Thread: Forex Market Movements

There is no limit to the forex depth of market trading and your success in this field is defined by your experience. Most forex investors are experienced enough to know how to extract profits for themselves by maneuvering of the rise or fall of value of currencies in the market in their favor.

All investors, old or new should be aware of the forex depth of market trading. It is the only way to make a success out of your career as a forex trading investor. All forex trading investors should know very well that, like any other market trading, this type of investment also involves two actions, namely, purchasing and selling of currencies.


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Canadian dollar (CAD) 01/11/2010- Canada’s dollar gained for a second consecutive month after the Federal Reserve said that it will spur global growth. The GDP came out at 0.30%, as expected. Overall, USD/CAD traded with a low of 1.0180 and with a high of 1.0197. Today, no economic data is expected.

The Euro was lower against the Japanese Yen on Friday. EUR/JPY was trading at 110.97, down 0.64% at time of writing. The pair was likely to find support at 110.32, Wednesday’s low, and resistance at 114.95, Monday’s high.

Forex investors shifted their Euros to Greenback after European debt worries intensified while the Korean cross fire raised caution needs and accordingly almost all investors favored the old fashion Greenback.

The dollar index that measures the dollar's performance versus six major currencies including the Euro, Yen and Sterling pound climbed from opening levels of 79.87 as it currently reads 80.31, recording a days high of 80.52, and a low of 79.86.

The British Pound was lower against the U.S. Dollar on Friday. GBP/USD was trading at 1.6048, down 0.07% at time of writing. The pair was likely to find support at 1.6026, today’s low, and resistance at 1.6341, Monday’s high. Meanwhile, the British Pound was down against the Euro and the Japanese Yen, with EUR/GBP gaining 0.33% to hit 0.8620 and GBP/JPY falling 0.31% to hit 132.85.