Posted by admin on May 25, 2011 under forex market | 
USD Dollar (USD) – The Dollar fell against most of the major currencies after good economic data came out from Europe, which temporarily relaxed investor concerns over the European economic situation. New Home Sales came out at 323K, better than the expected 305K. During the Asian session, the dollar advanced against the other majors. The NASDAQ and Dow Jones fell by 0.5% and 0.2% respectively. Crude oil rose by 1.9%, closing at $99.59 a barrel. Gold (XAU) rose by 0.5% and closed at $1523.30 an ounce. Today, FOMC Member Plosser Speaks, Core Durable Goods Orders m/m is expected at 0.7% vs. 2.3% previously, and Crude Oil Inventories are expected at -1.6M vs. 0.0 M last week.
Euro (EUR) – The euro gained in Forex trading against the Dollar for the first time in three days as the German Ifo Business Climate showed that confidence unexpectedly held near a record high, fueling bets that the European Central Bank will resume raising interest rates. The EUR/USD is facing serious support at 1.4000 levels, and if the pair breaks below this level, it might decline to 1.3800. Overall, EUR/USD traded with a low of 1.4001 and with a high of 1.4132. Today, the GfK German Consumer Climate is expected unchanged at 5.7.
EUR/USD – Last: 1.4062
| Resistance |
1.4100 |
1.4150 |
1.4300 |
| Support |
1.4000 |
1.3900 |
1.3800 |
British Pound (GBP) – The pound rose against the dollar and fell for the third day against the Euro after Moody’s investors Service said it may lower the credit rating of 14 British lenders and a report showed that the U.K budget deficit widened in April. The next resistance level of the GBP/USD on the four hour chart is located at 1.6200, and if the pair crosses this level, the pound could continue to rise toward 1.6300. The pair has a resistance level at 1.6090 and if it breaks below this level, it might decline to 1.6000. Overall, GBP/USD traded with a low of 1.6057 and with a high of 1.6208. Today the Revised GDP q/q is expected unchanged at 0.5% and the BBA Mortgage Approvals are expected at 32.2K vs. 31.7K.
GBP/USD – Last: 1.6171
| Resistance |
1.6200 |
1.6250 |
1.6300 |
| Support |
1.6150 |
1.6100 |
1.6070 |
Japanese Yen (JPY) –The Yen advanced versus the Dollar after the trade balance came out at -0.50T, better than the expected -0.59T previously. The USD/JPY is struggling with 82.00 levels, and as long as the pair is trading below this level, a short position is preferred. However, if the pair breaks the 82.00 level, it might rise to 83.00-83.50. Overall, USD/JPY traded with a low of 81.60 and with a high of 82.20. No economic data is expected today.
USD/JPY-Last: 81.93
| Resistance |
82.25 |
82.70 |
83.00 |
| Support |
81.70 |
81.40 |
81.00 |
Canadian dollar (CAD) – Canada’s dollar declined against the euro on concern that indicators are showing that the pace of the global recovery may be faltering, but the CAD did manage to advance against the U.S Dollar. According to the 4 hour chart, the pair is facing resistance at 0.9800, and if the pair breaks this level, the rate could jump to 0.9850 and then to 0.9900. Overall, USD/CAD traded with a low of 0.9753 and with a high of 0.9792. Today, no major economic data is expected.
USD/CAD – Last: 0.9786
| Resistance |
0.9800 |
0.9850 |
0.9900 |
| Support |
0.9750 |
0.9700 |
0.9660 |
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 May 24, 2011 under forex market |
USD Dollar (USD) – The Dollar advanced in Forex trading against most of the major currencies as the stock markets had a big drop yesterday on concerns for debt of Greece. In addition, there were riots in Spain over the economic situation in the country, which led investors to keep their money in safer investment channels. The NASDAQ and Dow Jones fell by 1.58% and 1.05% respectively. Crude oil fell by 2.4%, closing at $97.70 a barrel. Gold (XAU) rose by 0.4%, and closed at $1515.40 an ounce. Today, FOMC Member Duke will speak, and New Home Sales are expected at 905K vs. 300K previously.
Euro (EUR) – The euro fell against the Dollar and weakened for a third day against the yen on speculation that Europe’s sovereign-debt crisis is worsening as the region’s industrial expansion slows. The Manufacturing PMI came out at 54.8, worse than the expected 57.6. The EUR/USD is facing a serious support level at 1.4000 levels. If the pair breaks below this level, it might decline to 1.3800. Overall, EUR/USD traded with a low of 1.3968 and with a high of 1.4144. Today, the German Ifo Business Climate is expected at 113.9 vs. 114.2 previously.
EUR/USD – Last: 1.4056
| Resistance |
1.4100 |
1.4150 |
1.4300 |
| Support |
1.4000 |
1.3900 |
1.3800 |
British Pound (GBP) – The pound fell for a third day against the dollar after Sky reported, in a blog on its website, that more than one of the U.K.’s four biggest banks will be put on review today as a withdrawal of government support may increase credit risk. The next resistance level of the GBP/USD on the four hour chart is located at 1.6300. If the pair crosses this level, the pound could continue to rise toward 1.6370, or even more. The pair has a resistance level at 1.6090, and if it breaks below this level, it might decline to 1.6000. Overall, GBP/USD traded with a low of 1.6087 and with a high of 1.6232. Today Public Sector Net Borrowing is expected at 5.0B vs. 16.4B.
GBP/USD – Last: 1.6110
| Resistance |
1.6150 |
1.6200 |
1.6300 |
| Support |
1.6070 |
1.6050 |
1.6000 |
Japanese Yen (JPY) –The Yen weakened versus the Dollar due to yesterday’s dollar strength. The USD/JPY is struggling with 82.00 levels, and as long as the pair is trading below this level, a short position is preferred. However, if the pair breaks the 82.00 level, it might rise between 83.00 and 83.50. Overall, USD/JPY traded with a low of 81.31 and with a high of 82.03. No economic data is expected today.
USD/JPY-Last: 81.80
| Resistance |
82.25 |
82.70 |
83.00 |
| Support |
81.70 |
81.40 |
81.00 |
Canadian dollar (CAD) – The Canadian dollar fell against the US Dollar as crude oil dropped again. According to the 4 hour chart, the pair is facing a resistance at 0.9750, and if the pair breaks this level, the rate might jump to 0.9825 and could rise to 0.9900. Overall, USD/CAD traded with a low of 0.9730 and with a high of 0.9809. Today, no major economic data is expected.
USD/CAD – Last: 0.9760
| Resistance |
0.9783 |
0.9800 |
0.9900 |
| Support |
0.9750 |
0.9700 |
0.9640 |
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 May 23, 2011 under forex market |
USD Dollar (USD) – The Dollar advanced against most of the major currencies as the stock market fell last Friday and investors preferred to keep their money in a safe investment channel. The NASDAQ and Dow Jones fell by 0.71% and 0.74% respectively. Crude oil rose by 1.2%, and closed at $98.30 a barrel. Gold (XAU) rose by 1.5%, closing at $1508 an ounce. The Shanghai Gold Exchange plans to establish stock exchange traded funds to enjoy the increase in demand for gold in China – the world’s largest investment market in precious metal. No major economic data is expected today.
Euro (EUR) – The Euro fell in Forex trading against the dollar and the Yen on concern that the debt crisis in Europe will deepen. The German PPI came out at 1.00%, better than the expected 0.60%. The EUR/USD is holding a serious support level between 1.4100- 1.4080 levels. If the pair breaks below this level, it might decline to 1.4000. Overall, EUR/USD traded with a low of 1.4138 and with a high of 1.4344. Today, the Manufacturing PMI is expected at 57.60 vs. 58.00.
EUR/USD – Last: 1.4085
| Resistance |
1.4100 |
1.4200 |
1.4300 |
| Support |
1.4050 |
1.4000 |
1.3900 |
British Pound (GBP) – The Pound strengthened against the Dollar and the Euro after the ECB said it may no longer accept Greek sovereign debt. The next resistance level of the GBP/USD on the four hour chart is located at 1.6300. If the pair crosses this level, the pound could continue to rise toward 1.6370, or even more. Overall, GBP/USD traded with a low of 1.6165 and with a high of 1.6304. No economic data is expected today.
GBP/USD – Last: 1.6211
| Resistance |
1.6245 |
1.6300 |
|
| Support |
1.6200 |
1.6150 |
1.6100 |
Japanese Yen (JPY) –The Yen weakened versus the Dollar after the Interest Rate Decision came out unchanged at 0.10%. The USD/JPY is struggling with the 82.00 level, and as long as the pair is trading below this level, a short position is preferred. However, once the pair breaks the 82.00 level, it might rise to 83.00-83.50. Overall, USD/JPY traded with a low of 81.47 and with a high of 81.85. No economic data is expected today.
USD/JPY-Last: 81.93
| Resistance |
82.25 |
82.70 |
83.00 |
| Support |
81.50 |
81.00 |
80.70 |
Canadian dollar (CAD) – The Canadian dollar fell against the US Dollar as crude oil stalled. Core Retail Sales came out at -0.10% vs. 0.80% previously, Retail Sales came out at 0.00 vs. 0.90% previously. The Core CPI came out at 0.20% as expected, and the CPI came out at 0.30%, worse than the expected 0.50%. According to the 4 hour chart, the pair is facing resistance at 0.9750, and if the pair breaks this level, the rate might jump to 0.9825 and then to 0.9900. Overall, USD/CAD traded with a low of 0.9640 and with a high of 0.9771. Today, no major economic data is expected.
USD/CAD – Last: 0.9757
| Resistance |
0.9790 |
0.9800 |
0.9900 |
| Support |
0.9720 |
0.9660 |
0.9640 |
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
