Daily Review 15/12/2009
Posted by Cedrick Toledano in Uncategorized on December 15th, 2009
USD Dollar (USD)
The Dollar weakened slightly versus the majors as the Dollar rally took a relief. NASDAQ and Dow Jones gained by 0.99% and 0.28% respectively as Dubai\’s bailout calmed investor fears. Crude weakened for the 9th straight day lowering by -0.43% closing at 69.57$ a barrel. Gold (XAU) gained by 0.54% closing at 1123.30$ an ounce. Today, PPI is expected with 0.8% versus 0.3% prior. Industrial Production is expected with 0.6% versus 0.1% prior. TIC Long Term Purchases is expected with 38.3B versus 40.7B prior.
EURO (EUR)
The Euro gained slightly versus the Dollar as Dubai World\’s bailout eased banks concerns of major write downs. Industrial Production came out as expected with -0.6%. Overall, EUR/USD traded with a low of 1.4607 and with a high of 1.4685. Today, German ZEW Economic Sentiment is expected weaker with 50.1 versus 51.1 prior.
EUR/USD – Last: 1.4655
|
Resistance |
1.4685 |
1.4775 |
1.4825 |
|
Support |
1.4585 |
1.4535 |
1.4470 |
British Pound (GBP)
The Pound gained slightly versus the Dollar but is still unable to break above or below the 1.6350 and 1.62 range. RICS House Price Balance came out weaker with 35% versus 39% forecast. Overall, GBP/USD traded with a low of 1.6188 and a high of 1.6324. Today, CPI is expected with 1.8% versus 1.5% prior.
GBP/USD – Last: 1.6300
|
Resistance |
1.6340 |
1.6380 |
1.6425 |
|
Support |
1.6250 |
1.6190 |
1.6150 |
Japanese Yen (JPY)
The Yen gained versus the Dollar and other majors after Tanken Manufacturing Index came out stronger than expected. The Yen is set to replace the Dollar in the Carry Trading as borrowing costs in Japan became almost as cheap as U.S loans. Overall, USD/JPY traded with a low of 88.32 and a high of 89.29 and EUR/JPY traded with a low of 129.18 and a high of 130.64. Today, Tertiary Industry Activity is expected with 0.5% versus -0.5% prior.
USD/JPY-Last: 88.75
|
Resistance |
89.00 |
89.25 |
89.85 |
|
Support |
88.35 |
88.00 |
87.40 |
Canadian Dollar (CAD)
The Canadian Dollar remained unchanged versus the Dollar as no major news was released and Crude prices were merely changed. Overall, USD/CAD traded with a low of 1.0484 and a high of 1.0623. Today, Leading Index is expected with 0.6% versus 0.7% prior and Labor Productivity is expected with -0.4% versus 0.0% prior.
USD/CAD – Last: 1.0580
|
Resistance |
1.0635 |
1.0670 |
1.0700 |
|
Support |
1.0550 |
1.0515 |
1.0480 |
Research by http://www.ufxbank.com
Tutorial for beginners in bungee options trading
Posted by Cedrick Toledano in Bungee Options on December 15th, 2009
The simplest form of options trading is the bungee options trading. The trading tutorials have not done their job if they have not explained about this form of options trading. This is a not so popular technique among traders. This technique is catching up with people who do not have the patience to invest money in markets that hold their money for a long time and the profit from it only after a very long time. Nowadays people are interested in getting quick results and no wonder that all the heads have turned to the bungee options market. It has become a very much happening market who do not want to invest in bonds, stocks, mutual funds and other options which promise money only after a very long time in most cases. There are various other tutorials that are available on the internet. People looking out for bungee option trading can follow this article.
The bungee options trade works on your choice. You can choose between yes or no. just as its name suggests, it has only two options just as a switch would have. The switch can be chose between the up side and the down side. The movement in stocks is either up or down in the market and hence the trader has to choose between these options.
Now let us discuss as to how the bungee trade works. The trader has to have a bungee options trading account and then the trader has to decide on picking one of the securities in order to make him eligible for trade. After he has selected the security, the next step is to decide on the amount that he is going to invest in the trade. After all these steps are completed the trader has to decide whether the value of the security will go up or go down in the course of the day. This is done by making any of these statements, the trader chooses call if he believes that the price will go up and in case he believes that it will go down then he has to go for the put option. The investor submits the order only after the verification of the contract that is generated by the trading software which is based on the deals and calls made.
The most astonishing part of this type of trading is that which is made in the transaction. The profit is determined on the direction of the profit alone and not on the value that it has reached which means that a nickel up or two hundred dollars up means the same and the same for the put option as well, it does not matter whether the security has gone down by a nickel or more than that.
GoLearn Forex Analysis 14/12/2009
Posted by Cedrick Toledano in Uncategorized on December 14th, 2009
Euro – Headed for a Tailspin? By GoLearn Forex
EUR/USD:
The EUR is perilously close to falling into a tailspin. We have been stating for some time that a candle appearing below the 50 day Moving Average (MA) would generate a strong signal for a Short entry. As you can see in the Graph below that signal occurred last week, with the 50 day MA currently holding at 1.4880 while the EUR is trading at 1.46.
The EUR is now on the cusp of an even larger fall. It closed last Friday’s session at the 100 day MA an even more significant breach than the 50 day MA. Perhaps even more troublesome for the EUR is that it is just a hairsbreadth above 61.8% Fibonacci level at a handle of 1.4621.
INSERT CHART EUR
A close below the 61.8% Fibo level coupled with a close below the 100 day MA as they converge may equal real trouble for the EUR. The EUR has not been south of the 100 day MA since April 2009 which coincidently occurred when the 100 day MA and Fibo 23.6% level converged. The EUR proceeded to advance 14.6% from that point. We therefore target the 50% Fibo level with a handle of 1.4184 as the next support level should the EUR breach the 61.8% Fibo level.
USD/CHF:
The CHF is another currency holding at a very pivotal level. With Friday’s session closing just below the 100 day MA the CHF is trying to hold its ground against the Greenback. The Swiss Franc has been one of the benefactors of Gold’s jump in value. However, as the Dollar has rallied and Gold prices have begun to fall so has the CHF.
The Franc closed above its 50 day MA for the first time since August, representing only the 3rd such close since April of 2009. This coincided with it’s last close above the 100 day MA. The Franc has another issue to contend with and that is the 23.6% Fibonacci Retrace level created from the CHF low of 1.20 back in March of 2009.
INSERT CHART CHF
If the CHF closes above the 100 day MA and the 23.6% Fibonacci level at a handle of 1.0402 is breached then we would expect the CHF to test support at the 38.2% Fibo level or 1.0701.
Bona Fide Recovery Seems in Order by GoLearn Forex
Global Equity Markets closed higher as the prospect for a bona fide recovery now seems assured. The Markets were able to shake off credit fears and focus on continued positive economic data coming out of the U.S. On Wall Street the DJIA closed up 65.67 points to 10,471.50 on better than expected Advanced Retail Sales figures.
The Greenback continued it rally as it advanced on positive economic data, breaking the 9 month long “positive equities to poor dollar” correlation, for a second time in 1 week. The DXY touched 76.725 before retreating slightly to close at 76.573. Another positive session for the Greenback and it may take out the 100 day MA.
In the commodity space both Gold and Oil were down. Gold lost 15.60 to close Friday’s session at 1,115.40 while Oil closed just below $70 a barrel for the first time since September 29th. Gold has lost nearly 9.5% since its high on December 3rd and is just a few dollars away from closing below its 50 day Moving Average.
In the Euro-zone for Monday, Employment figures will be published on Tuesday. U.S. PPI numbers will print as well as the Empire Manufacturing data. In Australia, GDP numbers will hit the wire on Wednesday, as will Housing Starts and Building Permits in the U.S. However, investors will be tuned in on Wednesday to the FOMC rate decision. Although no change in rate is expected, traders are hoping for the accompanying statement to shed light on future rate hikes and economic policy as continued positive economic data continues to print.
Upcoming Forex Events for December 14, 2009-12-14
CHF PPI (MoM) Forecast 0.20% Previous -0.40%
EUR Industrial Production (MoM) Forecast -0.50% Previous 0.30%
CAD Capacity Utilization Rate Forecast 67.80% Previous 67.40%
AUD RBA Meeting Minutes
Analysis by http://www.golearnforex.net
Have a look on the Binary Options Trading
Posted by Cedrick Toledano in Binary Options on December 14th, 2009
An option trading tutorial would be regarded as incomplete if it does not specify a simplest form of trade known as the binary trading options. A number of traders are unaware of this kind of investment in forex trading; however it is a very profitable market presently, especially for those who do not wish to get stuck with the long term investment options like bonds, funds, stocks, futures or traditional option agreement.
The binary trading options are as its name suggests, bipolar. You can indeed select the down side or the upside of the trade. You may feel that it same like a 2-sided preference like true or false, heads or tails, etc. however, here in terms of forex the binary options refer to the down movements or the up movements in a currency or a stock.
Now let see the working of a binary option. A trader with binary trading options selects any one of the accessible security for trading. It’s upon him how much he wills to invest. Once he determines the sum that he would like to invest, he has to select the direction in which the security would go. The payouts are generally computed by the trading software and if it is found satisfactory with the agreement, the trader would submit that order.
Another interesting part of such kind of a dealing is that it has no difference with how much is the movement of the stocks. Only thing important here is the direction. The payouts by the end of an agreement are something similar even if the security may be of 20 dollars. If you make a binary option agreement for 70% payout on the upward movements of a security, say on hundred dollars of investment. The stock rises up with at least one cent at the options expiry then the trader here will get one hundred and seventy five dollars. These are options are expire hourly, and therefore the successful investors can implement a number of contracts per day.
Hence in conclusion one can say that these binary trading options have agreements with fixed expiry date i.e. every hour. They cannot be sold in advance, even if it is easier to make other agreement with the similar expiry dates. Such kinds of trades need the trader to select the amount to be invested, their direction as well as security.
This is a brief introduction of the binary options trading. There is also other option trading tutorial present which will demo the way of starting the trade in binary options with a handful sum of about hundred dollars only providing links to demo videos and other tutorials. So, let us start trading in binary options as soon as possible to make a history in forex trading. So easy and so simple to use, though associated with large profit potentials.
Daily Review 14/12/2009
Posted by Cedrick Toledano in Uncategorized on December 14th, 2009
USD Dollar (USD)
The Dollar continued rallying versus most majors on Friday after Retail Sales and Michigan\’s Consumer Sentiment came out stronger than expected signaling economy is recovering improving Fed Rate Outlook. NASDAQ ended almost flat with -0.03% change and Dow Jones gained by 0.63%. Crude weakened by -1.39% dropping below 70$ for the first time since October closing at 69.87$ a barrel and Gold (XAU) dropped by -0.91% closing at 1114.55$ an ounce on a stronger Dollar. No economic data expected today.
EURO (EUR)
The Euro continued falling versus the Dollar reaching a 2 month low below the 1.46 support level as better economic data in the US led investors to expect a near rate increase. Ireland and Greece are facing major debt concerns that may lead to their exit from the Euro-Zone. Overall, EUR/USD traded with a low of 1.4586 and with a high of 1.4776. Today, Industrial Production is expected with -0.6% versus 0.3% prior.
EUR/USD – Last: 1.4620
|
Resistance |
1.4700 |
1.4775 |
1.4825 |
|
Support |
1.4585 |
1.4535 |
1.4470 |
British Pound (GBP)
The Pound dropped slightly versus the Dollar after PPI Input and Output came out weaker than the forecast. The UK budget deficit keeps growing as the government keeps spending money to spur the economy preventing the Pound from gaining back. Overall, GBP/USD traded with a low of 1.6196 and a high of 1.6338. Today, RICS House Price Balance is expected with 39% versus 34% prior.
GBP/USD – Last: 1.6200
|
Resistance |
1.6275 |
1.6340 |
1.6380 |
|
Support |
1.6160 |
1.6120 |
|
Japanese Yen (JPY)
The Yen weakened versus the Dollar and the Euro as economic conditions improve and a future rate increase in the U.S seems more likely. Overall, USD/JPY traded with a low of 88.26 and a high of 89.81 and EUR/JPY traded with a low of 129.97 and a high of 131.59. No economic data expected today.
USD/JPY-Last: 88.40
|
Resistance |
89.30 |
89.85 |
90.10 |
|
Support |
88.25 |
88.00 |
87.75 |
Canadian Dollar (CAD)
The Canadian Dollar weakened versus the Dollar as Crude dropped beneath 70$ a barrel on stronger Dollar sending the high yield commodity related Australian and Canadian Dollar lower. Overall, USD/CAD traded with a low of 1.0484 and a high of 1.0623. No major economic data expected today.
USD/CAD – Last: 1.0610
|
Resistance |
1.0630 |
1.0650 |
1.0690 |
|
Support |
1.0540 |
1.0500 |
1.0480 |
Some facts about Binary Options
Posted by Cedrick Toledano in Binary Options on December 11th, 2009
This particular article is going to provide you with a general idea about various binary options of trading, which are frequently known as the “digitals” for all their on-off kind of payments. But the actual focus lies up on the behavior of real world in bringing about a movement in the trading markets, rather than the theoretical behavior or the mathematical explanations.
Now every other trader has a basic question in his or her mind and that is about the various types of Components of all the Binary Options of trading.
In similarity to the trading option of standard vanilla American or European style of trading option, all binary options are described in the terms of a strike price (which is said to be the threshold payout), a fixed and a final date of maturity, and a reference unit that is being underlined, various types of commodity which are associated with these binary options, all the instruments that are being used or the price of security (that is also being underlined). Binaries are the ones which are sold out in the exchange for a specific premium payment that deals with up front, just like all the other type of trading options. Both the options of FOREX trading that means the options of call and put are available.
The next frequently asked question is “what is the basic level of Comparison between a Binary option and a Standard Vanilla Option”?
Considering the dynamics that is being shown by price as a detached subject of learning, the only basic level of difference between a binary option and a standard option is its difference on the profile of making a payout. A binary option is the only type of trading option that pays out all its traders a specific and a fixed amount, while a standard type of vanilla option is the one that pays out a variable amount which is being unlimited in its potentials. Both the type of trading options can reach their date of expiry without even having any worth [that means they are being worthless] and they are considered as the option of trading which are “out of the money.” If the instrument that is being underlined shifts in the direction of option which is “in the money”, then a binary is bound to pay a fixed amount of money, it can be any specific amount, may be 10 dollar or may be 15 dollar, on the other hand, a vanilla option of trading is the one that will be making a pay from anywhere around $0 to infinity, depending up on the fact that what exactly is the number of the underlined instrument which are able to clears the strike price. These options are an important source of earning profits.
Daily Review 11/12/2009
Posted by Cedrick Toledano in Uncategorized on December 11th, 2009
USD Dollar (USD)
The Dollar traded with a narrow range versus most majors as mixed data was released in the US. The initial Jobless claims rose by 17K coming at 474K but the trade balance deficit in the U.S. unexpectedly narrowed in October to -32.9B as rebounding economies overseas and a weaker dollar pushed exports up for a sixth consecutive month. NASDAQ and Dow Jones rose by 0.33% and 0.67% respectively, following the trade balance. Crude oil decreased by 0.2% closing at 70.54$ a barrel. The oil traded the first time this month below 70$. Gold (XAU) rose by 0.5% closing at 1125.7$ an ounce. Today, Retail Sales is expected at 0.6% vs. 1.4% previously and Michigan Consumer Sentiment is expected at 69.1 vs. 67.4.
EURO (EUR)
The Euro rose slightly versus the Dollar after European Central Bank President Jean- Claude Trichet said he will withdraw stimulus measures in a faster pace than economists anticipated, clearing the way for higher interest rate next year. Overall, EUR/USD traded with a low of 1.4682 and with a high of 1.4760. Today, ECB President Trichet Speaks.
EUR/USD – Last: 1.4725
|
Resistance |
1.4760 |
1.4866 |
1.4900 |
|
Support |
1.4675 |
|
|
British Pound (GBP)
The Pound stayed almost unchanged versus the Dollar and the Euro after The Bank of England stuck to its plan to buy as much as 200 billion pounds in bonds and held the interest rate at a record low of 0.5%. Overall, GBP/USD traded with a low of 1.6213 and with a high of 1.6346. Today, PPI Input is expected at 0.6% vs. 2.6% prior.
GBP/USD – Last: 1.6312
|
Resistance |
1.6346 |
1.6472 |
1.6660 |
|
Support |
1.6230 |
1.6167 |
|
Japanese Yen (JPY)
The Yen declined against the Dollar and Euro, as U.S. continuing claims for unemployment benefits fell to a nine-month low, encouraging demand for higher-yielding assets. Overall, USD/JPY traded with a low of 87.73 and with a high of 88.45.No important data is expected today.
USD/JPY-Last: 88.70
|
Resistance |
89.17 |
89.60 |
|
|
Support |
87.72 |
87.36 |
|
Canadian dollar (CAD)
The Canadian Dollar strengthened for a second day versus the Dollar, touching the strongest level this week as stocks gained and the nation unexpectedly posted a trade surplus. Trade Balance came out better than expected at 0.4B vs. -0.6B forecast. Overall, USD/CAD traded with a low of 1.0478 and with a high of 1.0582. Today, NHPI the previous data came out at 0.5%.
CAD/USD – Last: 1.0512
|
Resistance |
1.0550 |
1.0590 |
1.0648 |
|
Support |
1.0482 |
1.0433 |
|
Research by http://www.ufxbank.com
GoLearn Forex Analysis 10/12/2009
Posted by Cedrick Toledano in Uncategorized on December 10th, 2009
he Gold & CHF Correlation by GoLearn Forex
USD/CHF:
The Swiss Franc has a positive correlation to Gold. Thus, as Gold appreciates so does the CHF and vice versa. When the Gold rush of 2009 began the CHF participated in the precious metal’s appreciation. However, the correlation broke down as Gold broke its all time high. In the below Chart the CHF hesitated as it broached Dollar parity while Gold enjoyed near new daily highs. We would have expected the CHF to enjoy new highs, in line with Gold, once breaking parity with the Greenback but that did not transpire.
INSERT CHART CORR
The CHF like most of the G-10 is currently holding at very volatile handles. During the Dollar’s initial rally the Franc closed just above the 50 day MA and has since surpassed it. Currently the CHF has breached S1 at 1.0278. In the Chart below we have drawn a Fibonacci Retrace from the CHF low on April 20th, then trading at 1.17. We used the CHF high on November 26th, with a handle at .9918 to complete the Fibonacci range.
INSERT CHART CHF
The Fibonacci Retrace puts the 23.6% retrace level at 1.0350. The 100 day MA is also converging on the same level. If the Swiss Franc takes out the FIBO 23.6% level and closes below the 100 day MA this would trigger an additional short CHF entry. A close below the 50 day MA at 1.0163 would generate a long CHF entry.
There are a number of moving parts to watch when trading this pair. Gold has been hit hard during this Dollar rally and most analysts felt a retrace was imminent given the metal’s stellar rise. However, most analysts also forecast Gold to retain most if it’s appreciation given the high level of demand. This view may shield the Franc from massive depreciation. However, if the CHF takes out the 100 day MA prior to Gold firming then we would expect to see significant price action.
Commodities in a Slump by GoLearn Forex
It was a mixed day on Wall Street following a continued selloff in the Asian and London sessions. The DJIA closed the day at 10,337.05 up 51.08 points. It saw modest gains as analysts upgraded their ratings on 3M and Sprint Nextel.
The Greenback gave up some gains from its 3 day rally as the DXY closed down slightly to 76.038, but still above the 50 day MA. The big winner on the day was the Kiwi, as it advanced 1.81%. The RBZ held rates at 2.5% but improved their forecasts to include a possible rate hike in mid 2010. Additionally, Governor Bollard added the Bank’s expectation now looks for a significant rise in GDP.
Commodities continued their slump as Oil closed the session down 1.75 to 70.87. Corn, Wheat, and Soybeans sold off as the dollar held firm most of the day. Gold finished the day essentially unchanged to close at 1,128.60
Thursday will see a lot of price action as Unemployment figures is Australia print. Consensus expectations are looking for a modest rise to 5.9%. Obviously a print above or below will advance or plummet the AUD as the market looks for direction in this Dollar rally. The SNB will make its Interest Rate decision, although widely expected to keep rates on hold. Traders will focus their attention to accompanying language from the Central Bank. In the U.K the BOE will announce their interest rate decision and although they are expected to keep rates on hold at .5% it will be the Central Banks accompanying statements that have the chance to stir the market. Lastly, in the U.S, Trade Balance figures will print as will Jobless Claims. Traders will be watching carefully to see where Jobless Claims print as they seek to confirm last week’s NFP numbers. A significantly higher print may put an end to the Greenbacks rally while a better than expected print will affirm the Dollars new levels.
Upcoming Forex Events December 10, 2009
CHF Interest Rate Decision Forecast 0.25% Previous 0.25%
GBP Interest Rate Decision Forecast 0.50% Previous 0.50%
CAD Trade Balance Forecast -0.50B Previous -0.90B
USD Trade Balance Forecast -36.50B Previous -36.50B
Analysis by http://www.golearnforex.net
The meaning of currency bungee
Posted by Cedrick Toledano in Bungee Options on December 10th, 2009
A buyer has only the right to buy or sell and does not have the obligation to sell or buy under the Options trading. This is called as the call option or the put option respectively. The buyer has the obligation to sell or buy until a specified date and at a specified price, the underlying stocks or contracts in future. The options trading can be referred to tradable insurance contracts. The investor has the option of purchasing for himself a put option which acts as the insurance for the falling stock prices. The call option can be purchased by the investor when a rise in the prices of stocks is seen. It has been in practice for quite a long period in different forms.
A contract which gives the holder of the contract the right to sell or buy currency without obligating the investor to buy or sell at a given point of time at a particular value of the currency is known as Currency Bungee. In order to acquire this right, the investor pays a premium to the broker. The premium paid to the broker varies according to the number of contracts that is purchased by the investor. The currency option is a good way to escape inevitable movements that might incur loss to the investor during swap over rates.
The currency bungee gives an all-or-nothing payoff to the investor depending on the given currency exchange rate when the expiration date is reached by the position. In customary options, there is an up-and-down profit amount whereas binaries have a moderated single payoff amount. The binaries can be used in order to bet on the direction of an exchange rate that has the possibility of moving. It can also be used to hedge the assets for downside protection which is held for a particular currency.
The consensus ‘odds’ which may hit exchange rates that will reach expiration is represented by the going premium of currency bungee. The exact prediction and betting allows the trader or investor to sell currency bungee options. It is done by predicting falling exchange rates and the payoff option has to be reversed. Very few currency exchanges are available with currency binaries as it is a very young trading strategy.
The currency bungee is a very young form of trading strategy and hence exchange of all currency is not made available. Very few pairs make it to the market which is mainly due to their highly liquid forex conditions in the market. The pairs are EUR/USD, USD/YEN and GBP/USD.
Let us consider this example, if a trader bets that the exchange rate of EUR/USD will be 1.30 on the expiration date while the current value is 1.25, the trader or investor receives the payoff amount if the value is 1.30 or anything more than that on the expiration date. If it is lesser then the trader receives nothing.
Daily Review 10/12/2009
Posted by Cedrick Toledano in Uncategorized on December 10th, 2009
USD Dollar (USD)
The Dollar was mixed versus the majors after Inventories at U.S. wholesalers rose in October for the first time in more than a year, signaling companies are picking up the pace of orders as the economy shows signs of improvement. NASDAQ and Dow Jones strengthened by 0.5% respectively. Crude Oil fell by 2.7% after the report showed that Crude inventories fell by 3.8 million barrels and Crude price closed at 70.64$ a barrel after oil inventories showed a rise. Gold(XAU) fell by 2% closing at 1120.4$ an ounce. Today, Trade Balance is expected at -36.9B vs. -36.5B prior. Unemployment Claims is expected to rise from 457K to 463K. Federal Budget Balance is expected at -136B vs. -176.4B prior.
EURO (EUR)
The Euro gained slightly versus the Dollar after U.S. stocks rose modestly, reviving demand for higher-yielding assets. Overall, EUR/USD traded with a low of 1.4668 and with a high of 1.4782. Today, ECB Monthly Bulletin will be released and ECB President Trichet will speak at the University of Cambridge.
EUR/USD – Last: 1.4703
|
Resistance |
1.4782 |
1.49 |
1.5090 |
|
Support |
1.4675 |
1.46 |
|
British Pound (GBP)
The Pound decreased versus the Dollar and Euro as the U.K.’s Treasury is expected to raise 550 million pounds targeting payouts at banks in the next few months and another 3 billion pounds from incomes earned after April 2011. Overall, GBP/USD traded with a low of 1.6167 and with a high of 1.6375. Today, MPC Rate Statement is expected to leave the Interest Rate unchanged at 0.5%. Asset Purchase Facility is expected to stay unchanged at 200B in case it will be higher the Pound is expected to drop.
GBP/USD – Last: 1.6254
|
Resistance |
1.6350 |
1.6515 |
1.6670 |
|
Support |
1.6165 |
1.61 |
|
Japanese Yen (JPY)
The Yen continued to strengthen versus the Dollar after Japanese stocks fell the most in 8 days. Core Machinery Orders came out as expected with -4.5%. Overall USD/JPY traded with a low of 87.36 and with a high of 88.7. No economic data expected today.
USD/JPY-Last: 87.86
|
Resistance |
88.5 |
89.2 |
90.1 |
|
Support |
87.35 |
87 |
86.6 |
Canadian dollar (CAD)
The Canadian Dollar strengthened against the Dollar amid speculation that yesterday’s decline to the lowest level in almost two weeks went too far. Overall, USD/CAD traded with a low of 1.0514 and with a high of 1.0661. Today, Trade Balance is expected at -0.6B vs. -0.9B prior.
CAD/USD – Last: 1.0568
|
Resistance |
1.0590 |
1.0650 |
1.0670 |
|
Support |
1.0533 |
1.0485 |
1.0433 |
Research by http://www.ufxbank.com