Daily Technical Analysis by ACFX

[johnathan]

EUR/USD The Euro gapped up earlier today in Asian session opened at 1.3308, 70 pips higher from Friday’s close.

Gold gained more than 1 percent to above $1,700 an ounce on Monday as the euro rose on hopes Europe will take a bolder step to resolve a crippling debt crisis.

[johnathan]

EUR/USD The dollar fell against 14 of its 16 major counterparts as advancing stocks damped demand for safer assets.
The U.S. currency dropped 0.2 percent to $1.3349 per euro as of 1:50 p.m. Tokyo time from the closing level in New York yesterday.

USD/JPY The yen fell against all its major peers as Asian stocks rallied a second day and on prospects Japanese policy makers will do more to stem currency gains..
The yen slid 0.3 percent to 78.19 per dollar as of 10:40 a.m. in Tokyo and reached 78.29, the weakest level since Nov. 2.

Oil pared its earlier decline in New York..
Crude for January delivery was at $98.13 a barrel, down 8 cents, in electronic trading on the New York Mercantile Exchange at 5:20 p.m. Sydney time, after earlier sliding as much as 1 percent.

[johnathan]

eur/usd
GBP/USD
USD/JPY
EUR/USD The euro was little changed at $1.3317 at 5 p.m. New York time, after earlier gaining to as high as $1.3442, the strongest level since Nov. 23.
AUD/USD The so-called Aussie traded at $1.0033 as of 11:32 a.m. in Sydney, from $1.0022 before the data.
USD/CAD Canada’s currency, also known as the loonie for the image of the aquatic bird on the C$1 coin, gained 0.2 percent to C$1.0321 per U.S. dollar by 5 p.m. in Toronto.

[johnathan]

EUR/USD The euro gained the most in a month against the dollar after the Federal Reserve and five other central banks acted to make more funds available to lenders as Europe’s debt crisis threatens global economic growth.
The euro strengthened 1 percent to $1.3446 at 5 p.m. in New York and reached $1.3533, the strongest level since Nov. 22.
USD/JPY The yen weakened against 14 of its 16 most-traded counterparts as Asian stocks extended a global equity rally, curbing demand for haven assets.
Yen was at 77.68 per dollar from 77.62.
USD/CAD The Canadian currency rose the most since May 2010 as central banks including the Bank of Canada reduced the cost of emergency dollar funding toto The loonie appreciated 1.4 percent to C$1.0174 per U.S. dollar at 5 p.m. Toronto

http://a8.sphotos.ak.fbcdn.net/hphot...23866918_n.jpg

[johnathan]

EUR/USD

GBP/USD

USD/JPY
EUR/USD The euro pared gains versus the dollar and yen as concern increased that European leaders will struggle to resolve the region’s debt crisis even after central banks moved to ease dollar borrowing for banks.
The euro appreciated 0.1 percent to $1.3461 at 5 p.m. in New York after surging as much as 1.6 percent yesterday, the most on an intraday basis since Oct. 27.
NZD/USD New Zealand dollar set for a weekly gain against most major peers before U.S. data forecast to show employers added workers at a faster pace, boosting demand for higher-yielding assets..
New Zealand’s dollar bought 78 U.S. cents from 77.94, rising 5.3 percent since Nov. 25.
AUD/USD Australia’s dollar fell from almost a two-week high versus its U.S. counterpart after government reports showed consumer spending slowed and building approvals dropped.
Australia’s dollar fell 0.7 percent to $1.0213 at 12:21 p.m. in New York

[johnathan]

Important Financial Indicators of the day
Forecast Previous
GBP 09:30 (GMT) Services PMI 50.6% 51.3%
USD 15:00 (GMT) ISM Non-Manufacturing PMI 53.6 52.9
Currencies
EUR/USD The euro gained against most major peers as Italy advanced a plan to cut its deficit before a European summit on the region’s sovereign-debt crisis.
The euro rose 0.1 percent to $1.3404 at 2:05 p.m. in Tokyo from $1.3391 on Dec. 2, when it completed a 1.2 percent weekly advance.
AUD/USD The Australian dollar erased gains against the U.S. currency
The so-called Aussie traded at $1.0211 as of 3:40 p.m. in Sydney from $1.0215 last week.
USD/CAD Canada’s dollar staged its biggest five-day rally since October after central banks including the Bank of Canada took steps this week to make it cheaper for lenders to borrow dollars during emergencies.
The loonie, as the currency is also known for the image of the aquatic bird on the C$1 coin, gained 2.6 percent this week to C$1.0195 per U.S. dollar in Toronto.
Commodities
Gold prices traded steady on Monday, after posting their sharpest weekly rise in more than a month, as the euro zone kicks off a week packed with meetings and decisions crucial to the solution to its debt crisis as well as the euro.
Spot gold was little changed at $1,747.29 an ounce by 0326 GMT, after rising nearly 4 per cent in the previous week.
Oil rose for a second day in New York on concern that tension in the Middle East threatens supplies and speculation that Europe will take steps to tame a debt crisis that may curb economic growth.
Crude for January delivery climbed as much as 77 cents, or 0.8 percent, to $101.73 a barrel in electronic trading on the New York.

[johnathan]

Important Financial Indicators of the day
Forecast Previous
CAD 13:30 (GMT) Building Permits 2.3% -4.9%
CAD 14:00 (GMT) Overnight Rate 1.00% 1.00%
CAD 15:00 (GMT) Ivey PMI 55.2 54.4
Currencies
• EUR/USD The euro fell for a third day after S&P’s announcement, which put European nations including the six AAA-rated countries on watch for potential downgrades pending the outcome of a Dec. 8-9 leaders summit.
o The 17-nation currency declined 0.3 percent to $1.3367 at 12:47 p.m. in Tokyo.
• GBP/USD The pound strengthened against the dollar, snapping a two-day decline, as optimism that euro-area leaders are acting to ease the region’s debt crisis spurred demand for higher-yielding assets.
o The pound was 0.6 percent stronger at $1.5687 at 4:32 p.m. London time.
• AUD/USD The Australian dollar weakened after the Reserve Bank of Australia reduced its key cash rate target by 25 basis points to 4.25 percent.
o The so-called Aussie slid 0.6 percent to $1.0213 as of 2:32 p.m. in Sydney.
Commodities
• US gold fell on Tuesday, tracking spot prices lower on fears of a possible mass credit rating downgrade for euro zone nations by Standard & Poor's.
o Gold shed 1.1 percent to $1,714.80.
• Oil dropped from the highest in almost three weeks in New York as investors speculated that fuel demand will falter amid signs Europe is struggling to tame its sovereign debt crisis.
o Crude for January delivery fell as much as 61 cents to $100.38 a barrel in electronic trading on the New York Mercantile Exchange.

[johnathan]

December 7th, 2011 Important Financial Indicators of the day
Forecast Previous
GBP 09:30 (GMT) Manufacturing production m/m
-0.1% 0.2%
NZD 20:00 (GMT) Official Cash Rate
2.50% 2.50%

Currencies
• EUR/USD The euro rose against the majority of its 16 main counterparts amid speculation Europe will expand funds available to the region’s most-indebted nations as leaders prepare to meet in Brussels tomorrow.
oThe euro rose 0.3 percent to $1.3445 at 7 a.m. London time.
•USD/CHF The Swiss franc weakened after a report showed consumer prices fell in November, increasing speculation the country’s central bank will lower the ceiling on the currency’s exchange rate.
oIt weakened 0.8 percent to 92.77 centimes per dollar.
•USD/CAD Canada’s dollar rose for a second day after Bank of Canada policy makers said growth in the domestic and U.S. economy is stronger than forecast, easing speculation the central bank would signal further monetary easing.
o Canada’s currency appreciated 0.6 percent to C$1.0100 per U.S. dollar at 5 p.m. in Toronto.
Commodities

•Gold may gain after exchange-traded product holdings climbed to a record, and speculation that European leaders are making progress in containing the debt crisis boosted the euro and equities.
oImmediate-delivery gold was little changed at $1,729.68 an ounce at 11:20 a.m. in Singapore after rising 0.3 percent yesterday.
•Oil rose for a fourth day in New York on concern global supplies of crude will shrink after the European Union signaled it may ban imports from Iran and U.S. stockpiles declined.
oCrude for January delivery rose as much as 37 cents to $101.65 a barrel and was at $101.60 in electronic trading on the New York Mercantile Exchange at 3:45 p.m.

[falah]

johnathan are you trading in forex ???

and if you dont mind I want to ask some Q

[johnathan]

December 8th, 2011

Important Financial Indicators of the day
Forecast Previous
GBP 12:00 (GMT) Official Bank Rate 0.50% 0.50%
EUR 12:45 (GMT) Minimum Bid Rate 1.00% 1.25%
CAD 13:15 (GMT) Housing Starts 0.3% 0.2%
EUR 13:30 (GMT) ECB Press Conference
USD 13:30 ( GMT) Unemployment Claims 397k 402k
Currencies
EUR/USD The euro rose against the dollar, after erasing earlier losses, as optimism increased that European leaders will be able to agree on measures to help solve the region’s debt crisis.
The euro rose 0.1 percent to $1.3412 at 5 p.m. in New York after falling as much as 0.4 percent.
USD/JPY The yen and dollar rose against most major peers as Asian stocks declined amid signs of a slowdown in the region’s economies, boosting demand for refuge currencies.
The pair was little changed yesterday at 77.65 per dollar.
USD/CHF The Swiss franc weakened to within one centime of an eight-month low against the dollar after a lawmaker said a government panel is considering using negative interest rates to combat the currency’s appreciation.
The franc was little changed at 92.49 per dollar at 4:01 p.m. London time after earlier depreciating to 92.88 centimes.
Commodities
Gold declined after holdings in exchange-traded products fell from a record and the European Central Bank was seen cutting interest rates today ahead of a regional leaders’ summit intended to tackle the debt crisis.
Immediate-delivery gold fell for the first day in three, losing as much as 0.3 percent to $1,736.43 an ounce and trading at $1,738.02 at 11:30 a.m. in Singapore..
Oil traded near a one-week low after a gain in inventories indicated demand is recovering more slowly than projected in the U.S., the world’s biggest crude consumer.
Crude for January delivery was at $100.61 a barrel, up 12 cents, in electronic trading on the New York Mercantile Exchange at 1:25 p.m. in Singapore. It fell 0.8 percent yesterday to $100.49, the lowest settlement since Dec. 1.