U.S. Dollar Trading

Greece Austerity Vote on Wednesday 

U.S. Dollar Trading (US) some improving sentiment in European and US stock markets saw the USD give up some of its recent gains against most Currencies and Commodities. May Core PCE Price Index increased 0.3% vs. 0.2% expected and is watched by the US FED as an inflation indicator. In US stocks, DJIA +13 points closing at 12003, S&P +1 points closing at 1277 and NASDAQ +6 points closing at 2255. Looking ahead, June Consumer Confidence forecast at 60.5 vs. 60.8 previously.

The Euro (EUR) while the market waits for the Greek Austerity vote on Wednesday speculation that a Debt rollover will find support from private stakeholders and comments that China will support the Eurozone helped the EUR/USD rebound back to 1.4300. Overall the EUR/USD traded with a low of 1.4101 and a high of 1.4331 before closing the day around 1.4320 in the New York session. Looking ahead, July German Consumer Sentiment forecast at 5.3 vs. 5.5 previously.

The Japanese Yen (JPY) was extremely contained against the major in a 40 pip range all day with most of the action once again on the EUR/JPY. The EUR/JPY is the 3^rd biggest pair on volume in the market and is often not given enough attention. Y115 has been an important pivot point over the last few months and last night the pair broke back above the key level. Overall the USD/JPY traded with a low of 80.45 and a high of 80.99 before closing the day around 80.75 in the New York session. UPDATE May Retail Sales at -1.3% y/y vs. -4.8% y/y previously.

The Sterling (GBP) The downside is becoming slightly exhausted against the USD with Cable finding support towards 1.5900 and testing 1.6000. EUR/GBP is under pressure though with the major cross extending above 0.8900 and could retest the very critical 0.9000 level and major psychological resistance. Overall the GBP/USD traded with a low of 1.5911 and a high of 1.6015 before closing the day at 1.5980 in the New York session. Looking ahead, Q1 GDP Forecast unchanged at 0.5%. Also ahead, Inflation Report Hearing.

The Australian Dollar (AUD) risk aversion and stock market weakness is hurting the Aussie in recent sessions after breaking 1.0500 support. Commodities have been under a lot of pressure lately with Oil leading the way down and Gold also being liquidated. Concerns over China growth cool down is adding to the uncertainty with the unshakeable Aussie bulls now under pressure. Overall the AUD/USD traded with a low of 1.0389 and a high of 1.0473 before closing the day at 1.0465 in the New York session. 

Oil & Gold (XAU) Gold tested support under $1500 before closing at the figure. Overall trading with a low of USD$1490 and high of USD $1505 before ending the New York session at USD$1500 an ounce. Oil is pivoting the $90 a barrel level with bulls and bears now fighting at a much fairer value. WTI Oil Closed -0.55 at $90.61 a barrel.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.4002	1.4074	1.4300	1.4358	1.4459
USD/JPY	80.00	80.14	80.80	81.06	81.33
GBP/USD	1.5822	1.5881	1.5975	1.6075	1.6200
AUD/USD	1.0289	1.0390	1.0465	1.0502	1.0601
XAU/USD	1504.00	1485	1500	1526	1549
OIL/USD	89.00	90.00	90.60	92.50	95.00

Euro – 1.4300                    

Initial support at 1.4074 (Jun 16 low) followed by 1.4002 (May 24 low). Initial resistance is now located at 1.4358 (Jun 23 high) followed by 1.4459 (61.8% retrace of 1.4697-1.4074)

Yen – 80.80

Initial support is located at 80.14 (Jun 24 low) followed by 80.00 (Key Support). Initial resistance is now at 81.06 (Jun 16 high) followed by 81.33 (Jun 2 high).

Pound – 1.5975

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 1.6075 (Jun 23 high) followed by 1.6200 (Psych Resistance).

Australian Dollar – 1.0465

Initial support at 1.0390 (Apr 12 low) followed by the 1.0289 (Apr 5 low). Initial resistance is now at 1.0502 (Jun 27 high) followed by 1.0601 (Jun 24 high).

Gold – 1500

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 – 90.60

Initial support at 90.00 (Intraday Support) followed by 89.00 (Intraday Support). Initial resistance is now at 92.50 (Intraday resistance) followed by 95.00 (Intraday Resistance).

Written by Anthony Darvall

Using Forex Signals To Maximize Your Trading Profits

Forex trading is one trade that has the potential to deliver high profits. However, understanding the fundamentals of Forex trading is quite challenging. An investor may need to spend hours on the computer to study the complex and continuous currency movements. Although applying stop loss limits can give you some leeway in terms of losses, it can also take away profit making opportunities in case stop loss orders get executed earlier. This is where Forex signals come to the rescue.

What are Forex Signals?

Forex signals are buy and sell indicators that alert investors of lucrative or defensive entry and exit points. These Forex signals are generated by professionals after they have conducted thorough technical analyses and sent to investors through email, pager, cell phone or even “pop-up” messages. They inform investors of any impending opportunity. Forex signals is a service that is available on subscription. The service is also offered by brokerages as part of their Forex trading software.

Who Benefits From Forex Signals?

These indicators are especially useful for those investors who do not have sufficient time to study the movements of the currency market, but still wish to participate in the market. These signals are also useful for those who wish to make use of profit making opportunities that might present themselves while they are not actively trading.

How do Forex Signals Help?

With the help of Forex signals, investors are immediately informed of buying or selling opportunity that may have arisen due to constant currency movements. With time being a critical factor in Forex trading, delayed information or action could result in substantial losses.

Moreover, with the help of Forex signals, investors can identify entry and exit points with higher precision. This helps investors generate better profits. Investors can also avoid missing out on a big opportunity or getting delayed in entering into a changed trend with the help of signals.

Selecting a Forex Signals Provider

Since so much depends upon receiving accurate Forex signals, it is essential that you select a dependable provider. To make the correct selection, you must focus on the quality of signals generated by the provider in the past. While some providers may be using more traditional technical analysis, others may use proprietary methods. The right Forex signals service to use would depend on various things, including a trader’s personality, trading plan and exit strategy.

Automated Forex Trading

Automated Forex Trading: an essential tool for the modern-day trader

Automated Forex is an indispensable tool in the arsenal of modern business that offers great opportunities. Automated Forex is a computer program, based on a variety of Forex signals that determine the ability to buy or sell a currency pair at a time. This computer program widely reported the dealer to make decisions that are based on a set of signals from technical chart analysis tools. The signals then produce a decision to buy / sell.

Why Automation?

Automated Forex trading allows companies to implement in real time from anywhere in the world, the reduction of losses resulting from the operations manual. Manual trade is adversely affected by losses due to the delay involved in buying / selling currency pairs in the unstable environment and changing exchange rate.

Automated forex trading allows traders to make the time and trouble-free operations, regardless of the time zone that market. This new generation of automation technologies offer better protection for the trader's capital, but also saves time and energy. Entry / Exit transactions can be performed more quickly when using the automated Forex trading technique compared to the hand.

What to look for in Automation?

We should look for a next generation of automated forex that are available on the Internet. Commercial software tools that use Fibonacci, and other commonly used indicators such as RSI, MACD, Bollinger bands and oscillators, etc., usually give more reliable results. An automated Forex should also apply the principles of progressive multiple scientific theories, such as those based on chaos theory, quantum mechanics, the theory of wavelet and fractal geometry. A good automated system is designed to give the signal operator to take advantage of short duration and currency movements over time. It should also establish and achieve goals, and realistic profit.

Forex robots are a popular tool for the automation of trading Forex, the objective is to remove the psychological part of the transaction, which could be dangerous at times.

Application Programming Interface Forex, which is another key automation tool in the world of Forex trading, allowing users to: receive a stream in real time Forex rates the API set and modify stop-loss sharing files, requests and take orders for profit.

For those who are involved in forex trading, forex automated trading days would certainly be a welcome addition to an already attractive investment vehicle.

 
Forex is an acronym for foreign exchange. The Forex market is where a currency is traded and transaction is carried out between a pair of currencies, also termed as the Foreign Exchange market. Forex market is one of the biggest financial markets in the world, with amounts of more than 3 trillion dollars changing hands every day!

Start forex trading to day, you can find links in this article, there you can find a list of good forex brokers.

Greece Riots, Euro Plummets

Greece Riots, Euro Plummets

U.S. Dollar Trading (US) the negativity accelerated around the world with Protests in Greece turning Violent and the Greek PM offering to resign. US Stocks fell aggressively and US Data stunned to the downside. June NY FED dropped to -8 vs. 12 previously. In US stocks, DJIA -178  points closing at 11897, S&P -22 points closing at 1265 and NASDAQ -47 points closing at 2631. Looking ahead, Weekly Jobless Claims forecast at 420k vs. 427k previously. Also released, May Philly Fed forecast at 6.8 vs. 3.9 previously.

The Euro (EUR) the riots in Greece combined with news Moody’s placed three major French Banks for possible downgrade review. Support at 1.4400 broke quickly and the pair continued to plummet to fresh month lows under 1.4200. April Industrial Production rose 0.2% m/m as expected. Overall the EUR/USD traded with a low of 1.4155 and a high of 1.4439 before closing the day around 1.4190 in the New York session. Looking ahead, May CPI forecast at 2.6% vs. 2.6% previously m/m. 

The Japanese Yen (JPY) the major moved higher as the USD outperformed on safe have flows. The yen did strengthen against risk currencies though with EUR/JPY breaking below the key Y115 level and NZD/JPY sharply back to Y65. Overall the USD/JPY traded with a low of 80.37 and a high of 81.07 before closing the day around 80.90 in the New York session. 

The Sterling (GBP) was under heavy pressure on risk aversion and weak May Jobs data. UK May Claimant Count at +19.6k vs. 7k expected. EUR/GBP broke lower and this did provide support for Cable which found a base under 1.6200. Overall the GBP/USD traded with a low of 1.6168 and a high of 1.6379 before closing the day at 1.6190 in the New York session. Looking ahead, May Retail Sales forecast at -0.6% vs. 1.1% previously.

The Australian Dollar (AUD) was very strong in the Asian session when RBA governor spoke hawkishly about the chance of rate hikes if the July CPI data was above the bank’s target rate. This was reversed in the stock slump and Euro crash later in the day but losses were limited so far. AUD/NZD fared better rallying on weak milk prices. Overall the AUD/USD traded with a low of 1.0534 and a high of 1.0716 before closing the day at 1.0575 in the New York session. 

Oil & Gold (XAU) was well supported on sovereign default fears testing above $1530. Overall trading with a low of USD$1513 and high of USD $1535 before ending the New York session at USD$1529 an ounce. Oil crash breaking key support at $98 and continuing to test $95 by the end of the day. WTI Oil Closed -4.30 at $95.30 a barrel.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.4068	1.4142	1.4190	1.4248	1.4452
USD/JPY	78.83	79.57	80.90	81.01	81.33
GBP/USD	1.6132	1.6173	1.6210	1.6383	1.6496
AUD/USD	1.0440	1.0510	1.0575	1.0726	1.0877
XAU/USD	1504.00	1513	1526	1545	1577
OIL/USD	94.50	95.00	95.30	98.00	100.00

Euro – 1.4190                    

Initial support at 1.4142 (76.4% retrace of 1.3970-1.4697) followed by 1.4068 (May 26 low). Initial resistance is now located at 1.4248 (Jun 15 high) followed by 1.4500 (Psychological Resistance)

Yen – 80.90

Initial support is located at 79.57 (May 5 low) followed by 78.83 (Mar 18 low). Initial resistance is now at 81.01 (Jun 3 high) followed by 81.33 (Jun 2 high).

Pound – 1.6210

Initial support at 1.6173 (76.4% retrace of 1.6058-1.6547) followed by 1.6132 (May 25 low). Initial resistance is now at 1.6383 (Jun 15 high) followed by 1.6496 (Jun 1 high).

Australian Dollar – 1.0575

Initial support at 1.0510 (May 26 low) followed by the 1.0440 (May 25 low). Initial resistance is now at 1.0726 (Jun 8 high) followed by 1.0877 (76.4% retrace of 1.1012-1.0441).

Gold – 1526

Initial support at 1513 (May 24 low) followed by 1504 (May 23 low). Initial resistance is now at 1545 (June 6 high) followed by 1577 (All time high).

Oil – 95.30

Initial support at 95.00 (Intraday Support) followed by 94.30 (Intraday Support). Initial resistance is now at 98.00 (Intraday resistance) followed by 100.00 (Intraday Resistance).

Written by Anthony Darvall - easy forex

Forex Daily Outlook - Sentiment Improves

Sentiment Improves, Stocks Rally

U.S. Dollar Trading (US) sentiment improved in Asia with stronger than expected Chinese data and a rally in Japanese Stocks helping start a Global rally. US S&P 500 rallied the most in 2 months with US May Retail Sales better than forecast at -0.2% vs. -0.4% expected. May PPI increased 0.2% ahead of tonight’s very important CPI Numbers. In US stocks, DJ +123 points closing at 12076, S&P +16 points closing at 1287 and NASDAQ +39 points closing at 2639. Looking ahead, May CPI forecast at 0.1% vs. 04% previously. 

The Euro (EUR) negative Greece bailout news continued to hamper gains with a test of 1.4500 rejected and the major pulling back to opening levels late in the US session. EUR/GBP bounced to above 0.8840 before once again sellers regained control to push the cross back to 0.8800. Overall the EUR/USD traded with a low of 1.4377 and a high of 1.4498 before closing the day around 1.4420 in the New York session. Looking ahead, April Industrial Production forecast at -0.2% m/m. 

The Japanese Yen (JPY) the Yen was under pressure as crosses rallied and USD/JPY moved higher after the Bank of Japan announced a new loan program for banks and the BOJ held rates at 0.1%. The ongoing support for deflation hit Japanese economy is seen as continuing for the foreseeable future. Overall the USD/JPY traded with a low of 80.09 and a high of 80.65 before closing the day around 80.45 in the New York session.

The Sterling (GBP) was unable to rally past the key resistance area at 1.6460-1.6500 even after stronger than rumored CPI numbers for May at 4.5% y/y. The pullback began on EUR/GBP buying and Cable slipped below 1.6400 to fall even lower in late US trade. Overall the GBP/USD traded with a low of 1.6353 and a high of 1.6444 before closing the day at 1.6370 in the New York session. Looking ahead, May Claimant Count forecast at 7k vs. 12.4k previously.

The Australian Dollar (AUD) Was strong in the risk on trading environment rallying with stocks above 1.0700 before reversing later on the Euro weakness. AUD/JPY was strong pushing above Y86 on the BOJ lending facility and threatening to resume its recent uptrend. Overall the AUD/USD traded with a low of 1.0567 and a high of 1.0717 before closing the day at 1.0680 in the New York session. 

Oil & Gold (XAU) found support and took advantage of the USD weakness to bounce above $1520. Overall trading with a low of USD$1511 and high of USD $1527 before ending the New York session at USD$1525 an ounce. Oil rallied sharply after heavy selling in the last 3 days. WTI Oil Closed +2.34 at $99.64 a barrel.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.4308	1.4333	1.4415	1.4551	1.4653
USD/JPY	78.83	79.57	80.45	81.01	81.33
GBP/USD	1.6132	1.6173	1.6370	1.6473	1.6496
AUD/USD	1.0440	1.0510	1.0670	1.0726	1.0877
XAU/USD	1504.00	1513	1525	1545	1577
OIL/USD	96.50	98.00	99.15	100.00	103.00

Euro – 1.4415                    

Initial support at 1.4333 (50% retrace of 1.3970-1.4697) followed by 1.4308 (Jun 2 low). Initial resistance is now located at 1.4551 (Jun 10 high) followed by 1.4653 (Jun 9 high)

Yen – 80.45

Initial support is located at 79.57 (May 5 low) followed by 78.83 (Mar 18 low). Initial resistance is now at 81.01 (Jun 3 high) followed by 81.33 (Jun 2 high).

Pound – 1.6370

Initial support at 1.6173 (76.4% retrace of 1.6058-1.6547) followed by 1.6132 (May 25 low). Initial resistance is now at 1.6473 (Jun 7 high) followed by 1.6496 (Jun 1 high).

Australian Dollar – 1.0670

Initial support at 1.0510 (May 26 low) followed by the 1.0440 (May 25 low). Initial resistance is now at 1.0726 (Jun 8 high) followed by 1.0877 (76.4% retrace of 1.1012-1.0441).

Gold – 1525

Initial support at 1513 (May 24 low) followed by 1504 (May 23 low). Initial resistance is now at 1545 (June 6 high) followed by 1577 (All time high).

Oil – 99.15

Initial support at 98.00 (Intraday Support) followed by 96.50 (Intraday Support). Initial resistance is now at 100.00 (Intraday resistance) followed by 103.00 (Intraday Resistance).

Written by Anthony Darvall

Downside seen on Greece and China Fears

Downside seen on Greece and China Fears

U.S. Dollar Trading (US) ended the week on the front foot after stocks markets notched up 6 straight weeks of losses. Fresh selling was instigated by weak Chinese export numbers which cast a fresh cloud of concern about the health of the global economy. Dollar gains were across the board commodities also sold across the board. In US stocks, DJIA -172 points closing at 11951, S&P -18 points closing at 1270 and NASDAQ -41 points closing at 2643.

The Euro (EUR) heavy selling came through on the Euro after comments from ECB officials that a Greece credit event might stop the ECB accepting the bonds as collateral and have unforeseen spillover effects onto other smaller European countries. Overall the EUR/USD traded with a low of 1.4476 and a high of 1.4654 before closing the day around 1.4534 in the New York session. Looking ahead, ECB President Speaks.

The Japanese Yen (JPY) was stable against the major with both safe havens finding support. EUR/JPY crashed lower to test Y115 before finding support and stabilizing. The weak Chinese data has darken investor sentiment towards the biggest economy in Asia. Overall the USD/JPY traded with a low of 79.95 and a high of 80.46 before closing the day around 80.30 in the New York session.

The Sterling (GBP) was under pressure in the risk off climate but did well against the Euro with some rare gains against the single currency. EUR/GBP reversed from 0.8900 to fall back to lower 0.8800 level and could fall back further if the Greece fears spread to more European countries debt. Overall the GBP/USD traded with a low of 1.6217 and a high of 1.6382 before closing the day at 1.6231 in the New York session. Looking ahead, Bank Holiday. Currency trading

The Australian Dollar (AUD) the Aussie came under heavy selling pressure on the back of being directly related to the weak Chinese news. Any mention that the Asia heavyweight would be cooling down hurts sentiment towards the commodity currency. Overall the AUD/USD traded with a low of 1.0524 and a high of 1.0652 before closing the day at 1.0550 in the New York session. Looking ahead, Bank Holiday.

Oil & Gold (XAU) Gold slumped the most in a month on heavy long liquidations. USD strength and failure to break above $1550 the main catalyst. Overall trading with a low of USD$1526 and high of USD $1545 before ending the New York session at USD$1531 an ounce. Oil was not immune to the big pull backs in other markets falling sharply through $100 a barrel. WTI Oil Closed -2.30 at $99.50 a barrel.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.4308	1.4333	1.4335	1.4551	1.4653
USD/JPY	78.83	79.57	80.50	81.01	81.33
GBP/USD	1.6132	1.6173	1.6225	1.6384	1.6473
AUD/USD	1.0440	1.0510	1.0540	1.0726	1.0877
XAU/USD	1504.00	1524	1530	1553	1577
OIL/USD	95.00	98.00	98.80	100.00	103.00

Euro – 1.4335                    

Initial support at 1.4333 (50% retrace of 1.3970-1.4697) followed by 1.4308 (Jun 2 low). Initial resistance is now located at 1.4551 (Jun 10 high) followed by 1.4653 (Jun 9 high)

Yen – 80.50

Initial support is located at 79.57 (May 5 low) followed by 78.83 (Mar 18 low). Initial resistance is now at 81.01 (Jun 3 high) followed by 81.33 (Jun 2 high).

Pound – 1.6225

Initial support at 1.6173 (76.4% retrace of 1.6058-1.6547) followed by 1.6132 (May 25 low). Initial resistance is now at 1.6384 (Jun 10 high) followed by 1.6473 (Jun 7 high).

Australian Dollar – 1.0540

Initial support at 1.0510 (May 26 low) followed by the 1.0440 (May 25 low). Initial resistance is now at 1.0726 (Jun 8 high) followed by 1.0877 (76.4% retrace of 1.1012-1.0441).

Gold – 1543

Initial support at 1524 (Jun 2 low) followed by 1504 (May 23 low). Initial resistance is now at 1553 (June 6 high) followed by 1577 (All time high).

Oil – 98.80

Initial support at 98.00 (Intraday Support) followed by 95.00 (Intraday Support). Initial resistance is now at 100.00 (Intraday resistance) followed by 103.00 (Intraday Resistance).

Written by Anthony Darvall - easy forex

Forex Investments

More and more people are opting to expand its portfolio to foreign exchange transactions. Forex investments are considered high risk but high potential for large profits.

Unlike stocks, Forex is basically a short-term market with the opening and closing deals in a matter of minutes or even days. The dealer has opened several bids without finding a brokerage fee which is primarily commission-free currency. market makers who provide foreign currency for customers their money from the spread - the difference between the purchase and sale of a currency.

With three billion processed per day, the trading volume in the forex market is 40 times the size of the NASDAQ. The growth of electronic commerce over the Internet has seen the popularity of forex investment grow substantially in recent years. With the currency markets around the world, online currency traders have the ability to trade 24 hours a day. Trading hours are Monday morning Sydney time, until Friday afternoon New York time.

It is a liquid market as there is always a buyer and a seller. The benefit is possible, regardless of whether a currency is rising or falling. The volume of foreign exchange and constant flow throughout the world means that it would be very difficult for a person or organization to influence the market.

Forex is often higher margins on stocks of up to 1:200 is offered, not just 1:02. margin trading to leverage every dollar actually borrowed money to take advantage of a small change, but still, that happens in the currency markets.

Traders have different reasons for entering the market. The combination of constant, but small fluctuations in exchange rates attracts traders with different strategies, if they are looking for long term protection or using a lever short-term gains.

Here are some key points that make Forex investments attractive to many:

• 24 hours, 5 days a week trading
• Margin trading with high leverages offered
• Low minimum deposits means trading with small amounts of money is possible
• The Forex market is too vast to be manipulated
• It is a liquid market where there is always a buyer and a seller
• The Forex market is decentralized; it is not conducted on an exchange, and therefore takes place over-the-counter worldwide via web or phone.