onsdag 28 augusti 2019
fredag 19 augusti 2011
What is Forex Trading - Forex for Beginners
What is Forex Trading?
The foreign exchange (Forex) market is a nonstop cash market where currencies of nations are traded, typically via brokers. Foreign currencies are constantly and simultaneously bought and sold across local and global markets and traders' investments increase or decrease in value based upon currency movements. Foreign exchange market conditions can change at any time in response to real-time events. The market is bigger then eu casino market!The main incentive of currency dealing to private investors and the attractions of short-term Forex trading are: 24-hour trading, 5 days a week, with nonstop access to global Forex dealers.
Further incentives to Forex trading:
- An enormous liquid market making it easy to trade most currencies.
- Volatile markets offering profit opportunities.
- Standard Forex instruments for controlling risk exposure.
- The ability to profit in rising or falling markets.
- Leveraged trading with low margin requirements.
- Many options for zero commission trading.
Forex trading
When trading currencies, trade only when you expect the currency you are buying to increase in value relative to the currency you are selling. If the currency you are buying does increase in value, you must sell back the other currency in order to lock in a profit. An open trade (also called an open position) is a trade in which a trader has bought or sold a particular currency pair and has not yet sold or bought back the equivalent amount to close the position.
However, it is estimated that anywhere from 70%-90% of the FX market is speculative. In other words, the person or institution that bought or sold the currency has no plan to actually take delivery of the currency in the end; rather, they were solely speculating on the movement of that particular currency.
Exchange rate
Because currencies are traded in pairs and exchanged one against the other when traded, the rate at which they are exchanged is called the exchange rate. The majority of the currencies are traded against the US dollar (USD). The four next-most traded currencies are the euro (EUR), the Japanese yen (JPY), the British pound sterling (GBP) and the Swiss franc (CHF). These five currencies make up the majority of the market and are called the major currencies or "the Majors". Some sources also include the Australian dollar (AUD) within the group of major currencies.The first currency in the exchange pair is referred to as the base currency and the second currency as the counter or quote currency. The counter or quote currency is thus the numerator in the ratio, and the base currency is the denominator. The value of the base currency (denominator) is always 1. Therefore, the exchange rate tells a buyer how much of the counter or quote currency must be paid to obtain one unit of the base currency. The exchange rate also tells a seller how much is received in the counter or quote currency when selling one unit of the base currency. For example, an exchange rate for EUR/USD of 1.2083 specifies to the buyer of euros that 1.2083 USD must be paid to obtain 1 euro.
At any given point, time and place, if an investor buys any currency and immediately sells it - and no change in the exchange rate has occurred - the investor will lose money. The reason for this is that the bid price, which represents how much will be received in the counter or quote currency when selling one unit of the base currency, is always lower than the ask price, which represents how much must be paid in the counter or quote currency when buying one unit of the base currency. For example, the EUR/USD bid/ask currency rates at your bank may be 1.2015/1.3015, representing a spread of 1000 pips (also called points, one pip = 0.0001), which is very high in comparison to the bid/ask currency rates that online Forex investors commonly encounter, such as 1.2015/1.2020, with a spread of 5 pips. In general, smaller spreads are better for Forex investors since even they require a smaller movement in exchange rates in order to profit from a trade.
Most Forex dealers, including Easy Forex, are compensated by the spreads that are embedded in the currency rates.
Margin – Amount to Risk
Margin enables private investors to trade in markets that have high minimum units of trading by allowing traders to hold a much larger position than their account value. Margin trading also enhances the rate of profit, but has the tendency to inflate rates of loss, on top of systemic risk.
Leveraged financing
Leveraged financing, i.e., the use of credit, such as a trade purchased on a margin, is very common in Forex. The loan/leveraged in the margined account is collateralized by your initial deposit. This may result in being able to control USD 100,000 for as little as USD 1,000. A relatively small market movement will have a proportionately larger impact on the funds you have deposited or may have to deposit. This may work against you as well as for you. You may sustain a total loss of the margin funds deposited and any additional funds deposited to maintain your positions.
Five ways private investors can trade in Forex directly or indirectly:
- The spot market
- Forwards and futures
- Options
- Contracts for difference
- Spread betting
A spot transaction
A spot transaction is a straightforward exchange of one currency for another. The spot rate is the current market price, also called the benchmark price. Spot transactions do not require immediate settlement, or payment "on the spot." The settlement date, or "value date," is the second business day after the "deal date" (or "trade date") on which the transaction is agreed to by the two traders. The two-day period provides time to confirm the agreement and arrange the clearing and necessary debiting and crediting of bank accounts in various international locations.
Risks
Forex trading is risky. There are ways to reduce risk such as setting a Stop Loss on deals. Read more about the risks involved and how to lower exposure to risk.source: easy-forex
fredag 29 juli 2011
Stocks Continue Downside Track
Stocks Continue Downside Track
U.S. Dollar Trading (US) risk remained off overnight as the market waited for news regarding the US debt ceiling negotiations which have stalled. US data was strong with June Pending Home Sales rising +2% vs. -2% forecast. Weekly Jobless claims fell below the psychological level of 398k vs. 418k previously. In US stocks, DJIA -62 points closing at 12240, S&P -4 points closing at 1300 and NASDAQ +1 points closing at 2766. Looking ahead, Q2 GDP forecast at 0.1% vs. 0.0% previously. July Michigan Consumer Confidence forecast at 64 vs. 63.8.
The Euro (EUR) concerns about the EU debt crisis continue to remain close to the surface with concern overnight after weak Italy bonds. German Unemployment fell 11k in July vs. -13k previously. The major found support under 1.4300. The EUR/USD traded with a low of 1.4253 and a high of 1.4401 before closing the day around 1.4320 in the New York session. Looking ahead, July Inflation forecast at 2.7%.June German Retail Sales forecast at 1.6% vs. -2.8%.
The Japanese Yen (JPY) failed to regain Y78 even with some moderate USD strength and ended near lows with crosses dragging the major lower. EUR/JPY tracked towards Y110 the low from the recent Greece crisis. Overall the USD/JPY traded with a low of 77.61 and a high of 78.04 before closing the day around 77.70 in the New York session. UPDATE June CPI at 0.4% y/y.
The Sterling (GBP) outperformed most other risk currencies finding support under 1.6300 and EUR/GBP falling to 0.8750. CBI Realized Sales at -5 vs. 0 forecast UK economy struggling to gain traction. Overall the GBP/USD traded with a low of 1.6292 and a high of 1.6385 before closing the day at 1.6330 in the New York session. Looking ahead, June Nationwide House Prices forecast at 0.2% vs. 0.0% previously.
The Australian Dollar (AUD) failed to maintain strength as the risk aversion overwhelmed and pushed the Aussie back from fresh record highs to test 1.1000. The New Zealand Dollar has similar movements trading at record highs after the RBNZ rate meeting came out with hawkish comments that brought forward interest rate hike expectations. Overall the AUD/USD traded with a low of 1.0974 and a high of 1.1077 before closing the day at 1.1010 in the New York session.
Oil & Gold (XAU) Dipped but was well support and finished at opening levels. Overall trading with a low of USD$1602 and high of USD $1620 before ending the New York session at USD$1616 an ounce. Oil was Stable closing at opening levels. WTI Oil Closed +$0.04 at $97.44 a barrel.
TECHNICAL COMMENTARY
Currency | Sup 2 | Sup 1 | Spot | Res 1 | Res 2 |
EUR/USD | 1.4134 | 1.4187 | 1.4315 | 1.4578 | 1.4653 |
USD/JPY | 76.61 | 77.39 | 77.60 | 78.02 | 79.32 |
GBP/USD | 1.6121 | 1.6262 | 1.6340 | 1.6473 | 1.6547 |
AUD/USD | 1.0796 | 1.0944 | 1.0975 | 1.1198 | 1.1464 |
XAU/USD | 1584.00 | 1599 | 1618 | 1628 | 1632 |
OIL/USD | 95.00 | 97.00 | 97.15 | 98.00 | 100.00 |
Euro – 1.4315
Initial support at 1.4187 (50% retrace of 1.3837-1.4536) followed by 1.4134 (Jul 20 low). Initial resistance is now located at 1.4578 (Jul 4 high) followed by 1.4653 (Jul 5 high)
Yen – 77.60
Initial support is located at 77.39 (81.48 minus 1.618 of 82.23-79.70) followed by 76.61 (79.60 minus 81.48-78.47). Initial resistance is now at 78.02 (Jun 27 high) followed by 79.32 (Jul 20 high).
Pound – 1.6340
Initial support at 1.6262 (Jul 25 low) followed by 1.6121 (Jul 20 low). Initial resistance is now at 1.6473 (Jun 7 high) followed by 1.6547 (May 31 high).
Australian Dollar – 1.0975
Initial support at 1.0944 (Jul 27 low) followed by the 1.0796 (Jun 25 low). Initial resistance is now at 1.1198 (1.0391 plus 0.618 of 0.9706-1.1012) followed by 1.1464 (0.8067 plus 0.9406-0.6009).
Gold – 1618
Initial support at 1599 (Jul 25 low) followed by 184 (Jul 22 low). Initial resistance is now at 1628 (1462.45 plus 0.618 of 1308.25-1577.57) followed by 1632 (1608.10 plus 0.618 of 1624.07-1584.23).
Oil – 97.15
Initial support at 97.00 (Intraday Support) followed by 95.00 (Intraday Support). Initial resistance is now at 98.00 (Intraday resistance) followed by 100.00 (Intraday Resistance).
Written by Anthony Darvall easy forex.com
onsdag 27 juli 2011
Valutahandel
Fördelar med valutahandel
1. Global marknad - öppen dygnet runt
Eftersom valuta marknaden är global, är handeln kontinuerligt så länge det finns en marknad öppen någonstans i världen. Handeln inleds när marknaderna öppnas i Australien på söndag kväll, och slutar efter marknader nära i New York på fredag.
2. Hög likviditet
Likviditeten är förmågan hos en tillgång som skall omvandlas till kontanter snabbt. Detta innebär att man kan flytta stora mängder pengar till och från utländsk valuta med minimal prisrörelse.
3. Låga transaktionskostnader
I trading är vanligtvis kostnaden för en transaktion inbyggd i priset. Det kallas spridningen. Spridningen är skillnaden mellan köp och säljkurs.
4. Leverage - Hävstångseffekt
Valutamäklare handlar på marknaden med hjälp av hävstång. Hävstång är förmågan att handla med mer pengar på marknaden än vad som faktiskt finns på mäklarens konto. Om du handlar med 50:1 hävstång, kan du handla $50 på marknaden för varje $1 som du har i ditt konto. Detta innebär att du kan kontrollera en handel på $50,000 med bara $1000 av kapitalet.
5. Vinstpotential från stigande och fallande priser.
Valutamarknaden har inga restriktioner för riktad handel. Detta innebär att om du tror att ett valutapar kommer att öka i värde kan du köpa den och om du tror att det kan minska i värde kan du sälja den.
Eftersom valuta marknaden är global, är handeln kontinuerligt så länge det finns en marknad öppen någonstans i världen. Handeln inleds när marknaderna öppnas i Australien på söndag kväll, och slutar efter marknader nära i New York på fredag.
2. Hög likviditet
Likviditeten är förmågan hos en tillgång som skall omvandlas till kontanter snabbt. Detta innebär att man kan flytta stora mängder pengar till och från utländsk valuta med minimal prisrörelse.
3. Låga transaktionskostnader
I trading är vanligtvis kostnaden för en transaktion inbyggd i priset. Det kallas spridningen. Spridningen är skillnaden mellan köp och säljkurs.
4. Leverage - Hävstångseffekt
Valutamäklare handlar på marknaden med hjälp av hävstång. Hävstång är förmågan att handla med mer pengar på marknaden än vad som faktiskt finns på mäklarens konto. Om du handlar med 50:1 hävstång, kan du handla $50 på marknaden för varje $1 som du har i ditt konto. Detta innebär att du kan kontrollera en handel på $50,000 med bara $1000 av kapitalet.
5. Vinstpotential från stigande och fallande priser.
Valutamarknaden har inga restriktioner för riktad handel. Detta innebär att om du tror att ett valutapar kommer att öka i värde kan du köpa den och om du tror att det kan minska i värde kan du sälja den.
fredag 22 juli 2011
Gold Trading
Gold trading with Forex.
Online trading in gold is straight forward with Forex. In the Forex market, gold is considered the form of money, and so is silver. Online gold trading is electronic, as well as other currencies and oil. Gold sold in the same way as the other currency pairs.
But there is a difference: gold, silver and other goods can only be traded against the U.S. Dollar (USD). Prices are always expressed in U.S. dollars.
Trading with gold rates
As exchange rates, go online trade in gold prices did not need the “physical” purchase or sale of real hardware. You do not buy gold, you can keep.
The gold trading method known as “over the counter” or OTC. counter offers are not part of the population of any country and that the offers are not controlled by the same methods as the stock market. counter trading is done directly between the seller and buyer. There are no other persons or organizations involved.
OTC trading is the common form of trading on the Forex market.
Day trading with gold
The operators can make a day trading in gold. means a day trading refers generally completed before the close of business that day. gold dealers usually maintain their position for only a short time, but it is not necessary to complete the transaction during the day. The agreement may be extended for two or three days, depending on how the operator decides to do the trick.
Once a gold day-trading deal is opened, it can only close in one of three ways:
The trader ends the deal
The deal reaches its stop/loss limit
The date decided for ending is reached
Until one of these three things happen, the deal continues. When a day of trading in gold is open, it will be renewed automatically every night at 22:00 GMT and is repeated every time a small charge is made to your trading account.
The benefits of online gold trade
Online products trade has become much more a business initiative with interesting quotes from real products and services while living allowance. Internet technology has made the kind of commodity trading services previously reserved for the professional trader deep pockets available to everyone.
Gold prices trading
In general, when the price of gold rises, the price drop on the U.S. dollar. That’s why investors use gold trading as a way to balance losses and profits relative to U.S. dollar. Furthermore, as gold tends to maintain its purchasing power over time, investors can buy gold to offset the effects of inflation and currency adjustments.
The price of gold measured by its weight. Price shows how much it costs, and an ounce of gold in U.S. dollars.
Gold investment can mean investing in gold bars, gold coins, and even gold jewelry. Many different sorts of gold accounts are available in the investment world.
Another way a gold trader can invest is to sell gold when they believe that gold trading prices will go down. They can sell gold in some markets (like in the Forex market), without “having” the gold, and buy it back later-on. If they are right, they would make a profit.
Other investors think that it is better to buy gold even when the price of gold is going down. They believe that the price will rise again later on, and then they will make bigger profit when it does rise.
As an investment, gold has different properties from other investments. Gold investor interest in the gold market is traditionally strong which makes liquidity in the market high compared to some other forms of trading. High liquidity means that there is a better chance of finding a buyer when you want to sell, and finding a seller when you want to buy.
In the gold trading market, people can invest in coins and bars, jewelry, futures and options, exchange traded funds, even gold certificates. Gold can be traded more quickly and at more narrow spreads than many other currencies and commodities.
Market conditions change but, in the long term, gold keeps its purchasing power. Its value, in terms of the real goods and services that it can buy, has remained firm. The purchasing power of many currencies has generally decreased because of the impact of rising prices for commodities and services.
As a result, some investors buy gold to balance the effects of inflation and currency value changes. In Forex trading, buying and selling gold is usually done by investors not for the long run, but rather for speculation reasons. In the Forex market one can buy gold (XAU) and sell it after a few hours, trying to profit from the small fluctuations (moves) in the gold price.
In the Forex market, gold is a form of currency. They can be traded in the same way as other currencies. However there is a difference: gold can only be traded against United States dollars (USD).
The internationally accepted code for gold is XAU. The code is built from X in Forex and the chemical sign for gold (AU).
For example, if the gold price is 612.97, it means that an ounce of gold is traded for 612.97USD.
Like foreign currency rates, trading with gold rates does not require the “physical” purchase or sale of the real material. Using the example above, if you buy Forex gold for the price of 612.97USD, you do not have an ounce of gold that you can hold, but you rather have the obligation to buy XAU at $612.97. When you close your Forex deal, you sell the XAU (gold) and close your obligation. If you sell it for the price of $615.00, you have made profit of $3.03 for every ounce (unit) of gold in your contract.
In the Forex market, gold is neutral – that means that gold is not related to any one country, so the rising price influences trades in several currencies. Gold prices can rise when the political or economic situation in United States is changing. If the gold price starts to increase, you might expect it to go higher in the next periods of trading. With this expectation, traders might decide to sell US dollars and buy euros because they believe US dollars will fall in value and euros will increase.
Gold prices are an important driver of the foreign exchange market.
source: easy forex
Online trading in gold is straight forward with Forex. In the Forex market, gold is considered the form of money, and so is silver. Online gold trading is electronic, as well as other currencies and oil. Gold sold in the same way as the other currency pairs.
But there is a difference: gold, silver and other goods can only be traded against the U.S. Dollar (USD). Prices are always expressed in U.S. dollars.
Trading with gold rates
As exchange rates, go online trade in gold prices did not need the “physical” purchase or sale of real hardware. You do not buy gold, you can keep.
The gold trading method known as “over the counter” or OTC. counter offers are not part of the population of any country and that the offers are not controlled by the same methods as the stock market. counter trading is done directly between the seller and buyer. There are no other persons or organizations involved.
OTC trading is the common form of trading on the Forex market.
Day trading with gold
The operators can make a day trading in gold. means a day trading refers generally completed before the close of business that day. gold dealers usually maintain their position for only a short time, but it is not necessary to complete the transaction during the day. The agreement may be extended for two or three days, depending on how the operator decides to do the trick.
Once a gold day-trading deal is opened, it can only close in one of three ways:
The trader ends the deal
The deal reaches its stop/loss limit
The date decided for ending is reached
Until one of these three things happen, the deal continues. When a day of trading in gold is open, it will be renewed automatically every night at 22:00 GMT and is repeated every time a small charge is made to your trading account.
The benefits of online gold trade
Online products trade has become much more a business initiative with interesting quotes from real products and services while living allowance. Internet technology has made the kind of commodity trading services previously reserved for the professional trader deep pockets available to everyone.
Gold prices trading
In general, when the price of gold rises, the price drop on the U.S. dollar. That’s why investors use gold trading as a way to balance losses and profits relative to U.S. dollar. Furthermore, as gold tends to maintain its purchasing power over time, investors can buy gold to offset the effects of inflation and currency adjustments.
The price of gold measured by its weight. Price shows how much it costs, and an ounce of gold in U.S. dollars.
Gold Investments
Gold has been used for investments for a very long time. It has a high value and is an independent resource. It is not subject to individual countries or trading markets. It is not connected to companies or governments. For these reasons, gold investment in gold can usually help an investor to avoid some problems that can happen in the economic environment.Gold investment can mean investing in gold bars, gold coins, and even gold jewelry. Many different sorts of gold accounts are available in the investment world.
Gold markets
The gold market is a worldwide market. London and New York are the two biggest market places for gold in the world. Gold markets operate like other investment markets, similar to the stock exchange. Buying and selling happens every day with gold prices influenced by economic conditions within the markets.
Gold trading price
Like any other market resource, the price of gold is decided by supply and demand. Gold has always been a valuable resource. People will often store supplies of gold during times of economic inflation. Political fighting and wars will also make people store gold. Storing gold makes supply short and demand strong – the price goes up.
Making profit from gold
Some investors believe they can make profit from gold when the price is rising. If they buy, the price will go higher and they can sell for a profit.Another way a gold trader can invest is to sell gold when they believe that gold trading prices will go down. They can sell gold in some markets (like in the Forex market), without “having” the gold, and buy it back later-on. If they are right, they would make a profit.
Other investors think that it is better to buy gold even when the price of gold is going down. They believe that the price will rise again later on, and then they will make bigger profit when it does rise.
Gold and market risk
Gold is subject to market risk just like other currencies and commodities in the market. Usually, gold has less volatility (movements up and down in value) than currencies. However, gold has been quite volatile during the past years.As an investment, gold has different properties from other investments. Gold investor interest in the gold market is traditionally strong which makes liquidity in the market high compared to some other forms of trading. High liquidity means that there is a better chance of finding a buyer when you want to sell, and finding a seller when you want to buy.
In the gold trading market, people can invest in coins and bars, jewelry, futures and options, exchange traded funds, even gold certificates. Gold can be traded more quickly and at more narrow spreads than many other currencies and commodities.
Gold investment and the Forex market
In Forex trading, gold can be a protection against the US dollar. If the US dollar increases in value, the gold trading price decreases; if the US dollar decreases, gold prices increases. With this knowledge, investors can use gold trading as a way of balancing their profit and loss against the US dollar.Market conditions change but, in the long term, gold keeps its purchasing power. Its value, in terms of the real goods and services that it can buy, has remained firm. The purchasing power of many currencies has generally decreased because of the impact of rising prices for commodities and services.
As a result, some investors buy gold to balance the effects of inflation and currency value changes. In Forex trading, buying and selling gold is usually done by investors not for the long run, but rather for speculation reasons. In the Forex market one can buy gold (XAU) and sell it after a few hours, trying to profit from the small fluctuations (moves) in the gold price.
Gold Trading Prices
Gold is a currencyIn the Forex market, gold is a form of currency. They can be traded in the same way as other currencies. However there is a difference: gold can only be traded against United States dollars (USD).
The internationally accepted code for gold is XAU. The code is built from X in Forex and the chemical sign for gold (AU).
Gold trading price
The price of gold is measured by its weight. The price shows how much it costs for one ounce of gold in US dollars. There are several methods of weight measurement in the special metals and stones markets. The most common is troy – a troy ounce equals about 31.10 grams; an avoirdupois ounce equals about 28.35 grams.For example, if the gold price is 612.97, it means that an ounce of gold is traded for 612.97USD.
Trading with gold rates
Gold investment is done in the same way as with foreign currencies. Trading is performed directly between the seller and the buyer (via the internet trading platform), and no other people or organizations are involved.Like foreign currency rates, trading with gold rates does not require the “physical” purchase or sale of the real material. Using the example above, if you buy Forex gold for the price of 612.97USD, you do not have an ounce of gold that you can hold, but you rather have the obligation to buy XAU at $612.97. When you close your Forex deal, you sell the XAU (gold) and close your obligation. If you sell it for the price of $615.00, you have made profit of $3.03 for every ounce (unit) of gold in your contract.
Rising gold prices affect currency
Rising gold prices can affect other currencies. Higher gold prices can be especially important to the currencies of major gold-producing countries. Australia is the world’s third largest exporter of gold, and Canada is the world’s third largest producer of gold. So, if you believe the price of gold will continue to rise, you can establish trades in the Australian dollar or the Canadian dollar because those currencies will likely become stronger.In the Forex market, gold is neutral – that means that gold is not related to any one country, so the rising price influences trades in several currencies. Gold prices can rise when the political or economic situation in United States is changing. If the gold price starts to increase, you might expect it to go higher in the next periods of trading. With this expectation, traders might decide to sell US dollars and buy euros because they believe US dollars will fall in value and euros will increase.
Gold prices are an important driver of the foreign exchange market.
source: easy forex
måndag 18 juli 2011
Currency Trading
Markets Calm Down into the Weekend
U.S. Dollar Trading (US) data was weak with June CPI falling -0.2% vs. -0.1% previously and July UoM Consumer Sentiment falling to 63.8 vs. 71.5 previously. The European Bank stress tests dominated the European session but generated little market movement with exhaustion setting in ahead of the weekend. In US stocks, DJIA +45 points closing at 12479, S&P +7 points closing at 1316 and NASDAQ +27 points closing at 2789. Looking ahead, July NAHB Housing Market Index forecast at 14 vs. 13 previously.
The Euro (EUR) was contained to the 1.4100 figure with the EU Bank stress test showing 8 failing banks being countered by the passing of the Italian Austerity budget. Ongoing concerns about the future of Greece and the EU as a whole is putting a negative tinge to the Euro with traders cautious to call an end to the saga. Overall the EUR/USD traded with a low of 1.3949 and a high of 1.4192 before closing the day around 1.4139 in the New York session.
The Japanese Yen (JPY) the market went to sleep Friday in a 20 pip range from Y79 to Y79.20. Crosses were also stable with the EUR/JPY pivoting the Y112 level after hitting lows under Y110 during the week. Overall the USD/JPY traded with a low of 78.87 and a high of 79.27 before closing the day around 79.05 in the New York session. Looking ahead, Bank Holiday Monday.
The Sterling (GBP) held onto the 1.6100 level but was unable to move higher with the Negative US data and subdued trading on Friday. EUR/GBP is under 0.8800 and could fall further with much of the Pound weakness already priced in and Euro issues still unfolding. Overall the GBP/USD traded with a low of 1.6075 and a high of 1.6174 before closing the day at 1.6130 in the New York session.
The Australian Dollar (AUD) the Aussie was punched lower in European trade on the negative sentiment as Moody’s put the US Rating on negative watch. The US session saw modest stock gains however and the AUD stabilized in the low 1.0600 region. Overall the AUD/USD traded with a low of 1.0617 and a high of 1.0745 before closing the day at 1.0650 in the New York session. UPDATE Q2 New Zealand CPI is strong at 5.3% vs. 4.5% forecast.
Oil & Gold (XAU) Gold came under profit taking pressure before rebounding back above $1590 to close at record highs. Overall trading with a low of USD$1575 and high of USD $1593 before ending the New York session at USD$1593 an ounce. Rallied hard after pulling back on Thursday to reclaim $97 a barrel. WTI Oil Closed +$1.55 at $97.25 a barrel.
TECHNICAL COMMENTARY
Currency
|
Sup 2
|
Sup 1
|
Spot
|
Res 1
|
Res 2
|
EUR/USD
|
1.3837
|
1.3951
|
1.4065
|
1.4295
|
1.4375
|
USD/JPY
|
76.25
|
78.00
|
79.00
|
80.38
|
80.83
|
GBP/USD
|
1.5781
|
1.5906
|
1.6100
|
1.6254
|
1.6300
|
AUD/USD
|
1.0520
|
1.0580
|
1.0600
|
1.0802
|
1.0889
|
XAU/USD
|
1564.00
|
1572
|
1595
|
1600
|
1628
|
OIL/USD
|
92.50
|
95.00
|
97.20
|
98.00
|
99.00
|
Euro – 1.4065
Initial support at 1.3951 (Jul 13 low) followed by 1.3837 (Jul 13 low). Initial resistance is now located at 1.4295 (61.8% retrace of 1.4578-1.3837) followed by 1.4375 (Jul 7 high)
Yen – 79.00
Initial support is located at 78.00 (Big Figure support) followed by 76.25 (Mar 17 low). Initial resistance is now at 80.38 (Jul 12 high) followed by 80.83 (Jul 11 high).
Pound – 1.6100
Initial support at 1.5906 (Jul 13 low) followed by 1.5781 (Jul 12 low). Initial resistance is now at 1.6254 (61.8% retrace of 1.6547-1.5781) followed by 1.6300 (Big Figure).
Australian Dollar – 1.0600
Initial support at 1.0580 (Jul 13 low) followed by the 1.0520 (Jun 29 low). Initial resistance is now at 1.0802 (Jul 14 low) followed by 1.0889 (May 11 high).
Gold – 1595
Initial support at 1572 (Jul 14 low) followed by 1564 (Jul 13 low). Initial resistance is now at 1600 (Key Resistance) followed by 1628 (1462.45 plus 0.618 of 1577.57-1308.25).
Oil – 97.20
Initial support at 95.00 (Intraday Support) followed by 92.50 (Intraday Support). Initial resistance is now at 98.00 (Intraday resistance) followed by 99.00 (Intraday Resistance).
Written by Anthony Darvall - easy-forex
måndag 4 juli 2011
Stocks Extend for Impressive Weekly Gains
Stocks Extend for Impressive Weekly Gains
U.S. Dollar Trading (US) the markets all enjoyed solid gains throughout the day, with US data inspiring a fresh push higher. June PMI Manufacturing unexpectedly improved to 55.3 vs. 53.5 previously and forecast of a drop to 51.8. The USD was under pressure against risk assets but did well against other safe havens in Gold, Yen and Swiss Franc. In US stocks, DJIA +168 points closing at 12582, S&P +19 points closing at 1339 and NASDAQ +42 points closing at 2816. Looking ahead, Markets Closed for July 4th Holidays..
The Euro (EUR) extended gains on the strong risk appetite but topside was limited as some support came through for the USD after the strong US data. With the end of QE2 the market will be reacting to US data with more of a response to the USD itself rather than its effect on Stock markets. May EU Unemployment remained at 9.9%. Overall the EUR/USD traded with a low of 1.4434 and a high of 1.4551 before closing the day around 1.4521 in the New York session. Looking ahead, May PPI forecast at -0.1%m/m vs. 0.9%m/m previously.
The Japanese Yen (JPY) tested above Y81 after the US data but once again failed to break out of the range it has held comfortably for the last two weeks. The weak Japanese economic and business outlook was highlighted by the Q2 Tankan Survey which fell to -9 vs. +6 previously. Overall the USD/JPY traded with a low of 80.51 and a high of 81.14 before closing the day around 80.83 in the New York session.
The Sterling (GBP) was left behind in the risk rally for the 3rd day after the June UK PMI manufacturing data surprised once again to the downside at 51.3 vs. 52.0 previously. EUR/GBP is testing new highs in the 0.9000 but the recent highs are lofty and if sterling support could provide very good selling levels historically. Overall the GBP/USD traded with a low of 1.5987 and a high of 1.6095 before closing the day at 1.6075 in the New York session. Looking ahead, June PMI construction forecast at 53.7 vs. 54 previously.
The Australian Dollar (AUD) was strong tracking the stock markets higher as one of the investor’s top choice for expressing risk appetite. Resistance was found towards 1.0800 before consolidating for the rest of the day. AUD/JPY is also strong above Y87 and could be poised for further gains if data and RBA decisions this week support. Overall the AUD/USD traded with a low of 1.0669 and a high of 1.0790 before closing the day at 1.0779 in the New York session.
Oil & Gold (XAU) Broke below $1500 and tested for support as the safe haven appeal of the precious metal melted away in the improving investor outlook. Overall trading with a low of USD$1478 and high of USD $1502 before ending the New York session at USD$1487 an ounce. Fell back slightly as the weeks considerable gains came under profit taking pressure. WTI Oil Closed -$0.48 at $94.90 a barrel.
TECHNICAL COMMENTARY
Currency
|
Sup 2
|
Sup 1
|
Spot
|
Res 1
|
Res 2
|
EUR/USD
|
1.4333
|
1.4427
|
1.4550
|
1.4653
|
1.4697
|
USD/JPY
|
80.00
|
80.29
|
80.80
|
81.33
|
81.63
|
GBP/USD
|
1.5822
|
1.5881
|
1.6075
|
1.6200
|
1.6263
|
AUD/USD
|
1.0436
|
1.0520
|
1.0740
|
1.0775
|
1.0865
|
XAU/USD
|
1471.00
|
1485
|
1490
|
1526
|
1549
|
OIL/USD
|
92.50
|
95.00
|
95.10
|
96.50
|
98.00
|
Euro – 1.4550
Initial support at 1.4427 (Jun 30 low) followed by 1.4333 (Jun 29 low). Initial resistance is now located at 1.4653 (Jun 9 high) followed by 1.4697 (Jun 7 high)
Yen – 80.80
Initial support is located at 80.29 (Jun 27 low) followed by 80.00 (Key Support). Initial resistance is now at 81.33 (Jun 2 high) followed by 81.63 (76.4% retrace of 82.23-79.7).
Pound – 1.6075
Initial support at 1.5881 (61.8% retrace of 1.5345-1.6747) followed by 1.5822 (Jan 31 low). Initial resistance is now at 1.6200 (Psych Resistance) followed by 1.6263 (Jun 22 high).
Australian Dollar – 1.0740
Initial support at 1.0520 (Jun 29 low) followed by the 1.0436 (Jun 28 low). Initial resistance is now at 1.0775 (Jun 3 high) followed by 1.0865 (76.4% retrace of 1.1012-1.0391).
Gold – 1490
Initial support at 1485 (76.4% retrace of 1462.45-1558.25) followed by 1471 (May 17 low). Initial resistance is now at 1526 (June 24 high) followed by 1523 (Jun 23 high).
Oil – 95.10
Initial support at 95.00 (Intraday Support) followed by 92.50 (Intraday Support). Initial resistance is now at 96.50 (Intraday resistance) followed by 98.00 (Intraday Resistance).
Written by Anthony Darvall - easy-forex.com
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