AUD/USD

It‘s not the first time that we are talking about this great pair.  The thing about this pair that makes it so exciting is that every few weeks, days or hours this pair is breaking the previous record and moving in a uptrend. Take a look over the daily chart and you will clearly see the trend this currency is moving in. Over the last year we have seen that this pair has moved in the 2600 pips range and in a clear uptrend. Now the big question I hear everyone asking is when and will this pair will really break the record and prove this uptrend to be real and reach the highest point of 0.9400?

In order to get the feeling of the movement you will need to take a look at a few different parameters, one is the fundamental news that will come from the US and Australia that will directly affect the move and trend of this currency.  Next thing to do is keep looking over the chart and to technically analyze the trend of this pair over non fundamental days where only sentiment will effects its movement.  The combination of both will help you make the right decision when trading. Over the last few weeks the market has moved nicely for this pair, let’s go ahead and translate today’s movements to money in our pockets!

Fundamentals:  We have a few announcements today which will affect the market.

Coming from United Kingdom we have the “Services Purchasing Managers’ Index”. The previous announcement was 54.1 and the forecast for today is 54.6. (08:30 GMT).

Two more announcements are also coming in. One from the US “ISM Non-Manufacturing PMI” which will be released at 14:00 GMT, the previous announcement was 48.4 and the forecast for today is 50.  Also coming from New Zealand we have the “Business Confidence”. The previous announcement was -25. (21:00 GMT), no forecast on this one available.

NZD/USD

Let’s start analyzing this fascinating pair, earlier this week, the New Zealand dollar continued strengthening, you can clearly see it on our daily chart.

After rising by about 178 pips the New Zealand dollar moved to its highest point since the 21st of august 2008.NZD/USD has bounced from 0.1737 to previous levels close to 0.7281. Currently the pair is trading in the uptrend range between 0.7185 to 0.7281over a daily chart, it is important to note that there is a strong resistance point at 0.7310.
This pair is a wonderful pair for trend traders, we can find some opportunities by continuing to trade with this pair. Let’s convert yesterday’s movements to profits.

Resistances-0.7270-0.7310

Supports-0.7230-0.7200

Fundamentals:  We have a few announcements/meetings today which will affect the market.

Coming from U.K we have the “MPC Meeting Minutes”. (09:30 GMT) One more announcement coming in from The US “Federal Open Market Committee” which will be released at 19:15 GMT. At the same time we have Federal Open Market Committee Statement.

Fundamentals:  We have a few announcements today which will affect the market.

Coming from U.K we have the “Manufacturing Production”. The previous announcement was 0.4% and the forecast for today is 0.3%. (8:30 GMT).

One more announcement coming from Canada “Building Permits” which will be release at 12:30 GMT. The previous announcement was 1.0% and the forecast for today is 0.5%.

USD/CAD

Let’s start analyzing this fascinating couple, Earlier this week, the cad dollar continuing strengthening, you can clearly see it over a daily chart ,

After falling around 90 pips on the back of the August US unemployment report from 1.0970, USD/CAD has bounced at 1.0885 to previous levels close to 1.0980. Currently the pair is trading around 1.1050 to 1.0650 over a daily chart, it is important to note that there is a strong resistance point at 1.0825 .

this pair is a wonderful pair for scalping  traders , the pair is in  clear range, we can find some opportunities by continuing  to trade with this pair. Let’s translate yesterday movements to money

Resistances-1.0830 – 1.0895

Supports-1.0730 – 1.0680

XAU/USD

One of the most fascinating things in the forex market is the possibility to trade with commodities . Especially the black oil trade , witch so-called gold.
Over the last few days we are in a track we can find a clear volatility coming from this pair.
last time this pair had reached to the same levels as now ,was on th23 February, you can find it over the hourly chart , as we can see the pair tried several times to cross the resistance line, it’s hard to say what will happen, but it certainly seems that this direction is an uptrend.

Resistances -1030

Supports -990