Posted by admin on September 28, 2011 under forex market | 
USD Dollar (USD) – In forex trading, the US Dollar declined against the major currencies amid optimism that European leaders are close to an agreement to contain the region’s debt crisis, damping demand for a refuge currency. In addition, the CB Consumer Confidence came out less than forecasted at 45.4 vs. 46.2 supporting a weak Dollar. Wall Street closed higher for a third day as the NASDAQ increased by 1.20% and the Dow Jones by 1.33% respectively. Crude oil jumped by 5.3% due to optimism in the stock markets and closed at $84.45 a barrel. Gold (XAU) rose by 3.6%, finishing at $1652.5 an ounce. Today, Core Durable Goods Orders are expected to decline from 0.8% to 0.1% and the Federal Chairman, Bernanke, will speak.
Euro (EUR) – The Euro gained for a third day against the US Dollar as German Chancellor Angela Merkel said her nation would help Greece meet the terms of its bailout agreement. Moreover, the Greek Prime Minister won support in parliament for an expansion in the region’s rescue fund, which also contributed the Euro’s gain. The EUR/USD’s momentum remains bearish as long as the pair is trading below the 1.3675 level, when the pair breaks the 1.3675 level, the Euro will become bullish again. The next support level on the one hour chart is located at the 1.3550 level. Overall, the EUR/USD traded with a low of 1.3479 and with a high of 1.3668. Today, the German Prelim CPI is expected to be at -0.1% vs. 0.0% previously.
EUR/USD – Last: 1.3555
|
Resistance
|
1.3670
|
1.3800
|
1.3940
|
|
Support
|
1.3385
|
|
|
British Pound (GBP) – The British Pound strengthened for the third day against the US Dollar as stock gains sapped appetite for the U.S. currency. As long as the GBP\USD is trading above the 1.5550 level, the British Pound’s trend continues to be positive and might rise further. The next resistance level on the one hour chart is at the 1.5750 level. Overall, the GBP/USD traded with a low of 1.5525 and with a high of 1.5705. No economic news needs to be published.
GBP/USD – Last: 1.5621
|
Resistance
|
1.5750
|
1.5870
|
1.6085
|
|
Support
|
1.5430
|
1.5325
|
|
Japanese Yen (JPY) – The Yen weakened against most major pairs as risk appetite led investors to prefer higher yielding assets; the USD/JPY still struggles with the 76.50 – 77.00 level. As long as the pair remains 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 76.26 and with a high of 76.93. Today, Retail Sales are expected to decline from 0.6% to -0.6%.
USD/JPY – Last: 76.58
|
Resistance
|
77.00
|
77.85
|
|
|
Support
|
76.10
|
|
|
Canadian Dollar (CAD) – The Canadian Dollar strengthened against the US Dollar on speculation that Europe’s debt crisis is easing; crude oil’s strength contributed to the gain in the Canadian currency. As long as the pair is trading below the 1.0275 level, the US Dollar loses its bullish momentum. The Moving Average Indicator on the one hour chart supports a bearish trend. The next support on the one hour chart is located at the 1.0125 level. Overall, the USD/CAD traded with a low of 1.0143 and with a high of 1.0281. No economic data needs to be published.
USD/CAD – Last: 1.0256
|
Resistance
|
1.0325
|
1.0385
|
|
|
Support
|
1.0145
|
0.9975
|
0.9800
|
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Posted by admin on September 5, 2011 under forex market |
USD Dollar (USD) – In forex trading, the US dollar strengthened against most of the major currencies on speculation that European nations will struggle to contain the region’s debt crisis. This spurred demand for the world’s reserve currency. In addition, Payrolls were unchanged last month, the weakest reading since September 2010, after a gain of 85,000 in July that was less than initially estimated. This is further evidence that the economy is very close to stalling if not having stalled. The US jobless rate held at 9.1% as American employers became less confident in the strength of an economic recovery. The present economic condition spurred President Barack Obama to make plans to address a joint session of Congress on Sept. 8 to unveil economic proposals, including tax breaks to spur hiring and more spending on infrastructure. The Stock markets closed negative as the Dow Jones fell by 2.20% and the NASDAQ lost 2.58%. The main reason is because of Friday’s poor economic data. Crude oil fell for a second day by 3.4%, closing at $88.90 a barrel on concern that the U.S. and Chinese economies are weakening, which indicates that fuel demand will falter in the world’s two biggest crude-consuming nations. Gold (XAU) jumped by 3.20%, closing at $1,885 an ounce as concern about a global economic slowdown boosted demand for a haven. Today, no economic data is expected due to the Labor Day holiday.
Euro (EUR) – The Euro fell to a three-week low against the U.S. Dollar on concern that European nations will struggle to contain the region’s debt crisis. In addition, an election loss for German Chancellor Angela Merkel’s party in her home state added to concern that the opposition is growing to bailouts for debt-saddled European nations. Trading below the resistance level of 1.4240 will keep the momentum negative for the pair, but if the pair breaks above this resistance level, it may reach the 1.4350 levels again. Overall, the EUR/USD traded with a low of 1.4135 and with a high of 1.4314. Today, the Retail Sales are expected to decline from 0.7% to 0.1%.
EUR/USD – Last: 1.4170
| Resistance |
1.4220 |
1.4250 |
1.4300 |
| Support |
1.4150 |
1.4110 |
1.4050 |
British Pound (GBP) – The Pound fell against the greenback after the pair didn’t succeed to break the resistance level at 1.6250. The trend for the pair remains bearish if the pair maintains its resistance level of 1.6250, but if the pair will breaks that resistance, it may reach 1.6320. Overall, the GBP/USD traded with a low of 1.6131 and with a high of 1.6253. Today, the Services PMI is expected to come out at 54.3 vs. 55.4 previously.
GBP/USD – Last: 1.6170
| Resistance |
1.6250 |
1.6290 |
1.6350 |
| Support |
1.6120 |
1.6080 |
1.6000 |
Japanese Yen (JPY) – The Dollar strengthened a bit against the Yen after Minister Jun Azumi said yesterday on public broadcaster NHK’s “Sunday Debate” program that Japan will take decisive action against speculative moves in the foreign- exchange markets if needed. If the USD/JPY pair succeeds to break the resistance level of 77.20 it may bring the pair to the 78.00 resistances once again. Today, no economic data is expected.
USD/JPY-Last: 76.70
| Resistance |
77.20 |
78.00 |
78.50 |
| Support |
76.30 |
75.90 |
|
Canadian dollar (CAD) – The Canadian Dollar fell against its U.S. counterpart on concern that the global economy may lapse into another recession, dimming prospects for the nation’s export of raw materials. The trend for the pair will continue to be bullish if the pair maintains the support level of 0.9840. Today, Canadian banks will be closed in observance of Labor Day.
USD/CAD – Last: 0.9870
| Resistance |
0.9900 |
0.9950 |
1.0000 |
| Support |
0.9840 |
0.9780 |
0.9750 |
Tags: currency pair, currency trading, daily forex, daily forex analysis, Daily Forex review, EUR/USD, foreign exchange, foreign exchange market, Forex, forex analysis, forex demo, forex market, forex news, forex online market, forex online trading, forex options, forex review, forex strategy, fx market, fx trading, GBP/USD, learn forex, NASDAQ, trade forex, ufx bank, ufxbank, USD/CAD, USD/JPY
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
