Posted by admin on September 28, 2011 under forex market | 
USD Dollar (USD) – In forex trading, the US Dollar declined against the major currencies amid optimism that European leaders are close to an agreement to contain the region’s debt crisis, damping demand for a refuge currency. In addition, the CB Consumer Confidence came out less than forecasted at 45.4 vs. 46.2 supporting a weak Dollar. Wall Street closed higher for a third day as the NASDAQ increased by 1.20% and the Dow Jones by 1.33% respectively. Crude oil jumped by 5.3% due to optimism in the stock markets and closed at $84.45 a barrel. Gold (XAU) rose by 3.6%, finishing at $1652.5 an ounce. Today, Core Durable Goods Orders are expected to decline from 0.8% to 0.1% and the Federal Chairman, Bernanke, will speak.
Euro (EUR) – The Euro gained for a third day against the US Dollar as German Chancellor Angela Merkel said her nation would help Greece meet the terms of its bailout agreement. Moreover, the Greek Prime Minister won support in parliament for an expansion in the region’s rescue fund, which also contributed the Euro’s gain. The EUR/USD’s momentum remains bearish as long as the pair is trading below the 1.3675 level, when the pair breaks the 1.3675 level, the Euro will become bullish again. The next support level on the one hour chart is located at the 1.3550 level. Overall, the EUR/USD traded with a low of 1.3479 and with a high of 1.3668. Today, the German Prelim CPI is expected to be at -0.1% vs. 0.0% previously.
EUR/USD – Last: 1.3555
|
Resistance
|
1.3670
|
1.3800
|
1.3940
|
|
Support
|
1.3385
|
|
|
British Pound (GBP) – The British Pound strengthened for the third day against the US Dollar as stock gains sapped appetite for the U.S. currency. As long as the GBP\USD is trading above the 1.5550 level, the British Pound’s trend continues to be positive and might rise further. The next resistance level on the one hour chart is at the 1.5750 level. Overall, the GBP/USD traded with a low of 1.5525 and with a high of 1.5705. No economic news needs to be published.
GBP/USD – Last: 1.5621
|
Resistance
|
1.5750
|
1.5870
|
1.6085
|
|
Support
|
1.5430
|
1.5325
|
|
Japanese Yen (JPY) – The Yen weakened against most major pairs as risk appetite led investors to prefer higher yielding assets; the USD/JPY still struggles with the 76.50 – 77.00 level. As long as the pair remains below the 77.20 level, the Yen is more attractive. The next support line on the daily chart is located at the 76.00 level. Overall, the USD/JPY traded with a low of 76.26 and with a high of 76.93. Today, Retail Sales are expected to decline from 0.6% to -0.6%.
USD/JPY – Last: 76.58
|
Resistance
|
77.00
|
77.85
|
|
|
Support
|
76.10
|
|
|
Canadian Dollar (CAD) – The Canadian Dollar strengthened against the US Dollar on speculation that Europe’s debt crisis is easing; crude oil’s strength contributed to the gain in the Canadian currency. As long as the pair is trading below the 1.0275 level, the US Dollar loses its bullish momentum. The Moving Average Indicator on the one hour chart supports a bearish trend. The next support on the one hour chart is located at the 1.0125 level. Overall, the USD/CAD traded with a low of 1.0143 and with a high of 1.0281. No economic data needs to be published.
USD/CAD – Last: 1.0256
|
Resistance
|
1.0325
|
1.0385
|
|
|
Support
|
1.0145
|
0.9975
|
0.9800
|
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Posted by admin on September 27, 2011 under forex market |
USD Dollar (USD) – In forex trading, the US Dollar weakened for the first time in four days against the other major currencies as speculation increased that European leaders will do what is necessary to stem the region’s sovereign debt crisis. In addition, New Homes Sales data fell to a six month low, at 295K vs. 302K, which led investors to prefer other assets for investment. Wall Street closed bullish as the NASDAQ increased by 1.35% and the Dow Jones was down by 2.53% respectively. Crude oil strengthened for the first time in 4 days and rose by 0.5%, closing at $80.24 a barrel. Gold (XAU) weakened by 2.7% and finished at $1594.80 an ounce. Today, the CB Consumer Confidence is expected to rise from 44.5 to 46.2.
Euro (EUR) – The Euro succeeded in closing higher after weakening during the day against the US Dollar. An official reported that the European Central Bank may restart covered bond purchases, along with further measures to ease monetary conditions. The German IFO Business Climate released better data than forecasted at 107.5 vs. 107.0, which also pushed the Euro higher. The EUR/USD’s momentum remains bearish as long as the pair is trading below the 1.3620 level, if the pair breaks up at this level the Euro could continue to rise to the 1.3700 level. Overall, the EUR/USD traded with a low of 1.3362 and with a high of 1.3542. Today the GFK German Consumer Climate is expected to be at 5.1K vs. 5.2K previously.
EUR/USD – Last: 1.3536
| Resistance |
1.3565 |
1.3720 |
1.3800 |
| Support |
1.3460 |
1.3360 |
|
British Pound (GBP) – The British Pound advanced against the US Dollar after Bank of England policy maker, Ben Broadbent, said that inflation expectations remain under control, causing relief about economic growth in the UK. The weakness of the US Dollar contributed to the gain in the British Pound. As long as the GBP\USD is trading above the 1.5500 level, the British Pound may continue to rise and the next resistance level on the four hour chart is at the 1.5750 level. Overall, the GBP/USD traded with a low of 1.5432 and with a high of 1.5570. Today, CBI Realized Sales are expected to remain at the -14 level.
GBP/USD – Last: 1.5571
| Resistance |
1.5595 |
1.5685 |
1.5745 |
| Support |
1.5490 |
1.5420 |
1.5330 |
Japanese Yen (JPY) – The Yen strengthened versus the US Dollar as the negative momentum of the US Dollar against other major pairs contributed to the gain in the Yen. The USD/JPY is still struggling with the 76.50 level and as long as the pair is trading below the 77.20 level, the Yen is more attractive. The next support line on the daily chart is still located at the 76.00 level. Overall, the USD/JPY traded with a low of 76.22 and with a high of 76.76. No economic data needs to be published.
USD/JPY – Last: 76.32
| Resistance |
77.00 |
77.70 |
79.40 |
| Support |
76.00 |
|
|
Canadian dollar (CAD) – The Canadian Dollar erased losses as stock markets and oil climbed, with higher yielding assets emerging more attractive than the US Dollar. As long as the pair is trading above the 1.0180 level, the US Dollar remains positive. The Moving Average Indicator on the daily chart continues to support a bullish trend and the next resistance on the one hour chart is located at the 1.0400 level. Overall, the USD/CAD traded with a low of 1.0249 and with a high of 1.0385. No economic data needs to be published.
USD/CAD – Last: 1.0238
| Resistance |
1.0325 |
1.0385 |
|
| Support |
1.0185 |
0.9940 |
|
Tags: currency pair, currency trading, daily forex analysis, Daily Forex review, foreign exchange, foreign exchange market, forex account, forex analysis, forex currency, forex market, forex online, forex online market, forex online trading, forex strategy, Forex Trading, trade forex, Trading Forex, trading online, ufx bank, ufxbank, USD/CAD, USD/JPY
Posted by admin on September 26, 2011 under forex market |
USD Dollar (USD) – In forex trading, the US Dollar continued with its bullish trend against the other major currencies as the Fed saw “significant downside risks” to the U.S. economy and the European debt crisis, which continued to top the news headlines. This led investors to stick with the US Dollar as a refuge investment .Wall Street closed bullish after dropping three days as NASDAQ increased by 1.12% and Dow Jones by 0.35% respectively. Crude oil weakened by 0.5%, and closed at $80.5 a barrel. Gold (XAU) plunged by 6.0% as investors sold the precious metal to cover losses on other assets and finished at $1632 an ounce. Today, New Home Sales are expected to be 293K vs. 298K previously.
Euro (EUR) – The Euro erased some losses against the US Dollar as European officials announced that they would be taking steps to prevent further debt contagion in the Euro region. The EUR/USD’s momentum is bearish as long as the pair remains below the 1.3800 level, the next support level on the daily chart is at the 1.3400 level; with the RSI indicator in a negative range, which means that the Euro might continue to decrease. Overall, EUR/USD traded with a low of 1.3418 and with a high of 1.3567. Today, the German IFO Business Climate is expected to decline from 108.7 to 106.80.
EUR/USD – Last: 1.3416
| Resistance |
1.3570 |
1.3745 |
1.3800 |
| Support |
1.3415 |
|
|
British Pound (GBP) – The British Pound fell for a third consecutive day against the US Dollar amid speculation that the Bank of England will respond to slowing global economic growth after saying it may buy more bonds to keep borrowing costs capped. As long as the GBP\USD is trading below the 1.5860 level, the trend of the British Pound is still negative. The next support level on the daily chart is at the 1.5350 level, if the pair breaks below this level the British Pound might slump to the 1.5120 level. Overall, the GBP/USD traded with a low of 1.5359 and with a high of 1.5491. No economic data needs to be published.
GBP/USD – Last: 1.5455
| Resistance |
1.5490 |
1.5635 |
1.5755 |
| Support |
1.5385 |
1.5325 |
|
Japanese Yen (JPY) – The Yen fluctuated against the major pairs on Friday during a positive day for the stock market and for the US Dollar, which caused inconsistency in the Yen. The USD/JPY is struggling at the 76.50 level. As long as the pair is trading below the 77.20 level, the Yen is more attractive. The next support line on the daily chart is located at the 76.00 level. Overall, the USD/JPY traded with a low of 76.15 and with a high of 76.88. No major news needs to be published.
USD/JPY-Last: 76.40
| Resistance |
77.00 |
77.72 |
|
| Support |
76.10 |
|
|
Canadian dollar (CAD) – The Canadian Dollar weakened versus the US Dollar during a positive range for the US Dollar worldwide. This is tied to the weak closing of oil on Friday, which affected the Canadian Dollar. As long as the pair is trading above the 1.0100 level, the trend of the US Dollar is strongly positive. The Moving Average Indicator on the daily chart supports a bullish trend and the next resistance on the daily chart is located at the 1.0355 level. Overall, the USD/CAD traded with a low of 1.0224 and with a high of 1.0348. No economic data needs to be published.
USD/CAD – Last: 1.0328
| Resistance |
1.0360 |
|
|
| Support |
1.0225 |
1.0110 |
0.9950 |
Tags: currency pair, daily forex, daily forex analysis, EUR/USD, foreign exchange, forex analysis, forex currency, forex demo, forex market, forex news, forex online market, forex reviews, ufx bank, ufxbank, USD/CAD, USD/JPY
