Posted by admin on September 26, 2011 under forex market | 
USD Dollar (USD) – In forex trading, the US Dollar continued with its bullish trend against the other major currencies as the Fed saw “significant downside risks” to the U.S. economy and the European debt crisis, which continued to top the news headlines. This led investors to stick with the US Dollar as a refuge investment .Wall Street closed bullish after dropping three days as NASDAQ increased by 1.12% and Dow Jones by 0.35% respectively. Crude oil weakened by 0.5%, and closed at $80.5 a barrel. Gold (XAU) plunged by 6.0% as investors sold the precious metal to cover losses on other assets and finished at $1632 an ounce. Today, New Home Sales are expected to be 293K vs. 298K previously.
Euro (EUR) – The Euro erased some losses against the US Dollar as European officials announced that they would be taking steps to prevent further debt contagion in the Euro region. The EUR/USD’s momentum is bearish as long as the pair remains below the 1.3800 level, the next support level on the daily chart is at the 1.3400 level; with the RSI indicator in a negative range, which means that the Euro might continue to decrease. Overall, EUR/USD traded with a low of 1.3418 and with a high of 1.3567. Today, the German IFO Business Climate is expected to decline from 108.7 to 106.80.
EUR/USD – Last: 1.3416
| Resistance |
1.3570 |
1.3745 |
1.3800 |
| Support |
1.3415 |
|
|
British Pound (GBP) – The British Pound fell for a third consecutive day against the US Dollar amid speculation that the Bank of England will respond to slowing global economic growth after saying it may buy more bonds to keep borrowing costs capped. As long as the GBP\USD is trading below the 1.5860 level, the trend of the British Pound is still negative. The next support level on the daily chart is at the 1.5350 level, if the pair breaks below this level the British Pound might slump to the 1.5120 level. Overall, the GBP/USD traded with a low of 1.5359 and with a high of 1.5491. No economic data needs to be published.
GBP/USD – Last: 1.5455
| Resistance |
1.5490 |
1.5635 |
1.5755 |
| Support |
1.5385 |
1.5325 |
|
Japanese Yen (JPY) – The Yen fluctuated against the major pairs on Friday during a positive day for the stock market and for the US Dollar, which caused inconsistency in the Yen. The USD/JPY is struggling at the 76.50 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 the 76.00 level. Overall, the USD/JPY traded with a low of 76.15 and with a high of 76.88. No major news needs to be published.
USD/JPY-Last: 76.40
| Resistance |
77.00 |
77.72 |
|
| Support |
76.10 |
|
|
Canadian dollar (CAD) – The Canadian Dollar weakened versus the US Dollar during a positive range for the US Dollar worldwide. This is tied to the weak closing of oil on Friday, which affected the Canadian Dollar. As long as the pair is trading above the 1.0100 level, the trend of the US Dollar is strongly positive. The Moving Average Indicator on the daily chart supports a bullish trend and the next resistance on the daily chart is located at the 1.0355 level. Overall, the USD/CAD traded with a low of 1.0224 and with a high of 1.0348. No economic data needs to be published.
USD/CAD – Last: 1.0328
| Resistance |
1.0360 |
|
|
| Support |
1.0225 |
1.0110 |
0.9950 |
Tags: currency pair, daily forex, daily forex analysis, EUR/USD, foreign exchange, forex analysis, forex currency, forex demo, forex market, forex news, forex online market, forex reviews, ufx bank, ufxbank, USD/CAD, USD/JPY
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 |
Tags: currency pair, currency trading, daily forex, daily forex analysis, Daily Forex review, EUR/USD, foreign exchange, Forex, forex account, forex demo, forex market, forex online trading, Forex traders, Forex Trading, fx forex, GBP/USD, gold trading, NASDAQ, ufx bank, ufxbank, 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
