Forex Videos

The US Major Indices declined as Investors keep betting whether the Federal reserve will keep Stimulus plan unchanged or reduce it. S&P 500 declined by -0.55%, Dow by -0.50% and Nasdaq by -0.58% after U.S Trade Balance came out better than expected. The US Dollar finished almost unchanged versus most majors as US Stimulus continues to baffle Investors. Good Economic data in the US led Investors to believe the Federal reserve will reduce its stimulus, helping the Dollar gain but making stocks decline. Today ISM Non manufacturing PMI is expected with 53.4 versus 53.1 and likely to influence Investors bet on Federal reserve stimulus. Gold seems unable to escape the $1,380 and $1,415 range and keeps returning to the $1,400 level. The sideways trend suggests traders should try and buy the Gold near the $1,380 support or sell near the $1,415 resistance level. Crude Oil gained by 0.4% on better growth expectations in the U.S. Technically Crude Oil has just touched the upper Bollinger band and is likely to decline towards the lower band at $91.50 a barrel. The Euro finished unchanged versus the US Dollar as Spanish Unemployment change came out stronger than expected. EUR/USD is bullish above the 1.30 level and is trading in an Ascending channel according to the 1 hour chart. The Euro seems to consolidate towards 1.31 and will likely cross above that level. The Pound finished unchanged versus the US Dollar as better than expected Construction data in the UK was nOt enough to push the Pound higher. Construction PMI came out with 50.8 stronger than 49.7 expected showing expansion in construction. Technically GBP/USD is trading in an Ascending channel according to the 1 hour chart. The trend remains bullish as long as the pair remains above the 1.52 support level.