Posted by admin on January 26, 2011 under forex market | 
USD Dollar (USD) – The Dollar traded mix against the major currencies of Forex trading on expectations that President Barack Obama will propose a five-year freeze on non-security discretionary spending. CB Consumer Confidence came out at 60.60 better than the expected 53.50. The Stock Markets in the U.S closed mix as the Dow Jones fell by 0.03% and the NASDAQ rose by 0.06%. Crude Oil slumped by 1.9% closing at $86.18 a barrel. Gold (XAU) fell by 0.8%, closing at $1333.50 an ounce. Today, New Home Sales are expected at 300K vs. 290K previously, the interest rate is expected unchanged at 0.25%, and the FOMC is expected.
Euro (EUR) – The Euro rose against the Dollar for the sixth day and remained trading above 1.3600, reaching 1.3704 and rebounded to the 1.3660 area after words from President Obama. According to the daily chart, trading above 1.6000 will keep the momentum bullish for the pair facing resistance at 1.3780 and finding support at 1.3500, in the case that it rebounds. Overall, EUR/USD traded with a low of 1.3572 and with a high of 1.3704. Today, no major economic data is expected.
EUR/USD – Last: 1.3694
| Resistance |
1.3690 |
1.3780 |
|
| Support |
1.3632 |
1.3600 |
1.3500 |
British Pound (GBP) – The Pound slid the most in a month versus the greenback after a report showed that the U.K.’s gross domestic product unexpectedly shrank in the fourth quarter. The UK’s GDP came out at -0.50%, worse than the expected 0.50%. The Sterling dropped yesterday by 250 pips to 1.5750 breaking the support of 1.6000 as expected. The main support is at 1.5785 and 1.5700. If the pair breaks below the support level of 1.5700, it would likely continue on to 1.5600 and 1.5500. Overall, GBP/USD traded with a low of 1.5750 and with a high of 1.6017. Today, the MPC Meeting Minutes are expected.
GBP/USD – Last: 1.5809
| Resistance |
1.5886 |
1.5950 |
1.6000 |
| Support |
1.5750 |
|
|
Japanese Yen (JPY) – The Yen rose against the Dollar and closed around the 82.30 area. According to the daily chart, the main support is still at 82.00 and it tried to break below this, as expected. In the case that the pair breaks this support level, the rate will 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 BoJ Monthly 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 for a second day, touching just below parity, as commodities fell and the country’s inflation rate accelerated less than forecast in December. The Core CPI (MoM) came out at -0.30%, worse than the expected -0.10%. Breaching the resistance level of 1.0020 might further extend a decline in the pair. Overall, USD/CAD traded with a low of 0.9911 and with a high of 1.0004. Today, no major economic data is expected.
USD/CAD – Last: 0.9971
| Resistance |
1.000 |
1.0020 |
|
| Support |
0.9910 |
0.9891 |
0.9840 |
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 25, 2011 under forex market |
USD Dollar (USD) – The Dollar fluctuated against the major currencies and has been trading near a two-month low versus the euro before the Fed’s policy meeting, where the Fed has expressed that it still has concerns about high unemployment. The Stock Markets in the U.S closed positive as the Dow Jones rose by 0.92% and the NASDAQ rose by 1.04%. Crude Oil slumped by 1.4%, closing at $87.87 a barrel. Gold (XAU) strengthened by 0.3% closing at $1344 an ounce. Today, CB Consumer Confidence is expected at 53.50 vs. 52.50 previously.
Euro (EUR) – The Euro rose against the Dollar in Forex trading and closed above the resistance level of 1.3600, a high of two months. According to the daily chart, trading above 1.6000 will keep the momentum bullish for the pair, facing resistance at 1.3780 and support at 1.3500 in case it rebounds. Overall, EUR/USD traded with a low of 1.3540 and with a high of 1.3686. Today, no major economic data is expected.
EUR/USD – Last: 1.3670
| Resistance |
1.3690 |
1.3780 |
|
| Support |
1.3632 |
1.3600 |
1.3500 |
British Pound (GBP) – The Pound closed almost unchanged versus the Dollar and was captured again around the 1.6000 area, which is the major resistance level for the pair according to the daily chart. Holding below the resistance level of 1.6040 turns the momentum to negative for the GBP/USD pair. Overall, GBP/USD traded with a low of 1.5921 and with a high of 1.6013. Today, the GDP (QoQ) is expected at 0.50% vs. 0.70% prior, and BoE Gov King Speaks.
GBP/USD – Last: 1.6010
| Resistance |
1.6054 |
|
|
| Support |
1.6000 |
1.5947 |
1.5886 |
Japanese Yen (JPY) – The Yen rose against the Dollar and closed around the 82.30 area. Trading above 82.30 will make the momentum positive for the pair, but in case the pair breaks below this support level, it will continue to 82.00 and then to 81.25. Overall, USD/JPY traded with a low of 82.30 and with a high of 82.92. No economic data is expected today.
USD/JPY-Last: 82.38
| Resistance |
82.57 |
82.91 |
83.10 |
| Support |
82.30 |
82.10 |
81.88 |
Canadian dollar (CAD) – Canada’s Dollar weakened against all of its major counterparts as commodities fell and as crude oil prices dropped after Saudi Arabian Oil Minister Ali al-Naimi signaled OPEC may bolster production. Breaching the resistance level of 1.0020 might extend the pair further. Overall, USD/CAD traded with a low of 0.9918 and with a high of 0.9982. Today, the Core CPI (MoM) is expected at -0.10% vs. 0.00% previously.
USD/CAD – Last: 0.9928
| Resistance |
0.9973 |
1.0020 |
|
| Support |
0.9910 |
0.9891 |
0.9840 |
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 24, 2011 under forex market |
USD Dollar (USD) – The Dollar fell versus most of the major currencies after good macro economic data was released for the other majors. The Stock Markets in the U.S fluctuated as the Dow Jones rose by 0.41% and the NASDAQ declined by 0.55%. Crude Oil slumped by 0.5% closing at $89.11 a barrel. Gold (XAU) crashed as well, losing 0.4% and closing at $1341 an ounce. No economic data is expected today.
Euro (EUR) – The Euro rose by almost 200 pips against the Dollar in Forex trading last Friday, after the German Ifo Business Climate Index came out at 110.30, better than the expected 110.10. The Coalition government in Ireland collapsed, which will likely have an effect on the rate of the euro today, and we will probably see bearish momentum for the pair. Trading above 1.6000 will keep the momentum bullish, but trading below can take the pair back to 1.3400 areas. Overall, EUR/USD traded with a low of 1.3449 and with a high of 1.3625. Today, no major economic data is expected.
EUR/USD – Last: 1.3590
| Resistance |
1.3650 |
1.3780 |
|
| Support |
1.3520 |
1.3453 |
1.3387 |
British Pound (GBP) – The Pound strengthened against the greenback as Retail Sales came out at -0.80%, worse than expected. Holding below the resistance level of 1.6040 turns the momentum to negative for the GBP/USD pair. Overall, GBP/USD traded with a low of 1.5866 and with a high of 1.6018. Today, no major economic data is expected.
GBP/USD – Last: 1.5966
| Resistance |
1.6000 |
1.6048 |
|
| Support |
1.5932 |
1.5846 |
|
Japanese Yen (JPY) – The Yen rose against the Dollar and fell back to trade near 82.50 levels after a big jump from the dollar last Thursday. Holding above the 82 zone will keep the momentum positive for the USD/JPY pair. Overall, USD/JPY traded with a low of 82.53 and with a high of 83.09. No economic data is expected today.
USD/JPY-Last: 82.72
| Resistance |
82.91 |
83.06 |
|
| Support |
82.53 |
82.15 |
|
Canadian dollar (CAD) – The Canadian Dollar gained against the U.S dollar after Canadian Finance Minister Jim Flaherty said that he doesn’t expect a major weakening of the country’s currency, whose gains reflect the strength of fiscal policy and commodity prices. The Core Retail Sales came out at 1.0%, better than the expected 0.6%. Breaching the resistance level of 1.0020 might fuel further increases in the pair. Overall, USD/CAD traded with a low of 0.9908 and with a high of 0.9988. Today, no major economic data is expected.
USD/CAD – Last: 0.9940
| Resistance |
0.9960 |
1.0020 |
|
| Support |
0.9890 |
0.9841 |
|
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
