Posted by admin on January 31, 2011 under forex market | 
USD Dollar (USD) – The U.S Dollar rose against most major currencies in Forex trading after growing concern for Egypt’s political turmoil. This situation has triggered investor risk aversion with traders buying into the “safe haven” of the U.S Dollar. The main concern is that we are going to see an expansion of this turmoil out of Egypt to other parts of the Middle East, and as a result, the rate of oil will continue to rise. The Stock Markets in the U.S declined as the Dow Jones fell by -1.39% and the NASDAQ fell by 2.48%. Crude Oil increased by 4.3% to $90.25 per barrel, the most since September 2009. Gold (XAU) rose to a rate of at $1343.50 an ounce and could reach the level of $1355 in the near future. Today, personal spending is expected at 0.6% vs. 0.4% previously, and the Chicago PMI is expected at 0.5% vs. 0.3% previously.
Euro (EUR) – The Euro slid against the U.S Dollar for the first time after three weeks of getting stronger. The political concern in the Middle East has provided its influence on the currency. According to the daily chart and with consideration of the political turmoil, the momentum is strongly bearish for the pair, which is facing support at 1.3500 and resistance at 1.3600. Overall, EUR/USD traded with a low of 1.3572 and with a high of 1.3700. Today, no major economic data is expected.
EUR/USD – Last: 1.3597
| Resistance |
1.3640 |
1.3750 |
|
| Support |
1.3570 |
1.3520 |
1.3400 |
British Pound (GBP) – The Pound slid for the first time in three weeks versus the greenback after growing speculation arose that the Bank of England may not raise interest rates in the close period, as growth slows. The Consumer Confidence report came out at -29, worse than the expected -20. The sterling dropped on Friday by 100 pips to 1.5840, breaking its support level at 1.5900 as was expected. The main support at 1.5820 hasn’t been broken down yet. The pair will likely continue to be bearish and rates of 1.5600 and 1.5500 don’t seem far away. Overall, GBP/USD traded with a low of 1.5820 and with a high of 1.5880. Today, no major economic data is expected.
GBP/USD – Last: 1.5860
| Resistance |
1.5890 |
1.5950 |
1.6000 |
| Support |
1.5820 |
1.5790 |
1.5760 |
Japanese Yen (JPY) – The Yen rose against the Dollar and closed around the 82.10 area. According to the daily chart, the main support level is still at 82.00. In the case that the pair does break this support level, the rate is expected to continue to fall to 81.50 and then to 81.00. Overall, USD/JPY traded with a low of 81.98 and with a high of 82.66. Today, the Prelim Industrial Production report is expected.
USD/JPY-Last: 82.08
| Resistance |
82.30 |
82.57 |
82.91 |
| Support |
82.00 |
81.50 |
81.00 |
Canadian dollar (CAD) – Canada’s dollar declined against its U.S counterpart the most in almost three month. This is likely due to the Bank of Canada’s governor, Mark Carney, saying that the strength of the currency is a problem for economic expansion. The pair could remain bearish because the U.S Dollar is considered as a safety island in times of crises. Today the GDP is expected to be release and the forecast is expected to be unchanged from its previous outcome of 0.2%. Overall, USD/CAD traded with a low of 0.9860 and with a high of 1.0035.
USD/CAD – Last: 1.0006
| Resistance |
1.0010 |
1.0025 |
|
| Support |
1.0000 |
0.9960 |
|
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Posted by admin on January 28, 2011 under forex market |
USD Dollar (USD) – The Dollar was mixed against the other major currencies of Forex trading as the released of Initial Jobless Claims in U.S. which Rose by 51k Last Week to 454k and Core Durable Goods Orders that came worse than expected (0.5% vs. 0.9% forecast) but pending home sales came better in December (2.0% vs. 0.9% forecast) caused the Dollar to be Volatile. NASDAQ and Dow Jones strengthened by 0.58% and 0.04% respectively, Crude oil fell by 1.9% ,the lowest price in the last 8 weeks, in the end closed at 85.64$ a barrel ,Gold (XAU) weakened by 2.1% closed at 1314.40$ an ounce. Today, Advance GDP is expected to rise from 2.60% to 3.80%, Employment Cost Index is expected to remain at 0.4%, Michigan Consumer Sentiment Index is expected at 73.20 vs. 72.70 prior.
Euro (EUR) – The Euro continued to rise versus the Dollar after erasing earlier declines as French President Nicolas Sarkozy said European leaders would continue defending the currency union. The resistance of the EUR/USD on the daily chart is still 1.3780, as long as the rate is above the 10 moving average on the daily chart the euro is stronger and the momentum is bullish. Overall, EUR/USD traded with a low of 1.3636 and with a high of 1.3758. No major data expected today.
EUR/USD – Last: 1.3705
| Resistance |
1.3755 |
|
|
| Support |
1.3680 |
1.3630 |
1.3540 |
British Pound (GBP) – The Pound was very volatile against the Dollar, trading close to a two day high, following the release of a flurry of mixed U.S. economic data. The GBP/USD is still trading on the 10 moving average line on the daily chart therefore the momentum is still not clear, as long as the rate is above 1.5800 the pound is more attractive and a long position is preferred. Overall, GBP/USD traded with a low of 1.5879 and with a high of 1.5991. No economic data expected today.
GBP/USD – Last: 1.5889
| Resistance |
1.5940 |
1.6017 |
|
| Support |
1.5880 |
1.5850 |
1.5775 |
Japanese Yen (JPY) –The Yen slid against all other major after Japan’s credit rating was lowered for the first time in nine years by Standard & Poor’s. The momentum of the USD/JPY has been stable in the last 6 days, if the pair breakup 83.20 level the momentum will be bullish. Overall, USD/JPY traded with a low of 82.02 and with a high of 83.20. No economic data expected today.
USD/JPY-Last: 82.70
| Resistance |
82.90 |
83.10 |
|
| Support |
82.50 |
82.30 |
82.00 |
Canadian dollar (CAD) – The Canadian Dollar weakened against the Dollar as oil fell sharply to an eight week low in New York, drifting the Canadian as well. As long as USD/CAD is trading below 1.0000 the Canadian Dollar is more attractive, the next support level on the one hour chart is located at 0.9930 .Overall, USD/CAD traded with a low of 0.9926 and with a high of 0.9986. No economic data expected today.
USD/CAD – Last: 0.9963
| Resistance |
0.9975 |
1.0000 |
|
| Support |
0.9940 |
0.9915 |
|
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 January 27, 2011 under forex market |
USD Dollar (USD) – The Dollar dropped versus the other major currencies after the Federal Reserve maintained its plan to purchase $600 billion in addition to keeping the interest rate unchanged at 0.25%, both of which, caused investors to prefer risky assets during the session. The NASDAQ and Dow Jones strengthened by 0.74% and 0.07% respectively. Crude oil rose by 1.3% and closed at $87.33 a barrel. Gold (XAU) strengthened by 0.1% and closed at $1333 an ounce. Today, Unemployment Claims are expected to rise from 404K to 408k, Core Durable Goods Orders are expected at 0.60% vs. 3.60%, and Pending Home Sales are expected to decrease from the previous month (0.8% vs. 3.5% prior).
Euro (EUR) – The Euro rose to a two month high against the Dollar on a positive showing from stock markets and commodities being more attractive due to the interest rate in US. In addition, the European relief fund’s bond rose in its first day of trading. The resistance of the EUR/USD on the daily chart is 1.3780, and as long as the rate is above the 10 moving average on the daily chart and the RSI is positive, the euro is still strong and the momentum is bullish. Overall, EUR/USD traded with a low of 1.3640 and with a high of 1.3722. Today, German Prelim CPI is expected to weaken from 1.00% to -0.3%.
EUR/USD – Last: 1.3702
| Resistance |
1.3725 |
|
|
| Support |
1.3655 |
1.3540 |
1.3418 |
British Pound (GBP) – The Pound strengthened in Forex trading against the Dollar after minutes from the Bank of England’s last meeting showed that a second policy maker favored higher interest rates as inflation remains above target. The GBP/USD has been trading on the 10 moving average line on the daily chart and therefore the momentum is not clear. As long as the rate is above 1.5800, the pound is more attractive. Overall, GBP/USD traded with a low of 1.5769 and with a high of 1.5937. Today, CBI Realized Sales are expected at 39.00 vs. 56.00 prior.
GBP/USD – Last: 1.5915
| Resistance |
1.5937 |
1.6017 |
|
| Support |
1.5846 |
1.5775 |
|
Japanese Yen (JPY) –The Yen fluctuated versus the Dollar during the European session, and in the end, succeeded to increase after the announcement from the fed. The momentum of the USD/JPY has been bearish over the last few days. If the pair breaks below the 81.80 level, the pair could decline to 81.00 or even less. Overall, USD/JPY traded with a low of 81.98 and with a high of 82.60. No economic data is expected today.
USD/JPY-Last: 82.13
| Resistance |
82.65 |
82.90 |
83.51 |
| Support |
82.00 |
81.80 |
|
Canadian dollar (CAD) – The Canadian Dollar strengthened against the US Dollar for the first time in three days as the Federal Reserve keeps stimulus measures in place, bolstering demand for higher yielding assets. As long as USD/CAD is trading below 1.0000 the Canadian Dollar is more attractive and the next support level on the daily chart is located at 0.9900. Overall, USD/CAD traded with a low of 0.9937 and with a high of 0.9981. No economic data is expected today.
USD/CAD – Last: 0.9945
| Resistance |
0.9980 |
1.0000 |
|
| Support |
0.9925 |
0.9900 |
|
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
