Weekly Outlook of FOREX market ending on September 12

Concluding the week with a positive vibe, US dollars recorded higher against 16 major currencies in forex pairing. USD expanded its growth rate in the week as it framed its biggest hit in international trade breaking last record of November 2013 with support from rising expectation of investors from US economic data.

In the running week, USD benchmarked highest record in its pairing with Aussie, with a change at 0.4 percent rate AUD/USD is trading at 0.9064 levels.

The major news driving forex exchange markets, "Early hike in interest rate" after the policy meeting of Federal Reserve and policy makers from September 16 to September 17. On speculations of rising USD, another important pairing with European markets which steadied their fluctuations remained almost flat reporting EUR/USD at 1.2917.

UK markets raged with stormy waves of changing market sentiment as independence of Scotland made its appearance on Monday pulling down Great British Pound (GBP) and another poll saying no to independence of the land brought back growth to sterling.

Market of UK is likely to trade in volatility until the matter is off the table. According to the latest quote, GBP/USD is trading at 1.6237 higher in weekly report and lower in preset levels.

Japanese Yen is running down the valley as it expanded its falling trend following the changes invested by Bank of Japan. Downward movement of JPY and hiking USD is tripping down the pairing of USD/JPY at 0.1 percent trading at 107.24.

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ECB startled EUR trading in FOREX market

EuropeanCentral Bank (ECB) shook domestic and forex markets as it declared the new interest rate 0.10 percent down from the previous 0.15 percent on Thursday dazzling the currency trading. With the new interest rate at 0.05 percent, short-term bonds entered negative floating charts in France, Austria, Netherlands and Germany, where investors jumped to sell euros to reinvest their holdings in higher yielding investments overseas.

In the forex market trading, EUR/USD pair fell to $1.3000 as per our resistance level pointed out in yesterday's report. President of ECB Mario Draghi added, "ECB will start purchasing asset backed bonds as a further influx in the economy from October."

Forex pairs are correcting their measures as they are accepting the new reforms in the central authority in European Union (EU) and the changes brought in currency level. EUR/USD pair is likely fall further with support at $1.2985 with resistance level marked up between $1.3105 and $1.3110.

The pair is gaining support at the level of $1.2955 and $1.2900. Though, the value of Euro is terming as "exaggerated" at the moment, the pair is likely lose out in the market because of hiking US non farm payrolls  (NFP).
 
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UK markets showed up trading at similar levels as the pairing of GBP/USD is hovering at the level of $1.6400 expected to fall. Forex experts are holding up the sales until the pair breaks below $1.6390 targeting at $1.6300. UK markets are trading flat as there is no major news in line with exception to Halifax HPI posting.

USD/JPY traded near the same levels of 104 but did not break over the resistance level of 105.00 even after Bank of Japan intervened. Governer of Bank of Japan Kuroda said, "Our economy is facing trouble since hiked tab from April and the forex trade is representing that."

Though, Kuroda admitted the problematic economic growth he did not comment on any changes in monetary policy rather commented, "Economy is waiting for a recovery from the markets." USD/JPY is trading with support levels between 104.40 and 104.00 with resistance hiked at 105.30 and 105.40.

EUR/USD leveling at 1.3041 after hitting yearly lowest in FOREX

Most popularly traded Forex pair EUR/USD is falling low in the trade today. In the premiering hours of trade, the pair hit lowest point in 52 weeks citing further dropping in the level as the day advances.

Starting the month of September EUR/USD opened at 1.3118 marking weak cues in the global market in the prior week as the level is dangerously close to yearly lowest point. In the last week closing on 29 August 2014, the pair faced tremendous pressure from Asian trades and fell below its previous lowest level of 1.3150 in afternoon recorded at New York stock exchange.

European official currency Euro rebounded with positive cues from its domestic trading session. The currency is trading at 1.3130 which is a tag higher as compared to its previous closing.

Forex traders are looking out for the much awaited move from European Central Bank after the statements made about Quantitative easing made after the meeting of Jackson Hole concluded. US market is however closed for the day as an official holiday declared as Labor day.

EUR/USD levels to work on

According to technical analyst, immediate supports for EUR/USD is standing at 1.3118 (September 1 low), 1.3104 (September 6 2013 low) and psychological level at 1.3100. On the other hand, resistance level is marking level at 1.3140 (20-hour SMA), 1.3195 (August 29 high) and 1.3210 (10-day SMA).

The pair is trading 0.07 percent higher at 1.3041 according to latest data record at 0830 hours GMT. Market is looking slightly bullish but is overbought.

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EUR/USD leveling at 1.3041 after hitting yearly lowest in FOREX

Most popularly traded Forex pair EUR/USD is falling low in the trade today. In the premiering hours of trade, the pair hit lowest point in 52 weeks citing further dropping in the level as the day advances.

Starting the month of September EUR/USD opened at 1.3118 marking weak cues in the global market in the prior week as the level is dangerously close to yearly lowest point. In the last week closing on 29 August 2014, the pair faced tremendous pressure from Asian trades and fell below its previous lowest level of 1.3150 in afternoon recorded at New York stock exchange.

European official currency Euro rebounded with positive cues from its domestic trading session. The currency is trading at 1.3130 which is a tag higher as compared to its previous closing.

Forex traders are looking out for the much awaited move from European Central Bank after the statements made about Quantitative easing made after the meeting of Jackson Hole concluded. US market is however closed for the day as an official holiday declared as Labor day.

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EUR/USD levels to work on

According to technical analyst, immediate supports for EUR/USD is standing at 1.3118 (September 1 low), 1.3104 (September 6 2013 low) and psychological level at 1.3100. On the other hand, resistance level is marking level at 1.3140 (20-hour SMA), 1.3195 (August 29 high) and 1.3210 (10-day SMA).

The pair is trading 0.07 percent higher at 1.3041 according to latest data record at 0830 hours GMT. Market is looking slightly bullish but is overbought.

U.S. housing data stablises Dollars.

The dollar steadied on Tuesday after Monday's increases on perky U.S. housing information and an ascent in U.S. security yields, however dealers are sitting tight for insights on Federal Reserve approach propositions before they test real safety levels.

The main mover among real monetary standards in Asia was the New Zealand dollar, which shed a half rate point after delicate financial information indicated a stop in the nation's rate climbs.

The U.s. dollar file stood level at 81.612 , after an increase of 0.2 percent on Monday, failing to offer the force to test its 11-month high of 81.716 hit not long ago.

"The lodging information appears to have had an effect on the dollar. Yet the business sector is even now demonstrating no agreeable bearing yet and I see dollar-offering requests above present levels. It appears to be better to play ranges," said Bart Wakabayashi, head of monetary standards at State Street in Tokyo.

The NAHB/Wells Fargo Housing Market list climbed startlingly for the third straight month to month increase to a seven-month high of 55 in August, disregarding the shortcoming of right on time in the not so distant future.

The dollar was additionally supported as U.S. security yields bounced back from lows on Monday, raising the dollar's yield fascination, on any desires for strategic answer for the Ukraine emergency despite the fact that a truce has not been arrived at.