Posted by admin on December 27, 2010 under forex market | 
USD Dollar (USD) – The Dollar traded almost unchanged versus the major currencies of Forex trading as the Christmas holiday was celebrated on Friday. The Stock Markets in the U.S. were closed as well. Crude Oil was not tradable and its price remained above 91$ a barrel. Gold (XAU) fluctuated around $1380 an ounce. No economic data is expected today.
Euro (EUR) – The euro made no exception and traded for the fifth day on Friday within the same tight range, and incapable to determine further trend. As long as the EUR/USD pair remains in the 1.3050-1.32 boundaries, fluctuation will rule the pair. Overall, EUR/USD traded with a low of 1.3087 and with a high of 1.3147. No economic data is expected today.
EUR/USD – Last: 1.3125
| Resistance |
1.3200 |
1.3280 |
|
| Support |
1.3055 |
|
|
British Pound (GBP) – The Pound struggles to keep above the 1.54 zone and it seems that until the end of this year, the GBP/USD pair will remain capped under the 1.55 resistance zone. Trading above the critical support zone of 1.53 might, once again, trigger a positive wave for the pair in the midterm. Overall, GBP/USD traded with a low of 1.5414 and with a high of 1.5443. Today, UK banks will be closed for the Christmas Holiday.
GBP/USD – Last: 1.5420
| Resistance |
1.5490 |
1.5570 |
|
| Support |
1.5380 |
|
|
Japanese Yen (JPY) – The USD/JPY pair posted no change in Friday in a low volume session trading day. Holding above the key resistance level of 82.50 keeps the momentum positive for the pair and the US Dollar is more attractive for investors. Overall, USD/JPY traded with a low of 82.84 and with a high of 83.16. The Tokyo Core CPI is expected at -0.4% vs. -0.5% previously. The Retail sales are expected at 0.4% vs. -0.2% previously.
USD/JPY-Last: 82.87
| Resistance |
83.41 |
83.83 |
84.18 |
| Support |
83.05 |
|
|
Canadian dollar (CAD) – Canada’s dollar had small gains against the U.S dollar on Friday as Crude Oil was not tradable and kept high levels above $90. Holding above the 1.0040 support area keeps the momentum positive for the pair. Overall, USD/CAD traded with a low of 1.0048 and with a high of 1.0114. Today, Canadian banks will be closed for the Christmas Holiday.
USD/CAD – Last: 1.0078
| Resistance |
1.0140 |
1.0180 |
1.0210 |
| Support |
1.0100 |
1.0040 |
|
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Posted by admin on December 24, 2010 under forex market |
USD Dollar (USD) – The Dollar fell against most of the major currencies in Forex trading after the new home sales came out at 290K, worse than the expected 303K. The Core Durable Goods Orders (MoM) came out 2.40% better than expected and the initial jobless claims came out 420K better than expected 424K. The stock market closed mixed when the NASDAQ fell by 0.22% and Dow Jones strengthened by 0.12%, Crude oil rose by 1.1%, closed at 91.51$ a barrel a 2 years high- since October 2008, Gold (XAU) fell by 0.5% and closed at 1380.5$ an ounce. Today, no economic data is expected at all because of the Christmas holiday and the trading volume will be very low.
Euro (EUR) – The euro rose against the dollar after it traded near a three-week low because of bad economic data that came out from the U.S. The EUR/USD is still on a negative range, but in case the euro will rise against the dollar it will face a strong resistance according the daily chart at 1.3250 levels. Overall, EUR/USD traded with a low of 1.3055 and with a high of 1.3151. Today, No major economic data is expected.
EUR/USD – Last: 1.3127
| Resistance |
1.3150 |
1.3200 |
1.3350 |
| Support |
1.3050 |
|
|
British Pound (GBP) – The Pound rose against the dollar after it fell by 60 pips at the opening of the European market yesterday morning. We can see head and shoulders on the daily chart when the support located at 1.5400 levels, the momentum according the RSI seems to be bullish from today facing a resistance at 1.5550. Overall, GBP/USD traded with a low of 1.5373 and with a high of 1.5446. Today, no economic data is expected.
GBP/USD – Last: 1.5428
| Resistance |
1.5474 |
1.5575 |
1.6000 |
| Support |
1.5371 |
|
|
Japanese Yen (JPY) –The Yen rose against the dollar for a fourth straight day in the longest stretch of declines in more than two months as reports showed the U.S. economic recovery is gathering pace, fueling demand for the Japanese currency to fund investments in growth. The USD/JPY broke the 83.40 support level and settled at 83.00 levels. Overall, USD/JPY traded with a low of 82.85 and with a high of 83.57. No economic data is expected today.
USD/JPY-Last: 82.99
| Resistance |
83.16 |
83.40 |
83.60 |
| Support |
82.85 |
|
|
Canadian dollar (CAD) –The Canadian Dollar strengthened against the greenback as crude oil surged to the highest level in more than two years. The GDP came out 0.20% worse than expected 0.30%. The momentum of the USD/CAD is bearish for the last four days .The next support level is located at 1.0000, if the rate return up it will face a strong resistance at 1.0200. Overall, USD/CAD traded with a low of 1.0065 and with a high of 1.0165. Today, no economic data is expected.
USD/CAD – Last: 1.0087
| Resistance |
1.0128 |
1.0166 |
1.0200 |
| Support |
1.0065 |
1.0038 |
1.0000 |
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Posted by admin on December 23, 2010 under forex market |
USD Dollar (USD) – The Dollar weakened against most of the major currencies amid concerns raised earlier in the week over Moody’s ratings agency putting Portugal’s sovereign debt rating on review. On the same day, there were additional comments from China’s Vice Premier that indicated China would support the European Union debt crisis. The Existing Home Sales came out at 4.68M, worse than the expected 4.75M and the GDP came out at 2.60%, worse than the expected 2.70%. The NASDAQ and Dow Jones strengthened by 0.15% and 0.23% respectively. Crude oil rose by 0.7%, and closed at a 2 years high of $90.48 a barrel. Gold (XAU) fluctuated during the session, at the end closing at $1387.40 an ounce. Today, Core Durable Goods Orders (MoM) are expected at 1.00% vs. -2.70% previously. Initial jobless claim are expected unchanged at 424K and New Home Sales are expected at 303K vs. 283K.
Euro (EUR) – The euro traded near a three-week low against the dollar on speculation that European banks and nations will need to raise more funds, adding to signs that the region’s debt crisis may be prolonged. However, by the end of the day, the euro had strengthened against the green back. The EUR/USD is still trading in a negative range, and therefore, the momentum is bearish for the euro. The next support level on the daily chart is at 1.3000 levels, and both the RSI and the 10 moving average support a negative momentum. Overall, EUR/USD traded with a low of 1.3078 and with a high of 1.3181. Today, No major economic data is expected today.
EUR/USD – Last: 1.3112
| Resistance |
1.3149 |
1.3200 |
1.3298 |
| Support |
1.3072 |
|
|
British Pound (GBP) – The Pound weakened against most currencies in Forex trading continuing a trend started after poor data was released earlier in the week. The concerning data showed that British consumer confidence had stayed at a four month low and that Net Government Borrowing rose to 22.8 billion Pounds vs. 16.7 billion prior. The GDP came out at 0.70%, worse than the expected 0.80%. The momentum continues to be bearish for the Pound, and as long the pair remains below 1.5600 levels, a short position is preferred. The next support level on the daily chart is at 1.5300. Overall, GBP/USD traded with a low of 1.5356 and with a high of 1.5494. Today, no major economic data is expected.
GBP/USD – Last: 1.5676
| Resistance |
1.5478 |
1.5549 |
1.5642 |
| Support |
1.5351 |
|
|
Japanese Yen (JPY) –The Yen rose against the Dollar on a one week high after reports showed that U.S. economic growth and existing homes sales increased less than forecast, damping demand for U.S. denominated assets. The USD/JPY has been trading very stable over the last few days, and as long as the pair trades above 83.40 levels, the US Dollar continue to be more attractive. Overall, USD/JPY traded with a low of 83.41 and with a high of 83.85. No economic data expected today.
USD/JPY-Last: 83.16
| Resistance |
83.41 |
83.83 |
84.18 |
| Support |
83.05 |
|
|
Canadian dollar (CAD) –The Canadian Dollar rose against the U.S Dollar. Canada’s 10-year notes dropped for the first time in six days, ending the longest winning streak in three months, after a report yesterday showed that gains in inflation slowed. The momentum of the USD/CAD has been bullish over the last few days and the next resistance level is located at 1.0200. If the price breaks above this level, the momentum will continue to be positive for the US Dollar. Overall, USD/CAD traded with a low of 1.0111 and with a high of 1.0177. Today, the GDP (MoM) is expected at 0.30% vs. -0.10%.
USD/CAD – Last: 1.0122
| Resistance |
1.0140 |
1.0177 |
1.0210 |
| Support |
1.0100 |
1.0041 |
|
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
