Posted by admin on September 20, 2011 under forex market | 
USD Dollar (USD) – In forex trading, the Dollar strengthened against the other major currencies as Stocks pared losses in the final hour of trading as Greece reported that discussions with European officials about the country’s bailout were productive. President Obama proposed the “Buffet tax” plan to Congress, to increase taxes from citizens who make more than 1 million dollars a year and more cuts in the government budget that will minimize the deficit by 1.5 trillion Dollars over the next 10 years. Wall Street closed bearish as the NASDAQ fell by 0.36% and the Dow Jones by 0.94%. Crude oil dropped by 2.6% and closed at $85.70 a barrel. Gold (XAU) also fell today by 2% closing at nearly $1,778.90 an ounce. Today, the Building Permits are expected to come out at 0.60M as before.
Euro (EUR) – The Euro fell against the US Dollar as the stocks markets in Europe experienced a sharp drop as investors wait to hear whether Greece will default tomorrow. In addition, Italy’s credit rating was cut by Standard & Poor on concern that weakening economic growth and a “fragile” government means that the nation won’t be able to reduce the Euro region’s second largest debt burden. The EUR/USD’s momentum is bearish as long as the pair remains below the 1.3650 level; the next support level on the daily chart is at the 1.3585 level. Overall, the EUR/USD traded with a low of 1.3604 and with a high of 1.3688. Today, the German ZEW Economic Sentiment is expected to come out at -44.3 vs. -37.6 previously. The European ZEW is expected to come out at -42.3 vs. -40.0 previously.
EUR/USD – Last: 1.3609
| Resistance |
1.3645 |
1.3685 |
1.3715 |
| Support |
1.3585 |
1.3555 |
1.3515 |
British Pound (GBP) – The British Pound fell against the US Dollar as the stock market fell today. The momentum of the GBP/EUR is bearish below 1.5676 with a support level at 1.5585 and resistance level at 1.5840. Overall, the GBP/USD traded with a low of 1.5655 and with a high of 1.5702. No economic data is expected to be published today.
GBP/USD – Last: 1.5674
| Resistance |
1.5682 |
1.5705 |
1.5735 |
| Support |
1.5655 |
1.5630 |
1.5585 |
Japanese Yen (JPY) – The Yen strengthened against the US Dollar as investors are concerned about the future of Greece. The USD/JPY is struggling at the 77.00 level and 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 76.31 and with a high of 76.96. No economic data is expected to be published today.
USD/JPY-Last: 76.49
| Resistance |
77.45 |
77.30 |
77.70 |
| Support |
76.80 |
76.50 |
76.25 |
Canadian Dollar (CAD) – Canada’s Dollar dropped the most in more than a month against its U.S. counterpart on concern that Greece may not receive an installment of aid, crimping demand for higher-yielding assets. As long as the pair is trading abovethe 0.9880 level, the trend of the US Dollar is bullish.The Moving Average indicator on the one-hour chart supports a positive trend for the US Dollar. Overall, the USD/CAD traded with a low of 0.9892 and with a high of 0.9936. Today, the Bank of Canada Gov Carney speaks and the Wholesale Sales m/m are expected at 0.7% vs. 0.2% previously.
USD/CAD – Last: 0.9927
| Resistance |
0.9935 |
0.9950 |
0.9965 |
| Support |
0.9910 |
0.9895 |
0.9880 |
Tags: currency pair, currency trading, daily forex, daily forex analysis, Daily Forex review, EUR/USD, foreign exchange, foreign exchange market, Forex, forex analysis, forex market, forex online, fx forex, GBP/USD, gold trading, trading online, USD/CAD, USD/JPY
Posted by admin on September 13, 2011 under forex market |
USD Dollar (USD) – In forex trading, the US Dollar closed slightly weaker against most of the majors after it was trading on the daily highs during most of the last trading session amid the debt crisis in Greece. In addition, US President Barack Obama said yesterday that “Businesses are having trouble staying open; you’ve got a world economy that is full of uncertainty right now in Europe and in the Middle East. Some events may be beyond our control, but this is something we can control.” His words described, in simple terms, the uncertainty that rules the financial markets these days. The Equity Markets were trading negative until a few minutes before the closing bell, but then sharply reversed. Obama’s plan to approve a program which will boost employment pushed the Stock Markets to close positive as the Dow Jones climbed by 0.63% and the NASDAQ gained 1.10%. Crude oil jumped by 1.1% and closed at $88.90 a barrel due to crude stockpiles shrinking in the US. Gold (XAU) has slumped by more than -2.5% and closed at $1,815.50 an ounce as the greenback’s recovery increases. Today, the Federal Budget Balance is expected at -126.5B vs. -129.4B previously.
Euro (EUR) – The Euro recovered from its lowest level at 1.3500 since February against the US Dollar after the Financial Times reported that Italy was in contact with a Chinese investment firm that may buy its bonds. However, there is still much concern about the euro zone debt crisis before Italy sells its bonds today, especially Greece, which is nearing default. Breaking the support level of 1.3640 might push the pair lower to the 1.34 zones; otherwise a rebound to the 1.38 areas might be seen. Overall, the EUR/USD traded with a low of 1.3494 and with a high of 1.3694. Today, the French CPI is expected at 0.3% vs. -0.4% previously.
EUR/USD – Last: 1.3673
| Resistance |
1.3730 |
1.3870 |
1.3970 |
| Support |
1.3570 |
1.3500 |
|
British Pound (GBP) – The Pound rebounded from a 7-month low against the US Dollar as the overall trend has changed and the greenback has started to lose gains. The RICS House Price Balance came out at -23%, worse than the expected -22%. Breaking the support level of 1.5830 might push the pair lower to the 1.56 zones; otherwise a rebound to the 1.6 areas might be seen. Overall, the GBP/USD traded with a low of 1.5771 and with a high of 1.5884. Today, the CPI is expected at 4.5% vs. 4.4% previously.
GBP/USD – Last: 1.5860
| Resistance |
1.5900 |
1.5990 |
1.6070 |
| Support |
1.5780 |
|
|
Japanese Yen (JPY) – The Yen has slightly advanced against the US dollar as a demand for refuge increased on concern over the slowing US economy and Eurozone debt problems. The USD/JPY’s trend is bearish if the pair maintains the resistance level at 77.00. The next support point on the daily chart lies at the 76.80 levels. When the pair breaches this level, a short position will be preferred. Overall, the USD/JPY traded with a low of 76.73 and with a high of 77.57. Today, no economic news is expected to be published.
USD/JPY-Last: 77.00
| Resistance |
77.10 |
77.80 |
78.40 |
| Support |
76.80 |
76.30 |
|
Canadian dollar (CAD) – The Canadian Dollar gained against the US Dollar even though earlier the USD/CAD pair was trading above the parity level. Crude oil soared and dragged the Loonie with it. Breaking the support level of 0.9940 might push the pair lower. Overall, the USD/CAD traded with a low of 0.9867 and with a high of 1.0024. Today, no economic news is expected to be published.
USD/CAD – Last: 0.9917
| Resistance |
0.9910 |
1.0020 |
|
| Support |
0.9830 |
0.9740 |
|
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Posted by admin on August 17, 2011 under forex market |
USD Dollar (USD) – In forex trading, the U.S. Dollar traded mixed against most of the major currencies despite positive economic data and optimistic speech of US President Barack Obama. Obama told an audience in rural Iowa that the U.S. economy will come back “stronger than before” after the worst recession in decades, as he sought to regain the initiative on the economic debate. Obama said the recovery must be led by small businesses and entrepreneurs and “isn’t going to be driven by Washington.” In addition, Industrial Production in the U.S. climbed last month by 0.9 percent, the most this year. The Stock markets closed negative after three days of gains as the Dow Jones fell by 0.67% and the NASDAQ lost 1.24%. The main reason is high concern that the European debt crisis may worsen. Crude oil fell by 0.90% and closed at $87.00 a barrel. Gold (XAU) strengthened by 1.70% and closed at $1,786 an ounce, as the sagging European economy spurred demand for the precious metal as an investment haven. Today, PPI m/m is expected to show unchanged vs. -0.40% previously and Crude Oil Inventories are expected to fall by -0.40M vs. -5.2M previously.
Euro (EUR) – The Euro fell against the U.S. Dollar after German and French leaders rejected the issuance of bonds by the European currency region to contain its sovereign-debt crisis. German leader, Merkel said “I don’t think Europe has used its last resource yet, and I don’t think we can resolve the problem with a single big-bang policy”. In addition, the German GDP, adjusted for seasonal effects, grew 0.20% vs. 0.30% forecast. Trading above the support level of 1.4380 will keep the momentum positive for the pair. Overall, the EUR/USD traded with a low of 1.4351 and with a high of 1.4476. Today, the CPI y/y is expected to grow by 2.5% and the Core CPI y/y is expected to grow by 1.7% vs. 1.6% previously.
EUR/USD – Last: 1.4390
| Resistance |
1.4400 |
1.4450 |
1.4520 |
| Support |
1.4380 |
1.4250 |
1.4160 |
British Pound (GBP) – The Pound strengthened against the greenback after a report showed U.K. inflation accelerated more than economists forecast, reducing the likelihood the Central Bank will inject further monetary stimulus into the economy. The trend for the pair remains bullish if the pair maintains its support level of 1.6350, but if the pair breaks that support level, it may reach 1.6150. Overall, the GBP/USD traded with a low of 1.6317 and with a high of 1.6476. Today, the Claimant Count Change is expected to be at 20.1K vs. 24.5K previously and the MPC Meeting Minutes are due to be released.
GBP/USD – Last: 1.6430
| Resistance |
1.6480 |
1.6550 |
1.6620 |
| Support |
1.6380 |
1.6350 |
1.6320 |
Japanese Yen (JPY) – The Yen continued to fluctuate against the US Dollar after Japan indicated that it’s ready to intervene in foreign exchange markets again. The USD/JPY has been struggling between the 76.50 – 76.90 levels. As long as the pair is trading below 77.10, the Yen is more attractive. A short position is preferred if the pair breaks below the 76.30 level. Overall, the USD/JPY pair traded with a low of 76.59 and with a high of 77.09. No economic data is expected today.
USD/JPY-Last: 77.70
| Resistance |
77.20 |
77.50 |
78.00 |
| Support |
76.60 |
76.30 |
|
Canadian dollar (CAD) – The Canadian Dollar fell against its U.S. counterpart due to a decline in oil prices. In addition, the Manufacturing Sales came out worse than expected after showing a decline of -1.50% vs. -0.30% forecast. The trend for the pair will be bullish if the pair maintains its support level of 0.9820. Today, the Foreign Securities Purchases are expected to grow by 10.33B vs. 15.40B previously.
USD/CAD – Last: 0.9820
| Resistance |
0.9840 |
0.9870 |
0.9900 |
| Support |
0.9810 |
0.9780 |
0.9680 |
Tags: currency pair, currency trading, daily forex, daily forex analysis, Daily Forex review, EUR/USD, foreign exchange, foreign exchange market, Forex, forex demo, forex market, forex news, forex online, forex online market, forex strategy, fx forex, fx trade, fx trading, learn forex, NASDAQ, Trading Forex, ufx bank, ufxbank, USD/CAD, USD/JPY
