Posted by admin on April 13, 2011 under forex market | 
USD Dollar (USD) – The Dollar declined against most major currencies due to the U.S. trade deficit narrowing less than forecast in February, which indicates that soaring commodity prices hurt the world’s largest economy at the start of the year. Equities over New York dropped hard following the disappointing IBD/TIPP economic optimism index, which helps to further exaggerate an already risk-averse environment due to yesterday´s weak quarterly results. The NASDAQ weakened by -0.96% and the Dow Jones dropped by -0.95%. Crude oil fell for the second day in a row due to a cut of its growth forecasts for the U.S. and Japan, two of the top three oil-consuming countries, by the International Monetary Fund. Oil closed at $105.90 a barrel. Gold (XAU) fell as higher risk aversion spread throughout the marketplace today. It closed at $1456 an ounce. It seems traders are taking advantage of unprecedented profit-taking opportunities after last week´s record high level at $1476 an ounce. Today, Core Retail Sales are expected to rise by 0.70% as they had previously. In addition, the Beige Book is also expected to be released.
Euro (EUR) – The Euro strengthened against the Dollar in Forex trading due to US dollar weakness. The pair is finding support at 1.4400. If it once again breaks its resistance at 1.4480, the trend will likely be bullish and it may reach to its next resistance at 1.4625. Overall, EUR/USD traded with a low of 1.4242 and with a high of 1.4486. Today, Industrial Production is expected to go up by 0.80% vs 0.20% previously.
EUR/USD – Last: 1.4473
| Resistance |
1.4480 |
1.4580 |
1.4625 |
| Support |
1.4400 |
1.4360 |
1.4300 |
British Pound (GBP) – The Pound fell against the Green back for the second day following inflation data in the UK. The CPI came out lower than expected, rising by only 4.0% vs a 4.4% growth forecast. If the pair maintains the level of 1.6280 as a resistance, the trend will continue to be bearish. Overall, GBP/USD traded with a low of 1.6262 and with a high of 1.6427. Today, the Claimant Count Change is expected to decline by -3.6K vs -10.2K previously.
GBP/USD – Last: 1.6254
| Resistance |
1.6280 |
1.6320 |
1.6350 |
| Support |
1.6220 |
1.6150 |
1.6060 |
Japanese Yen (JPY) –The Yen traded unchanged against the US Dollar after Japan raised the severity rating of its nuclear crisis to the highest level yet, matching the 1986 Chernobyl disaster. The trend is bearish and the next support level of the USD/JPY on the daily chart is located at 83.50. If the pair breaks below this level, the pair could decline to 83.00 and even less. Overall, USD/JPY traded with a low of 83.45 and with a high of 85.48. No major news is expected to be released.
USD/JPY-Last: 83.80
| Resistance |
84.10 |
84.50 |
84.80 |
| Support |
83.50 |
83.20 |
82.80 |
Canadian dollar (CAD) – The Canadian Dollar declined against the US Dollar after oil fell by -2.54%. In addition, the statement from the Bank of Canada regarding its decision to keep rates unchanged at 1% in order to achieve the 2 per cent inflation target, didn’t provide a reason for investors to buy the Loonie. Overall, USD/CAD traded with a low of 0.9526 and with a high of 0.9624. Today, BOC Monetary Policy Report is expected to be released.
USD/CAD – Last: 0.9620
| Resistance |
0.9630 |
0.9650 |
0.9700 |
| Support |
0.9580 |
0.9560 |
|
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 April 11, 2011 under forex market |
USD Dollar (USD) – The Dollar mostly weakened versus the major currencies of Forex trading after the European central bank raised its interest rate and improved risk sentiment was seen on the back of the global recovery. In addition, U.S. lawmakers remained in a stalemate on a federal budget and Federal Reserve plans to buy Treasuries through June to support faster economic growth. The NASDAQ and Dow Jones weakened by 0.56% and 0.24% respectively, Crude oil rose by 0.32% with Oil advancing for a fourth day as NATO escalated its air campaign over Libya and on concern that unrest may spread to other energy-exporting countries in the Middle East. It closed at $113.15 a barrel, but the climb in oil prices in recent weeks may be set for a pullback following reports that suggest “”Muammar Gaddafi has accepted a roadmap for ending the conflict in Libya”. Gold (XAU) posted fresh all-time highs today, moving above $1470 and closed at $1476.40 per ounce. No major news is expected to be released.
Euro (EUR) – The Euro rose to its highest level in more than 15 month against the Dollar after European Central Bank President Jean Claude Trichet increased the rate in the Euro zone by 0.25%, the first time in almost three years. In addition, Trichet was quoted as saying, “We will continue to do it in the future” and what is appropriate is “to ensure price stability.” The interest rate increase led investors to be a bit more optimistic to the economic outlook. The EUR/USD’s momentum is still very bullish as long as the pair is trading above 1.4400. The next resistance level on the weekly chart is 1.4480. Overall, EUR/USD traded with a low of 1.4242 and with a high of 1.4486. No major economic data is expected today.
EUR/USD – Last: 1.4463
| Resistance |
1.4480 |
1.4515 |
1.4580 |
| Support |
1.4450 |
1.4400 |
1.4360 |
British Pound (GBP) – The Pound rose against the Green back due to good economic data regarding the economic recovery. PPI Input rose by 3.7% vs 2.2% forecast. The GBP/USD‘s resistance is still at 1.6400 and the momentum is still bullish. On the other hand, if the pair breaks below it support at 1.6270, the pair could weaken to it support level at 1.6200. Overall, GBP/USD traded with a low of 1.6262 and with a high of 1.6427. No major economic data is expected today.
GBP/USD – Last: 1.6370
| Resistance |
1.6400 |
1.6450 |
1.6500 |
| Support |
1.6337 |
1.6300 |
1.6270 |
Japanese Yen (JPY) –The Yen traded mixed against the US Dollar as it struggled around the 85.00 level. On the one hand, the Yen gained against the US Dollar on speculation that traders will reduce investments in higher yielding assets funded by the currency after a 7.4 magnitude aftershock hit Japan. But on the other hand, it weakened as the Bank of Japan added to economic stimulus to help the nation’s economic recovery. The next support level of the USD/JPY on the daily chart is located at 84.60, and if the pair breaks below this level, the pair could decline to 84.00 or even less. Overall, USD/JPY traded with a low of 84.58 and with a high of 85.48. The Monetary Policy Meeting Minutes are expected to be published.
USD/JPY-Last: 84.80
| Resistance |
85.50 |
|
|
| Support |
84.60 |
84.20 |
84.00 |
Canadian dollar (CAD) – The Canadian Dollar traded mixed against the US Dollar after an unsuccessful attempt to break its support level of 0.9535. But if crude oil will continue its bullish momentum, the pair will try again to break this support level. As long as USD/CAD is trading below 0.9700 the Canadian Dollar is more attractive and the momentum is very bearish for the US Dollar. The next support level on the four hour chart is located at 0.9430. Overall, USD/CAD traded with a low of 0.9526 and with a high of 0.9624. No major economic data is expected today.
USD/CAD – Last: 0.9555
| Resistance |
0.9600 |
0.9625 |
0.9660 |
| Support |
0.9535 |
0.9430 |
|
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 April 7, 2011 under forex market |
USD Dollar (USD) – The Dollar weakened in Forex trading against the other major currencies after better than expected data came out from the other major countries. This, and strong expectations that the ECB will increase the interest rate in the euro zone, led investors to prefer higher yielding assets. The NASDAQ and Dow Jones strengthened by 0.31% and 0.27% respectively, Crude oil rose by 0.5%, and closed at $108.83 a barrel. Gold (XAU) increased by 0.4% during the session, climbing to a new historic record of $1467. In the end, Gold fell back a little and closed at $1458 an ounce. Today, unemployment claims are expected to decrease from 388K to 385K.
Euro (EUR) – The Euro advanced to its highest level in more than 14 months against the Dollar on speculation that the European central bank will increase the interest rate by 0.25% tomorrow. The EUR/USD’s momentum has been very bullish over the last few days, and as long as the pair is trading above 1.4250 levels and above the 10 moving average on the daily chart, the trend continues to be positive for the Euro. Overall, EUR/USD traded with a low of 1.4228 and with a high of 1.4349. Today, the interest rate decision is expected to rise from 1.00% to 1.25%, there will also be an ECB Press Conference.
EUR/USD – Last: 1.4308
| Resistance |
1.4349 |
|
|
| Support |
1.4274 |
1.4197 |
1.4154 |
British Pound (GBP) – The Pound weakened against the Euro and fluctuated versus the Dollar after a report showed that U.K. manufacturing growth unexpectedly stalled in February (0.0% vs. 0.6% forecast), fueling speculation that the Bank of England will keep interest rates lower for longer. The GBP/USD‘s resistance is at 1.6400 on the daily chart, and if the pair breaks above this level, the pound will continue to rise. Overall, GBP/USD traded with a low of 1.6257 and with a high of 1.6363. Today, the interest rate decision is expected to remain unchanged at 0.50%.
GBP/USD – Last: 1.6309
| Resistance |
1.6363 |
|
|
| Support |
1.6257 |
1.6176 |
1.6089 |
Japanese Yen (JPY) –The Yen slumped against all of the major currencies on bets that the Bank of Japan will expand economic stimulus and keep the interest rate unchanged as the nation recovers from its worst earthquake on record. As long as the USD/JPY is trading above the 84.00 level, the trend is very bullish and a long position is preferred. Overall, USD/JPY traded with a low of 84.84 and with a high of 85.52. Today, there will be a BOJ Press Conference.
USD/JPY-Last: 85.34
| Resistance |
85.52 |
|
|
| Support |
84.84 |
84.15 |
83.85 |
Canadian dollar (CAD) – The Canadian Dollar rose to the strongest level in more than three years against the Dollar as commodities gained amid speculation about faster economic growth and inflation. In addition, the Ivey PMI came out better than expected (73.2 vs. 65.1 forecast) drifting the Canadian as well. As long as USD/CAD is trading below 0.9700, the Canadian Dollar is more attractive and the momentum is very bearish. The next support level on the four hour chart is located at 0.9570. Overall, USD/CAD traded with a low of 0.9568 and with a high of 0.9640. Today, Building Permits are expected to become positive from -5.10% to 2.10%.
USD/CAD – Last: 0.9613
| Resistance |
0.9620 |
0.9685 |
0.9730 |
| Support |
0.9565 |
|
|
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
