Posted by admin on August 10, 2011 under forex market | 
USD Dollar (USD) – In forex trading, the US Dollar traded mixed after the Federal Reserve kept the interest rate at 0.25% and for the first time in history, it was said that there are no plans to change the interest rate until June 2013 and no immediate plans to start another monetary program. This announcement caused Wall Street to recover most of the losses incurred since the US credit rate was downgraded by the S&P last week. Wall Street closed positive as the NASDAQ jumped by 5.29% and the Dow Jones rose by 3.98%. Crude oil jumped to $82.40 a barrel after the Federal Reserve meeting last night and Gold (XAU) fell to $1,720 an ounce. Today, the Crude Oil Inventories are expected at 1.50M vs. 1.00M previously.
Euro (EUR) – The Euro rose against the US dollar to almost 1.4400 after the Federal Reserve said the interest rate will remain steady at 0.25% until 2013. The EUR/USD’s momentum is still bearish below the 1.4400 level and the next support level on the daily chart is at 1.4280. Overall, the EUR/USD pair traded with a low of 1.4151 and with a high of 1.4375. Today, the German CPI is expected to remain at 0.40%.
EUR/USD – Last: 1.4334
| Resistance |
1.4370 |
1.4400 |
1.4460 |
| Support |
1.4293 |
1.4269 |
1.4210 |
British Pound (GBP) – The Pound closed unchanged against the US Dollar after the trade balance came out at -8.90B, worse than the expected -8.20B. 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 1.6220. Overall, the GBP/USD pair traded with a low of 1.6175 and with a high of 1.6410. Today, the BoE Gov King speaks and the BoE Inflation Report is expected.
GBP/USD – Last: 1.6276
| Resistance |
1.6310 |
1.6353 |
1.6390 |
| Support |
1.6260 |
1.6228 |
1.6190 |
Japanese Yen (JPY) –The Yen strengthened against the U.S. Dollar amid concern about a U.S. economic slowdown and the euro-zone’s debt crisis, spurring 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 76.69 and with a high of 77.84. No major economic data is expected today.
USD/JPY-Last: 76.88
| Resistance |
77.12 |
77.40 |
77.84 |
| Support |
76.75 |
76.50 |
76.00 |
Canadian dollar (CAD) – The Canadian dollar rose against the US Dollar and recovered losses after the Federal Reserve meeting, when Crude oil jumped to $82 a barrel. The Housing Starts came out at 205K, which was better than the expected 195K. As long as the pair is trading above 0.9750, a long position is preferred, facing a strong resistance at 0.9850. Overall, USD/CAD traded with a low of 0.9764 and with a high of 1.0009. No major economic data is expected today.
USD/CAD – Last: 0.9826
| Resistance |
0.9900 |
0.9940 |
1.0000 |
| Support |
0.9800 |
0.9770 |
0.9700 |
Tags: currency trading, daily forex, EUR/USD, foreign exchange, forex analysis, forex reviews, forex robots, forex strategy, Forex traders, Forex Trading, NASDAQ, trade forex, ufx bank, ufxbank, USD/CAD, USD/JPY
Posted by admin on August 1, 2011 under forex market |
USD Dollar (USD) – In forex trading, the Dollar fell against most of the major currencies amid increased risk appetite amongst investors and on speculation that raising the U.S. debt limit will be approved later on today. US President Barack Obama said earlier today that leaders of both parties in the U.S. House and Senate had approved an agreement, which must now be sold to Congress. This agreement will raise the nation’s debt ceiling by $2.1 trillion and cut the federal deficit by as much as $2.5 trillion over a decade. The President’s announcement forestalled the Aug. 2 deadline to default and wore down demand for haven assets. In addition, the Advance GDP expanded at a 1.3 percent annual rate in the second quarter, after a 0.4 percent pace in the prior period, the worst six months since the recovery began in June 2009. The Stock Markets closed negative as the Dow Jones fell by 0.79% and the NASDAQ lost 0.36%. The main reasons are a combination of disappointing US GDP figures and the debt deal negotiations. Crude oil fell by 0.20%, closing at $97.00 a barrel, on concern that a failure to reach a deal on raising the U.S. debt limit may cause the nation to default, and threatening the economy of the world’s biggest crude oil consumer. Gold (XAU) traded unchanged, closing at $1,616 an ounce after reaching an earlier record of $1,632.70 an ounce. Today, the ISM Manufacturing PMI is expected to decline to 55.0 vs. 55.3 previously.
Euro (EUR) – The Euro strengthened against the U.S. Dollar after the release of weak economic data in the US and proceeded to recover from weekly lows at 1.4230. In addition, there are reports which suggest that chances are slim that a US Senate vote on the latest debt agreement will take place before Monday. Trading above the support level of 1.4300 will keep the momentum positive for the pair, but if the pair breaks above this support level, it may reach the 1.4100 level again. Overall, the EUR/USD traded with a low of 1.4228 and with a high of 1.4412. Today, the Unemployment Rate is expected to remain at 9.9% as it was previously.
EUR/USD – Last: 1.4380
| Resistance |
1.4400 |
1.4450 |
1.4520 |
| Support |
1.4300 |
1.4250 |
1.4160
|
British Pound (GBP) – The Pound strengthened against the greenback after the pair didn’t succeed to break its support of 1.6280 and long awaited positive economic data regarding the UK economy was released. The trend for the pair remains bullish if the pair maintains its support level of 1.6320, but if the pair breaks that support, it may reach 1.6150. Overall, the GBP/USD traded with a low of 1.6260 and with a high of 1.6472. Today, the Manufacturing PMI is expected to decline to 51.1 vs. 51.3 previously.
GBP/USD – Last: 1.6440
| Resistance |
1.6480 |
1.6550 |
1.6620 |
| Support |
1.6380 |
1.6320 |
1.6280 |
Japanese Yen (JPY) – The dollar strengthened against the Yen on speculation of a possible agreement in Washington DC; encouraging USD buying as well as covering risk aversion trades. If the pair succeeds to break its resistance level of 78.00, it may bring the pair to the 78.80 resistance level once again. Tomorrow, Average Cash Earnings are expected to grow by 0.40% vs. 1.00% previously.
USD/JPY-Last: 77.70
| Resistance |
78.00 |
78.80 |
79.20 |
| Support |
77.20 |
76.80 |
|
Canadian dollar (CAD) – The Canadian Dollar fell slightly against its U.S. counterpart on concern that the U.S. economy, the main destination for Canadian exports, is losing momentum amid political delays to raising the U.S. debt ceiling. The trend for the pair will be bearish if the pair breaks the support level of 0.9500. Today, most Canadian banks will be closed in observance of Civic Day.
USD/CAD – Last: 0.9520
| Resistance |
0.9580 |
0.9620 |
0.9650 |
| Support |
0.9500 |
0.9480 |
0.9450 |
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Posted by admin on July 27, 2011 under forex market |
USD Dollar (USD) – In forex trading, the dollar slumped against most of the major currencies before the U.S. House of Representatives vote on a plan to cut government spending in exchange for raising the debt ceiling. The CB Consumer Confidence report came out at 59.50, better than the expected 56.00 and New Home Sales came out at 312K, worse than the expected 320K. The Stock Markets in the U.S. closed negative as the Dow Jones fell by 0.73% and the NASDAQ fell by 0.10%. Crude oil rose by 0.4% and closed at $99.15 a barrel. Gold (XAU) advanced by 0.30% and closed at $1,616.80 an ounce. Today, the Core Durable Goods Orders are expected at 0.50% vs. 0.70% previously, and Crude Oil Inventories are expected at -1.30M vs. -3.70M previously.
Euro (EUR) – The Euro rose against the U.S. Dollar and remained around the 1.4500 area. As long as the pair trades above the 1.4480 level, the momentum for the pair is bullish towards the 1.4700 zones. Overall, the EUR/USD traded with a low of 1.4356 and with a high of 1.4535. Today, the German CPI is expected at 0.30% vs. 0.10% previously.
EUR/USD – Last: 1.4505
| Resistance |
1.4535 |
1.4600 |
1.4700 |
| Support |
1.4480 |
1.4440 |
1.4200 |
British Pound (GBP) – The Pound strengthened against the greenback before the debt vote in the U.S. The GDP annual advanced reading showed an expected decline at 0.20%. Further appreciation for the pair is possible if the resistance level of 1.6370 is breached, otherwise we might see some technical adjustment down to 1.6280 zones. Overall, the GBP/USD traded with a low of 1.6265 and with a high of 1.6323. Today, the CBI Industrial Trends Orders are expected at -3.00 vs. 1.00 previously.
GBP/USD – Last: 1.6427
| Resistance |
1.6440 |
1.6500 |
1.6600 |
| Support |
1.6380 |
1.6300 |
1.6170 |
Japanese Yen (JPY) – The U.S. dollar fell against the Yen to the lowest level since the earthquake in Japan last March, as U.S. president Obama addressed the nation on the economy. Trading below the resistance level of 78.00 keeps the trend negative for the pair. Overall, the USD/JPY traded with a low of 77.77 and with a high of 78.68. No economic data is expected today.
USD/JPY-Last: 77.83
| Resistance |
78.00 |
78.20 |
78.45 |
| Support |
77.60 |
77.40 |
77.00 |
Canadian dollar (CAD) – Canada’s dollar appreciated to the highest level since November 2007 as the greenback declined against all of its most-traded counterparts on concern that the U.S. may fail to reach an agreement on raising its debt cap. The pair broke the support level of 0.9440 and held; if the rate remains below this support level, we can see the Canadian Dollar at 0.9350. Overall, the USD/CAD traded with a low of 0.9434 and with a high of 0.9474. Today, no major economic data is expected.
USD/CAD – Last: 0.9436
| Resistance |
0.9450 |
0.9470 |
0.9500 |
| Support |
0.9425 |
0.9400 |
0.9375 |
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