UFXBank Daily Review - January 19, 2010

Written by ForexCult Team
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Daily Review 19/01/2010

USD Dollar (USD) –
The Dollar weakened versus most majors after a low volume session and gains in world equity markets worldwide pushed the Dollar lower versus the other majors. U.S stock markets have been closed due to Martin Luther King Day. Crude was almost flat with 0.22% closing at 78.25$ a barrel and Gold (XAU) almost unchanged closing at 1131.10$ an ounce. Today, TIC Long Term Purchases are expected stronger with 30.3B versus 20.7B prior.
EURO (EUR) –The Euro gained slightly versus the Dollar and weakened versus the Pound as Greece's debt problems continue to worry investors. Overall, EUR/USD traded with a low of 1.4335 and a high of 1.4408. EUR/USD has been trading near the 200 moving day average that acts as support and an upside move is possible. Today, German ZEW Economic Sentiment is expected weaker with 49.8 versus 50.4 prior.

EUR/USD - Last:  1.44

Resistance    1.4425    1.445    1.4485
Support    1.4365    1.4335    1.43



British Pound (GBP) &ndash