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 August 25, 2011 under forex market |
USD Dollar (USD) – In forex trading, the US Dollar gained against the other major currencies after Orders for Durable Goods in the U.S. increased to 4%, twice as much as was estimated (4.00% vs. the 2.1% expected) and speculation regarding Bernanke’s announcement this week about providing more stimulus for the economy boosted US assets to become positive. Wall Street closed positive as the NASDAQ rose by 0.88% and the Dow Jones by 1.29% respectively. Crude oil declined by 0.30% and closed at $85.16 a barrel. Gold (XAU) fell by 5.60% owing to investors optimism, which were selling gold and in the end the yellow metal closed at $1,757 an ounce. Today, the Unemployment Claims are expected to be at 405K vs. 408K last week.
Euro (EUR) – The Euro weakened against the US Dollar as the German business confidence dropped to the lowest level in more than a year, coming out at 108.7 vs. 111, which led traders to prefer other assets to invest in. The EUR/USD is struggling at the 1.4400 level in the past few days, and as long as the pair is trading above the 1.4380 level, the Euro is more attractive. The next resistance level on the daily chart is at 1.4500. Overall, the EUR/USD traded with a low of 1.4374 and with a high of 1.4481. Today, the GfK German Consumer Climate is expected to decline from 5.40 to 5.20.
EUR/USD – Last: 1.4407
| Resistance |
1.4452 |
1.4500 |
|
| Support |
1.4375 |
1.4345 |
1.4290 |
British Pound (GBP) – The Pound weakened against the Dollar after the release of U.S. data on the Core Durable Goods Orders came out very positive and generally supported a stronger US Dollar. As long as the GBP\USD is trading below the 1.6430 level, the trend of the Pound is negative. It should be noted that the Moving Average indicator supports a downtrend as well. Overall, the GBP/USD traded with a low of 1.6365 and with a high of 1.6534. Today, the CBI Realized Sales are expected to be -10 vs. -5 prior.
GBP/USD – Last: 1.6371
| Resistance |
1.6435 |
1.6520 |
1.6575 |
| Support |
1.6350 |
|
|
Japanese Yen (JPY) –The Yen weakened against the Dollar as Moody’s Investors Service lowered the nation’s debt rating one step to Aa3. The main trend of the USD/JPY is bearish, and as long as the pair is trading below 77.40, the Yen is more attractive and a short position is preferred. Overall, the USD/JPY traded with a low of 76.46 and with a high of 77.07. No economic data is expected today.
USD/JPY-Last: 76.97
| Resistance |
77.15 |
|
|
| Support |
76.85 |
76.45 |
76.20 |
Canadian dollar (CAD) – The Canadian Dollar fluctuated against the US Dollar as positive reports in the US were released, which led to traders buying higher yielding assets. In addition, crude oil closed weaker, causing the pair to be unstable. As long as the pair is trading above 0.9830 level, the momentum of the US Dollar is positive. The next resistance level on the daily chart is located at 0.9920. Overall, the USD/CAD traded with a low of 0.9839 and with a high of 0.9905. No major data is expected today.
USD/CAD – Last: 0.9876
| Resistance |
0.9910 |
0.9940 |
|
| Support |
0.9835 |
|
|
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Posted by admin on June 28, 2011 under forex market |
USD Dollar (USD) – The dollar declined in forex trading against most of the major currencies on speculation that Greece’s lawmakers will approve austerity measures. In addition, consumer spending unexpectedly stagnated in May as employment prospects dimmed and rising inflation caused Americans to cut back. The situation of persistent high unemployment, a weak housing market, high fuel prices and inflation, have all put pressure on consumers. The Stock Markets closed positive, breaking a three-day losing streak, as the Dow Jones rose by 0.91% and the NASDAQ gained 1.33%. Crude oil strengthened by 0.70%, closing at $91.20 a barrel, on news that Greek creditors may be able to reach an agreement that will prevent a default. Gold (XAU) fell by 0.10% and closed at $1,499 an ounce after reaching $1490 earlier today. Gold has declined over the last few days after capping the biggest weekly drop in seven weeks, as weaker oil prices and a pledge by European Union leaders to avert a Greek default, slashed the metal’s appeal as a safe haven. Today, CB Consumer Confidence is expected to show 60.80 as it was previously, and FOMC Member Fisher is expected to Speak.
Euro (EUR) – The euro strengthened against the U.S Dollar after three days of falling amid optimism Greece’s parliament will approve austerity measures to help avert the currency bloc’s first default later on this week. Greek Prime Minister, Papandreou called today on lawmakers to obey their “patriotic conscience” and back tougher austerity measures, as they began to debate a five-year budget plan that will determine whether the cash-strapped nation can avoid default. Trading above the support level of 1.4250 will keep the momentum bullish for the pair, but if the pair breaks below this support level, it might reach 1.4100 once again. Overall, EUR/USD traded with a low of 1.4115 and with a high of 1.4441. Today, ECB President Trichet is expected to speak.
EUR/USD – Last: 1.4300
| Resistance |
1.4350 |
1.4400 |
1.4480 |
| Support |
1.4250 |
1.4200 |
1.4100 |
British Pound (GBP) – The Pound strengthened against the Greenback after it didn’t succeed to break its strong support level of 1.5900, despite U.K. House Prices falling for a second month in June as growth in the supply of properties for sale outpaced demand. This data provides us a reminder that U.K. data is systematically disappointing at the moment. The trend for the pair remains bearish if the pair is able to maintain its resistance level of 1.6020. Overall, GBP/USD traded with a low of 1.5912 and with a high of 1.6262. Today, the Current Account is expected to fall by -5.0B vs. -10.5B previously, Final GDP q/q is expected to grow by 0.50% as it had previously, and the Inflation Report Hearings are expected to be released.
GBP/USD – Last: 1.5980
| Resistance |
1.6020 |
1.6050 |
1.6150 |
| Support |
1.5960 |
1.5890 |
1.5700 |
Japanese Yen (JPY) – The dollar traded unchanged against the yen after the pair didn’t succeed to break it resistance level of 81.00. If the pair succeeds in breaking its resistance of 80.80, it may bring the pair to 81.20, its next resistance level. Today, no economic data is expected.
USD/JPY-Last: 80.75
| Resistance |
81.00 |
81.20 |
81.80 |
| Support |
80.20 |
80.00 |
79.60 |
Canadian dollar (CAD) – The Canadian Dollar fell against its U.S. counterpart after touching the lowest level in more than three months, as U.S. stocks climbed and losses in commodities, such as crude oil, were tempered. The trend seems to be bearish and the pair may test its support of 0.9820. Today, no economic data is expected.
USD/CAD – Last: 0.9850
| Resistance |
0.9860 |
0.9900 |
1.0050 |
| Support |
0.9800 |
0.9770 |
0.9670 |
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