Posted by admin on October 18, 2011 under forex market | 
USD Dollar (USD) – In forex trading, the US Dollar rose against the major currencies as global stocks and commodities remain lower after Germany’s declaration about Europe’s debt crisis, which stated that there’s no quick fix to the crisis. This led investors to prefer the US Dollar as a safe haven investment. Wall Street closed negative as the NASDAQ decreased by 1.98% and the Dow Jones by 2.13% respectively. Crude oil weakened by 0.5%, closing at $86.38 a barrel. Gold (XAU) declined by 0.52%, finishing at $1671.83 an ounce. Today, the PPI is expected to strengthen from 0.0% to 0.2%. TIC Long Term Purchases are expected to rise from 9.5B to 27.8B and the Federal Chairman Bernanke is expected to speak.
Euro (EUR) – The Euro weakened against the US Dollar as Germany signaled that Europe may take longer to contain its sovereign debt crisis. This put on hold investments into higher yielding assets. The EUR/USD’s momentum became bearish after breaking the 1.3850 level, the next support level on the one hour chart is located at the 1.3700 level. The RSI indicator is trading within the negative range, which supports a downtrend. Overall, the EUR/USD traded with a low of 1.3724 and with a high of 1.3914. Today, the German ZEW Economic Sentiment is expected to be -44.8 vs. -43.3 previously and the ZEW Economic Sentiment is at -45.1 vs.-44.6 previously.
EUR/USD – Last: 1.3773
| Resistance |
1.3800 |
1.3835 |
1.3900 |
| Support |
1.3725 |
1.3685 |
1.3590 |
British Pound (GBP) – The British Pound weakened versus the US Dollar following Germany’s comments about Europe’s sovereign debt crisis. The GBP\USD’s trend has been halted and if the pair breaks up at the1.5800 level, the Pound will be bullish again. Overall, the GBP/USD traded with a low of 1.5731 and with a high of 1.5847. Today, the CPI is expected to rise from 4.5% to 4.9% and the Core CPI is expected to be at 3.2% vs. 3.1% previously. The BOE Governor King is expected to speak.
GBP/USD – Last: 1.5803
| Resistance |
1.5820 |
1.5855 |
|
| Support |
1.5735 |
1.5665 |
1.5540 |
Japanese Yen (JPY) – The Yen rallied against the major currencies as risk appetite remains low, which led investors to stick with the Yen as a refuge currency. The USD/JPY still remains within the 76.50 – 77.50 level and as long as the pair remains between these levels the trend continues to be unclear. Overall, the USD/JPY traded with a low of 76.61 and with a high of 77.45. No economic data is expected today.
USD/JPY-Last: 76.81
| Resistance |
77.00 |
77.20 |
77.40 |
| Support |
76.60 |
76.40 |
|
Canadian dollar (CAD) – The Canadian Dollar weakened versus the US Dollar on declines in stocks and Crude Oil, which caused the US currency to be more attractive as a refuge currency. As long as the pair is trading above the 1.0200 level the US Dollar continues to be the favorite. The Moving Average Indicator on the one hour chart supports a bullish trend as well. The next resistance level on the one hour chart is located at the 1.0280 level. Overall, the USD/CAD traded with a low of 1.0043 and with a high of 1.0239. No economic data is expected today.
USD/CAD – Last: 1.0216
| Resistance |
1.0240 |
1.0275 |
1.0330 |
| Support |
1.0180 |
1.0130 |
1.0050 |
Tags: currency pair, currency trading, daily forex, daily forex analysis, EUR/USD, foreign exchange, foreign exchange market, forex analysis, forex currency, forex market, forex online market, forex online trading, forex review, forex strategy, fx robots, start forex trading, trade forex, ufx bank, ufxbank, USD/CAD, USD/JPY
Posted by admin on October 11, 2011 under forex market |
USD Dollar (USD) – In forex trading, the US Dollar fell versus most of the major’s counterparts as global stocks advanced, sapping demand for the Greenback as a haven currency, causing investors to prefer higher yielding assets. Wall Street closed positive as the NASDAQ advanced by 3.50% and the Dow Jones rose by 2.97% on optimism that Europe will address its debt crisis and after improvement in American economic data. Crude oil climbed to the highest level in two weeks by 2.80% and closed at $85.40 a barrel due to signs that demand will increase. Gold (XAU) jumped by 2.38%, closing at $1,675 an ounce. No economic data is expected today.
Euro (EUR) – The Euro strengthened the most in more than a year versus the US Dollar after French and German leaders pledged to deliver a plan to support banks and repeated a commitment to keep Greece in the single-currency bloc. The leaders promised that they will deliver a plan to recapitalize the region’s banks and address the Greek crisis by the 3rd of November. After the announcement, optimism rose in the market. Therefore the Euro stayed higher even as a report showed European investor confidence fell to the lowest in more than two years. Trading below the resistance level of 1.3700 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 1.3377 and with a high of 1.3697. Today, the ECB President, Trichet is expected to speak.
EUR/USD – Last: 1.3630
| Resistance |
1.3700 |
1.3780 |
1.3850 |
| Support |
1.3600 |
1.3520 |
1.3450 |
British Pound (GBP) – The British Pound gained versus the US Dollar after German Chancellor Angela Merkel and French President Nicholas Sarkozy’s announcement that they will deliver a plan to recapitalize the region’s banks and address the Greek crisis. The trend for the pair remains bearish if it maintains its resistance level of 1.5730, but if the pair breaks that resistance level it may reach the 1.5950 level again. Overall, the GBP/USD traded with a low of 1.5422 and with a high of 1.5645. Today, Manufacturing Production is expected to decline by -0.10% vs. 0.10% previously.
GBP/USD – Last: 1.5630
| Resistance |
1.5670 |
1.5730 |
1.5780 |
| Support |
1.5580 |
1.5550 |
1.5500 |
Japanese Yen (JPY) – The Yen strengthened versus the US Dollar and most majors due to positive economic data. The Current Account came out better than the expected 0.65T vs. the 0.51T forecast. Technically, the USD/JPY is trading within a narrow range with no clear long term trend. If the pair breaks below the 76.00 level, the trend will continue downwards. Tomorrow, Core Machinery Orders are expected to grow by 4.5% vs. -8.2% previously.
USD/JPY – Last: 76.60
| Resistance |
77.00 |
77.20 |
77.80 |
| Support |
76.60 |
76.30 |
76.00 |
Canadian Dollar (CAD) – The Canadian Dollar strengthened against its US counterpart as stocks and commodities, such as crude oil, advanced on speculation that debt concern in Europe may ease, making higher-yielding currencies more attractive. The trend for the pair is bearish, if the pair maintains its resistance level of 1.0330. Today, Housing Starts are expected to grow by 187k vs. 185k previously.
USD/CAD – Last: 1.0290
| Resistance |
1.0330 |
1.0400 |
1.0450 |
| Support |
1.0280 |
1.0230 |
1.0180 |
Tags: currency trading, daily forex analysis, EUR/USD, forex account, forex analysis, forex currency, forex market, forex online, forex online market, forex online trading, forex reviews, GBP/USD, start forex trading, Trading Forex, trading online, ufx bank, ufxbank, USD/CAD, USD/JPY
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
