Posted by
NigelGee on November 30, 2009 |
No comments
USD Dollar (USD)
The Dollar lowered versus most majors on Friday as Dubai debt concerns were reduced due to UAE’s pledge to back foreign and domestic banks in Dubai. NASDAQ and Dow Jones dropped by -1.73% and -1.48% after being closed on Thursday due to Thanksgiving. Crude fell by -2.45% closing at 76.05$ a barrel and Gold (XAU) fell for the first time in 9 days with -1.08% change closing at 1174.2$ an ounce. Today, Chicago PMI is expected weaker with 53.1 versus 54.2 prior.
EURO (EUR)
The Euro gained slightly versus the Dollar on Friday’s session as liquidity was lower and stocks declined as a result of Dubai’s financial crisis. The Euro paired its losses as rumors of the UAE backing Dubai’s bank leaked to the market. EUR/USD traded with a low of 1.4828 and with a high of 1.50. Today, CPI Flash Estimate is expected with 0.5% versus -0.1% prior.
EUR/USD – Last: 1.5025
|
Resistance
|
1.5055
|
1.5100
|
|
|
Support
|
1.4950
|
1.4870
|
1.4825
|
British Pound (GBP)
The Pound gained versus the Dollar after UAE’s pledge to back Dubai raised risk appetite again lifting the Pound from its monthly lows. Overall, GBP/USD traded with a low of 1.6271 and a high of 1.6510. Today, Net Lending to Individuals is expected with 0.8B versus 0.6B prior, stronger result will lead to less need to expend Britain’s QE program. Mortgage Approvals are expected stronger with 59K versus 56K prior.
GBP/USD – Last: 1.6540
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Resistance
|
1.6590
|
1.6650
|
|
|
Support
|
1.6450
|
1.6375
|
1.6325
|
Japanese Yen (JPY)
The Yen weakened versus the Dollar as uncertainty about the Dubai crisis lowered following UAE’s announcement. Investors shifted back from the safety of the Yen to higher yielding currencies. Overall, USD/JPY traded with a low of 85.08 and a high of 87.01 and EUR/JPY traded with a low of 127.38 and a high of 130.14. No economic data expected today.
USD/JPY-Last: 86.80
|
Resistance
|
87.05
|
87.50
|
88.00
|
|
Support
|
86.30
|
85.75
|
85.25
|
Canadian dollar (CAD)
The Canadian Dollar remained unchanged versus the Dollar as commodities prices dropped but Dubai’s financial crisis uncertainty lowered. Current Account came out weaker than expected with -13.1B versus -12.9B forecast and -11.9B prior. Overall, USD/CAD traded with a low of 1.0585 and a high of 1.0748. Today, GDP is expected stronger with 0.4% versus -0.1% prior. RMPI is expected stronger with 3.1% versus -1.1% prior.
CAD/USD – Last: 1.0585
|
Resistance
|
1.0650
|
1.0700
|
1.0750
|
|
Support
|
1.0570
|
1.0540
|
1.0505
|
Research by http://www.ufxbank.com
Tags: Daily Forex Review, forex review
Posted by
NigelGee on November 27, 2009 |
No comments
USD Dollar (USD)
The Dollar climbed against all majors after Dubai’s attempt to reschedule its debt by 6 month caused Europe Stocks to drop heavily and spurred investors to seek the safety of assets perceived as lower risk. Stocks market in U.S were close due to the Thanksgiving holiday. Crude oil fell by 3% closing at 76.2$ a barrel. Gold (XAU) closed almost unchanged at 1191.85 $ an ounce but dropped during Asia session falling back to 1170$ levels. No economic data expected today.
EURO (EUR)
The Euro fell against the Dollar following the collapse of stock markets in Europe as a result of Dubai’s debt rescheduling. EUR/USD pair traded with a low of 1.4959 and with a high of 1.5141. Loans to Euro zone households and firms fell in October for the second month in a row, coming at 0.3% vs. 0.7% forecast. No important data expected today.
EUR/USD – Last: 1.4945
|
Resistance
|
1.5020
|
1.5100
|
1.5144
|
|
Support
|
1.4913
|
1.4830
|
1.4800
|
British Pound (GBP)
The Pound fell versus the Dollar as stocks declined and a proposal by Dubai to delay debt payments prompted investors to seek what they perceive to be safer securities. Overall, GBP/USD traded with a low of 1.6466 and with a high of 1.6725. CBI Realized Sales came out at 13 vs. 12 forecast.
GBP/USD – Last: 1.6406
|
Resistance
|
1.6530
|
1.6648
|
1.6720
|
|
Support
|
1.6376
|
|
|
Japanese Yen (JPY)
The Yen rallied to a 14-year high against the Dollar, climbing past the 85.00 level, on speculation Japanese monetary authorities will tolerate further appreciation of the currency. Overall, USD/JPY traded with a low of 84.81 and with a high of 87.48. Tokyo Core CPI came out better than expected at -1.9% vs. -2% forecast.
USD/JPY-Last: 86.37
|
Resistance
|
87.00
|
87.70
|
88.62
|
|
Support
|
85.80
|
85.00
|
|
Canadian dollar (CAD)
The Canadian Dollar weakened against its U.S. counterpart by the most in almost four weeks as Dubai’s plan to reschedule its debt spurred a sell-off in crude oil, gold and equities. Overall, USD/CAD traded with a low of 1.0450 and with a high of 1.0620.Today, Current Account is expected at -12.9B vs. -11.2B prior.
CAD/USD – Last: 1.0626
|
Resistance
|
1.0641
|
1.0719
|
|
|
Support
|
1.0587
|
1.0530
|
1.0450
|
Research by http://www.ufxbank.com
Tags: Daily Forex Review, forex review
We all know that everybody hates to lose their hard earned money; all of us don’t even want to lose a singe penny. But the fact is there are people who lose quite a large amount of money in FOREX market. And unfortunately no one in this world is blessed with the great ability of foresight; otherwise people would have protected themselves from making any sort of losses. But as you all know there are no such powers so all the losses are considered to be as an unavoidable part of the forex trading process.
When ever you will be entering any specific type of a trade then you will either be right, or wrong, and there are no perfect game of forex trading! You need to play your cards yourself and that too very carefully. When an unsuccessful trader encounters a long lasting string of losses then they begin to engage themselves in patterns of trading that are self-destructive and these people feel that these patterns are going to help them in escaping the pain which they are experiencing.
You need to Bring all this to a great source of light before it affects you badly. You need to understand one thing very carefully that these self-destructive actions can help you in realizing what you are doing to yourself before it takes a hold of your physical health.
The important question that needs to be answer here is that what exactly are the destructive patterns of trading?
If you actually find yourself caught in a long lasting string of losses or in a bad performing week/ or a month then be sure to monitor your attitude as well as your behavior. It is actually during this time only that you will be at your most vulnerable state of life. You will start indulging yourself in certain sort of activities that at first seem harmless, but with its excessive use (or with each passing phase of time), they begin to cause more and more physical damage to your health.
If you feel that you are the kind of person who is involving himself or herself into such harmful activities then do ask yourself the following questions that are written below and while answering these questions be really very true to yourself.
Ask yourself that during periods of drawdown do you find yourself over-indulging in these below mentioned activities:
All kinds of Food – (especially junk and the harmful food — like chocolate, ice-cream, chips, cold drinks, cakes, pizzas etc)?
Do you Intake of high concentrations of Alcohol?
Certain harmful Drugs (includes excessive smoking or the usage of tobacco)?
High levels of Laziness (do you find it really very difficult to wake up in the morning)?
