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 |
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Posted by admin on September 28, 2011 under forex market |
USD Dollar (USD) – In forex trading, the US Dollar declined against the major currencies amid optimism that European leaders are close to an agreement to contain the region’s debt crisis, damping demand for a refuge currency. In addition, the CB Consumer Confidence came out less than forecasted at 45.4 vs. 46.2 supporting a weak Dollar. Wall Street closed higher for a third day as the NASDAQ increased by 1.20% and the Dow Jones by 1.33% respectively. Crude oil jumped by 5.3% due to optimism in the stock markets and closed at $84.45 a barrel. Gold (XAU) rose by 3.6%, finishing at $1652.5 an ounce. Today, Core Durable Goods Orders are expected to decline from 0.8% to 0.1% and the Federal Chairman, Bernanke, will speak.
Euro (EUR) – The Euro gained for a third day against the US Dollar as German Chancellor Angela Merkel said her nation would help Greece meet the terms of its bailout agreement. Moreover, the Greek Prime Minister won support in parliament for an expansion in the region’s rescue fund, which also contributed the Euro’s gain. The EUR/USD’s momentum remains bearish as long as the pair is trading below the 1.3675 level, when the pair breaks the 1.3675 level, the Euro will become bullish again. The next support level on the one hour chart is located at the 1.3550 level. Overall, the EUR/USD traded with a low of 1.3479 and with a high of 1.3668. Today, the German Prelim CPI is expected to be at -0.1% vs. 0.0% previously.
EUR/USD – Last: 1.3555
|
Resistance
|
1.3670
|
1.3800
|
1.3940
|
|
Support
|
1.3385
|
|
|
British Pound (GBP) – The British Pound strengthened for the third day against the US Dollar as stock gains sapped appetite for the U.S. currency. As long as the GBP\USD is trading above the 1.5550 level, the British Pound’s trend continues to be positive and might rise further. The next resistance level on the one hour chart is at the 1.5750 level. Overall, the GBP/USD traded with a low of 1.5525 and with a high of 1.5705. No economic news needs to be published.
GBP/USD – Last: 1.5621
|
Resistance
|
1.5750
|
1.5870
|
1.6085
|
|
Support
|
1.5430
|
1.5325
|
|
Japanese Yen (JPY) – The Yen weakened against most major pairs as risk appetite led investors to prefer higher yielding assets; the USD/JPY still struggles with the 76.50 – 77.00 level. As long as the pair remains 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 76.26 and with a high of 76.93. Today, Retail Sales are expected to decline from 0.6% to -0.6%.
USD/JPY – Last: 76.58
|
Resistance
|
77.00
|
77.85
|
|
|
Support
|
76.10
|
|
|
Canadian Dollar (CAD) – The Canadian Dollar strengthened against the US Dollar on speculation that Europe’s debt crisis is easing; crude oil’s strength contributed to the gain in the Canadian currency. As long as the pair is trading below the 1.0275 level, the US Dollar loses its bullish momentum. The Moving Average Indicator on the one hour chart supports a bearish trend. The next support on the one hour chart is located at the 1.0125 level. Overall, the USD/CAD traded with a low of 1.0143 and with a high of 1.0281. No economic data needs to be published.
USD/CAD – Last: 1.0256
|
Resistance
|
1.0325
|
1.0385
|
|
|
Support
|
1.0145
|
0.9975
|
0.9800
|
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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
