Posted by admin on September 8, 2011 under forex market | 
USD Dollar (USD) – In forex trading, the Dollar weakened against the other major currencies as the Federal Reserve said its Beige Book survey found the economy grew at a slower pace in some regions of the country. Wall Street closed positive after four negative days led the Dollar to its weakness, the NASDAQ rose by 3.04% and the Dow Jones by 2.47% respectively. Crude oil jumped by 3.9% and closed at $89.30 a barrel. Gold (XAU) fell by 2.9% owing to the positive stock markets close and finished at $1,819 an ounce. Today, Fed Chairman Bernanke speaks and the Trade Balance is expected at -51.00B vs. -53.10B prior. The Unemployment Claims are expected to be at 405K vs. 409K last week.
Euro (EUR) – The Euro rose against the US Dollar after Italian Prime Minister Berlusconi won a confidence vote on austerity measures, adding to progress in addressing the region’s debt crisis. The EUR/USD is struggling around the 1.4100 level, and only if the pair trades above the 1.4150 level will the Euro become more attractive. Overall, EUR/USD traded with a low of 1.4006 and with a high of 1.4149. Today, the Interest Rate decision is expected to remain at 1.00%, after the ECB Press Conference.
EUR/USD – Last: 1.4055
| Resistance |
1.4110 |
1.4150 |
1.4290 |
| Support |
1.4010 |
1.3970 |
|
British Pound (GBP) – The Pound closed positive versus the Dollar as the Stock Market rebounded from a four-day global slump, which encouraged higher-yielding assets. As long as the GBP\USD is trading below the 1.6050 level the trend of the Pound is very bearish. The RSI indicator on the daily chart supports a downtrend as well; the next support level on the one-hour chart is at the 1.5925 level. Overall, the GBP/USD traded with a low of 1.5918 and with a high of 1.6039. Today, the Interest Rate decision is expected to remain unchanged at 0.50%.
GBP/USD – Last: 1.5958
| Resistance |
1.6000 |
1.6040 |
1.6230 |
| Support |
1.5920 |
|
|
Japanese Yen (JPY) –The Yen strengthened against the US Dollar after the Bank of Japan kept their monetary policy unchanged. A negative momentum of the Dollar also led the Yen to be more attractive. The USD/JPY’s trend is positive above the 77.00 level; when the pair breaks the 77.55 level a long position will be preferred. Overall, the USD/JPY traded with a low of 77.07 and with a high of 77.55. No economic data is expected today.
USD/JPY-Last: 77.37
| Resistance |
77.45 |
77.72 |
|
| Support |
77.00 |
76.70 |
|
Canadian dollar (CAD) – The Canadian Dollar gained the most in three weeks versus the US Dollar after the Bank of Canada said it expects growth to resume in the second half of 2011. In addition, the Bank of Canada kept its main interest rate unchanged at 1.00%. As long as the pair is trading below the 0.9900 level the trend of the US Dollar is negative; the next support level on the one-hour chart is located at the 0.9800 level. Overall, the USD/CAD traded with a low of 0.9832 and with a high of 0.9909. Today, Building Permits are expected to decline from 2.1% to 0.2% and the Trade Balance is expected to be at -1.05B vs. 1.60B prior.
USD/CAD – Last: 0.9855
| Resistance |
0.9890 |
0.9925 |
0.9965 |
| Support |
0.9830 |
0.9765 |
|
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Posted by admin on September 7, 2011 under forex market |
USD Dollar (USD) – In forex trading, the dollar strengthened against most of the major currencies due to an increase in demand for a safe haven currency and growing risk aversion among investors after the Swiss Central Bank imposed a ceiling on the currency’s exchange rate. Despite the Dollar’s own woes – economic and political – it remains the most widespread used fiat currency on the planet. Now, as the European crisis takes the stage for another act in the sovereign debt problem, a need for safety has emerged. In addition, the ISM Non-Manufacturing PMI expanded by 53.3 vs. the 51.20 forecasted, easing concern that the biggest part of the U.S. economy was slumping. The Stock Markets closed the week negative as the Dow Jones fell by 0.90% and the NASDAQ lost 0.26%. Crude oil jumped by 3.80% and closed at $86.45 a barrel as a drop in the US dollar – following Switzerland’s attempt to cap the value of its currency – made raw materials more attractive to investors. Gold (XAU) fell from a record by 1.36%, closing at $1,876 an ounce as some investors sold metal to make up for losses in the Swiss franc after the country’s Central Bank imposed a ceiling to the exchange rate. Today, the Beige Book is expected to be released.
Euro (EUR) – The Euro fell for a sixth day against the U.S. Dollar due to growing risk aversion among investors. The European Central Bank is expected to meet tomorrow. European economic data is underperforming by the most since March 2009 and it will probably effect the ECB decision. Trading below the resistance level of 1.4180 will keep the momentum negative for the pair, but if the pair breaks above this resistance level, it may reach to 1.4350 levels again. Overall, the EUR/USD traded with a low of 1.3971 and with a high of 1.4285. Today, the German Industrial Production is expected to grow by 0.60% vs. 1.10% previously.
EUR/USD – Last: 1.4030
| Resistance |
1.4050 |
1.4100 |
1.4180 |
| Support |
1.4000 |
1.3970 |
1.3900 |
British Pound (GBP) – The Pound fell to a seven-week low against the greenback after a report showed that U.K. retail sales dropped by 0.60%, boosting the case for further economic stimulus measures. Such an action will probably keep the British Pound weaker in the long-term against a broad spectrum of currencies. The trend for the pair remains bearish if the pair maintains the resistance level of 1.6200, but if the pair breaks that resistance it may reach 1.6320. Overall, the GBP/USD traded with a low of 1.5920 and with a high of 1.6208. Today, the Manufacturing Production is expected to grow by 0.10% vs. -0.40% previously.
GBP/USD – Last: 1.5980
| Resistance |
1.6020 |
1.6080 |
1.6120 |
| Support |
1.5950 |
1.5900 |
1.5860 |
Japanese Yen (JPY) – The US dollar strengthened against the Yen after yesterday’s move by the SNB to announce a floor of 1.2000 for the EUR/CHF pair prompted speculations that the BoJ may follow and announce a similar action. Trading above the support level of 77.20 will keep the trend bullish for this pair. Today, no economic data is expected.
USD/JPY-Last: 77.40
| Resistance |
77.60 |
78.00 |
78.50 |
| Support |
77.20 |
77.00 |
76.30 |
Swiss Franc (CHF) – The Swiss Franc dropped the most it ever has against the Euro and the US Dollar, after the Swiss Central Bank imposed a ceiling on the currency’s exchange rate and said it will defend the target with the “utmost determination.” The trend for the pair will continue to be bullish if the pair will maintain the support level of 0.8500. Today, no economic data is expected.
USD/CHF – Last: 0.8590
| Resistance |
0.8610 |
0.8700 |
0.8800 |
| Support |
0.8540 |
0.8500 |
0.8450 |
Tags: 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 review, forex reviews, forex robots, Forex traders, fx trade, GBP/USD, gold trading, NASDAQ, start forex trading, ufx bank, ufxbank, USD/CAD, USD/JPY
Posted by admin on August 29, 2011 under forex market |
USD Dollar (USD) – In forex trading, the Dollar slumped against the other major currencies after Bernanke did not comment on a third quantity ease plan for QE3 during his speech, but affirmed that the FED has tools that could be used to provide additional monetary stimulus, as economic recovery has been weaker than expected and then shifted focus to September 2nd, the day of the FOMC meeting. The Preliminary GDP came out at 1%, worse than the expected at 1.1%. U.S. Stock Markets advanced as the Dow Jones rose by 1.21% and the NASQAQ gained 2.49%. Crude oil closed at $85.50 a barrel but remains strongly under range; this commodity has been trading for a fourth day between the 83 – 86.4 areas and will stay capped unless those boundaries are finally breached. Gold (XAU) recovered aggressively to trade above the 1800 zones and closed at $1,827 an ounce. Today, the Pending Home Sales are expected at -0.8% vs. 2.4% previously.
Euro (EUR) – The Euro advanced against the US Dollar and reached the 1.45 area after the FED said that the US economy isn’t weak enough to warrant immediate additional stimulus but it might be in the future. Breaching the resistance level of 1.4570 might extend gains for the pair; otherwise the pair will decline to the 1.4440 level. Overall, the EUR/USD traded with a low of 1.4328 and with a high of 1.4502. Today, the ECB President is expected to speak on the debt crisis.
EUR/USD – Last: 1.4484
| Resistance |
1.4505 |
|
|
| Support |
1.4440 |
1.4340 |
1.4270 |
British Pound (GBP) – The Pound gained against the Dollar and was back to trading above the 1.63 area, recovering from the week’s lows. The Revised GDP came out as expected at 0.2%. As long as the GBP\USD is trading below 1.6400 levels, the trend of the pound is bearish. The Moving Average indicator supports a downtrend as well; the next support level on the one hour chart is at 1.6250. Overall, the GBP/USD traded with a low of 1.6206 and with a high of 1.6377. Today, UK Banks will be closed in observance of the Summer Bank Holiday.
GBP/USD – Last: 1.6369
| Resistance |
1.6400 |
1.6530 |
|
| Support |
1.6320 |
1.6220 |
1.6120 |
Japanese Yen (JPY) – The Yen gained against the US Dollar after Federal Reserve Chairman Ben S. Bernanke disappointed investors and did not supply more market stimulus at this stage. Holding above the critical support level of 76.40 keeps the momentum positive for the USD/JPY pair. Overall, the USD/JPY traded with a low of 76.48 and with a high of 77.51. Today, the Retails Sales are expected to come out unchanged at 1.2%.
USD/JPY-Last: 76.69
| Resistance |
77.20 |
77.70 |
|
| Support |
76.40 |
|
|
Canadian dollar (CAD) – The Canadian Dollar rose for the first time against the US Dollar after 4 weeks as equities gained on Bernanke’s comment that the U.S. economy will probably recover during the second half of this year. As long as the pair is trading above the 0.9800 levels, the trend of the US Dollar is positive and the next resistance level on the daily chart is located at 0.9925. Overall, USD/CAD traded with a low of 0.9807 and with a high of 0.9922. No economic data is expected today.
USD/CAD – Last: 0.9798
| Resistance |
0.9920 |
1.0000 |
|
| Support |
0.9770 |
0.9640 |
|
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