Posted by admin on September 6, 2011 under forex market | 
USD Dollar (USD) – In forex trading, the dollar strengthened against most of the major currencies due to U.S. growth and euro-zone debt concerns which continue to overshadow the markets, spurring demand for the world’s reserve currency. In addition, Payrolls were unchanged last month, the weakest reading since September 2010, after an 85,000 gain in July that was less than initially estimated. This is further evidence that the economy is very close to stalling, if it isn’t already. Therefore, President Barack Obama said in a speech marking the U.S. Labor Day holiday that spending to rebuild the nation’s infrastructure is a key component of his plan to reignite the economy and boost hiring. Obama’s speech most likely covered his jobs agenda which he’ll unveil in a speech to Congress on Sept. 8 and will include proposals that previously have had support from both parties. The Stock Markets were closed yesterday due to the Labor Day holiday. Crude oil fell for a third day by 2.90% and closed at $83.30 a barrel on concern that slowing economic growth in the U.S. and China will crimp fuel consumption in the world’s two biggest crude users. Gold (XAU) rose by 0.90%, closing at $1,902 an ounce as concern about a global economic slowdown and Europe’s debt woes will worsen, boosting demand for safe haven assets. Today, the ISM Non-Manufacturing PMI is expected to be 51.20 vs. 52.70 previously.
Euro (EUR) – The euro fell for a fifth day against the U.S Dollar on concern that Europe’s debt woes will worsen. 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 1.4180 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 1.4059 and with a high of 1.4314. Today, the German Factory Orders are expected to decline by -1.40% vs. 1.80% previously.
EUR/USD – Last: 1.4070
| Resistance |
1.4100 |
1.4180 |
1.4250 |
| Support |
1.4050 |
1.4000 |
1.3900 |
British Pound (GBP) – The Pound fell to a seven-week low against the greenback after the Services PMI declined, boosting the case for more economic stimulus measures. The trend for the pair remains bearish if the pair maintains its resistance level of 1.6200 but if the pair breaks that resistance it may reach 1.6320. Overall, the GBP/USD traded with a low of 1.6060 and with a high of 1.6253. Today, no economic data is expected.
GBP/USD – Last: 1.6100
| Resistance |
1.6150 |
1.6200 |
1.6250 |
| Support |
1.6060 |
1.6000 |
1.5950 |
Japanese Yen (JPY) – The US Dollar strengthened a bit against the Yen after Minister Jun Azumi said earlier this week on public broadcaster NHK’s “Sunday Debate” program that Japan will take decisive action against speculative moves in the foreign exchange markets, if needed. Technically, the pair remains limited below the 77.00 resistance area. If the 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: 76.80
| 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. The currency which is linked to commodities lost ground for the past week as risk aversion has been the theme of the day amid weak stocks, mounting the euro zone concerns and low volume due to the US Labor Day holiday. The trend for the pair will continue to be bullish if the pair will maintain the support level of 0.9840. Today, no economic data is expected.
USD/CAD – Last: 0.9905
| Resistance |
0.9920 |
0.9950 |
1.0000 |
| Support |
0.9840 |
0.9780 |
0.9750 |
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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 |
|
|
Tags: currency trading, daily forex, daily forex analysis, Daily Forex review, EUR/USD, foreign exchange, foreign exchange market, Forex, forex account, forex analysis, forex currency, forex market, forex online market, forex online trading, forex trading system, fx robots, fx trade, GBP/USD, gold trading, learn forex, NASDAQ, Real trading online, trade forex, Trading Forex, trading online, ufx bank, ufxbank, USD/CAD, USD/JPY
Posted by admin on August 22, 2011 under forex market |
USD Dollar (USD) – In forex trading, the U.S. Dollar fell against most of the major currencies as traders this week expected Federal Reserve Chairman Ben Bernanke to signal that the Central Bank will start a new monetary policy in order to help the United States economy. The Stock markets closed negative as the Dow Jones fell by 1.57% and the NASDAQ also fell by 1.62%. Crude oil dropped by 0.2% and closed at $82.26 a barrel, after Morgan Stanley and Deutsche Bank AG cut their forecasts for global economic expansion. Gold (XAU) strengthened by 6.30% last week and closed at $1,852.20 an ounce– an all time record– due to demand for an investment haven. Today, the MBA Delinquency Rates are expected at 7.76% vs. 8.32% previously.
Euro (EUR) – The Euro strengthened against the U.S. Dollar as currency traders trusted Trichet to save the European countries with budget deficits, like Greece and Portugal. The momentum is bullish, facing a strong resistance at 1.4440. The EUR/USD traded with a low of 1.4381 and with a high of 1.4389. No economic data is expected today.
EUR/USD – Last: 1.4365
| Resistance |
1.4440 |
1.4410 |
1.4580 |
| Support |
1.4355 |
1.4310 |
1.4270 |
British Pound (GBP) – The Pound strengthened against the greenback after a five day rally. The currency declined after the Public Sector Net Borrowing came out -2.00B better than the forecasted 0.20B last Friday. The trend for the pair remains bearish if the pair succeeds to break its support level of 1.6480. Overall, the GBP/USD traded with a low of 1.6485 and with a high of 1.6507. No economic data is expected today.
GBP/USD – Last: 1.6486
| Resistance |
1.6520 |
1.6550 |
1.6620 |
| Support |
1.6480 |
1.6390 |
1.6330 |
Japanese Yen (JPY) – The Yen weakened against the USD, Euro and Pound during the Asian section. The USD/JPY has been struggling around the 76.50 – 76.90 levels. The pairs bullish momentum has increased after it didn’t succeed to break above the support level of 76.30. Overall, the USD/JPY pair traded with a low of 76.54 and with a high of 77.20. No economic data is expected today.
USD/JPY-Last: 76.89
| Resistance |
76.85 |
77.00 |
78.50 |
| Support |
76.60 |
76.30 |
76.00 |
Australian dollar (AUD) Australia’s dollar was 0.9 percent from a one-week low versus the U.S. currency on signs that the global economy is slowing, which in turn reduced demand for higher-yielding assets. The trend for the pair starts the week as bullish, but if it doesn’t pass the resistance at 1.0480, the momentum will return bearish. No economic data is expected today.
AUD/USD – Last: 1.0402
| Resistance |
1.0447 |
1.0490 |
1.0550 |
| Support |
1.0395 |
1.0374 |
1.0324 |
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