Posted by admin on November 30, 2010 under forex market | 
USD Dollar (USD) – The Dollar gained against the major currencies in Forex trading as euro-zone concerns remained in focus, leading investors towards risk aversion. The Stock Market in the U.S. closed negative as the Dow Jones decreased by -0.36% and the NASDAQ lost -0.37%. Crude Oil soared by 2.4%, closing at $85.70 a barrel. Gold (XAU) posted small gains of 0.3% and closed at $1366 an ounce. Today, The Chicago PMI is expected at 59.8 vs. 60.60 previously. The CB Consumer Confidence is expected at 52 vs. 50.2 previously. FED Chairman Bernanke is also expected to speak.
Euro (EUR) – The Euro fell to a fresh 2 month low against the dollar on concerns that Portugal and Spain will follow Ireland’s lead, hence investors moved to sell the European currency. Holding above the support level of 1.3050 might push the pair upwards as oversold conditions are seen in the pair. Overall, EUR/USD traded with a low of 1.3063 and with a high of 1.3354. Today, The German Unemployment Change is expected at -20k vs. -3k previously. The CPI is expected unchanged at 1.9%. The Unemployment rate is expected unchanged at 10.1%. ECB President Trichet’s speech is also expected.
EUR/USD – Last: 1.3084
| Resistance |
1.3150 |
1.3200 |
1.3300 |
| Support |
1.3060 |
|
|
British Pound (GBP) – The Pound slightly weakened against the dollar, but is still fluctuating around the support area of 1.5550. The British currency has also been affected by the events in the euro zone. The Net Lending to Individuals came out at 1.3B, better than the expected 0.8B. The GfK Consumer Confidence came out at -21, worse than the expected -19. Holding above the support level of 1.5550 might push the pair upwards as oversold conditions are seen in the pair. Overall, GBP/USD traded with a low of 1.5526 and with a high of 1.5646. No economic data is expected today.
GBP/USD – Last: 1.5535
| Resistance |
1.5580 |
1.5640 |
1.5730 |
| Support |
1.5525 |
|
|
Japanese Yen (JPY) – The Dollar is gathering more power against the Yen on a quiet session in the pair. The Unemployment rate came out at 5.1% worse than the expected 5%. The Prelim Industrial Production came out at -1.8%, better than the expected -2.6%. Holding above the 84.2 support level might push the pair to strengthen further. Overall, USD/JPY traded with a low of 83.75 and with a high of 84.39. No economic data is expected today.
USD/JPY-Last: 84.10
| Resistance |
84.20 |
84.40 |
|
| Support |
83.80 |
83.55 |
83.25 |
Canadian dollar (CAD) – Canada’s dollar gained against the U.S. Dollar as Crude Oil, the nation’s biggest export, jumped more than 2% to a 2 week high level. The Current Account index came out at -17.5B, worse than the expected -15.2B. Breaching the 1.0240 resistance level might rebound the pair and push it upwards. Overall, USD/CAD traded with a low of 1.0142 and with a high of 1.0256. Today, the GDP is expected at 0.1% vs. 0.3% previously.
USD/CAD – Last: 1.0198
| Resistance |
1.0260 |
|
|
| Support |
1.0160 |
1.0080 |
1.0030 |
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Posted by admin on November 29, 2010 under forex market |
USD Dollar (USD) – The Dollar gained across the board on Friday as European debt worries extended on concerns that Portugal and Spain will follow the lead of Greece and Ireland. These fears sent investors to the safe haven currencies like the greenback. The Stock Market in the U.S. closed negative as the Dow Jones decreased by -0.85% and the NASDAQ lost -0.34%. Crude Oil closed almost unchanged, fluctuating around the $84 level. Gold (XAU) lost -0.8% and closed at $1362.40 an ounce. No economic data is expected today.
Euro (EUR) – The Euro fell against the dollar in Forex trading on Friday as it reached the 1.32 zone on pressure that continued in the Euro zone. However, after an 85 billion euro aid package agreed to between Ireland and the EU/IMF, the market opened positive this week and the pair jumped above the 1.3340 levels. Ultimately, the pair failed to hold those levels and was crushed below the 1.32 area, reaching new 9 week lows. The German Prelim CPI came out at 0.1%, worse than the expected 0.2%. Holding above the support level of 1.3170 might push the pair upwards as oversold conditions are seen in the pair. Overall, EUR/USD traded with a low of 1.3181 and with a high of 1.3362. No economic data is expected today.
EUR/USD – Last: 1.3230
| Resistance |
1.3260 |
1.3290 |
1.3420 |
| Support |
1.3180 |
|
|
British Pound (GBP) – The Pound weakened against the dollar reaching 10 week lows as the markets opened this week. The Pound found support around the 1.5550 zones and then bounced back above the 1.56 area. Holding above the support level of 1.5550 might push the pair upwards as oversold conditions are seen in the pair. Overall, the GBP/USD traded with a low of 1.5558 and with a high of 1.5770. Today, Net Lending to Individuals is expected at 0.8B vs. 0.4B previously. The GfK Consumer Confidence report is expected unchanged at -19.
GBP/USD – Last: 1.5600
| Resistance |
1.5640 |
1.5730 |
1.5840 |
| Support |
1.5560 |
|
|
Japanese Yen (JPY) – The Dollar is gathering more power against the Yen and is furthering from the 80 levels at a low and safe pace approaching the 84 zone. Breaching above the 84.2 resistance level might push the pair for further strength. Overall, USD/JPY traded with a low of 83.54 and with a high of 84.18. Today, The Unemployment rate is expected unchanged at 5%. The Prelim Industrial Production is expected at -3.2% vs. -1.6% previously.
USD/JPY-Last: 84.11
| Resistance |
84.20 |
|
|
| Support |
84.00 |
83.80 |
83.55 |
Canadian dollar (CAD) – The Dollar gained against Canada’s dollar as concerns on the Euro zone debt crisis and conflict between North & South Korea boosted demand for safer assets, and risk aversion was seen. Breaching the 1.0240 resistance level might extend the pairs bullish momentum. Overall, USD/CAD traded with a low of 1.0083 and with a high of 1.0245. Today, the Current Account index is expected at -15.2B vs. -11B previously.
USD/CAD – Last: 1.0203
| Resistance |
1.0260 |
|
|
| Support |
1.0160 |
1.0080 |
1.0030 |
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 November 26, 2010 under forex market |
USD Dollar (USD) – The Dollar continued to rise versus most majors after mixed data was released such as initial jobless claims which came 407K vs. 434K forecast and New Home Sales that came 283K vs. 311K , also the concern on the European zone debit succeeded to support a stronger Dollar . NASDAQ and Dow Jones strengthened by 1.93% and 1.37% respectively, crude oil jumped by 3.2%, closing at 83.86$ a barrel, Gold (XAU) weakened by 0.3%, closing at 1373$ an ounce ,a new historic record. No economic data expected today due to bank holiday in US.
Euro (EUR) – The Euro traded near a two month low versus the Dollar in Forex trading, as concern the sovereign debt crisis will extend and Industrial New Orders that came worse than expected at -3.8% vs. -2.6% forecast, led the investors to sell the Euro. The EUR/USD has had a very negative trend in the last three days, as long the price is below 1.3500 levels a short position is preferred. Overall, EUR/USD traded with a low of 1.3284 and with a high of 1.3421. No economic data expected today.
EUR/USD – Last: 1.3331
| Resistance |
1.3420 |
1.3600 |
1.3785 |
| Support |
1.3300 |
|
|
British Pound (GBP) – The Pound fluctuated versus the Dollar as a mix data from UK and US were released during the sessions, causing the pair to close almost unchanged. GDP remain unchanged at 0.8%. As long the GBP/USD is trading below 1.6000 the momentum is bearish and a short position is preferred, the next support level on the one hour chart is 1.5740 levels. Overall, GBP/USD traded with a low of 1.5741 and with a high of 1.5837. Today, BOE Gov King Speaks, CBI Realized Sales are expected at 35.0 vs. 36.0 prior.
GBP/USD – Last: 1.5766
| Resistance |
1.5840 |
1.5965 |
1.6085 |
| Support |
1.5750 |
|
|
Japanese Yen (JPY) –The Yen weakened against the Dollar as positive momentum of the Dollar owing to the European debt in the last days and a positive data that released yesterday in US supported a stronger Dollar. The USD/JPY has been trading around 83.00 – 83.80 area in the past few days, only if the pair breaks this levels we will see a momentum. Overall, USD/JPY traded with a low of 82.94 and with a high of 83.66. No economic data expected today.
USD/JPY-Last: 83.51
| Resistance |
83.60 |
83.80 |
|
| Support |
83.30 |
83.10 |
82.80 |
Canadian dollar (CAD) – The Canadian Dollar rose the most since September versus the Dollar as investor risk aversion declined on optimism the nation’s economic recovery will strengthen and the oil price which rose sharply during the session drifting the Canadian as well. The resistance level of the USD/CAD on the four hours chart is located at 1.0250, as long the price is trading below this level a short position is preferred .Overall, USD/CAD traded with a low of 1.0091 and with a high of 1.0224. No economic data expected today.
USD/CAD – Last: 1.0094
| Resistance |
1.0125 |
1.0225 |
1.0265 |
| Support |
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
