Daily Forex Update(Mar 31 2008)

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FOREX Daily Outlook by Easy-Forex.com

US Share markets fall on credit concerns, as Michigan Sentiment falls to 16 year low.

CURRENCY TRADING SUMMARY – 31 MARCH 2008 (00:30GMT)

· U.S. Dollar Trading (USD) gave up its daily gains against a number of majors initially buoyed by Core PCE figures for the month of February which were inline with expectations rising by 2.0% for the y/y figures, whilst the monthly figure increased by 0.5% above forecasts of 0.3%. In other news the Michigan sentiment survey for the month March fell to 69.5, its lowest reading in 16 years. In U.S. share markets the NASDAQ was down by -19.65 points (-0.86%) whilst the Dow Jones was also lower by -86.06 points (-0.7%). Financials once again weighed heavy on stock markets with news of Citigroup poised for a second dividend cut. Crude oil also fell on the back of an increase in supply from Iraq’s Basra export terminal. Crude fell by US$2.63 a barrel to US$104.95. Looking ahead, Chicago PMI figures are made public on Monday with figures forecasted to come in at 46.5 for the month March, higher then the previous 44.5.

· The Euro (EURO) paired its gains largely on profit taking ahead of the weekend. In what was a quiet day on the data front, the Euro tracked other currencies to trade with a low of 1.5742 and a high of 1.5840 before closing the day at 1.5803 in the New York session. A data filled day kicks off the week in the Eurozone with Consumer Confidence (Forecast: -12; Previous: -12), CPI estimate (Forecast: 3.3%; Previous: 3.3%), and Business Climate (Forecast: 0.7%; Previous: 0.72%)

· The Japanese Yen (JPY) had a mixed data on Friday with the Unemployment rate jumping to 3.9% whilst Household spending figures were flat at 2.4% for the month of February. On a positive note, CPI figures though were higher at 1.0% (fastest pace in a decade) as Retail Sales figures were also strong at 1.3%, with growing views that the BoJ will not move until the second half of 2008. Naturally with falling stock prices during the U.S. session, the USDJPY failed to sustain its daily gains trading with a low of 99.11 and a high of 100.40 before closing the day at 99.19 in the New York session.

· The Sterling (GBP) fell on the London open as March house prices declined by -0.6% worse then the expected -0.3%. Whilst GDP figures were in line with expectations, confirmed at 0.6% for the fourth quarter. Overall the GBPUSD traded with a low of 1.9883 and a high of 2.0090 before closing the day at 1.9932 in the New York session. Looking ahead, BoE Governor King is scheduled to speak on Monday.

· The Australian Dollar (AUD) fell on reports emanating out of the US that further large banks will be hampered in light of the credit crisis. As a high yielding currency, a fall in stock prices hampered the AUD ensuring it fell from day highs. Overall the AUDUSD traded with a low of 0.9153 and a high of 0.9253 before closing the day at 0.9176 in the New York session. Looking ahead, the RBA begin there two day meeting today with a decision due tomorrow.

· Gold (XAU) fell over $25 per ounce as oil prices also declined. XAU traded with a low of 924.00 and a high of 950.50

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.5408	1.5584	1.5785	1.5833	1.5904
USD/JPY	98.46	98.89	99.15	100.33	101.04
GBP/USD	1.9849	1.9927	1.9935	2.0111	2.0145
AUD/USD	0.9073	0.9122	0.9155	0.9243	0.9290
XAU/USD	912.02	934.80	928.10	952.00	954.03

· Euro – 1.5785

Initial support at 1.5584 (Mar 26 low) followed by 1.5408 (Mar 25 low). Initial resistance is now located at 1.5833 (Mar 18 high) followed by 1.5904 (Mar 17 low).

· Yen – 99.15

Initial support is located at 98.89 (Mar 26 low) followed by 98.46 (Mar 20 low). Initial resistance is now at 100.33 (Mar 26 high) followed by 101.04 (Mar 25 high)

· Pound – 1.9935

Initial support at 1.9927 (Mar 26 low) followed by 1.9849 (Mar 25 low). Initial resistance is now at 2.0111 (Mar 26 high) followed by 2.0145 (61.8% retracement of the 2.0398 to 1.9737)

· Australian Dollar – 0.9155

Initial support a 0.9122 (Mar 26 low) followed by 0.9073 (Mar 25 low). Initial resistance is now at 0.9243 (Mar 26 high) followed by 0.9290 (61.8% retracement of the 0.9499 to 0.8953 decline)

· Gold – 928.10

Initial support at 934.80 (Mar 26 low) followed by 912.02 (Mar 25 low). Initial resistance is now at 952.0 (Mar 26 high) followed by 954.03 (38.2% retracement of the 1032.50 to 905.03 decline)

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Daily Forex Update(Mar 28 2008)

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FOREX Daily Outlook by Easy-Forex.com

US GDP on expectations ahead of PCE data release.

CURRENCY TRADING SUMMARY – 28 MARCH 2008 (00:30GMT)

· U.S. Dollar Trading (USD) was firm against a number of majors on the back of a string positive economic data. GDP figures were confirmed at 0.6% for the fourth quarter with an upward revision of consumption to 2.3% from the previous 1.9%. In U.S. share markets the NASDAQ was down 43 pts (-1.9%) whilst the Dow Jones was also down 120 pts (-1.0%). Crude oil rose further by US$1.68 a barrel to US$107.58 following an attack on a fuel pipeline in Southern Iraq. Looking ahead out of the U.S. the Michigan Sentiment survey for the month of March is expected to come in at 70 previous at 70.8. PCE figures for the month of February are also expected to generate plenty of interest.

· The Euro (EURO) was range bound for much of the day with data out of the US largely as expected. Overall the EURUSD traded with a low of 1.5727 and a high of 1.5848 before closing the day at 1.5778 in the New York session.

· The Japanese Yen (JPY) rose for the first time in four days against the Euro on speculation Japanese investors are selling overseas assets and bringing funds home as credit-market losses spread. Overall the USDJPY traded with a low of 98.57 and a high of 100.16 before closing the day at 99.82 in the New York session.

· The Sterling (GBP) had a sharp rally during the day with the GBPUSD trading with a low of 2.0029 and a high of 2.0192 before closing the day at 2.0038 in the New York session.

· The Australian Dollar (AUD) trade technically, hovering around the key 92 cent levels. Overall the AUDUSD traded with a low of 0.9206 and a high of 0.9240 before closing the day at 0.9206 in the New York session.

· Gold (XAU) continues to drift sideways trading with a low of 940.95 and a high of 954.50

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.5408	1.5584	1.5790	1.5833	1.5904
USD/JPY	98.46	98.89	99.40	100.33	101.04
GBP/USD	1.9849	1.9927	2.0070	2.0111	2.0145
AUD/USD	0.9073	0.9122	0.9195	0.9243	0.9290
XAU/USD	912.02	934.80	946.00	952.00	954.03

· Euro – 1.5790

Initial support at 1.5584 (Mar 26 low) followed by 1.5408 (Mar 25 low). Initial resistance is now located at 1.5833 (Mar 18 high) followed by 1.5904 (Mar 17 low).

· Yen – 99.40

Initial support is located at 98.89 (Mar 26 low) followed by 98.46 (Mar 20 low). Initial resistance is now at 100.33 (Mar 26 high) followed by 101.04 (Mar 25 high)

· Pound – 2.0070

Initial support at 1.9927 (Mar 26 low) followed by 1.9849 (Mar 25 low). Initial resistance is now at 2.0111 (Mar 26 high) followed by 2.0145 (61.8% retracement of the 2.0398 to 1.9737)

· Australian Dollar – 0.9195

Initial support a 0.9122 (Mar 26 low) followed by 0.9073 (Mar 25 low). Initial resistance is now at 0.9243 (Mar 26 high) followed by 0.9290 (61.8% retracement of the 0.9499 to 0.8953 decline)

· Gold – 946.00

Initial support at 934.80 (Mar 26 low) followed by 912.02 (Mar 25 low). Initial resistance is now at 952.0 (Mar 26 high) followed by 954.03 (38.2% retracement of the 1032.50 to 905.03 decline)

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Daily Forex Update(Mar 27 2008)

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FOREX Daily Outlook by Easy-Forex.com

German IFO props up the Euro, as US New home sales declined to a 13 month low.

CURRENCY TRADING SUMMARY – 27 MARCH 2008 (00:30GMT)

· U.S. Dollar Trading (USD) fell as New Home Sales (Feb) fell for the fourth straight month by 1.8% to a 13 year low as the housing slump continued. In other data, Durable Goods for the month of February declined by -1.7% below expectations. In U.S. share markets the NASDAQ was down 16 pts (-0.71%) whilst the Dow Jones was also lower by 109 pts (-0.88%). Crude Oil spiked by US$4.68 a barrel to US$105.90 on fears of declining oil productions. Fourth quarter GDP figures are expected to come in at 0.6% as previous.

· The Euro (EURO) surged higher on poor US data, and further boosted by strong reading in the German IFO index, as businesses sentiment in the Europe largest economy continued to grow in confidence. In other news, ECB president maintained the banks view on fighting inflationary pressures as their number one agenda. Overall the EURUSD traded with a low of 1.5587 and a high of 1.5833 before closing the day at 1.5832 in the New York session. Gfk Consumer Confidence for the month of April is scheduled for release on Thursday.

· The Japanese Yen (JPY) traded below the key 99.00 once again as export growth unexpectedly accelerated in February as demand from emerging markets helped automakers ride out the U.S. slump. Overall the USDJPY traded with a low of 98.90 and a high of 100.32 before closing the day at 99.32 in the New York session. BoJ member Suda is scheduled to speak at 01:30 GMT on Thursday.

· The Sterling (GBP) was volatile as U.K.'s Financial Services Authority is rumored to be increasing its scrutiny of the country's financial institutions following the collapse of mortgage lender Northern Rock Plc. Overall the GBPUSD traded with a low of 1.9928 and a high of 2.0111 before closing the day at 2.0074 in the New York session.

· The Australian Dollar (AUD) also continued its recent rally on a broadly weaker dollar, and a boost in commodities. Overall the AUDUSD traded with a low of 0.9123 and a high of 0.9241 before closing the day at 0.9195 in the New York session.

· Gold (XAU) rallied for a second session Wednesday after the dollar sank and crude oil prices spiked, inflationary signs that pointed investors to the relative safety of precious metals. XAU traded with a low of 935.00 and a high of 951.60.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.5408	1.5584	1.5820	1.5833	1.5904
USD/JPY	98.46	98.89	99.15	100.33	101.04
GBP/USD	1.9849	1.9927	2.0070	2.0111	2.0145
AUD/USD	0.9073	0.9122	0.9195	0.9243	0.9290
XAU/USD	912.02	934.80	953.50	952.00	954.03

· Euro – 1.5820

Initial support at 1.5584 (Mar 26 low) followed by 1.5408 (Mar 25 low). Initial resistance is now located at 1.5833 (Mar 18 high) followed by 1.5904 (Mar 17 low).

· Yen – 99.15

Initial support is located at 98.89 (Mar 26 low) followed by 98.46 (Mar 20 low). Initial resistance is now at 100.33 (Mar 26 high) followed by 101.04 (Mar 25 high)

· Pound – 2.0070

Initial support at 1.9927 (Mar 26 low) followed by 1.9849 (Mar 25 low). Initial resistance is now at 2.0111 (Mar 26 high) followed by 2.0145 (61.8% retracement of the 2.0398 to 1.9737)

· Australian Dollar – 0.9195

Initial support a 0.9122 (Mar 26 low) followed by 0.9073 (Mar 25 low). Initial resistance is now at 0.9243 (Mar 26 high) followed by 0.9290 (61.8% retracement of the 0.9499 to 0.8953 decline)

· Gold – 953.50

Initial support at 934.80 (Mar 26 low) followed by 912.02 (Mar 25 low). Initial resistance is now at 952.0 (Mar 26 high) followed by 954.03 (38.2% retracement of the 1032.50 to 905.03 decline)

Forex trading involves substantial risk of loss, and may not be suitable for everyone.

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Daily Forex Update(Mar 26 2008)

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FOREX Daily Outlook by Easy-Forex.com

Dollar falls on Poor Consumer Confidence. New Home Sales and German IFO key

CURRENCY TRADING SUMMARY – 26 MARCH 2008 (00:30GMT)

· U.S. Dollar Trading (USD) saw second tier data in the form of Consumer Confidence for the month of March decline to its lowest level in five years in retrospect of recent woes and fears that the economy had fallen into a recession. As a result, the USD traded lower against a number of majors upon the data release. In U.S. share markets the NASDAQ was up slightly 1.50 points (+0.08%) whilst the Dow Jones down 16 points (-0.13%). Crude oil rose by US$0.36 a barrel to US$101.22 following reports of a workers strike in Gabon, which had halted 60,000 barrels of output. Looking ahead key data out of the U.S. will include Durable Goods for the month of February, in which economists expect the figures to come in at 0.8%, above previous figures of -5.3%. Other data includes that of New Home sales also for the month of February which is forecasted to show a rise of 580k (Previous: 588k).

· The Euro (EURO) saw the European Central Bank respond to continued liquidity strains by injecting funds into the European banking system as part of global effort to lift market confidence. The Central bank allotted 216 billion Euros in its weekly refinancing operation. Overall the EURUSD traded with a low of 1.5405 and a high of 1.5607 before closing the day at 1.5596 in the New York session. Data out of the EU on Wednesday will include the German IFO whilst ECB President Trichet is also scheduled to talk.

· The Japanese Yen (JPY) Nikkei index in Tokyo gained 2.1% after JP Morgan raised its bid for Bear Stearns soothed market jitters, as the Japanese Yen slipped back on the currency markets, reaching 101.03. However the dollar failed to maintain any gains on poor consumer confidence during the US session. Overall the USDJPY traded with a low of 99.63 and a high of 101.03 before closing the day at 100.31 in the New York session. UPDATE: Japanese Trade Balance for Feb seen at 970 bln (Forecast: 1146.4 bln; Prior: -79.3 bln)

· The Sterling (GBP) tracked other majors breaking key $2 levels. Overall the GBPUSD traded with a low of 1.9850 and a high of 2.0005 before closing the day at 1.9995 in the New York session.

· The Australian Dollar (AUD) also edged higher on rebounding stocks and commodities. Overall the AUDUSD traded with a low of 0.9070 and a high of 0.9170 before closing the day at 0.9160 in the New York session.

· Gold (XAU) continued its three day rebound on Tuesday. XAU traded with a low of 912.30 and a high of 936.00.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.5342	1.5408	1.5610	1.5647	1.5689
USD/JPY	99.01	99.33	100.10	101.04	101.69
GBP/USD	1.9737	1.9849	2.0025	2.0027	2.0068
AUD/USD	0.8879	0.9076	0.9165	0.9172	0.9226
XAU/USD	906.93	912.02	939.00	939.47	954.03

· Euro – 1.5610

Initial support at 1.5408 (Mar 25 low) followed by 1.5342 (Mar 24 low & 38.2% retracement of the 1.5904 to 1.5342 decline). Initial resistance is now located at 1.5647 (Mar 20 high) followed by 1.5689 (61.8% retracement of the 1.5904 to 1.5342 decline).

· Yen – 100.10

Initial support is located at 99.33 (Mar 24 low) followed by 99.01 (Mar 21 low). Initial resistance is now at 101.04 (Mar 25 high) followed by 101.69 (Mar 13 high)

· Pound – 2.0025

Initial support at 1.9849 (Mar 25 low) followed by 1.9737 (Mar 20 low). Initial resistance is now at 2.0027 (Mar 25 high) followed by 2.0068 (50% retracement of the 2.0398 to 1.9737)

· Australian Dollar – 0.9165

Initial support a 0.9076 (Mar 25 low) followed by 0.8879 (Mar 24 low). Initial resistance is now at 0.9172 (Mar 17 high) followed by 0.9226 (50% retracement of the 0.9499 to 0.8953 decline)

· Gold – 939.00

Initial support at 912.02 (Mar 25 low) followed by 906.93 (Mar 24 low). Initial resistance is now at 939.40 (Mar 25 high) followed by 954.03 (38.2% retracement of the 1032.50 to 905.03 decline)

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Daily Forex Update(Mar 25 2008)

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FOREX Daily Outlook by Easy-Forex.com

Existing Home Sales in the US at seven month highs as JP Morgan to upgrade it bid

CURRENCY TRADING SUMMARY – 25 MARCH 2008 (00:30GMT)

· U.S. Dollar Trading (USD) was mixed versus all other majors in a light start to the week. With a majority of markets remaining closed due to Easter Monday holidays, the US returned from a long weekend in which Existing Home Sales were made public. The figures for the month of February were well above expectations, coming in at 5.03 mln (Forecast: 4.85 mln; Prior: 4.89 mln), the strongest release in seven months. In other news, the much publicized buy out of Bear Stearns gained in momentum yesterday, with reports that JP Morgan were looking to upgrade their bid to $10 a share. In U.S. share markets the NASDAQ was up 142.05 points (+1.63%) whilst the Dow Jones also rallied by 187.32 points (+1.52%). Crude oil fell by US$0.98 a barrel to US$100.86 on extended commodity declines.

· The Euro (EURO) was subject to a quiet session falling on positive housing data out of the U.S. Overall the EURUSD traded with a low of 1.5343 and a high of 1.5456 before closing the day at 1.5418 in the New York session.

· The Japanese Yen (JPY) eased against the dollar to trade above the 100.00 level once again, setting a fresh weekly high. Overall the USDJPY traded with a low of 99.39 and a high of 100.90 before closing the day at 100.80 in the New York session.

· The Sterling (GBP) also traded on the back of other markets in thin holiday trading. Overall the GBPUSD traded with a low of 1.9761 and a high of 1.9876 before closing the day at 1.9842 in the New York session.

· The Australian Dollar (AUD) rebounded from levels below 90 cents on rebounding U.S. stocks. Overall the AUDUSD traded with a low of 0.8980 and high of 0.9083 before closing the day at 0.9060 in the New York session.

· Gold (XAU) stabilized in the wake of last week's corrective retreat, after downticks stalled ahead of the $900 level. XAU traded with a low of 907.30 and a high of 926.30 in the New York session.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.5345	1.5523	1.5435	1.5832	1.5904
USD/JPY	96.86	97.68	100.75	100.45	101.16
GBP/USD	1.9722	1.9875	1.9875	2.0152	2.0275
AUD/USD	0.9122	0.9128	0.9095	0.9449	0.9473
XAU/USD	900.00	907.00	917.60	1012.33	1032.50

· Euro – 1.5410

Initial support at 1.5613 (Mar 19 low) followed by 1.5523 (Mar 13 low). Initial resistance is now located at 1.5832 (Mar 18 high) followed by 1.5904 (Mar 17 trend high).

· Yen – 99.70

Initial support is located at 97.68 (Mar 19 low) followed by 96.86 (Mar 18 low). Initial resistance is now at 100.45 (Mar 19 high) followed by 101.16 (Mar 14 high)

· Pound – 1.9790

Initial support at 1.9875 (Former resistance Feb 27) followed by 1.9722 (Mar 5 low). Initial resistance is now at 2.0152 (Mar 19 high) followed by 2.0275 (Mar 18 high)

· Australian Dollar – 0.8995

Initial support a 0.9167 (Mar 18 low) followed by 0.9128 (Mar 17 low). Initial resistance is now at 0.9449 (Mar 17 high) followed by 0.9473 (Mar 13 high)

· Gold – 916.00

Initial support at 938.55 (Mar 19 low) followed by 900 (Psychological round number). Initial resistance is now at 1012.33 (Mar 18 high) followed by 1032.5 (Mar 17 high)

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Daily Forex Update(Mar 24 2008)

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FOREX Daily Outlook by Easy-Forex.com

Good Friday slows down volatility. Existing Home Sales kick start the week

CURRENCY TRADING SUMMARY – 24 MARCH 2008 (00:30GMT)

· U.S. Dollar Trading (USD) market closure due to Good Friday holidays ensured thin volumes of trading in light of recent volatility. All financial markets were closed on the 21^st of March; ensuring stock remained unchanged from Thursday’s close. Crude oil fell slightly on Friday, in follow through from recent commodity sell offs, falling by US$0.81 a barrel to US$101.03. Trading is scheduled to resume on Monday, with data including Existing Home Sales for the month of February. Economists are forecasted that the figures will decline from 4.89 mln to 4.85 mln.

· The Euro (EURO) was also subject to a quiet day to market holidays, instead finding interest from Asian markets and currencies. Overall the EURUSD traded with a low of 1.5405 and a high of 1.5472 before losing the day at 1.5446. Markets remain closed on Monday for Easter Monday.

· The Japanese Yen (JPY) was the only major market open on Friday as the Japanese Yen traded sideways tracking stock prices. Overall the USDJPY traded with a low of 99.03 and a high of 99.74 before closing the day at 99.33.

· The Sterling (GBP) was also subject to thin trading due to market holidays. The Sterling Pound traded within a tight range of 50 points with a low of 1.9819 and a high of 1.9865 before closing the day at 1.9833. Easter Monday: Markets Closed

· The Australian Dollar (AUD) also traded in thin volumes on Friday with markets being closed. Overall the AUDUSD traded with a low of 0.8990 and a high of 0.9028 before closing the day at 0.9014. Easter Monday: Markets Closed

· Gold (XAU) found support in the early part of the Asian session of trade with bargain hunters taking advantage of it two day tumble. XAU traded with a low of 911.00 and a high of 919.90 before closing the day at 919.10.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.5345	1.5523	1.5410	1.5832	1.5904
USD/JPY	96.86	97.68	99.70	100.45	101.16
GBP/USD	1.9722	1.9875	1.9790	2.0152	2.0275
AUD/USD	0.9122	0.9128	0.8995	0.9449	0.9473
XAU/USD	900.00	938.55	916.00	1012.33	1032.50

· Euro – 1.5410

Initial support at 1.5613 (Mar 19 low) followed by 1.5523 (Mar 13 low). Initial resistance is now located at 1.5832 (Mar 18 high) followed by 1.5904 (Mar 17 trend high).

· Yen – 99.70

Initial support is located at 97.68 (Mar 19 low) followed by 96.86 (Mar 18 low). Initial resistance is now at 100.45 (Mar 19 high) followed by 101.16 (Mar 14 high)

· Pound – 1.9790

Initial support at 1.9875 (Former resistance Feb 27) followed by 1.9722 (Mar 5 low). Initial resistance is now at 2.0152 (Mar 19 high) followed by 2.0275 (Mar 18 high)

· Australian Dollar – 0.8995

Initial support a 0.9167 (Mar 18 low) followed by 0.9128 (Mar 17 low). Initial resistance is now at 0.9449 (Mar 17 high) followed by 0.9473 (Mar 13 high)

· Gold – 916.00

Initial support at 938.55 (Mar 19 low) followed by 900 (Psychological round number). Initial resistance is now at 1012.33 (Mar 18 high) followed by 1032.5 (Mar 17 high)

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Daily Forex Update(Mar 21 2008)

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FOREX Daily Outlook by Easy-Forex.com

Gold continues to be sold off to set its largest weekly decline in 25 years.

CURRENCY TRADING SUMMARY – 21 MARCH 2008 (00:30GMT)

· U.S. Dollar Trading (USD) continued its rebound on Thursday in light of liquidation in long commodities, which attributed to much of the dollar demand. Data from the U.S. saw the Philly Fed survey improve more than expected coming in at -17.4 for the month of March. In U.S. share markets, the NASDAQ finished higher by 48.15 points (+2.18%) whilst the Dow Jones also rallied, up 261.66 points (+2.16%). Crude oil fell below the US$100 since the 5^th of March, before rebounding to end at US$101.44 a barrel. Financial Markets will be closed for Good Friday on the 21^st of March.

· The Euro (EURO) tumbled on Thursday to extend its decline from 1.5903 record highs reached on the 17^th of March, and fell to 151.70 its lowest level since August 2007 against the Japanese Yen. In data news, PMI data was mixed, with manufacturing slightly higher then expectations whilst services were just below. Overall the EURUSD traded with a low of 1.5396 and a high of 1.5650 before closing the day at 1.5435 in the New York session. Good Friday: Markets closed

· The Japanese Yen (JPY) had markets closed for vernal equinox day, although long carry trade positions continued to be unwound ensuring the JPY rallied against the Euro. Overall the USDJPY traded with a low of 98.46 and a high of 100.21 before closing the day at 98.70 in the New York session.

· The Sterling (GBP) was the best performed currencies against a surging greenback, closing slightly higher from its previous session sell off. The British Pound was supported by UK Retail Sales rising 1% for the month of February. The GBPUSD traded with a low of 1.9738 and a high of 1.9878 before closing the session at 1.9838 in New York. Good Friday: Markets Closed

· The Australian Dollar (AUD) was pressured throughout the day as commodities plunged. Overall the AUDUSD traded with a low of 0.8956 and a high of 0.9167 before closing the day at 0.8987 in the New York session. Good Friday: Markets Closed

· Gold (XAU) headed for its biggest weekly drop in 25 years, falling from a record $1,032.70 an ounce on March 17, to trade with a low of 905.40 on March 20.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.5345	1.5523	1.5415	1.5832	1.5904
USD/JPY	96.86	97.68	99.45	100.45	101.16
GBP/USD	1.9722	1.9875	1.9845	2.0152	2.0275
AUD/USD	0.9122	0.9128	0.9005	0.9449	0.9473
XAU/USD	900.00	938.55	920.00	1012.33	1032.50

· Euro – 1.5415

Initial support at 1.5613 (Mar 19 low) followed by 1.5523 (Mar 13 low). Initial resistance is now located at 1.5832 (Mar 18 high) followed by 1.5904 (Mar 17 trend high).

· Yen – 99.45

Initial support is located at 97.68 (Mar 19 low) followed by 96.86 (Mar 18 low). Initial resistance is now at 100.45 (Mar 19 high) followed by 101.16 (Mar 14 high)

· Pound – 1.9845

Initial support at 1.9875 (Former resistance Feb 27) followed by 1.9722 (Mar 5 low). Initial resistance is now at 2.0152 (Mar 19 high) followed by 2.0275 (Mar 18 high)

· Australian Dollar – 0.9005

Initial support a 0.9167 (Mar 18 low) followed by 0.9128 (Mar 17 low). Initial resistance is now at 0.9449 (Mar 17 high) followed by 0.9473 (Mar 13 high)

· Gold – 920.00

Initial support at 938.55 (Mar 19 low) followed by 900 (Psychological round number). Initial resistance is now at 1012.33 (Mar 18 high) followed by 1032.5 (Mar 17 high)

Forex trading involves substantial risk of loss, and may not be suitable for everyone.

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Daily Forex Update(Mar 20 2008)

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FOREX Daily Outlook by Easy-Forex.com

Profit taking enters markets. Gold drops the most in one day. USD rebounds

CURRENCY TRADING SUMMARY – 20 MARCH 2008 (00:30GMT)

· U.S. Dollar Trading (USD) rebounded sharply against the majors despite a sell-off in US equities. Reports of hedge funds actively trading commodities and currencies had an impact. Morgan Stanley posted earnings beating the street’s estimate by a sizeable margin, adding to the positive earnings releases from financial institutions thus far this week. The government relaxed capital requirements for the two largest Mortgage brokers Fannie Mae and Freddie Mac thus making available US$200billion of financing for home loans. In U.S. share markets the NASDAQ fell by 58 points (-2.6%) whilst the Dow Jones fell by 293 points (-2.4%). Crude oil pulled back by US$4.94 a barrel to end at US$104.48.

· The Euro (EURO) was slightly weaker amidst the rebound in USD against major currencies. Inflationary pressures cited by ECB officials continue to keep the Euro relatively well bid in the face of aggressive rate cuts in the US. Overall the EURUSD traded with a low of 1.5581 and a high of 1.5786 before closing the day at 1.5605 in the New York session. Looking ahead, PMI Manufacturing and PMI Services are due for release.

· The Japanese Yen (JPY) was somewhat weaker against the USD as the greenback rallied in the overnight session. Overall the USDJPY traded with a low of 97.68 and a high of 100.11 before closing the day at 98.89 in the New York session.

· The Sterling (GBP) was weaker against the US Dollar after the Bank of England minutes showed a 7-2 vote to keep rates on hold, with two dissenting voters opting for a rate cut. Britain’s largest mortgage lender HBOS Plc fell by 17% in London after fending off reports it had “liquidity problems.” Overall the GBPUSD traded with a low of 1.9800 and a high of 2.0152 before closing the day at 1.9819 in the New York session. Looking ahead, retail sales for the month of February are due out today.

· The Australian Dollar (AUD) was sold off against the greenback together with other major currencies. The AUD did not fare well also in light of the broad sell-off in commodities, particularly gold. Overall the AUDUSD traded with a low of 0.9120 and a high of 0.9354, before closing the day at 0.9127 in the New York session.

· Gold (XAU) plunged the most ever in one day as the markets booked recent profits. In 1980, XAU dropped by US$50/oz in 2 days from the high reached of US$873, a record which lasted for almost 28 years. Gold fell US$59 an ounce to US$945.30.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.5523	1.5613	1.5640	1.5832	1.5904
USD/JPY	96.86	97.68	98.70	100.45	101.16
GBP/USD	1.9722	1.9875	1.9855	2.0152	2.0275
AUD/USD	0.9122	0.9128	0.9135	0.9449	0.9473
XAU/USD	900.00	938.55	942.00	1012.33	1032.50

· Euro – 1.5640

Initial support at 1.5613 (Mar 19 low) followed by 1.5523 (Mar 13 low). Initial resistance is now located at 1.5832 (Mar 18 high) followed by 1.5904 (Mar 17 trend high).

· Yen – 98.70

Initial support is located at 97.68 (Mar 19 low) followed by 96.86 (Mar 18 low). Initial resistance is now at 100.45 (Mar 19 high) followed by 101.16 (Mar 14 high)

· Pound – 1.9855

Initial support at 1.9875 (Former resistance Feb 27) followed by 1.9722 (Mar 5 low). Initial resistance is now at 2.0152 (Mar 19 high) followed by 2.0275 (Mar 18 high)

· Australian Dollar – 0.9135

Initial support a 0.9167 (Mar 18 low) followed by 0.9128 (Mar 17 low). Initial resistance is now at 0.9449 (Mar 17 high) followed by 0.9473 (Mar 13 high)

· Gold – 942

Initial support at 938.55 (Mar 19 low) followed by 900 (Psychological round number). Initial resistance is now at 1012.33 (Mar 18 high) followed by 1032.5 (Mar 17 high)

Forex trading involves substantial risk of loss, and may not be suitable for everyone.

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Daily Forex Update(Mar 19 2008)

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FOREX Daily Outlook by Easy-Forex.com

FOMC cut rates by 75bps, US equity markets rally. USD gains the most against the JPY in 9 years.

CURRENCY TRADING SUMMARY – 19 MARCH 2008 (00:30GMT)

· U.S. Dollar Trading (USD) managed to recoup some losses against the majors in the overnight session on the back of the Federal Reserve decision to cut by 75bps. Markets were expecting a possible 1% cut and initially equity markets were sold off before staging a rally. The FOMC statement stated that the cut “should help to promote moderate growth over time and to mitigate the risks to economic activity” and “Downside risks to growth remain.” Also, earnings reports from Lehman Brothers and Goldman Sachs came in positive, prompting markets to seek risk. Housing starts posted a better than previous 1.065mio result compared to an expected 990k. PPI for the month of February came in as expected at 0.3%. In U.S. share markets the NASDAQ closed up by 91 points (4.2%) whilst the Dow Jones finished higher by 420 points (3.5%). Crude oil rallied higher by US$3.56 a barrel to end at US$109.24.

· The Euro (EURO) succumbed to selling pressure as the cut in interest rate in the US was viewed as positive USD, and a sign the Federal Reserve were doing everything in their power to promote growth. Overall the EURUSD traded with a low of 1.5628 and a high of 1.5823 before closing the day at 1.5633 in the New York session.

· The Japanese Yen (JPY) was sold off against the USD, the largest move higher by the dollar-yen in 9 years and coming after reaching lows not seen since 1995. Overall the USDJPY traded with a low of 96.86 and a high of 99.70 before closing the day at 97.58 in the New York session.

· The Sterling (GBP) strengthened somewhat against the USD as CPI confirmed that the Bank of England would not be quick to cut rates again. CPI for the month of February came in at 0.7%, slightly lower than the 0.8% forecasted but great than the previous of -0.7%. Overall the GBPUSD traded with a low of 1.9957 and a high of 2.0273 before closing the day at 2.0074 in the New York session.

· The Australian Dollar (AUD) was stronger in the overnight session as the Fed move coupled with the positive bank earnings reports from the US, prompted risk seeking in the financial markets. Overall the AUDUSD traded with a low of 0.9168 and a high of 0.9307, before closing the day at 0.9266 in the New York session.

· Gold (XAU) was relatively unchanged rising against the USD, tracking increases in base metals and crude oil. XAU traded higher by $1.70 an ounce to close at US$1004.30.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.5345	1.5523	1.5680	1.5831	1.5904
USD/JPY	95.77	96.86	99.80	99.92	101.16
GBP/USD	1.9875	1.9944	2.0115	2.0273	2.0398
AUD/USD	0.9128	0.9167	0.9320	0.9449	0.9473
XAU/USD	950.00	981.80	988.00	1032.50	1048.16

· Euro – 1.5680

Initial support at 1.5523 (Mar 13 low) followed by 1.5345 (38.2% retracement of the 1.4441 to 1.5904 advance). Initial resistance is now located at 1.5831 (Mar 18 high) followed by 1.5904 (Mar 17 trend high).

· Yen – 99.80

Initial support is located at 96.86 (Mar 18 low) followed by 95.77 (76.4% retracement of the 79.75 to 147.6 advance). Initial resistance is now at 99.92 (Mar 18 high) followed by 101.16 (Mar 14 high)

· Pound – 2.0115

Initial support at 1.9944 (Mar 17 high) followed by 1.9875 (Former resistance Feb 27). Initial resistance is now at 2.0273 (Mar 18 high) followed by 2.0398 (Mar 14 high)

· Australian Dollar – 0.9320

Initial support a 0.9167 (Mar 18 low) followed by 0.9128 (Mar 17 low). Initial resistance is now at 0.9449 (Mar 17 high) followed by 0.9473 (Mar 13 high)

· Gold – 988

Initial support at 981.8 (Mar 13 low) followed by 950 (Psychological round number). Initial resistance is now at 1032.5 (Mar 17 high) followed by 1048.16 (Open this week + (range last weeks range * 0.618))

Forex trading involves substantial risk of loss, and may not be suitable for everyone.

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Daily Forex Update(Mar 18 2008)

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FOREX Daily Outlook by Easy-Forex.com

Markets stabilize ahead of FOMC. All eyes on US interest rate decision.

CURRENCY TRADING SUMMARY – 18 MARCH 2008 (00:30GMT)

· U.S. Dollar Trading (USD) recouped some losses against the majors as traders expect the Federal Reserve to slash rates to bolster the ailing US Financial system. The New York Empire State Manufacturing index fell to a record low of -22.23pts in March. In U.S. share markets the NASDAQ and Dow Jones staged an amazing late rally resulting in the NASDAQ finishing down by 35 points (-1.6%) whilst the Dow Jones finished higher by 21 points (0.2%). Crude oil also traded lower by US$4.53 a barrel to end at US$105.68, the biggest percentage decline in 7 months. Looking ahead, the FOMC end their two day meeting today with the market expecting a 0.5% cut in rates. Also, housing starts and PPI are due out for release.

· The Euro (EURO) reached a new record high after the Bear Sterns and Federal Reserve announcements before giving up its gains. The Euro was buoyed by an increasing sentiment that that the Federal Reserve will look to cut interest rates by more than 50 bps on Tuesday the 18^th of March. Overall the EURUSD traded with a low of 1.5658 and a high of 1.5903 before closing the day at 1.5729 in the New York session.

· The Japanese Yen (JPY) traded at fresh multi-year year lows versus the dollar following the Bear Sterns fire sale. Overall the USDJPY traded with a low of 95.77 and a high of 99.30 before closing the day at 97.44 in the New York session.

· The Sterling (GBP) weakened versus the weakening US dollar, as concerns arose that credit losses will reduce the appetite for high interest yielding currencies. Overall the GBPUSD traded with a low of 1.9994 and a high of 2.0238 before closing the day at 2.0021 in the New York session. Looking ahead, UK CPI and the Retail Price index are due for release.

· The Australian Dollar (AUD) was weaker in the overnight session; as a result, the high yielding currency fell on market jitters trading with a low of 0.9131 and a high of 0.9446, before closing the day at 0.9171 in the New York session. RBA minutes released today signaled the growing concerns that credit issues are a growing problem and that there is some initial signs of a slow down in domestic demand. RBA officials however did question whether recent monetary policy moves were sufficient.

· Gold (XAU) was slightly stronger after falling against the USD from its meteoric rise to just over USD$1030/oz. XAU traded higher by $3.10 an ounce to close at US$1002.60.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.5523	1.5654	1.5750	1.5904	1.6000
USD/JPY	95.00	95.77	97.20	99.28	101.16
GBP/USD	1.9875	1.9993	1.9990	2.0231	2.0398
AUD/USD	0.9122	0.9147	0.9190	0.9449	0.9473
XAU/USD	981.80	991.00	998.00	1032.50	1048.16

· Euro – 1.5750

Initial support at 1.5654 (Mar 17 low) followed by 1.5523 (Mar 13 low). Initial resistance is now located at 1.5904 (Mar 17 low) followed by 1.6 (Psychological round number resistance).

· Yen – 97.20

Initial support is located at 95.77 (76.4% retracement of the 79.75 to 147.6 advance) followed by 95.0 (Round number support). Initial resistance is now at 99.28 (Mar 17 high) followed by 101.16 (Mar 14 high)

· Pound – 1.9990

Initial support at 1.9993 (Mar 16 high) followed by 1.9875 (Former resistance Feb 27). Initial resistance is now at 2.0231 (Mar 17 high) followed by 2.0398 (Mar 14 high)

· Australian Dollar – 0.9190

Initial support a 0.9147 (Mar 17 low) followed by 0.9122 (38.2% retracement of the 0.8513 to 0.9499 advance). Initial resistance is now at 0.9449 (Mar 17 high) followed by 0.9473 (Mar 13 high)

· Gold – 998

Initial support at 991.0 (Mar 14 low) followed by 981.80 (Mar 13 low). Initial resistance is now at 1032.5 (Mar 17 high) followed by 1048.16 (Open this week + (range last weeks range * 0.618))

Forex trading involves substantial risk of loss, and may not be suitable for everyone.

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Daily Forex Update(Mar 17 2008)

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Bear Sterns acquires injection from Fed and JP Morgan. Fed cuts discount rate to 3.25%

CURRENCY TRADING SUMMARY – 17 MARCH 2008 (00:30GMT)

· U.S. Dollar Trading (USD) traded at record lows once again as the credit market stress continued to rear its ugly head. In data related news the Core CPI figures eased from eased from 2.5% to 2.3% (y/y) for the month of February, highlighting the U.S. slowdown. In other news, Bear Stearns received emergency funding by the Federal Reserve and JP Morgan on Friday. In U.S. share markets the NASDAQ was down by 51.12 points (-2.26%) whilst the Dow Jones was also lower by -194.65 points (-1.6%) weighing heavy on a number of high yielding currencies. Crude oil also traded lower by US$0.15 a barrel to end at US$110.15. Looking ahead, the FOMC start their two day meeting today, whilst other key data released on Monday will include the Current Account figures for the fourth quarter (Forecast: -184 bln; Previous: -178.4 bln) and the New York Fed Manufacturing Survey (Forecast: -8 bln; Previous: -11.72 bln). UPDATE: Monday Asian session reveals JP Morgan to acquire Bear Stearns at $2 a share, whilst the Fed moves to cut the discount rate to 3.25% effective immediately.

· The Euro (EURO) touched a fresh record high on Friday on an ongoing weakening dollar. The Euro was buoyed by added to bets that the Federal Reserve will look to cut interest rates by 50 bps on Tuesday the 18^th of March. In other news, European Union leaders expressed concern over excessive currency volatility and undesirable disorderly movements of exchange rates. Despite the recent comments from the ECB, the EUR continues to build on last years gains against the US dollar. Overall the EURUSD traded with a low of 1.5532 and a high of 1.5690 before closing the day at 1.5664 in the New York session.

· The Japanese Yen (JPY) traded at a fresh 12 ½ year low versus the dollar following poor US economic data. The Japanese yen also benefited from a fleeing of carry trades and falling stock prices in light of the Bear Stearns debacle. Overall the USDJPY traded with a low of 98.89 and a high of 101.15 before closing the day at 99.24 in the New York session.

· The Sterling (GBP) rallied versus the weakening US dollar, taking advantage of the growing sense in financial markets that the Federal Reserve's recent actions to ease credit market strains will not work. The Sterling pound also gained on trimmed bets the BoE will move to cut rates in the near term future. Overall the GBPUSD traded with a low of 2.0210 and a high of 2.0387 before closing the day at 2.0206 in the New York session.

· The Australian Dollar (AUD) initially rallied, although paired it gains on news of Bear Stearns liquidity concerns and falling stock prices. As a result, the high yielding currency fell on market jitters trading with a low of 0.9362 and a high of 0.9447, before closing the day at 0.9376 in the New York session.

· Gold (XAU) surged to a record in New York following news of the Bear Stearns bailout and a plunging dollar increased demand for the precious metal. XAU traded higher by US$5.70 an ounce to close at US$999.50, having earlier traded at a record high of US$1,009.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.5331	1.5523	1.5705	1.5790	1.5862
USD/JPY	96.64	97.25	98.70	101.14	103.59
GBP/USD	1.9975	1.9996	2.0165	2.0398	2.0465
AUD/USD	0.9276	0.9315	0.9410	0.9473	0.9499
XAU/USD	981.80	990..80	1004.50	1010.00	1020.50

· Euro – 1.5705

Initial support at 1.5523 (Mar 13 low) followed by 1.5331 (Mar 12 low). Initial resistance is now located at 1.5790 (open this week + range last week * 1.382) followed by 1.5862 (open this week + range last week * 1.618).

· Yen – 98.70

Initial support is located at 97.25 (September 1995 low) followed by 101.26 (Nov 1999 low). Initial resistance is now at 98.92 (108.60 – 114.66 – 104.98) followed by 101.69 (Mar 13 high)

· Pound – 2.0165

Initial support at 1.9996 (Mar 11 high) followed by 1.9975 (Feb 27 resistance). Initial resistance is now at 2.0398 (Mar 14 high) followed by 2.0465 (61.8% ret of 2.1161 -1.9338)

· Australian Dollar – 0.9410

Initial support a 0.9315 (Mar 13 low) followed by 0.9276 (Mar 12 low). Initial resistance is now at 0.9473 (Mar 13 high) followed by 0.9499 (Feb 28 high)

· Gold – 1004.50

Initial support at 990.80 (Mar 14 low) followed by 981.80 (Mar 13 low). Initial resistance is now at 1010.00 (Round Number resistance) followed by 1020.52 (open + last weeks range * 1.382)

Forex trading involves substantial risk of loss, and may not be suitable for everyone.

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Daily Forex Update(Mar 14 2008)

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FOREX Daily Outlook by Easy-Forex.com

Dollar slumps on poor Retail Sales. Euro, Oil and XAU at record highs, as USDJPY breaks 100.00

CURRENCY TRADING SUMMARY – 14 MARCH 2008 (00:30GMT)

· U.S. Dollar Trading (USD) depreciated further on the high today as traders reacted to the probable bankruptcy of a major hedge fund, Carlyle Capital, is said to have defaulted on US$ 16 billion in margin calls associated with massive mortgage-backed securities positions and is the latest casualty from the ongoing credit market woes. In data news, Retail figures fell by -0.6% from the previous month, below expectations of a rise in 0.2%. In U.S. share markets the NASDAQ was down by 45.93 points (+0.52%) whilst the Dow Jones 35.50 points (+0.29%). Crude oil traded at a fresh intra-day high US$111.00 a barrel on Thursday. Crude rose for a seventh straight day up by US$0.26 a barrel to US$110.18. Looking ahead, CPI figures are released out of the U.S. this evening accompanied by the Michigan Sentiment Survey for the month of March.

· The Euro (EUR) traded at a record high of 1.5625 on Thursday on a battered dollar. Overall the EURUSD traded with a low of 1.5523 and a high of 1.5624 before closing the day 1.5584 in the New York session. Eurozone CPI figures are made public on Friday.

· The Japanese Yen (JPY) traded at a fresh 12 year low on Thursday, breaking below the key 100.00 level on growing risk aversion. Further more the Japanese Yen set a record low against the Euro after a Carlyle Group fund defaulted on about $16.6 billion of debt, adding to turmoil in financial markets. Overall the USDJPY traded with a low of 99.77 (lowest level since Oct. 1995) and a high of 101.77 before closing the day at 101.03 in the New York session.

· The Sterling (GBP) reached a three month high and also snapped two days of declines versus the Euro. Overall the GBPUSD traded with a low of 2.0256 and a high of 2.0390 before closing the day at 2.0289 in the New York session.

· The Australian Dollar (AUD) rallied on Thursday morning, as Unemployment Rate dropped to an all time low of 4.0% for the month February buoyed by 37.6K jobs created pushing the AUD towards 94 cents. Overall the AUDUSD traded with a low of 0.9331 and a high of 0.9451 before closing the day at 0.9440 in the New York session.

· Gold (XAU) traded above $1,000 an ounce for the first time in New York today on the sliding dollar. XAU traded with a low of 982.50 and a high of 999.90

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.5262	1.5283	1.5605	1.5645	1.5666
USD/JPY	99.27	99.77	100.95	101.69	103.59
GBP/USD	1.9996	2.0221	2.0305	2.0391	2.0465
AUD/USD	0.9122	0.9147	0.9445	0.9465	0.9499
XAU/USD	949.00	957.20	995.00	992.75	1000.00

· Euro – 1.5605

Initial support at 1.5283 (Mar 11 low) followed by 1.5262 (Mar 6 low). Initial resistance is now located at 1.5571 (Mar 12 high) followed by 1.5666 (bull channel resistance).

· Yen – 100.95

Initial support is located at 101.42 (Mar 7 low) followed by 101.26 (Nov 1999 low). Initial resistance is now at 103.59 (Mar 11 high) followed by 104.19 (Jan 23 high)

· Pound – 2.0305

Initial support at 1.9996 (Mar 11 high) followed by 1.9975 (Feb 27 resistance). Initial resistance is now at 2.0281 (Mar 12 high) followed by 2.0328 (Bull channel top)

· Australian Dollar – 0.9445

Initial support a 0.9147 (Mar 11 low) followed by 0.9122 (38.2% retracement of the 0.8513 to 0.9499 advance). Initial resistance is now at 0.9400 (round number resistance) followed by 0.9421 (Mar 3 high)

· Gold – 995.00

Initial support at 957.20 (Mar 4 low) followed by 949.00 (Feb 27 low). Initial resistance is now at 992.75 (Mar 5 high) followed by 1000.00 (Round Number)

Forex trading involves substantial risk of loss, and may not be suitable for everyone.

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Daily Forex update(Mar 13 2008)

FOREX Daily Outlook by Easy-Forex.com

Euro traded at a record high versus the dollar as views the Fed injection will not suffice.

CURRENCY TRADING SUMMARY – 13 MARCH 2008 (00:30GMT)

· U.S. Dollar Trading (USD) was weaker across the board versus a number of majors trading at record lows once again. Many of the moves were on views from Citigroup Inc. to Goldman Sachs Group Inc. which expect the Federal Reserve's plan to inject $200 billion into the banking system may fail to break the freeze in money-market lending. In U.S. share markets the NASDAQ was down -61.45 points (-0.69%) whilst the Dow Jones was also lower by -46.57 points (-0.38%). Crude oil traded once again at a record high US$109.92 a barrel up by US$1.17 points. Core Retail Sales is the key piece of data out of the U.S. on Thursday.

· The Euro (EUR) traded at a record high of 1.5559 as views the recent liquidity injection by the Fed will do little to stabilize markets. Overall the EURUSD traded with a low of 1.5333 and a high of 1.5559 before closing the day at 1.5558 in the New York session.

· The Japanese Yen (JPY) came under pressure during the Asian session on rebounding stock prices. Overall the USDJPY traded with a low of 101.67 and a high of 103.52 before closing the day at 1017.69 in the New York session.

· The Sterling (GBP) moved higher versus the U.S. dollar on Wednesday largely on the back of a weaker dollar. Overall the GBPUSD traded with a low of 2.0076 and a high of 2.0254 before closing the day at 2.0274 in the New York session.

· The Australian Dollar (AUD) edged higher on rebounding stock prices and higher commodity prices. Overall the AUDUSD traded with a low of 0.9277 and a high of 0.9367 before closing the day at 0.9329 in the New York session. On Thursday morning, Unemployment Rate dropped to an all time low of 4.0% for the month February buoyed by 37.6K jobs created pushing the AUD towards 94 cents.

· Gold (XAU) rose as the dollar fell to a record against the Euro; Gold has gained 17 percent this year. XAU traded with a low of 968.10 and a high of 981.90

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.5262	1.5283	1.5525	1.5571	1.5666
USD/JPY	101.26	101.42	101.70	103.59	104.19
GBP/USD	1.9975	1.9996	2.0255	2.0281	2.0328
AUD/USD	0.9122	0.9147	0.9380	0.9400	0.9421
XAU/USD	949.00	957.20	984.80	992.75	1000.00

· Euro – 1.5525

Initial support at 1.5283 (Mar 11 low) followed by 1.5262 (Mar 6 low). Initial resistance is now located at 1.5571 (Mar 12 high) followed by 1.5666 (bull channel resistance).

· Yen – 101.70

Initial support is located at 101.42 (Mar 7 low) followed by 101.26 (Nov 1999 low). Initial resistance is now at 103.59 (Mar 11 high) followed by 104.19 (Jan 23 high)

· Pound – 2.0255

Initial support at 1.9996 (Mar 11 high) followed by 1.9975 (Feb 27 resistance). Initial resistance is now at 2.0281 (Mar 12 high) followed by 2.0328 (Bull channel top)

· Australian Dollar – 0.9380

Initial support a 0.9147 (Mar 11 low) followed by 0.9122 (38.2% retracement of the 0.8513 to 0.9499 advance). Initial resistance is now at 0.9400 (round number resistance) followed by 0.9421 (Mar 3 high)

· Gold – 984.80

Initial support at 957.20 (Mar 4 low) followed by 949.00 (Feb 27 low). Initial resistance is now at 992.75 (Mar 5 high) followed by 1000.00 (Round Number)

Forex trading involves substantial risk of loss, and may not be suitable for everyone.

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Daily Forex update(Mar 12 2008)

FOREX Daily Outlook by Easy-Forex.com

Fed announce $200 Billion cash injection to boost credit markets, as share markets rally

CURRENCY TRADING SUMMARY – 12 MARCH 2008 (00:30GMT)

· U.S. Dollar Trading (USD) was mixed once again versus a number of majors in a highly eventful trading day with the Federal Reserve announcement it will inject liquidity into the financial system, easing the market’s anxiety over a deepening credit crisis and US recession. The Fed said it will hold auctions to lend as much as $200 billion in Treasuries and increase swap lines with the European Central Bank and the Swiss National Bank. Central banks coordinating actions to address the liquidity issue in the market is helping to stabilize the markets and aiding the US dollar recovery. Much of the sentiment surrounding the dollar rebound circled trimmed bets that the Fed would cut by 75 basis points. In U.S. share markets the NASDAQ was up by 86.42 points (3.98%) whilst the Dow Jones was also up by 416.66 points (3.55%). Crude oil continued to set new highs of US$109.72 a barrel, before ending the day higher by US$0.85 at US$108.75.

· The Euro (EUR) traded at a record high before giving up much of its gains on the Fed announcement, as traders speculated the steps will help ease a credit crisis that is threatening to tip the U.S. economy into a recession. The single currency had traded at a record high earlier after an industry report showed investor confidence in Germany unexpectedly improved this month, adding to evidence Europe's largest economy may weather a U.S. slowdown. Overall the EURUSD traded with a low of 1.5283 and a high of 1.5495 before closing the day at 1.5315 in the New York session. EU Industrial Production is expected to come in at 0.3% for the month of January, previous at -0.2%

· The Japanese Yen (JPY) rose the most in six months against the yen after the Federal Reserve said it will lend up to $200 billion of Treasuries to financial institutions in exchange for debt that includes mortgage-backed securities. Overall the USDJPY traded with a low of 101.43 and a high of 103.54 before closing the day at 103.40

· The Sterling (GBP) fell from three-month highs after a UK house price measure fell to its lowest since the market crashed in 1990, supporting the case for further interest rate cuts. In other news this morning, separate data from the British Retail Consortium showed retail sales growing at a modest pace last month, as consumer spending tightened, adding more pressure to the British pound. Overall the GBPUSD traded with a low of 1.9997 and a high of 2.0210 before closing at 2.0074 in the New York session.

· The Australian Dollar (AUD) was the one currency to benefit from the Fed cash injection as rebounding stocks prompted a return to high yielder’s. Overall AUDUSD traded with a low of 0.9190 and a high of 0.9270 before closing the day at 0.9260.

· The Canadian Dollar (CAD) gained against the greenback supported by record oil prices, strong domestic data, and a coordinated move by central banks to help ease credit strains. The Bank of Canada said it was ready to pump CAD $4 billion into the market and domestic data showed Canada’s trade surplus widened in January on a surge in exports. Overall the USDCAD traded with a low of 0.9893 and a high of 0.9973

· Gold (XAU) rose after oil surged to a record, boosting the appeal of the precious metal as a hedge against inflation. XAU traded with a low of 965.05 and a high of 985.30

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.5262	1.5283	1.5340	1.5496	1.5500
USD/JPY	101.26	101.42	103.40	103.59	104.19
GBP/USD	1.9975	1.9996	2.0060	2.0211	2.0221
AUD/USD	0.9122	0.9147	0.9290	0.9313	0.9385
XAU/USD	949.00	957.20	972.90	992.75	1000.00

· Euro – 1.5345

Initial support at 1.5313 (Mar 10 low) followed by 1.5262 (Mar 6 low). Initial resistance is now located at 1.5463 (Mar 7 high) followed by 1.5500 (1.4311 plus 0.618 of 1.3361 to 1.4967).

· Yen – 101.50

Initial support is located at 101.42 (Mar 7 low) followed by 101.26 (Nov 1999 low). Initial resistance is now at 103.24 (Mar 7 high) followed by 104.19 (Jan 23 high)

· Pound – 2.0060

Initial support at 1.9960 (Jan 30 high) followed by 1.9896 (Mar 6 low). Initial resistance is now at 2.0221 (Mar 7 high) followed by 2.0250 (50% retracement of the 2.1161 – 1.9338)

· Australian Dollar – 0.9290

Initial support a 0.9160 (Mar 10 low) followed by 0.9122 (38.2% retracement of the 0.8513 to 0.9499 advance). Initial resistance is now at 0.9421 (Mar 3 high) followed by 0.9499 (Feb 28 high)

· Gold – 972.90

Initial support at 957.20 (Mar 4 low) followed by 949.00 (Feb 27 low). Initial resistance is now at 992.75 (Mar 5 high) followed by 1000.00 (Round Number)

Forex trading involves substantial risk of loss, and may not be suitable for everyone.

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Daily Forex update (Mar 11 2008)

FOREX Daily Outlook by Easy-Forex.com

Shares fall further whilst oil trades at a record high. German ZEW survey out today

CURRENCY TRADING SUMMARY – 11 MARCH 2008 (00:30GMT)

· U.S. Dollar Trading (USD) was mixed against a number of currencies on Monday as traders once again looked towards stock prices as a measure of market stability. Reports were circulating that Bear Stearns were faced with liquidity problems (albeit unconfirmed) pushed shares down by 11%, dragging share markets lower with growing concerns on the health of the Financial Sector. In U.S. share markets the NASDAQ was down by 141.90 points (-1.64%) whilst the Dow Jones was also lower by 153.54 points (-1.29%). Crude oil closed lower by US$2.75 a barrel to US$107.90, having earlier touched a record high of US$108.21. Looking ahead, Trade Balance data out of the US for the month of January is expected to be released at -59.7% (Prior: -57.76%).

· The Euro (EUR) traded in a defined range as technical’s took advantage of data absent trading day. Views grew that recent rallies on the Euro would be capped at 1.5450 as charts traders use to predict price movements signaled the currency's losses may be excessive, said Resona Bank Ltd. Overall the EURUSD traded with a low of 1.5313 ad a high of 1.5405 before closing the day at 1.5347 in the New York session. The German ZEW survey of economic sentiment is made public for the month of March with economist predicting a decline to -40, inline with the previous -39.5.

· The Japanese Yen (JPY) continued its run breaking through 102.00, as losses in credit markets prompted investors to reduce holdings of high-yielding assets funded by loans in Japan. Overall the USDJPY traded with a low of 101.55 and a high of 102.65 before closing the day at 101.79 in the New York session.

The Sterling (GBP) extended its advance versus the dollar trading within three month high, as reports showed U.K. producer-price increases matched the fastest annual pace since 1991 last month. Overall the GBPUSD traded with a low of 2.0091 and a high of 2.0220 before closing the day at 2.0100 in the New York session.

· The Australian Dollar (AUD) ended the session battered as risk aversion prompted rapid selling of AUDJPY crosses. Overall the AUDJPY traded with a low of 0.9161 and a high of 0.9311 before closing the day at 0.9179 in the New York session.

· The Canadian Dollar (CAD) fell as traders sold currencies tied to global growth and commodity exports after investors shed higher-yielding assets on concern that the world's largest economy was slowing. Overall the USDCAD traded with a low of 0.9858 and a high of 0.9983 before closing the day at 0.9977 in the New York session.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.5262	1.5313	1.5345	1.5463	1.5500
USD/JPY	101.26	101.42	101.50	103.24	104.19
GBP/USD	1.9896	1.9960	2.0085	2.0221	2.0250
AUD/USD	0.9122	0.9160	0.9165	0.9421	0.9499
XAU/USD	949.00	957.20	974.00	992.75	1000.00

· Euro – 1.5345

Initial support at 1.5313 (Mar 10 low) followed by 1.5262 (Mar 6 low). Initial resistance is now located at 1.5463 (Mar 7 high) followed by 1.5500 (1.4311 plus 0.618 of 1.3361 to 1.4967).

· Yen – 101.50

Initial support is located at 101.42 (Mar 7 low) followed by 101.26 (Nov 1999 low). Initial resistance is now at 103.24 (Mar 7 high) followed by 104.19 (Jan 23 high)

· Pound – 2.0085

Initial support at 1.9960 (Jan 30 high) followed by 1.9896 (Mar 6 low). Initial resistance is now at 2.0221 (Mar 7 high) followed by 2.0250 (50% retracement of the 2.1161 – 1.9338)

· Australian Dollar – 0.9165

Initial support a 0.9160 (Mar 10 low) followed by 0.9122 (38.2% retracement of the 0.8513 to 0.9499 advance). Initial resistance is now at 0.9421 (Mar 3 high) followed by 0.9499 (Feb 28 high)

· Gold – 974.00

Initial support at 957.20 (Mar 4 low) followed by 949.00 (Feb 27 low). Initial resistance is now at 992.75 (Mar 5 high) followed by 1000.00 (Round Number)

Forex trading involves substantial risk of loss, and may not be suitable for everyone.

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Daily Forex update(Mar 10 2008)

FOREX Daily Outlook by Easy-Forex.com

Non Farm Payrolls declines by -63k as stock markets fall.

CURRENCY TRADING SUMMARY – 10 MARCH 2008 (00:30GMT)

· U.S. Dollar Trading (USD) was subject to an abysmal reading in jobs data for the month of February. Non Farm Payroll figures for the month declined by -63k jobs, disappointing expectations of a rebound by 23k jobs whilst previous figures for the month of January were revised lower to -22k compounding the woes on the US economy. Although the figures were in view of a depreciating dollar, market uncertainty, falling stock prices and risk aversion favoured a reprieve on the greenback. In U.S. share markets the NASDAQ was down by -8.01 points (-0.36%) whilst the Dow Jones also fell by -146.70 points (-1.22%). Crude oil prices remained firm above US$105.00 a barrel for much of the session, before declining by a meager US$0.16 to US$105.31.

· The Euro (EUR) once again traded at a record high in the lead up to the much anticipated Non Farm Payrolls data out of the world’s largest economy. With figures declining by -63k for the month, the Euro was pressured by falling stock prices and profit taking. Overall the Euro traded with a low of 1.5314 and an all time high of 1.5465 before closing the day at 1.5346 in the New York session.

· The Japanese Yen (JPY) governed plenty of activity on the majors as risk aversion on falling stock prices took its course. The Japanese Yen extended it recent gains versus the dollar trading at its lowest level since January 2000, and within sight of its December 1995 low. Although recent multi year lows prompted investors to assume intervention by Japanese monetary officials in the near term. Overall the USDJPY traded with a low of 101.41 and a high of 103.24 before closing the day at 102.83 in the New York session. Japanese Machine orders for the month January are expected to be seen at 2.9% well above the previous -3.2%.

· The Sterling (GBP) continued its rally above the $2 level trading at its highest level since the 18 December 2007, holding firm upon the Non Farm Payrolls data release out of the U.S. unlike a number of majors. Overall the GBPUSD traded with a low of 2.0097 and a high of 2.0216 before closing the day at 2.0148 in the New York session. Key data out of the UK on Monday will include Industrial Production with economists forecasting a rise of 0.1% for the month of January, rebounding from the previous -0.1%.

· The Australian Dollar (AUD) like other high yielder’s was sold on the back of falling stock prices in the later part of the U.S. session, failing to maintain its gains throughout the day. Overall the AUDUSD traded with a low of 0.9262 and a high of 0.9359 before closing the day at 0.9274 in the New York session.

· Gold (XAU) was sold on the back of further profit taking, despite Oil remaining close to record highs above US$105.00 a barrel. XAU traded with a low of 970.05 and a high of 988.62.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.5146	1.5262	1.5365	1.5463	1.5500
USD/JPY	101.26	101.42	102.50	104.19	104.97
GBP/USD	1.9896	1.9975	2.0165	2.0216	2.0250
AUD/USD	0.9122	0.9219	0.9265	0.9421	0.9499
XAU/USD	949.00	957.20	972.90	992.75	1000.00

· Euro – 1.5365

Initial support at 1.5262 (Mar 6 low) followed by 1.5146 (Mar 5 low). Initial resistance is now located at 1.5463 (Mar 7 high) followed by 1.5500 (1.4311 plus 0.618 of 1.3361 to 1.4967).

· Yen – 102.50

Initial support is located at 101.42 (Mar 7 low) followed by 101.26 (Nov 1999 low). Initial resistance is now at 104.19 (Mar 5 high) followed by 104.97 (Jan 23 high)

· Pound – 2.0165

Initial support at 1.9975 (Feb 27 low) followed by 1.9896 (Mar 6 low). Initial resistance is now at 2.0216 (Mar 7 high) followed by 2.0250 (50% retracement of the 2.1161 – 1.9338)

· Australian Dollar – 0.9265

Initial support a 0.9219 (Mar 4 low) followed by 0.9122 (38.2% retracement of the 0.8513 to 0.9499 advance). Initial resistance is now at 0.9421 (Mar 3 high) followed by 0.9499 (Feb 28 high)

· Gold – 972.90

Initial support at 957.20 (Mar 4 low) followed by 949.00 (Feb 27 low). Initial resistance is now at 991.00 (Mar 5 high) followed by 1000.00 (Round Number)

Forex trading involves substantial risk of loss, and may not be suitable for everyone.

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Daily Forex Update(Mar 7 2008)

FOREX Daily Outlook by Easy-Forex.com

XAU and Oil at record highs, Non Farm Payrolls due for release

CURRENCY TRADING SUMMARY – 07 MARCH 2008 (00:30GMT)

· U.S. Dollar Trading (USD) was mixed against a number of majors the market is expecting the Federal Reserve to cut interest rates by at least 50 basis points at this month's FOMC meeting due to data pointing to a deteriorating economy. In U.S. share markets the NASDAQ was down by 52.31 points (-2.3%) whilst Dow Jones fell to -214.60 points (-1.75%). Crude oil traded at record highs of US$105.97, before ending at US$105.48. Non Farm Payrolls is the key piece of data on Friday.

· The Euro (EUR) The Euro rose to an all-time high against the US dollar after hawkish comments from the European Central Bank as they left rates unchanged at 4.0 percent, as expected. Although record oil prices, higher credit costs, and the Euro's 17% gain versus the greenback in the past year has slowed economic growth in the Euro region, inflation is running at 3.2%, the fastest pace since the Euro's debut in 1999. Overall the EURUSD traded with a low of 1.5263 and a high of 1.5379 before closing the day at 1.5376 in the New York session.

· The Japanese Yen (JPY) extended gains against the US dollar after US pending home sales were unchanged in January, doing little to alleviate investors' worries over the slumping US economy. Overall the USDJPY traded with a low of 102.57 and a high of 104.00 before closing the day at 102.73 in the New York session

· The Sterling (GBP) hit the year's high versus the dollar and eased from a record low against the Euro after the Bank of England kept its key interest rate at 5.25%. Like the US, however, the UK has begun showing signs of recession with a slowdown in household spending to 0.2%, the weakest in more than a year, and declining consumer confidence. Overall the GBPUSD traded with low 1.9896 and high of 2.0116 before closing the day at 2.0104 in the New York session.

· The Australian Dollar (AUD) was sold off against the USD as risk aversion, overall the AUDUSD traded with a low of 0.9244 and a high of 0.9378 before closing the day at 0.9253 in the New York session.

· The Canadian Dollar (CAD) rose against the greenback as oil and gold prices shot to record highs, supporting the commodity-linked currency, even though economic data showed domestic building permits fell in January. Overall the USDCAD traded with a low of 0.9813 and a high of 0.9885 before closing the day at 0.9869 in the New York session

· Gold (XAU) failed to follow above its latest record highs as power supply to Gold mines in South Africa was reinstated. Gold experienced a minor sell-off. XAU traded with a low of 965.50 and a high of 992.00

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.5146	1.5262	1.5375	1.5373	1.5382
USD/JPY	101.67	102.61	102.75	104.97	105.39
GBP/USD	1.9722	1.9896	2.0115	2.0102	2.0196
AUD/USD	0.9122	0.9219	0.9305	0.9421	0.9499
XAU/USD	949.00	957.20	982.60	992.75	1000.00

· Euro – 1.5375

Initial support at 1.5146 (Feb 5 low) followed by 1.5074 (Feb 28 low). Initial resistance is now located at 1.5302 (Mar 5 high) followed by 1.5382 (1.4311 plus 0.618 of 1.3361 to 1.4967).

· Yen – 102.75

Initial support is located at 102.61 (Mar 3 low) followed by 101.67 (Jan 1995 reaction low). Initial resistance is now at 104.97 (Jan 23 high) followed by 105.39 (Feb 29 high)

· Pound – 2.0115

Initial support at 1.9722 (Feb 28 low) followed by 1.9644 (Feb 22 low). Initial resistance is now at 1.9975 (Feb 27 high) followed by 2.0000 (Round Number)

· Australian Dollar – 0.9305

Initial support a 0.9219 (Mar 4 low) followed by 0.9122 (38.2% retracement of the 0.8513 to 0.9499 advance). Initial resistance is now at 0.9421 (Mar 3 high) followed by 0.9499 (Feb 28 high)

· Gold – 982.40

Initial support at 957.20 (Mar 4 low) followed by 949.00 (Feb 27 low). Initial resistance is now at 991.00 (Mar 5 high) followed by 1000.00 (Round Number)

Forex trading involves substantial risk of loss, and may not be suitable for everyone.

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Daily Forex Update(Mar 6 2008)

FOREX Daily Outlook by Easy-Forex.com

ISM rebounds, as Jobs data causes market volatility. ECB and BoE rate announcements today.

CURRENCY TRADING SUMMARY – 06 MARCH 2008 (00:30GMT)

· U.S. Dollar Trading (USD) eased against a number of majors as ADP employment (often considered a preview to Non Farm Payrolls) came in significantly worse than expectations. According to the report, the US labour force was seen to have lost -23K jobs during the month of February, well below the forecasted rise of 20K jobs and previous 130K reading. The USD woes were compounded further as Services ISM came in at 49.3, although higher than expectations, still below the key 50 level, indicating an ongoing contraction in the sector. The Service sector contributes to 70% of the US economy, economic slowdown remains prominent. In U.S. share markets the NASDAQ was up by 70.90 points (+0.80%) whilst the Dow Jones was also up by 41.19 points (+0.34%). Crude oil traded at fresh record highs on Wednesday on news that US inventories fell throughout the last week, despite OPEC members leaving quotas unchanged. Crude rose by US$4.96 a barrel to US$104.48. Looking ahead Pending Home Sales for the month of January are expected to come in at -1%, with previous figures at -1.5%.

· The Euro (EUR) rallied to fresh record highs on poor data out of the U.S. in the form of Jobs. On specific data out of the EZ, Retail Sales came in on expectations 0.4%. Overall the EURUSD traded with a low of 1.5145 and a high of 1.5305 before closing the day 1.5268 in the New York session. Looking ahead, ECB is expected to keep rate on hold once again, with interest placed on the press conference

· The Japanese Yen (JPY) pared declines against the Euro and Dollar as initial losses in U.S. stocks led traders to exit carry-trade purchases of higher-yielding securities funded by cheap loans in Japan. Overall the USDJPY traded with a low of 103.30 and a high of 104.19 before closing the day at 103.81 in the New York session.

· The Sterling (GBP) edged higher on a broadly weaker dollar, and growing expectations that the BoE will hold rates on Thursday. The GBPUSD traded with a low of 1.9718 and a high of 1.9967 before closing day at 1.9917 in the New York session. The BoE is widely expected to hold rates at 5.25%.

· The Australian Dollar (AUD) rallied on the back of a weakening dollar and rebounding stock prices in the US markets. In data news, GDP data for the fourth quarter was released on expectations at 0.6%. Overall the AUDUSD traded with a low of 0.9226 and a high of 0.9340 before closing the day at 0.9314 in the New York session. Trade Balance data was released at -2732 mln on Thursday morning.

· The Canadian Dollar (CAD) rose the most in almost a week against its U.S. counterpart as prices of the nation's commodity exports rose, bolstering the currency's appeal. Overall the USDCAD traded with a low of 0.9851 and a high of 0.9554 before closing the day at 0.9852 in the New York session.

· Gold (XAU) rebounded from previous session, to trade at record highs of 992.70 and a low of 959.55

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.5074	1.5146	1.5280	1.5302	1.5382
USD/JPY	101.67	102.61	103.80	104.97	105.39
GBP/USD	1.9644	1.9722	1.9910	1.9975	2.0000
AUD/USD	0.9122