Posted by admin on March 28, 2011 under forex market | 
USD Dollar (USD) – The Dollar gained versus most of the major currencies in Forex trading, but fell against currencies linked to commodities. The Final GDP came out at 3.1%, better than the expected 2.9%. The stock markets in U.S. closed positive as the Dow Jones climbed by 0.41% and the NASDAQ gained 0.24%. Crude Oil is fluctuating around the strong key level of $105.40 for the third day, unable to determine a further trend. Gold (XAU) declined below the $1430 an ounce and a further decline is possible if it manages to break the $1420 level. Today, the Personal Spending Report is expected at 0.6% vs. 0.2% previously, and Pending Home Sales are expected at 0% vs. -2.8% previously.
Euro (EUR) – The euro fell against the dollar after struggling with the 1.42 resistance level and moved back to trade near the 1.4 zones as European leaders failed to build a stable bailout plan during the summit. The German IFO Business Climate came out at 111.1, better than the expected 110.6, but this was not enough to fuel another positive wave in the pair. Breaking the 1.4 support zone will push the pair lower; otherwise, a rebound might be seen. Overall, EUR/USD traded with a low of 1.4019 and with a high of 1.4193. Today, the ECB President is expected to speak.
EUR/USD – Last: 1.4055
| Resistance |
1.4100 |
1.4150 |
1.4200 |
| Support |
1.4020 |
1.3970 |
1.3870 |
British Pound (GBP) – The Pound accomplished three consecutive days of poor performance against the dollar and fell back to test the psychological support level at the 1.6 zones. Breaking the 1.5980 critical support zones will push the pair lower; otherwise a rebound might be seen. Overall, GBP/USD traded with a low of 1.6000 and with a high of 1.6140. No economic data is expected today.
GBP/USD – Last: 1.6016
| Resistance |
1.6030 |
1.6080 |
1.6150 |
| Support |
1.5980 |
|
|
Japanese Yen (JPY) –The Yen weakened against the greenback and has seemingly positioned itself above the 81 support zones. The aftermath of the nuclear crisis in Japan is still forthcoming hence investors are edgy, expecting to react on further developments. Breaching the 81.70 resistance level might bring the pair once again above the 82 levels. Overall, USD/JPY traded with a low of 80.85 and with a high of 81.77. Today, Retails Sales are expected at -0.4% vs. 0.1% previously and the Unemployment Rate is expected unchanged at 4.9%.
USD/JPY-Last: 81.75
| Resistance |
81.70 |
82.30 |
|
| Support |
80.50 |
80.20 |
|
Canadian dollar (CAD) – The U.S. dollar strengthened against the Canadian Dollar and once again tested the strong resistance level of 0.9820. Breaching that key resistance area, might fuel the pair to run back to parity. Overall, USD/CAD traded with a low of 0.9740 and with a high of 0.9824. No major economic data is expected today.
USD/CAD – Last: 0.9808
| Resistance |
0.9820 |
0.9860 |
0.9940 |
| Support |
0.9740 |
0.9700 |
|
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Posted by admin on March 24, 2011 under forex market |
USD Dollar (USD) – The Dollar rose versus most of the other major currencies after Dallas Fed President, Fisher said today that there was “extraordinary speculative activity in the U.S.” after the central bank pumped record amounts of stimulus into the economy. In addition, the U.S. and its allies attack on Libyan leader Muammar Qaddafi caused investors to sell risky assets and drift towards the Dollar and commodity assets. The NASDAQ rose by 0.54% and the Dow Jones also rose by 0.56%. Crude oil surge to a new two year record of $105.75 a barrel, increasing on the day by 0.7%. Due to the attacks on Libyan leader Muammar Qaddafi’s troops, and protester clashes with government forces in Syria, oil inventories continue to build by 2.1M, but the fundamentals don’t matter right now. Gold (XAU) registered its highest level ever by rising 0.73%, and closing at $1438 an ounce. Today, new U.S. homes unexpectedly declined to 250K VS 301K previously, the lowest level since December 2003, adding to evidence that the industry is floundering. Core Durable Goods Orders are expected to show a growth of 2.1% vs -3.0% previously, and Unemployment Claims are expected to add 388k vs 385K that came from last week’s data.
Euro (EUR) – The Euro slumped in Forex trading against the Dollar after Portugal’s parliament rejected a deficit-cutting plan and European leaders considered pushing back a decision on funding a regional bailout mechanism. The EUR/USD momentum is bearish as long as the rate is under 1.4150. If the pair breaks below this level, the Euro will probably reach again to 1.4250. Overall, EUR/USD traded with a low of 1.4076 and with a high of 1.4247. Today the Flash Manufacturing PMI is expected to become negative from 59.0 to 58.3. The Flash Services PMI is expected to show 56.40, which is lower than the 56.8 seen previously.
EUR/USD – Last: 1.4077
| Resistance |
1.4120 |
1.4150 |
|
| Support |
1.4020 |
1.4000 |
1.3950 |
British Pound (GBP) – The Pound weakened against the Green back and other majors after the Bank of England minutes showed policy makers voted 6-3 to keep rates steady on March 10 and saw the “merit in waiting” to assess the effect of higher oil prices on the economy. The GBP/USD’s support on the one hour chart is located at 1.6220, and as long as the pair is trading below 1.6280, the Dollar is more attractive and will probably break the support level. Overall, GBP/USD traded with a low of 1.6218 and with a high of 1.6400. Today, Retail Sales are expected to shrink by -0.5% vs 1.9% previously.
GBP/USD – Last: 1.6240
| Resistance |
1.6250 |
1.6280 |
1.6300 |
| Support |
1.6215 |
1.6180 |
|
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. In addition, demand for Japanese debt rose as radiation levels at Japan’s Fukushima Dai-Ichi nuclear power plant hampered efforts to repair the reactors. If the pair will break its resistance at 81.10, the trend will be bullish. Overall, USD/JPY traded with a low of 80.69 and with a high of 81.27. No economic data is expected today.
USD/JPY-Last: 80.90
| Resistance |
81.10 |
81.20 |
|
| Support |
80.70 |
80.20 |
|
Canadian dollar (CAD) – The Canadian Dollar traded unchanged against the US Dollar as escalating violence in Libya reduced demand for assets related to global economic growth. At the same time, crude oil continued to rise. The USD/CAD’s support is located at 0.9800, and if the pair breaks below this level, the momentum becomes bearish. Overall, USD/CAD traded with a low of 0.9791 and with a high of 0.9842. No major economic data is expected today.
USD/CAD – Last: 0.9807
| Resistance |
0.9820 |
|
|
| Support |
0.9800 |
0.9770 |
0.9750 |
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 March 22, 2011 under forex market |
USD Dollar (USD) – The Dollar fell against the other major currencies of Forex trading after Existing Home Sales came out at 4.88 M, worse than the expected 5.05 M. The Stock Markets in the U.S. closed positive as the Dow Jones rose by 1.5% and the NASDAQ gained 1.83%. Crude Oil strengthened by 1.3% and closed at $102.33 a barrel. Gold (XAU) also jumped by 10.3 and closed at $1426.40 an ounce. Today, Treasury Secretary Timothy Geithner Speaks and FOMC Member Fisher will speak.
Euro (EUR) – The euro rose against the Dollar to 1.4240, the highest level since November. The ECB said that “strong vigilance” is necessary to keep a lid on inflation, a phrase the central bank uses to signal a rate increase is imminent. Holding above the support area of 1.4200 will keep the bullish momentum facing a strong resistance at 1.4240. Overall, EUR/USD traded with a low of 1.4138 and with a high of 1.4239. Today, no major economic data is expected.
EUR/USD – Last: 1.4214
| Resistance |
1.4240 |
|
|
| Support |
1.4200 |
1.4078 |
1.4000 |
British Pound (GBP) – Sterling gained versus the dollar. The pair is facing strong resistance at 1.6380, and breaking this level might keep the momentum bullish for the pair. Overall, GBP/USD traded with a low of 1.6207 and with a high of 1.6327. Today, the Core CPI is expected at 3.20% vs. 3.00% previously and CBI industrial trends orders are expected at -6.00 vs. -8.00 previously.
GBP/USD – Last: 1.6294
| Resistance |
1.6326 |
1.6380 |
|
| Support |
1.6250 |
1.6200 |
1.6137 |
Japanese Yen (JPY) – The yen weakened for a second day against all of the major currencies as Japan made progress in cooling the nuclear reactors at a crippled plant, which in turn increased appetite for higher-yielding assets. Holding above the support zone of 80.50 keeps the momentum positive for the pair. Overall, USD/JPY traded with a low of 80.71 and with a high of 81.30. No economic data is expected today.
USD/JPY-Last: 80.94
| Resistance |
81.85 |
82.000 |
82.30 |
| Support |
80.50 |
78.51 |
77.18 |
Canadian dollar (CAD) – Canada’s dollar gained the most in almost seven weeks versus the U.S Dollar as crude oil, the nation’s largest export, rose on renewed concern that turmoil in North Africa and the Middle East may disrupt supplies. Holding below the resistance level of 0.9850 will keep the momentum bearish. Overall, USD/CAD traded with a low of 0.9748 and with a high of 0.9853. Today, Core Retail Sales are expected at 0.70% vs. 0.60% previously, and the leading indicators are expected at 0.70% vs. 0.30% previously.
USD/CAD – Last: 0.9785
| Resistance |
0.9809 |
0.9886 |
0.9929 |
| Support |
0.9752 |
0.9710 |
|
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
