Daily Forex Commentary: Oct 29 2009

FOREX Daily Outlook by Easy-Forex.com

Market Plunges, Dollar Soars

CURRENCY TRADING SUMMARY – 29th October (00:30GMT)

U.S. Dollar Trading (USD) was second only to the Yen as markets around the world were deep in the red and risk aversion came back into play. September Durable Goods Orders 1.0% vs. -2.6% previously. Hurting sentiment was the large drop in September Home Sales at 402k vs. 440k forecast. In US Stocks, DJIA -119 points closing at 9762, S&P -20 points closing at 1042 and NASDAQ -56 points closing at 2059. Looking ahead, Q3 GDP is forecast at 3.3% vs. -0.7% previously. Also released Weekly jobless claims forecast at 521k vs. 531k previously.

The Euro (EUR) found support in Asia from sovereign buying but as US stocks continued to plunge and EUR/JPY selling intensified through the 135 level the market shunted another leg lower to the 1.4700 figure. German Import Prices were -0.9% vs. -0.6% forecast. Overall the EUR/USD traded with a low of 1.4691 and a high of 1.4841 before closing at 1.4700. Looking ahead, October German Unemployment Forecast at 8.3% vs. 8.2% previously.

The Japanese Yen (JPY) gained across the board as traders took risky trades off the table with the mounting global equity losses. USD/JPY reversed back through 91 Yen and AUD/JPY and NZD/JPY fell over 3% each. After a large run up over the past three weeks the markets were caught long. Overall the USDJPY traded with a low of 90.55 and a high of 91.73 before closing the day around 90.60 in the New York session. Update September Industrial Output Preliminary at 1.4% vs. 1.0% previously.

The Sterling (GBP) was surprising resilient from very heavy EUR/GBP selling through the 0.9000 level. Cable held above 1.6300 and rallied at the start of US through 1.6400 before falling as US stocks slumped. GBP/JPY succumbed to Yen strength but was not as weak as expected. Overall the GBP/USD traded with a low of 1.6286 and a high of 1.6467 before closing the day at 1.6380 in the New York session. Looking ahead, September Mortgage lending data forecast 0.8bn vs. 1.01bn previously.

The Australian Dollar (AUD) was crushed under risk aversion even as CPI data came in stronger than expected. Q3 CPI 1.0% vs. 0.8% forecast. Heavy selling on AUD/JPY came through in Asia and continued throughout the day. Overall the AUD/USD traded with a low of 0.8963 and a high of 0.9207 before closing the US session at 0.8970.

Oil & Gold (XAU) fell in the face of USD strength but safe haven flows stemmed the loss. Overall trading with a low of USD$1026 and high of USD$1042 before ending the New York session at USD$1029 an ounce. Fell heavily on recovery concerns. Crude Oil was down $2.09 ending the New York session at $77.46.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.4674	1.4691	1.4720	1.4927	1.5063
USD/JPY	90.08	90.49	90.70	92.53	93.30
GBP/USD	1.6120	1.6252	1.6380	1.6467	1.6533
AUD/USD	0.8866	0.8963	0.8990	0.9218	0.9329
XAU/USD	1024.00	1026.8	1028.00	1043.00	1067.00
OIL/USD	75.00	76.50	77.30	78.00	80.00

Euro – 1.4720

Initial support at 1.4691 (Oct 28 low) followed by 1.4674 (Oct 9 low). Initial resistance is now located at 1.4927 (Oct 27 high) followed by 1.5063 (Oct 26 high)

Yen – 90.70

Initial support is located at 90.49 (Oct 21 low) followed by 90.08 (Oct 20 low). Initial resistance is now at 92.53 (Sept 21 high) followed by 93.3 (Sept 7 high).

Pound – 1.6380

Initial support at 1.6252 (Oct 26 low) followed by 1.6120 (Oct 8 low). Initial resistance is now at 1.6467 (Oct 28 high) followed by 1.6533 (61.8% retrace 1.7043 - 1.5708).

Australian Dollar – 0.8990

Initial support at 0.8963 (Oct 28 low) followed by the 0.8866 (Oct 7 low). Initial resistance is now at 0.9218 (Oct 27 high) followed by 0.9329 (Oct 21 high).

Gold – 1028

Initial support at 1026.8 (Oct 27 low) followed by 1024 (Sep 17). Initial resistance is now at 1043 (Oct 27 high) followed by 1067 (Oct 20 high).

Oil – 77.30

Initial support at 76.50 (Intraday Support) followed by 75 (major level). Initial resistance is now at 79 ( previous support) followed by 80.00 (Major Level).

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Daily Forex Commentary: Oct 28 2009

FOREX Daily Outlook by Easy-Forex.com

Euro Continues lower

CURRENCY TRADING SUMMARY – 28th October (00:30GMT)

U.S. Dollar Trading (USD) was strong in general as US stocks remained on the back foot. Risk sentiment was also dented by a large fall in US consumer Confidence with October dropping to 47.7 vs. 53.4 previously. August Case-Shiller House prices rose 1.2% vs. 0.7% forecast. In US Stocks, DJIA +14 points closing at 9882, S&P -3 points closing at 1063 and NASDAQ -25 points closing at 2116. Looking ahead, September Durable Goods Orders forecast at 1% vs. -2.6% previously. Crude Oil Inventories released forecast at 1.4mln vs. 1.3mln previously.

The Euro (EUR) took the full force of USD and Yen strength falling below 1.4800 and breaking the key 1.4840 support level. EUR/JPY also fell heavily below 136 yen. September Private Loans forecast at -0.3% was at expectations. Overall the EUR/USD traded with a low of 1.4770 and a high of 1.4928 before closing at 1.4810. Looking ahead, German Import prices forecast at -0.6% vs. 1.3% previously.

The Japanese Yen (JPY) gained across the board on increasing risk aversion and a drop in US yields after a strong treasury auction overnight. USD/JPY slipped from the 92 figure and EUR/JPY and AUD/JPY were under pressure. Overall the USDJPY traded with a low of 91.61 and a high of 92.33 before closing the day around 92.25 in the New York session. Update September Retail Sales -1.4%, forecast at -1.6% vs. -1.8% y/y previously.

The Sterling (GBP) continued to find strength as traders ignored the rest of the market and supported the pound. EUR/GBP continued lower after October CBI Distributive Trades are forecast at 5 vs. 3 previously, came in strong at 8. Overall the GBP/USD traded with a low of 1.6286 and a high of 1.6440 before closing the day at 1.6380 in the New York session.

The Australian Dollar (AUD) struggled above 0.9200 as the Euro fell and AUD/JPY also came under pressure. A rise in Oil failed to offset and the pair tested 0.9120 support again. Attention is still focused on RBA next Tuesday and CPI today. Overall the AUD/USD traded with a low of 0.9122 and a high of 0.9219 before closing the US session at 0.9160. UPDATE Q3 CPI 1.0% vs. 0.8% forecast.

Oil & Gold (XAU) was weak again testing support in the low 1030's. Overall trading with a low of USD$1032 and high of USD$1043 before ending the New York session at USD$1038 an ounce. Gained as the market rebounded from two days of heavy selling. Crude Oil was up $0.87 ending the New York session at $79.55.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.4762	1.4770	1.4820	1.5083	1.5163
USD/JPY	90.49	91.28	91.70	92.53	93.30
GBP/USD	1.6120	1.6241	1.6380	1.6533	1.6693
AUD/USD	0.8985	0.9113	0.9170	0.9347	0.9476
XAU/USD	1000.00	1024	1040.00	1067.00	1070.00
OIL/USD	77.50	78.00	79.60	80.00	81.10

Euro – 1.4820

Initial support at 1.4770 (Oct 27 low) followed by 1.4762 (Oct 13 low). Initial resistance is now located at 1.5083 (Oct 21 high) followed by 1.5163 (76.4% retrace 1.6038 - 1.2330)

Yen – 91.70

Initial support is located at 91.18 (Oct 23 low) followed by 90.49 (Oct 21 low). Initial resistance is now at 92.53 (Sept 21 high) followed by 93.3 (Sept 7 high).

Pound – 1.6380

Initial support at 1.6241 (Oct 19 low) followed by 1.6120 (Oct 8 low). Initial resistance is now at 1.6533 (61.8% retrace 1.7043 - 1.5708) followed by 1.6693 (Oct 23 high).

Australian Dollar – 0.9170

Initial support at 0.9113 (Oct 19 low) followed by the 0.8985 (Oct 12 low). Initial resistance is now at 0.9347 (Aug 4 08 high) followed by 0.9476 (Jul 31 08 high).

Gold – 1040

Initial support at 1024 (Sep 17 low) followed by 1000 (Big Figure). Initial resistance is now at 1067 (Oct 20 high) followed by 1070 (Oct 14 high).

Oil – 79.70

Initial support at 78.00 (Intraday Support) followed by 77.50 (Intraday support). Initial resistance is now at 80.00 ( Major Level) followed by 82.00 (October High).

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Daily Forex Commentary: Oct 27 2009

FOREX Daily Outlook by Easy-Forex.com

US Stocks Slide

CURRENCY TRADING SUMMARY – 27th October (00:30GMT)

U.S. Dollar Trading (USD) gained across the board as US stocks came under continued pressure and reports that China should diversify its reserves into Euro's and Yen was discounted as personal opinion of the author. Banking stocks led the market lower. In US Stocks, DJIA -104 points closing at 9867, S&P -12 points closing at 1066 and NASDAQ -12 points closing at 2141. Looking ahead, August Case Shiller House prices are forecast at 0.7% vs. 1.6% previously. Also released, CB Consumer Confidence forecast at 53.1 in October.

The Euro (EUR) fell heavily after forming a double top at 1.5060 earlier in the Asian session. Gains were on the back of the Chinese report which when later discounted caused the Euro to pare back and this turned into a rout as US stocks slumped for a second day. Overall the EUR/USD traded with a low of 1.4844 and a high of 1.5063 before closing at 1.4870. September Private Loans is forecast at -0.3% vs. 0.1%.

The Japanese Yen (JPY) held above 92 Yen against the Dollar but the crosses slumped as risk aversion ticked higher on mounting stock losses. GBP/JPY held up well shrugging off risk aversion as GBP rebounded from Fridays sell off. Overall the USDJPY traded with a low of 91.58 and a high of 92.29 before closing the day around 92.25 in the New York session. Looking ahead, September Retail Sales are forecast at -1.6% vs. -1.8% y/y.

The Sterling (GBP) managed to eek out small gains as the market recovered both on the crosses and the major during the day. Speculation the sell off on Friday was overdone and that the GDP numbers would be revised higher helped sustain gains. Overall the GBP/USD traded with a low of 1.6253 and a high of 1.6396 before closing the day at 1.6320 in the New York session. Looking ahead, October CBI Distributive Trades are forecast at 5 vs. 3 previously.

The Australian Dollar (AUD) was hit hard by the USD strength and large falls in Commodities. Q3 PPI was also weak at 0.1% vs. 0.3% forecast as the high Aussie dollar helped stem inflation. CPI numbers tomorrow are very important as the market focuses on the speed of RBA rate rises. Overall the AUD/USD traded with a low of 0.9126 and a high of 0.9277 before closing the US session at 0.9160.

Oil & Gold (XAU) Gold fell back heavily as Oil remained heavy. Overall trading with a low of USD$1037 and high of USD$1060 before ending the New York session at USD$1038 an ounce. Was under pressure as stocks fell and sentiment soured. Crude Oil was down -1.82 ending the New York session at $88.68.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.4762	1.4829	1.4875	1.5083	1.5163
USD/JPY	90.49	91.28	92.25	92.53	93.30
GBP/USD	1.6120	1.6241	1.6320	1.6693	1.6742
AUD/USD	0.8985	0.9113	0.9170	0.9347	0.9476
XAU/USD	1036.00	1037	1038.00	1067.00	1070.00
OIL/USD	77.50	78.50	78.60	80.00	82.00

Euro – 1.4875

Initial support at 1.4829 (Oct 19 low) followed by 1.4762 (Oct 13 low). Initial resistance is now located at 1.5083 (Oct 21 high) followed by 1.5163 (76.4% retrace 1.6038 - 1.2330)

Yen – 92.25

Initial support is located at 91.18 (Oct 23 low) followed by 90.49 (Oct 21 low). Initial resistance is now at 92.53 (Sept 21 high) followed by 93.3 (Sept 7 high).

Pound – 1.6320

Initial support at 1.6241 (Oct 19 low) followed by 1.6120 (Oct 8 low). Initial resistance is now at 1.6693 (Oct 23 high) followed by 1.6743 (Sept 11 high).

Australian Dollar – 0.9170

Initial support at 0.9113 (Oct 19 low) followed by the 0.8985 (Oct 12 low). Initial resistance is now at 0.9347 (Aug 4 08 high) followed by 0.9476 (Jul 31 08 high).

Gold – 1038

Initial support at 1037 (Oct 26 low) followed by 1036 (Oct 7 low). Initial resistance is now at 1067 (Oct 20 high) followed by 1070 (Oct 14 high).

Oil – 78.60

Initial support at 78.50 (Intraday Support) followed by 77.50 (Intraday support). Initial resistance is now at 80.00 ( Major Level) followed by 82.00 (October High).

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Daily Forex Commentary: Oct 26 2009

FOREX Daily Outlook by Easy-Forex.com

USD finding support

CURRENCY TRADING SUMMARY – 26th October (00:30GMT)

U.S. Dollar Trading (USD) was on the front foot as risk appetite waned and profit taking on the most pairs saw the USD gain across the board. The Euro struggled to stay above 1.5000 and USD/JPY made fresh multi-month highs above the 92 Yen level. September Existing Home Sales +9.4% vs. 5% forecast. In US Stocks, DJIA -109 points closing at 9972, S&P -13 points closing at 1079 and NASDAQ -10 points closing at 2154.

The Euro (EUR) had a mixed day but fell in the end with US stocks closing at 1.5000 but struggled to break higher. Weighing the single currency down was heavy losses in the GBP although EUR/JPY did manage to support as USD/JPY rallied. October IFO Business Climate at 91.9 vs forecast at 92. Overall the EUR/USD traded with a low of 1.4993 and a high of 1.5060 before closing at 1.5000.

The Japanese Yen (JPY) traded above 92 as the rally extended. Talk of the differing medium term outlook on interest rates are helping the USD to become the higher yielding currency. Also helping the Yen to weaken is the continued reemergence of the carry trade. Overall the USDJPY traded with a low of 91.29 and a high of 92.12 before closing the day around 92.07 in the New York session.

The Sterling (GBP) was sold aggressively as Q3 GDP remained negative leaving the UK in recession. The pair fell over 3 big figures giving up a week of gains. Q3 GDP -0.4% vs. 0.2% forecast. Overall the GBP/USD traded with a low of 1.6300 and a high of 1.6693 before closing the day at 1.6308 in the New York session.

The Australian Dollar (AUD) slipped on profit taking and risk aversion falling back to supports at 0.9200. AUD/JPY remained well supported as it ignored the falls in New York. Attention is turning to the RBA meeting in November and whether they will raise and by how much. Overall the AUD/USD traded with a low of 0.9200 and a high of 0.9295 before closing the US session at 0.9220.

Oil & Gold (XAU) Gold fell with USD strength but kept to the recent range. Overall trading with a low of USD$1051 and high of USD$1068 before ending the New York session at USD$1053 an ounce. Oil fell back to $80 a barrel supports. Crude Oil was down -0.69 ending the New York session at $80.50.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.4762	1.4829	1.5010	1.5083	1.5163
USD/JPY	90.08	90.78	92.10	92.53	93.30
GBP/USD	1.6120	1.6241	1.6320	1.6742	1.6831
AUD/USD	0.8985	0.9113	0.9220	0.9347	0.9476
XAU/USD	1043.00	1048	1053.00	1067.00	1070.00
OIL/USD	78.50	79.80	79.90	82.00	82.80

Euro – 1.5010

Initial support at 1.4829 (Oct 19 low) followed by 1.4762 (Oct 13 low). Initial resistance is now located at 1.5083 (Oct 21 high) followed by 1.5163 (76.4% retrace 1.6038 - 1.2330)

Yen – 92.10

Initial support is located at 90.78 (Oct 22 low) followed by 90.08 (Oct 20 low). Initial resistance is now at 92.53 (Sept 21 high) followed by 93.3 (Sept 7 high).

Pound – 1.6320

Initial support at 1.6241 (Oct 19 low) followed by 1.6120 (Oct 8 low). Initial resistance is now at 1.6742 (Sept 11 high) followed by 1.6831 (Aug 7 high).

Australian Dollar – 0.9220

Initial support at 0.9113 (Oct 19 low) followed by the 0.8985 (Oct 12 low). Initial resistance is now at 0.9347 (Aug 4 08 high) followed by 0.9476 (Jul 31 08 high).

Gold – 1053

Initial support at 1048 (Oct 21 low) followed by 1043 (Oct 16 low). Initial resistance is now at 1067 (Oct 20 high) followed by 1070 (Oct 14 high).

Oil – 79.90

Initial support at 79.80 (Pivot Point) followed by 78.50 (Intraday support). Initial resistance is now at 82 (Oct 21 high) followed by 82.80 (Fib Projection).

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Daily Forex Commentary: Oct 23 2009

FOREX Daily Outlook by Easy-Forex.com

Stocks Soar in US

CURRENCY TRADING SUMMARY – 23rd October (00:30GMT)

U.S. Dollar Trading (USD) gained during the day as hedge fund sales of long NZD, AUD positions helped the Dollar. A sharp reversal in US stocks put the USD on the back foot with the EURO regaining the 1.5000 level. Weekly Jobless Claims at 531k vs. 515k previously. In US Stocks, DJIA +131 points closing at 10081, S&P +11 points closing at 1092 and NASDAQ +14 points closing at 2165. Looking ahead, September Existing Home Sales forecast at 5.35mln vs. 5.1mln previously.

The Euro (EUR) fell as Asian and European stocks suffered heavy losses but was always supported. 1.4950 contained the losses and the pair regains the 1.5000 level with the rise in US stocks. August Current Account was -5bn vs. 9.3bn previously. Overall the EUR/USD traded with a low of 1.4942 and a high of 1.5040 before closing at 1.5010. Looking ahead, October IFO Business Climate forecast at 92 vs. 91.3 previously.

The Japanese Yen (JPY) traded at month highs as the pair turned more and more positive with USD/JPY testing 91.60. EUR/JPY traded above 137 Yen and GBP/JPY recovered from a sell off in Europe. September Trade Balance was at 530bn vs. 630bn previously. Overall the USDJPY traded with a low of 90.87 and a high of 91.71 before closing the day around 91.30 in the New York session.

The Sterling (GBP) came under pressure as more talked of QE expansion spooked the market and September retails sales were flat vs. +0.5% forecast. The rise in US sales let the market resume tracking higher and the pair finished just under month highs. Overall the GBP/USD traded with a low of 1.6488 and a high of 1.6638 before closing the day at 1.6610 in the New York session. Looking ahead, Q3 GDP forecast at 0.2% vs. -0.6%.

The Australian Dollar (AUD) fell heavily from 0.9300 to 0.9200 as stock losses added a bit of risk aversion in the European market but the 0.9180 level held firm and the pair finished the US session on the front foot. Overall the AUD/USD traded with a low of 0.9186 and a high of 0.9299 before closing the US session at 0.9280.

Oil & Gold (XAU) quiet movements dipping and then recovering with US stocks. Overall trading with a low of USD$1051 and high of USD$1061 before ending the New York session at USD$1060 an ounce. Oil consolidated the gains from Wednesday. Crude Oil was down -0.32 ending the New York session at $81.05.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.4762	1.4829	1.5035	1.5046	1.5083
USD/JPY	88.84	89.28	91.30	91.71	92.53
GBP/USD	1.6241	1.6329	1.6620	1.6658	1.6742
AUD/USD	0.8985	0.9113	0.9280	0.9347	0.9476
XAU/USD	1043.00	1048	1060.00	1067.00	1070.00
OIL/USD	79.50	80.00	81.20	82.00	82.50

Euro – 1.5035

Initial support at 1.4829 (Oct 19 low) followed by 1.4762 (Oct 13 low). Initial resistance is now located at 1.5046 (Oct 21 high) followed by 1.5083 (August 11 2008 high)

Yen – 91.30

Initial support is located at 89.28 (Oct 15 low) followed by 88.84 (Oct 14 low). Initial resistance is now at 91.71 (Oct 22 high) followed by 92.53 (Sept 21 high).

Pound – 1.6620

Initial support at 1.6329 (Oct 19 low) followed by 1.6241 (Sept 19 low). Initial resistance is now at 1.6658 (Sept 15 high) followed by 1.6742 (Sept 11 high).

Australian Dollar – 0.9280

Initial support at 0.9113 (Oct 19 low) followed by the 0.8985 (Oct 12 low). Initial resistance is now at 0.9347 (Aug 4 08 high) followed by 0.9476 (Jul 31 08 high).

Gold – 1060

Initial support at 1048 (Oct 21 low) followed by 1043 (Oct 16 low). Initial resistance is now at 1067 (Oct 20 high) followed by 1070 (Oct 14 high).

Oil – 81.20

Initial support at 80 (key level) followed by 79.50 (Previous Resistance). Initial resistance is now at 82 (Oct 21 high) followed by 82.50 (Fib Projection).

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Daily Forex Commentary: Oct 21 2009

FOREX Daily Outlook by Easy-Forex.com

Market Jitters Again

CURRENCY TRADING SUMMARY – 21st October (00:30GMT)

U.S. Dollar Trading (USD) the USD was on the back foot in Asia as hawkish RBA comments sent AUD and EURO to fresh highs. Weak US stocks on the back of disappointing Housing Starts at 0.59m vs. 0.61m forecast. The USD gained as equities fell but Q3 Earnings were very strong in general so dips may prove short lived. In US Stocks, DJIA -50 points closing at 10041, S&P -6 points closing at 1091 and NASDAQ -19 points closing at 2163. Looking ahead, Crude Oil Inventories is forecast at 0.9m vs. 0.4m previously.

The Euro (EUR) failed to take out the key Psychological level of 1.5000 in Asia and as the Stock mood darkened the pair slipped back below 1.4900 briefly where it found solid support. German PPI fell -0.5% vs. -0.1% forecast. Overall the EUR/USD traded with a low of 1.4883 and a high of 1.4995 before closing at 1.4930.

The Japanese Yen (JPY) strengthened against the Dollar and most pairs as risk aversion ticked higher and the market took profit on recent longs. USD/JPY slipped lower in Asia on comments from FinMin Fujii that the USD weakness is due to the easy monetary policy. Overall the USDJPY traded with a low of 90.08 and a high of 91.07 before closing the day around 90.70 in the New York session.

The Sterling (GBP) had another volatile day although it was in a relatively tight range for the Pound. Strength at the start of European session was reversed as news of a major sale of Barclay shares from Qatar did the rounds. September Public Sector Net Borrowing forecast at 15.3bn came in at 14.81bn slightly better. Overall the GBP/USD traded with a low of 1.6329 and a high of 1.6489 before closing the day at 1.6360 in the New York session. Looking ahead, October BoE Minutes forecast at 9-0.

The Australian Dollar (AUD) broke above 0.9300 on the back of hawkish comments from the RBA meeting in October where they justified raising rates from 3% to 3.25%. The market though was overcome from larger forces later in the day and follow the Euro lower before bouncing into the US close to Finnish on a strong footing. Overall the AUD/USD traded with a low of 0.9183 and a high of 0.9313 before closing the US session at 0.9230.

Oil & Gold (XAU) followed the USD movement, weakening on the day. Overall trading with a low of USD$1052 and high of USD$1067 before ending the New York session at USD$1055 an ounce. Oil pushed higher above $80 a barrel briefly before falling heavily in the US session. Crude Oil was down $0.52 ending the New York session at $79.09.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.4762	1.4829	1.4940	1.5000	1.5083
USD/JPY	88.84	89.28	90.70	91.63	92.53
GBP/USD	1.6126	1.6241	1.6390	1.6568	1.6742
AUD/USD	0.8985	0.9113	0.9240	0.9347	0.9476
XAU/USD	1036.00	1043	1056.00	1070.00	1100.00
OIL/USD	77.28	78.00	78.80	80.00	80.70

Euro – 1.4940

Initial support at 1.4829 (Oct 19 low) followed by 1.4762 (Oct 13 low). Initial resistance is now located at 1.5000 (Psychological Round Number) followed by 1.5083 (Psychological Level)

Yen – 90.70

Initial support is located at 89.28 (Oct 15 low) followed by 88.84 (Oct 14 low). Initial resistance is now at 91.63 (Sept 24 high) followed by 92.53 (Sept 21 high).

Pound – 1.6390

Initial support at 1.6241 (Oct 19 low) followed by 1.6126 (Sept 30 low). Initial resistance is now at 1.6568 (Sept 17 high) followed by 1.6742 (Sept 11 high).

Australian Dollar – 0.9240

Initial support at 0.9113 (Oct 19 low) followed by the 0.8985 (Oct 12 low). Initial resistance is now at 0.9347 (Aug 4 08 high) followed by 0.9476 (Jul 31 08 high).

Gold – 1056

Initial support at 1043 (Oct 16 low) followed by 1036 (Oct 7 low). Initial resistance is now at 1070 (Oct 14 high) followed by 1100 (Psychological level).

Oil – 78.80

Initial support at 78 (Previous support) followed by 77.28 (Previous Support). Initial resistance is now at 80.0 (Major level) followed by 80.70 (Fib Projection).

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Daily Forex Commentary: Oct 20 2009

FOREX Daily Outlook by Easy-Forex.com

Risk Appetite turned back on

CURRENCY TRADING SUMMARY – 20th October (00:30GMT)

U.S. Dollar Trading (USD) resumed weakening overnight as stock buying resumed on speculation that Q3 results will be robust. There was little data out and Bernanke's speech was failed to offer the dollar support and if anything added to its woes by stating china must let there currency appreciate against the dollar to help rebalance the global economy. In US Stocks, DJIA +96 points closing at 1092, S&P +10 points closing at 1097 and NASDAQ +19 points closing at 2176. Looking ahead, September PPI forecast at 0.1% vs. 0.2% previously. September Housing Starts forecast at 0.61Mln vs. 0.598Mln previously.

The Euro (EUR) dipped in Asia on weak stocks but this move below 1.4850 proved fleeting and the pair rallied in Europe as concern about a Eurogroup meeting mentioning the recent strength of the Euro proved unfounded. Risk appetite and EUR/JPY buying underpinned. Overall the EUR/USD traded with a low of 1.4827 and a high of 1.4963 before closing at 1.4940. Looking ahead, German September PPI forecast at -0.1% vs. 0.5% previously.

The Japanese Yen (JPY) broad USD weakness overpowered cross selling of the Yen to send the USD/JPY slightly lower. Support in the low 90 yen area proved solid and the pair kept to a quiet range. AUD/JPY leaped to fresh year highs and EUR/JPY found solid support below 135 Yen. BOJ Minutes showed that the Central Bank was considering paring back QE support. Overall the USDJPY traded with a low of 90.37 and a high of 91.14 before closing the day around 90.60 in the New York session.

The Sterling (GBP) came under pressure at the start of Europe as attention turned to possible QE expansion by the BoE. The selling was short lived and the market pushed higher once again as US stocks rallied hard. October Rightmove HPI at 2.8% vs. 0.6% previously helped to improve sentiment. Overall the GBP/USD traded with a low of 1.6241 and a high of 1.6424 before closing the day at 1.6370 in the New York session. Looking ahead, September Public Sector Net Borrowing forecast at 15.3bn vs. 16.12bn previously.

The Australian Dollar (AUD) fell initially with Asian stocks and the Euro but found solid support and rebounded to fresh year highs above 0.9280. Attention has been given to the RBA and the speed at which the central bank will increase interest rates. AUD/JPY buying and strong commodities underpinned. Overall the AUD/USD traded with a low of 0.9113 and a high of 0.9293 before closing the US session at 0.9280. Looking ahead, RBA minutes Released.

Oil & Gold (XAU) rebounded above $1060 on USD weakness. Overall trading with a low of USD$1048 and high of USD$1064 before ending the New York session at USD$1061 an ounce. Oil pushed higher above $79 a barrel closing in on the key $80 level. Crude Oil was up $1.08 ending the New York session at $79.60.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.4674	1.4839	1.4940	1.4980	1.5000
USD/JPY	88.84	89.24	90.60	91.63	92.53
GBP/USD	1.5903	1.6252	1.6370	1.6468	1.6568
AUD/USD	0.8866	0.8985	0.9270	0.9347	0.9476
XAU/USD	1015.00	1036	1061.00	1070.00	1100.00
OIL/USD	77.28	78.00	79.60	80.00	80.70

Euro – 1.4940

Initial support at 1.4839 (Oct 14 low) followed by 1.4674 (Oct 9 low). Initial resistance is now located at 1.4980 (Aug 13 high) followed by 1.5000 (Psychological Level)

Yen – 90.60

Initial support is located at 89.28 (Oct 16 low) followed by 88.84 (Oct 14 low). Initial resistance is now at 91.63 (Sept 13 high) followed by 92.53 (Sept 21 high).

Pound – 1.6370

Initial support at 1.6252 (Sept 28 low) followed by 1.5903 (Oct 14 low). Initial resistance is now at 1.6468 (Sept 23 high) followed by 1.6568 (Sept 23 high).

Australian Dollar – 0.9270

Initial support at 0.8985 (Oct 12 low) followed by the 0.8866 (Oct 7 low). Initial resistance is now at 0.9347 (Aug 4 08 high) followed by 0.9476 (Jul 31 08 high).

Gold – 1061

Initial support at 1036 (Oct 7 low) followed by 1015 (Oct 6 low). Initial resistance is now at 1070 (Oct 14 high) followed by 1100 (Psychological level).

Oil – 79.60

Initial support at 78 (Previous support) followed by 77.28 (Previous Support). Initial resistance is now at 80.0 (Major level) followed by 80.70 (Fib Projection).

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Daily Forex Commentary: Oct 19 2009

FOREX Daily Outlook by Easy-Forex.com

Dollar Rebounds as Mood Sours

CURRENCY TRADING SUMMARY – 19th October (00:30GMT)

U.S. Dollar Trading (USD) gained for the first time during the week as US stocks came off year highs. Bank of America led the market lower after disappointing Q3 Earnings. October University of Michigan fell to 69.4 vs. 73.5 previously. US Industrial Production rose 0.7% in September. In US Stocks, DJIA -67 points closing at 9995, S&P -9 points closing at 1087 and NASDAQ -16 points closing at 2156. Looking ahead, FED Chairman Bernanke speaks.

The Euro (EUR) the Euro topped out at 1.4950 and fell back to supports at 1.4850 before staging a minor recovery into the close. EU Trade Balance was 1bn vs. 5.1bn forecast. EUR/JPY tracked the major lower but the big move was seen on the EUR/GBP which continued to slump on a Pound resurgence. Overall the EUR/USD traded with a low of 1.4850 and a high of 1.4967 before closing at 1.4905.

The Japanese Yen (JPY) consolidated losses with the stock market pulling back supporting the Yen. GBP/JPY buying continued although selling above 149 Yen contained. AUD/JPY pulled back after 10 days of rallies. USD/JPY struggled above 91 Yen. Overall the USDJPY traded with a low of 90.60 and a high of 91.33 before closing the day around 90.85 in the New York session. Looking ahead, BOJ Minutes released.

The Sterling (GBP) continued to rebound across the board as crosses helped lift the major higher. GBP/JPY buying and EUR/GBP selling the major source of support. 1.6400 capped in the European session and weak US stocks prompted profit taking. Overall the GBP/USD traded with a low of 1.6250 and a high of 1.6400 before closing the day at 1.6350 in the New York session. UPDATE October Rightmove HPI at 2.8% vs. 0.6% previously.

The Australian Dollar (AUD) tapped out above 0.9250 before falling steeply with US stocks prompting heavy profit taking. GBP/AUD continued to rally impressively from 25 year lows recently. AUD/NZD continues to get support on dips as the market focuses on differing rate outlooks. Overall the AUD/USD traded with a low of 0.9130 and a high of 0.9272 before closing the US session at 0.9170.

Oil & Gold (XAU) continued to suffer from heavy profit taking for a second day but found support at $1045 to finish above $1050. Overall trading with a low of USD$1043 and high of USD$1057 before ending the New York session at USD$1053 an ounce. Extended gains as the market remained extremely bullish shrugging off stock market weakness. Crude Oil was up $0.95 ending the New York session at $78.50.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.4674	1.4839	1.4850	1.4980	1.5000
USD/JPY	88.84	89.24	90.85	91.63	92.53
GBP/USD	1.5903	1.6252	1.6300	1.6468	1.6568
AUD/USD	0.8866	0.8985	0.9120	0.8347	0.9476
XAU/USD	1015.00	1036	1049.00	1070.00	1100.00
OIL/USD	75.22	76.45	78.40	78.70	80.00

Euro – 1.4850

Initial support at 1.4839 (Oct 14 low) followed by 1.4674 (Oct 9 low). Initial resistance is now located at 1.4980 (Aug 13 high) followed by 1.5000 (Psychological Level)

Yen – 90.85

Initial support is located at 89.28 (Oct 16 low) followed by 88.84 (Oct 14 low). Initial resistance is now at 91.63 (Sept 13 high) followed by 92.53 (Sept 21 high).

Pound – 1.6300

Initial support at 1.6252 (Sept 28 low) followed by 1.5903 (Oct 14 low). Initial resistance is now at 1.6468 (Sept 23 high) followed by 1.6568 (Sept 23 high).

Australian Dollar – 0.9120

Initial support at 0.8985 (Oct 12 low) followed by the 0.8866 (Oct 7 low). Initial resistance is now at 0.9347 (Aug 4 08 high) followed by 0.9476 (Jul 31 08 high).

Gold – 1049

Initial support at 1036 (Oct 7 low) followed by 1015 (Oct 6 low). Initial resistance is now at 1070 (Oct 14 high) followed by 1100 (Psychological level).

Oil – 78.40

Initial support at 76.45 (Fib Support) followed by 75.22 (Previous Support). Initial resistance is now at 78.70 (Fib Resistance) followed by 80 (Major level).

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Daily Forex Commentary: Oct 16 2009

FOREX Daily Outlook by Easy-Forex.com

Oil higher, AUD still commanding

CURRENCY TRADING SUMMARY – 16^th October (00:30GMT)

U.S. Dollar Trading (USD) was whippy in trading on Thursday mixed against a number of majors, and posted rebounds against XAU. On the data front the initial jobless claims fell by 10k to 514k, coinciding with 10 month lows whilst the big surprise was the US Empire manufacturing index expanding to 34 from 24 in October (five year highs). In U.S share markets the DJIA rose by 47 pt (0.5%) whilst the NASDAQ was also up by 0.1%.

The Euro (EUR) set fresh 2009 highs on Thursday of 1.4968 before falling on the back of declining Inflation figures (-0.3%) in the month of September adding to expectations that the ECB would hold rates. In his speech President Trichet stated that the Euro was not designed to be the Global Reserve currency and that the US should continue to endorse the dollar through its policies. Overall the Euro trade with a low of 1.4850 and a high of 1.4965 before closing the day at 1.4935.

The Japanese Yen (JPY) was pressured by risk sentiment and Asian equities rally with the Nikkei closing up by 176 points, which encouraged investors to flee out of the JPY and purchase high yielding. Overall the USDJPY traded with a low of 89.35 and a high of 90.75 before closing the day at 90.60.

The Sterling (GBP) was sharply higher as BoE Fischer suggested that a pause in the asset purchase program was eminent, greatly reducing odds that the BoE will extend in November. Overall the GBPUSD traded with a low of 1.5990 and a high of 1.6298 before closing the day at 1.6270.

The Australian Dollar (AUD) set new 14 month highs of 0.9271 once more in Asia on Friday on reported AUDJPY demand in Tokyo. On Thursday morning the RBA Governor Stevens was hawkish once more indicating that interest rates will move to more normal level as the economy recovers. The AUDUSD traded with a low of 0.9150 and a high of 0.9225 before closing the day at 0.9195

Oil & Gold (XAU) XAU fell on Thursday by as much as US$14.10 to US$1050.60 as a result of profit taking. Oil also fell by US$2.40 to US$77.58 a barrel a one year high.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.4674	1.4839	1.4950	1.4980	1.5000
USD/JPY	87.13	88.01	90.65	91.63	92.53
GBP/USD	1.5708	1.5903	1.6373	1.6387	1.6468
AUD/USD	0.8866	0.8985	0.9255	0.9347	0.9476
XAU/USD	1015.7	1036.9	1053.40	1070.80	1100.00
OIL/USD	73.66	75.70	78.00	78.88	80.02

Euro – 1.4950

Initial support at 1.4839 (Oct 14 low) followed by 1.4674 (Oct 9 low). Initial resistance is now located at 1.4980 (Aug 13 2008 high) followed by 1.500 (Psych Level)

Yen – 90.65

Initial support is located at 88.01 (Oct 7 low) followed by 87.13 (Jan 21 low). Initial resistance is now at 91.63 (Sep 24 high) followed by 92.53 (Sept 21 high).

Pound – 1.6373

Initial support at 1.5903 (Oct 14 low) followed by 1.5708 (Oct 13 low). Initial resistance is now at 1.6387 (Sep 24 high) followed by 1.6468 (Sep 23 high).

Australian Dollar – 0.9190

Initial support at 0.8985 (Oct 12 low) followed by the 0.8866 (Oct 7 low). Initial resistance is now at 0.9347 (Aug 4 ’08 high) followed by 0.9637 (July 24 high).

Gold – 1053.40

Initial support at 1036.9 (Oct 7 low) followed by 1015.7 (Oct 7 low). Initial resistance is now at 1070.80 (14 Oct high) followed by 1100 (Psych Level).

Oil – 75.85

Initial support at 75.70 followed by 73.66. Initial resistance is now at 78.88 followed by 80.02

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Daily Forex Commentary: Oct 14 2009

FOREX Daily Outlook by Easy-Forex.com

Earnings season stalls equity market rally. XAU sets fresh record high.

CURRENCY TRADING SUMMARY – 14^th October (00:30GMT)

U.S. Dollar Trading (USD) was weakened considerably on Tuesday as Russian Finance Minister said he expected the diversification of reserves to continue. Any further downside was limited as Equity markets in the US failed to rally prompting a temporary risk aversion reaction, hence the USD was able to pair back much of its losses. Disappointing readings in profit earnings and downgrading in Goldman Sachs to neutral by an influential analyst ensured that the risk appetite was limited in the North American session. The DJIA closed slightly lower by -14.74 points (-0.15%) whilst the NASDAQ was slightly higher by 0.75 pts (+0.04%). Key Data out of the US on Wednesday include the FOMC meeting Minutes and Retail Sales.

The Euro (EUR) set fresh 2009 highs on Tuesday despite a disappointing German ZEW survey declining to 56 from the previous 57.7 for the month of October, which is likely to keep pressure on the ECB in maintaining the flat monetary policy. However comments by Russian FinMin that diversification of reserves away from the USD were likely to continue ensured large demand on the single currency. Overall the EUR traded with a low of 1.4757 and a high of 1.4876 before closing the day at 1.4855. Industrial Production data is due out of the EZ on Wednesday, expected to see a rise of 0.9% versus previous -0.3%.

The Japanese Yen (JPY) gained as heavy longs on the AUDJPY and the EURJPY were paired for profits on Tuesday. Surprisingly, reports the North Korea were poised to launch short range missiles had little impact. The Yen was further supported following calls by FinMin Fujii for Government to cut spending plans in 2010/11. Overall the USDJPY traded with a low of 89.41 and a high of 90.19 before closing the day at 89.70. The BoJ conclude their two day meeting widely expected to hold with focus on the Press Conference as the market looks for indication on ending corporate buying and any mention of concern surrounding the JPY strength.

The Sterling (GBP) was stronger initially on improving UK RICS Housing (at 22, two year high) and Retail Sales figures (2.8% for September), although upside momentum was limited following speculation that UK inflation had been at its lowest level in 5 years. Overall the GBPUSD traded at a low of 1.5705 and a high of 1.5938 before closing the day at 1.5919. Jobs data headlines the UK today with Unemployment expected to rise to 8.0% from previous 7.9%, focus will also be placed on Claimant change forecasted to rise to 25.1K from previous 24.4K

The Australian Dollar (AUD) set a fresh 14 month high before profit taking and the Equity market rally in the US stalled the Aussie. Upside momentum was also hindered as speculators fear that recent rallies have been excessive. Overall the AUDUSD traded with a low of 0.9030 and a high of 0.9126 before closing the day at 0.9086.

Oil & Gold (XAU) XAU set fresh record highs of 1069.70 on Tuesday capitalizing on a weaker US dollar and rally in Oil Prices. Oil was buoyed by OPEC raising it demand by 200K barrels a month in 2010. As a result Oil rose by US$0.88 a barrel to US$74.15.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.4481	1.4646	1.4845	1.4908	1.4980
USD/JPY	88.01	89.35	89.85	91.63	92.53
GBP/USD	1.5296	1.5450	1.5915	1.6120	1.6207
AUD/USD	0.8866	0.8985	0.9075	0.9130	0.9206
XAU/USD	1015.70	1036.90	1063.50	1069.70	1100.00
OIL/USD	71.21	72.15	74.72	73.94	74.79

Euro – 1.4845

Initial support at 1.4646 (Oct 6 low) followed by 1.4481 (Oct 2 low). Initial resistance is now located at 1.4908 (Aug 22 high) followed by 1.4980 (August 13 ’08 high)

Yen – 89.85

Initial support is located at 89.35 (Oct 12 low) followed by 88.01 (Oct 7 low). Initial resistance is now at 91.63 (sep 24 high) followed by 92.53 (Sept 21 high).

Pound – 1.5915

Initial support at 1.5450 (May 20 low) followed by 1.5296 (May 19 low). Initial resistance is now at 1.6120 (Oct 8 high) followed by 1.6207 (23.6% retracement 1.3503 – 1.7043).

Australian Dollar – 0.9075

Initial support at 0.8985 (Oct 12 low) followed by the 0.8866 (Oct 7 low). Initial resistance is now at 0.9130 (Aug 07 ’08 high) followed by 0.9206 (Aug 14 '08 high).

Gold – 1063.70

Initial support at 1036.90 (Oct 7 low) followed by 1015.70 (Oct 6 low). Initial resistance is now at 1069.70 (13 Oct high) followed by 1100 (Psych Level).

Oil – 74.72

Initial support at 72.15 followed by 71.21. Initial resistance is now at 73.94 followed by 74.79.

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Daily Forex Commentary: Oct 12 2009

FOREX Daily Outlook by Easy-Forex.com

Bernanke is ready if the economy is.

CURRENCY TRADING SUMMARY – 12^th October (00:30GMT)

U.S. Dollar Trading (USD) traded higher against a number of majors as Fed Chairman Bernanke signaled that rates would tighten once the economy improves, although accommodative policy would likely be needed for an extended period. Hence the thought of exit strategies being at the forefront of the Central Bank’s mind ensured the market propped up the USD. In US share markets the NASDAQ traded higher by 15.35 pts (+0.72%) whilst the DJIA also traded higher by 78.07 pts (+0.8%). Thin trading is expected on Monday due to Columbus Day holidays.

The Euro (EUR) edged lower following Bernanke comments and further weighed upon as a report showed German Exports had declined unexpectedly. This was also reflected in a narrowing of the German trade balance to 8.1 mln from previous 14.1 mln. Overall the EURUSD traded with a low of 1.4672 and a high of 1.4795 before closing the day at 1.4727.

The Japanese Yen (JPY) also traded lower versus the USD on the back of Bernanke comments once more. The Japanese Yen continues to trade near 9 month highs (despite bouncing on Friday) versus the dollar supported by views that the Japanese Government will not look to intervene in the near term. Overall the USDJPY traded with a low of 88.33 and a high of 89.88 before closing the day at 89.77. Japanese markets will be closed on Monday due to bank Holiday.

The Sterling (GBP) shrugged of an improvement in producer prices on Friday coming in at 0.4% (versus -0.1%) to continue to head lower versus the Dollar, as it followed suiteby Comments by the Federal Reserve that it was considering the timing of an exit strategy. Overall the GBP traded with a low of 1.5824 and a high of 1.6073 before closing the day at 1.5834.

The Australian Dollar (AUD) continued to trade near 14 month highs on Friday as Prime Minister Kevin Rudd said that an improvement in Unemployment (seen Thursday) could prompt the RBA to hike by 50 bpt in the November meeting, further fuelling the RBA hawkish comments seen post rate hike on Tuesday. Overall the AUDUSD traded with a low of 0.9010 and a high of 0.9080 before closing the day at 0.9040

Oil & Gold (XAU) XAU gave up some of its weekly gains on Friday falling US$7.70 an ounce to close at 1048.25 suffering on a broadly stronger USD. Further more, Oil traded higher as the International Energy Agency raised its outlook for Oil demand, trading higher by US$0.08 to US$71.77 a barrel.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.4481	1.4646	1.4736	1.4844	1.4908
USD/JPY	87.13	87.98	89.85	89.98	90.41
GBP/USD	1.5805	1.5859	1.5860	1.6126	1.6207
AUD/USD	0.8760	0.8866	0.9055	0.9130	0.9347
XAU/USD	1015.70	1036.90	1051.50	1061.55	1100.00
OIL/USD	69.85	70.81	71.05	72.54	73.31

Euro – 1.4736

Initial support at 1.4646 (Oct 6 low) followed by 1.4481 (Oct 2 low). Initial resistance is now located at 1.4844 (Sept 23 high) followed by 1.4908 (August 22 ’08 high)

Yen – 89.85

Initial support is located at 87.981 (Jan 23 low) followed by 87.13 (Jan 21 low). Initial resistance is now at 89.88 (Oct 5 high) followed by 90.41 (Sept 03 high).

Pound – 1.5860

Initial support at 1.5859 (Oct 7 low) followed by 1.5805 (Oct 2 low). Initial resistance is now at 1.6126 (Sep 30 high) followed by 1.6207 (23.6% retracement 1.3503 – 1.7043).

Australian Dollar – 0.9055

Initial support at 0.8866 (Oct 7 low) followed by the 0.8760 (Oct 5 low). Initial resistance is now at 0.9130 (Aug 07 ’08 high) followed by 0.9347 (Aug 04 '08 high).

Gold – 1051.50

Initial support at 1036.90 (Oct 7 low) followed by 1015.70 (Oct 6 low). Initial resistance is now at 1061.55 (08 Oct high) followed by 1100 (Psych Level).

Oil – 71.05

Initial support at 70.81 followed by 69.85. Initial resistance is now at 72.54 followed by 73.31.

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Daily Forex Commentary: Oct 9 2009

FOREX Daily Outlook by Easy-Forex.com

ECB and BoE hold rates.

CURRENCY TRADING SUMMARY – 9^th October (00:30GMT)

U.S. Dollar Trading (USD) fell on Thursday pressured by gains in US equities following a better than expected earnings forecast from Alcoa, improving risk appetite and outlook for recovery. In data specific news, Initial Jobless claims declined by 33k to 521k versus forecasted 545k. US share markets saw the DJIA up by 61.29 (+0.63%) whilst the NASDAQ was also higher by 11.42 points (+0.84%)

The Euro (EUR) rallied higher, supported by a positive reading in German Industrial Production and a decision by the ECB to leave monetary policy unchanged, with President Trichet that current levels were appropriate with it being too early to draw conclusions. Overall the EUR traded with a low of 1.4680 and a high of 1.4817 before closing the day at 1.4788. Looking ahead the German Trade and CPI are scheduled for release.

The Japanese Yen (JPY) traded higher versus the USD with growing confidence that the Japanese Government were unlikely to intervene at current levels. Overall the USDJPY traded with a low of 88.13 and a high of 88.71 before closing the day at 88.41.

The Sterling (GBP) saw the BoE also keep rates on hold, more importantly maintained the current level of asset purchases to 175 billion, although reviewing making the November meeting even more critical. The GBP traded with a low of 1.5948 and a high of 1.6121 before closing the day at 1.6075. Looking ahead, PPI and Trade Balance are out of the UK.

The Australian Dollar (AUD) set another 14 month high for the third consecutive day following an unexpected drop in Unemployment to 5.7% from 5.8%, with 40.6K Jobs growth. Overall the AUD traded with a low of 0.8899 and a high of 0.9090 before closing the day at 0.9062.

Oil & Gold (XAU) Gold soared once more hitting a record high of US$1062.70 as investors continue to take advantage of a weaker dollar. XAU closed up US$11.90 an ounce to US$1056.30. Oil also rose up by US$1.95 to US$71.52.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.4481	1.4581	1.4772	1.4844	1.4908
USD/JPY	87.13	87.98	88.76	89.98	90.41
GBP/USD	1.5771	1.5805	1.6050	1.6126	1.6207
AUD/USD	0.8647	0.8760	0.9045	0.9130	0.9347
XAU/USD	1000.95	1015.70	1049.50	1062.70	1100.00
OIL/USD	67.28	68.55	71.05	71.43	73.04

Euro – 1.4772

Initial support at 1.4581 (Oct 5 low) followed by 1.4467 (Oct 2low). Initial resistance is now located at 1.4844 (Sept 23 high) followed by 1.4908 (August 22 ’08 high)

Yen – 88.76

Initial support is located at 87.981 (Jan 23 low) followed by 87.13 (Jan 21 low). Initial resistance is now at 89.88 (Oct 5 high) followed by 90.41 (Sept 03 high).

Pound – 1.6050

Initial support at 1.5805 (Oct 2 low) followed by 1.5771 (Sep 28 low). Initial resistance is now at 1.6126 (Sep 30 high) followed by 1.6207 (23.6% retracement 1.3503 – 1.7043).

Australian Dollar – 0.9045

Initial support at 0.8760 (Oct 5 low) followed by the 0.8647 (Oct low). Initial resistance is now at 0.9130 (Aug 07 ’08 high) followed by 0.9347 (Aug 04 '08 high).

Gold – 1049.50

Initial support at 1015.70 (Oct 6 low) followed by 1000.95 (Oct 5 low). Initial resistance is now at 1062.70 (08 Oct high) followed by 1100 (Psych Level).

Oil – 71.05

Initial support at 68.55 followed by 67.28. Initial resistance is now at 71.43 followed by 73.04.

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Daily Forex Commentary: Oct 7 2009

FOREX Daily Outlook by Easy-Forex.com

RBA first to pull the trigger, as XAU trades at record high of 1,043

CURRENCY TRADING SUMMARY – 7^th October (00:30GMT)

U.S. Dollar Trading (USD) slipped to record lows versus Gold following speculation that Arab states were in secret meetings to trade Oil in non-Dollar denominated contracts, ending the use of USD pricing for the highly sought commodity. Reports in the Independent UK implied that a move to a basket of currencies were favoured, including the Euro, Yuan, Yen and Gold, were later denied by Russian, Kuwait and Saudi officials. Which did little to prevent the Dollar from slipping further against the commodity currencies. In US share markets, the DJIA gained 131.50 pts (+1.37%) whilst the NASDAQ also gained 19.43 points (+1.46%).

The Euro (EUR) took advantage of the USD weakness, adding to its post G7 weekend moves. Tuesdays move was largely on the back of the Independent newspaper report that Oil producing nations were in talks to cease pricing oil in USD with a shift to a basket of currencies including the Euro. The EUR also was boosted by further gains against the GBP following disappointing UK production figures, despite ECB officials downplaying chance of an early rate hike. The Euro traded with a low of 1.4644 and a high of 1.4744 before closing the session at 1.4715. Euro zone GDP figures for the second quarter are expected to be confirmed at -0.1%, whilst German Industrial orders are forecasted to be released at 1.3% (Previous: 3.5%)

The Japanese Yen (JPY) man of the hour, Japanese Finance Minister Fujii was outspoken once more indicating that USD weakness had been discussed at the G7 meeting. The USDJPY traded with a low of 88.60 and a high of 89.65 before closing the day at 88.76.

The Sterling (GBP) was one of the only currencies to have lost ground against the USD on Tuesday following poor readings in UK manufacturing and Industrial Production falling 1.9% and 2.5% respectively. Over all the GBP traded with a low of 1.5874 and a high of 1.6047 before closing the day at 1.5938

The Australian Dollar (AUD) was one of the stars on Tuesday following the RBA being the first G20 Central Bank to hikes rates, moving by 25 bpt, in which the official cash rate now sits at 3.25%. Furthermore, the RBA upgraded its growth forecasts to 3% GDP in 2010 adding fuel to another possible rate hike by the end of the year. The AUD traded at fresh 14 month highs throughout the day reaching 0.8920 having traded at a low of 0.8753 before closing at 0.8905.

Oil & Gold (XAU) were both in the spotlight with Oil being the key driver for much of the USD weakness following the Independent report of Arab states in talks to flee USD denominated contracts. However Oil rallied as the US Energy Information raised forecasts of consumption by 170k barrels for the 4^th quarter of 2009. Crude rose by US 47 cents to US 70.88 a barrel. XAU soared to all time highs of 1,043.45 on the back of the UK independent report that USD would be dropped as the peg currency for Oil, in which the safe haven commodity was most attractive.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.4481	1.4581	1.4710	1.4844	1.4908
USD/JPY	88.24	88.61	88.95	89.88	90.41
GBP/USD	1.5771	1.5805	1.5905	1.6126	1.6207
AUD/USD	0.8570	0.8647	0.8895	0.8943	0.9130
XAU/USD	1000.95	1015.70	1038.30	1050.00	1100.00
OIL/USD	69.16	70.18	71.35	72.09	72.98

Euro – 1.4710

Initial support at 1.4581 (Oct 5 low) followed by 1.4467 (Oct 2low). Initial resistance is now located at 1.4844 (Sept 23 high) followed by 1.4908 (August 22 ’08 high)

Yen – 88.95

Initial support is located at 88.61 (Oct 2 low) followed by 88.24 (Sep 28 low). Initial resistance is now at 89.88 (Oct 5 high) followed by 90.41 (Sept 03 high).

Pound – 1.5905

Initial support at 1.5805 (Oct 2 low) followed by 1.5771 (Sep 28 low). Initial resistance is now at 1.6126 (Sep 30 high) followed by 1.6207 (23.6% retracement 1.3503 – 1.7043).

Australian Dollar – 0.8895

Initial support at 0.8676 (Sept 29 low) followed by the 0.8587 (Sept 28 low). Initial resistance is now at 0.8943 (76.4% retrace 0.9850-0.6009) followed by 0.9130 (Aug 07 '08 high).

Gold – 1038.30

Initial support at 1015.70 (Oct 6 low) followed by 1000.95 (Oct 5 low). Initial resistance is now at 1050 (Psych. Level) followed by 1100 (Psych Level).

Oil – 71.35

Initial support at 70.18 followed by 69.16. Initial resistance is now at 72.09 followed by 72.98 High).

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

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Daily Forex Commentary: Oct 6 2009

FOREX Daily Outlook by Easy-Forex.com

G7 fails to call for a stronger USD. AUD still on target

CURRENCY TRADING SUMMARY – 6^th October (00:30GMT)

U.S. Dollar Trading (USD) lost further ground despite ISM services rising from 48.4 to 50.9 for the first time since September 2008. Such figures help share markets shrugging off the disappointment of last Fridays NFP data in which -263K jobs were lost vs. -180k forecasts. The DJIA rose 112.08 pts (1.18%) whilst the NASDAQ also gained 15.19 pts (1.16%).

The Euro (EUR) gapped higher first thing Monday morning as the G7 communiqué failed to address a strong USD policy, despite mentioning concerns surrounding FX volatility. On the data front August retail sales fell by -0.2%, yet the EUR continued to trade higher as Sentix index recorded a 15 month high at -12.6. EUR also found demand on comments by ECB’s Nowotny that he sees no need to take action on current exchange levels. The EUR traded with a low of 1.4578 and a high of 1.4672 before closing the day at 1.4650.

The Japanese Yen (JPY) saw Fin-Min Fujii re-iterate Japanese Yen intervention if necessary. The Yen remained mixed as the market continues to scratch its head over recent rhetoric and its ambiguity. The USDJPY traded with a low of 89.41 and a high of 89.98 before closing the day at 89.55

The Sterling (GBP) was largely mixed finding support on UK PMI Services figures rising to 2 year highs of 55.3 from last months 54.1. Nonetheless the GBP continues to be hampered on fears that the UK government will be faced with a financing gap of 215 billion pound in 2009 which equates 15% of UK GDP. Over all the GBP traded with a low of 1.5899 and a high of 1.6024 before closing at 1.5938.

The Australian Dollar (AUD) continued to push higher despite markets in Sydney being closed for Labour Day holiday. In anticipation of hawkish RBA comments at Wednesdays meeting with two analysts seeing a chance of a hike, the Aussie dollar also found demand following September Job ads rising to 4.4%. AUD traded with a low of 0.8645 and a high of 0.8796 before closing the day at 0.8773. Update: August Trade Balance worse than expected at -1524 million versus -850 million forecasted. RBA Rate Announcement at 0330 GMT.

Oil & Gold (XAU) were both buoyed by investor demand following a boost in the US services sector. Crude Oil rose by 46 cents (+0.7%) to US 70.41 a barrel. Whilst XAU surged by US$13.50 an ounce (1.3%) to close at 1017.80.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.4467	1.4527	1.4664	1.4725	1.4844
USD/JPY	87.99	88.24	89.40	90.51	91.63
GBP/USD	1.5691	1.5771	1.5950	1.6207	1.6468
AUD/USD	0.8587	0.8676	0.8775	0.8943	0.9130
XAU/USD	982.00	985	1016.40	1020.00	1024.00
OIL/USD	68.00	69.40	70.20	70.75	72.05

Euro – 1.4664

Initial support at 1.4527 (Sept 29 low) followed by 1.4467 (Sept 9 low). Initial resistance is now located at 1.4725 (Sept 25 high) followed by 1.4844 (September 23 high)

Yen – 89.40

Initial support is located at 88.24 (Sept 28 low) followed by 87.99 (Jan 23 low). Initial resistance is now at 90.51 (76.4% retrace 87.13-101.44) followed by 91.63 (Sept 24 high).

Pound – 1.5950

Initial support at 1.5771 (Sept 28 low) followed by 1.5691 (38.2% retrace 1.3503 - 1.7043). Initial resistance is now at 1.6207 (23.6% retrace 1.3503-1.7043) followed by 1.6468 (Sept 23 high).

Australian Dollar – 0.8775

Initial support at 0.8676 (Sept 29 low) followed by the 0.8587 (Sept 28 low). Initial resistance is now at 0.8943 (76.4% retrace 0.9850-0.6009) followed by 0.9130 (Aug 07 '08 high).

Gold – 1016.40

Initial support at 985 (Sept 29 low) followed by 982 (Sept 10 low). Initial resistance is now at 1020 (Sept 22 high) followed by 1024 (September 17 high).

Oil – 70.20

Initial support at 69.40 (Fib Support) followed by 68.00 (Fib Support). Initial resistance is now at 70.75 (Sept 30 high) followed by 72.05 (Sept 22 High).

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

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Daily Forex Commentary: Oct 2 2009

FOREX Daily Outlook by Easy-Forex.com

US Stocks Plunge

CURRENCY TRADING SUMMARY – 2nd October (00:30GMT)

U.S. Dollar Trading (USD) found strength in Adversity as risk trades were pared back overnight. US stocks fell the most in 3 months on the first day of the quarter as data missed expectations. US September ISM manufacturing was at 52.6 vs. 54 forecast. Weekly Jobless claims at 550k vs. 530k previously. Market very nervous ahead of tonight's NonFarm Payrolls data. US Automakers showed a massive slump in sales during September as the Cash for Clunkers program ended. In US Stocks, DJIA -203 points closing at 9509, S&P -27 points closing at 1029 and NASDAQ -64 points closing at 2057. Looking ahead, September Non Farm Payrolls forecast at -180k vs. -216k previously and the Unemployment Rate forecast at 9.8% vs. 9.7% previously. August Factory orders are forecast at 0.3% vs. 1.3% previously.

The Euro (EUR) fell at the start of Europe with a report that the EU would discuss the recent Euro appreciation. This added to recent comments about the weakness of the dollar. In the US session more selling was seen as risk aversion stepped up and the EUR/JPY fell back to 130 supports. 1.4500 has held so far. August German Retail Sales at -1.5% vs. 0.05 forecast. Overall the EUR/USD traded with a low of 1.4512 and a high of 1.4669 before closing at 1.4630. Looking ahead, August PPI forecast at 0.4% vs. 0.8%.

The Japanese Yen (JPY) strengthened with risk aversion as US stocks plunged. Concerns about today's US employment data are fueling downside in AUD/JPY and GBP/JPY. Q3 Tankan Survey at -33 vs. -32 forecast helped to stabilize the market in Asia yesterday but traders did note that the average price forecast by big firms in Japan is 94 Yen not the current 89 Yen. Overall the USDJPY traded with a low of 89.63 and a high of 90.37 before closing the day around 90.15 in the New York session. UPDATE August Unemployment at 5.5% vs. 5.8% forecast.

The Sterling (GBP) fell back on USD strength but gained against some of the other majors which fell more in percentage terms. GBP/AUD in particular found support close to 1.8000. Although cable did spend some of the day above 1.6000 resistance at 1.6030 held. Overall the GBP/USD traded with a low of 1.5889 and a high of 1.6025 before closing the day at 1.5930 in the New York session. Looking ahead, September Nationwide House Prices are forecast at 0.7% vs. 1.6% previously.

The Australian Dollar (AUD) fell back heavily as the market was caught very long after fresh year highs above 0.8850. As US data shocked to the downside and stock losses mounted the pair pushed past support at 0.8760. Overall the AUD/USD traded with a low of 0.8674 and a high of 0.8859 before closing the US session at 0.8710.

Oil & Gold (XAU) bowed to USD strength slipping below $1000 but to little fanfare and price action was limited. Overall trading with a low of USD$997 and high of USD$1009 before ending the New York session at USD$999 an ounce. Shrugged off risk aversion to maintain $70 a barrel as Iran concerns mounted. Crude Oil was up $0.21 ending the New York session at $70.80.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.4467	1.4527	1.4535	1.4725	1.4844
USD/JPY	87.99	88.24	89.50	90.51	91.63
GBP/USD	1.5691	1.5771	1.5935	1.6126	1.6207
AUD/USD	0.8587	0.8676	0.8695	0.8943	0.9130
XAU/USD	982.00	985	999.00	1020.00	1024.00
OIL/USD	68.00	69.40	70.30	70.75	72.05

Euro – 1.4535

Initial support at 1.4527 (Sept 29 low) followed by 1.4467 (Sept 9 low). Initial resistance is now located at 1.4725 (Sept 25 high) followed by 1.4844 (September 23 high)

Yen – 89.50

Initial support is located at 88.24 (Sept 28 low) followed by 87.99 (Jan 23 low). Initial resistance is now at 90.51 (76.4% retrace 87.13-101.44) followed by 91.63 (Sept 24 high).

Pound – 1.5935

Initial support at 1.5771 (Sept 28 low) followed by 1.5691 (38.2% retrace 1.3503 - 1.7043). Initial resistance is now at 1.6207 (23.6% retrace 1.3503-1.7043) followed by 1.6468 (Sept 23 high).

Australian Dollar – 0.8695

Initial support at 0.8676 (Sept 29 low) followed by the 0.8587 (Sept 28 low). Initial resistance is now at 0.8943 (76.4% retrace 0.9850-0.6009) followed by 0.9130 (Aug 07 '08 high).

Gold – 999

Initial support at 985 (Sept 29 low) followed by 982 (Sept 10 low). Initial resistance is now at 1020 (Sept 22 high) followed by 1024 (September 17 high).

Oil – 70.30

Initial support at 69.40 (Fib Support) followed by 68.00 (Fib Support). Initial resistance is now at 70.75 (Sept 30 high) followed by 72.05 (Sept 22 High).

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

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Daily Forex Commentary: Oct 1 2009

FOREX Daily Outlook by Easy-Forex.com

Oil Soars Above $70 a barrel

CURRENCY TRADING SUMMARY – 1st October (00:30GMT)

U.S. Dollar Trading (USD) lost ground after a few days of strength and consolidation. Commodity currencies led the rally against the Dollar with AUD/USD breaking fresh year highs. US Data was surprisingly weak with September ADP Employment -254k vs. -200k expected. Chicago PMI forecast at 52 shocked at 46.1. In US Stocks, DJIA -29 points closing at 9712, S&P -3 points closing at 1057 and NASDAQ -1 points closing at 2122. Looking ahead, ISM Manufacturing Forecast at 54 vs. 52.9 previously. Weekly Jobless Claims are forecast at 530k vs. 530k previously.

The Euro (EUR) strengthened during Europe on strong German Employment Data and intervention from the SNB on the EUR/CHF. German Unemployment in September was -12k vs. +19k forecast. In the US session some volatility was seen after weak data prompted profit taking. Overall the EUR/USD traded with a low of 1.4576 and a high of 1.4674 before closing at 1.4630. Looking ahead, August German Retail Sales forecast at 0.1% vs. 0.7%.

The Japanese Yen (JPY) fell hard at the start of the Europe after Fin Minister Fujii said recent Yen strength will not be a topic at the G7. EUR/JPY dipped but was able to recover to opening level along with most crosses. August Industrial Output at 1.8% vs. 1.9% forecast. Overall the USDJPY traded with a low of 89.63 and a high of 90.37 before closing the day around 90.15 in the New York session. UPDATE Q3 TANKAN Survey at -33 vs -32 forecast.

The Sterling (GBP) rallied hard into Europe on better than expected Consumer Confidence and continued strength on the crosses especially the EUR/GBP. Large quarter end flows supported. Also helping was the massive rally in Commodities and improvement in risk sentiment. Overall the GBP/USD traded with a low of 1.5945 and a high of 1.6125 before closing the day at 1.5990 in the New York session.

The Australian Dollar (AUD) soared on strong August Retail Sales at 0.9% vs. 0.5% forecast. When the pair broke above 0.8800 the market held and pushed higher as gold and Oil pushed higher in the US session outweighing stock market gyrations. Overall the AUD/USD traded with a low of 0.8734 and a high of 0.8847 before closing the US session at 0.8825.

Oil & Gold (XAU) was very strong breaking back above $1000 an ounce with broad USD weakness and pushing higher into the US close. Overall trading with a low of USD$991 and high of USD$1009 before ending the New York session at USD$1007 an ounce. Had its biggest rally in over a month up +6% to break above $70 a barrel. Crude Oil was up $3.90 ending the New York session at $70.61.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.4467	1.4527	1.4635	1.4725	1.4844
USD/JPY	87.99	88.24	89.70	90.51	91.63
GBP/USD	1.5691	1.5771	1.6005	1.6207	1.6468
AUD/USD	0.8587	0.8676	0.8835	0.8943	0.9130
XAU/USD	982.00	985	1007.00	1020.00	1024.00
OIL/USD	68.00	69.40	70.40	70.75	72.05

Euro – 1.4635

Initial support at 1.4527 (Sept 29 low) followed by 1.4467 (Sept 9 low). Initial resistance is now located at 1.4725 (Sept 25 high) followed by 1.4844 (September 23 high)

Yen – 89.70

Initial support is located at 88.24 (Sept 28 low) followed by 87.99 (Jan 23 low). Initial resistance is now at 90.51 (76.4% retrace 87.13-101.44) followed by 91.63 (Sept 24 high).

Pound – 1.6005

Initial support at 1.5771 (Sept 28 low) followed by 1.5691 (38.2% retrace 1.3503 - 1.7043). Initial resistance is now at 1.6207 (23.6% retrace 1.3503-1.7043) followed by 1.6468 (Sept 23 high).

Australian Dollar – 0.8835

Initial support at 0.8676 (Sept 29 low) followed by the 0.8587 (Sept 28 low). Initial resistance is now at 0.8943 (76.4% retrace 0.9850-0.6009) followed by 0.9130 (Aug 07 '08 high).

Gold – 1007

Initial support at 985 (Sept 29 low) followed by 982 (Sept 10 low). Initial resistance is now at 1020 (Sept 22 high) followed by 1024 (September 17 high).

Oil – 70.40

Initial support at 69.40 (Fib Support) followed by 68.00 (Fib Support). Initial resistance is now at 70.75 (Sept 30 high) followed by 72.05 (Sept 22 High).

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

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