Posted by admin on October 6, 2011 under forex market | 
USD Dollar (USD) – In forex trading, the US Dollar fell against most major currencies as the appetite for riskier assets increased and investors preferred to purchase higher yielding assets over the Greenback. The ADP Non-Farm Employment Change data came out at 91k better than the expected 76k and triggered the Stock Markets to rally, with the Dow Jones appreciating by 1.21% and the NASDAQ by 2.32%. Crude Oil soared by 5.3% after Stocks showed a drop of -4.7M and Crude Oil closed at $79.60 a barrel. Gold (XAU) also joined the positive trend and increased by 1.6% to close to $1641 an ounce. Today, Unemployment Claims are expected at 411k vs. 391k previously.
Euro (EUR) – The Euro rose against most currencies and was firm against the US Dollar amid optimism about a possible solution to the debt crisis; after Germany said that the bailout fund can be used to recover struggling banks. Retail Sales came out -0.3% worse than the expected -0.2%. Trading below the resistance level of 1.3480 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 1.3260 and with a high of 1.3383. Today, the Interest Rate Decision is expected to remain unchanged at 1.5%. Soon after, the ECB Press Conference is expected, and it might determine further trends for the European Currency.
EUR/USD – Last: 1.3331
| Resistance |
1.3350 |
1.3400 |
1.3460 |
| Support |
1.3300 |
1.3240 |
1.3150 |
British Pound (GBP) – The British Pound fell against the US Dollar on speculation that the Bank of England will encourage its program of bond purchases, or Quantitative Easing, at the policy meeting which is expected today. The GBPUSD pair made several attempts to breach the 1.5490 level but failed and remained capped. The Services PMI came out at 52.9, better than the expected 50.6. The trend for the pair remains bearish if it maintains its resistance level of 1.5730, but if the pair breaks that resistance it may reach the 1.5950 level again. Overall, the GBP/USD traded with a low of 1.5393 and with a high of 1.5492. Today, the Interest Rate Decision is expected to remain unchanged at 0.5%. Soon after, the MPC Rate Statement is expected, and it might determine further trends for the Cable.
GBP/USD – Last: 1.5425
| Resistance |
1.5490 |
1.5550 |
1.5600 |
| Support |
1.5420 |
1.5380 |
1.5340 |
Japanese Yen (JPY) – The US Dollar traded unchanged against the Japanese Yen after the pair did not succeed to break its resistance level of 77.00. Technically, trading below the 76.80 level will keep the trend bearish and the pair may test its support of 76.30. Today, no economic data is expected.
USD/JPY – Last: 76.73
| Resistance |
76.80 |
77.00 |
77.20 |
| Support |
76.55 |
76.30 |
76.10 |
Canadian Dollar (CAD) – The Canadian Dollar gained for a second day against the Greenback as an improvement in market sentiment weakened the US Dollar across the board and Black Gold prices soared, supporting the Loonie. Holding below the resistance area of 1.0500 keeps the momentum bearish for the pair. Overall, the USD/CAD traded with a low of 1.0394 and with a high of 1.0569. Today, the Building Permits are expected at 0.6% vs. 6.3% previously. The Ivey PMI is expected at 58.2 vs. 57.6 previously.
USD/CAD – Last: 1.0425
| Resistance |
1.0480 |
1.0570 |
1.0650 |
| Support |
1.0370 |
1.0280 |
1.0200 |
Tags: currency pair, currency trading, daily forex, daily forex analysis, Daily Forex review, EUR/USD, foreign exchange, forex account, forex analysis, forex market, forex online market, forex online trading, forex robots, Forex Trading, fx trading, start forex trading, ufx bank, ufxbank, USD/CAD, USD/JPY
Posted by admin on October 3, 2011 under forex market |
USD Dollar (USD) – In forex trading, the US Dollar strengthened against most of the major currencies on concerns that global growth is slowing, boosting investors’ demand for currencies perceived as being the safest. It is important to notice that the US Dollar rally is an outcome of the fact which there really is no other choice for a safe haven currency. At the same time, consumer spending in the U.S. slowed in August as incomes unexpectedly dropped for the first time in almost two years. Wall Street closed negative as the NASDAQ fell by 2.63% and the Dow Jones declined by 2.16% as investors speculated that policy makers are doing too little to contain the European debt crisis. Crude oil fell by 0.95% and closed at $78.30 a barrel on signs of slowing growth in China, the U.S. and Germany heightened concern that demand for fuel will weaken. Gold (XAU) trade is unchanged, closing at $1,630 an ounce. Today, the ISM Manufacturing PMI is expected to show 50.50 vs. 50.60 previously.
Euro (EUR)–The Euro fell to a 10-month low against the U.S Dollar due to a decrease in risk aversion amidst high concern that European leaders won’t be able to contain the region’s debt crisis and that Greece may default on its debt. There is still high risk for the European economy despite the effort of the ECB to buy the bonds of Italy and Spain in order to stabilize the nations’ borrowing costs; as well as lending dollars to Euro-area banks, in coordination with the Fed and other central banks, to curb liquidity concerns. Trading below the resistance level of 1.3680 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 1.3330 and with a high of 1.3689. Today, no economic data is expected.
EUR/USD – Last: 1.3320
| Resistance |
1.3400 |
1.3480 |
1.3520 |
| Support |
1.3300 |
1.3220 |
1.3150 |
British Pound (GBP) – The British Pound fell against the Greenback after British Prime Minister Cameron said his government is determined to do everything it can within its deficit-reduction rules to restore growth in the U.K. economy. His words signaled to investors the option of lowering the interest rate in the future. The trend for the pair remains bearish if the pair maintains its resistance level of 1.5730, but if the pair breaks that resistance it may reach the 1.5950 level again. Overall, the GBP/USD traded with a low of 1.5531 and with a high of 1.5715. Today, the Manufacturing PMI is expected to decline to 48.9 vs. 49.0 previously.
GBP/USD – Last: 1.5530
| Resistance |
1.5580 |
1.5600 |
1.5670 |
| Support |
1.5500 |
1.5450 |
1.5420 |
Japanese Yen (JPY) – The US Dollar strengthened against the Yen due to expectations that the central bank of Japan will take “bold” action by purchasing Dollars in order to weaken the Yen and help exporters. Technically, trading above the 76.80 level will keep the trend bullish and the pair may test its resistance of 77.50. Today, no economic data is expected.
USD/JPY – Last: 77.00
| Resistance |
77.20 |
77.50 |
77.80 |
| Support |
76.80 |
76.30 |
76.00 |
Canadian Dollar (CAD)–The Canadian Dollar fell the most since October 2008 on concern that the global economy is sinking back into recession, which spurred a haven rally in the U.S. currency and dimmed the outlook for commodity prices. The currency, which is linked to commodities, lost ground on crude oil losses. The trend for the pair will continue to be bullish if the pair maintains its support level of 1.0350. Today, no economic data is expected.
USD/CAD – Last: 1.0520
| Resistance |
1.0600 |
1.0680 |
1.0760 |
| Support |
1.0480 |
1.0400 |
1.0350 |
Tags: currency pair, currency trading, daily forex, Daily Forex review, foreign exchange, forex demo, forex market, forex news, forex online trading, forex review, forex strategy, Forex Trading, start forex trading, trade forex, Trading Forex, trading online, ufx bank, ufxbank, USD/CAD, USD/JPY
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
