Posted by admin on February 22, 2011 under forex market | 
USD Dollar (USD) – The Dollar was up against most of the other major currencies as escalating unrest in North Africa and the Middle East pushed investors towards safe investments like the Dollar and commodities. The earthquake in New Zealand also gave an additional boost to the dollar. Wall Street was closed yesterday due to the bank holiday in the US. Crude oil surged to a new two year high owing to the situation in Libya, and in the end strengthened by 6.3%, closing at $95.40 a barrel. Gold (XAU) rose by 1.7% and closed at $1406 an ounce. Today, CB consumer confidence is expected to rise from 60.60 to 63.00.
Euro (EUR) – The Euro declined a bit in Forex trading against the Dollar as escalations mounted in Libya and in Bahrain, which caused investors to buy the Dollar as a refuge. The EUR/USD is still facing the resistance level of 1.3750 on the daily chart. If the pair breaks this level, the Euro will continue with its bullish trend. If not, the Euro will probably start to decline towards 1.36 and even less. Overall, EUR/USD traded with a low of 1.3647 and with a high of 1.3712. Today, the GfK German Consumer Climate is expected at 5.80 vs. 5.70 prior.
EUR/USD – Last: 1.3587
| Resistance |
1.3630 |
1.3685 |
1.3720 |
| Support |
1.3545 |
1.3475 |
1.3430 |
British Pound (GBP) – The Pound weakened from a three week high against the Dollar as escalating political unrest in the Middle East supported safety assets. The GBP/USD’s resistance on the daily chart is 1.6300, and as long as the pair is trading above 1.6150 and above the 20 moving average on the daily chart, the Pound is very bullish. Overall, GBP/USD traded with a low of 1.6204 and with a high of 1.6252. Today, Public Sector Net Borrowing is expected to weak from 15.30B to 0.70B.
GBP/USD – Last: 1.6162
| Resistance |
1.6200 |
1.6270 |
|
| Support |
1.6150 |
1.6080 |
1.5985 |
Japanese Yen (JPY) –The Yen fluctuated against the Dollar during the European session in the end closed almost unchanged as concern that unrest in the Middle East will spread, boosted demand for safer assets like the Yen and the Dollar. The earthquake in New Zealand created an initial boost for the Yen, but Moody’s downgrading of Japan’s bond rate counteracted that surge. The USD/JPY main support is still at 83.00, and if the pair breaks below this level, the Dollar will probably continue to decline towards the 82.00 level. If the rate crosses the 83.55 level, it will probably rise to 84.00 and more. Overall, USD/JPY traded with a low of 83.05 and with a high of 83.54. No economic data is expected today.
USD/JPY-Last: 83.27
| Resistance |
83.55 |
83.75 |
84.00 |
| Support |
83.00 |
82.80 |
|
Canadian dollar (CAD) – The Canadian Dollar rose versus the US Dollar as crude oil jumped sharply to a new record since 2008, drifting the Canadian Dollar as well. The USD/CAD’s support is still located at the 0.9800 level, and as long as the pair is trading below the 20 moving average on the daily chart and below 0.9900, the momentum of the Canadian Dollar is positive. Overall, USD/CAD traded with a low of 0.9821 and with a high of 0.9872. Today, Core Retail Sales are expected at 0.70% vs. 1.00% prior and Retail Sales at -0.10% vs. 1.30% prior.
USD/CAD – Last: 0.9860
| Resistance |
1.0030 |
1.0205 |
1.0380 |
| Support |
0.9815 |
0.9800 |
|
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Posted by admin on February 21, 2011 under forex market |
USD Dollar (USD) – The Dollar fell against most currencies in Friday’s Forex trading after Bernanke said that unbalanced flows of money between nations is again posing a risk to the global economy and financial stability, which then caused investors to be pessimistic about the US Dollar. The NASDAQ and Dow Jones strengthened by 0.08% and 0.59% respectively. Crude oil weakened by 0.2% and closed at $86.20 a barrel. Gold (XAU) rose by $3.50, closing at $1388.60 an ounce. No economic data is expected today owing to a bank holiday in the US.
Euro (EUR) – The Euro rose to a one week high against the Dollar after the European Central Bank said on Friday that the bank may need to raise interest rates as global inflation pressures mounts. The EUR/USD is facing a serious resistance level (1.3750) on the daily chart, but if the pair breaks this level, the Euro will continue with its bullish trend. Overall, EUR/USD traded with a low of 1.3545 and with a high of 1.3715. Today, the German IFO Business Climate is expected at 110.40 vs. 110.30 previously.
EUR/USD – Last: 1.3673
| Resistance |
1.3715 |
|
|
| Support |
1.3650 |
1.3570 |
1.3545 |
British Pound (GBP) – The Pound reached a two week high against the Dollar after data showed that U.K. retail sales surged 1.9 percent last month, almost four times what was forecast (1.9% vs. 0.6% forecast). This boosted speculation that the Bank of England will increase interest rates at some point this year. The GBP/USD’s momentum this past week was bullish, and as long as the pair is trading above 1.6150 and above the 20 moving average on the daily chart, the pound remains very positive. Overall, GBP/USD traded with a low of 1.6148 and with a high of 1.6263. No economic data is expected today.
GBP/USD – Last: 1.6230
| Resistance |
1.6265 |
|
|
| Support |
1.6185 |
1.6120 |
1.6040 |
Japanese Yen (JPY) –The Yen strengthened versus the Dollar after the Dollar weakened on Friday due to Bernanke’s declaration, which then led investors to prefer the Japanese currency. The USD/JPY main support is at 83.00 and if the pair breaks below this level, the Dollar will probably continue to decline towards the 82.00 level. Overall, USD/JPY traded with a low of 83.03 and with a high of 83.53. No economic data is expected today.
USD/JPY-Last: 83.12
| Resistance |
83.40 |
83.70 |
84.00 |
| Support |
83.00 |
|
|
Canadian dollar (CAD) – The Canadian Dollar weakened versus the US Dollar after a government report showed annual inflation slowed in January (0.0% vs. 0.2% forecast), which led investors to sell the Canadian Dollar on Friday. The USD/CAD’s support is located at the 0.9800 level, and as long as the pair is trading below the 20 moving average on the daily chart and below 0.9950, the Canadian Dollar is still more attractive. Overall, USD/CAD traded with a low of 0.9819 and with a high of 0.9874. No economic data is expected today.
USD/CAD – Last: 0.9865
| Resistance |
0.9870 |
0.9890 |
0.9900 |
| Support |
0.9835 |
0.9825 |
|
Posted by admin on February 18, 2011 under forex market |
USD Dollar (USD) – The Dollar weakened against most of the major currencies in Forex trading after macro economic data in U.S showed that the Initial Jobless Claims came out 410k worse than expected 403k and yields on U.S. Treasuries fell. The CPI came out 0.4% better than expected 0.3%. The Philadelphia Fed Manufacturing Index came out 35.9 better than expected 21. The Stock Markets in U.S. closed positive as the Dow Jones rose by 0.24% and the NASDAQ gained 0.21%. The Crude Oil jumped by 1.6% ending the day at 86.4$ a barrel. Gold (XAU) also kept the positive momentum appreciating by 0.7% and closed at 1384$ an ounce. Today, Fed Chairman Ben Bernanke expected to testify.
Euro (EUR) – The euro gained versus the dollar attempting to sustain the 1.36 zone. The Current Account, came out -13.3B worse than expected -6.1B. Holding above the support area of 1.36 might push the pair to the 1.37 zones. Overall, EUR/USD traded with a low of 1.3535 and with a high of 1.3626. Today, the German PPI is expected at 0.6% vs. 0.7% previously.
EUR/USD – Last: 1.3613
| Resistance |
1.3620 |
1.3740 |
|
| Support |
1.3550 |
1.3430 |
|
British Pound (GBP) – The pound regained previous loses against the dollar and adhered the gap from yesterday after BOE MPC Member Andrew Sentence said that interest rates should rise in order to restrain the inflation. The CBI Industrial Trends Orders came out -8 better than expected -9 thus supporting the Sterling to advance. Holding above the support area of 1.6170 might push the pair to the 1.63 zones. Overall, GBP/USD traded with a low of 1.6074 and with a high of 1.6184. Today, the Retails Sales are expected at 0.5% vs. -0.8% previously. BOE Gov, Mervyn King expected to testify as well.
GBP/USD – Last: 1.6174
| Resistance |
1.6185 |
1.6220 |
|
| Support |
1.6120 |
1.6070 |
1.5980 |
Japanese Yen (JPY) – The Yen gained against the dollar on global greenback’s weakness. Breaking the support zone of 83.10 might extend the decline in the pair; otherwise a rebound back 84 zones might be seen. Overall, USD/JPY traded with a low of 83.14 and with a high of 83.74. No economic data is expected today.
USD/JPY-Last: 83.29
| Resistance |
83.50 |
83.95 |
|
| Support |
83.10 |
82.60 |
|
Canadian dollar (CAD) – The Canadian dollar touched highest level against the U.S. Dollar since March 2008 but still no strong move has seen in the USD/CAD pair as it bounced back to the critical support level of 0.9840. Only breaking that support might extend the decline in the pair, otherwise a rebound back to parity might be seen. Overall, USD/CAD traded with a low of 0.9814 and with a high of 0.9857. Today, the Core CPI is expected at 0.2% vs. -0.3% previously.
USD/CAD – Last: 0.9841
| Resistance |
0.9850 |
0.9900 |
0.9930 |
| Support |
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
