Posted by admin on November 22, 2010 under forex market | 
USD Dollar (USD) – The dollar weakened against most of the major currencies in Forex trading despite positive economic data from last week. The fact that Irish leaders welcomed “substantial contingency capital funding” for Irish banks, finally gave some certainty to the market and saw the dollar weaken. The Stock Markets in the U.S. closed with the Dow Jones gaining by 0.20% and the NASDAQ increasing by 0.15%. Crude Oil weakened by 0.4% and closed at $81.51 a barrel. Gold (XAU) also fell by 0.1% and closed at $1352.30 an ounce. Today no economic data is expected.
Euro (EUR) – The Euro strengthened against the dollar as Brian Lenihan, the Irish finance minister, said he would welcome a “substantial contingency capital funding” mechanism for Irish banks and the French president volunteered to help the Irish country –who had accept the help . The German PPI came out 0.40% better than the expected 0.30%. With The pair returning to above the level of 1.3700 the trend is bullish and a long position is preferred. Overall, EUR/USD traded with a low of 1.3608 and with a high of 1.3744. Today, ECB President Trichet is expected to speak and Consumer Confidence is expected at -10.00 vs. -11.00 prior.
EUR/USD – Last: 1.3753
| Resistance |
1.3820 |
|
|
| Support |
1.3719 |
1.3651 |
1.3600 |
British Pound (GBP) – The British Pound fell against the U.S dollar and returned to the 1.5900 area. As long as the GBP/USD remains below 1.6000, the trend seems to be negative and a short position is preferred. Overall, GBP/USD traded with a low of 1.5936 and with a high of 1.6094. No economic data is expected today.
GBP/USD – Last: 1.6009
| Resistance |
1.6070 |
1.6143 |
|
| Support |
1.5937 |
1.5872 |
|
Japanese Yen (JPY) – The Yen continued to weaken against the dollar as economic data from the US favored the Dollar over the Yen. Today’s gains puts the pair back on to its strong rally. Through the day, the pair traded in a tight range until breaking out at 83.40. Although the trend is still strongly bullish, the pair seems to constantly get caught in a range, capturing the breakout may be a preferred strategy. The All Industries Activity Index came out at -0.80%, worse than the expected -0.60%. With the pair trading above 83.00, a long position is advised. Overall, USD/JPY traded with a low of 83.37 and with a high of 83.52. No economic data is expected today.
USD/JPY-Last: 83.41
| Resistance |
83.64 |
83.78 |
|
| Support |
83.14 |
82.77 |
82.39 |
Canadian dollar (CAD) – The Canadian dollar strengthened against the U.S. dollar, despite the largest five day decrease in crude oil prices since August, which reduced demand for assets related to economic growth. The trend for the pair remains slightly bullish as long as the USD/CAD trades above 1.0150. Overall, USD/CAD traded with a low of 1.0156 and with a high of 1.0234. No economic data is expected today.
USD/CAD – Last: 1.0139
| Resistance |
1.0222 |
1.0256 |
|
| Support |
1.0119 |
1.0061 |
|
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Posted by admin on November 19, 2010 under forex market |
USD Dollar (USD) – The dollar weakened against most of the major currencies in Forex trading despite positive economic data, the fact that Irish leaders welcomed “substantial contingency capital funding” for Irish banks finally gave some certainty to the market and saw the dollar weaken. Unemployment Claims came out better than expected at 439.00K vs. 442.00K. The Philly Fed Manufacturing Index was also much stronger than expected at a 22.50 vs. 4.50. The Stock Markets in U.S. closed with the Dow Jones gaining by 1.57% and the NASDAQ increasing by 1.55%. Crude Oil strengthened by 1.8% and closed at $81.85 a barrel. Gold (XAU) also gained by 1.2% and closed at $1353 an ounce. Today, Fed Chairman Bernanke is expected to speak.
Euro (EUR) – The Euro strengthened against the dollar as Brian Lenihan Irish finance minister said he would welcome a “substantial contingency capital funding” mechanism for Irish banks. The idea of contingency funds is welcomed more politically far more for banks than for states. The euro rallied more than 100 pips against the USD. The current account came out worse than expected at -13.10B vs -2.20 expected. With The pair returning to above the level of 1.3600 the trend is bullish and a long position is preferred. Overall, EUR/USD traded with a low of 1.3542 and with a high of 1.3667. Today, ECB President Trichet is expected to speak.
EUR/USD – Last:1.3612
| Resistance |
1.3630 |
1.3660 |
|
| Support |
1.3600 |
1.3555 |
1.3508 |
British Pound (GBP) – The Pound continued to strengthen against the dollar and climbed back to hold above 1.6000 levels. Public Sector Net Borrowing came out greater than expected at 9.80B vs. 8.90B. Retail sales also came out greater then expect at 0.50% vs 0.20%. As long as the pair GBP/USD remains above 1.5950 the trend seems to be positive and a long position is preferred. Overall, GBP/USD traded with a low of 1.5887 and with a high of 1.6056. No economic data is expected today.
GBP/USD – Last: 1.6025
| Resistance |
1.6049 |
1.6087 |
|
| Support |
1.6010 |
1.5979 |
1.5945 |
Japanese Yen (JPY) – The Yen continued to weaken against the dollar as economic data from the US favored the Dollar over the Yen. Today’s gain puts the pair back on to its strong rally. Through the day the pair traded with a tight range until breaking out at 83.40. Although the trend is still strongly bullish the pair seems to constantly get caught in a range, capturing the breakout may be a preferred strategy. With the pair trading above 82.70 a long position is advised. Overall, USD/JPY traded with a low of 83.09 and with a high of 83.78. No economic data is expected today.
USD/JPY-Last: 83.40
| Resistance |
83.60 |
83.78 |
|
| Support |
83.40 |
83.10 |
83.00 |
Canadian dollar (CAD) – The Canadian dollar strengthened against the dollar as certainty prevailed regarding Irish debt which sent commodities and global equities to higher levels. Positive data also helped the pair’s momentum. Foreign Securities Purchases came out 12.25B vs. 9.21B and wholesale sales at 0.4% vs. 0.10%. The trend for the pair remains slightly bullish as long as the USD/CAD trades above 1.0150. Overall, USD/CAD traded with a low of 1.0155 and with a high of 1.0236. No economic data is expected today.
USD/CAD – Last: 1.0208
| Resistance |
1.0220 |
1.0260 |
|
| Support |
1.0180 |
1.0161 |
|
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 18, 2010 under forex market |
USD Dollar (USD) – The dollar weakened slightly against most of the major currencies as Building Permits came out worse than expected at 0.55M vs. 0.57M that was expected. Housing Starts came out negative at 0.52M vs. 0.59M, as well as the CPI, which was also below expections at 0.0% vs. 0.1%. The Stock Markets in the U.S. closed with the Dow Jones weakening by -0.14% and the NASDAQ increasing by +0.25%. Crude Oil continued to weaken and reached a four week low closing at $80.44 a barrel. Gold (XAU) continued it’s down momentum and fell by -0.1% and closed at $1336.90 an ounce. Today, Unemployment Claims are expected at 442K vs. 435K prior. The Philly Fed Manufacturing Index is expected at 5.1 vs. 1.0 prior. Natural Gas Storage is also to be released and is expected at 11B vs. 19B.
Euro (EUR) – The Euro strengthened slightly against the dollar as economic data from the US favored the Euro. No firm decision regarding Ireland’s debt seemed to cap the EUR/USD around the 1.3500 levels. The pair is above its moving average on the hourly chart. As long as the pair remains above 1.3525, we may see the beginning of a positive momentum for the pair. Overall, EUR/USD traded with a low of 1.3460 and with a high of 1.3565. Data regarding the Current Account is expected to be released at -2.2B vs. -7.5B, and later on in the day, ECB president Trichet is expected to speak.
EUR/USD – Last: 1.3584
| Resistance |
1.3545 |
1.3508 |
1.3460 |
| Support |
1.3590 |
1.3641 |
1.3687 |
British Pound (GBP) – The Pound regained lost ground against the dollar in Forex trading and spiked to around 1.5950 only to be knocked to lower levels. The Claimant Count Change came out much less than expected at -3.7K vs. 6.00K prior and prevented further gains. The pair barely managed to hold above 1.5900 levels and traded within a small range of less than 100 pips. Despite the minor recovery as long as the GBP/USD remain below its 1.5950 trend line, the trend is deemed bearish. Overall, GBP/USD traded with a low of 1.5854 and with a high of 1.5948. Today, Public Sector Net Borrowing is expected at 9.0B vs. 15.6B, retail sales are also expected at 0.5% vs. -0.2% prior, later on in the day MPC Member Posen is expected to speak.
GBP/USD – Last: 1.5908
| Resistance |
1.5920 |
1.5950 |
|
| Support |
1.5890 |
1.5870 |
1.5838 |
Japanese Yen (JPY) – The yen weekend against the dollar as economic data from the US came out negative, and put an end to the pairs 6 day positive rally. Although the pair dipped strongly on the daily chart, the pair’s ability to break levels above 83.00 shows the strength of the rally and buying in the dips may be a preferred strategy. As long as the USD/JPY remains above the 82.70 level, the momentum remains positive for the pair. Overall, USD/JPY traded with a low of 83.03 and with a high of 83.55. No economic data is expected today.
USD/JPY-Last: 83.30
| Resistance |
83.41 |
83.55 |
|
| Support |
83.10 |
82.85 |
82.70 |
Canadian dollar (CAD) – The Canadian dollar continued to weaken against the dollar as commodities continue to weaken, specifically crude oil which reached a four week low, making currencies linked to commodities and economic growth seem less attractive. The pair is still strongly above its moving average on the four hour chart and continues to be in a positive trend as long as the USD/CAD remains above the 1.0180 levels. Overall, USD/CAD traded with a low of 1.0181 and with a high of 1.0261. Today, Foreign Securities Purchases is to be released and is expected at 81.6B vs. 11.09 prior. Wholesale sales m/m are expected at 0.1% vs. 1.2%.
USD/CAD – Last: 1.0199
| Resistance |
1.0234 |
1.0254 |
|
| Support |
1.0180 |
1.0129 |
1.0070 |
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
