Posted by admin on July 28, 2011 under forex market | 
USD Dollar (USD) – In forex trading, the Dollar advanced against most the other major currency pairs as an agreement to raise the US debt limit remained elusive, spurring demand for a refuge. In addition, the Durable Goods Orders came out at -2.1% vs. 0.4% previously and the Core Durable Goods came out at 0.1% vs. 0.5% previously. Wall Street closed negative as the NASDAQ fell by 2.65% and the Dow Jones by 1.59% respectively. Crude oil fell by 2.2% owing to the Crude Oil Inventories data which came out better than expected, rising to 2.3M vs. -1.2M previously and closing at $97.40 a barrel. Gold (XAU) declined by 0.35%, closing at $1613.45 an ounce. Today, Unemployment Claims are expected to fall to 412K vs. 418K last week. Pending Home Sales are expected to become negative, from 8.20% to -2.00%.
Euro (EUR) – The Euro fell against the US Dollar after Standard & Poor’s lowered Greece to CC, two steps above default. The EUR/USD’s momentum turned bearish as the pair broke the 1.4450 level; and as long as the Euro is trading below the 1.4400 level, the pair will most likely decrease further from 1.4250 and continue to decline. Overall, EUR/USD traded with a low of 1.4338 and with a high of 1.4536. Today, the German Unemployment Change is expected to fall to -15.00K vs. -8.00K prior.
EUR/USD – Last: 1.4357
| Resistance |
1.4438 |
1.4535 |
|
| Support |
1.4325 |
1.4240 |
|
British Pound (GBP) – The Pound declined from a two-month high against the US dollar as an index of U.K. factory orders fell more than estimated. The CBI Industrial Order came out lower than expected, -10 vs. -2. As long as the GBP/USD is trading below 1.6400 level the momentum of the Pound is bearish, and the next support level on the one hour chart is located at 1.6260; the moving average supports a downtrend. Overall, GBP/USD traded with a low of 1.6312 and with a high of 1.6439. Today, the CBI Realized Sales are expected to become positive, from -2 to 2.
GBP/USD – Last: 1.6337
| Resistance |
1.6340 |
1.6440 |
|
| Support |
1.6260 |
1.6120 |
1.6070 |
Japanese Yen (JPY) –The Yen fluctuated against the Dollar, but managed to close with a small gain, as negative data from the US caused investors to prefer the Yen as a safe haven. The USD/JPY is strongly bearish and as long as the pair is trading below 78.50, the yen is more attractive. Overall, USD/JPY traded with a low of 77.57 and with a high of 78.16. No economic data is expected today.
USD/JPY-Last: 77.84
| Resistance |
78.15 |
78.55 |
79.00 |
| Support |
77.55 |
|
|
Canadian dollar (CAD) – The Canadian Dollar weakened against the US Dollar as the worldwide value of the USD rose and the price of oil fell, causing the Canadian to lose momentum. As long as the pair is trading above the 0.9440 level, the momentum of the US Dollar is positive. The next resistance level on the one hour chart is located at 0.9530. Overall, USD/CAD traded with a low of 0.9410 and with a high of 0.9505. No economic data is expected today.
USD/CAD – Last: 0.9492
| Resistance |
0.9529 |
0.9635 |
0.9780 |
| Support |
0.9400 |
|
|
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Posted by admin on July 27, 2011 under forex market |
USD Dollar (USD) – In forex trading, the dollar slumped against most of the major currencies before the U.S. House of Representatives vote on a plan to cut government spending in exchange for raising the debt ceiling. The CB Consumer Confidence report came out at 59.50, better than the expected 56.00 and New Home Sales came out at 312K, worse than the expected 320K. The Stock Markets in the U.S. closed negative as the Dow Jones fell by 0.73% and the NASDAQ fell by 0.10%. Crude oil rose by 0.4% and closed at $99.15 a barrel. Gold (XAU) advanced by 0.30% and closed at $1,616.80 an ounce. Today, the Core Durable Goods Orders are expected at 0.50% vs. 0.70% previously, and Crude Oil Inventories are expected at -1.30M vs. -3.70M previously.
Euro (EUR) – The Euro rose against the U.S. Dollar and remained around the 1.4500 area. As long as the pair trades above the 1.4480 level, the momentum for the pair is bullish towards the 1.4700 zones. Overall, the EUR/USD traded with a low of 1.4356 and with a high of 1.4535. Today, the German CPI is expected at 0.30% vs. 0.10% previously.
EUR/USD – Last: 1.4505
| Resistance |
1.4535 |
1.4600 |
1.4700 |
| Support |
1.4480 |
1.4440 |
1.4200 |
British Pound (GBP) – The Pound strengthened against the greenback before the debt vote in the U.S. The GDP annual advanced reading showed an expected decline at 0.20%. Further appreciation for the pair is possible if the resistance level of 1.6370 is breached, otherwise we might see some technical adjustment down to 1.6280 zones. Overall, the GBP/USD traded with a low of 1.6265 and with a high of 1.6323. Today, the CBI Industrial Trends Orders are expected at -3.00 vs. 1.00 previously.
GBP/USD – Last: 1.6427
| Resistance |
1.6440 |
1.6500 |
1.6600 |
| Support |
1.6380 |
1.6300 |
1.6170 |
Japanese Yen (JPY) – The U.S. dollar fell against the Yen to the lowest level since the earthquake in Japan last March, as U.S. president Obama addressed the nation on the economy. Trading below the resistance level of 78.00 keeps the trend negative for the pair. Overall, the USD/JPY traded with a low of 77.77 and with a high of 78.68. No economic data is expected today.
USD/JPY-Last: 77.83
| Resistance |
78.00 |
78.20 |
78.45 |
| Support |
77.60 |
77.40 |
77.00 |
Canadian dollar (CAD) – Canada’s dollar appreciated to the highest level since November 2007 as the greenback declined against all of its most-traded counterparts on concern that the U.S. may fail to reach an agreement on raising its debt cap. The pair broke the support level of 0.9440 and held; if the rate remains below this support level, we can see the Canadian Dollar at 0.9350. Overall, the USD/CAD traded with a low of 0.9434 and with a high of 0.9474. Today, no major economic data is expected.
USD/CAD – Last: 0.9436
| Resistance |
0.9450 |
0.9470 |
0.9500 |
| Support |
0.9425 |
0.9400 |
0.9375 |
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Posted by admin on July 26, 2011 under forex market |
USD Dollar (USD) –In forex trading, the dollar strengthened yesterday against the major currencies as the U.S government finished another day without an agreement on the debt ceiling. President Barack Obama has one more week to find a solution for the debt and we might see the dollar rising over the next few days as the investors concerns increase. The Stock Markets in the U.S. closed negative as the Dow Jones fell by 0.70% and the NASDAQ fell by 0.56%. Crude oil fell by 0.7% and closed at $99.20 a barrel. Gold (XAU) fell from its new record and closed at $1612.20 an ounce. Today, the CB Consumer Confidence is expected at 56.00 vs. 58.50 previously and New Home Sales are expected at 320k vs. 319k previously.
Euro (EUR) – The Euro rose against the U.S Dollar after it moved in a range of 100 pips between 1.4320 and 1.4420 yesterday. With the opening of the Asian markets, the Euro rose to 1.4470, breaking the resistance at 1.4440. As long as the rate is above 1.4440, the momentum of the pair is bullish towards 1.4700 zones. Overall, the EUR/USD traded with a low of 1.4324 and with a high of 1.4477. Today, no major economic data is expected.
EUR/USD – Last: 1.4471
| Resistance |
1.4500 |
1.4600 |
1.4700 |
| Support |
1.4440 |
1.4370 |
1.4260 |
British Pound (GBP) – The Pound fell against the greenback yesterday over concern regarding the U.S debt ceiling, but strengthened with the opening of the Asian markets. Further appreciation in the pair is possible if the resistance level of 1.6370 is breached, otherwise we might see some technical adjustment downwards towards 1.6280 zones. Overall, the GBP/USD traded with a low of 1.6261 and with a high of 1.6323. Today, the GDP is expected at 0.20% vs. 0.50% previously.
GBP/USD – Last: 1.6337
| Resistance |
1.6375 |
1.6400 |
|
| Support |
1.6276 |
1.6200 |
1.6120 |
Japanese Yen (JPY) – The dollar fell against the yen to the lowest level since March 17 as U.S. President Barack Obama addressed the nation on the economy. Trading below the resistance level of 78.60 keeps the trend negative for the pair. Overall, the USD/JPY traded with a low of 77.87 and with a high of 78.68. No economic data is expected today.
USD/JPY-Last: 78.11
| Resistance |
78.20 |
78.40 |
78.70 |
| Support |
77.95 |
77.50 |
|
Canadian dollar (CAD) – Canada’s dollar rose against the greenback as concern rose over the U.S debt ceiling issue. In addition, strong economic momentum in Canada also boosted the Loonie. The pair couldn’t break the support level of 0.9440 and rebounded to the 0.9500 area. Overall, the USD/CAD traded with a low of 0.9434 and with a high of 0.9524. Today, no major economic data is expected.
USD/CAD – Last: 0.9439
| Resistance |
0.9470 |
0.9500 |
0.9520 |
| Support |
0.9420 |
0.9400 |
0.9370 |
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