Posted by admin on February 28, 2011 under forex market | 
USD Dollar (USD) – The Dollar traded mixed against most of the other major currencies as the Prelim GDP came out at 2.8%, worse than the expected 3.3% and The Michigan Consumer Sentiment Index came out at 77.5, better than the expected 75.1. The Stock Markets in the U.S closed positive as the Dow Jones jumped by 0.51% and the NASDAQ gained 1.58%. Crude Oil appreciated by 0.7% and closed at $98.20 a barrel. Gold (XAU) rose as well, and closed at $1410 an ounce. Today, the Chicago PMI is expected at 67.9 vs. 68.8 previously and Pending Home Sales are expected at -2.2% vs. 2% previously.
Euro (EUR) – The Euro fell in Forex trading against the Greenback after it touched highest level since the beginning of the month. The German Prelim CPI came out as expected, unchanged at 0.5%. Holding below the key resistance level of 1.3840, turns the momentum of the pair to negative once again. Overall, EUR/USD traded with a low of 1.3714 and with a high of 1.3837. Today, the CPI is expected unchanged at 2.4%.
EUR/USD – Last: 1.3746
| Resistance |
1.3765 |
1.3835 |
|
| Support |
1.3710 |
1.3650 |
1.3710 |
British Pound (GBP) – The Pound fell against the Dollar after the GDP came out at -0.6%, worse than the expected 0.5%. Holding below the resistance level of 1.6180 keeps the momentum negative for the pair. Overall, GBP/USD traded with a low of 1.6030 and with a high of 1.6160. No economic data is expected today.
GBP/USD – Last: 1.6090
| Resistance |
1.6100 |
1.6180 |
1.6260 |
| Support |
1.6040 |
1.5980 |
|
Japanese Yen (JPY) – The Yen rose against the dollar as conflicts in Libya surged oil prices to a record high, boosting demand for the yen as a refuge. Breaking the support level of 81.60 might extend a decline in the pair. Overall, USD/JPY traded with a low of 81.61 and with a high of 82.05. Today, Household Spending is expected at -1.3% vs. -3.3% previously.
USD/JPY-Last: 81.67
| Resistance |
82.10 |
82.55 |
82.85 |
| Support |
81.60 |
|
|
Canadian dollar (CAD) – The Canadian Dollar rose against the US Dollar posting a record high since 2008 as Crude Oil surged on Libya’s effect. Breaking the support level of 0.9770 might extend the decline in the pair. Overall, USD/CAD traded with a low of 0.9770 and with a high of 0.9830. Today, the GDP is expected at 0.3% vs. 0.4% previously. The Current Account is expected at -9.4B vs. -17.5B previously.
USD/CAD – Last: 0.9781
| Resistance |
0.9820 |
0.9860 |
|
| Support |
0.9770 |
|
|
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 February 24, 2011 under forex market |
USD Dollar (USD) – The Dollar fell against most of the other major currencies in Forex trading, despite the social unrest in the Middle-East. This was due to strengthening of the Pound and Euro on speculation that the European Central Bank and the Bank of England will seek to cap inflation by raising interest rates before the Federal Reserve. The Fed has kept its key rate at zero to 0.25 percent since December 2008 to support the economic recovery and it seems that this policy will be continued for now. The NASDAQ and Dow Jones fell for the second day, weakening by 1.21% and 0.88% respectively as a result of a large concern that higher energy prices will slow economic growth. Crude oil continued to surge by reaching $100 a barrel, owing to the situation in Libya. Crude orders strengthened by 6% and closed at $99.10 a barrel. Gold (XAU) strengthened by 0.7%, closing at $1411.75 an ounce as escalating political instability in the Middle East and North Africa boosted investor demand for safety assets. Today, Core Durable Goods Orders are expected to weaken from 0.8% to 0.4% and Unemployment Claims are expected to improve from 410K to 403K.
Euro (EUR) – The Euro rose against the Green back on speculation that the ECB will be hiking rates sooner-than-expected. This comes as Bank President Trichet said today, that the ECB policymakers will take the necessary actions to maintain price stability. If the pair will break its resistance at 1.3775, we will be witness to the levels we had seen in November 2010. The EUR/USD momentum is bullish as long as the rate is above 1.3750. If the pair breaks below this level, the Euro will probably decline to 1.3680. Overall, EUR/USD traded with a low of 1.3526 and with a high of 1.3775. No major economic data is expected today.
EUR/USD – Last: 1.3750
| Resistance |
1.3775 |
1.3810 |
1.3840 |
| Support |
1.3720 |
1.3680 |
1.3640 |
British Pound (GBP) – The Pound rose against the Dollar due to speculation that the BOE will be hiking rates sooner-than-expected and before the Federal Reserve. The GBP/USD’s main resistance at 1.6250 didn’t break. As long as the pair is trading below 1.6250, it may once again test its support at 1.6180. Overall, GBP/USD traded with a low of 1.6101 and with a high of 1.6273. Today, CBI Realized Sales are expected to weaken from 37 to 30 .
GBP/USD – Last: 1.6219
| Resistance |
1.6250 |
1.6270 |
|
| Support |
1.6180 |
1.6150 |
|
Japanese Yen (JPY) –The Yen rose against other major currencies on speculation that tensions in the Middle East and North Africa will worsen, boosting demand for the Yen as a refuge. The USD/JPY has broken the support level at 82.50, and therefore the momentum is still bearish for the US Dollar. As long as the rate is below 82.50, a short position is preferred. Overall, USD/JPY traded with a low of 82.30 and with a high of 83.42. Japan’s Trade Balance showed its first deficit since April 2009. BOJ Yamaguchi told reporters that deflation seems to be easing. No economic data is expected today.
USD/JPY-Last: 82.59
| Resistance |
82.50 |
82.80 |
83.10 |
| Support |
82.30 |
|
|
Canadian dollar (CAD) – The Canadian Dollar rose against the US Dollar as escalating violence in Libya increased oil prices. In addition, the weakness of the US Dollar against most currencies gave a signal to advance for the Canadian Dollar. The USD/CAD’s resistance is located at 0.9925, and if the pair breaks above this level, the momentum becomes bullish. Overall, USD/CAD traded with a low of 0.9857 and with a high of 0.9958. No major economic data is expected today.
USD/CAD – Last: 0.9884
| Resistance |
0.9920 |
|
|
| Support |
0.9880 |
0.9840 |
0.9820 |
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 February 23, 2011 under forex market |
USD Dollar (USD) – The Dollar rose versus most of the other major currencies after better than expected data regarding consumer confidence came out at 70.4 vs. 65.1 forecast. In addition, escalating violence in Libya and in the Middle East caused investors to sell risky assets and drift towards the Dollar and commodity assets. The NASDAQ and Dow Jones fell sharply, weakening by 2.74% and 1.44% respectively. Crude oil continued to surge to a new two year record, owing to the situation in Libya and the New Zealand earthquake, crude orders strengthened by 8.3% and closed at $93.57 a barrel. Gold (XAU) strengthened by 0.9%, closing at $1401.10 an ounce. Today, Existing Home Sales are expected to weaken from 5.28M to 5.23M.
Euro (EUR) – The Euro declined a bit in forex trading against the Dollar after good data was released in the US and the situation in North Africa succeeded to support a stronger Dollar. The EUR/USD momentum is bullish as long as the rate is above 1.3600. If the pair breaks below this level, the Euro will probably decline to 1.3400. Overall, EUR/USD traded with a low of 1.3526 and with a high of 1.3704. Today, Industrial New Orders are expected to become negative from 2.10% to -0.80%, and ECB President Trichet Speaks.
EUR/USD – Last: 1.3691
| Resistance |
1.3716 |
|
|
| Support |
1.3645 |
1.3536 |
1.3462 |
British Pound (GBP) – The Pound weakened against the Dollar the most it has in almost a week as escalating political instability in the Middle East and North Africa boosted investor demand for safety assets. The GBP/USD’s support on the daily chart is located at 1.6100, and as long as the pair is trading below 1.6180, the Dollar is more attractive and probably will break the support level. Overall, GBP/USD traded with a low of 1.6101 and with a high of 1.6228. Today, the MPC Meeting Minutes will be released.
GBP/USD – Last: 1.6173
| Resistance |
1.6204 |
1.6265 |
|
| Support |
1.6132 |
1.6075 |
|
Japanese Yen (JPY) –The Yen rose against other major currencies on speculation that tensions in the Middle East and North Africa will worsen, boosting demand for the yen as a refuge. The USD/JPY has broken the support level at 83.00, and therefore the momentum becomes bearish for the US Dollar. As long as the rate is below 83.20, a short position is preferred. Overall, USD/JPY traded with a low of 82.57 and with a high of 83.42. No economic data is expected today.
USD/JPY-Last: 82.59
| Resistance |
82.87 |
83.26 |
83.53 |
| Support |
82.50 |
|
|
Canadian dollar (CAD) – The Canadian Dollar dropped the most in seven weeks against the Dollar as escalating violence in Libya reduced demand for assets related to global economic growth. In addition, retail sales came out worse than expected at -0.2% vs. 0.0% forecast. The USD/CAD’s resistance is located at 0.9925, and if the pair breaks above this level, the momentum becomes bullish. Overall, USD/CAD traded with a low of 0.9823 and with a high of 0.9918. No major economic data is expected today.
USD/CAD – Last: 0.9884
| Resistance |
0.9920 |
|
|
| Support |
0.9880 |
0.9840 |
0.9820 |
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
