although the pair still traded close to the low of the 15 years. Trading below the resistance level 81.35 will return the momentum to be positive for the Yen. Overall the USD/JPY traded at low of 80.92 and a high of 81.82. No major economic data is expected today.
USD/JPY-Last: 81.14
| Resistance |
81.35 |
81.64 |
|
| Support |
80.12 |
80.83 |
|
Canadian dollars (CAD) – The loonie decreased against the green back by 0.6 percent to 1.0267 after the Leading Indicators came out -0.10% worse than expected 0.20% . The USD/CAD pair seems to be on a bullish trend as long as the pair remains above the 1.0225 support level on the 1 Hr chart. Overall, USD/CAD traded with a low of 1.0167 and with a high of 1.0302. Today, the Core CPI is expected at 0.30% vs. 0.10% previously and the Core Retail Sales is expected at 0.50% vs. -0.40% last time.
USD/CAD – Last: 1.0243
| Resistance |
1.0298 |
1.0348 |
|
| Support |
1.0207 |
1.0168 |
|
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
