Posted by
admin on October 15, 2010 |
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Daily Review 15/10/2010
Today’s Forex Trading review:
USD Dollar (USD)
The Dollar fell against most of the major currencies and reached a 10 month low before reports likely to fuel speculation the Federal Reserve will ease policy further to support prices, but during the day it rose again and closed around the open rate. The trade balance came out (-46.40B) worse than expected( -44.50B) and the initial jobless claim came out (462.00K) worse than expected (449.00K) .The trend is against a weak Dollar, the NASDAQ fell by (-0.24%) and Dow Jones by (-0.01%) and ,crude oil decreased by 0.5%, closing at 82.69$ a barrel, Gold (XAU) increased by 0.6% , closing at 1378.0$ an ounce. Today, the core CPI is expected at (0.10%) vs. 0.00% previously and the core retail sales is expected at (040%) vs. (0.60%) previously and the CPI is expected at (0.20%) vs. (0.30%) last time and the retail sales is expected unchanged and the Fed Chairman Bernanke Speak.
EURO (EUR)
The Euro strengthened against the Dollar and reached the higher rate since January and broke the 1.4000 resistance by more than 100 pips, The momentum of the EUR/USD is still strongly bullish as long as it is above 1.4000. Overall, EUR/USD traded with a low of 1.3980 and with a high of 1.4122. Today, the CPI is expected unchanged at 1.80% and also the Core CPI is expected unchanged at 1.00%.
EUR/USD – Last: 1.4039
| Resistance |
1.4123 |
|
|
| Support |
1.4000 |
1.3910 |
|
British Pound (GBP)
The Pound continued to rise against the Dollar after the weakened of the greenback last night and broke the strong resistance level at 1.6000 and hit the 1.6067 after 8 months. But the pair returned quickly to 1.6000. The GBP/USD on the daily chart is still facing the resistance around 1.6000, the momentum is bullish as long as the GBP/USD higher than 1.6000. Overall, GBP/USD traded at a low of 1.5932 and a high of 1.6067. Today, no economic data is expected.
GBP/USD – Last: 1.6009
| Resistance |
1.6065 |
|
|
| Support |
1.5969 |
1.5954 |
1.5928 |
Japanese Yen (JPY)
The Yen strengthened against the Dollar and sets fresh 15 years low at 80.88.as the American market continues to weaken, but later on it closed around the open rate. The momentum is still bearish as long as the USD/JPY remains below 81.75 Overall, USD/JPY traded with a low of 80.89 and with a high of 81.72. Today, BoJ Governor Shirakawa will speak at an annual meeting of Japanese credit unions at 3 p.m. in Tokyo.
USD/JPY-Last: 81.30
| Resistance |
81.34 |
81.67 |
82.35 |
| Support |
80.87 |
|
|
Canadian dollar (CAD)
The Canadian Dollar fell versus the Dollar after it reaches parity between the pair during the day. The trade balance came out (-1.40B) better than expected (-2.10B) . The momentum of the USD/CAD is still negative for the US Dollar, but the pair is facing a strong support at 1.000 levels on the daily chart. As long the USD/CAD below 1.0100 a short position is preferred. Overall, USD/CAD traded with a low of 0.9980 and with a high of 1.0074.Today, Manufacturing Sales is expected at (0.50%) vs. (-0.90%) previously.
USD/CAD – Last: 1.0049
| Resistance |
1.0070 |
1.0120 |
|
| Support |
1.000 |
0.9978 |
|
Tags: currency trading, daily forex analysis, Daily Forex Review, forex market, Forex Trading
Posted by
admin on October 14, 2010 |
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Daily Review 14/10/2010
Today’s Forex Trading review:
USD Dollar (USD)
The Dollar fell against most of the major currencies and reached a 10 month low during the night before reports were released that are likely to fuel speculation that the Federal Reserve will further ease policy to support prices. Overall, the trend supports a weak Dollar. The NASDAQ and Dow Jones advanced by 0.96% and 0.69%. Crude oil increased by 1.6%, closing at $83.01 a barrel, and Gold (XAU) increased by 1.8% to close at $1370.50 an ounce. Today, the trade balance is expected at -44.50B vs. -42.80B, previously, Initial jobless claims are expected at 449.00K vs. 445.00K previously, and the crude oil inventories are also expected to be released today.
EURO (EUR)
The Euro strengthened against the Dollar and reached the highest levels since January after the industrial production results came out 1.00% better than the expected 0.10%. The momentum of the EUR/USD is still strongly bullish, and as long as it is above 1.4000, the momentum will continue to be positive. Overall, EUR/USD traded with a low of 1.3912 and with a high of 1.4094. Today, the ECB (European Central Bank) monthly report is expected.
EUR/USD – Last: 1.4077
| Resistance |
1.4100 |
|
|
| Support |
1.4031 |
1.4001 |
1.3951 |
British Pound (GBP)
The Pound continued to rise against the Dollar after the unemployment rate came out better than expected, in addition to the Dollar continuing to weaken. The GBP/USD on the daily chart is facing resistance around 1.6000. The momentum is bullish as long as the GBP/USD is higher than 1.600. Overall, GBP/USD traded at a low of 1.5774 and a high of 1.6000. Today, no economic data is expected.
GBP/USD – Last: 1.5975
| Resistance |
1.6016 |
|
|
| Support |
1.5960 |
1.5928 |
1.5890 |
Japanese Yen (JPY)
The Yen strengthened against the Dollar, with the USD/JPY setting fresh 15 year lows at 81.20, as the American market continues to weaken. The momentum is still bearish as long as the USD/JPY remains below 81.75. Overall, USD/JPY traded with a low of 81.20 and with a high of 81.80. No economic data is expected today.
USD/JPY-Last: 81.16
| Resistance |
81.69 |
82.1 |
82.45 |
| Support |
81.07 |
|
|
Canadian dollar (CAD)
The Canadian Dollar rose versus the US Dollar to reach parity between the pair. This was last reached in April. The momentum of the USD/CAD is still strongly negative for the US Dollar, and as long as the USD/CAD is below 1.0050, a short position is preferred. Overall, USD/CAD traded with a low of 1.0000 and with a high of 1.0105. Today, the Trade balance is expected at -2.10B vs. -2.70B previously.
USD/CAD – Last: 1.0002
| Resistance |
1.0047 |
1.0067 |
1.0121 |
| Support |
.09994 |
|
|
Tags: currency trading, daily forex analysis, Daily Forex Review, forex market, Forex Trading
Posted by
admin on October 13, 2010 |
No comments
Daily Review 13/10/2010
Today’s Forex Trading review:
USD Dollar (USD)
The Dollar was down against the other major currencies as Federal Reserve policymakers agreed yesterday about purchases of Treasury securities and agreed to boost inflation expectations as ways to add stimulus. Doing so would cause the stock markets to erase losses and that would support a weaker Dollar. The NASDAQ and Dow Jones advanced by 0.65% and 0.09%. Crude oil weakened by 0.7%, closing at $81.67 a barrel, and Gold (XAU) decreased by 0.6% to close at $1346.70 an ounce. Today, Fed Chairman Bernanke Speaks.
EURO (EUR)
The Euro erased its drop and succeeded to strengthen versus the Dollar as sentiment on the U.S. dollar weakened after the Federal Reserve’s meeting. The momentum of the EUR/USD is still strongly bullish for the euro but the pair has been fluctuating around 1.3900 levels for the past four days. As long as it’s above 1.3750 levels, the momentum continues to be positive. Overall, EUR/USD traded with a low of 1.3775 and with a high of 1.3939. Today, Industrial Production is expected at 0.70% vs. 0.10% prior.
EUR/USD – Last: 1.3965
| Resistance |
1.4030 |
|
|
| Support |
1.3900 |
1.3775 |
1.3640 |
British Pound (GBP)
The Pound extended its losses against the Dollar, falling to a 5 day low after Bank of England monetary policy committee member David Miles made negative remarks about the economic forecast. The main trend of the GBP/USD on the daily chart is bullish and is still facing resistance around 1.6000. The pair has declined in the past two days and therefore, if it breaks below the 1.5780 rate, it could decline to the 1.5700 area. Overall, GBP/USD traded with a low of 1.5753 and with a high of 1.5917. Today, Claimant Count Change is expected to rise from 2.30K to 3.90K and MPC Member Sentence will speak.
GBP/USD – Last: 1.5817
| Resistance |
1.5860 |
1.5965 |
1.6020 |
| Support |
1.5750 |
|
|
Japanese Yen (JPY)
The Yen remained higher against the Dollar as minutes of the Federal meeting showed the central bank was prepared to ease monetary policy. The USD/JPY has broken the support level at 82.00 and therefore, the momentum continues to be bearish, with the 10 moving average supporting a bearish trend as well. Overall, USD/JPY traded with a low of 81.65 and with a high of 82.31. No economic data is expected today.
USD/JPY-Last: 81.80
| Resistance |
82.00 |
82.55 |
83.2 |
| Support |
81.4 |
|
|
Canadian dollar (CAD)
The Canadian Dollar rose versus the US Dollar as the Federal Open Market Committee minutes showed the central bank moved closer to further easing monetary policy and global stocks rebounded from the day’s lows. The momentum of the USD/CAD is still strongly negative for the US Dollar, and as long as the USD/CAD is below 1.0250, a short position is preferred. Overall, USD/CAD traded with a low of 1.0089 and with a high of 1.0183. No major economic data is expected today.
USD/CAD – Last: 1.0095
| Resistance |
1.0125 |
1.0185 |
1.0235 |
| Support |
1.0060 |
|
|
Tags: currency trading, daily forex analysis, Daily Forex Review, forex market, Forex Trading
