Posted by admin on September 22, 2011 under forex market | 
USD Dollar (USD) – In forex trading, the US Dollar strengthened against most of the major currencies after the Federal Reserve’s plan to shift holdings of treasuries to keep the economy from falling into recession. This increased the refuge appeal of the currency. In addition, the FOMC left the rate benchmark unchanged at <0.25%. The Fed plan, called Operation Twist, involves buying $400 billion of bonds with maturities of six to 30 years through June and selling an equal amount of debt maturing in three years or less. It was mentioned in the Fed statement that “There are significant downside risks to the economic outlook, including strains in global financial markets”. As a result the safe-haven currency rose. Earlier today Moody’s Investors Service downgraded the debt rating of Bank of America Corp and Wells Fargo & Co. Moody’s analysts wrote in the report that U.S. support has become less likely if lenders get into financial trouble. Wall Street closed negative as the NASDAQ fell by 2.01% and the Dow Jones declined by 2.49%. Crude oil fell by 2.50% and closed at $84.70 a barrel on concern that slowing economic growth in the U.S will crimp fuel consumption by the world’s biggest crude oil consumer. Gold (XAU) declined by 1.40%, closing at $1,784 an ounce as the US Dollar’s rally eroded demand for the metal as an alternative investment. Today, the Unemployment Claims are expected to rise by 419K vs. 428k previously.
Euro (EUR)–The Euro fell against the U.S Dollar due to a decrease in risk aversion after the Fed announced Operation Twist, which includes measures to support the mortgage market. Trading below the resistance level of 1.3800 will keep the momentum of the pair negative, but if the pair breaks above this resistance level, it may reach the 1.4060 level again. Overall, the EUR/USD traded with a low of 1.3556 and with a high of 1.3796. Today, the German Flash Manufacturing PMI is expected to show 50.20 vs. 50.90 previously. The Flash Manufacturing PMI is expected to show 48.60 vs. 49.00 previously and Industrial New Orders are expected to decline to 1.10% vs. -0.90% previously.
EUR/USD – Last: 1.3540
| Resistance |
1.3600 |
1.3680 |
1.3750 |
| Support |
1.3480 |
1.3430 |
1.3380 |
British Pound (GBP) – The British Pound fell to an 8 week low against the Greenback after Bank of England officials said they may need to buy more bonds to keep borrowing costs capped as the recovery falters.The trend for the pair remains bearish if the pair maintains its resistance level of 1.5670, but if the pair breaks that resistance it may reach the 1.5950 level again. Overall, the GBP/USD traded with a low of 1.5475 and with a high of 1.5688. Today, the CBI Industrial Order Expectations are expected to show -5 vs. 1 previously.
GBP/USD – Last: 1.5450
| Resistance |
1.5500 |
1.5600 |
1.5670 |
| Support |
1.5400 |
1.5320 |
1.5200 |
Japanese Yen (JPY) – The US Dollar strengthened against the Yen after Japanese Finance Minister, Azumi, told reporters in Tokyo today that he’s closely watching markets and will take “bold” action on currencies if needed. Technically, trading above 76.60 will keep the trend bullish. No economic data is expected today.
USD/JPY-Last: 76.80
| Resistance |
77.20 |
78.00 |
78.50 |
| Support |
76.60 |
76.30 |
76.00 |
Canadian Dollar (CAD)–The Canadian Dollar fell to its weakest level versus its U.S. counterpart since January after the Fed announced Operation Twist. The currency, which is linked to Commodities, lost ground as risk aversion has been the theme of the day amid weak stocks and crude oil losses. The trend for the pair will continue to be bullish if the pair maintains its support level of 1.0000. Today, Retail Sales are expected to fall to -0.20% vs. 0.70% previously.
USD/CAD – Last: 1.1030
| Resistance |
1.170 |
1.0200 |
|
| Support |
1.100 |
1.0080 |
1.0050 |
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Posted by admin on September 21, 2011 under forex market |
USD Dollar (USD) – In forex trading the US Dollar fell against the other major currencies as investors are expecting the Fed to offer a new plan to aid the U.S economy. Today the FOMC is expected to publish the results of the two day negotiation. Wall Street closed as the NASDAQ fell by 0.86% and the Dow Jones rose by 0.07%. Crude oil jumped by 1.4% and closed at $86.89 a barrel. Gold (XAU) also rose today by 1.7%, closing at nearly $1,809.1 an ounce. Today, existing Home Sales are expected to be at 4.76M vs. 4.67M. The Crude Oil Inventories is expected at -1.6M, the FOMC Statement is expected and the Federal Funds Rate is expected at 0.25.
Euro (EUR) – The Euro closed almost unchanged against the US Dollar waiting for news on the Greek default. The German ZEW Economic Sentiment came out at -43.3, which is better than the expected -44.30 and the European ZEW came out at -44.6 worse than expected at -42.30. The EUR/USD’s momentum is bearish as long as the pair remains below the 1.3740 level, the next support level on the daily chart is at the 1.3605 level. Overall, the EUR/USD traded at a low of 1.3592 and at a high of 1.3743. No major economic data is expected today.
EUR/USD – Last: 1.3719
| Resistance |
1.3740 |
1.3770 |
1.3827 |
| Support |
1.3692 |
1.3655 |
1.3600 |
British Pound (GBP) – The British Pound rose against the US Dollar yesterday. The momentum of the cable is bearish below the 1.5676 level with a support level at 1.5585 and a resistance level at 1.5840. Overall, the GBP/USD traded with a low of 1.5654 and with a high of 1.5746. Today, the MPC Meeting Minutes are expected at 0-0-9 as previously and the Public Sector Net Borrowing is expected at 11.3B vs. -2.0B previously.
GBP/USD – Last: 1.5735
| Resistance |
1.5775 |
1.5800 |
1.5825 |
| Support |
1.5705 |
1.5675 |
1.5640 |
Japanese Yen (JPY) –The Yen strengthened against the US Dollar as investors are concerned about the future of Greece.The USD/JPY is struggling at the 77.00 level and as long as the pair is trading below the 77.20 level, short positions are preferred. The next support line on the daily chart is located at the 76.00 level. Overall, the USD/JPY traded with a low of 76.34 and with a high of 76.75. Today, the All Industries Activity m/m is expected at 0.90% vs. 2.30% previously.
USD/JPY-Last: 76.35
| Resistance |
76.46 |
76.59 |
76.82 |
| Support |
76.30 |
76.10 |
76.00 |
Canadian dollar (CAD) – The Canadian dollar reached a three day low versus its U.S. counterpart as the International Monetary Fund cut its forecast for global economic growth and reduced projections for Canada. As long as the pair is trading abovethe 0.9880 level, the trend of the US Dollar is bullish.The Moving Average indicator on the one-hour chart supports a positive trend for the US Dollar. Overall, the USD/CAD traded with a low of 0.9881 and with a high of 0.9947. Today, Core CPI is expected at 0.1%% vs. 0.2% previously.
USD/CAD – Last: 0.9926
| Resistance |
0.9947 |
0.9965 |
1.0000 |
| Support |
0.9910 |
0.9885 |
0.9850 |
Tags: currency pair, currency trading, daily forex, daily forex analysis, EUR/USD, foreign exchange, forex account, forex analysis, start forex trading, trade forex, ufx bank, ufxbank, USD/CAD, USD/JPY
Posted by admin on September 20, 2011 under forex market |
USD Dollar (USD) – In forex trading, the Dollar strengthened against the other major currencies as Stocks pared losses in the final hour of trading as Greece reported that discussions with European officials about the country’s bailout were productive. President Obama proposed the “Buffet tax” plan to Congress, to increase taxes from citizens who make more than 1 million dollars a year and more cuts in the government budget that will minimize the deficit by 1.5 trillion Dollars over the next 10 years. Wall Street closed bearish as the NASDAQ fell by 0.36% and the Dow Jones by 0.94%. Crude oil dropped by 2.6% and closed at $85.70 a barrel. Gold (XAU) also fell today by 2% closing at nearly $1,778.90 an ounce. Today, the Building Permits are expected to come out at 0.60M as before.
Euro (EUR) – The Euro fell against the US Dollar as the stocks markets in Europe experienced a sharp drop as investors wait to hear whether Greece will default tomorrow. In addition, Italy’s credit rating was cut by Standard & Poor on concern that weakening economic growth and a “fragile” government means that the nation won’t be able to reduce the Euro region’s second largest debt burden. The EUR/USD’s momentum is bearish as long as the pair remains below the 1.3650 level; the next support level on the daily chart is at the 1.3585 level. Overall, the EUR/USD traded with a low of 1.3604 and with a high of 1.3688. Today, the German ZEW Economic Sentiment is expected to come out at -44.3 vs. -37.6 previously. The European ZEW is expected to come out at -42.3 vs. -40.0 previously.
EUR/USD – Last: 1.3609
| Resistance |
1.3645 |
1.3685 |
1.3715 |
| Support |
1.3585 |
1.3555 |
1.3515 |
British Pound (GBP) – The British Pound fell against the US Dollar as the stock market fell today. The momentum of the GBP/EUR is bearish below 1.5676 with a support level at 1.5585 and resistance level at 1.5840. Overall, the GBP/USD traded with a low of 1.5655 and with a high of 1.5702. No economic data is expected to be published today.
GBP/USD – Last: 1.5674
| Resistance |
1.5682 |
1.5705 |
1.5735 |
| Support |
1.5655 |
1.5630 |
1.5585 |
Japanese Yen (JPY) – The Yen strengthened against the US Dollar as investors are concerned about the future of Greece. The USD/JPY is struggling at the 77.00 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 located at the 76.00 level. Overall, the USD/JPY traded with a low of 76.31 and with a high of 76.96. No economic data is expected to be published today.
USD/JPY-Last: 76.49
| Resistance |
77.45 |
77.30 |
77.70 |
| Support |
76.80 |
76.50 |
76.25 |
Canadian Dollar (CAD) – Canada’s Dollar dropped the most in more than a month against its U.S. counterpart on concern that Greece may not receive an installment of aid, crimping demand for higher-yielding assets. As long as the pair is trading abovethe 0.9880 level, the trend of the US Dollar is bullish.The Moving Average indicator on the one-hour chart supports a positive trend for the US Dollar. Overall, the USD/CAD traded with a low of 0.9892 and with a high of 0.9936. Today, the Bank of Canada Gov Carney speaks and the Wholesale Sales m/m are expected at 0.7% vs. 0.2% previously.
USD/CAD – Last: 0.9927
| Resistance |
0.9935 |
0.9950 |
0.9965 |
| Support |
0.9910 |
0.9895 |
0.9880 |
Tags: currency pair, currency trading, daily forex, daily forex analysis, Daily Forex review, EUR/USD, foreign exchange, foreign exchange market, Forex, forex analysis, forex market, forex online, fx forex, GBP/USD, gold trading, trading online, USD/CAD, USD/JPY
