Posted by admin on August 30, 2010 under forex market | 
USD Dollar (USD) – The Dollar weakened against most of the majors in Forex Trading, as an improvement in the market pushed investors towards riskier assets. The Prelim GDP came out 1.6% better than the expected 1.4%. The Michigan Consumer Sentiment Index came out 68.9 worse than an expected 69.4. The NASDAQ and Dow Jones jumped sharply by 1.65% and 1.65% respectively after a negative opening. Crude Oil closed positive for a third day after it soared by 2.8% and closed at $75.53 a barrel. Gold (XAU) traded almost unchanged and closed at $1237 an ounce. Today, the Core PCE Price Index is expected at 0.1% vs. 0% previously. The Personal Spending is expected at 0.3% vs. 0% previously.
EURO (EUR) – The Euro advanced against the dollar after the Fed said that will be ready to take further recovery steps but only if the economy slows significantly which would bring investors to favor higher yielding assets. The German Prelim CPI came out 0% worse than an expected 0.2%. Holding above the support level of 1.2670 keeps the momentum positive for the pair. Overall, EUR/USD traded with a low of 1.2675 and with a high of 1.2779. No economic data is expected today.
EUR/USD – Last: 1.2738
| Resistance |
1.2790 |
1.2830 |
|
| Support |
1.2680 |
1.26 |
|
British Pound (GBP) – The Pound gained against the dollar as the GDP came out 1.2% better than the expected 1.1%. The Prelim Business Investment came out -1.6% worse than an expected 2.3%. Holding above the support level of 1.5485 keeps the momentum positive for the pair. Overall, GBP/USD traded with a low of 1.5440 and with a high of 1.5541. Today, UK banks will be closed in observance of the Summer Bank Holiday;
GBP/USD – Last: 1.5528
| Resistance |
1.5540 |
1.5600 |
|
| Support |
1.5510 |
1.5480 |
1.5380 |
Japanese Yen (JPY) – The Yen, which weakened across the board, was affected by the change in market sentiment favoring riskier assets and also overbought conditions for the Japanese currency. Holding above the support level of 85.40 keeps the momentum positive for the pair. Overall, USD/JPY traded with a low of 84.26 and with a high of 85.75. Today, the Prelim Industrial Production is expected at -0.3% vs. -1.1% previously. The Retail Sales are expected at 3.1% vs. 3.3% previously.
USD/JPY-Last: 85.41
| Resistance |
85.30 |
85.90 |
|
| Support |
84.90 |
83.80 |
|
Canadian dollar (CAD) – Canada’s dollar gained for a third day versus the U.S dollar as the stock markets and Crude Oil gained, boosting demand for the commodity linked currency. Holding below the 1.0535 resistance level, might extend the decline in the pair. Overall, USD/CAD traded with a low of 1.0478 and with a high of 1.0646. Today, the Current Account is expected at -10.2B vs. -7.8B previously.
USD/CAD – Last: 1.0496
| Resistance |
1.0535 |
1.0620 |
1.0660 |
| Support |
1.0440 |
1.0380 |
|
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Posted by admin on August 27, 2010 under forex market |
USD Dollar (USD) – The Dollar weakened against the majors for the second day in a row as an improvement in the market pushed the investors towards riskier assets. The Initial Jobless Claims came out 473K better than the expected 485K. NASDAQ and Dow Jones fell by -1.07% and -0.74%, respectively, after a positive opening. Crude Oil closed positive for a second day at $73.07 a barrel. Gold (XAU) fell from its high level and closed at $1237 an ounce. Today, the Prelim GDP is expected at 1.4% vs. 2.4% previously. The Michigan Consumer Sentiment Index is expected at 69.4 vs. 69.6 previously.
EURO (EUR) – The Euro advanced against the dollar in Forex Trading and managed to close above the 1.27 area. The Gfk German Consumer Climate came out 4.1 unchanged as expected. Holding above the support level of 1.2670 keeps the momentum positive for the pair. Overall, EUR/USD traded with a low of 1.2647 and with a high of 1.2764. Today, the German Prelim CPI is expected at 0.2% vs. 0.3% previously.
EUR/USD – Last: 1.2713
| Resistance |
1.2740 |
1.2790 |
|
| Support |
1.2680 |
1.26 |
|
British Pound (GBP) – The Pound gained against the dollar as the CBI DTS data came out 35 much better than the expected 25. Holding above the support level of 1.5485 will keep the momentum positive for the pair. Overall, GBP/USD traded with a low of 1.5452 and with a high of 1.5595. Today, the GDP is expected unchanged at 1.1%. The Prelim Business Investment is expected at 2.3% vs. 7.8% previously.
GBP/USD – Last: 1.5520
| Resistance |
1.5540 |
1.5600 |
|
| Support |
1.5510 |
1.5480 |
1.5380 |
Japanese Yen (JPY) – The Yen traded almost unchanged versus the dollar in a narrow range with small gains. A demand for the safety currency of Japan is still required for investors, as there is still concern on slowing U.S economic growth. The Tokyo Core CPI came out -1.1% better than the expected -1.2%. Range trading between the 84 – 85 levels is possible till further economic developments. Overall, USD/JPY traded with a low of 84.26 and with a high of 84.87. No economic data is expected today.
USD/JPY-Last: 84.46
| Resistance |
84.90 |
85.40 |
|
| Support |
83.80 |
|
|
Canadian dollar (CAD) – Canada’s dollar gained for a second day versus the U.S dollar as it fell against the majors. Canada’s currency was also supported by a rise in commodities as crude oil rose. Holding below the 1.0660 resistance level, might push the pair downwards. Overall, USD/CAD traded with a low of 1.0519 and with a high of 1.0604. No economic data expected today.
USD/CAD – Last: 1.0577
| Resistance |
1.0620 |
1.0660 |
|
| Support |
1.0535 |
1.0500 |
1.0440 |
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 August 26, 2010 under forex market |
USD Dollar (USD) – The Dollar traded mixed after the Core Durable Goods Orders came out at 3.8%, much weaker than the expected 0.5%. In addition, New Home Sales plunged to the lowest level since 1963. The report came out at 276K, worse than an expected 330K, tacking on more bad news to an already weakening economic recovery. NASDAQ and Dow Jones rose by 0.84% and 0.2% respectively after a negative opening. Crude Oil closed positive after earlier breaking the $71 level and soon recovered to close at $72.87 a barrel. Gold (XAU) hit another rally on the upside, closing at $1240 an ounce. Today, the Initial Jobless Claims is expected at 485K vs. 500K previously.
EURO (EUR) – The Euro gained versus the dollar in Forex Trading for the first day after 5 consecutive days of losses. The German IFO Business Climate came out 106.7, better than the expected 105.8. An upside reversal pattern might be seen if the pair will hold above the 1.2670 levels. Overall, EUR/USD traded with a low of 1.2607 and with a high of 1.2725. Today, the Gfk German Consumer Climate is expected at 4.1 vs. 3.9 previously.
EUR/USD – Last: 1.2696
| Resistance |
1.2640 |
1.2730 |
1.2790 |
| Support |
1.2580 |
|
|
British Pound (GBP) – The Pound gained against the dollar after testing and holding above the 1.54 support zone. Breaching the 1.5485 resistance level might fuel a positive momentum for the pair. Overall, GBP/USD traded with a low of 1.5388 and with a high of 1.5487. Today, the CBI DTS data, which measures the health of the retail sector, is expected at 25 vs. 33 previously.
GBP/USD – Last: 1.5490
| Resistance |
1.5520 |
1.5600 |
|
| Support |
1.5460 |
1.5380 |
|
Japanese Yen (JPY) – The Dollar rose from the bottom versus the Yen on speculations that Japan’s policy makers will take measures to halt the currency’s rapid advance. Breaching the 85 level will put the pair back on the known channel it was on before the plunge. Overall, USD/JPY traded with a low of 83.89 and with a high of 84.87. Today, the Tokyo Core CPI is expected at -1.2% vs. -1.3% previously.
USD/JPY-Last: 84.72
| Resistance |
84.90 |
85.40 |
|
| Support |
84.50 |
83.80 |
|
Canadian dollar (CAD) – The US Dollar fell against the Canadian dollar after 4 consecutive days of rising. This occurred as stocks rose from the day’s lows and Crude Oil, Canada’s biggest export commodity, also jumped. Holding below the 1.0660 resistance level, might push the pair downwards. Overall, USD/CAD traded with a low of 1.0572 and with a high of 1.0666. No economic data is expected today.
USD/CAD – Last: 1.0582
| Resistance |
1.0620 |
1.0660 |
|
| Support |
1.0560 |
1.0500 |
1.0440 |
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
