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 |
|
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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
Posted by admin on September 19, 2011 under forex market |
USD Dollar (USD) – In forex trading, the Dollar strengthened against the other major currencies as investors await whether Greece will default. President Obama proposed to Congress the “Buffet tax” plan that will increase taxes from citizens who make more than 1 million dollars a year. The TIC Long-Term Purchases came out at 9.5B worse than expected and the Prelim UoM Consumer Sentiment came out at 57.8, better than the expected at 55.7. Wall Street closed bullish as the NASDAQ increased by 0.58% and the Dow Jones by 0.66% respectively, completing one week of a bullish trend. Crude oil dropped by 2% and closed at $87.00 a barrel. Gold (XAU) rose by 2% closing at nearly $1,811 an ounce. Today, the NAHB Housing Market Index is expected at 15 as previously.
Euro (EUR) – The Euro fell against the US Dollar after the European Central Bank said it would keep or even lower the interest rate next year. The Trade Balance came out at -2.5B worse than the expected at 1.7B. The EUR/USD’s momentum is bullish as long as the pair remains above the 1.3650 level, the next resistance level on the one-hour chart is at 1.3780. Overall, the EUR/USD traded with a low of 1.3662 and with a high of 1.3892. No major economic data is expected today.
EUR/USD – Last: 1.3665
| Resistance |
1.3780 |
1.3870 |
1.3935 |
| Support |
1.3660 |
1.3600 |
1.3515 |
British Pound (GBP) – The Pound fell against the US dollar leaving a huge gap towards 1.5700 in early Asia. According to the 4-hour chart and the hourly indicators the trend is bearish towards 1.5500. Overall, the GBP/USD traded with a low of 1.5705 and with a high of 1.5840. No economic data is expected to be published today.
GBP/USD – Last: 1.5697
| Resistance |
1.5755 |
1.5790 |
1.5835 |
| Support |
1.5690 |
1.5650 |
1.5600 |
Japanese Yen (JPY) –The Yen fluctuated against the US Dollar after mixed data was released in the US and the bank leader’s announcement caused the pair to be inconsistent. The USD/JPY is struggling at the 77.00 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 76.00 level. Overall, the USD/JPY traded with a low of 76.64 and with a high of 76.96. No economic data is expected to be published today.
USD/JPY-Last: 76.90
| Resistance |
77.05 |
77.30 |
77.70 |
| Support |
76.80 |
76.50 |
76.25 |
Canadian dollar (CAD) – The Canadian Dollar reached a two-week high against the US Dollar as reports show Foreign Securities Purchases rose. As long as the pair is trading below the 0.9880 level, the trend of the US Dollar is bearish. The Moving Average indicator on the one-hour chart supports a negative trend for the US Dollar. Overall, the USD/CAD traded with a low of 0.9860 and with a high of 0.9785. Today, Gov Council Member Lane speaks.
USD/CAD – Last: 0.9836
| Resistance |
0.9855 |
0.9870 |
0.9900 |
| Support |
0.9820 |
0.9785 |
0.9740 |
Tags: currency pair, daily forex, daily forex analysis, Daily Forex review, EUR/USD, foreign exchange, foreign exchange market, forex account, forex analysis, forex demo, forex news, forex online market, GBP/USD, trade forex, USD/JPY
