UFX Daily Forex Currency Trading News 24-March-2016

Wall Street finished in the red as oil prices dropped below $40. The Dow Jones fell by 0.45%, the S&P 500 by 0.64%, and the NASDAQ lost 1.10% from its value. Apple shares fell, closing at $106.13.

The U.S. Dollar traded high against most major currencies as the statements from the Federal Reserve continue to support U.S economy. The New Home Sales remained unchanged at 512K. Today, the Core Durable Goods Orders and the Unemployment Claims are expected at -0.2% and 267K respectively.

Gold fell, closing at $1,223 an ounce. Crude Oil fell, closing at $39.53 a barrel after the Crude Oil Inventories came at 9.4M vs. 2.5M forecast.

The euro fell versus the dollar, closing at 1.1178. Technically, according to the 4-hour chart, the pair has crossed below the bullish trend line and is trading below the 20-day Moving Average line. Breaching the bullish trend line once again may push the pair up towards 1.1350 areas. However, failing to do so may continue the negative momentum and drop the pair to around 1.1000.

The Pound fell versus the dollar, closing at 1.4114. Technically, according to the 4-hour chart, the pair is trading near the lower band of the Bollinger Bands indicator with the RSI below 50. Climbing towards the upper band may start a reversal and a rise towards 1.4500. However, crossing below the lower band may push the pair down towards 1.13900. Today, the Retail Sales is expected at -0.7% vs. 2.3% previously.

UFX Daily Forex Currency Trading News 23-March-2016

Wall Street ended mixed yesterday as declines in consumer and telecom stocks offset a jump in healthcare shares.The Dow Jones fell by 0.23%, the S&P 500 by 0.09%, while the NASDAQ added 0.27% to its value. Amazon shares rose by 1.17%, closing at $560.48 a share.

The U.S. Dollar traded moderately higher against most major currencies as investors were cautious after a series of explosions in Brussels. Today, US New Home Sales is expected at 512K vs 494K previously.

Gold rose, closing at $1248 an ounce. Crude Oil fell, closing at $41.29 a barrel. Today, the Crude Oil Inventories is expected at 2.5M vs 1.3M previously.

The euro dropped versus the dollar after the terror attack in Brussels. Technically, according to the daily chart, as long as the EUR/USD is holding below the resistance at 1.1340, it is expected to drop towards 1.0800; crossing above the resistance may lead the pair to around 1.1600.

The Pound fell against the dollar after the release of disappointing U.K. inflation data. Technically, according to the daily chart, the GBP/USD is trading above the support line at 1.4125. Holding above this line may lead the GBP/USD towards 1.4650. However, breaking below the line could take the pair to around 1.3900.

UFX Daily Forex Currency Trading News 22-March-2016

Wall Street ended flat yesterday, as investors showed concerns about fully-extended share prices after a five-week rally. The Dow Jones rose by 0.12%, the S&P 500 by 0.10%, and the NASDAQ added 0.28% to its value.

The U.S. Dollar traded higher against most major currencies despite disappointing U.S. housing data, and after Federal Reserve officials hinted at a interest rate hike at the bank’s upcoming meeting in April.Today, the US Manufacturing PMI is expected at 51.6 vs 51.0 previously.

In commodities now, gold finished lower on Monday, closing at $1244 an ounce, but Crude Oil rose, closing at $41.66 a barrel. Technically, according to the daily chart, oil is holding below the resistance at $42.00. Staying under this level could lead it towards $35.00, while crossing above the resistance may take it to around $48.00.

Turning to the pairs, the euro fell versus the dollar, as the greenback continued to recover. Technically, according to the 4-hour chart, the EUR/USD is trading above the support line at 1.1220. Holding above this support may take the EUR/USD towards 1.1350, while breaking below the support could lead the pair to around 1.1000.

The Pound weakened on Monday versus the dollar, closing at 1.4366. Technically, according to the 4-hour chart, the GBP/USD is trading below the 20-day Moving Average and below the parabolic SAR indicator. Maintaining these conditions could lead the GBP/USD to around 1.4100, while breaching the Moving Average may take the pair towards 1.4600.

The Yen weakened versus the dollar in quiet trade, as no major U.S. or Japanese economic reports were released on Monday. Technically, according to the daily chart, as long as the pair is trading above the 111.00 support level, it is expected to rise to around 115.00, while breaking below this level could lead the USD/JPY towards 106.00.

UFX Daily Forex Currency Trading News 21-March-2016

We begin with the US Stock Market – Wall Street finished in the green on Friday as the major indices continued to rebound from the downturn at the start of the year. The Dow Jones rose by 0.69%, the S&P 500 by 0.44%, and the NASDAQ added 0.43% to its value. Technically, according to the 4-hour chart, as long as the Dow Jones is holding above the bullish trend line, it is expected to rise 17,850. However, breaking below the trend line could lead the index to around 17,100. Tesla shares rose by 2.81% closing at $232.50 a share.

Turning to the pairs now, the U.S. Dollar traded higher against most major currencies on Friday, recovering from five-month low as investors bought back greenbacks following an aggressive selloff earlier in the week. Today, the US Existing Home Sales report is expected at 5.32M vs 5.47M previously.

The euro fell versus the dollar ending a three-day winning streak. Technically, according to the daily chart, the EUR/USD is holding below the resistance at 1.1340. Maintaining below this resistance may take the pair towards 1.0800 while breaching above the resistance may lead it to around 1.1600.

The Pound slipped versus the dollar pulling away from a one-month peak. Technically, according to the daily chart, the pair is trading bullish near the upper band of the Bollinger Bands indicator. Maintaining this condition may continue the bullish trend towards around 1.4700. However, dropping towards the lower band may start a retracement towards 1.4050.

Finally in commodities, Gold fell on Friday, closing at $1255 an ounce. According to the 4-hour chart, gold is trading in as ascending triangle pattern. Breaking below the lower side of the pattern could lead the gold towards $1180 while crossing above the upper side may take it to around $1300.

Crude Oil dropped, closing at $39.39 a barrel. Technically, according to the Daily chart, oil is trading bullish above the 20-day Moving Average line with the RSI above the 50 level. Maintaining these conditions may lead the oil towards $48.00. However, breaking below the Moving Average line may send oil back to $30.00.

UFX Weekly Forex Currency Trading News 20-March-2016

The US Dollar had a positive day on Friday. The EUR/USD dropped by 48 pips, resulting in an exchange rate of $1.1270. The GBP/USD also dropped slightly by 6 pips, closing at $1.4476. Also slipping on Friday was the AUD/USD, with a 41 pip drop down to $0.7608.

The USD/CAD recorded a 28 pip boost, ending the week at $1.3004CAD. Taking note was the USD/JPY and a 0.14% price increase, closing at an exchange rate of ¥111.5500.

After some positive movement in recent weeks, Crude Oil slipped a bit. Barrels of Brent Oil dropped by 0.82%, closing at a $41.20 price point. Dropping under the $40 mark was West Texas Intermediate, losing 1.89%, down to $39.44 a barrel.

Friday wasn’t positive for gold either. An ounce of Gold Spot gold dropped in value by 0.20%, selling at $1,255.40. Comex Gold’s prices also slipped, dropping by 0.85%, down to $1,254.30 an ounce.

Major US indices all saw positive moment before the market closed. The DOW Jones rose in value by 0.69%, up to 17,602.30. The S&P 500 is also up, with a 0.44% rise, ending the week at a value of 2,047.58. And lastly, the NASDAQ Went up by 0.43%, closing Friday at a value of 4,795.65.

UFX Daily Forex Currency Trading News 17-March-2016

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Wall Street finished in the green after the Federal Reserve voted to maintain short-term interest rates at their current level, while cutting its forecast for future rate hikes in 2016. The Dow Jones rose by 0.43%, the S&P 500 by0.56%, and the NASDAQ added 0.75% to its value.

The U.S. Dollar traded low against most major currencies after the the Federal Reserve announcement. The Building Permits published at 1.17M vs. 1.20M, while the CPI at remained at -0.2%. Today, the Unemployment Claims is expected at 267K vs. 259K previously.

Gold rose more than 2%, closing at $1,258 an ounce.

Crude Oil rose 5.23%, closing at $38.84 a barrel.

The euro rose versus the dollar,closing at 1.1216. On the 4-hour chart, the pair is trading close to the resistance at 1.1240. Breaching the resistance may lift the pair towards 1.1350 areas, while dropping below the bullish trend line may drop it to around 1.1050. Today, the Final CPI is expected to remain at -0.2%

The Pound rose 0.62% versus the dollar, closing at 1.4251. On the 4-hour chart, the pair has breached 20-day Moving Average and is expected to breach the resistance at 1.4315. However, failing to do so may lead to a drop towards 1.4200 again.Today, the MPC Official Bank Rate Votes is expected to remain at 0-0-9, and the Official Bank Rate at 0.50%.

UFX Daily Forex Currency Trading News 16-March-2016

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Wall Street traded mixed on Tuesday (15.03.16) as consumer discretionary gains countered losses in energy shares and investors laid low ahead of the Federal Reserve’s policy meeting. The Dow Jones rose by 0.13%, the S&P 500 lost 0.18%, and the NASDAQ lost 0.45% from its value.

The U.S. Dollar finished higher against the other major currencies after the release of downbeat U.S. data. The Core Retail Sales came out better than expected at -0.1% vs -0.2% forecast and the Retail Sales at 0.1% unchanged.Today, the Federal Funds Rate is also expected unchanged at 0.50%. High volatility is expected.

Gold fell, closing at $1,232 an ounce, as the Bank of Japan left interest rates unchanged. Crude Oil dropped, closing at $36.75, as a monthly report from OPEC provided further signals of a widening gap between supply and demand.

The euro finished unchanged versus the dollar as foreign exchange traders await the the Federal Reserve’s policy statement. Technically, according to the 1-hour chart, the pair is holding below the descending trend line with a negative Momentum indicator below 0. Maintaining these conditions might start a drop to around 1.1000. However, crossing above the line may take the pair back to higher areas around 1.1250.

The Pound finished lower versus the dollar, closing at 1.4151. Technically, according to the 4-hour chart, the pair is holding below the bullish trend line. Maintaining this condition could continue the drop to around 1.4000. However, recrossing the line may lead the pair back to higher areas around 1.4300 soon.