Posted by admin on August 9, 2011 under forex market | 
USD Dollar (USD) – In forex trading, the US dollar strengthened against most of the major currencies after the US credit rating was cut from AAA to AA+ by the S&P, even after President Obama’s speech. The markets in Asia opened with a big drop and the Australian dollar traded below the support level of 1.0000 after the market closed, and when Asian stocks dropped and the market was bearish. Investors are panicked and anxiously awaiting the European market to reopen today, in order to see how the US and Euro markets behave. Wall Street closed negative as the NASDAQ declined by 6.90% and Dow Jones dropped by 5.55%. Crude oil fell to $75.60 a barrel and Gold (XAU) jumped to $1,753 an ounce. Today, Nonfarm Productivity is expected at -0.60% vs. 1.80% previously and the Interest Rate decision is expected to remain the same at 0.25%. The FOMC statement is expected today.
Euro (EUR) – The Euro fell against the US dollar to 1.4128 and rebounded to 1.4218 during the Asian market period. The EUR/USD’s momentum is bearish below the 1.4300 level and the next support level on the daily chart is at 1.4000. Overall, the EUR/USD pair traded with a low of 1.4128 and with a high of 1.4228. Today, the German Trade Balance is expected at 11.50B vs. 12.80B previously.
EUR/USD – Last: 1.4223
| Resistance |
1.4247 |
1.4279 |
1.4326 |
| Support |
1.4161 |
1.4084 |
1.4000 |
British Pound (GBP) – The Pound fell against the US Dollar as the dollar strengthened against most other major currencies on concerns that the American economy is declining. As long as the GBP/USD pair is trading below the 1.6350 level, the trend of the Pound is bearish. The next support level on the one hour chart is at 1.6200. The Moving Average Indicator supports a downward trend as well. Overall, the GBP/USD pair traded with a low of 1.6297 and with a high of 1.6336. Today, the Trade Balance is expected at -8.20B vs. -8.50B previously. Industrial Production is expected at 0.40% vs. 0.90 previously and the Manufacturing Production is expected at 0.20% vs. 1.80% as it was before.
GBP/USD – Last: 1.6310
| Resistance |
1.6329 |
1.6358 |
1.6400 |
| Support |
1.6283 |
1.6262 |
1.6200 |
Japanese Yen (JPY) –The Yen strengthened against the U.S Dollar as concern about a U.S. economic slowdown and the euro-region’s debt crisis spurred demand for the Yen. The main trend of the USD/JPY is bearish and as long as the pair is trading below 77.50, the Yen is more attractive and a short position is preferred. Overall, USD/JPY traded with a low of 77.04 and with a high of 77.84. Today, the Tertiary Industry Activity Index is expected at 1.10% vs. 0.90% previously.
USD/JPY-Last: 77.17
| Resistance |
77.45 |
77.86 |
78.25 |
| Support |
76.79 |
76.57 |
76.00 |
Canadian dollar (CAD) – The Canadian dollar fell against the US Dollar as Crude oil dropped to $75 a barrel. As long as the pair is trading above 0.9950, a long position is preferred. Overall, USD/CAD traded with a low of 0.9911 and with a high of 0.9997. Today, the Housing Starts are expected at 195K vs. 201K previously.
USD/CAD – Last: 0.9977
| Resistance |
1.0000 |
1.0050 |
1.0100 |
| Support |
0.9950 |
0.9850 |
|
Tags: currency pair, currency trading, daily forex, daily forex analysis, Daily Forex review, EUR/USD, foreign exchange, foreign exchange market, forex account, forex market, forex news, forex online, forex online market, forex online trading, forex review, forex reviews, forex strategy, learn forex, NASDAQ, Real trading online, trade forex, ufx bank, ufxbank, USD/CAD, USD/JPY
Posted by admin on August 8, 2011 under forex market |
USD Dollar (USD) – In forex trading, the US dollar weakened against most of the major currencies on concern that economic slowdown will worsen and after the S&P cut the American credit rating from AAA to AA+ after the market closed, and when Asian stocks dropped. Investors are panicked and anxiously awaiting the European market to reopen today, in order to see how the market will behave. Futures pared losses after Group of Seven nations said they will take every step necessary to stabilize financial markets. The Nonfarm Payrolls came out at 117K better than the expected 95K and the Unemployment Rate came out at 9.10% better than the expected 9.20%. Wall Street closed mixed as the NASDAQ declined by 0.94% and Dow Jones rose by 0.54% respectively. Crude oil fell to $83.66 a barrel and Gold (XAU) jumped to $1,696 an ounce. No major economic data is expected today.
Euro (EUR) – The Euro rose against the US dollar before the Federal Reserve meeting today, only to decline on monetary policy after the S&P cut the U.S one level. German Industrial Production came out at -1.10% which was worse than the expected 0.10%. The EUR/USD’s momentum is bearish below the 1.4400 level and the next support level on the daily chart is at 1.4000. Overall, the EUR/USD pair traded with a low of 1.4287 and with a high of 1.4430. No major economic data is expected today.
EUR/USD – Last: 1.4315
| Resistance |
1.4350 |
1.4390 |
1.4450 |
| Support |
1.4270 |
1.4240 |
1.4180 |
British Pound (GBP) – The Pound rose against the US Dollar after the S&P cut the rating of the U.S to AA+ for the first time. The Halifax HPI came out at 0.30%, better than the expected 0.10%. As long as the GBP/USD pair is trading below the 1.6500 level, the trend of the Pound is bearish. The next support level on the one hour chart is at 1.6380. The Moving Average Indicator supports a downward trend as well. Overall, the GBP/USD pair traded with a low of 1.6404 and with a high of 1.6477. No major economic data is expected today.
GBP/USD – Last: 1.6260
| Resistance |
1.6440 |
1.6385 |
1.6440 |
| Support |
1.6384 |
1.6470 |
1.6500 |
Japanese Yen (JPY) –The Yen strengthened against the U.S Dollar despite investors concern from the new credit rating of the US and uncertainty before the Federal Reserve meeting. The main trend of the USD/JPY is bearish and as long as the pair is trading below 78.50, the USD is less attractive and a short position is preferred. Overall, USD/JPY traded with a low of 77.90 and with a high of 78.45. No economic data is expected today.
USD/JPY-Last: 78.03
| Resistance |
79.50 |
78.80 |
79.35 |
| Support |
77.65 |
77.20 |
76.60 |
Canadian dollar (CAD) – The Canadian dollar fell against the US Dollar as crude oil dropped on economic slowdown concerns in the US and the fact that the US is the second oil consumer, after China. The Employment Change came out at 7.10K, which was worse than the expected 20K. The Unemployment Rate came out at 7.20%, which was better than the expected 7.40%. The Levy PMI came out at 45.40, worse than the expected 62.90. As long as the pair is trading above 0.9800, a long position is preferred. Overall, USD/CAD traded with a low of 0.9797 and with a high of 0.9863. No major economic data is expected today.
USD/CAD – Last: 0.9841
| Resistance |
0.9860 |
0.9900 |
0.9950 |
| Support |
0.9800 |
0.9770 |
0.9700 |
Tags: currency pair, currency trading, daily forex, daily forex analysis, Daily Forex review, EUR/USD, foreign exchange, foreign exchange market, Forex, forex account, forex analysis, forex demo, forex market, forex online, forex online trading, forex options, forex review, fx trader, fx trading, GBP/USD, start forex trading, Trading Forex, ufxbank, USD/CAD, USD/JPY
Posted by admin on August 4, 2011 under forex market |
USD Dollar (USD) – In forex trading, the Dollar weakened against most of the other major currencies as mixed data was reported, like the ISM PMI, which grew at the slowest pace in 17 months (52.7 vs. 53.8 forecast), however, the ADP Non Farm Employment data– which rose 114,000 from June to July—gave way to positive momentum for risky assets and positively affected a weakened Dollar. Wall Street closed positive as the NASDAQ advanced by 0.89% and the Dow Jones by 0.25% respectively. Crude oil fell by 1.9%, closing at $91.90 a barrel. Gold (XAU) rose to a new record during the session (above $1,675), and in the end strengthened by 1.30% and closed at $1,666 an ounce. Today, Unemployment Claims are expected to rise from 398K to 406K.
Euro (EUR) – The Euro gained against the Dollar as European Retail Sales rebounded in June from a drop in the previous month, and came out at 0.9% vs. 0.5% as expected, supporting a positive Euro. The EUR/USD’s momentum is bullish above the 1.4275 level. The next resistance level on the one hour chart is at the 1.4350 level. Overall, EUR/USD traded with a low of 1.4142 and with a high of 1.4344. Today, the EU interest rate is expected to remain unchanged at 1.50%, following a decision at the ECB Press Conference.
EUR/USD – Last: 1.4295
| Resistance |
1.4370 |
1.4450 |
|
| Support |
1.4275 |
1.4185 |
1.4150 |
British Pound (GBP) – The Pound strengthened against the Dollar as a report showed U.K. services growth unexpectedly strengthened and came out at 55.4 vs. 53.3 forecast. As long as the GBP/USD is trading above the 1.6380 level, the trend of the Pound is bullish. The next resistance level on the one hour chart is located at 1.6480. The RSI indicator also supports an uptrend. Overall, GBP/USD traded with a low of 1.6251 and with a high of 1.6434. Today, the interest rate is expected to remain unchanged at 0.50%, following the UK’s Bank of England MPC rate statement.
GBP/USD – Last: 1.6377
| Resistance |
1.6440 |
1.6475 |
|
| Support |
1.6360 |
1.6300 |
1.6250 |
Japanese Yen (JPY) –The Yen continued to hold strong against the Dollar as U.S. Service Industries came out worse than expected and US stock market instability led investors to prefer the Yen as a safe investment. During the Asian session we saw the Yen fell sharply due to intervening in the foreign exchange market by the Bank of Japan in an effort to stem an appreciating exchange rate that threatened to damage export competitiveness. The main trend of the USD/JPY is becoming bullish; as long as the pair is trading above 78.00, the US Dollar will be favored. Overall, USD/JPY traded with a low of 76.78 and with a high of 77.37. No economic data is expected today.
USD/JPY-Last: 78.92
| Resistance |
79.35 |
80.85 |
|
| Support |
76.70 |
|
|
Canadian dollar (CAD) – The Canadian Dollar touched the lowest level in three weeks versus the US Dollar as Crude oil dropped and US data came out mixed, causing the pair to fall. As long as the pair is trading above the 0.9560 level the momentum of the US Dollar is positive; the next resistance level on the one hour chart is located at 0.9650. Overall, USD/CAD traded with a low of 0.9568 and with a high of 0.9647. No economic data is expected today.
USD/CAD – Last: 0.9640
| Resistance |
0.9650 |
|
|
| Support |
0.9600 |
0.9565 |
0.9490 |
Tags: currency trading, daily forex, daily forex analysis, Daily Forex review, foreign exchange, foreign exchange market, Forex, forex account, forex analysis, forex currency, forex market, forex online, forex online market, forex online trading, forex options, forex review, GBP/USD, gold trading, learn forex, ufx bank, USD/CAD, USD/JPY
