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 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 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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