Posted by admin on March 31, 2011 under forex market | 
USD Dollar (USD) – The Dollar mostly weakened versus the major currencies despite ADP Employer Services today showing that companies hired 201,000 workers in March, marking the third time in four months that the nation added more than 200,000 jobs. But still, investors are waiting for the release of the U.S. non-farm payrolls on Friday. The Finance markets in the U.S. closed positive as the Dow Jones jumped by 0.58% and the NASDAQ gained 0.72% as a report showed that companies added more workers in March, which bolstered optimism about the economy. Crude Oil dropped by 0.01% and closed at $104.26 a barrel after a U.S. government report showed a larger-than-forecast gain in supplies, 2.60M vs 1.6M previously. This came as fuel demand declined to the lowest level in four months. Gold (XAU) declined by -0.08% and closed at $1423.70 an ounce. Today, Unemployment Claims are expected at 379k vs. 382k previously. Factory Orders data is expected to come out at 0.70% vs. 3.10% previously.
Euro (EUR) – The euro managed to close the day of Forex trading positive against the dollar and is hovering above the 1.41 area, due to expectation that the European Central Bank will raise interest rates by 0.25 percent when it meets on April 7. The pair failed to break its resistance level at 1.4150 but might try it again later on this week. If this strong resistance level will be break, it will bring the pair once again above the 1.42 zones. Overall, EUR/USD traded with a low of 1.4046 and with a high of 1.4148. Today, German Retail Sales are expected to come out at 0.40%, as it had previously. In addition, CPI Flash Estimate Sales are expected to come out at 2.40%, as it had previously.
EUR/USD – Last: 1.4138
| Resistance |
1.4150 |
1.4200 |
|
| Support |
1.4090 |
1.4050 |
1.4005 |
British Pound (GBP) – The Pound rose against the greenback at the end of the day due to US Dollar weakness. In addition, CBI Realized Sales rose to 15 vs 6 previously. Holding above the critical support zones of 1.6080 will push the pair higher once again. Overall, GBP/USD traded with a low of 1.5978 and with a high of 1.6080. Today, the Nationwide HPI is expected to decline by -0.1% vs. 0.3% previously.
GBP/USD – Last: 1.6081
| Resistance |
1.6150 |
1.6200 |
1.6300 |
| Support |
1.6080 |
1.6020 |
1.5980 |
Japanese Yen (JPY) - The yen fell to an almost a three-week low versus the dollar amid demand for higher-yielding assets. There is resilient risk appetite this week as equity markets are doing well globally. In addition, the deterioration in the nuclear reactor condition, are keeping investors away from the yen. The trend is bearish for the pair and it may reach to 82.20 after it didn’t reach the level necessary to break its resistance at 83.20. Overall, USD/JPY traded with a low of 82.41 and with a high of 83.20. Today, the Tankan Manufacturing Index is expected to rise by 6 vs 5 previously.
USD/JPY – Last: 82.70
| Resistance |
83.20 |
83.50 |
83.70 |
| Support |
82.50 |
82.20 |
|
Canadian dollar (CAD) – The Canadian Dollar strengthened against the U.S. dollar for a third day as Crude Oil prices climbed during the day to a level of $105 a barrel. But, the pair didn’t succeed in breaking the critical support level at 0.9700. It might test this support level again and may bring the pair to new record lows. Overall, USD/CAD traded with a low of 0.9685 and with a high of 0.9752. Today, the GDP is expected to rise by 0.50% as it had previously. If this economic data comes out better than expected, the pair should break its support level.
USD/CAD – Last: 0.9711
| Resistance |
0.9750 |
0.9800 |
0.9820 |
| Support |
0.9700 |
|
|
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Posted by admin on March 30, 2011 under forex market |
USD Dollar (USD) – The Dollar mostly weakened versus the major currencies in Forex trading after CB Consumer Confidence came out at 63.4, worse than the expected 65. The stock markets in the U.S. closed positive as the Dow Jones jumped by 0.67% and the NASDAQ gained 0.96%. Crude Oil also joined the positive trend, appreciating 0.8% and closed at $104.50 a barrel. Gold (XAU) continued to decline, losing -0.3% and closing at $1417 an ounce. Today, the ADP Non Farm Employment Change is expected at 205k vs. 217k previously. Crude Oil Inventories data is expected to come out at 1.6M vs. 2.1M previously.
Euro (EUR) – The euro managed to close the day positive against the dollar and hovers above the 1.41 area, despite the S&P rating agency lowering Portuguese and Greek credit ratings. The Gfk German Consumer Climate came out unchanged at 5.9 as expected. The German Prelim CPI came out at 0.5%, better than the expected 0.4%. Breaching the resistance level at 1.4150 might bring the pair once again above the 1.42 zones. Overall, EUR/USD traded with a low of 1.4046 and with a high of 1.4148. No economic data is expected today.
EUR/USD – Last: 1.4091
| Resistance |
1.4150 |
1.4200 |
|
| Support |
1.4020 |
1.3970 |
|
British Pound (GBP) – The Pound had minimal change from yesterday’s levels on a low volume trading session after the U.K data came out. The Current Account came out at -10.5B, worse than the expected -10.3B and the Final GDP, came out at -0.5%, better than the expected -0.6%. Holding above the critical support zones of 1.5980 will push the pair higher once again. Overall, GBP/USD traded with a low of 1.5941 and with a high of 1.6400. Today, the CBI Realized Sales are expected at -1 vs. 6 previously.
GBP/USD – Last: 1.6000
| Resistance |
1.6030 |
1.6080 |
1.6150 |
| Support |
1.5980 |
1.5940 |
|
Japanese Yen (JPY) – The Yen weakened against the dollar on speculations that the U.S. is considering removing stimulus in the close future as the global economy is recovering. Prelim Industrial Production came out at 0.4%, better than the expected -0.1%. Holding above the support level of 82.3 keeps the momentum positive for the pair. Overall, USD/JPY traded with a low of 81.53 and with a high of 82.52. No major economic data is expected today.
USD/JPY – Last: 82.96
| Resistance |
82.30 |
83.20 |
|
| Support |
81.80 |
80.50 |
|
Canadian dollar (CAD) – The Canadian Dollar strengthened against the U.S. dollar for a second day as Crude Oil prices climbed back. Breaking the critical support level at 0.9740 might bring the pair to new record lows; otherwise, a rebound to parity is possible. Overall, USD/CAD traded with a low of 0.9735 and with a high of 0.9784. No major economic data is expected today.
USD/CAD – Last: 0.9733
| Resistance |
0.9820 |
0.9860 |
0.9940 |
| Support |
0.9700 |
|
|
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Posted by admin on March 29, 2011 under forex market |
USD Dollar (USD) – The Dollar traded mixed versus most of the major currencies on a low volatility Forex trading session. Positive macro data came out in the U.S as the Personal Spending came out at 0.7%, better than the expected 0.5%, and the Pending Home Sales came out at 2.1%, better than the expected 0.3%. The stock markets in the U.S. closed negative as the Dow Jones declined by -0.19% and the NASDAQ lost -0.45%. Crude Oil finally broke down after long term fluctuation, losing -1.4% and closing at $103.80 a barrel. Gold (XAU) declined by -0.4%, closing at $1420 an ounce. Today, the CB Consumer Confidence is expected at 65 vs. 70.4 previously.
Euro (EUR) – The euro recovered from previous day losses against the dollar after the ECB President said that inflation rates that rise above 2% would be a concern, implying a possible increase in the Interest rate. Sustaining the 1.4 support zone keeps the momentum positive in the pair. Overall, EUR/USD traded with a low of 1.4019 and with a high of 1.4115. Today, the Gfk German Consumer Climate is expected at 5.9 vs. 6 previously. The German Prelim CPI is expected at 0.4% vs. 0.5% previously.
EUR/USD – Last: 1.4082
| Resistance |
1.4100 |
1.4150 |
1.4200 |
| Support |
1.4020 |
1.3970 |
1.3870 |
British Pound (GBP) – The Pound accomplished four consecutive days of weakness against the dollar, and moved back to test the critical support level at 1.5980 zones, on speculation that the interest rates will remain at a record low for a longer period. Breaking the critical support zones at 1.5980 will push the pair lower; otherwise, a rebound might be seen. Overall, GBP/USD traded with a low of 1.5935 and with a high of 1.6036. Today, the Current Account is expected at -10.4B vs. -9.6B previously. The Final GDP is expected unchanged at -0.6%.
GBP/USD – Last: 1.6003
| Resistance |
1.6030 |
1.6080 |
1.6150 |
| Support |
1.5980 |
1.5940 |
|
Japanese Yen (JPY) – The Yen weakened against the dollar on concerns that radiation levels detected at the demolished nuclear plant might be fatal. Retails Sales came out at 0.1%, better than the expected -0.4%. Breaching the 81.80 resistance level might bring the pair above the 82 levels once again. Overall, USD/JPY traded with a low of 81.29 and with a high of 81.83. Today, Prelim Industrial Production is expected at 0% vs. 1.3% previously.
USD/JPY – Last: 81.75
| Resistance |
81.70 |
82.30 |
|
| Support |
80.50 |
80.20 |
|
Canadian dollar (CAD) – The Canadian Dollar strengthened against the U.S. dollar after it tested the strong resistance level of 0.9820, and once again, failed to breach it. Holding below that resistance level turns the momentum to negative for the pair. Overall, USD/CAD traded with a low of 0.9740 and with a high of 0.9822. No major economic data is expected today.
USD/CAD – Last: 0.9767
| Resistance |
0.9820 |
0.9860 |
0.9940 |
| Support |
0.9740 |
0.9700 |
|
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
