UFXBank Daily Review - January 25, 2010

Written by ForexCult Team
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Daily Review 25/01/2010 

USD Dollar (USD) – The Dollar finished mixed after Obama administration's plan to limit the size of the nation's largest banks and what trading activities they could engage in. Wall Street finished low. Dow Jones tumbled by -2.09% and NASDAQ depreciated by -2.67%. Crude oil plunged and fell to $74.15 reaching a one-month low. Gold (XAU) almost unchanged closed at 1093$ an ounce. Today, The Existing Home Sales is expected at 5.95M vs. 6.54M previously.
EURO (EUR) – The Euro appreciated versus the Dollar after finding support at 1.4080. The Industrial New Orders supported the uptrend coming out at 1.6% better than expected 0.6%. If the pair sustains to keep above the 1.4080 level a continuation of the uptrend can be seen till 1.4220. Overall, EUR/USD traded with a low of 1.4065 and with a high of 1.4181. Today, The Gfk German Consumer Climate is expected at 3.2 vs. 3.3 previously.
EUR/USD – Last: 1.4160

Resistance    1.42    1.4265    1.43
Support    1.41    1.4065    1.403



British Pound (GBP) &ndash