USD Declination In Assian Session

Forex Market Overview 22 August 2008


The Usd continued to decline in the Asian session as worries over the US financial markets and surging crude prices weighed on the Dollar sentiment. The EurUsd climbed to the 1.4900 levels, before retracing slightly to 1.4876, while the UsdJpy declined and is now trading at 108.90. Crude rose across the board, with wti moving up $5.00, above $120.00bll. With concerns of a production cut swirling around the September 9th OPEC's meeting and Wednesday’s inventories lower than expected still lingering, crude has picked up a bullish tone. And given the high level of the Usd this commodity will be the prime driver in currency pricing today. In addition, 5-year swap spreads are now hoving around 100bp, the widest level since the Bear Stern disaster and before that you would have to go to 2001 and the equity market collapse to find spreads this wide. A gloomy sign if ever was one. Outside Bernanke’s scheduled speech in Wyoming (given the uncertainty surrounding the financial market, traders will be on a heightened state of alert) the market will be without any real events or data releases, so traders should be particularly aware of price-action in other assets classes.

Daily Forex Pivot Point
AUDUSD
R 3: 0.8846
R 2: 0.8797
R 1: 0.8757
CURRENT: 0.8735
S 1: 0.8626
S 2: 0.8593
S 3: 0.8503

EURJPY
R 3: 163.88
R 2: 163.10
R 1: 162.39
CURRENT: 162.07
S 1: 160.88
S 2: 160.14
S 3: 158.61

USDSGD
R 3: 1.4265
R 2: 1.4219
R 1: 1.4201
CURRENT: 1.4082
S 1: 1.4025
S 2: 1.3891
S 3: 1.3819

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Forex Market Overview

Forex Market Overview 11 August 2008

The Usd was broadly stronger in Asian session, as market prepare for a heavy week of economic indicators. Perhaps the most interesting aspect of last week aggressive Usd rally was the lack of strong confirmation from other financial markets, specifically rate and oil. The EurUsd strength clearly outpaced the gains in crude prices, while across practically all maturities the interest rate differential between the euro area and US are unchanged. This suggests the Usd is overbought. The EurUsd broke the critical 1.5000 support, trading down to 1.4911, while UsdJpy climbed to 110.40 before easing back to the figure. The AudUsd consolidated around the 0.8860 level, as August Statement of Monetary Policy held no real surprise one way or the other.

In Australia, the Statement of Monetary Policy didn't provide evidence that rates would be coming down near term. The main paragraph was unchanged from the last statement "On the assumption that the subdued demand conditions are likely to continue, scope to move to a less restrictive monetary policy stance in the period ahead is increasing." If there was a noticeable change in the statement it was a shift in the usual upbeat tone regarding China and India.

Consideration this week will be focused on if the long-bullish sentiment surrounding the Eur has come to an end, due to the slide in commodity prices and change in market perceptions regarding the direction of ECB monetary policy.

In the UK, today's PPI report might show that prices pressures have peaked. However, the CPI released due Thursday is unlikely to have such positive news. We are expecting CPI to rise to 4.1%, with the potential to peak in September

Daily Forex Pivot Point
AUDUSD
R 3: 0.9206
R 2: 0.9131
R 1: 0.9074
CURRENT: 0.8873
S 1: 0.8889
S 2: 0.8875
S 3: 0.8819

EURJPY
R 3: 169.97
R 2: 169.49
R 1: 167.82
CURRENT: 164.58
S 1: 165.01
S 2: 163.00
S 3: 161.73

USDSGD
R 3: 1.4265
R 2: 1.4219
R 1: 1.4058
CURRENT: 1.4072
S 1: 1.3925
S 2: 1.3819
S 3: 1.3767

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Forex News | Dollar News

Dollar rallied last week on better economic data and lower stress in financial markets

News and Events:

The Dollar climbed to five-week peaks against the Euro and three-week highs against the Sterling on Friday as better-than-expected economic data reduced worries about a much sharper slowdown. The Yen gained broadly helped by stress in financial markets on news that General Motors had hefty losses in Q2. That dragged US stocks lower and triggered safe-haven bids for Treasuries.

Friday's data showed that US employers eliminated 51k jobs in July, lower than market expectations for a payrolls decline of 75k. A separate report said US factory activity was unchanged in July, compared with the previous month, but above market forecasts.

Investors widely expect the Fed's policy-making Federal Open Market Committee (FOMC) to keep its benchmark federal funds rate steady at 2% when it meets on Tuesday.

Throughout our partnership with the industrial leaders, we are capable of delivering incomparable quality of online currency trading service.
ForexGen services are all controlled by the international banking and financial regulatory standards.
ForexGen is continuously providing the Forex market's safest trading terms & conditions. Providing professional currency trading services that meet our client's expectations is our first priority.

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ForexGen customer satisfaction is our major objective. To reach our business goals, we strive to put our client's goals in focus. We highly value our clients and always aim to exceed their expectations and cross the limitations encountered by the sophistication of the Forex trading industry.

The Forex Markets Today

The Markets Today Friday 01 August 2008 / 11:40h CET

EUR/USD	1.5565
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
The move lower could gain speed in euro today. With strong initial resistance 1.5610 likely to top the market and space to fall to 1.5420		Bearish trend at 1.5650 is key – a weekly close above keeps the Euro at high levels.	1.5550 MINOR 1.5610 STRONG 1.5495 STRONG 1.5650 TREND 1.5420 STRONG 1.5700 KEY

GBP/USD	1.9785
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
Cable touched the 1.9915 level just to fall and close the day bearish. Stay short, trend-line at 1.9885 is key, expect a fall towards 1.94 ish		Intra-day break of 1.9835 risks a spike up – sell such rallies, stop only upon a daily close above 1.99.	1.9750 MINOR 1.9835 STRONG 1.9680 STRONG 1.9885 TREND 1.9600 STRONG 2.0000 STRONG

USD/JPY	107.60
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
Immediate bullish trend was broken, the correction stopped at 107.20 just to bounce back to 107.60. Strong initial support here, we expect another try of 108.20		A weekly close above 108.20 keeps the pair bid for 110. Failure to do so may see a side-ways range next week 106.50/108.50	107.55 STRONG 107.90 MINOR 107.20 STRONG 108.20 STRONG 106.65 KEY 108.90 MINOR

USD/CHF	1.0480
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
Remains bullish, initial support at 1.0460, waiting to break higher – target 1.0660		1.0445 intra-day key support broken risks a set-back to 1.0350	1.0460 MINOR 1.0500 MINOR 1.0445 STRONG 1.0540 MINOR 1.0350 TREND 1.0660 TARGET

XAU/USD	909.00
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
Volatile day yesterday, try both sides. The day ended underneath of 916 and we remain bears for a weekly close near 885		925 is key resistance today – a weekly close above that may hold Gold for a week.	900 MINOR 914 STRONG 895 STRONG 925 KEY 885 TARGET 931 STRONG

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ForexGen customer satisfaction is our major objective. To reach our business goals, we strive to put our client's goals in focus. We highly value our clients and always aim to exceed their expectations and cross the limitations encountered by the sophistication of the Forex trading industry.

Forex Market ADP Report

FX market focus on tomorrow Non-farm payrolls after ADP report gave a positive picture

News and Events:

The US dollar continued its recovery of the past ten days on Wednesday, helped by very good private sector jobs report for July and ongoing efforts from central bank officials to ease stress in financial markets. But this gain has been limited by a $4 a barrel rebound in crude oil prices after data showed an unexpected decline in US gasoline inventories last week.

Forex is focusing on tomorrow non-farm payrolls. Despite the positive employment picture from ADP Employer Services report, few analysts believe market may reverse gains on Friday's non-farm payrolls report.

Steps by the Federal Reserve, the European Central Bank and their Swiss counterpart to extend liquidity offers investment banks through January 2009 and introduce a new term auction facility also contributed to overall positive sentiment on the Dollar.

Throughout our partnership with the industrial leaders, we are capable of delivering incomparable quality of online currency trading service.
ForexGen services are all controlled by the international banking and financial regulatory standards.
ForexGen is continuously providing the Forex market's safest trading terms & conditions. Providing professional currency trading services that meet our client's expectations is our first priority.

ForexGen principals:

ForexGen customer satisfaction is our major objective. To reach our business goals, we strive to put our client's goals in focus. We highly value our clients and always aim to exceed their expectations and cross the limitations encountered by the sophistication of the Forex trading industry.

Forex Market Overview

The Markets Today Friday 25 July 2008

EUR/USD	1.5715
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
After the down trend from 1.5928 to 1.5643 the market reversed back yesterday. We expect a retracement back to 1.5800. A break on top has room for a lift towards 1.5927		An hourly close bellow 1.5699 will push the EUR further down to reach the key level at 1.5654.	1.5699 STRONG 1.5772 KEY 1.5673 MINOR 1.5798 MINOR 1.5654 KEY 1.5821 STRONG

GBP/USD	1.9955
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
Very strong basis at 1.9942. A Down trend is clearly seen on a 1 hour chart. A break of this level 1.9942 should re-try the 2.00 level, but it needs a daily close above that to stay bullish.		An hourly close above the 1.9950 stops the short-term bearish outlook and risks a fall to 2.00, medium-term rising trend.	1.9900 STRONG 1.9947 STRONG 1.9810 TREND 1.9923 KEY 1.9750 STRONG 1.9898 MINOR

USD/JPY	106.87
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
USDJPY overshot and remains bid at 106.60 for now. While this holds there is a possibility to retry the 107.15 resistance level, an higher close is bullish for 108.50		An hourly break of 106.55 risks a pullback to 105.85	106.55 STRONG 106.90 MINOR 106.20 MINOR 107.15 KEY 105.85 STRONG 107.70 STRONG

USD/CHF	1.0220
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
The pair broke the recent bullish trend and is stuck in a small neutral range of 1.0300 / 1.0360; we see no direction here but watch out for a break lower.		Failure to close the day above that 1.0360 level is bearish for a retry of the 1.00 key	1.0300 STRONG 1.0360 STRONG 1.0271 MINOR 1.0380 KEY 1.0242 STRONG 1.0426 STRONG

XAU/USD	929.00
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
Gold maintained the range, today this range has narrowed to 929 / 939.		A break through 939 and daily close above that is bullish Gold.	930 MINOR 930 MINOR 928 TREND 968 KEY 916.90 KEY 975 STRONG

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The Markets Today

The Markets Today Thursday 24 July 2008 / 10:00h CET

EUR/USD	1.5685
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
Still in a downtrend, short-term resistance around 1.5690-1.5700 should hold for new lows around 1.5600 or even lower.		An hourly close above 1.5700 could break the bearish market and bring higher prices around 1.5750 – but need to stop there.	1.5750 STRONG 1.5750 STRONG 1.5695 TREND 1.5695 TREND 1.5615 KEY 1.5800 STRONG

GBP/USD	1.9935
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
After breaking again the 1.9970 we see still space to trade lower prices this day. Target is 1.9725, but need to break key support at 1.9880 first.		Good Figures expected today, could bring a next rise to 1.9980 or even higher.	1.9900 STRONG 1.9970 TREND 1.9880 KEY 2.0020 MINOR 1.9725 STRONG 2.0060 STRONG

USD/JPY	107.80
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
After testing again the 108 lvl positive times are over – short term expectation 107.20, could go much further		A final break of the 108 barrier could bring 108.50.	107.20 STRONG 108.00 STRONG 106.20 MINOR 108.50 STRONG 105.85 STRONG 110.00 STRONG

USD/CHF	1.0340
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
USD/CHF should hold here around 1.0375 to trade around 1.0500 later on. Even a drop to 1.0310 will not change bullish trend		Break of 1.0310 can possibly bring back the levels around 1.0150 -1.0225	1.0310 TREND 1.0450 STRONG 1.0290 STRONG 1.0510 STRONG 1.0225 STRONG 1.0560 KEY

XAU/USD	961.00
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
After trading 916 yesterday, we expect to see a little pull-back to 930, if holds short-term at 922-923		Hourly close beneath 920 brings lower levels again 916, even new lows around 900	922 TREND 930 STRONG 915 KEY 948 STRONG 900 MINOR 974 STRONG
The ForexGen's provided services are all restricted and regulated by the international banking and financial regulatory standards. All our provided activities are supported by creativeness and modernization. Ambitious & motivated employees are working simultaneously to protect the customer's confidentiality. ForexGen is continuously providing the market's most competitive conditions. ForexGen complies with the trade commissions in the USA, EU and Australia. Being registered by the commercial authorities in 18+ countries, we adhere to the United Nations Commission on International Trade Law (UNCITRAL). Profile regulatory information: ForexGen is complying with all applicable international laws and all financial regulations and procedures governing its industry in order to sustain the security standards in the financial services world.