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Forex Technical & Market Analysis FXCC Mar 06 2013
Keep an eye on the oil market after Chavez's death
FXstreet.com (Barcelona) - Following the breaking news of Venezuela's president Hugo Chavez death, which has no direct impact on the currency market, traders should, nevertheless, keep an eye on the Oil market, as it may produce some volatility. Venezuelan Vice President Mr. Maduro is expected to win the elections and become Chavez's successor. There was some incendiary comments from Maduro after the announcement of Chavez's death, which Reuters reports: ”We have no doubt that commander Chavez was attacked with this illness,” Maduro said, repeating a charge first made by Chavez himself that the cancer was an attack by “imperialist” foes in the United States in league with domestic enemies.
"This report should be bullish for oil" says Eamonn Sheridan, editor at Forexlive. At the time of writing, US Oil futures are quoted at 90.83 after sharp fall off a double top from early February in the 98.00 vicinity. Venezuela enjoys the world's largest oil reserves and the oil-related bonds being traded are of enormous size, suggesting that the oil community may go through a phase of hyper-sensitivity on any indications of political unrest in the country. As Valeria Bednarik, chief analyst at FXstreet.com notes: "Although the news has little to do right now with the forex market, Venezuela is an oil producer, and therefore, we may see some wild action in oil and that could affect forex market." She tips to keep an eye on this and its correlation with oil, "particularly at the European and the US opening" she said.
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Forex Economic Calendar :
2013-03-06 09:45 GMT | United Kingdom. BoE's Governor King Speech
2013-03-06 10:00 GMT | E.M.U. Gross Domestic Product s.a. (YoY) (Q4)
2013-03-06 15:00 GMT | Canada. BoC Interest Rate Decision (Mar 6)
2013-03-06 19:00 GMT | United States. Fed's Beige Book
Forex News :
2013-03-06 01:18 GMT | USD/JPY pressing against 93.00
2013-03-06 00:45 GMT | AUD/USD above 1.0280 after Aus GDP
2013-03-06 00:19 GMT | EUR/JPY still capped below 122.00
2013-03-05 22:50 GMT | AUD/JPY pushing against 6-day highs ahead of Aus GDP
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EURUSD :
HIGH 1.30704 LOW 1.30421 BID 1.30683 ASK 1.30688 CHANGE 0.14% TIME 08:06:51
https://support.fxcc.com/email/technical/06032013/EURUSD.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Local high, formed today at 1.3070 (R1) is the key point for further uptrend formation on the medium-term perspective. Break here is required to validate next upcoming targets at 1.3090 (R2) and 1.3113 (R3). Downwards scenario: Immediate risk of further market decline is seen below the key support level at 1.3045 (S1). Loss here might downgrade currency rate towards to the next supportive means at 1.3022 (S2) and 1.3000 (S3) in potential.
Resistance Levels: 1.3070, 1.3090, 1.3113
Support Levels: 1.3045, 1.3022, 1.3000
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GBPUSD :
HIGH 1.51543 LOW 1.51236 BID 1.51441 ASK 1.51451 CHANGE 0.12% TIME 08:06:52
https://support.fxcc.com/email/technical/06032013/GBPUSD.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: Market sentiment is slightly improved during the Asian session however further appreciation needs to clear barrier at 1.5154 (R1) to enable our interim target at 1.5175 (R2) and then further gains would be limited to resistance at 1.5197 (R3). Downwards scenario: The downside formation might face next supportive barrier at 1.5129 (S1). Clearance here is required to open the way towards to our initial support at 1.5108 (S2) and any further price regress would then be limited to final support and 1.5087 (S3).
Resistance Levels: 1.5154, 1.5175, 1.5197
Support Levels: 1.5129, 1.5108, 1.5087
USDJPY :
HIGH 93.38 LOW 92.995 BID 93.186 ASK 93.192 CHANGE -0.1% TIME 08 : 06:53
https://support.fxcc.com/email/technical/06032013/USDJPY.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Instrument stabilized below the next resistance level at 93.29 (R1). Penetration above it might encourage orders execution and drive market price towards to the next resistive means at 93.51 (R2) and 93.72 (R3). Downwards scenario: An important technical level is seen at 92.99 (S1). Market decline below this level might initiate bearish pressure and drive market price towards to our initial targets at 92.78 (S2) and 92.56 (S3).
Resistance Levels: 93.29, 93.51, 93.72
Support Levels: 92.99, 92.78, 92.56
Source: FX Central Clearing Ltd,( Forex Account | Best ECN Forex Brokers | Forex Trading Systems | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Mar 07 2013
ECB moving closer to a cut; BoE eyeing additional QE
Economic data coming out of the Eurozone in recent months has been rather poor but even though the ECB has still limited room to cut rates, it is generally not expected to make this move at the upcoming meeting. The BoE´s monetary policy decision is the source of more speculation this month as the minutes from the last meeting revealed that three MCP members expressed their support for additional QE. Even though the majority of the analysts polled for the special forecast report expect the ECB to cut interest rates sometime this year, they rather do not see the central bank making this decision in March. "The markets are nervous about the recent elections results in Italy as well as about a possible QE decrease by the Fed so I do not think Mario would want to add fuel to the fire," Adam Narczewski suggests, while others point also to the successful announcement of the OMT as a factor reducing the need for a cut. Only Steve Ruffley sees the ECB bringing "rates to 0.5%, in line with that of the BOE" on March 7, as "the economic horizon for the EU remains very treacherous."
Attention will center on the ECB press conference following the interest rate announcement, during which president Mario Draghi might, in the opinion of Bill Hubard, "revise inflation projections to the downside." He is also likely to "try and balance between the current economic situation which is quite depressing, and the optimism for growth in H2 2013, coming now from higher business confidence, mostly in Germany," as Yohay Elam believes. The outcome of the BoE´s March monetary policy meeting is less clear for the experts as the minutes from the January meeting surprised with the information that three out of the nine MPC members (including the governor Mervyn King) voted in favor of an additional expansion of the asset purchase program by £25 billion to £400 billion. "The downgrade by Moody's, together with the growing support for more QE and the lack of fiscal stimulus from the government will likely lead the MPC to action, even though the effects of QE on the economy are questionable," Yohay Elam predicts, but the majority of the economists polled believe the expansion could be carried out later in the year.
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Forex Economic Calendar :
2013-03-07 12:00 GMT | United Kingdom. BoE Interest Rate Decision (Mar 7)
2013-03-07 12:45 GMT | E.M.U. ECB Interest Rate Decision (Mar 7)
2013-03-07 13:30 GMT | United States. Trade Balance (Jan)
2013-03-07 21:30 GMT | United States. Bank Stress Test Info
Forex News :
2013-03-07 05:51 GMT | GBP/JPY still in uptrend - JPMorgan
2013-03-07 05:17 GMT | BoJ holds steady; Cable prints fresh lows
2013-03-07 04:55 GMT | NZDUSD bearish potential intact - Saxo Bank
2013-03-07 03:44 GMT | USD/JPY slightly to the downside as no surprise from BoJ
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EURUSD :
HIGH 1.29963 LOW 1.29686 BID 1.29911 ASK 1.29916 CHANGE 0.2% TIME 07 : 57:45
https://support.fxcc.com/email/technical/07032013/EURUSD.gif
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: An evidence of uptrend formation might be provided if the price manages to surpass key resistive structure at 1.3009 (R1). Price evaluation above this level would put in focus our higher targets at 1.3038 (R2) and 1.0388 (R3). Downwards scenario: Instrument is moving with a ranging momentum on a slightly shorter timeframe and might retest our next support level at 1.2965 (S1). Market decline below it might lead to the further easing towards to next targets at 1.2938 (S2) and 1.2910 (S3).
Resistance Levels: 1.3070, 1.3090, 1.3113
Support Levels: 1.3045, 1.3022, 1.3000
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GBPUSD :
HIGH 1.50175 LOW 1.49669 BID 1.50019 ASK 1.50031 CHANGE -0.1% TIME 07 : 57:46
https://support.fxcc.com/email/technical/07032013/GBPUSD.gif
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: Next actual resistance level is seen at 1.5043 (R1). If the market manages to surge higher, our focus would returned to the next target at 1.5075 (R2) and further uptrend formation could be exhausted at 1.5107 (R3) intraday. Downwards scenario: Technical indicators are bearish and if the price manages to break our next support level at 1.4968 (S1) we would expect further depreciation towards to our next targets, located at 1.4935 (S2) and 1.4904 (S3).
Resistance Levels: 1.5043, 1.5075, 1.5107
Support Levels: 1.4968, 1.4935, 1.4904
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USDJPY :
HIGH 94.115 LOW 93.792 BID 93.926 ASK 93.932 CHANGE -0.15% TIME 07 : 57:47
https://support.fxcc.com/email/technical/07032013/USDJPY.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Consolidation pattern formation likely comes to the end and appreciation above the resistance at 94.13 (R1) might start of a new step of the ascending structure. Our intraday targets today are placed at 94.42 (R2) and 94.70 (R3). Downwards scenario: Local low formed today is pointing to a short-term key support at 93.77 (S1). Penetration below it might change near-term tone to the negative side and expose our initial targets at 93.47 (S2) and 93.19 (S3) later on today.
Resistance Levels: 94.13, 94.42, 94.70
Support Levels: 93.77, 93.47, 93.19
Source: FX Central Clearing Ltd,( Forex Trading News | ECN Trading Account | Forex ECN Broker | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Mar 08 2013
Fed's stress test: banks better prepared for downturn
Stress tests results in the US, conducted by the Fed as an exercise required under the 2010 Dodd-Frank financial overhaul, have shown that 17 out of 18 banks stress tested meet the minimum requirement of tier 1 capital above the 5% threshold, noting that banks could weather sharp downturn with adequate capital. FED said 18 banks projected losses may amount $462 billion under severe market shock, with the test assuming an equity drop of more than 50% and housing prices decreasing more than 20%. The only bank failing to comply with the 5% tier 1 capital was Ally. In summary, all bans combined showed they exceed regulatory minimums although there were wide gaps among them.
The February US jobs numbers are not expected to differ substantially from those registered in the recent months, although the market experts participating in the forecast report suggest that they will rather be somewhat lower. This time the range of predictions is relatively narrow: between 110K and 200K jobs added. Alexandra Estiot who sees the US labor market growing by 180-200K in February justifies her optimistic forecast by saying that "in late 2012, some signs of strengthening were already obvious, with non-farm private payrolls growing by more than 200k a month" and that "leading indicators are pointing to a strengthening of that trend, with employment components of ISM surveys at historical highs." She nevertheless warns about the effects of the automatic budget cuts which after being implemented might harm the labor market. Other analysts, who expect more modest jobs gains in the range of 130K-170K, are also worried about the impact of the sequester and some suspect that the steady growth trend might be coming to an end. Steve Ruffley points to a similar situation in the corresponding period of last year: "We have seen a steady decrease in 2013 from the NFP highs of 247K to last month’s figure of 157K; this mirrors the start of 2012 where the NFP went from 259K to 154K." Should the reading prove better than expected "it could cause short-term positive reaction in the stocks market," as Talal Abdullah suggests and adds that "the uptick in NFP should increase the appeal for the U.S. dollar, as it raises the outlook for growth." US NFP numbers for February will be released on March 8 at 13:30 GMT.-FXstreet.com
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Forex Economic Calendar :
N/A | United Kingdom. Consumer Inflation Expectations
2013-03-08 11:00 GMT | Germany. Industrial Production s.a. w.d.a. (YoY) (Jan)
2013-03-08 13:30 GMT | Canada. Unemployment Rate (Feb)
2013-03-08 13:30 GMT | United States. Nonfarm Payrolls (Feb)
Forex News :
2013-03-08 05:33 GMT | GBP/USD unable to hold above 1.5000
2013-03-08 05:20 GMT | Draghi rescues Euro from its $1.30 agony, can it last?
2013-03-08 03:26 GMT | NZD/USD pullsback to retest 0.8260
2013-03-08 02:38 GMT | USD/JPY prints yet another fresh high above 95.20
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EURUSD :
HIGH 1.31152 LOW 1.3087 BID 1.30958 ASK 1.30964 CHANGE -0.09% TIME 08 : 30:33
https://support.fxcc.com/email/technical/08032013/EURUSD.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Markets simply ignored all resistive measures yesterday and formed clear uptrend signal on the hourly chart timeframe. Currently resistive structure at 1.3118 (R1) prevents further gains. Only clearance here would open route towards to next targets at 1.3139 (R2) and 1.3159 (R3). Downwards scenario: Today we expect some consolidation ahead prior further volatility increase. Possibility of market decline is seen below the next support level at 1.3074 (S1) with next expected targets at 1.3053 (S2) and 1.3032 (S3).
Resistance Levels: 1.3118, 1.3139, 1.3159
Support Levels: 1.3074, 1.3053, 1.3032
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GBPUSD :
HIGH 1.50263 LOW 1.49816 BID 1.49944 ASK 1.49951 CHANGE -0.12% TIME 08:30:35
https://support.fxcc.com/email/technical/08032013/GBPUSD.gif
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: On the upside market might get more incentives above the immediate resistive barrier at 1.5020 (R1). If the price manages to overcome it we would suggest next intraday targets at 1.5050 (R2) and 1.5081 (R3). Downwards scenario: However the downside remains favored direction for today. The 1.4968 (S1) would be the key support level. Decline below it might take the pair towards to eventual targets, located at 1.4935 (S2) and 1.4904 (S3).
Resistance Levels: 1.5020, 1.5050, 1.5081
Support Levels: 1.4968, 1.4935, 1.4904
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USDJPY :
HIGH 95.445 LOW 94.781 BID 95.287 ASK 95.291 CHANGE 0.49% TIME 08 : 30:36
https://support.fxcc.com/email/technical/08032013/USDJPY.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: USDJPY broke all resistive measure yesterday and currently stabilized near its high’s. Appreciation above the resistive barrier at 95.50 (R1) is compulsory to resume positive market structure and validate next intraday targets at 95.84 (R2) and 96.19 (R3). Downwards scenario: On the other hand, we still keep the downside extension in focus. Risk of further market depreciation is seen below the support level at 95.10 (S1). Loss here would enable initial targets at 94.75 (S2) and 94.37 (S3).
Resistance Levels: 95.50, 95.84, 96.19
Support Levels: 95.10, 94.75, 94.37
Source: FX Central Clearing Ltd, (http://www.fxcc.com)
Forex Technical & Market Analysis FXCC Mar 11 2013
Fitch downgrades Italy to BBB+, outlook negative
Fitch Ratings decided to downgrade Italy's rating to 'BBB+' from 'A-', citing the inconclusive results of the Italian parliamentary elections and deeper recession as the main reasons. Fitch also kept negative outlook on the country, meaning Italy could see another downgrade. "The inconclusive results of the Italian parliamentary elections on 24-25 February make it unlikely that a stable new government can be formed in the next few weeks", said Fitch. "The increased political uncertainty and non-conducive backdrop for further structural reform measures constitute a further adverse shock to the real economy amidst the deep recession". Fitch also said that the ongoing recession in Italy is one of the deepest in Europe as confirmed by Q412 data.
Following what could be described as a 'remarkable' jobs number in the United States last Friday, with the jobless rate down to 7.7% and the economy creating 236K new jobs, highest since early 2012, the US Dollar continues to be one of the big winners in the currency market. Are the stars aligning for further Greenback strength? Before touching on the prospects for further USD appreciation, especially against the Euro, an interesting phenomenon not to ignore last Friday is the positive correlation between the US Dollar and the equity market, an occurrence which has seen commentators of the market busy speculating such behaviour as an early sign of improvement in market confidence.
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Forex Economic Calendar :
2013-03-11 07:00 GMT | Germany. Trade Balance s.a. (Jan)
2013-03-11 09:00 GMT | Italy. Gross Domestic Product (YoY) (Q4)
2013-03-11 21:00 GMT | New Zeland. REINZ House Price Index (MoM) (Feb)
2013-03-11 23:50 GMT | Japan. BoJ Monetary Policy Meeting Minutes
Forex News :
2013-03-11 05:46 GMT | EUR/USD, the 1.30 flirt goes on ...
2013-03-11 05:22 GMT | GBP/USD resting above 1.4900
2013-03-11 03:28 GMT | AUD/JPY holding above 98 on the back of Yen weakness
2013-03-11 01:15 GMT | EUR/JPY unchanged below 125.00
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EURUSD :
HIGH 1.3009 LOW 1.29792 BID 1.30027 ASK 1.30035 CHANGE 0.03% TIME 08:04:55
https://support.fxcc.com/email/technical/11032013/EURUSD.gif
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Our medium-term outlook is negative for the EURUSD though possibility of price deviation is seen above the next resistance level at 1.3016 (R1). Retracement targets could be exposed at 1.3035 (R2) and 1.3054 (R3). Downwards scenario: Activation of bearish forces is possible below the support level at 1.2979 (S1). Clearance here would suggest next interim target at 1.2960 (S2) and if the price holds its momentum on the downside we would suggest final target for today at 1.2941 (S3).
Resistance Levels: 1.3016, 1.3035, 1.3054
Support Levels: 1.2979, 1.2960, 1.2941
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GBPUSD :
HIGH 1.49273 LOW 1.49009 BID 1.49263 ASK 1.49274 CHANGE 0.07% TIME 08:04:55
https://support.fxcc.com/email/technical/11032013/GBPUSD.gif
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low
Upwards scenario: Breaching of resistance at 1.4958 (R1) is required to provide an evidence of corrective action. Possible targets could be exposed at 1.4990 (R2) and 1.5022 (R3) later on today in such scenario. Downwards scenario: Fresh low formed today offers an important support level at 1.4899 (S1). Discounted value of GBPUSD might push through this mark and enable next visible target at 1.4866 (S2) en route to support at 1.4834 (S3).
Resistance Levels: 1.4958, 1.4990, 1.5022
Support Levels: 1.4899, 1.4866, 1.4834
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USDJPY :
HIGH 96.256 LOW 95.94 BID 96.125 ASK 96.131 CHANGE 0.12% TIME 08:04:56
https://support.fxcc.com/email/technical/11032013/USDJPY.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: Next immediate resistive barrier is seen at 96.30 (R1). If instrument gains momentum on the upside and manage to overcome it we would focus on the intraday targets at 96.68 (R2) and 97.07 (R3) in potential. Downwards scenario: Although market price remained relatively stable, depreciation below the next support level at 95.49 (S1) might assist to recovery formation evolvement. We expect that our intraday target at 95.10 (S2) and 94.70 (S3) could be exposed later on today in such case.
Resistance Levels: 96.30, 96.68, 97.07
Support Levels: 95.49, 95.10, 94.70
Source: FX Central Clearing Ltd,( Currency Converter | Forex School | ECN Forex Trading Accounts | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Mar 12 2013
Troika inclined towards extending Portugal’s rescue loan maturity
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For the London session ahead UK Manufacturing production for January on monthly basis at 09:30 GMT will be key risk event of the day, along with UK Trade balance and Industrial production at same hour. The British Manufacturing Production indicator measures the changes in output produced by manufacturers and in the turning of inventory. Manufacturing is a critical sector of the economy, and strong readings are an indication of economic growth. After a string of weak releases, Manufacturing Production shot up 1.6% in February, well above the market estimate of 0.7%. However, the markets are bracing for a much weaker figure for March, with an estimate of a paltry gain of just 0.1%. Will the indicator surprise the market with another strong reading?
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Forex Economic Calendar :
2013-03-12 07:00 GMT | Germany. Consumer Price Index (YoY) (Feb)
2013-03-12 09:30 GMT | United Kingdom. Goods Trade Balance (Jan)
2013-03-12 15:00 GMT | United Kingdom. NIESR GDP Estimate (3M) (Feb)
2013-03-12 21:00 GMT | New Zeland. REINZ House Price Index (MoM) (Feb)
Forex News :
2013-03-12 05:52 GMT | EUR/USD firmer above 1.30
2013-03-12 05:19 GMT | USD/JPY makes new highs; BoJ may call emergency meeting
2013-03-12 04:05 GMT | GBP/USD below 1.49 ahead of key UK data
2013-03-12 03:39 GMT | AUD/USD 1.0340/75 key zone to move higher - JPM
EURUSD :
HIGH 1.30464 LOW 1.30229 BID 1.30250 ASK 1.30256 CHANGE -0.15% TIME 08 : 10:39
https://support.fxcc.com/email/technical/12032013/EURUSD.gif
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Medium-term negative bias pressure the price lower however instrument might find buyers above the important resistance level at 1.3035 (R1). Break here might open route towards to our initial targets at 1.3052 (R2) and 1.3070 (R3) Downwards scenario: Although market players may prefer to increase exposure on the short positions and push the price below the support level at 1.0318 (S1). Possible price devaluation would suggest next initial targets at 1.0306 (S2) and then 1.0295 (S3).
Resistance Levels: 1.3035, 1.3052, 1.3070
Support Levels: 1.0318, 1.0306, 1.0295
GBPUSD :
HIGH 1.49188 LOW 1.48857 BID 1.48955 ASK 1.48967 CHANGE -0.12% TIME 08 : 10:39
https://support.fxcc.com/email/technical/12032013/GBPUSD.gif
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Immediate resistance at 1.4935 (R1) remains in near-term focus, climb above this level might open way for a stronger move towards to next interim target at 1.4969 (R2) and any further rise would then be limited to final resistive measure at 1.5001 (R3) Downwards scenario: Market stabilized after the previous day’s losses and looks ready for a new step of downtrend extension. Key support level lies at 1.4866 (S1), clearance here would suggest lower targets at 1.4834 (S2) and 1.4803 (S3).
Resistance Levels: 1.4935, 1.4969, 1.5001
Support Levels: 1.4866, 1.4834, 1.4803
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USDJPY :
HIGH 96.708 LOW 96.268 BID 96.442 ASK 96.445 CHANGE 0.17% TIME 08 : 10:40
https://support.fxcc.com/email/technical/12032013/USDJPY.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: After the strong appreciation provided last week we expect some consolidation development ahead, though medium-term bias remains bullish. Marks at 96.68 (R1), 97.07 (R2) and last one at 97.49 (R3) acts as resistive measures on the upside. Downwards scenario: A short-term technical structure might turn into negative side in case of price regress below the support level at 96.01 (S1). Possible correction below this level would then be targeting initial support at 95.60 (S2) en route towards to final target at 95.20 (S3).
Resistance Levels: 96.68, 97.07, 97.49
Support Levels: 96.01, 95.60, 95.20
Source: FX Central Clearing Ltd,( ECN Broker Account | Best Forex Trading Platform | Forex Blog | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Mar 13 2013
Rehn defends Eurozone’s austerity policy
European Commissioner for Economic and Monetary Affairs Olli Rehn spoke against the critics of budget cutting measures recommended by the European Union in an interview published today in a Finnish newspaper. Rehn responded to voices of such economists as Paul Krugman who suggest that Brussels should stop reducing spending and encourage the most indebted countries to stimulate their economies, instead of making them believe that this is a way to regain market confidence. The disagreement sprang up after the European Commission published various projections which pointed to a deeper and more prolonged recession in the countries in the south of Europe, which are implementing harsh austerity measures.
Olli Rehn believes that the experts who agree with Krugman distorted the results of a study carried out by the IMF in 2012 regarding the consequences of austerity, which said that the impact of spending cuts on growth could be greater than expected. According to the commissioner, “It is essential that the IMF paper does not give rise to the conclusion that economic adjustment would not be desirable” and that is why he believes that the critics are putting forward their own interpretation in order to attack the Eurozone policy. Rehn assured that he expects “people who are more intelligent” to present alternative and realistic propositions in order to improve the flow of credit in Europe, as until now this did not happen yet.
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Forex Economic Calendar :
2013-03-13 10:00 GMT | E.M.U. Industrial Production w.d.a. (YoY) (Jan)
2013-03-13 12:30 GMT | United States. Retail Sales (MoM) (Feb)
2013-03-13 17:00 GMT | United States. 10-Year Note Auction
2013-03-13 20:00 GMT | New Zeland. Monetary Policy Statement
Forex News :
2013-03-13 05:22 GMT | EUR/USD eyes US retail sales
2013-03-13 04:36 GMT | USD/JPY mixed on BoJ nominees, holds above 95.60
2013-03-13 03:33 GMT | GBP/USD prints fresh weekly highs, knocks 1.4950
2013-03-13 01:16 GMT | USD/CAD momentum fading - TDS
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EURUSD :
HIGH 1.30438 LOW 1.30227 BID 1.30390 ASK 1.30398 CHANGE 0.05% TIME 07 : 58:37
https://support.fxcc.com/email/technical/13032013/EURUSD.gif
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EURUSD lost momentum recently and trapped to the range mode trading. On the upside next hurdle ahead is seen at 1.3053 (R1). Clearance here would suggest next intraday targets at 1.3069 (R2) and 1.3084 (R3) in potential. Downwards scenario: Risk of price depreciation is seen below the support level at 1.3022 (S1). A fall below it might prolong the weakness towards to next target at 1.3006 (S2) and any further market decline would then be limited to final support at 1.2988 (S3).
Resistance Levels: 1.3053, 1.3069, 1.3084
Support Levels: 1.3022, 1.3006, 1.2988
---------------------
GBPUSD :
HIGH 1.49524 LOW 1.48927 BID 1.49360 ASK 1.49370 CHANGE 0.25% TIME 07 : 58:38
https://support.fxcc.com/email/technical/13032013/GBPUSD.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Retail trader’s sentiment on the bullish side today. Further uptrend evolvement is limited now to the important resistive bastion at 1.4952 (R1). Break here is required to enable higher targets at 1.4976 (R2) and 1.5001 (R3). Downwards scenario: Our support level is placed on the important fractal level- 1.4916 (S1). Below here is seen potential of price acceleration towards to our initial targets at 1.4890 (S2) and then final one at 1.4865 (S3).
Resistance Levels: 1.4952, 1.4976, 1.5001
Support Levels: 1.4916, 1.4890, 1.4865
-------------------------
USDJPY :
HIGH 96.101 LOW 95.589 BID 95.711 ASK 95.718 CHANGE -0.38% TIME 07 : 58:39
https://support.fxcc.com/email/technical/13032013/USDJPY.gif
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: USDJPY corrected from the initial upside development yesterday and currently looking for priority in direction for today. Possibility of market appreciation is seen above the resistance level at 96.10 (R1). Break here is required to validate our targets at 96.40 (R2) and 96.69 (R3). Downwards scenario: Clearance of our next support level at 95.59 (S1) is required to enable further retracement phase and expose our target at 95.31 (S2). Further market decline looks limited to final support level at 95.03 (S3).
Resistance Levels: 96.10, 96.40, 96.69
Support Levels: 95.59, 95.31, 95.03
Source: FX Central Clearing Ltd,( FX Central Clearing Ltd (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Mar 14 2013
Eurogroup talks on Cyprus at Friday meeting might be unofficial
Eurozone Finance Ministers are expected to continue their negotiations on the rescue loan for Cyprus during the meeting scheduled for Friday, although some sources claim that these negotiations will be led on the sidelines of the main talks. Cyprus and the Troika are trying to bring down the amount of the aid to 10 billion euros from the previously estimated 17 billion euros. According to Peter Jackson from FxBriefs.com “Cyprus may be forced to raise money from levies on deposits, other taxes such as corporate tax (which could be raised to 12.5% from 10%), as well as the possibility of a much opposed financial transaction tax.”
Representatives of the international lenders will meet with president Nicos Anastasiades for preparatory talks before the Friday summit on Thursday evening in Nicosia. It was given to understand that there was a possibility of striking the bailout deal already on Friday. Nevertheless, a German government official said in the European afternoon that the talks on the rescue program for Cyprus would be informal, thus no final decision could be made this week. He also added that Germany is waiting for the Troika’s evaluation of Cyprus before making any decisions. The EU Finance Ministers’ meeting is due to start on Friday at 16:00 GMT, Eurogroup chairman Jeroen Dijsselbloem informed on his Twitter account.
https://support.fxcc.com/email/technical/14032013/
Forex Economic Calendar :
2013-03-14 08:30 GMT | Switzerland. SNB Interest Rate Decision
2013-03-14 10:00 GMT | E.M.U. Employment Change (YoY) (Q4)
2013-03-14 12:30 GMT | United States. Producer Price Index (YoY) (Feb)
2013-03-14 21:30 GMT | United States. Bank Stress Test Info
Forex News :
2013-03-14 06:08 GMT | EUR/USD, calls for lower lows persist
2013-03-14 05:23 GMT | Aussie skyrockets after 'beyond belief' Aus jobs
2013-03-14 03:50 GMT | USD/JPY call spreads attractive - Standard Chartered
2013-03-14 01:37 GMT | EUR/JPY puts pressure on 123.80/124.15 proven demand
----------------------
EURUSD :
HIGH 1.29814 LOW 1.29431 BID 1.29552 ASK 1.29561 CHANGE -0.04% TIME 08 : 49:08
https://support.fxcc.com/email/technical/14032013/EURUSD.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Price tested negative territory today however clearance of next resistive structure at 1.2982 (R1) might open the way towards to our initial target at 1.2997 (R2) and any further market rise would then be targeting 1.3013 (R3). Downwards scenario: On the other hand, an element of supportive measures is found at 1.2942 (S1). Clearance of this level would suggest further downtrend development with possible targets at 1.2927 (S2) and 1.2911 (S3).
Resistance Levels: 1.2982, 1.2997, 1.3013
Support Levels: 1.2942, 1.2927, 1.2911
----------------------
GBPUSD :
HIGH 1.49564 LOW 1.49124 BID 1.49401 ASK 1.49411 CHANGE 0.12% TIME 08 : 49:08
https://support.fxcc.com/email/technical/14032013/GBPUSD.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: Market remains sideways oriented. Next hurdle on the upside might be found at 1.4957 (R1), break here would open road towards to our next target at 1.4979 (R2) and enable final intraday resistive structure at 1.5001 (R3). Downwards scenario: Any downside fluctuations remains for now limited to the next support level at 1.4916 (S1), only clear break here would be a signal of possible market easing towards to next targets at 1.4890 (S2) and potentially to 1.4865 (S3).
Resistance Levels: 1.4957, 1.4979, 1.5001
Support Levels: 1.4916, 1.4890, 1.4865
---------------------
USDJPY :
HIGH 96.146 LOW 95.684 BID 95.953 ASK 95.959 CHANGE -0.17% TIME 08 : 49:09
https://support.fxcc.com/email/technical/14032013/USDJPY.gif
OUTLOOK SUMMARY : Down
TREND CONDITION : Downwar penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Upside risk aversion is seen above the next resistance level at 96.17 (R1). Appreciation above it would suggest us about the positive intraday bias formation towards to our next targets at 96.43 (R2) and 96.69 (R3). Downwards scenario: Fresh low formed today offers an important supportive mark at 95.66 (S1). Depreciation below it might shift medium-term tendency to the bearish side and validate our next intraday targets at 95.43 (S2) and 95.18 (S3).
Resistance Levels: 96.17, 96.43, 96.69
Support Levels: 95.66, 95.43, 95.18
Source: FX Central Clearing Ltd,( Best Forex Trading Software | Forex Currency Trading blog | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Mar 15 2013
Van Rompuy issues day-1 EU summit statement
After concluding the first evening of talks among Euro zone leaders, President of the European Council Herman Van Rompuy issued a first statement proving details over how best to guide European economic policies. Van Rompuy said: "We reconfirmed our overall economic strategy. It has four strands: First. Restoring financial stability, and maintaining it: this is vital for confidence of consumers and investors, a key condition for internal demand and growth; Second. Ensuring sound public finances, structurally sound; Third. Urgently fighting unemployment – especially for youth, for whom the situation is dramatic in some countries. Four. And reforming for long-term growth and competitiveness."
The statement adds: "We all agree we need to keep turning our commitments into actions and results. Implementation continues to be key. The good progress towards structurally balanced budgets must continue. For each individual country, it's about making choices that make sense in the long run: Pursuing well-designed structural reforms; Being ruthless on tax evasion. Shifting taxation away from labour; Expenditure cuts where it makes us fitter, not sacrificing vital areas like innovation or education; And launching fast-acting and targeted measures to boost growth and employment, in particular for the youth." Starting in June, Van Rompuy made the pledge to start looking not only at national reform and jobs plans, "but also at the results of the Growth Compact concluded last year" he said, adding that "as a matter of fact, the President of the European Commission made a first report on the results of the Growth Compact already this evening."
https://support.fxcc.com/email/technical/15032013/
Forex Economic Calendar :
N/A | E.M.U. European Council meeting
2013-03-15 10:00 GMT | E.M.U. Consumer Price Index (YoY) (Feb)
2013-03-15 12:30 GMT | United States. Consumer Price Index (YoY) (Feb)
2013-03-15 13:55 GMT | United States. Reuters/Michigan Consumer Sentiment Index (Mar)
Forex News :
2013-03-15 06:01 GMT | Euro buyers insist to defend $1.30; volatility to be on the rise
2013-03-15 04:48 GMT | USD/JPY unlikely to go lower on Japanese foreign investment - Nomura
2013-03-15 04:37 GMT | AUD/NZD higher, stalls below 1.2700/200 day SMA
2013-03-15 03:55 GMT | GBP could decline further – HSBC
-------------------
EURUSD
HIGH 1.30267 LOW 1.29992 BID 1.30192 ASK 1.30198 CHANGE 0.12% TIME 08 : 12:27
https://support.fxcc.com/email/technical/15032013/EURUSD.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Current price setup is aiming to resume initial upwards formation. Next resistive bastion lies at 1.3031 (R1). If the pair manages to overcome it we expect further progress towards to our initial targets at 1.3044 (R2) and 1.3057 (R3). Downwards scenario: Although, consolidation development looks reasonable on the hourly timeframe. If the market manages break our next support at 1.2997 (S1) we would suggest next supportive measures at 1.2985 (S2) and 1.2975 (S3).
Resistance Levels: 1.3031, 1.3044, 1.3057
Support Levels: 1.2997, 1.2985, 1.2975
----------------------
GBPUSD :
HIGH 1.51039 LOW 1.50686 BID 1.50857 ASK 1.50867 CHANGE 0.04% TIME 08 : 12:28
https://support.fxcc.com/email/technical/15032013/GBPUSD.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Market remains under the uptrend formation and a break above the resistance level at 1.5119 (R1) might resume bullish pressure. In such scenario, we would suggest next target at 1.5138 (R2) and 1.5156 (R3). Downwards scenario: Market decline below the next supportive mean at 1.5068 (S1) might trigger bearish pressure and enable lower target at 1.5047 (S2) and even 1.5027 (R3) mark could be exposed if the pair accelerates on the downside.
Resistance Levels: 1.5119, 1.5138, 1.5156
Support Levels: 1.5068, 1.5047, 1.5027
---------------------------
USDJPY :
HIGH 96.274 LOW 95.882 BID 96.089 ASK 96.093 CHANGE -0.02% TIME 08 : 12:29
https://support.fxcc.com/email/technical/15032013/USDJPY.gif
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: USDJPY continues moving sideways however we see possibility to overcome our next resistive barrier at 96.26 (R1). Progress above it would suggest next intraday targets at 96.48 (R2) and 96.70 (R3) in potential. Downwards scenario: Any downside penetration is limited to the initial support level at 95.88 (S1). A breach of which would open a route towards to next target at 95.67 (S2) and potentially could expose our final support for today at 95.42 (S3).
Resistance Levels: 96.26, 96.48, 96.70
Support Levels: 95.88, 95.67, 95.42
Source: FX Central Clearing Ltd,( Currency Trading Blog | Forex Account | ECN Forex Software | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Mar 18 2013
Cyprus faces 'corralito' à la Argentinean
Back in May 2012, fears that Greece may leave the EU triggered bank runs in the country, and many economist speculated with the possibility of the country establishing a “corralito”- the economic measures taken in Argentina at the end of 2001 that almost completely froze bank accounts and forbade withdrawals from U.S. dollar-denominated accounts. Bank runs extended then to Spain and Italy, although they finally come under control. But revival came back this weekend: Cyprus bail-out approval cost almost €6 billion to taxpayers, which next Tuesday –Monday will be declared bank holiday-, will find something different in their bank accounts: a one-off 9.9% levy imposed on all deposits over the insurance threshold of €100,000. For accounts below the insurance ceiling, the onetime tax will be of 6.75%.
Cyprus PM Michael Sarris, admitted it was a tough decision, and even stated “I wish I was not the minister to do this,” although he added that “much more money could have been lost in a bankruptcy of the banking system or indeed of the country.” Without a rescue, Cyprus would default and threaten to unravel investor confidence in the EU that has been fostered by ECB’s president Mario Draghi promise to do “whatever it takes” to shore up the currency bloc. However, a precedent has been set, and this partial “corralito” may trigger exactly what is trying to prevent: an erosion in investors’ confidence in the EU, and bank runs, if not in Cyprus, in the rest of the peripheral troubled countries. Monday European opening may see bank runs, particularly in Spain and Italy, and a domino effect may force governments to take extraordinary measures. “Corralito” arrived to Europe, and may be here to stay.
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Forex Economic Calendar :
2013-03-18 06:45 GMT | Switzerland. SECO Economic Forecasts
2013-03-18 10:00 GMT | E.M.U. Trade Balance n.s.a. (Jan)
2013-03-18 12:30 GMT | Canada. Foreign portfolio investment in Canadian securities (Jan)
2013-03-18 23:15 GMT | Australia. RBA Assist Gov Debelle Speech
Forex News :
2013-03-18 05:52 GMT | GBP/USD stable around 1.51 despite the turmoil
2013-03-18 05:27 GMT | Cyprus all over the place and EUR/USD below 1.29
2013-03-18 03:25 GMT | EUR/GBP tumbles through 0.8550 as Euro sell-offs
2013-03-18 02:43 GMT | EUR/JPY, break of 122.00 exposes 121.10/20 - V.Bednarik
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EURUSD :
HIGH 1.29315 LOW 1.28818 BID 1.29038 ASK 1.29043 CHANGE -1.3% TIME 08 : 57:38
https://support.fxcc.com/email/technical/18032013/EURUSD.gif
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Market dropped on the news from Cyprus and determined negative bias on the medium-term perspective. However break above the resistance at 1.2943 (R1) would suggest next target at 1.2971 (R1) en route towards to higher mark at 1.2999 (R3). Downwards scenario: The Asian session momentum on the downside suggests a possible move lower ahead. Key supportive bastion lie at 1.2881 (S1). Prolonged movement below it might then expose our intraday targets at 1.2857 (S2) and 1.2832 (S3).
Resistance Levels: 1.2943, 1.2971, 1.2999
Support Levels: 1.2881, 1.2857, 1.2832
--------------------------
GBPUSD :
HIGH 1.51305 LOW 1.50717 BID 1.51041 ASK 1.51052 CHANGE -0.02% TIME 08 : 57:39
https://support.fxcc.com/email/technical/18032013/GBPUSD.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low
Upwards scenario: GBPUSD trapped to the consolidation phase. Fractals level at 1.5115 (R1) offers a good resistance level. Break here is required to take the pair towards to initial targets, located at 1.5135 (R2) and 1.5156 (R3). Downwards scenario: As long as price stays below the moving averages our short-term outlook would be negative. Any extension lower the 1.5082 (S1) is being able to drive market price towards to our next targets at 1.5061 (S2) and 1.5040 (S3).
Resistance Levels: 1.5115, 1.5135, 1.5156
Support Levels: 1.5082, 1.5061, 1.5040
----------------------------
USDJPY :
HIGH 94.987 LOW 94.311 BID 94.464 ASK 94.467 CHANGE -0.83% TIME 08 : 57:40
https://support.fxcc.com/email/technical/18032013/USDJPY.gif
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low
Upwards scenario: USDJPY has gradually climbed eased during the Asian session, having made fresh low but lately lost momentum. In terms of technical levels next resistance level could be found at 94.98 (R1). Appreciation above it would enable higher marks at 95.22 (R2) and 95.45 (R3). Downwards scenario: Our medium-term outlook remains negative. If the pair accelerates on the downside and manage to break our next support level at 94.31 (S1), it is likely to expose our next support level at 94.08 (S2) and 93.85 (S3) later on today.
Resistance Levels: 94.98, 95.22, 95.45
Support Levels: 94.31, 94.08, 93.85
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Mar 19 2013
Will Cyprus Bailout Set Tone for Trading this Week?
The sharp sell-off in currencies and European equities overnight indicate that investors are shocked by Cyprus' bailout news as they should be since this would be the first time in Eurozone history that depositors have taken a loss. The EUR/USD may have rebounded off its lows on speculation about a modified deal that is less aggressive but regardless of how much depositors above or below 100,000 euros are taxed, the mere possibility that they will be taxed at all undermines the credibility of the entire banking system. Optimists argue that this situation is unique to Cyprus but we don't know how reassuring a watered down deal will be as this could set a precedent for the entire region. We won't even go into how unfair it is that senior bondholders are being saved at the expense of moms and pops and that depositors with money under their mattresses are safer than depositors in the bank. What we do know is that the Cyprus bailout has set the tone for trading in an extremely data and event risk heavy week by reawakening the fear of contagion. The vote in parliament on the bailout deal has been postponed until Tuesday and this means that this risk off tone will remain prevalent for the immediate future.
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Forex Economic Calendar :
N/A | United Kingdom. BOE Inflation Letter
2013-03-19 09:30 GMT | United Kingdom. Core Consumer Price Index (YoY) (Feb)
2013-03-19 10:00 GMT | Germany. ZEW Survey - Economic Sentiment (Mar)
2013-03-19 12:30 GMT | United States. Housing Starts (MoM) (Feb)
Forex News :
2013-03-19 05:30 GMT | GBP/USD going nowhere around 1.5100
2013-03-19 05:23 GMT | Euro buying interest fades ahead of 1.30
2013-03-19 03:41 GMT | AUD/USD reverses on Rio Tinto's comments
2013-03-19 02:31 GMT | USD/JPY breaks above 95.50
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EURUSD :
HIGH 1.29694 LOW 1.29339 BID 1.29358 ASK 1.29367 CHANGE -0.16% TIME 08 : 02:47
https://support.fxcc.com/email/technical/19032013/EURUSD.gif
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Currently price is stabilized however on a slightly longer term market sentiment remains negative. Appreciation above the resistance level at 1.2969 (R1) might prolong corrective action towards to next targets at 1.2993 (R2) and 1.3016 (R3). Downwards scenario: Signal of instrument depreciation would be created if EURUSD depreciates below the next support level at 1.2934 (S1). We would suggest next interim targets at 1.2912 (S2) and then aim at 1.2890 (S3).
Resistance Levels: 1.2969, 1.2993, 1.3016
Support Levels: 1.2934, 1.2912, 1.2890
---------------------------
GBPUSD :
HIGH 1.51128 LOW 1.5084 BID 1.50923 ASK 1.50937 CHANGE -0.09% TIME 08 : 02:48
https://support.fxcc.com/email/technical/19032013/GBPUSD.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: So far Instrument traded in consolidative phase and being unable to made significant price deviation from its average price. Our resistive barrier at 1.5115 (R1) limits upside expansion. Break here is required to establish upwards formation targeting 1.5135 (R2) and 1.5156 (R3). Downwards scenario: Bearish pressure could find momentum below the support at 1.5082 (S1). Possible downtrend expansion would open road towards to next target at 1.5061 (S2) and any further losses would then be limited to 1.5040 (S3) mark.
Resistance Levels: 1.5115, 1.5135, 1.5156
Support Levels: 1.5082, 1.5061, 1.5040
----------------------
USDJPY :
HIGH 95.746 LOW 95.123 BID 95.430 ASK 95.437 CHANGE 0.24% TIME 08 : 02:48
https://support.fxcc.com/email/technical/19032013/USDJPY.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Instrument has bounced back and currently trades within the bullish pattern. If It manages to break above the next resistance level at 95.75 (R1), we expect to see appreciation towards to next targets at 95.94 (R2) and 96.13 (R3). Downwards scenario: Risk of further price depreciation is seen below the support at 95.38 (S1). Loss here might enable bearish pressure and drive market price towards to next target at 95.19 (S2) and potentially could even expose our final target at 94.99 (S3) later on today.
Resistance Levels: 95.75, 95.94, 96.13
Support Levels: 95.38, 95.19, 94.99
Source: FX Central Clearing Ltd,( Best Forex Trading Platforms | Forex Practice Account | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Mar 20 2013
Cypriot levy rejected, European leaders weigh in
Cyprus’s parliament rejected an unprecedented levy on bank deposits, rendering a blow to European plans of coercing depositors to shoulder part of the country’s rescue in a standoff that risks renewed tumult in the euro area. Cypriot legislators in Nicosia voted 36 against to none in favor of the proposal in a show of hands today along with 19 abstentions – hammered out by euro-area finance leaders over the weekend, the deal had sought to raise €5.8B by drawing funds from Cyprus bank accounts in return for €10.0B in international aid. Stocks dropped and the euro fell to a three-month low against the dollar at the prospect of impasse in Cyprus. European officials including Dutch Finance Minister Jeroen Dijsselbloem had said that Cyprus must contribute to its own bailout, while stressing that the Cypriot situation is unique. German coalition lawmakers said that Cyprus can expect no aid without meeting the terms.
“Cyprus has rebuffed the outstretched hand” of its partners, Hans Michelbach, a German lawmaker from Chancellor Angela Merkel’s Christian Democratic bloc and the ranking member on parliament’s finance committee, noted in a statement. The vote is “an act of collective unreason” and “the people of Cyprus must now pay a high price.”The ECB said it “takes note of the decision of the Cypriot Parliament and is in contact with its Troika partners” from the International Monetary Fund and the European Commission, according to a statement. “The ECB reaffirms its commitment to provide liquidity as needed within the existing rules.”
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Forex Economic Calendar :
2013-03-20 07:00 GMT | Germany. Producer Price Index (YoY) (Feb)
2013-03-20 09:30 GMT | United Kingdom. Bank of England Minutes
2013-03-20 18:00 GMT | United States. Fed Interest Rate Decision
2013-03-20 21:45 GMT | New Zeland. Gross Domestic Product (QoQ) (Q4)
Forex News :
2013-03-20 05:50 GMT | GBP/USD below 1.5100 ahead of a very very busy day
2013-03-20 04:40 GMT | AUD/USD back to session highs, still sideways
2013-03-20 02:39 GMT | Euro area faces new challenge on Cyprus drama - Nomura
2013-03-20 01:53 GMT | USD/JPY kept below 95.00, sellers dominant s/t
--------------------
EURUSD :
HIGH 1.2879 LOW 1.28566 BID 1.28755 ASK 1.28762 CHANGE -0.06% TIME 08 : 07:31
https://support.fxcc.com/email/technical/20032013/EURUSD.gif
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EURUSD discounted value determined negative bias on the medium-term perspective. From the technical side, next resistance is seen at 1.2916 (R1). Only clearance here would allow further gains, targeting 1.2937 (R2) and 1.2959 (R3). Downwards scenario: Descending channel formation on the hourly chart frame is limited now to the session low - 1.2856 (S1). If the price manages to surpass it we would suggest next intraday targets at 1.2835 (S2) and 1.2813 (S3).
Resistance Levels: 1.2916, 1.2937, 1.2959
Support Levels: 1.2856, 1.2835, 1.2813
---------------------------
GBPUSD :
HIGH 1.51065 LOW 1.50798 BID 1.50891 ASK 1.50902 CHANGE -0.05% TIME 08 : 07:32
https://support.fxcc.com/email/technical/20032013/GBPUSD.gif
OUTLOOK SUMMARY Neutral
TREND CONDITION Sideway
TRADERS SENTIMENT Bearish
IMPLIED VOLATILITY High
Upwards scenario: GBPUSD is consolidating on the hourly chart however we see potential for further appreciation towards to our targets at 1.5128 (R2) and 1.5149 (R3) if the price manages to overcome key resistance measure at 1.5107 (R1). Downwards scenario: On the other hand, price pattern suggests bearish potential if the instrument manages to overcome next support level at 1.5072 (S1). Possible price regress could exposed our initial targets at 1.5053 (S2) and 1.5033 (S3) in potential.
Resistance Levels: 1.5107, 1.5128, 1.5149
Support Levels: 1.5072, 1.5053, 1.5033
---------------------------
USDJPY :
HIGH 95.202 LOW 94.829 BID 95.035 ASK 95.040 CHANGE -0.13% TIME 08 : 07:33
https://support.fxcc.com/email/technical/20032013/USDJPY.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Instrument consolidates after the initial price cut yesterday though our medium-term outlook is positive. Our reference point for the upside penetration locates at 95.22 (R1). Clearance here is required to enable higher targets at 95.39 (R2) and 95.55 (R3). Downwards scenario: On the downside our attention is put to the immediate support level at 94.99 (S1). Break here is required to enable bearish forces and expose our intraday targets at 94.83 (S2) and 94.67 (S3
Resistance Levels: 95.22, 95.39, 95.55
Support Levels: 94.99, 94.83, 94.67
Source: FX Central Clearing Ltd,( ECN Forex Trading Accounts | ECN Broker List | Currency Converter | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Mar 21 2013
Fitch downgrades Italy to BBB+, outlook negative
Fitch Ratings decided to downgrade Italy's rating to 'BBB+' from 'A-', citing the inconclusive results of the Italian parliamentary elections and deeper recession as the main reasons. Fitch also kept negative outlook on the country, meaning Italy could see another downgrade. "The inconclusive results of the Italian parliamentary elections on 24-25 February make it unlikely that a stable new government can be formed in the next few weeks", said Fitch. "The increased political uncertainty and non-conducive backdrop for further structural reform measures constitute a further adverse shock to the real economy amidst the deep recession". Fitch also said that the ongoing recession in Italy is one of the deepest in Europe as confirmed by Q412 data.
Following what could be described as a 'remarkable' jobs number in the United States last Friday, with the jobless rate down to 7.7% and the economy creating 236K new jobs, highest since early 2012, the US Dollar continues to be one of the big winners in the currency market. Are the stars aligning for further Greenback strength? Before touching on the prospects for further USD appreciation, especially against the Euro, an interesting phenomenon not to ignore last Friday is the positive correlation between the US Dollar and the equity market, an occurrence which has seen commentators of the market busy speculating such behaviour as an early sign of improvement in market confidence.
https://support.fxcc.com/email/technical/11032013/
Forex Economic Calendar :
2013-03-11 07:00 GMT | Germany. Trade Balance s.a. (Jan)
2013-03-11 09:00 GMT | Italy. Gross Domestic Product (YoY) (Q4)
2013-03-11 21:00 GMT | New Zeland. REINZ House Price Index (MoM) (Feb)
2013-03-11 23:50 GMT | Japan. BoJ Monetary Policy Meeting Minutes
Forex News :
2013-03-11 05:46 GMT | EUR/USD, the 1.30 flirt goes on ...
2013-03-11 05:22 GMT | GBP/USD resting above 1.4900
2013-03-11 03:28 GMT | AUD/JPY holding above 98 on the back of Yen weakness
2013-03-11 01:15 GMT | EUR/JPY unchanged below 125.00
EURUSD :
HIGH 1.3009 LOW 1.29792 BID 1.30027 ASK 1.30035 CHANGE 0.03% TIME 08 : 04:55
https://support.fxcc.com/email/technical/11032013/EURUSD.gif
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Our medium-term outlook is negative for the EURUSD though possibility of price deviation is seen above the next resistance level at 1.3016 (R1). Retracement targets could be exposed at 1.3035 (R2) and 1.3054 (R3). Downwards scenario: Activation of bearish forces is possible below the support level at 1.2979 (S1). Clearance here would suggest next interim target at 1.2960 (S2) and if the price holds its momentum on the downside we would suggest final target for today at 1.2941 (S3).
Resistance Levels: 1.3016, 1.3035, 1.3054
Support Levels: 1.2979, 1.2960, 1.2941
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GBPUSD :
HIGH 1.49273 LOW 1.49009 BID 1.49263 ASK 1.49274 CHANGE 0.07% TIME 08 : 04:55
https://support.fxcc.com/email/technical/11032013/GBPUSD.gif
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low
Upwards scenario: Breaching of resistance at 1.4958 (R1) is required to provide an evidence of corrective action. Possible targets could be exposed at 1.4990 (R2) and 1.5022 (R3) later on today in such scenario. Downwards scenario: Fresh low formed today offers an important support level at 1.4899 (S1). Discounted value of GBPUSD might push through this mark and enable next visible target at 1.4866 (S2) en route to support at 1.4834 (S3).
Resistance Levels: 1.4958, 1.4990, 1.5022
Support Levels: 1.4899, 1.4866, 1.4834
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USDJPY :
HIGH 96.256 LOW 95.94 BID 96.125 ASK 96.131 CHANGE 0.12% TIME 08 : 04:56
https://support.fxcc.com/email/technical/11032013/USDJPY.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: Next immediate resistive barrier is seen at 96.30 (R1). If instrument gains momentum on the upside and manage to overcome it we would focus on the intraday targets at 96.68 (R2) and 97.07 (R3) in potential. Downwards scenario: Although market price remained relatively stable, depreciation below the next support level at 95.49 (S1) might assist to recovery formation evolvement. We expect that our intraday target at 95.10 (S2) and 94.70 (S3) could be exposed later on today in such case.
Resistance Levels: 96.30, 96.68, 97.07
Support Levels: 95.49, 95.10, 94.70
Source: FX Central Clearing Ltd,( FX Central Clearing Ltd (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Mar 22 2013
Dimitriadis presents a resolution process to the Cypriot Parliament
The Cypriot Central Bank governor Panicós Dimitriadis has announced a bank restructuring plan that will allow banks to reopen on Tuesday. Dimitriadis said on Thursday that the bill would protect bank deposits up to €100K according to sources. Earlier, the Popular bank allowed costumers to withdrawal cash but limited by individual to 260 euros a day. Bloomberg has published that the bill has the approval of the Troika, however, the Eurogroup is weighing the close of the Cyprus Popular bank and the bank of Cyprus.
With European data disappointing and U.S. economic data surprising to the upside investors have returned to selling euros. Not only has tail risk in the Eurozone returned with the ECB threatening to pull support from Cyprus if an agreement is not reached by Monday but the outlook for growth has taken a turn for the worse, compounding the euro's problems. Eurozone manufacturing and service sector activity contracted at a faster pace in the month of March with the Eurozone PMI Composite index dropping to 46.5 from 47.9. While this is not the lowest reading that we have seen in the past 6 months, the cracks in Germany are reappearing. The Eurozone's largest economy is no longer able to provide umbrella support for the rest of the region and is now weakening alongside France, Italy and Spain. Tomorrow's German IFO report will most likely tell the same story of weakness in the Eurozone economy. The deteriorating growth outlook and risks posed by Cyprus and Italy (lets not forget about the unresolved elections) makes the euro less attractive than the dollar and should continue to add pressure on the currency.
https://support.fxcc.com/email/technical/22032013/
Forex Economic Calendar :
2013-03-22 08:00 GMT | E.M.U. Cyprus Parliament Vote on Banking Restructuring, Wealth Fund Bill
2013-03-22 09:00 GMT | Germany. IFO - Business Climate (Mar)
2013-03-22 09:00 GMT | Germany. IFO - Expectations (Mar)
2013-03-22 14:00 GMT | Belgium. Leading Indicator (Mar)
Forex News :
2013-03-22 05:59 GMT | EUR/USD falls below 1.29, Cyprus fails to get Russian aid
2013-03-22 05:51 GMT | USD/JPY breaks down to yesterday's 94.50 lows
2013-03-22 05:43 GMT | Cyprus mission in Russia fails
2013-03-22 05:21 GMT | GBP/USD looking at 1.5200 asks
EURUSD :
HIGH 1.29244 LOW 1.28882 BID 1.28994 ASK 1.28999 CHANGE 0.01% TIME 08 : 41:37
https://support.fxcc.com/email/technical/22032013/EURUSD.gif
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Market having failed to establish directional movement yesterday. Possible price strengthening might arise above the next resistance level at 1.2925 (R1). Our interim target holds at 1.2942 (R2) en route toward to our major aim at 1.2960 (R3). Downwards scenario: Further devaluation is limited to the supportive barrier at 1.2879 (S1). Only loss here would be considered as new step of downtrend expansion, targeting 1.2861 (S2) and 1.2844 (S3).
Resistance Levels: 1.2925, 1.2942, 1.2960
Support Levels: 1.2879, 1.2861, 1.2844
-------------------------
GBPUSD :
HIGH 1.51945 LOW 1.5165 BID 1.51878 ASK 1.51888 CHANGE 0.1% TIME 08 : 41:38
https://support.fxcc.com/email/technical/22032013/GBPUSD.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: A bullish momentum might occur if the price manages to climb above the key resistance level at 1.5208 (R1). Next targets on the way could be exposed at 1.5234 (R2) and 1.5260 (R3). Downwards scenario: We do expect some pull-backs development on the downside below the support level at 1.5156 (S1). Short-term momentum on the negative side might open the way towards to immediate supports at 1.5127 (S2) and 1.5100 (S3).
Resistance Levels: 1.5208, 1.5234, 1.5260
Support Levels: 1.5156, 1.5127, 1.5100
----------------------
USDJPY :
HIGH 95.132 LOW 94.545 BID 94.683 ASK 94.688 CHANGE -0.23% TIME 08 : 41:39
https://support.fxcc.com/email/technical/22032013/USDJPY.gif
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Pair has settled negative bias on the hourly timeframe. However potential to move higher is seen above the 95.14 (R1) resistance level. Violation here would suggest next intraday targets at 95.34 (R2) and 95.55 (R3). Downwards scenario: Risk of market weakening is seen below the key support at 94.41 (S1). Loss here is required to allow further declines and expose our support barrier at 94.22 (S3) en route towards to final target for today at 94.02 (S3)
Resistance Levels: 95.14, 95.34, 95.55
Support Levels: 94.41, 94.22, 94.02
Source: FX Central Clearing Ltd,( Currency Converter | Top ECN Forex Broker | Forex Software | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Mar 25 2013
Eurogroup reaches agreement with Cypriot authorities
Already finished Eurogroup and FMI press conference, attending IMF chief Christine Lagarde, Eurogroup Chairman Jeroen Dijsselbloem, EU's commissioner for economic affairs Olli Rehn, European Central Bank (ECB) board member Jorg Asmussen, and ESM managing director Klaus Regling, the Eurogroup has reached an agreement with the Cypriot authorities “on the key elements necessary for a future macroeconomic adjustment programme,” the official Eurogroup statement reads. The agreement comes from all sides of the table, including all Euro area members states, along with the ECB, the IMF, and the ESM, also known as Troika. No further Cyprus parliament voting will be needed as the levy part of the deal has been “avoided”, EU chairman said, remarking “should be no doubts about that,” referring to any kind of discount on deposits below insured € 100k accounts.
Main focus on the deal has been reduced to the banking sector, also explained Mr Dijsselbloem, where "solution focuses on troubled banks," and the insured deposits. Among other measures, solution passes through a “split in a good and a bad bank”, said EU's chairman, with the “bad” one “gone” in some uncertain future time. Laiki Bank, the “bad” bank, “will ultimately disappear," said IMF's Lagarde. Bank of Cyprus would be the “good” one, where under € 100k secured deposits would be transferred. Asked if there is any chance the “bad bank” survives, Dijsselbloem said there could be a small part left, but that only time could tell. For the amount of haircuts in unsecured deposits, no concrete answers were also given, saying "numbers will have to be calculated," noted Dijsselbloem, adding: "can't put a number on that yet." Olli Rehn also referred to upcoming EU memorandum by mid April as a source for further answers. When questioned if all this agreement was mainly just to “buy some time,” EU commissioner denied it.-https://support.fxcc.com/email/technical/25032013/
Forex Economic Calendar :
N/A | United States. Fed's William Dudley speech
2013-03-25 09:30 GMT | United Kingdom. BBA Mortgage Approvals (Feb)
2013-03-25 17:15 GMT | United States. Fed's Bernanke Speech
2013-03-25 21:45 GMT | New Zeland. Trade Balance (YoY) (Feb)
Forex News :
2013-03-25 06:24 GMT | EUR/USD still bearish despite the good news - UBS
2013-03-25 04:01 GMT | Eurogroup reaches agreement with Cypriot authorities
2013-03-25 01:42 GMT | EUR/JPY soars on Cyprus tentative deal
2013-03-25 01:13 GMT | AUD/USD holds below 1.0460
--------------------------
EURUSD :
HIGH 1.30482 LOW 1.29414 BID 1.30342 ASK 1.30348 CHANGE 0.34% TIME 08 : 35:13
https://support.fxcc.com/email/technical/25032013/EURUSD.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: The pair accelerates on the upside and determined positive market sentiment. If it manages to climb above the resistance level at 1.3049 (R1) there is a chance for a move towards to next targets at 1.3065 (R2) and 1.3081 (R3). Downwards scenario: On the other hand, pair looks overbought and possibility of correction is high. Next on tap is seen support level at 1.3010 (S1). Below here locates initial targets at 1.2993 (S2) and 1.2975 (S3).
Resistance Levels: 1.3049, 1.3065, 1.3081
Support Levels: 1.3010, 1.2993, 1.2975
--------------------
GBPUSD :
HIGH 1.52598 LOW 1.52233 BID 1.52434 ASK 1.52445 CHANGE 0.11% TIME 08 : 35:13
https://support.fxcc.com/email/technical/25032013/GBPUSD.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: Our technical outlook for the medium-term perspective remains bullish oriented. Clearance of next resistance level at 1.5260 (R1) would enable bullish pressure and might expose our next targets at 1.5291 (R2) and 1.5322 (R3) in potential. Downwards scenario: On a slightly longer term we expect pullback formation. Risk of market depreciation is seen below the next support level at 1.5208 (S1). Clearance here would suggest next intraday targets at 1.5177 (S2) and 1.5144 (S3).
Resistance Levels: 1.5260, 1.5291, 1.5322
Support Levels: 1.5208, 1.5177, 1.5144
------------------------------------
USDJPY :
HIGH 94.962 LOW 94.354 BID 94.657 ASK 94.664 CHANGE 0.21% TIME 08 : 35:14
https://support.fxcc.com/email/technical/25032013/USDJPY.gif
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low
Upwards scenario: Market tested positive side today and formed gradual ascending move. Next resistance in focus stays at 94.97 (R1). If the break occur here we might see stronger move, targeting next attractive points at 95.20 (R2) and 95.43 (R3). Downwards scenario: Progress below the initial support level at 94.48 (S1) might trigger protective orders and stopped current consolidation development. Our intraday targets are seen at 94.25 (S2) and 94.01 (S3).
Resistance Levels: 94.97, 95.20, 95.43
Support Levels: 94.48, 94.25, 94.01
Source: FX Central Clearing Ltd,( Forex Software | Free Forex Demo Account | Best Forex Broker | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Mar 26 2013
Cypriot central bank to meet tonight on capital controls
In an effort to avoid the money's outflow, the Cypriot central bank will meet tonight in an extraordinary session to introduce capital restrictions according to the Cyprus' president Anastasiades. The president also said, in a recent speech, the capital controls will be a temporary measure but difficult measures will be implemented in the following days. Meanwhile, Cypriot banks will open on Tuesday except Bank of Cyprus and Laiki. Earlier on the day, Jeroen Dijsselbloem, head of the Eurogroup of eurozone finance ministers, affirmed that the Cypriot plan would be used as template for another countries in the eurozone. Investors were afraid for more levys and capital restrictions across the union. Renewed jitters on Cyprus and fears of contagion to other indebted sovereigns in the bloc periphery have been weighting on EUR after the increased vulnerability seen in Cypriot deposits.
And speaking of anti-climaxes, Cyprus appears to have reached an agreement to avoid bankruptcy but, whilst it protects savers with less than €100,000 on account in Cypriot banks, bond holders in Laiki Bank will lose their funds and depositors with more than €100,000 in Laiki will lose a substantial part of those funds. The accounts will be frozen while the bank is closed down and most of its debt transferred to Bank of Cyprus and that could result in larger investors losing up to 90% of their funds. That isn’t going to make Cyprus popular with their Russian and Eastern European tax avoiders and it won’t make Europe popular with Russia either. That’s could be a problem because Russia controls a massive amount of the energy used by Europe. If Cyprus and the EU wanted to make enemies, other than invading Russia, they couldn’t have hatched a better plan.
http://blog.fxcc.com/forex-technical-market-analysis-march-26-2013/
FOREX ECONOMIC CALENDAR :
2013-03-26 07:00 GMT | United Kingdom. Nationwide Housing Prices n.s.a (YoY)
2013-03-26 12:30 GMT | United States. Durable Goods Orders (Feb)
2013-03-26 14:00 GMT | United States. Consumer Confidence (Mar)
2013-03-26 14:00 GMT | United States. New Home Sales (MoM) (Feb)
FOREX NEWS :
2013-03-26 05:51 GMT | AUD/USD unchanged as RBS Stevens speech a non event
2013-03-26 05:19 GMT | EUR/USD down to 1.2660 now and option
2013-03-26 01:41 GMT | USD/JPY higher on Kuroda's promises; Again
2013-03-26 01:32 GMT | GBP/JPY recovers ground as Kuroda speaks
MARKET ANALYSIS – Intraday Analysis
-------------------------------------
Forex Technical Analysis EURUSD
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Upwards scenario: EUR extended its decline versus the USD and determined negative medium-term technical outlook. However above the resistance at 1.2894 (R1) opens a route towards to next resistive measures at 1.2919 (R2) and 1.2945 (R3) Downwards scenario: In terms of technical levels, risk of price depreciation is seen below the next support level at 1.2829 (S1). Loss here would suggest to monitor marks at 1.2806 (S2) and 1.2784 (S3) as possible intraday targets.
Resistance Levels: 1.2894, 1.2919, 1.2945
Support Levels: 1.2829, 1.2806, 1.278
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Forex Technical Analysis GBPUSD
http://blog.fxcc.com/wp-content/uploads/2013/03/23.gif
Upwards scenario: Instrument formed fresh low yesterday however retail trades sentiment shifted to the bullish side on the short-term perspective. Further market rise is limited now to the key barrier at 1.5208 (R1), clearance here is required to enable next resistances at 1.5234 (R2) and last one at 1.5261 (R3). Downwards scenario: Failure to establish further gains might lead to the price depreciation. Next immediate support could be found at 1.5142 (S1). Break here is required to open route towards to our targets at 1.5118 (S2) and 1.5093 (S3).
Resistance Levels: 1.5208, 1.5234, 1.5261
Support Levels: 1.5142, 1.5118, 1.5093
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Forex Technical Analysis USDJPY
http://blog.fxcc.com/wp-content/uploads/2013/03/33.gif
Upwards scenario: Medium- term tendency remains bearish as both moving averages are pointing down. Though risk of market strengthening is seen above the resistance level at 94.45 (R1). Clearance here would open way towards to next targets at 94.67 (R2) and 94.90 (R3). Downwards scenario: Risk of market decline is seen below the key support level at 93.86 (S1). Loss here might downgrade currency rate towards to the next supportive means at 93.64 (S2) and 93.43 (S3) in potential.
Resistance Levels: 94.45, 94.67, 94.90
Support Levels: 93.86, 93.64, 93.43
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Mar 27 2013
European Parliament considers bailing-in large depositors
The euro dropped in the European afternoon on information from Reuters that the European Parliament would be inclined to bail-in big savers, who hold deposits of over 100,000 euros at distressed banks. MEP Gunnar Hokmark, who is taking part in creating a new law aimed at dealing with such banks told Reuters that: "Deposits below 100,000 euros are protected … deposits above 100,000 euros are not protected and shall be treated as part of the capital that can be bailed in." Eurogroup chief Jeroen Dijsselbloem’s comments on Monday, suggesting that the bailout deal struck between Cyprus and the Troika might be a model for rescue programs for other EU countries in the future, caused the European stock markets to drop sharply in late trading.
Wall Street rises despite bad US data and Cyprus. The US stocks market traded higher on Tuesday as market didn't pay much attention to the lower-than-expected US consumer confidence but better-than-expected home prices. The Dow surged to new all-time high. The Dow Jones advaced 111.90 points or 0.77% to close at 14,559.65. The S&P 500 added 12.08 points or 0.78% to end the day at 1,563.77. And the Nasdaq Composite gained 17.18 points or 0.53% to finish at 3,252.48.
http://blog.fxcc.com/forex-technical-market-analysis-march-27-2013/
FOREX ECONOMIC CALENDAR :
2013-03-27 09:30 GMT | United Kingdom. UK Gross Domestic Product (YoY) (Q4)
2013-03-27 10:00 GMT | E.M.U. Consumer Confidence (Mar)
2013-03-27 12:30 GMT | Canada. Bank of Canada Consumer Price Index
2013-03-27 14:00 GMT | United States. Pending Home Sales (YoY)
FOREX NEWS :
2013-03-27 07:24 GMT | EUR/USD muted after German data
2013-03-27 06:25 GMT | Time to build a short position in JPY again – RBS
2013-03-27 04:28 GMT | USD/JPY climbs above 94.80 helped by USD buying across the board
2013-03-27 03:27 GMT | NZD/USD, exporters keen buyers of NZD dips – BNZ
MARKET ANALYSIS – Intraday Analysis
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Upwards scenario: Neutral channel formation remains in play on the hourly chart. Our next resistance level is placed above the local peak at 1.2868 (R1). Strengthening above it would point to resistive structure at 1.2890 (R2) onto 1.2912 (R3). Downwards scenario: While both moving averages are pointing down, medium-term technical outlook would be negative. Key support level lie at 1.2837 (S1), below here opens a route towards to our initial targets at 1.2815 (S2) and 1.2793 (S3).
Resistance Levels: 1.2868, 1.2890, 1.2912
Support Levels: 1.2837, 1.2815, 1.2793
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Forex Technical Analysis GBPUSDUpwards scenario: Next resistance level is seen at 1.5170 (R1), subsequently loss here might create upside momentum and drive market price towards to next targets at 1.5190 (R2) and 1.5210 (R3) in potential. Downwards scenario: If the price failed to establish further positive bias today, we expect to see retest of our key support level at 1.5147 (S1). Break here is required to enable initial targets at 1.5128 (S2) and 1.5 109 (S3) in potential.
Resistance Levels: 1.5170, 1.5190, 1.5210
Support Levels: 1.5147, 1.5128, 1.5109
http://blog.fxcc.com/wp-content/uploads/2013/03/34.gif
Upwards scenario: Next hurdle on the upside is seen at important technical level – 94.90 (R1). If the price manages to overcome it we expect further acceleration towards to our initial targets at 95.08 (R2) and 95.25 (R3). Downwards scenario: Instrument might retest our next support level at 94.58 (S1) later on today. Market decline below it would create bearish sentiment and enable our interim target at 94.40 (S2). Final support for today locates at 94.22 (S3).
Resistance Levels: 94.90, 95.08, 95.25
Support Levels: …..
Source: FX Central Clearing Ltd,( Currency Converter | ECN Broker | Forex Trading Account | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Mar 28 2013
Capital controls in Cyprus to affect international transactions
he Cypriot government has revealed the details of the capital controls it intends to impose on transfers before banks reopen on Thursday. The restrictions are aimed at preventing an outflow of money and are supposed to last seven days. The capital controls, which will affect all accounts regardless of their currency, will involve a ban on taking out sums of money in cash greater than 3000 euros on one trip out of the country and a monthly 5000 euro limit on credit and debit card transactions abroad. Additionally, cashing cheques will be prohibited and savings accounts frozen until their expiry date. Restrictions on ATM withdrawals have not been listed among the capital control measures, even though they currently exist.
The financial markets are still mulling over the repercussions of the Cyprus drama and their angst is being fuelled by comments by Dutch Finance Minister Jeroen Dijsselbloem, that the EU sees the Cyprus deal as a template for any further bailouts. i.e. bond holders will lose their fund entirely and larger savers would have some of their funds syphoned off to aid the bailout. That was later denied according to a report on Bloomberg but investors with funds in EU banks are understandably edgy and all eyes will be on the Cypriot withdrawals over the weeks ahead. The fear of a run on European banks and the political pressure that would produce is ever-present and there are many reports about the rise of the German Anti-Euro political party. The Euro remains at the weaker end of its range in anticipation of those events
http://blog.fxcc.com/forex-technical-market-analysis-march-28-2013/
FOREX ECONOMIC CALENDAR :
2013-03-28 07:00 GMT | Germany. Unemployment Change (Mar)
2013-03-28 12:30 GMT | United States. Gross Domestic Product Annualized (Q4)
2013-03-28 12:30 GMT | Canada. Gross Domestic Product (MoM) (Jan)
2013-03-28 23:30 GMT | Japan. Unemployment Rate (Feb)
FOREX NEWS :
2013-03-28 02:23 GMT | AUD/USD turns bearish as stocks decline in Asia
2013-03-28 02:22 GMT | USD/JPY dips to 94.10 lows post-Kuroda
2013-03-28 02:03 GMT | New Zealand: M3 Money Supply (YoY) (Feb): 6.6% vs 6.4%
2013-03-28 01:40 GMT | EUR/AUD keeps pushing below 1.2250
Forex Technical Analysis EURUSD
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MARKET ANALYSIS – Intraday Analysis
Upwards scenario: The low of the 26-03-2013 offers an important resistive level at 1.2829 (R1). Any penetration above it might shift the balance to the bullish side and validate our intraday targets at 1.2859 (R2) and 1.2889 (R3). Downwards scenario: Further downtrend evolvement might occur below the immediate support level at 1.2752 (S1). Clearance here is required to enable our next targets at 1.2722 (S2) and 1.2693 (S3) in potential.
Resistance Levels: 1.2829, 1.2859, 1.2889
Support Levels: 1.2752, 1.2722, 1.2693
Forex Technical Analysis GBPUSD
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Upwards scenario: Next hurdle that limit uptrend development lies above the local high at 1.5149 (R1). If the break occurs here, next attractive level could be exposed at 1.5165 (R2) and any further rise would then be limited to 1.5181 (R3). Downwards scenario: On the other hand, possibility of market decline is seen below the next support level at 1.5127 (S1). Loss here would suggest next targets at 1.5110 (S2) and 1.5092 (S3).
Resistance Levels: 1.5149, 1.5165, 1.5181
Support Levels: 1.5127, 1.5110, 1.5092
Forex Technical Analysis USDJPY
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Upwards scenario: Possibility of market strengthening is seen above the resistance level at 94.27 (R1). Clearance here is required to validate next interim target at 94.42 (R2) and any further rise would then be targeting mark at 94.58 (R3). Downwards scenario: However the downside direction remains favored according to the technical indicators. Fresh low offers a key support measure at 93.98 (S1). Decline below it would enable next targets located at 93.83 (S2) and 93.69 (S3).
Resistance Levels: 94.27, 94.42, 94.58
Support Levels: 93.98, 93.83, 93.69
Source: FX Central Clearing Ltd,( Best Forex Trading Platform | ECN Broker Account | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Mar 29 2013
The Cyprus moment
The euro zone could be slipping into a new period of turbulence even before it has had a chance to return to growth. And yet the improvement previously discussed in these pages has been confirmed: borrowing conditions for governments have improved and some, such as Ireland, have made a successful return to the markets. Ratings on sovereign debt have stabilised. One sign of an easing of financial tensions in the zone is that the internal balances in the Eurosystem, as reflected in Target 2 balances, have narrowed to a degree. These are encouraging but fragile signs that could be compromised by the difficulties in managing the Cypriot crisis or by the political uncertainty in Italy. Is there a new European crisis brewing in Cyprus? The country’s banking system needs to be recapitalised, failing which the European Central Bank (ECB) – which is not responsible for solvency issues – could cease to provide support. However, given the size of the banking sector (seven times GDP) the sums in play by far exceed the country’s repayment capacity. The EUR 17bn of total needs (of which EUR 10bn for banks) account for one year’s GDP for Cyprus, which is only the 26th biggest economy in European Union. A loan of this amount from the European Stability Mechanism (ESM) would push government debt up to the unsustainable level of around 200% of GDP. The main risk would then be the snuffing out of the Cypriot economy for many years, with no certainty that any financial aid would in fact be repaid.
https://support.fxcc.com/email/technical/29032013/
FOREX ECONOMIC CALENDAR :
2013-03-29 12:30 GMT | United States. US Core Personal Consumption Expenditure - Prices Index (YoY) (Feb)
2013-03-29 12:30 GMT | United States. US Personal Income (MoM) (Feb)
2013-03-29 12:30 GMT | United States. US Personal Spending (Feb)
2013-03-29 13:55 GMT | United States. Reuters/Michigan Consumer Sentiment Index (Mar)
FOREX NEWS :
2013-03-29 07:07 GMT | EUR/USD hovering around 1.2800
2013-03-29 06:00 GMT | GBP/USD holding around 1.5200
2013-03-29 05:36 GMT | Japan data disappoints; Yen advances a bit
2013-03-29 03:53 GMT | EUR/JPY gravitating around 120.70
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EURUSD :
HIGH 1.28367 LOW 1.27934 BID 1.28082 ASK 1.28086 CHANGE -0.07% TIME 09 : 14:14
https://support.fxcc.com/email/technical/29032013/EURUSD.gif
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: On the upside resistive structure at 1.2836 (R1) prevents further gains. Clearance here is required to open route towards to next target at 1.2859 (R2) and then final target could be triggered at 1.2884 (R3). Downwards scenario: On the other hand price could retest our next support level at 1.2787 (S1) later on today. Successful penetration below it would suggest next intraday targets at 1.2764 (S2) and 1.2740 (S3).
Resistance Levels: 1.2836, 1.2859, 1.2884
Support Levels: 1.2787, 1.2764, 1.2740
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GBPUSD :
HIGH 1.52187 LOW 1.5177 BID 1.51814 ASK 1.51827 CHANGE -0.06% TIME 09 : 14:15
https://support.fxcc.com/email/technical/29032013/GBPUSD.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Technically medium-term bias remains positive. Next resistive structure holds above the local high of the day - at 1.5218 (R1). Break here would suggest marks at 1.5231 (R2) and 1.5244 (R3) as next visible targets. Downwards scenario: Activation of bearish forces is possible below the support level at 1.5167 (S1). Clearance here would suggest next interim target at 1.5153 (S2) and if the price holds its momentum on the downside we would suggest final target for today at 1.5140 (S3).
Resistance Levels: 1.5218, 1.5231, 1.5244
Support Levels: 1.5167, 1.5153, 1.5140
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USDJPY :
HIGH 94.299 LOW 93.973 BID 94.046 ASK 94.061 CHANGE -0.1% TIME 09 : 14:16
https://support.fxcc.com/email/technical/29032013/USDJPY.gif
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Any upside actions looks limited to resistance level at 94.25 (R1). Surpassing of this level might enable next target at 94.38 (R2) and any further gains would then be targeting final mark at 94.51 (R3) in potential. Downwards scenario: Fractal level accumulation on the 93.95 (S1) zone offers an important technical level. Discounted value of USDJPY might push through this mark and enable next visible target at 93.82 (S2) en route to support at 93.69 (S3).
Resistance Levels: 94.25, 94.38, 94.51
Support Levels: 93.95, 93.82, 93.69
Source: FX Central Clearing Ltd,( FX Central Clearing Ltd (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Apr 01 2013
US Data, Italian Politics and Holidays
While it has been and will continue to be an exceedingly quiet morning in the foreign exchange market with most of the major markets closed for the Easter holidays, there were still have a few pieces of U.S. data released this morning. Personal income rose 1.1% in the month of February while personal spending rose 0.7%. USD/JPY barely reacted to the news because there's no one trading today but both numbers were better than expected and consistent with a continued recovery in the U.S. economy. The stronger increase in incomes versus spending is also a healthy trend that makes the light at the end of the tunnel shine slightly brighter for the Federal Reserve. The final University of Michigan Consumer Confidence numbers will be released later this morning but no revisions are expected and so the data should be a nonevent for the U.S. dollar.
Now that the situation in Cyprus has been pacified, the focus in Europe has shifted back to Italy where there were rumors that Berlusconi is open to a coalition with Bersani. He has since denied this possibility, saying instead that a grand coalition with an agreement on program reforms is the only acceptable option. Recent polls suggest that 50% of Italians are ready to vote again. - https://support.fxcc.com/email/technical/01042013/
FOREX ECONOMIC CALENDAR :
2013-04-01 14:00 GMT | USA.Construction Spending (MoM) (Feb)
2013-04-01 14:00 GMT | USA.ISM Manufacturing PMI (Mar)
2013-04-01 14:00 GMT | USA.ISM Prices Paid (Mar)
2013-04-01 22:30 GMT | AU.AiG Performance of Mfg Index (Mar)
FOREX NEWS :
2013-04-01 04:31 GMT | EUR/USD offered below 1.28; Italy and Cyprus main focus
2013-04-01 04:06 GMT | GBP/USD, premature to abandon bullish H&S pattern - BBH
2013-04-01 02:59 GMT | AUD/JPY lowest in 2 weeks, holds above 97.50
2013-04-01 01:26 GMT | USD/JPY dips further, 94.00 holds
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EURUSD :
HIGH 1.28129 LOW 1.2771 BID 1.27834 ASK 1.27842 CHANGE -0.25% TIME 08 : 02:10
https://support.fxcc.com/email/technical/01042013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: The recent price acceleration on the upside suggests a possible move higher ahead. Next on tap is resistive barrier at 1.2810 (R1) on the way towards to higher targets at 1.2844 (R2) and 1.2866 (R3). Downwards scenario: Although market players may prefer to increase exposure on the short positions and push the price below the support level at 1.2768 (S1). Possible price devaluation would suggest next initial targets at 1.2742 (S2) and then 1.2701 (S3).
Resistance Levels: 1.2810, 1.2844, 1.2866
Support Levels: 1.2768, 1.2742, 1.2701
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GBPUSD :
HIGH 1.52018 LOW 1.51777 BID 1.51892 ASK 1.51904 CHANGE -0.07% TIME 08 : 02:10
https://support.fxcc.com/email/technical/01042013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Medium-term negative bias pressure the price lower however instrument might find buyers above the important resistance level at 1.5207 (R1). Break here might open route towards to our initial targets at 1.5231 (R2) and 1.5256 (R3). Downwards scenario: Opportunities for bearish oriented traders are seen below the important support level at 1.5182 (S1). Loss here would open door for the downtrend expansion towards to interim targets at 1.5161 (S2) and 1.5133 (S3).
Resistance Levels: 1.5207, 1.5231, 1.5256
Support Levels: 1.5182, 1.5161, 1.5133
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USDJPY :
HIGH 94.373 LOW 93.832 BID 93.943 ASK 93.950 CHANGE -0.28% TIME 08 : 02:11
https://support.fxcc.com/email/technical/01042013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: USDJPY maintained a negative near-term tone though recovery action is possible above the next visible resistance at 94.34 (R1). Clearance here might initiate bullish pressure and validate our next targets at 94.59 (R2) and 94.86 (R3). Downwards scenario: Any downside fluctuations remains for now limited to the key support barrier at 93.85 (S1). Only clear break here would be a signal of possible market easing towards to our next targets at 93.60 (S2) and potentially to 93.34 (S3).
Resistance Levels: 94.34, 94.59, 94.86
Support Levels: 93.85, 93.60, 93.34
Source: FX Central Clearing Ltd,( ECN Forex Trading Accounts | Currency Converter | Forex School | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Apr 02 2013
Spain will revised down its 2013 GDP forecast to -1.0%; Negotiating new deficit target
Spain is discussing with the European union a new 2013 budget deficit target around 6% of the GDP, the current target is 4.5%, according to a Reuters information citing Spanish officials sources. The Spanish government needs to renegotiate a new target as they would revise down the Kingdom of Spain 2013 GDP forecast to -1.0% from the -0.5% expected before.
Today's Asia-Pacific session has had a common denominator in the form of a falling USD across the board, and specially against Yen, that has seen a 1-month fresh high printing a low at 92.55 in the USD/JPY pair, something not seen since early March. Strangely enough, Gold has printed fresh session highs at $1604 at the same time. The other main driver of the season has come from Australia and the RBA holding rates at 3%, with scope to ease further if market conditions are met, the statement said. Local share markets traded in a mixed way with Tokyo leading the loses at some point down more than -2%, but last at -0.83%, with Shanghai -0.38%, and Kospi -0.44%, while Australian ASX is up +0.34%, and Hang-Seng +0.10%. As the London open gets closer, after a long 4-day weekend closed for holidays, the USD finds some bids, making EUR/USD, GBP/USD and AUD/USD to ease a bit, while USD/JPY recovers some ground. European futures markets show a mixed open ahead, with small advances and declines in main equity indexes.
https://support.fxcc.com/email/technical/02042013/
FOREX ECONOMIC CALENDAR :
2013-04-02 07:43 GMT | Italy. IT Markit Manufacturing PMI (Mar)
2013-04-02 08:28 GMT | UK. Markit Manufacturing PMI (Mar)
2013-04-02 12:00 GMT | Germany. DE Consumer Price Index (YoY) (Mar)
2013-04-02 14:00 GMT | USA. Factory Orders (MoM) (Feb)
FOREX NEWS :
2013-04-02 04:51 GMT | EUR/USD adjusts value within bearish context
2013-04-02 03:58 GMT | USD/JPY enters 92.40/75 demand after 92.95 break
2013-04-02 03:46 GMT | AUD/USD higher as RBA on holds
2013-04-02 03:40 GMT | RBA holds rates at 3%; statement more neutral
EURUSD :
HIGH 1.28775 LOW 1.28399 BID 1.28616 ASK 1.28621 CHANGE 0.1% TIME 08 : 01:01
https://support.fxcc.com/email/technical/02042013/EURUSD.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EURUSD gained momentum and determined medium-term positive bias. Next hurdle ahead is seen at 1.2878 (R1). Clearance here would suggest next intraday targets at 1.2892 (R2) and 1.2907 (R3) in potential. Downwards scenario: Any penetration below the support level at 1.2844 (S1) might create more scope for the instrument weakness in near-term perspective. We are looking to our immediate supports at 1.2830 (S2) and 1.2815 (S3) as next possible targets.
Resistance Levels: 1.2878, 1.2892, 1.2907
Support Levels: 1.2844, 1.2830, 1.2815
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GBPUSD :
HIGH 1.52584 LOW 1.52183 BID 1.52374 ASK 1.52384 CHANGE 0.04% TIME 08 : 01:02
https://support.fxcc.com/email/technical/02042013/GBPUSD.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Further uptrend evolvement is limited now to the local high at 1.5259 (R1). Break here is required to enable higher targets at 1.5269 (R2) and 1.5279 (R3). Downwards scenario: A downside pressure could be maintained if the price penetrates below the key supportive measure at 1.5225 (S1). Clearance here would open way for a price move towards to lower supports at 1.5214 (S2) and 1.5203 (S3).
Resistance Levels: 1.5259, 1.5269, 1.5279
Support Levels: 1.5225, 1.5214, 1.5203
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USDJPY :
HIGH 93.322 LOW 92.565 BID 92.840 ASK 92.845 CHANGE -0.42% TIME 08 : 01:03
https://support.fxcc.com/email/technical/02042013/USDJPY.gif
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Instrument showed excessive losses last few days and we expect some stabilization ahead. However appreciation above the next resistance at 93.03 (R1) might be a good catalyst for a recovery action towards to our next targets at 93.30 (R2) and 93.55 (R3). Downwards scenario: Fresh low at 92.56 (S1) offers a key supportive barrier on the way of downtrend development. A dip below it would suggest next intraday targets at 92.32 (S2) and potentially 92.08 (S3).
Resistance Levels: 93.03, 93.30, 93.55
Support Levels: 92.56, 92.32, 92.08
Source: FX Central Clearing Ltd,( Best ECN Trading Account | Forex Trading Education | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Apr 03 2013
Cyprus FinMin steps down after finalizing bailout deal
Cypriot finance minister Michael Sarris submitted his resignation on Tuesday, just after concluding bailout negotiations with Troika officials. Labor minister Haris Georgiadis has been nominated to the post shortly after. According to the Greek newspaper Kathimerini, other changes in the Cypriot government might follow today. It also suggests that Michael Sarris was replaced due to the Cyprus president Nicos Anastasiades’s dissatisfaction with the way he handled the crisis. As for the bailout deal, it was agreed that Cyprus would receive the first tranche of the aid in May. The fiscal adjustment period has been extended until 2018. The bailout loans will carry interest of 2.5% and repayment, spread over 12 years, is to begin in 10 years time. Michael Sarris also said that it was uncertain when the capital controls could be lifted completely.
Popular opinion in Brussels is that the worst outcome for the euro currency union would be if one of the member-states were forced out. On this pretext, the ECB has so far bailed out the banking systems of Portugal, Ireland, Greece, and Spain. When Cyprus faced a run on its banks two weeks ago, the eurocrats stepped in with a new proposal to shore up reserves: forfeiture of 9.9% on deposits over €100K and 6.7% below that level. This has come to be known as a "bail in." The reaction was immediate and intense. Cypriots took to the streets to protest the anticipated losses and breach of the government's deposit insurance guarantees for amounts under €100K; riot police were deployed. The Russian government was upset it was not consulted and that its citizens' deposits would face even steeper losses. The talking heads lamented the grave precedent that this move would set.
http://blog.fxcc.com/forex-technical-market-analysis-april-03-2013/
FOREX ECONOMIC CALENDAR
2013-04-03 08:30 GMT UK. PMI Construction (Mar)
2013-04-03 09:00 GMT EMU. Consumer Price Index (YoY) (Mar)
2013-04-03 13:15 GMT USA. US ADP Employment Change (Mar)
2013-04-03 14:00 GMT USA. ISM Non-Manufacturing PMI (Mar)
FOREX NEWS
2013-04-03 05:54 GMT EUR/USD regains 1.2800
2013-04-03 03:44 GMT Precious metals resume the selling off
2013-04-03 03:24 GMT GBP/JPY barely above 141.00 dragged on Pound weakness
2013-04-03 01:27 GMT GBP/USD breaks into 2-week low; no significant demand until 1.4950/1.50
Forex Technical Analysis EURUSD
http://blog.fxcc.com/wp-content/uploads/2013/04/110.gif
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: market sentiment is shifted to the negative side after the losses provided yesterday however market appreciation is possible above the next resistance at 1.2826 (R1). Loss here would suggest next intraday targets at 1.2844 (R2) and 1.2860 (R3). Downwards scenario: Fresh low at 1.2794 (S1) offers a key resistive measure on the downside. Break here is required to enable bearish pressure and validate next target at 1.2777 (S2). Final support for today locates at 1.2761 (S3).
Resistance Levels: 1.2826, 1.2844, 1.2860
Support Levels: 1.2794, 1.2777, 1.2761
Forex Technical Analysis GBPUSD
http://blog.fxcc.com/wp-content/uploads/2013/04/25.gif
Upwards scenario: GBPUSD broke all supportive means yesterday and determined clear negative bias on the medium-term timeframe. Possibility of market appreciation is seen above the resistance level at 1.5109 (R1). Break here is required to validate next targets at 1.5125 (R2) and 1.5141 (R3). Downwards scenario: Risk of the further downtrend formation is seen below the support at 1.5074 (S1). With penetration here opens a route towards to our immediate support level at 1.5059 (S2) and any further price cut would then be limited to final target at 1.5043 (S3).
Resistance Levels: 1.5109, 1.5125, 1.5141
Support Levels: 1.5074, 1.5059, 1.5043
Forex Technical Analysis USDJPY
http://blog.fxcc.com/wp-content/uploads/2013/04/32.gif
Upwards scenario: Price deviates from its initial downtrend formation on the hourly chart. Local high at 93.67 (R1) is a key technical point on the upside. Penetration above would suggest higher targets at 93.84 (R2) and 93.99 (R3). Downwards scenario: Our next support level is seen at 93.32 (S1). Any penetration below this level would increase likelihood of the downtrend development and suggest bearish priority in direction. Intraday support levels are placed at the 93.14 (S2) and 92.95 (S3) price levels.
Resistance Levels: 93.67, 93.84, 93.99
Support Levels: 93.32, 93.14, 92.95
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Apr 04 2013
IMF will lend 1 billion euros to Cyprus
The IMF announced on Wednesday that its contribution to the Cyprus bailout would amount to 1 billion euros. It has also presented the harsh conditions of the aid. These include increases in taxes: the corporate tax is to be raised from 10% to 12.5%, while the income tax from 15% to 30%. Additionally, Cyprus is required to introduce more austerity measures in order to reach a 4% GDP surplus target in 2018. "There will be protection for the most vulnerable groups. The social welfare system will be reviewed to streamline administration costs, minimize the overlap of existing programs, and improve their targeting to ensure that public resources reach those in need," IMF chief Christine Lagarde said on Wednesday. She also added that the funds should be approved by the IMF board at the beginning of next month.
The euro traded slightly higher against the U.S. dollar ahead of the European Central Bank's monetary policy announcement. The ECB is widely expected to leave interest rates unchanged but given the recent weakness in German economic data and problems in Cyprus, there's speculation that the ECB could lay the foundation for a rate cut. If that were the case, it would be signaled in Mario Draghi's post monetary policy meeting press conference. There are plenty of reasons for why the ECB may be warming to the idea of more stimulus but German stocks have recently climbed to 5 year highs and the EUR has fallen – two factors that help to support the region's economy. That may not be enough to wash away the ECB's concerns but it's a factor in this week's central bank meeting. Either way, we don't expect any optimism from the ECB and pessimism alone could sink the EUR if Draghi even hints that a rate cut is possible. The cracks are beginning to show in Germany and Cyprus could be the first of many weaker southern European nations such as Slovenia to seek emergency funding from the ECB. To preempt some of these difficulties, Draghi may want to ease. When the ECB plans to change monetary policy, they usually like to prepare the market for the move by dropping hints early. However if we are wrong and Draghi sounds calm and unconcerned about the recent deterioration in economic data and the problems in Cyprus and Italy, it would be just what the EUR/USD needs to stage a stronger recovery towards 1.30.
http://blog.fxcc.com/forex-technical-market-analysis-april-04-2013/
FOREX ECONOMIC CALENDAR
N/A Japan. BoJ Monetary Policy Statement and press conference
2013-04-04 11:00 GMT UK. BoE Interest Rate Decision
2013-04-04 11:45 GMT EMU. ECB Interest Rate Decision
2013-04-04 14:30 GMT USA. Fed's Bernanke Speech
FOREX NEWS
2013-04-04 04:50 GMT USD/JPY jumps above 93.5 as BoJ delivers
2013-04-04 04:33 GMT EUR awaits ECB frozen near 1.2850
2013-04-04 02:50 GMT Gold could fall sharply another $200 – RBS
2013-04-04 00:43 GMT AUD/USD higher on better data than expected
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Forex Technical Analysis EURUSD
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Upwards scenario: Market remains sideways oriented. Next hurdle on the upside might be found at 1.2853 (R1). Break here would open road towards to our interim aim at 1.2869 (R2) and enable final intraday resistive measure at 1.2883 (R3). Downwards scenario: On the other hand, break below the support at 1.2824 (S1) would open a route for a recovery phase. Further market decline would then be targeting next supportive measures at 1.2807 (S2) and 1.2790 (S3).
Resistance Levels: 1.2826, 1.2844, 1.2860
Support Levels: 1.2794, 1.2777, 1.2761
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Forex Technical Analysis GBPUSD
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Upwards scenario: Upside risk aversion is seen above the next resistance level at 1.5141 (R1). Appreciation above it would suggest us about the positive intraday bias formation towards to our next targets at 1.5158 (R2) and 1.5175 (R3). Downwards scenario: Instrument has comfortably declined during the Asian session and further downside extension is protected now by support level at 1.5098 (S1). Loss here is required to enable our initial targets at 1.5082 (S2) and 1.5065 (S3)
Resistance Levels: 1.5141, 1.5158, 1.5175
Support Levels: 1.5098, 1.5082, 1.5065
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Forex Technical Analysis USDJPY
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Upwards scenario: Current price setup might suggest volatility increase in near term perspective. If the price get acceleration on the upside and manages to surpass our next resistive mean at 94.37 (R1) next visible targets could be exposed at 94.55 (R2) and 94.72 (R3) later on today. Downwards scenario: The short oriented traders expected to be in play below the next support level at 93.87 (S1) to confirm downside evolvement. Clearance of this level I required to open way towards to our next targets at 93.68 (S2) and 93.49 (S3).
Resistance Levels: 94.37, 94.55, 94.72
Support Levels: 93.87, 93.68, 93.49
Source: FX Central Clearing Ltd,( Forex School | Currency Converter | Best Forex Trading Software | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Apr 05 2013
More Risk From Portugal
The euro area has had a rough few weeks: Cyprus agreed a bailout program that will decimate its economy, Italy’s Pier Luigi Bersani, the Democratic Party leader, failed to put together a government, borrowing costs for businesses in the peripheral countries continue to rise, unemployment reached record highs, and purchasing manager indices across the region greatly underperformed expectations. There may be one more piece of bad news to add to the pile before the week is out: Portugal’s budget for 2013 may fall apart, and with it the Portuguese government. During his New Year’s Day address, Portuguese President Anibal Cavaco Silva called on the constitutional court to rule whether the budget, which consists of tax increases and spending cuts worth 5.3 billion euros ($6.8 billion), is legal.
If the court rules against the budget, an estimated 2 billion euros of the austerity measures may be compromised. This would immediately derail Portugal’s progress toward hitting its fiscal targets, only weeks after the country’s international creditors relaxed them. Rejection of the budget could also cause the government to collapse if the ruling Social Democratic Party cannot find alternative austerity measures to get Portugal back on track with its bailout program. It is unclear exactly when the constitutional court will make its ruling, but it may be before the week is out. Concerns over what the court might say could account for an increase in Portuguese two-year bond yields to over 3.8 percent today, before falling back to around 3 percent again later in the day. This isn’t what a country looking to exit its bailout program and regain full market access needs. -FXstreet.com
https://support.fxcc.com/email/technical/05042013/
FOREX ECONOMIC CALENDAR :
2013-04-05 09:00 GMT | EMU. Gross Domestic Product s.a. (QoQ) (Q1)
2013-04-05 10:00 GMT | Germany. Factory Orders n.s.a. (YoY) (Feb)
2013-04-05 12:30 GMT | USA. Nonfarm Payrolls (Mar)
2013-04-05 12:30 GMT | Canada. Unemployment Rate (Mar)
FOREX NEWS :
2013-04-05 04:35 GMT | USD/JPY dives below 96.30 on massive taking profit
2013-04-05 04:19 GMT | EUR/USD negates market sentiment climbing above 1.29
2013-04-05 03:41 GMT | AUD/USD dips to 1.0400 lows
2013-04-05 02:09 GMT | EUR/JPY biggest single day rally on record above 125.30
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EURUSD :
HIGH 1.29379 LOW 1.29186 BID 1.29188 ASK 1.29196 CHANGE -0.12% TIME 08 : 49:51
https://support.fxcc.com/email/technical/05042013/EURUSD.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EURUSD trapped to the consolidation phase after the upside development. Yesterday high at 1.2950 (R1) offers a good resistance level. Break here is required to take the pair towards to initial targets at 1.2977 (R2) and 1.3003 (R3). Downwards scenario: Hourly chart technical indicators readings are positive though Immediate focus comes on the next support level at 1.2915 (S1). Any penetration below it would suggest next intraday targets at 1.2889 (S2) and 1.2860 (S3).
Resistance Levels: 1.2950, 1.2977, 1.3003
Support Levels: 1.2915, 1.2889, 1.2860
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GBPUSD :
HIGH 1.52428 LOW 1.5214 BID 1.52279 ASK 1.52290 CHANGE -0.03% TIME 08 : 49:52
https://support.fxcc.com/email/technical/05042013/GBPUSD.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: GBPUSD lost momentum after the gains provided yesterday. In terms of technical levels next resistance level could be exposed at 1.5259 (R1). Further appreciation above it would enable intraday targets at 1.5284 (R2) and 1.5309 (R3). Downwards scenario: Possible pull back formation might get acceleration below the support level at 1.5208 (S1). Loss here would suggest next intraday target at 1.5182 (S2) and any weakening below it would then be limited to final support at 1.5158 (S3).
Resistance Levels: 1.5259, 1.5284, 1.5309
Support Levels: 1.5208, 1.5182, 1.5158
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USDJPY :
HIGH 97.195 LOW 96.134 BID 96.314 ASK 96.321 CHANGE -0.01% TIME 08 : 49:52
https://support.fxcc.com/email/technical/05042013/USDJPY.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: We are not expecting significant volatility increase today however clearance of our next resistive barrier at 97.23 (R1) is required to push the price towards to our next visible targets at 97.63 (R2) and 98.04 (R3). Downwards scenario: Penetration below the support level at 95.94 (S1) might maintain a negative tone and prolong corrective action. Price devaluation would then be targeting our supportive measures at 95.54 (S2) and 95.08 (S3) in potential.
Resistance Levels: 97.23, 97.63, 98.04
Support Levels: 95.94, 95.54, 95.08
Source: FX Central Clearing Ltd,( Forex School | Currency Converter | Best Forex Trading Software | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Apr 08 2013
Portugal to slash spending after court ruling setback
Following the Portuguese constitutional court decision last Friday, in which certain austerity measures from the 2013 budget were rejected, Portugal's Prime Minister Pedro Passos Coelho said on Sunday the government will implement further cuts to compensate the unexpected budgetary setback, so that it can meet targets set by the Troika. Passos Coelho said in a televised address to the country that the court ruling was, cited by Reuters, "a serious obstacle for and risk" this year and next, but showed commitment to comply with the EU/IMF rescue program.
The Prime Minister ruled out an increase in taxes but one of the measures being explored was to cut on more spending, as mentioned above. The government is also seeking more flexible conditions from international lenders, so that they can successfully complete the bailout programme in 2014. According to Reuters: "Analysts expect Portugal to be able to agree replacement measures with the European Union and International Monetary Fund to make up for the court ruling, which could cost it between 900 million and 1.3 billion euros."
http://blog.fxcc.com/forex-technical-market-analysis-april-08-2013/
FOREX ECONOMIC CALENDAR
2013-04-08 10:00 GMT | Germany. Industrial Production s.a. w.d.a. (YoY)
2013-04-08 14:30 GMT | Canada. Bank of Canada Business Outlook Survey
2013-04-08 23:15 GMT | USA. US Fed's Bernanke Speech
2013-04-08 23:50 GMT | Japan. BoJ Monetary Policy Meeting Minutes
FOREX NEWS
2013-04-08 04:26 GMT | GBP/JPY moves above 151 first time in 3 years
2013-04-08 03:41 GMT | EUR/USD next upside target near 1.3115 – BBH
2013-04-08 03:22 GMT | USD/JPY to remain bid; 100.00/101.50 eyed – RBS
2013-04-08 02:47 GMT | AUD/USD to stay above parity for the remainder of 2013 – NAB
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Forex Technical Analysis EURUSD :
http://blog.fxcc.com/wp-content/uploads/2013/04/118.gif
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Upside formation is limited now to the next resistive barrier at 1.3040 (R1). Clearance here is required to provide a space for a move towards to next target at 1.3063 (R2) and then final aim would be 1.3087 (R3). Downwards scenario: Our key support level locates below the session low at 1.2972 (S1) mark. Break here is required to prolong bearish extension and validate our intraday targets at 1.2949 (S2) and 1.2926 (S3).
Resistance Levels: 1.3040, 1.3063, 1.3087
Support Levels: 1.2972, 1.2949, 1.2926
-----------------
Forex Technical Analysis GBPUSD :
http://blog.fxcc.com/wp-content/uploads/2013/04/210.gif
Upwards scenario: Measures of resistance might be activating when the pair approaches the 1.5363 (R1) mark. Break here would suggest next interim target at 1.5388 (R2) and If the price keeps its momentum we expect an exposure of 1.5413 (R3). Downwards scenario: Any downside extension is limited now to the next support level at 1.5301 (S1). Below here we see potential for the price acceleration towards to next initial targets at 1.5276 (S2) and 1.5251 (S3).
Resistance Levels: 1.5363, 1.5388, 1.5413
Support Levels: 1.5301, 1.5276, 1.5251
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Forex Technical Analysis USDJPY :
http://blog.fxcc.com/wp-content/uploads/2013/04/35.gif
Upwards scenario: We are not expecting significant volatility increase today however appreciation above the resistive structure at 98.85 (R1) might trigger bullish pressure and drive market price towards to next targets at 99.23 (R2) and 99.60 (R3). Downwards scenario: Possible bull back on the hourly chart might face next hurdle at 98.07 (S1). Break here is required to open road towards to our next retracement target at 97.66 (S2) en route to final aim at 97.25 (S3).
Resistance Levels: 98.85, 99.23, 99.60
Support Levels: 98.07, 97.66, 97.25
Source: FX Central Clearing Ltd,( Forex Blog | Currency Converter | Forex Trading Platform | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Apr 09 2013
German Fin Min urges Portugal to find new austerity measures
German Finance Minister Wolfgang Schaeuble said in a radio interview on Monday that Portugal should come up with a new set of austerity measures, after the country’s high court rejected parts of the plan put forward by the Portuguese government, deeming them illegal. “Portugal has made lots of progress in the last year to gain access to financial markets,” the German finance minister said. “But after this (constitutional court) decision it will have to find new measures.” Portuguese Prime Minister Pedro Passos Coelho has already announced plans of carrying out cuts in health and education spending, in order to meet the targets set by the Troika and avoid asking for a second rescue package. He assured however that no new tax hikes would be introduced in 2013.
https://support.fxcc.com/email/technical/09042013/
FOREX ECONOMIC CALENDAR :
2013-04-09 06:00 GMT | Germany. Trade Balance s.a. (Feb)
2013-04-09 08:30 GMT | UK. Manufacturing Production (YoY) (Feb)
2013-04-09 12:15 GMT | Canada. Housing Starts s.a (YoY) (Mar)
2013-04-09 14:00 GMT | UK. NIESR GDP Estimate (3M) (Mar)
FOREX NEWS :
2013-04-09 04:43 GMT | EUR/USD hits 3 ½ week high; fresh upside potential
2013-04-09 03:11 GMT | NZD/USD testing long term resistance below 0.85
2013-04-09 02:14 GMT | USD/CAD finds 1.0160 double bottom; upside risks - TDS
2013-04-09 01:48 GMT | AUD/USD higher on China CPI
-------------------------
EURUSD :
HIGH 1.30679 LOW 1.3009 BID 1.30454 ASK 1.30461 CHANGE 0.28% TIME 08 : 39:23
https://support.fxcc.com/email/technical/09042013/EURUSD.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Price stabilized near it local high’s however we see potential to overcome our next resistance level at 1.3069 (R1). Clearance here might pull the pair towards to eventual targets at 1.3095 (R2) and 1.3120 (R3). Downwards scenario: On the other side, price depreciation below the support barrier at 1.3037 (S1) might provide sufficient space for the recovery action. In such case e we would suggest next intraday targets at 1.3012 (R2) and then 1.2987 (R3)
Resistance Levels: 1.3069, 1.3095, 1.3120
Support Levels: 1.3037, 1.3012, 1.2987
------------------------
GBPUSD :
HIGH 1.52781 LOW 1.52508 BID 1.52717 ASK 1.52722 CHANGE 0.12% TIME 08 : 39:24
https://support.fxcc.com/email/technical/09042013/GBPUSD.gif
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Our technical outlook on the medium-term perspective remains positive. Further market appreciation is possible above the key resistance at 1.5293 (R1). Next targets could be found at 1.5318 (R2) and 1.5341 (R3). Downwards scenario: On the other hand, loss of our support level at 1.5237 (S1) would open road for a market decline towards to our next target at 1.5214 (S2). Any further price weakening would then be limited to final support for today at 1.5190 (S3).
Resistance Levels: 1.5293, 1.5318, 1.5341
Support Levels: 1.5237, 1.5214, 1.5190
---------------------
USDJPY :
HIGH 99.663 LOW 99.091 BID 99.207 ASK 99.213 CHANGE -0.15% TIME 08 : 39:24
https://support.fxcc.com/email/technical/09042013/USDJPY.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Upwards penetration is limited tow to the next resistance level at 99.65 (R1). Clearance here might open a route towards to our initial target at 100.12 (R2) and then further price appreciation would be targeting resistance at 100.57 (R3). Downwards scenario: On the other hand, our bearish expectations remain intact below the key support level at 98.86 (S1). Price penetration below it would allow further declines towards to our initial targets at 98.37 (S2) and 97.89 (S3).
Resistance Levels: 99.65, 100.12, 100.57
Support Levels: 98.86, 98.37, 97.89
Source: FX Central Clearing Ltd,( FX Central Clearing Ltd (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Apr 10 2013
Moody’s maintains a negative outlook on Spanish rating
Moody’s rating agency announced today that it maintains a negative outlook on Spain’s Baa3 credit rating. One of the main reasons for this decision was the agency’s conviction that the country will fail to reach the 4.5% deficit target fixed by the EU. In Moody’s opinion, Spain will only manage to bring down its deficit to 6% this year, failing thus to reach the 4.5% target required by Brussels. In the report, which was released in the European morning, the agency assures that the continuous deviations from the deficit objectives and the recurring revisions of the estimates carried out by the Spanish government undermine its credibility. Even though the agency acknowledges the country’s fiscal consolidation efforts and highlights the good results obtained in 2012, it also warns against the multiple threats to the Spanish economy.
https://support.fxcc.com/email/technical/10042013/
N/A | China. New Loans (Mar)
2013-04-10 17:00 GMT | USA. 10-Year Note Auction
2013-04-10 18:00 GMT | USA. US FOMC Minutes
2013-04-10 22:30 GMT | New Zeland. Business NZ PMI (Mar)
2013-04-10 04:29 GMT | EUR/USD, above 1.31 where true strength test begins
2013-04-10 03:31 GMT | NZD/JPY at 95 not outside the bounds of possibility - BNZ
2013-04-10 02:26 GMT | AUD/JPY pushes again above 104 highs post China trade deficit
2013-04-10 02:22 GMT | AUD/USD strengthens bullish case; 1.0516 new high post China trade
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EURUSD :
HIGH 1.30907 LOW 1.30731 BID 1.30754 ASK 1.30763 CHANGE -0.05% TIME 08:35:48
https://support.fxcc.com/email/technical/10042013/EURUSD.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: While price is quoted above the moving averages out technical outlook would be positive. Yesterday high offers next resistance level at 1.3103 (R1). Any price action above it would suggest next targets at 1.3128 (R2) and 1.3154 (S3). Downwards scenario: Penetration below the support at 1.3068 (S1) is liable to put more downward pressure on the instrument in the near-term perspective. As a result our supportive means at 1.3042 (S2) and 1.3015 (S3) might be triggered.
Resistance Levels: 1.3103, 1.3128, 1.3154
Support Levels: 1.3068, 1.3042, 1.3015
-------------------------
GBPUSD :
HIGH 1.53389 LOW 1.53125 BID 1.53201 ASK 1.53205 CHANGE 0.02% TIME 08:35:49
https://support.fxcc.com/email/technical/10042013/GBPUSD.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: On the upside potential is seen for a break above the resistance at 1.5341 (R1). In such case we would suggest next target at 1.5361 (R2) and any further rise would then be limited to final resistance at 1.5382 (R3). Downwards scenario: On the other hand, successful retest of our next support level at 1.5311 (S1) might provide sufficient momentum for the price acceleration towards to interim target at 1.5292 (S2). Final aim for today locates at 1.5271 (S3).
Resistance Levels: 1.5341, 1.5361, 1.5382
Support Levels: 1.5311, 1.5292, 1.5271
---------------------------
USDJPY :
HIGH 99.314 LOW 98.914 BID 99.129 ASK 99.135 CHANGE 0.11% TIME 08:35:50
https://support.fxcc.com/email/technical/10042013/USDJPY.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: We are not expecting busy session ahead however upwards extension above the resistance at 99.65 (R1) level would keep the bullish structure intact and validate our next intraday targets at 100.12 (R2) and 100.57 (R3). Downwards scenario: On the short-term perspective the pair might encounter supportive measures at 98.74 (S1). Loss here might change intraday technical structure and opens the way for a test of 98.32 (S2) and 97.89 (S3) later on today.
Resistance Levels: 99.65, 100.12, 100.57
Support Levels: 98.74, 98.32, 97.89
Source: FX Central Clearing Ltd,( Currency Trading Blog | Forex Account | Auto Forex Trading Account | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Apr 15 2013
Eurogroup releases statement on Cyprus
Eurozone finance ministers, who are holding talks in Dublin today, have released a statement on Cyprus in which they assure that the country has met all the requirements, allowing for the bailout deal to be completed. According to the document: The Eurogroup notes with satisfaction that the Cypriot authorities have implemented decisive bank resolution, restructuring and recapitalisation measures to address the fragile and unique situation of Cyprus' financial sector. The Eurogroup commends the authorities for their demonstrated resolve in implementing these important measures in a tight timeframe and reiterates its appreciation for the efforts made by the Cypriot citizens over the last weeks.” Eurozone finance ministers expect the bailout fund ESM board to give the green light to the proposal of granting Cyprus a 10 billion euro bailout on April 24. The first tranche of the aid could then be released by mid-may.
Following the release of the statement on the Cypriot bailout, Eurozone finance ministers, who hold talks today in Dublin, announced that the loan repayment for Ireland and Portugal would be extended. Eurogroup chief Jeroen Dijsselbloem confirmed that the Eurozone finance ministers agreed to give seven more years to Portugal and Ireland to repay their bailout loans amounting to 78 billion euros and 85 billion euros, respectively. He also informed that the maturity extension will most probably be approved at the upcoming Ecofin meeting, which kicks off later today. EU Commissioner Olli Rehn expressed hope that Ecofin would give the green light to the measure, which in his opinion is an important step on the road to exiting the rescue program.
http://blog.fxcc.com/13536/
FOREX ECONOMIC CALENDAR :
2013-04-15 09:00 GMT | EMU. Trade Balance s.a. (Feb)
2013-04-15 12:30 GMT | USA. NY Empire State Manufacturing Index (Apr)
2013-04-15 13:00 GMT | USA. Total Net TIC Flows (Feb)
2013-04-15 14:00 GMT | USA. NAHB Housing Market Index (Apr)
FOREX NEWS :
2013-04-15 04:34 GMT | Draghi testimony key in the week ahead for euro – UBS
2013-04-15 04:08 GMT | EUR/JPY, stops below 127.70 tripped
2013-04-15 03:45 GMT | USD/CAD catching a firm bid, trading up 43 pips at 1.0184
2013-04-15 03:08 GMT | NZD/USD again below 0.85
-----------------------------------------------------------------
Forex Technical Analysis EURUSD
http://blog.fxcc.com/wp-content/uploads/2013/04/126.gif
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Possibility of market strengthening is seen above the immediate resistive barrier at 1.3103 (R1). Price extension above it is required to validate our next intraday targets at 1.3128 (R2) and 1.3154 (R3) Downwards scenario: Further correction development is limited now to the session low – 1.3043 (S1). If the price manages to surpass it we would suggest next intraday targets at 1.3015 (S2) and 1.2988 (S3).
Resistance Levels: 1.3103, 1.3128, 1.3154
Support Levels: 1.3043, 1.3015, 1.2988
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Forex Technical Analysis GBPUSD
http://blog.fxcc.com/wp-content/uploads/2013/04/214.gif
Upwards scenario: Next resistance level is seen at 1.5355 (R1). Subsequently loss here might create upside momentum and drive market price towards to our initial targets at 1.5384 (R2) and 1.5415 (R3) in potential. Downwards scenario: An important technical level is seen at 1.5306 (S1). Market decline below this level might initiate bearish pressure and drive market price towards to our next targets at 1.5282 (S2) and 1.5257 (S3).
Resistance Levels: 1.5355, 1.5384, 1.5415
Support Levels: 1.5306, 1.5282, 1.5257
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Forex Technical Analysis USDJPY
http://blog.fxcc.com/wp-content/uploads/2013/04/38.gif
Upwards scenario: Next hurdle on the upside is seen at important technical level – 98.62 (R1). If the price manages to overcome it we expect further acceleration towards to our initial targets at 99.17 (R2) and 99.71 (R3). Downwards scenario: Price regress below the support level at 97.55 (S1) would increase likelihood of failing towards to our key supportive barrier at 97.08 (S2) and any further market decline would then be targeting final support for today at 96.57 (S3).
Resistance Levels: 98.62, 99.17, 99.71
Support Levels: 97.55, 97.08, 96.57
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Apr 16 2013
Portugal unveils new austerity measures to appease the Troika
Troika inspectors arrived in Lisbon on Monday in order to carry out the seventh review of the country’s bailout program, since it had received 78 billion euros of aid in 2011. Portugal had to come up with new austerity measures to meet the budget gap of about 1.3 billion euros, which emerged after the Portuguese Constitutional court ruled that four of the measures proposed by the PM Pedro Passos Coelho’s government were illegal.
Currently the 2 billion euro bailout tranche is blocked. If the Troika’s review has a positive conclusion, the money will be released and Portugal will also have a better chance of obtaining the 7 year loan repayment extension, approved on Friday by Ecofin. Passos Coelho said today that the additional 600 million euros would come from cuts in healthcare, education , social security and public services and another 600 million euros from reductions of administrative costs. These new austerity measures have been heavily criticized by the left-wing opposition and labor unions.
https://support.fxcc.com/email/technical/16042013/
FOREX ECONOMIC CALENDAR :
2013-04-16 09:00 GMT | Germany. ZEW Survey - Economic Sentiment (Apr)
2013-04-16 12:30 GMT | USA. Consumer Price Index (YoY) (Mar)
2013-04-16 13:00 GMT | EMU. ECB President Draghi's Speech
2013-04-16 22:45 GMT | New Zeland. Consumer Price Index (YoY)
FOREX NEWS :
2013-04-16 03:38 GMT | Kiwi retreats as macro risks weigh on sentiment
2013-04-16 03:32 GMT | EUR/USD holds above 1.3035
2013-04-16 02:13 GMT | Gold has peaked, beginnings of a new chapter - RBS
2013-04-16 01:57 GMT | EUR/AUD rockets higher as China Data spurs Aussie weakness
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EURUSD :
HIGH 1.30815 LOW 1.30305 BID 1.30747 ASK 1.30753 CHANGE 0.3% TIME 08 : 33:21
https://support.fxcc.com/email/technical/16042013/EURUSD.gif
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: A bullish tone dominates during the Asian session and further buying interest might arise above the next resistance at 1.3108 (R1). Clearance here would suggest next intraday target at 1.3143 (R2) and if the price holds its momentum we can expect an increase towards to 1.3179 (R3). Downwards scenario: Key support level lies at 1.3043 (S1). Penetration below it might change near-term tone to the negative side and expose our initial targets at 1.3008 (S2) and 1.2969 (S3) later on today.
Resistance Levels: 1.3108, 1.3143, 1.3179
Support Levels: 1.3043, 1.3008, 1.2969
-----------------------------
GBPUSD :
HIGH 1.53097 LOW 1.52729 BID 1.53043 ASK 1.53049 CHANGE 0.14% TIME 08 : 33:22
https://support.fxcc.com/email/technical/16042013/GBPUSD.gif
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Next hurdle that limit uptrend development lies above the fractal level at 1.5345 (R1). If the break occurs here, next attractive level could be exposed at 1.5374 (R2) and any further rise would then be limited to 1.5403 (R3). Downwards scenario: However our both moving averages are pointing down and if the price manages to break our key support level at 1.5271 (S1) we would expect further depreciation towards to our next targets, located at 1.5242 (S2) and 1.5212 (S3).
Resistance Levels: 1.5345, 1.5374, 1.5403
Support Levels: 1.5271, 1.5242, 1.5212
--------------------------
USDJPY :
HIGH 97.71 LOW 95.79 BID 97.438 ASK 97.439 CHANGE 0.69% TIME 08 : 33:23
https://support.fxcc.com/email/technical/16042013/USDJPY.gif
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Possibility of market strengthening is seen above the resistance level at 98.27 (R1). Clearance here is required to validate next interim target at 98.83 (R2) and any further rise would then be targeting mark at 99.39 (R3). Downwards scenario: Possible depreciation below the technically important support level at 97.08 (S1) would allow further market decline on the medium-term perspective. Possible targets lies at 96.53 (S2) and 95.99 (S3).
Resistance Levels: 98.27, 98.83, 99.39
Support Levels: 97.08, 96.53, 95.99
Source: FX Central Clearing Ltd,( Forex Traders Blog | Forex Trading Systems | Forex Account | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Apr 17 2013
IMF cuts global growth for fourth consecutive time, European recession likelihood 50%
International Monetary Fund (IMF) trimmed its global growth forecast and urged European policy makers to use “aggressive” monetary policy as a second year of contraction leaves the euro area’s recovery lagging behind the rest of the world. The global economy will continue to grow a further 3.3% this year, less than the 3.5% forecast in January, after 3.2% growth in 2012, the fund noted today, cutting its prediction for this year a fourth consecutive time. Moreover, the Washington-based IMF sees the 17-country euro area shrinking 0.3% , compared with a 0.2% retreat in January, with France joining Spain and Italy in the contraction. “The main challenge is still very much in Europe,” IMF Chief Economist Olivier Blanchard said. “Europe should do everything it can to strengthen private demand. What this means is aggressive monetary policy and what this means is getting the financial system to be stronger -- it’s still not in great shape.” As central banks in U.S. and Japan enact unorthodox policies such as asset purchases to rekindle and reinvigorate demand, pressure is mounting on the European Central Bank to do more. The IMF report describes a “three-speed” recovery led by emerging markets including China, with the U.S. forging ahead and Europe trailing after fighting a debt crisis that has forced bailouts of five countries in the region.
https://support.fxcc.com/email/technical/17042013/
FOREX ECONOMIC CALENDAR :
N/A | Germany. 10-y Bond Auctionctus
2013-04-17 08:30 GMT | UK. Bank of England Minutes
2013-04-17 14:00 GMT | Canada. BoC Interest Rate Decision
2013-04-17 18:00 GMT | USA. Fed's Beige Book
FOREX NEWS :
2013-04-17 04:36 GMT | EUR/USD edges lower after impressive close above 1.3155 pivot
2013-04-17 04:09 GMT | Medium-term bearish view on the Indian Rupee - Nomura
2013-04-17 03:34 GMT | AUD/USD rejected from 1.04 resistance
2013-04-17 03:32 GMT | EUR/AUD winning streak continues, more gains to follow?
EURUSD :
HIGH 1.31879 LOW 1.31699 BID 1.31740 ASK 1.31745 CHANGE -0.01% TIME 08 : 58:06
https://support.fxcc.com/email/technical/17042013/EURUSD.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: On the upside resistive structure at 1.3199 (R1) prevents further gains. Clearance here is required to open route towards to next target at 1.3225 (R2) and then final target could be triggered at 1.3251 (R3). Downwards scenario: Pair looks likely to test our supportive means today. Devaluation below the support at 1.3150 (S1) would initiate bearish pressure. On the way our next interim support at 1.3124 (S2) en route to final target at 1.3098 (S3).
Resistance Levels: 1.3199, 1.3225, 1.3251
Support Levels: 1.3150, 1.3124, 1.3098
-----------------------
GBPUSD :
HIGH 1.53722 LOW 1.53479 BID 1.53479 ASK 1.53488 CHANGE -0.09% TIME 08 : 58:07
https://support.fxcc.com/email/technical/17042013/GBPUSD.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Technically medium-term bias remains positive. Next resistive structure holds above the yesterday high at 1.5379 (R1). Break here would suggest marks at 1.5396 (R2) and 1.5411 (R3) as next visible targets. Downwards scenario: Downside expansion might face next hurdle at 1.5347 (S1). Break here is required to initiate stronger bearish pressure and validate our immediate targets at 1.5327 (S2) and 1.5307 (S3) in potential.
Resistance Levels: 1.5379, 1.5396, 1.5411
Support Levels: 1.5347, 1.5327, 1.5307
-------------------
USDJPY :
HIGH 98.432 LOW 97.514 BID 98.323 ASK 98.328 CHANGE 0.8% TIME 08 : 58:08
https://support.fxcc.com/email/technical/17042013/USDJPY.gif
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Any upside actions looks limited to resistance level at 98.58 (R1). Surpassing of this level might enable next target at 98.87 (R2) and any further gains would then be targeting final mark at 99.13 (R3) in potential. Downwards scenario: On the other hand, prolonged movement below the supportive measure at 98.08 (S1) might activate bearish pressure. Next aim for the downtrend expansion locates at 97.81 (S2) and then final target for today could be met at 97.52 (S3).
Resistance Levels: 98.58, 98.87, 99.13
Support Levels: 98.08, 97.81, 97.52
Source: FX Central Clearing Ltd,( Forex ECN Broker | Free Forex Demo Accounts | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Apr 18 2013
Weidmann opens the door to an ECB rate cut and foresees a lost decade in Europe
Jens Weidmann, the Bundesbank’s president, has affirmed that the European Central Bank could cut its interest rates if economic data continues worsening, according to an interview published by WSJ. Market has been speculating about the possibilities of the ECB cutting rates and now with inflation below the 2.0% it seems more than likely in May or June. However, Weidmann said the ECB “might adjust in response to new information," but he doesn’t “think that the monetary policy stance is the key issue."
"A point that I think is important to make, perhaps less for my central bank colleagues than for finance ministers,” Weidmann pointed, “is that the medication monetary policy makers administer only cures the symptoms and that it comes with side-effects and risks." In Weidmann's words, the important thing is the development of the reforms at the national and European level. The Bundesbank president also stated that the European recovery will take as much as a decade. The opinion is contrary to other European leaders who said that the worst of the crisis is over. "Overcoming the crisis and the crisis effects will remain a challenge over the next decade,” Weidmann affirmed.
https://support.fxcc.com/email/technical/18042013/
FOREX ECONOMIC CALENDAR :
24h | G20 Finance Ministers and Central Bank Governors Meeting
2013-04-18 08:30 GMT | UK. Retail Sales (YoY) (Mar)
2013-04-18 12:30 GMT | USA. Initial Jobless Claims (Apr 13)
2013-04-18 14:00 GMT | USA. Philadelphia Fed Manufacturing Survey (Apr)
FOREX NEWS :
2013-04-18 05:58 GMT | EUR/USD flat-lining around 1.3040/45
2013-04-18 03:58 GMT | BoC unlikely to hike rates until H2 2014 - Nomura
2013-04-18 03:17 GMT | Australia activity will soften into the June quarter – NAB
2013-04-18 01:59 GMT | China house prices continue to rise
EURUSD :
HIGH 1.3061 LOW 1.30207 BID 1.30491 ASK 1.30496 CHANGE 0.12% TIME 09 : 05:28
https://support.fxcc.com/email/technical/18042013/EURUSD.gif
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Price consolidates after the initial downtrend development yesterday. Price appreciation is possible above the next resistance level at 1.3061 (R1). Break here is required to enable intraday targets at 1.3081 (R2) and 1.3102 (R3). Downwards scenario: On the other hand, technically important supportive structure lies at 1.3001 (S1). If the price manages to overcome it, we would suggest next initial targets at 1.2979 (S2) and 1.2957 (S3) in perspective.
Resistance Levels: 1.3061, 1.3081, 1.3102
Support Levels: 1.3001, 1.2979, 1.2957
-------------------------
GBPUSD :
HIGH 1.52557 LOW 1.52328 BID 1.52532 ASK 1.52538 CHANGE 0.07% TIME 09 : 05:29
https://support.fxcc.com/email/technical/18042013/GBPUSD.gif
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: GBPUSD maintained a negative near-term tone though recovery action is possible above the next visible resistance at 1.5270 (R1). Clearance here might initiate bullish pressure and validate our next targets at 1.5287 (R2) and 1.5304 (R3). Downwards scenario: On the downside our focus is shifted to the next support level at 1.5216 (S1). Loss here is required to push the price towards to our next interim targets at 1.5199 (S2) en route towards to final support at 1.5182 (S3)
Resistance Levels: 1.5270, 1.5287, 1.5304
Support Levels: 1.5216, 1.5199, 1.5182
USDJPY :
HIGH 98.367 LOW 97.634 BID 98.064 ASK 98.069 CHANGE -0.05% TIME 09 : 05:30
https://support.fxcc.com/email/technical/18042013/USDJPY.gif
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Next visible fractal level locates at 98.44 (R1). Violation here is required to provide a signal of possible uptrend formation. In such case, resistances at 98.70 (R2) and 98.96 (R3) acts as next attractive points for the bullish oriented traders. Downwards scenario: Negative developments might be settled below the important support level at 97.81 (S1). Any price action below it would then be targeting support at 97.56 (S2) and final target could be exposed at 97.29 (S3) mark.
Resistance Levels: 98.44, 98.70, 98.96
Support Levels: 97.81, 97.56, 97.29
Source: FX Central Clearing Ltd,( FX Central Clearing Ltd (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Apr 22 2013
Japan escapes censure on the G-20 meeting
he G-20 communiqué provied little fresh headlines to market participants, with the main take away on FX-relate news being the permissive stance towards Japan's monetary policies to beat deflation. The G20 communiqué is basically echoing the same position by the G7 back in February. As noted by Eamonn Sheridan of Forexlive: "Leading into the G20 meeting market concern was that Japan would come under fire for its deflation-fighting policies (which have, as a side-effect, a weaker yen or are have as a central component the aim of a weaker yen, depending on your point of view). It became clear on Friday that Japan had escaped censure from the G20 over its policies, a position made officially clear at the conclusion of the meetings."
The section in the G20 communique that makes references to currencies, stated: "We reiterate our commitments to move more rapidly toward more market-determined exchange rate systems and exchange rate flexibility to reflect underlying fundamentals, and avoid persistent exchange rate misalignments. We will refrain from competitive devaluation and will not target our exchange rates for competitive purposes, and we will resist all forms of protectionism and keep our markets open." It added: "We reiterate that excess volatility of financial flows and disorderly movements in exchange rates have adverse implications for economic and financial stability. Monetary policy should be directed toward domestic price stability and continuing to support economic recovery according to the respective mandates of central banks. We will be mindful of unintended negative side effects stemming from extended periods of monetary easing."
http://blog.fxcc.com/forex-technical-market-analysis-april-22-2013/
FOREX ECONOMIC CALENDAR :
2013-04-22 08:00 GMT | Switzerland. Monthly Statistical Bulletin
2013-04-22 12:30 GMT | USA. Chicago Fed National Activity Index (Mar)
2013-04-22 14:00 GMT | EMU. Consumer Confidence (Apr)Preliminar
2013-04-22 14:00 GMT | USA. Existing Home Sales Change (MoM) (Mar)
FOREX ECONOMIC CALENDAR :
2013-04-22 04:41 GMT | USD/JPY marches towards 100.00, BOJ rate decision due out end of week
2013-04-22 04:01 GMT | USD and Yen ease post-G20; Napolitano reelected
2013-04-22 03:23 GMT | Prefer to keep selling GBP/USD – RBS
2013-04-22 02:52 GMT | EUR/USD drifting sideways as range bound behavior continues
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Forex Technical Analysis EURUSD :
http://blog.fxcc.com/wp-content/uploads/2013/04/133.gif
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Market remains sideways oriented. Next hurdle on the upside might be found at 1.3084 (R1). Break here would open road towards to our interim aim at 1.3097 (R2) and enable final intraday resistive measure at 1.3110 (R3). Downwards scenario: Failure to establish positive bias today might lead to the recovery action in near term perspective. Next immediate support locates at 1.3046 (S1). Break here is required to enable bearish pressure towards to our targets at 1.3033 (S2) and 1.3020 (S3).
Resistance Levels: 1.3084, 1.3097, 1.3110
Support Levels: 1.3046, 1.3033, 1.3020
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Forex Technical Analysis GBPUSD :
http://blog.fxcc.com/wp-content/uploads/2013/04/218.gif
Upwards scenario: Upside risk aversion is seen above the next resistance level at 1.5251 (R1). Appreciation above it might lead to the positive intraday bias formation towards to our next targets at 1.5269 (R2) and 1.5287 (R3). Downwards scenario: Negative tendency development might occur below the key support level at 1.5216 (S1). Break here would open road towards to next supportive measure at 1.5198 (S2) and then final supportive bastion could be found at 1.5180 (S3).
Resistance Levels: 1.5251, 1.5269, 1.5287
Support Levels: 1.5216, 1.5198, 1.5180
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Forex Technical Analysis USDJPY :
http://blog.fxcc.com/wp-content/uploads/2013/04/314.gif
Upwards scenario: Intraday market sentiment is shifted to the negative side after the losses provided during the Asian session, however market appreciation is possible above the next resistance at 99.89 (R1). Loss here would suggest next intraday targets at 100.19 (R2) and 100.49 (R3). Downwards scenario: Possibility of the price depreciation is seen below the next support level at 99.37 (S1). Break here could provide sufficient momentum and expose our next intraday targets at 99.05 (S2) and 98.75 (S3).
Resistance Levels: 99.89, 100.19, 100.49
Support Levels: 99.37, 99.05, 98.75
Source: FX Central Clearing Ltd,( Forex Trading System | Forex Trading Software | Best ECN Broker | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Apr 24 2013
Spain might get EU deficit target extension
The EU signalized on Tuesday that Spain might be granted two more years to reach the deficit target. Additionally, the President of the European Commission José Manuel Durão Barroso said yesterday that 2013 deficit targets for other EU countries could also be eased. EU sources suggested that the European Commission could allow Spain to have a budget deficit of 6.5% this year and that deadline for it to reach 3% could be extended by two more years. Barroso said that the correction of budgetary imbalances in Greece, Portugal and Spain has been very impressive and that the European Commission is considering extending the deadlines for the correction of excessive deficits also for other EU Member States, as the objective is to combine the adjustment of deficits and debt with growth in the short term.
Yesterday weak German PMI data release (47.9 actual vs. 49.1 estimates) fueled more talk of possible ECB rate cuts in the coming months. Although the EURUSD did close below the 1.3000 level, some analysts found the lack of follow through to the downside impressive and believe the key will be to see how it reacts to data in coming sessions. The main report due out today will be the German IFO which is released at 8:00 GMT. Economic data out of the UK is light in the coming session, with Mortgage Approvals due out at 8:30 GMT. The US session will also be fairly quiet with Durable Goods due out at 12:30 GMT.
https://support.fxcc.com/email/technical/24042013/
FOREX ECONOMIC CALENDAR :
2013-04-24 08:00 GMT | Germany. IFO - Business Climate
2013-04-24 08:30 GMT | UK. BBA Mortgage Approvals
2013-04-24 12:30 GMT | USA. Durable Goods Orders
2013-04-24 20:15 GMT | Canada. BoC Governor Mark Carney Speech
FOREX ECONOMIC CALENDAR :
2013-04-24 04:26 GMT | EUR/USD pressured by German PMI data, German IFO on tap next
2013-04-24 03:08 GMT | GBP/USD still forming possible “bear flag” on daily chart
2013-04-24 02:25 GMT | AUD/JPY still range bound after Aussie CPI data disappoints
2013-04-24 02:09 GMT | NZD/USD eases below 0.8450
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EURUSD :
HIGH 1.30104 LOW 1.29882 BID 1.30053 ASK 1.30059 CHANGE 0.03% TIME 08 : 44:38
https://support.fxcc.com/email/technical/24042013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Instrument gained momentum on the downside recently, turning short-term bias to the negative side. However upwards penetration above the resistance at 1.3012 (R1) would enable bullish forces and might drive market price towards to our initial targets at 1.3031 (R2) and 1.3051 (R3). Downwards scenario: Fresh low formed today offers an important supportive mark at 1.2987 (S1). Depreciation below it might shift medium-term tendency to the bearish side and validate our next intraday targets at 1.2970 (S2) and 1.2953 (S3).
Resistance Levels: 1.3012, 1.3031, 1.3051
Support Levels: 1.2987, 1.2970, 1.2953
----------------------------
GBPUSD :
HIGH 1.52502 LOW 1.52265 BID 1.52483 ASK 1.52491 CHANGE 0.08% TIME 08 : 44:38
https://support.fxcc.com/email/technical/24042013/GBPUSD.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Upside formation is limited now to the next resistive barrier at 1.5253 (R1). Clearance here is required to provide a space for a move towards to next target at 1.5267 (R2) and then final aim would be 1.5282 (R3). Downwards scenario: On the other side, any prolonged movement below the support at 1.5225 (S1) might enable downside forces and drive market price towards to supportive means at 1.5211 (S2) and 1.5197 (S3) later on today
Resistance Levels: 1.5253, 1.5267, 1.5282
Support Levels: 1.5225, 1.5211, 1.5197
----------------------------
USDJPY :
HIGH 99.761 LOW 99.193 BID 99.386 ASK 99.391 CHANGE -0.06% TIME 08 : 44:39
https://support.fxcc.com/email/technical/24042013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: USDJPY trapped to the consolidation phase after the upside development. Fresh high at 99.77 (R1) offers a good resistance level. Break here is required to take the pair towards to initial targets at 100.13 (R2) and 100.48 (R3). Downwards scenario: On the other hand, prolonged movement below the initial support level at 99.15 (S1) might trigger protective orders execution and drive market price towards to supportive means at 98.77 (S2) and 98.40 (S3).
Resistance Levels: 99.77, 100.13, 100.48
Support Levels: 99.15, 98.77, 98.40
Source: FX Central Clearing Ltd,( ECN Exchange Market FX Brokers | Forex Blog | Currency Converter | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Apr 24 2013
Enrico Letta named Italian PM
Italian President Giorgio Napolitano, who was reelected to the post last weekend, has given the mandate to form a government to center-left deputy leader Enrico Letta on Wednesday.After accepting the nomination the new Italian Prime Minister said that he would form "a government of service to the country." He stressed that politics in Italy should regain credibility in order to make head against the crisis. He said that the situation in Italy was very difficult at the moment and that the most urgent issues which should be addressed were unemployment, poverty and problems faced by small businesses. He suggested that the Eurozone should not press so much for austerity and rather focus on boosting growth in the area. 46 year old Enrico Letta is the second youngest Prime Minister in the history of Italian politics. He is the nephew of Gianni Letta, Silvio Berlusconi's close ally and despite his young age he has extensive government experience (he held various ministerial positions in the Italian government and served as a Member of the European Parliament for the North-East region) The cabinet formed by Letta will receive support mainly from Berlusconi's People of Freedom (PDL) party, Letta's Democratic Party (PD) and Mario Monti's centrist Civic Choice.
http://blog.fxcc.com/forex-technical-market-analysis-april-25-2013/
FOREX ECONOMIC CALENDAR :
2013-04-25 08:30 GMT | UK. Gross Domestic Product
2013-04-25 12:30 GMT | USA. US Initial Jobless Claims
2013-04-25 14:00 GMT | USA. Treasury Sec Lew Speech
2013-04-25 23:30 GMT | Japan. National Consumer Price Index
FOREX ECONOMIC CALENDAR :
2013-04-25 05:04 GMT | Window still open for the Yen to recover – JPMorgan
2013-04-25 04:31 GMT | EUR/USD – Will next week’s ECB Rate decision end the range bound behavior?
2013-04-25 03:28 GMT | GBP/USD buoyed by Verizon/Vodafone buzz
2013-04-25 02:25 GMT | AUD/USD drifting higher towards resistance at 1.0345
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Forex Technical Analysis EURUSD
http://blog.fxcc.com/wp-content/uploads/2013/04/136.gif
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Retracement action is reasonable scenario for EURUSD today. Our focus is shifted to the key resistive barrier at 1.3061 (R1). If the price manages to overcome it we would suggest next intraday targets at 1.3079 (R2) and 1.3096 (R3). Downwards scenario: Possible downside expansion would attack our support levels at 1.3017 (S2) and 1.3000 (S3). However prior reaching our targets, market should manage to overcome key resistive structure at 1.3034 (S1).
Resistance Levels: 1.3061, 1.3079, 1.3096
Support Levels: 1.3034, 1.3017, 1.3000
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Forex Technical Analysis GBPUSD
http://blog.fxcc.com/wp-content/uploads/2013/04/219.gif
Upwards scenario: The recent price acceleration on the upside suggests a possible move higher. Next on tap is resistive barrier at 1.5334 (R1) on the way towards to higher targets at 1.5347 (R2) and 1.5361 (R3). Downwards scenario: On the other hand, if the price failed to gain momentum on the upside we expect retest of our next support level at 1.5298 (S1). Clearance here is required to keep the downside extension intact and enable our lower targets at 1.5285 (S2) and 1.5270 (S3).
Resistance Levels: 1.5334, 1.5347, 1.5361
Support Levels: 1.5298, 1.5285, 1.5270
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Forex Technical Analysis USDJPY
http://blog.fxcc.com/wp-content/uploads/2013/04/315.gif
Upwards scenario: Measures of resistance might be activating when the pair approaches the 99.77 (R1) mark. Break here would suggest next interim target at 100.13 (R2) and If the price keeps its momentum we expect an exposure of 100.48 (R3). Downwards scenario: Signal of instrument depreciation would be created below the next support level at 99.15 (S1). In such case we would suggest next interim target at 98.77 (S2) and then our final aim at 98.40 (S3).
Resistance Levels: 99.77, 100.13, 100.48
Support Levels: 99.15, 98.77, 98.40
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Apr 29 2013
EUR/USD – The week we’ve all been waiting for? ECB and Fed meetings on tap
EUR/USD has started the week off on a strong note, benefiting from the headlines that Enrico Letta has been elected as the new Italian Prime Minister. At one point earlier in the session, the pair had traded as high as 1.3068, but is now back to consolidating near the opening print of 1.3050. According to analysts at FXStreet.com, “After two months of an irreconcilable political deadlock, Enrico Letta, 46, and member of the centre-left Democratic Party (PD), was sworn in as new Italian Prime Minister on Sunday. Letta, who has managed to pull together a 21-member Cabinet, while becoming the third youngest Prime Minister since World War II, nominated an unprecedented seven women to his Cabinet. Fabrizio Saccomanni was appointed finance minister, taking on the responsibility to overlook and bring forward much needed economic reforms to the economy.”
The main event later this week will be the upcoming ECB Monetary Policy meeting on May 2nd at 11:45 GMT. Analysts have been pointing to the weak economic data from Germany, and continued dovish comments from ECB officials as a good reason to expect an adjustment to current policy.
http://blog.fxcc.com/forex-technical-market-analysis-april-29-2013/
FOREX ECONOMIC CALENDAR :
2013-04-29 12:00 GMT DE. Consumer Price Index (YoY) (Apr)Preliminar
2013-04-29 12:00 GMT DE. Consumer Price Index (MoM) (Apr)Preliminar
2013-04-29 12:00 GMT DE. Harmonised Index of Consumer Prices (MoM) (Apr)Preliminar
2013-04-29 12:00 GMT DE. Harmonised Index of Consumer Prices (YoY) (Apr)Preliminar
FOREX NEWS :
2013-04-29 04:14 GMT EUR/USD – The week we’ve all been waiting for? ECB and Fed meetings on tap
2013-04-29 03:58 GMT AUD/USD to stay near 1.05 next few quarters
2013-04-29 03:04 GMT USD/JPY continues to trade lower, breaks through initial support of 97.55
2013-04-29 00:31 GMT GPB/USD adds to gains during Asia session
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Forex Technical Analysis EURUSD :
http://blog.fxcc.com/wp-content/uploads/2013/04/137.gif
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: We are not expecting significant volatility increase today however upside risk aversion is seen above the next resistance level at 1.3076 (R1). Price evaluation above this level would suggest next targets at 1.3094 (R2) and 1.3111 (R3). Downwards scenario: Price regress below the support level at 1.3037 (S1) would increase likelihood of failing towards to our key supportive barrier at 1.3026 (S2) and any further market decline would then be targeting final support for today at 1.3014 (S3).
Resistance Levels: 1.3076, 1.3094, 1.3111
Support Levels: 1.3037, 1.3026, 1.3014
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Forex Technical Analysis GBPUSD :
http://blog.fxcc.com/wp-content/uploads/2013/04/220.gif
Upwards scenario: On the upside potential is seen for a break above the resistance at 1.5525 (R1). In such case we would suggest next target at 1.5546 (R2) and any further rise would then be limited to final resistance at 1.5571 (R3). Downwards scenario: Further correction development is limited now to 1.5481 (S1). If the price manages to surpass it we would suggest next intraday targets at 1.5454 (S2) and 1.5426 (S3).
Resistance Levels: 1.5525, 1.5546, 1.5571
Support Levels: 1.5481, 1.5454, 1.5426
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Forex Technical Analysis USDJPY :
http://blog.fxcc.com/wp-content/uploads/2013/04/316.gif
Upwards scenario: Market comfortably moves in descending channel formation on the hourly chart. If pair gains momentum on the upside and overcome our next resistance at 97.97 (R1), we would suggest next resistances at 98.16 (R2) and 98.34 (R3) as intraday targets. Downwards scenario: On the other hand, successful retest of our next support level at 97.45 (S1) might provide sufficient momentum for the price acceleration towards to interim target at 97.27 (S2). Final aim for today locates at 97.08 (S3).
Resistance Levels: 97.97, 98.16, 98.34
Support Levels: 97.45, 97.27, 97.08
Source: FX Central Clearing Ltd,( Best ECN Forex Brokers | Forex ECN Broker Software | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC May 02 2013
Will the ECB Kill the EUR Rally?
The euro has performed extremely well leading up to Thursday's European Central Bank monetary policy announcement. In fact, it may be hard for some investors to believe that the majority of economists are looking for the ECB to cut interest rates by 25bp. Traditionally, expectations for easier monetary policy is negative for a currency but in the case of the euro, since the central bank started dropping hints about the potential for lower rates and economic data confirmed the need for more stimulus, the euro appreciated in value, rising to its highest level against the U.S. dollar in 2 months today.
The European Central Bank has done a great job of setting expectations for this month's monetary policy meeting. They are known for preparing the market for any upcoming changes in policy with the hopes of minimizing volatility when the actual change is made. Since the last meeting, we have heard consistently cautious comments from policymakers who all sound as if they are warming to idea of more stimulus if data warrants it and it certainly does given the widespread weakness in German business, consumer and investor confidence along with the decline in manufacturing and service activity. - https://support.fxcc.com/email/technical/02052013/
FOREX ECONOMIC CALENDAR :
2013-05-02 11:45 GMT | EU.ECB Interest Rate Decision (Apr 2)
2013-05-02 12:30 GMT | USA.Initial Jobless Claims (Apr 26)
2013-05-02 12:30 GMT | USA.Trade Balance (Mar)
2013-05-02 23:30 GMT | AUS.AiG Performance of Services Index (Apr)
FOREX NEWS :
2013-05-02 03:00 GMT | GBP/USD - Another day of gains, but unable to take out 1.5600 resistance
2013-05-02 02:23 GMT | AUD/USD continues to lose ground in Asia session
2013-05-02 00:43 GMT | EUR/USD forms a false break at 1.32
2013-05-02 00:08 GMT | USD/JPY slips to session lows post-BoJ minutes
EURUSD :
HIGH 1.31898 LOW 1.31662 BID 1.31709 ASK 1.31713 CHANGE -0.07% TIME 08 : 12:16
https://support.fxcc.com/email/technical/02052013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Next barrier on the upside lie at 1.3185 (R1). Surpassing of this level might enable our initial target at 1.3213 (R2) and any further gains would then be limited to last resistive structure at 1.3239 (R3). Downwards scenario: On the other hand, successful retest of our next support level at 1.3156 (S1) might provide sufficient momentum for the price acceleration towards the interim target at 1.3120 (S2). Final aim for today locates at 1.3084 (S3).
Resistance Levels: 1.3185, 1.3213, 1.3239
Support Levels: 1.3156, 1.3120, 1.3084
GBPUSD :
HIGH 1.55724 LOW 1.55409 BID 1.55475 ASK 1.55483 CHANGE -0.05% TIME 08 : 12:17
https://support.fxcc.com/email/technical/02052013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Possibility of market strengthening is seen above the immediate resistive barrier at 1.5573 (R1). Price extension above it is required to validate our next intraday targets at 1.5598 (R2) and 1.5629 (R3). Downwards scenario: If the price manages to overcome our next support barrier at 1.5527 (S1), we expect to see further market decline towards to our next target at 1.5507 (S2) and then next stop could be found at 1.5481 (S3) mark.
Resistance Levels: 1.5573, 1.5598, 1.5629
Support Levels: 1.5527, 1.5507, 1.5481
USDJPY :
HIGH 97.422 LOW 97.088 BID 97.191 ASK 97.195 CHANGE -0.21% TIME 08 : 12:18
https://support.fxcc.com/email/technical/02052013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: Pair has settled sideways formation on the hourly timeframe. However potential to move higher is seen above the resistance level at 97.42 (R1) mark. Loss here would suggest next intraday targets at 97.61 (R2) and 97.82 (R3). Downwards scenario: On the other hand, our next support level aligns at 97.11 (S1) and possible price regress below it might encounter downside rally. In such scenario we would suggest next intraday targets to be placed at 96.89 (S2) and 96.70 (S3).
Resistance Levels: 97.42, 97.61, 97.82
Support Levels: 97.11, 96.89, 96.70
Source: FX Central Clearing Ltd,( Forex ECN Broker | Forex Trading Blog | Forex Software | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC May 03 2013
Sustainability of Dollar Rally Hinges on Payrolls
With the European Central Bank's monetary policy announcement behind us, the focus of the forex market will now turn to the non-farm payrolls report. The newly delivered stimulus from the ECB and the better than expected U.S. jobless claims report boosted the attractiveness of the U.S. dollar against all major currencies. Whether or not the sell-off in the EUR/USD and rally in USD/JPY can be sustained will hinge on Friday's non-farm payrolls report. This week's FOMC statement tell us that that Federal Reserve officials aren't overly concerned about the health of the labor market as they completely ignored last month's sharp drop in payrolls, choosing instead to repeat that the labor market is improving.
They better be right or else the dollar and U.S. stocks for that matter will come crashing down. Currently economists are looking for payrolls to rise by 140K in April, up from 88K in March. The drop in jobless claims and consumer confidence supports a stronger release and we believe that as long as payrolls rise by 150K or more, the dollar will rally. By cutting interest rates today and signaling that they are prepared to do more, the ECB has set a low bar for tomorrow's NFP release.
https://support.fxcc.com/email/technical/03052013/
FOREX ECONOMIC CALENDAR :
2013-05-03 12:30 GMT | USA.Nonfarm Payrolls (Apr)
2013-05-03 12:30 GMT | USA.Average Hourly Earnings (MoM)/(YoY) (Apr)
2013-05-03 12:30 GMT | USA.Unemployment Rate (Apr)
2013-05-03 14:00 GMT | CAD.Factory Orders (MoM) (Mar)
FOREX NEWS :
2013-05-03 02:50 GMT | GBP/USD ends six day winning streak, fails again at 1.5600 resistance
2013-05-03 02:12 GMT | GBP/JPY closes higher but remains in consolidation on daily chart
2013-05-03 01:22 GMT | AUD/NZD pressing lower against 1.2050 level
2013-05-03 01:02 GMT | EUR/USD volatile day ends with sharply lower close
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EURUSD :
HIGH 1.30775 LOW 1.30555 BID 1.30710 ASK 1.30715 CHANGE 0.05% TIME 08 : 19:12
https://support.fxcc.com/email/technical/03052013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: On the upside potential is seen for a break above the resistance at 1.3084 (R1). In such case we would suggest next target at 1.3120 (R2) and any further rise would then be limited to final resistance at 1.3156 (R3). Downwards scenario: Further correction development is limited now to the session low - 1.3057 (S1). If the price manages to surpass it we would suggest next intraday targets at 1.3037 (S2) and 1.3016 (S3).
Resistance Levels: 1.3084, 1.3120, 1.3156
Support Levels: 1.3057, 1.3037, 1.3016
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GBPUSD :
HIGH 1.55408 LOW 1.552 BID 1.55240 ASK 1.55248 CHANGE -0.06% TIME 08 : 19:13
https://support.fxcc.com/email/technical/03052013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Possibility of market strengthening is seen above the resistance level at 1.5573 (R1). Clearance here is required to validate next interim target at 1.5598 (R2) and any further rise would then be targeting mark at 1.5629 (R3). Downwards scenario: We would shift our short-term technical outlook to the negative if the price manage to penetrate below the key support at 1.5522 (S1). Loss here would suggest next initial targets at 1.5489 (S2) and 1.5448 (S3).
Resistance Levels: 1.5573, 1.5598, 1.5629
Support Levels: 1.5522, 1.5489, 1.5448
-------------------------
USDJPY :
HIGH 98.052 LOW 97.881 BID 97.987 ASK 97.991 CHANGE 0.05% TIME 08 : 19:14
https://support.fxcc.com/email/technical/03052013/USDJPY.png
OUTLOOK SUMMARY :
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: Next actual resistance level is seen at 98.15 (R1). If the market manages to surge higher, our focus would returned to the next target at 98.51 (R2) and further recovery action could be exhausted at 98.85 (R3) intraday. Downwards scenario: Any downside extension is limited now to the next support level at 97.82 (S1). Break here is required to open a route towards to next target at 97.61 (S2) and then any further easing would be targeting final support at 97.42 (S3).
Resistance Levels: 98.15, 98.51, 98.85
Support Levels: 97.82, 97.61, 97.42
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC May 06 2013
EUR/USD still searching for direction after busy week of economic data
After what was an extremely busy week of economic releases and central bank monetary policy meetings, the EUR/USD finished the week up 87 pips at 1.3116. The price action remains extremely choppy with neither side being able to sustain any follow through for a substantial amount of time. Many analysts are now wondering whether or not the “risk on” mentality which was boosted by the better than expected US Jobs data will have any follow through going into upcoming week and how will it influence the foreign exchange market.
According to Kathy Lien of BK Asset Management, “Investors put on their rose colored glasses today and drove currencies and equities sharply higher on the back of stronger job growth in the month of April. At a time when other central banks like the ECB and BoJ are kick starting a new round of easing, the better than expected labor market report will keep the Fed comfortably on hold. The question now is whether the payroll driven rally in FX (and stocks) will last. With far less important data on the calendar next week, we think investors will remain optimistic.”
http://blog.fxcc.com/forex-technical-market-analysis-may-06-2013/
FOREX ECONOMIC CALENDAR :
2013-05-06 13:00 GMT | EU.ECB President Draghi's Speech
2013-05-06 14:00 GMT | CA.Ivey Purchasing Managers Index (Apr)
2013-05-06 14:00 GMT | CA.Ivey Purchasing Managers Index s.a (Apr)
2013-05-06 23:30 GMT | AUD.AiG Performance of Construction Index (Apr)
FOREX NEWS :
2013-05-06 04:09 GMT | EUR/USD still searching for direction after busy week of economic data
2013-05-06 03:18 GMT | GBP/JPY notches highest close since August 2009
2013-05-06 01:44 GMT | AUD/USD edges lower after weak Aussie retail sales number
2013-05-06 01:02 GMT | NZD/USD edges higher in early Asia trade
------------------
Forex Technical Analysis EURUSD :
http://blog.fxcc.com/wp-content/uploads/2013/05/1.png
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Possibility of market strengthening is seen above the resistance level at 1.3156 (R1). Clearance here is required to validate next interim target at 1.3185 (R2) and any further rise would then be targeting mark at 1.3219 (R3). Downwards scenario: On the other hand, instrument retests our next support level at 1.3117 (S1) today. Market decline below it would create a stronger bearish sentiment and enable our interim target at 1.3084 (S2). Final support for today locates at 1.3057 (S3).
Resistance Levels: 1.3156, 1.3185, 1.3219
Support Levels: 1.3117, 1.3084, 1.3057
----------------
Forex Technical Analysis GBPUSD :
http://blog.fxcc.com/wp-content/uploads/2013/05/2.png
Upwards scenario: On the upside potential is seen for a break above the resistance at 1.5525 (R1). In such case we would suggest next target at 1.5546 (R2) and any further rise would then be limited to final resistance at 1.5571 (R3). Downwards scenario: Further correction development is limited now to 1.5481 (S1). If the price manages to surpass it we would suggest next intraday targets at 1.5454 (S2) and 1.5426 (S3).
Resistance Levels: 1.5525, 1.5546, 1.5571
Support Levels: 1.5481, 1.5454, 1.5426
----------------
Forex Technical Analysis USDJPY :
http://blog.fxcc.com/wp-content/uploads/2013/05/3.png
Upwards scenario: Possibility of market strengthening is seen above the immediate resistive barrier at 92.02 (R1). Price extension above it is required to validate our next intraday targets at 98.16 (R2) and 98.30 (R3). Downwards scenario: Any downside extension is limited now to the next support level at 97.59 (S1). Break here is required to open a route towards to next target at 97.42 (S2) and then any further easing would be targeting final support at 97.27 (S3).
Resistance Levels: 98.02, 98.16, 98.30
Support Levels: 97.59, 97.42, 97.27
Source: FX Central Clearing Ltd,( Learn Forex Training | ECN Forex Account | forex trader blog | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC May 07 2013
EUR/USD still searching for direction after busy week of economic data
After what was an extremely busy week of economic releases and central bank monetary policy meetings, the EUR/USD finished the week up 87 pips at 1.3116. The price action remains extremely choppy with neither side being able to sustain any follow through for a substantial amount of time. Many analysts are now wondering whether or not the “risk on” mentality which was boosted by the better than expected US Jobs data will have any follow through going into upcoming week and how will it influence the foreign exchange market.
According to Kathy Lien of BK Asset Management, “Investors put on their rose colored glasses today and drove currencies and equities sharply higher on the back of stronger job growth in the month of April. At a time when other central banks like the ECB and BoJ are kick starting a new round of easing, the better than expected labor market report will keep the Fed comfortably on hold. The question now is whether the payroll driven rally in FX (and stocks) will last. With far less important data on the calendar next week, we think investors will remain optimistic.”
https://support.fxcc.com/email/technical/06052013/
FOREX ECONOMIC CALENDAR :
2013-05-06 13:00 GMT | EU.ECB President Draghi's Speech
2013-05-06 14:00 GMT | CA.Ivey Purchasing Managers Index (Apr)
2013-05-06 14:00 GMT | CA.Ivey Purchasing Managers Index s.a (Apr)
2013-05-06 23:30 GMT | AUD.AiG Performance of Construction Index (Apr)
FOREX NEWS :
2013-05-06 04:09 GMT | EUR/USD still searching for direction after busy week of economic data
2013-05-06 03:18 GMT | GBP/JPY notches highest close since August 2009
2013-05-06 01:44 GMT | AUD/USD edges lower after weak Aussie retail sales number
2013-05-06 01:02 GMT | NZD/USD edges higher in early Asia trade
-----------------------
EURUSD :
HIGH 1.31408 LOW 1.31084 BID 1.31214 ASK 1.31219 CHANGE 0.05% TIME 08 : 16:42
https://support.fxcc.com/email/technical/06052013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Possibility of market strengthening is seen above the resistance level at 1.3156 (R1). Clearance here is required to validate next interim target at 1.3185 (R2) and any further rise would then be targeting mark at 1.3219 (R3). Downwards scenario: On the other hand, instrument retests our next support level at 1.3117 (S1) today. Market decline below it would create a stronger bearish sentiment and enable our interim target at 1.3084 (S2). Final support for today locates at 1.3057 (S3).
Resistance Levels: 1.3156, 1.3185, 1.3219
Support Levels: 1.3117, 1.3084, 1.3057
-----------------------
GBPUSD :
HIGH 1.55981 LOW 1.55334 BID 1.55812 ASK 1.55823 CHANGE 0.07% TIME 08 : 16:42
https://support.fxcc.com/email/technical/06052013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: While price is quoted above the moving averages out technical outlook would be positive. Yesterday high offers next resistance level at 1.5598 (R1). Any price action above it would suggest next targets at 1.5629 (R2) and 1.5659 (S3). Downwards scenario: On the downside our attention is shifted to the immediate support level at 1.5573 (S1). Break here is required to enable bearish forces and expose our intraday targets at 1.5550 (S2) and 1.5522 (S3).
Resistance Levels: 1.5598, 1.5629, 1.5659
Support Levels: 1.5573, 1.5550, 1.5522
------------------
USDJPY :
HIGH 99.205 LOW 99.06 BID 99.095 ASK 99.099 CHANGE 0.1% TIME 08 : 16:43
https://support.fxcc.com/email/technical/06052013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low
Upwards scenario: Medium term bias remains positive however further market rise is limited now to the key resistive barrier at 99.27 (R1), clearance here is required to enable next resistances at 99.60 (R2) and last one at 99.88 (R3). Downwards scenario: On the short-term perspective the pair might encounter supportive measures at 98.97 (S1). Loss here might change intraday technical structure and opens the way for a test of 98.57 (S2) and 98.15 (S3) later on today.
Resistance Levels: 99.27, 99.60, 99.88
Support Levels: 98.97, 98.57, 98.15
Source: FX Central Clearing Ltd,( Best Forex Trader | Forex Broker Demo Account | Forex Software | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC May 08 2013
What Equity Rally Says About Currencies
Over the past week, all of the action has been in equities. U.S. stocks powered to new record highs while currencies consolidated quietly. The U.S. dollar weakened against the euro and Japanese Yen and strengthened against the British pound, Swiss Franc, Australian and New Zealand dollars. This divergent price action confirms that there isn't one directional interest in currencies. Part of the reason why currencies have not enjoyed the same type of strong trend as equities is because this is a QE driven rally and with central banks around the world engaged in new rounds of easing, the availability of more stimulus has been ambiguously positive for stocks. Unfortunately these simultaneous easing programs has also clouded the outlook for currencies as investors wonder which central bank will win the race to debase.
The rally in stocks and consolidation in currencies also tells us that investors are much more interested in joining the trend in equities than try to figure out whether support or resistance will be broken in currencies. Eventually this will change but for the time being we can't ignore the fact that the big moves are happening in other markets. However what stocks have done for currencies is keep them supported - if not for the equity market rally, we would have probably seen a deeper sell-off in the EUR/USD and AUD/USD.
https://support.fxcc.com/email/technical/08052013/
FOREX ECONOMIC CALENDAR :
2013-05-08 10:00 GMT | EU.Industrial Production s.a. w.d.a. (YoY) (Mar)
2013-05-08 12:15 GMT | CA.Housing Starts s.a (YoY) (Apr)
2013-05-08 17:00 GMT | US.10-Year Note Auction
2013-05-08 22:45 GMT | NZ.Unemployment Rate (Q1)
FOREX NEWS :
2013-05-08 04:35 GMT | EUR/USD unable to find direction as global equities continue higher
2013-05-08 03:32 GMT | GBP/USD rally runs out of steam, finishes day sharply lower
2013-05-08 02:37 GMT | Aussie attempting to claw back some losses during Asia trade
2013-05-08 00:24 GMT | USD/JPY edging lower during early Asia trade
EURUSD :
HIGH 1.30975 LOW 1.30716 BID 1.30926 ASK 1.30932 CHANGE 0.12% TIME 08 : 12:49
https://support.fxcc.com/email/technical/08052013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: While price is quoted above the moving averages out technical outlook would be positive. Yesterday high offers next resistance level at 1.3119 (R1). Any price action above it would suggest next targets at 1.3156 (R2) and 1.3185 (S3). Downwards scenario: Next support level is seen at 1.3072 (S1), any penetration below it might activate downside pressure and enable lower target at 1.3043 (S2). Any further market decline would then be limited to 1.3010 (S3).
Resistance Levels: 1.3119, 1.3156, 1.3185
Support Levels: 1.3072, 1.3043, 1.3010
--------------------------
GBPUSD :
HIGH 1.54891 LOW 1.54704 BID 1.54798 ASK 1.54805 CHANGE -0.02% TIME 08 : 12:50
https://support.fxcc.com/email/technical/08052013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: GBP extended its decline versus the USD and determined a negative short-term technical outlook. However above the resistance at 1.5488 (R1) opens a route towards to next resistive measures at 1.5503 (R2) and 1.5522 (R3). Downwards scenario: On the downside our attention is shifted to the immediate support level at 1.5474 (S1). Break here is required to enable bearish forces and expose our intraday targets at 1.5460 (S2) and 1.5449 (S3).
Resistance Levels: 1.5488, 1.5503, 1.5522
Support Levels: 1.5474, 1.5460, 1.5449
-------------------------
USDJPY :
HIGH 99.15 LOW 98.64 BID 98.965 ASK 98.969 CHANGE -0.03% TIME 08 : 12:51
https://support.fxcc.com/email/technical/08052013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low
Upwards scenario: Yesterday high offers key resistance level at 99.27 (R1). Clearance here is required to resume uptrend structure towards to next target at 99.43 (R2) and any further price appreciation would then be limited to last resistance for today at 99.63 (R3). Downwards scenario: On the other hand, price pattern suggests bearish potential if the instrument manages to overcome next support level at 98.78 (S1). Possible price regress could expose our initial targets at 98.62 (S2) and 98.40 (S3) in potential.
Resistance Levels: 99.27, 99.43, 99.63
Support Levels: 98.78, 98.62, 98.40
Source: FX Central Clearing Ltd,( FX Central Clearing Ltd (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC May 09 2013
EUR/USD notches a solid day of gains as ‘risk on’ mentality continues
In a day where risk assets were primarily well bid across the board, the Euro was able to notch some decent gains, finishing up 81 pips at 1.3159. The initial catalyst which seemed to help push the pair higher was the German Industrial Production (MoM) release which came in at 1.2% actual vs. -0.1% forecast. According to analysts at TD Securities, “In Europe, a solid German industrial production release has boosted the EUR. Not significantly though, as the very well established range that has held since early April remains firmly intact. EUR focus remains on the evolving ECB message, which as we heard last week remains open to another rate cut. They have not signaled any balance sheet expanding programs, however, which overall could leave the EUR well supported.”
The German data also seemed to give a boost to both commodities and equities, with oil notching its’ highest close since late March and the S&P 500 closing at a new all time high of 1632.59. The recent behavior of the EUR/USD is beyond confusing as it appears to follow risk assets some days and others have no correlation to outside markets at all. Although it must be noted, the EUR does continue to outperform the commodity currencies such as the AUD and NZD. http://blog.fxcc.com/forex-technical-market-analysis-may-09-2013/
FOREX ECONOMIC CALENDAR :
2013-05-09 11:00 GMT | UK.BoE Asset Purchase Facility
2013-05-09 11:00 GMT | UK.BoE Interest Rate Decision (May 9)
2013-05-09 12:30 GMT | US.Initial Jobless Claims (May 3)
2013-05-09 14:00 GMT | UK.NIESR GDP Estimate (3M) (Apr)
FOREX NEWS :
2013-05-09 03:11 GMT | GBP/USD continues to consolidate ahead BOE Rate Decision
2013-05-09 01:19 GMT | Aussie rockets higher after AUD jobs data crushes estimates
2013-05-09 01:19 GMT | EUR/JPY ready for the next leg up?
2013-05-08 23:42 GMT | AUD/JPY finishes slightly lower after narrow range day
------------------------
Forex Technical Analysis EURUSD :
MARKET ANALYSIS – Intraday Analysis
http://blog.fxcc.com/wp-content/uploads/2013/05/15.png
Upwards scenario: Instrument stabilized after the gains provided yesterday. Penetration above the resistive structure at 1.3185 (R1) might encourage protective orders execution and drive market price towards to the next resistive means at 1.3206 (R2) and 1.3226 (R3). Downwards scenario: On a slightly longer term we expect pullback formation. Risk of market depreciation is seen below the next support level at 1.3152 (S1). Clearance here would suggest lower targets at 1.3128 (S2) and 1.3105 (S3) in potential.
Resistance Levels: 1.3185, 1.3206, 1.3226
Support Levels: 1.3152, 1.3128, 1.3105
-------------------------
Forex Technical Analysis GBPUSD :
http://blog.fxcc.com/wp-content/uploads/2013/05/24.png
Upwards scenario: Pair has settled sideways formation on the hourly timeframe. However potential to move higher is seen above the resistance level at 1.5549 (R1) mark. Loss here would suggest next intraday targets at 1.5565 (R2) and 1.5581 (R3). Downwards scenario: Possible downside expansion would attack our support levels at 1.5517(S2) and 1.5498 (S3). However prior reaching our targets, market should manage to overcome the resistive structure at 1.5533 (S1).
Resistance Levels: 1.5549, 1.5565, 1.5581
Support Levels: 1.5533, 1.5517, 1.5498
-----------------------
Forex Technical Analysis USDJPY :
http://blog.fxcc.com/wp-content/uploads/2013/05/33.png
Upwards scenario: USD/JPY tested negative side the past days, however break above the resistance at 99.00 (R1) is liable to stimulate bullish pressure and validate next targets at 99.14 (R2) and 99.27 (R3). Downwards scenario: Loss of our support level at 96.68 (S1) would open road for a market decline towards to our next target at 98.57 (S2). Any further price weakening would then be limited to final support for today at 98.40 (S3).
Resistance Levels: 99.00, 99.14, 99.27
Support Levels: 98.68, 98.57, 98.40
Source: FX Central Clearing Ltd,( Forex Trading Blog | Learn Forex Training | Best Forex Accounts | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC May 10 2013
Will a busy economic schedule next week be the catalyst for EUR/USD?
The EUR/USD finished the day down 116 pips at 1.3044. Economic data was quiet for the most part but weekly jobless claims out of the US came in better than expected at 323k vs. 3.35k forecast. The US Dollar was well bid across the board, with the majority of action taking place in the USD/JPY which crossed the 100 threshold for the first time in four years. This seemed to help provide additional USD buying against other pairs, and also helped limit advances in commodities which were primarily lower for the day. Economic releases out of the Eurozone in the coming session include German Trade Balance, Italian Industrial Production, and EU Consumer Price Index.
After the better than expected jobs number past Friday, and another week of improvement in continued claims, some analysts view it as a sign the US Dollar could be set up for further gains in coming weeks. Furthermore, if we see continued gains in USD/JPY it could also be a tailwind and help the US Dollar remain well bid in other pairs. https://support.fxcc.com/email/technical/10052013/
FOREX ECONOMIC CALENDAR :
2013-05-10 12:30 GMT | US.Fed's Bernanke Speech
2013-05-10 12:30 GMT | CA.Unemployment Rate (Apr)
2013-05-10 12:30 GMT | CA.Net Change in Employment (Apr)
2013-05-10 12:30 GMT | CA.Participation rate (Apr)
FOREX NEWS :
2013-05-10 04:36 GMT | Kiwi edging lower in Asia trade
2013-05-10 01:59 GMT | USD/JPY, bulls officially staring at 101.00 from the rear mirror
2013-05-10 01:03 GMT | AUD/USD feeling the selling pressure ahead of RBA statement
2013-05-10 00:28 GMT | USD/JPY completes ‘pennant’ pattern on daily chart, further gains ahead?
----------------------
EURUSD
HIGH 1.30467 LOW 1.30214 BID 1.30451 ASK 1.30455 CHANGE 0.03% TIME 08 : 20:08
https://support.fxcc.com/email/technical/10052013/EURUSD.png
OUTLOOK SUMMARY Down
TREND CONDITION Downward penetration
TRADERS SENTIMENT Bullish
IMPLIED VOLATILITY Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Possibility of market strengthening is seen above the immediate resistive barrier at 1.3056 (R1). Price extension above it is required to validate our next intraday targets at 1.3079 (R2) and 1.3105 (R3). Downwards scenario: Any downside penetration is limited to the initial support level at 1.3010 (S1). A breach of which would open a route towards to next target at 1.2987 (S2) and potentially could expose our final support for today at 1.2965 (S3).
Resistance Levels: 1.3056, 1.3079, 1.3105
Support Levels: 1.3010, 1.2987, 1.2965
----------------------
GBPUSD
HIGH 1.54572 LOW 1.54377 BID 1.54487 ASK 1.54490 CHANGE 0.01% TIME 08 : 20:09
https://support.fxcc.com/email/technical/10052013/GBPUSD.png
OUTLOOK SUMMARY Down
TREND CONDITION Down trend
TRADERS SENTIMENT Bearish
IMPLIED VOLATILITY Medium
Upwards scenario: Market formed gradual descending move however price appreciation is possible above the next resistance level at 1.5460 (R1). Break here is required to enable next attractive points at 1.5487 (R2) and 1.5516 (R3). Downwards scenario: Penetration below the support at 1.5427 (S1) is liable to put more downward pressure on the instrument in the near-term perspective. As a result our supportive means at 1.5402 (S2) and 1.5380 (S3) might be triggered.
Resistance Levels: 1.5460, 1.5487, 1.5516
Support Levels: 1.5427, 1.5402, 1.5380
----------------------
USDJPY
HIGH 101.197 LOW 100.54 BID 100.937 ASK 100.942 CHANGE 0.32% TIME 08 : 20:10
https://support.fxcc.com/email/technical/10052013/USDJPY.png
OUTLOOK SUMMARY Up
TREND CONDITION Upward penetration
TRADERS SENTIMENT Bearish
IMPLIED VOLATILITY Medium
Upwards scenario: USD/JPY continue its consolidation phase on the hourly chart. Possibility of uptrend evolvement is seen above the next resistance at 101.11 (R1). Violation here might increase bullish pressure and validate next intraday targets at 101.47 (R2) and 101.83 (R3). Downwards scenario: Further correction development is limited now to the session low - 100.56 (S1). If the price manages to surpass it we would suggest next intraday targets at 100.18 (S2) and 99.75 (S3).
Resistance Levels: 101.11, 101.47, 101.83
Support Levels: 100.56, 100.18, 99.75
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC May 13 2013
Japan rests re-assured not labeled 'currency manipulator' by G7
Over the weekend, the G7 re-assured the market that Japan is not deliberately weakening the yen in order to create a competitive advantage against other industrialized nations. The group repeated its old same lines about its commitment to avoid artificial currency devaluation for domestic gain purposes, while re-iterating its commitment to avoid volatility in FX rates. According to Mike Paterson, editor at Forexlive: "The general consensus seems to be they accept Japan’s arguments that their dramatic easing on monetary policy is aimed at combating deflation rather than weaker currency advantage." Mr. Paterson thinks the last developments in the G7 meeting "should be the green light for further yen selling when markets re-open given that it takes the uncertainty out of the equation but the announcement was hardly a surprise" he said.
It will be interesting to see just how much weaker it gets in the early stages. Failure to drop too far will suggest that there rightly should be an air of caution after such rapid falls. But as the say goes, all that glitters is not gold, and US, Canada and Germany were all suspiciously more notorious on voicing out a closer monitoring over Japan's next policy actions. As Mr. Paterson rightly points out, "behind the scenes of G7, sure there is not such a united front as they wish to portray." U.S. Treasury Secretary Jack Lew had something to say on yen weakness: “We’ll keep an eye on that”, suggesting that any signs of currency manipulation by Japan will be watch very closely, adding that Japan had “growth issues.” Japan's Finance Minister Mr. Aso confirmed to media reporters that no criticism was noted on Japan’s monetary easing. https://support.fxcc.com/email/technical/13052013/
FOREX ECONOMIC CALENDAR :
24h | EMU. Eurogroup meeting
2013-05-13 12:30 GMT | USA. Retail Sales
2013-05-13 14:00 GMT | USA. Business Inventories (Mar)
2013-05-13 22:45 GMT | New Zeland. Retail Sales
FOREX NEWS :
2013-05-13 04:32 GMT | EUR/USD uncomfortable below 1.30, further definition needed
2013-05-13 04:21 GMT | USD extends gains; Gold takes a hit
2013-05-13 03:34 GMT | Gold selling off sharply below $1430
2013-05-13 03:24 GMT | USD/JPY, expect little pullback in the high 101s - RBS
EURUSD :
HIGH 1.29781 LOW 1.29595 BID 1.29756 ASK 1.29758 CHANGE -0.12% TIME 08 : 04:42
https://support.fxcc.com/email/technical/13052013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT :Bullish
IMPLIED VOLATILITY :Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Neutral hourly studies point towards further consolidation, with a break of next resistive structure at 1.3011 (R1) is required to spark stronger upside action. In such scenario we would suggest our next initial targets at 1.3036 (R2) and 1.3062 (R3). Downwards scenario: Medium-term bias is clearly negative. Possible progress below the initial support level at 1.2957 (S1) might expose our intraday targets at 1.2934 (S2) and then 1.2909 (S3).
Resistance Levels: 1.3011, 1.3036, 1.3062
Support Levels: 1.2957, 1.2934, 1.2909
------------------------
GBPUSD :
HIGH 1.53578 LOW 1.53357 BID 1.53519 ASK 1.53529 CHANGE -0.07% TIME 08 : 04:42
https://support.fxcc.com/email/technical/13052013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT :Bullish
IMPLIED VOLATILITY :Low
Upwards scenario: GBPUSD is consolidating today however we see potential for further appreciation towards to our targets at 1.5403 (R2) and 1.5429 (R3) if the price manages to overcome key resistance measure at 1.5377 (R1). Downwards scenario: Next support level is seen at 1.5334 (S1), any penetration below it might activate further downside pressure and enable lower target at 1.5310 (S2). Any further market decline would then be limited to final support at 1.5284 (S3).
Resistance Levels: 1.5377, 1.5403, 1.5429
Support Levels: 1.5334, 1.5310, 1.5284
------------------
USDJPY :
HIGH 102.151 LOW 101.74 BID 101.751 ASK 101.752 CHANGE 0.14% TIME 08 : 04:43
https://support.fxcc.com/email/technical/13052013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT :Bearish
IMPLIED VOLATILITY :Low
Upwards scenario: Further uptrend development is possible above the next resistance level at 102.18 (R1). Break here would open route towards to higher target at 102.65 (R2) and any further price advance would then be limited to 103.12 (R3). Downwards scenario: On the other hand, a break of the support at 101.44 (S1) is required to determine negative intraday bias and enable lower target at 101.01 (S2). Clearance of this target would open a path towards to final support for today at 100.57 (S3).
Resistance Levels: 102.18, 102.65, 103.12
Support Levels: 101.44, 101.01, 100.57
Source: FX Central Clearing Ltd,( ECN Broker | Forex Practice Account | Forex Trading Blog | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC May 14 2013
Schäuble suggests revising EU treaties to make way for banking union
German finance minister Wolfgang Schäuble told the Financial Times today that the banking union could not be completed without a modification of EU treaties. The process of changing them however could last several months or even years. According to Schäuble the existing treaties “do not suffice” to allow for forming a strong central resolution authority. Therefore he warned against making promises which the EU cannot keep, as they would directly affect its credibility.
“The EU does not have coercive means to enforce decisions” Schäuble said. “What it has are responsibilities and powers defined by its treaties.” A change to the treaties would provide a better separation of the ECB's monetary and supervisory functions. The German finance minister is conscious that such changes might take a long time, so he proposed a two-step process consisting of a resolution mechanism based on a network of national authorities as well as a network of resolution funds. Even though Schäuble acknowledges that such a structure would not be trons enough in the long term, he believes that it would allow to buy time and create the base for reaching the final objective: a European banking union, which encompasses the entire interior market. https://support.fxcc.com/email/technical/14052013/
FOREX ECONOMIC CALENDAR :
24h | EMU. EcoFin Meeting
2013-05-14 06:00 GMT | Germany. Consumer Price Index
2013-05-14 09:00 GMT | Germany. ZEW Survey - Economic Sentiment
2013-05-14 09:30 GMT | Australia. Budget Release
FOREX NEWS :
2013-05-14 04:28 GMT | Look to get long EUR/JPY into support levels
2013-05-14 03:58 GMT | EUR/USD still range bound ahead of busy economic calendar week
2013-05-14 03:46 GMT | AUD/USD, outlook is bearish but be patient - RBS
2013-05-14 03:11 GMT | GBP/USD completes ‘bear flag’ pattern on daily chart
EURUSD :
HIGH 1.30261 LOW 1.29693 BID 1.30029 ASK 1.30033 CHANGE 0.21% TIME 08 : 33:12
https://support.fxcc.com/email/technical/14052013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Possibility of uptrend penetration is seen above the next resistance level at 1.3026 (R1). Clearance here might enable bullish pressure and let the price to achieve our intraday targets at 1.3044 (R2) and 1.3062 (R3). Downwards scenario: On the short-term perspective the pair might encounter supportive measures at 1.2992 (S1). Loss here might change intraday technical structure and opens the way for a test of 1.2971 (S2) and 1.2951 (S3) later on today.
Resistance Levels: 1.3026, 1.3044, 1.3062
Support Levels: 1.2992, 1.2971, 1.2951
--------------------
GBPUSD :
HIGH 1.5331 LOW 1.52939 BID 1.53144 ASK 1.53152 CHANGE 0.1% TIME 08 : 33:12
https://support.fxcc.com/email/technical/14052013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Possibility of market strengthening is seen above the immediate resistive barrier at 1.5334 (R1). Price extension above it is required to validate our next intraday targets at 1.5358 (R2) and 1.5383 (R3) Downwards scenario: On the other hand if the price manages to overcome our next support barrier at 1.5296 (S1), we expect to see further market decline towards to our target at 1.5272 (S2) and then next stop could be found at 1.5249 (S3) mark.
Resistance Levels: 1.5334, 1.5358, 1.5383
Support Levels: 1.5296, 1.5272, 1.5249
-------------------------
USDJPY :
HIGH 101.849 LOW 101.365 BID 101.439 ASK 101.441 CHANGE -0.37% TIME 08 : 33:13
https://support.fxcc.com/email/technical/14052013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Medium term bias remains positive however further market rise is limited now to the key resistive barrier at 101.78 (R1), clearance here is required to enable next resistances at 102.22 (R2) and last one at 102.67 (R3). Downwards scenario: Measures of support might be activating when the pair approaches the 101.21 (S1). If it continues to extend its weakening below it we expect next targets to be exposed at 100.77 (S2) and 100.35 (S3) later on.
Resistance Levels: 101.78, 102.22, 102.67
Support Levels: 101.21, 100.77, 100.35
Source: FX Central Clearing Ltd,( ECN Forex Software | The Best Forex Broker | Forex Account | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC May 15 2013
EU gives the go-ahead to Spanish bank restructuring plan
The European Commission announced on Wednesday its approval of the plans to restructure Spain's four nationalized banks: Bankia, Nova Caixa Galicia, Catalunya Caixa and Banco de Valencia. Vice President of the European Commission responsible for Competition Policy Joaquín Almunia said in the European morning that the injection of 37 billion euros of the bank rescue would require a 60% reduction in the size of the nationalized financial institutions by 2017.
Joaquín Almunia informed that during the negotiations with Spanish authorities and the banks in question it was established that the recapitalization funds would be distributed as follows: 18 billion euros for Bankia, 9 billion for Catalunya Caixa, 5.5 billion for Nova Caixa Galicia and 4.5 billion for Banco de Valencia. The four nationalized financial institutions should abandon conceding loans for high risk activities and should transfer 45 billion euros of toxic assets to the newly created bad bank. Catalunya Caixa and Nova Caixa Galicia are expected to be sold before 2017.
http://blog.fxcc.com/forex-technical-market-analysis-may-15-2013/
FOREX ECONOMIC CALENDAR :
2012-11-29 08:55 GMT | Germany. Unemployment Change (Nov)
2012-11-29 10:30 GMT | United Kingdom. BoE's Governor King Speech
2012-11-29 13:30 GMT | United States. Gross Domestic Product Annualized (Q3)
2012-11-29 15:00 GMT | United States. Pending Home Sales (MoM) (Oct)
FOREX NEWS :
2012-11-29 06:12 GMT | EUR/GBP flat below 0.8100, 50% Fibo
2012-11-29 05:36 GMT | GBP/USD trying to push higher, eyeing 1.6020
2012-11-29 05:25 GMT | NZD/USD higher on US 'fiscal cliff' optimism
2012-11-29 04:09 GMT | EUD/USD bullish while above 1.2885 – Scotiabank
--------------------
Forex Technical Analysis EURUSD :
http://blog.fxcc.com/wp-content/uploads/2013/05/16.png
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Next on tap, resistance level at 1.2962 (R1). A break higher could open the door for an attack to next target at 1.2980 (R2) and final immediate resistance is seen at 1.2996 (R3). Downwards scenario: Further retracement formation on the medium-term might occur below the support level at 1.2939 (S1), break here is required to put focus on actual targets at 1.2921 (S2) and 1.2903 (S3).
Resistance Levels: 1.2962, 1.2980, 1.2996
Support Levels: 1.2939, 1.2921, 1.2903
------------------
Forex Technical Analysis GBPUSD :
http://blog.fxcc.com/wp-content/uploads/2013/05/25.png
Upwards scenario: Upside risk aversion is seen above the resistance at 1.6021 (R1). Any violation of that level would be considered as signal of possible uptrend formation towards to our targets at 1.6031 (R2) and 1.6042 (R3).Downwards scenario: Though, our medium-term outlook is bearish. A break through support level at 1.6005 (S1) is possible en route towards to our intraday targets at 1.5994 (S2) and 1.5983 (S3).
Resistance Levels: 1.6021, 1.6031, 1.6042
Support Levels: 1.6005, 1.5994, 1.5983
-------------------
Forex Technical Analysis USDJPY :
http://blog.fxcc.com/wp-content/uploads/2013/05/34.png
Upwards scenario: The pair might face key resistive bastion at 82.22 (R1). A break above it might activate upside pressure and suggest the short-term targets at 82.30 (R2) and 82.39 (R3). Downwards scenario: On a slightly longer term focus has returned to the support at 82.00 (S1). If the market manages to overcome it, next hurdle lies at 81.91 (S2) and 81.82 (S3).
Resistance Levels: 82.22, 82.30, 82.39
Support Levels: 82.00, 81.91, 81.82
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC May 16 2013
BoE sees a modest and sustained recovery over the next three years
The quarterly Inflation Report released by the Bank of England on Wednesday suggests that UK inflation should rise above 3% in June and that it will possibly remain above the 2% target for the next two years. As for the GDP, it is “likely to pick up gradually over the next year or so, supported by past asset purchases, an easing in credit conditions aided by the Funding for Lending Scheme, and a continuing improvement in the global environment.”
The BoE MPC expects GDP growth of 0.3% in the first quarter of 2013. In the current quarter they see quarterly GDP expanding by 0.5%, while year-on-year GDP is projected to grow by 2.2% (compared with the previous forecast of 2%). Nevertheless, the MPC recognizes that the recovery is still “weak and uneven.” The report states that in the light of the growth and inflation forecasts more stimulus might be required. No rate hike should be carried out before 2016 however. Following the release of the report, BoE Governor Mervyn King presented it at a press conference. He pointed out that there are many obstacles on UK's road to recovery, the most important being the Eurozone crisis and rising unemployment. He stressed that UK policymakers should continue their efforts to boost the recovery as “this is no time to be complacent.” http://blog.fxcc.com/forex-technical-market-analysis-may-16-2013/
FOREX ECONOMIC CALENDAR :
2013-05-15 09:00 GMT | EMU. Consumer Price Index
2013-05-15 12:30 GMT | USA. Consumer Price Index
2013-05-15 14:00 GMT | USA. Philadelphia Fed Manufacturing Survey
2013-05-15 19:05 GMT | USA. FOMC Member Williams speech
FOREX NEWS :
2013-05-15 19:24 GMT | EUR/USD seen at 1.2600 in 3 months – UBS
2013-05-15 18:55 GMT | GBP/JPY is unable to break above 156.00
2013-05-15 18:41 GMT | USD/CHF retests daily lows
2013-05-15 18:19 GMT | AUD/USD's recovery capped at 0.9920, back to 0.9870
--------------------
Forex Technical Analysis EURUSD :
MARKET ANALYSIS – Intraday Analysis
http://blog.fxcc.com/wp-content/uploads/2013/05/18.png
Upwards scenario: Next on tap, resistance level at 1.2962 (R1). A break higher could open the door for an attack to next target at 1.2980 (R2) and final immediate resistance is seen at 1.2996 (R3). Downwards scenario: Further retracement formation on the medium-term might occur below the support level at 1.2939 (S1), break here is required to put focus on actual targets at 1.2921 (S2) and 1.2903 (S3).
Resistance Levels: 1.2962, 1.2980, 1.2996
Support Levels: 1.2939, 1.2921, 1.2903
---------------------
Forex Technical Analysis GBPUSD :
http://blog.fxcc.com/wp-content/uploads/2013/05/26.png
Upwards scenario: Upside risk aversion is seen above the resistance at 1.6021 (R1). Any violation of that level would be considered as signal of possible uptrend formation towards to our targets at 1.6031 (R2) and 1.6042 (R3).Downwards scenario: Though, our medium-term outlook is bearish. A break through support level at 1.6005 (S1) is possible en route towards to our intraday targets at 1.5994 (S2) and 1.5983 (S3).
Resistance Levels: 1.6021, 1.6031, 1.6042
Support Levels: 1.6005, 1.5994, 1.5983
--------------------------
Forex Technical Analysis USDJPY :
http://blog.fxcc.com/wp-content/uploads/2013/05/35.png
Upwards scenario: The pair might face key resistive bastion at 82.22 (R1). A break above it might activate upside pressure and suggest the short-term targets at 82.30 (R2) and 82.39 (R3). Downwards scenario: On a slightly longer term focus has returned to the support at 82.00 (S1). If the market manages to overcome it, next hurdle lies at 81.91 (S2) and 81.82 (S3).
Resistance Levels: 82.22, 82.30, 82.39
Support Levels: 82.00, 81.91, 81.82
Source: FX Central Clearing Ltd,( ECN Broker Account | Currency Converter | Forex Blog | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC May 17 2013
Talking Down the EUR
The euro came under selling pressure today against the U.S. dollar after European Industry Commissioner Tajani tried to talk down the currency. As the head of an agency whose goal is to protect the export sector, Tajani complained that the euro is too strong and called on the central bank to manage the currency in a way that would help exports. Considering that the euro has been in a downtrend since the beginning of the month and has lost over 5% since the beginning of February, some investors may be surprised by the timing of Tajani's comments. However it is clear that underperformance of the Eurozone economy, which is currently in recession is a big motivation for industry officials, politicians and central bankers to make overtures to weaken the euro now versus February. In addition, with the currency in a downtrend, comments such as these will have a greater impact on the euro. As the ECB considers whether to introduce negative deposit rates or purchases of asset backed securities, a weaker currency will provide additional support to the region's economy.
https://support.fxcc.com/email/technical/17052013/
FOREX ECONOMIC CALENDAR :
2013-05-17 09:00 GMT | EMU. Construction Output w.d.a (YoY) (Mar)
2013-05-17 12:30 GMT | Canada. Consumer Price Index (YoY) (Apr)
2013-05-17 13:55 GMT | USA. Reuters/Michigan Consumer Sentiment Index (May)
2013-05-17 15:00 GMT | USA. CB Leading Indicator (MoM) (Apr)
FOREX NEWS :
2013-05-17 04:58 GMT | Nomura's survey on USDJPY suggest higher quotes
2013-05-17 04:26 GMT | Technical picture continues to become more bearish for EUR/USD
2013-05-17 03:57 GMT | AUD/USD, how far can it go? 0.9750/10 next demand
2013-05-17 02:40 GMT | USD/CHF inching toward hourly resistance trend line at 0.9675
EURUSD :
HIGH 1.28897 LOW 1.2855 BID 1.28676 ASK 1.28680 CHANGE -0.1% TIME 08 : 26:30
https://support.fxcc.com/email/technical/17052013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: 20 SMA acts as next resistance level at 1.2886 (R1). Penetration above that mark might trigger upside pressure and expose our next resistive mean at 1.2911 (R2) en route towards to final target for today at 1.2937 (R3). Downwards scenario: On the other hand, successful retest of our next support level at 1.2843 (S1) Market would create a signal of bearish sentiment and enable our interim target at 1.2819 (S2). Final support for today locates at 1.2794 (S3).
Resistance Levels: 1.2886, 1.2911, 1.2937
Support Levels: 1.2843, 1.2819, 1.2794
-----------------------
GBPUSD :
HIGH 1.52822 LOW 1.52366 BID 1.52521 ASK 1.52533 CHANGE -0.1% TIME 08 : 26:30
https://support.fxcc.com/email/technical/17052013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: A bearish tone dominates during the Asian session however further buying interest might arise above the resistance at 1.5281 (R1). Clearance here would suggest next intraday target at 1.5315 (R2) and if the price holds its momentum we can expect an increase towards to 1.5351 (R3). Downwards scenario: If the price failed to establish further positive bias today, likely we will see retest of our key support level at 1.5228 (S1). Break here is required to enable initial lower targets at 1.5194 (S2) and 1.5163 (S3) in potential.
Resistance Levels: 1.5281, 1.5315, 1.5351
Support Levels: 1.5228, 1.5194, 1.5163
--------------------------
USDJPY :
HIGH 102.371 LOW 102.08 BID 102.291 ASK 102.295 CHANGE 0.04% TIME 08 : 26:31
https://support.fxcc.com/email/technical/17052013/USDJPY.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Neutral channel formation remains in play on the hourly chart. Our next resistance level is placed at 102.47 (R1). Strengthening above it would point to resistive structure at 102.81 (R2) onto 103.14 (R3). Downwards scenario: Possible downtrend evolvement might occur below the immediate support level at 102.05 (S1). Clearance here is required to enable our next targets at 101.70 (S2) and 101.36 (S3) in potential.
Resistance Levels: 102.47, 102.81, 103.14
Support Levels: 102.05, 101.70, 101.36
Source: FX Central Clearing Ltd,( ECN Broker List | Forex Trading Account | Currency Converter | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC May 20 2013
Bearish developments on EUR/USD charts continue to take shape
It was a rough week for the EUR/USD, as continued speculation of the Fed tapering QE purchases and worries of economic growth in Europe continued to put pressure on the pair throughout the week. When all was said and done, the pair finished the week down 0.90% to close at 1.2838. Market participants will be focusing on a number reports this week including testimony from Fed Chairman Bernanke, as well as speeches by some regional Fed officials. According to Greg Gibbs, FX Trading Strategist at RBS,“the market will be looking closely at the Fed commentary this week. Bernanke's testimony to Congress on Wednesday is the main focal point, but there are important speeches by doves Evans and Dudley before then. As key supporters of maintaining the current $85bn pace of asset purchases, any shift in their tone will be seen as evidence that the consensus and Bernanke's views have shifted.”
He went on to add, “the commentary by Fed Watcher Hilsenrath just over a week ago and by a Fed dove Williams on Thursday last week has got the market thinking about potential for QE tapering in the summer, which puts into play the 19 June, 31 July or 18 September meetings. The June meeting includes a Bernanke press conference and staff projects, as does the September meeting.”
http://blog.fxcc.com/forex-technical-market-analysis-may-20-2013/
FOREX ECONOMIC CALENDAR
2013-05-20 12:30 GMT | US.Chicago Fed National Activity Index (Apr)
2013-05-20 17:00 GMT | US.Fed's Evans Speech
2013-05-20 19:00 GMT | AR.Unemployment Rate (QoQ) (Q1)
2013-05-20 21:45 GMT | NZ.Visitor Arrivals (YoY) (Apr)
FOREX NEWS
2013-05-20 02:45 GMT | Sterling bulls continue to defend the 1.5150 level
2013-05-20 02:32 GMT | AUD/USD higher above 0.9750 on USD weakness
2013-05-20 00:27 GMT | EUR/JPY buyers step in again at 131.00, support remains firm
2013-05-19 23:11 GMT | EUR/USD capped below 1.2850
----------------------
Forex Technical Analysis EURUSD :
MARKET ANALYSIS – Intraday Analysis
http://blog.fxcc.com/wp-content/uploads/2013/05/19.png
Upwards scenario: Bullish market sentiment is slightly improved yesterday however further appreciation needs to clear barrier at 1.2855 (R1) to enable our interim target at 1.2882 (R2) and then any further gains would be limited to last resistance at 1.2908 (R3). Downwards scenario: If the price manages to overcome our next support barrier at 1.2818 (S1), we expect to see further market decline towards to our next target at 1.2800 (S2) and then next stop could be found at 1.2780 (S3) mark.
Resistance Levels: 1.2855, 1.2882, 1.2908
Support Levels: 1.2818, 1.2800, 1.2780
-------------------------------
Forex Technical Analysis GBPUSD :
http://blog.fxcc.com/wp-content/uploads/2013/05/27.png
Upwards scenario: Next immediate resistive barrier is seen at 1.5209 (R1). If instrument gains momentum on the upside and manage to overcome it we would focus on the intraday targets at 1.5241 (R2) and 1.5276 (R3) in potential. Downwards scenario: Any downside extension is limited now to the next support level at 1.5163 (S1). Break here is required to open a route towards to next target at 1.5141 (S2) and then any further easing would be targeting final support at 1.5117 (S3).
Resistance Levels: 1.5209, 1.5241, 1.5276
Support Levels: 1.5163, 1.5141, 1.5117
------------------------
Forex Technical Analysis USDJPY :
http://blog.fxcc.com/wp-content/uploads/2013/05/36.png
Upwards scenario: Possible upwards formation is limited now to resistive measure at 102.87 (R1). A break above it would suggest next intraday target at 103.29 (R2) and if the price holds its momentum we can expect price increase towards to final resistance at 103.75 (R3). Downwards scenario: Pair looks likely to test our supportive means today. Devaluation below the support at 102.62 (S1) would initiate bearish pressure. On the way our next interim support at 102.39 (S2) en route to final target at 102.07 (S3).
Resistance Levels: 102.87, 103.29, 103.75
Support Levels: 102.62, 102.39, 102.07
Source: FX Central Clearing Ltd,( FX Central Clearing Ltd (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC May 21 2013
Fed-Speak to dominate EUR/USD trading in coming days
The EUR/USD was able to claw back a small portion of its losses suffered last week, finishing the day up 64 pips at 1.2884. Economic news was light on the session with European markets closed and no releases out of the US. Market participants will be expecting volatility to really pick up later in the week when we see Fed Chairman Bernanke’s testimony to Congress, the release of the most recent FOMC minutes, and a number of other regional Fed speakers on the wires. Given the recent market buzz of the prospects of Fed tapering QE, the next few days could help set a more established trend for the pair as we near month end.
According to Marc Chandler, Head Currency Strategist at BBH, “in the US, the FOMC minutes from the April 30/May 1 meeting will be released on Wednesday. Markets will be parsing them very thoroughly for any clues about QE tapering. Those minutes will be sandwiched between another heavy slate of Fed speakers including Bullard and Dudley on Tuesday, Bernanke testimony on Wednesday, and Bullard again on Thursday. Bernanke’s testimony will be the most important, of course. While we expect the key Fed officials to signal steady as she goes with regards to QE, we acknowledge that markets could see some turbulence.” Other analysts also mention to keep a focus on Europe, as we will see a number of important PMI releases from the region later in the week as well as speeches from important European officials including ECB President Draghi.
http://blog.fxcc.com/forex-technical-market-analysis-may-21-2013/
FOREX ECONOMIC CALENDAR :
2013-05-21 06:00 GMT | Germany. Producer Price Index (YoY) (Apr)
2013-05-21 08:30 GMT | UK. Consumer Price Index (YoY) (Apr)
2013-05-21 14:00 GMT | USA. Treasury Sec Lew Speech
2013-05-21 23:50 GMT | Japan. Merchandise Trade Balance Total (Apr)
FOREX NEWS :
2013-05-21 04:36 GMT | Fed-Speak to dominate EUR/USD trading in coming days
2013-05-21 04:26 GMT | USD/JPY, break through 103.5 allows 105/105.50 – JPMorgan
2013-05-21 03:19 GMT | EUR/JPY continues to eye upper end of range near 133.00
2013-05-21 01:48 GMT | AUD/USD consolidates below 0.9800 after RBA minutes release
---------------------
Forex Technical Analysis EURUSD :
MARKET ANALYSIS – Intraday Analysis
http://blog.fxcc.com/wp-content/uploads/2013/05/112.png
Upwards scenario: On the upside market might get more incentives above the immediate resistive barrier at 1.2905 (R1). If the price manages to overcome it we would suggest next intraday targets at 1.2930 (R2) and 1.2955 (R3). Downwards scenario: On the other hand, possible downtrend development may encounter supportive measure at 1.2860 (S1). Penetration through this level would targeting then supportive means at 1.2836 (S2) and 1.2811 (S3) later on today.
Resistance Levels: 1.2905, 1.2930, 1.2955
Support Levels: 1.2860, 1.2836, 1.2811
----------------------------
Forex Technical Analysis GBPUSD :
http://blog.fxcc.com/wp-content/uploads/2013/05/28.png
Upwards scenario: While both moving averages are pointing down, medium-term technical outlook would be positive. Key resistance level lie at 1.5281 (R1), above here opens a route towards to our initial targets at 1.5308 (R2) and 1.5336 (R3). Downwards scenario: Local low at 1.5221 (S1) offers next immediate support barrier. Successful penetration below it would open path towards to next intraday targets at 1.5194 (S2) and 1.5165 (S3).
Resistance Levels: 1.5281, 1.5308, 1.5336
Support Levels: 1.5221, 1.5194, 1.5165
---------------------------
Forex Technical Analysis USDJPY :
http://blog.fxcc.com/wp-content/uploads/2013/05/37.png
Upwards scenario: On the upside resistive structure at 102.77 (R1) prevents further gains. Clearance here is required to open route towards to next target at 103.10 (R2) and then final target could be triggered at 103.43 (R3). Downwards scenario: On the other hand, pair keeps the consolidation pattern intact. We see potential to positively retest supportive barrier at 102.19 (S1). Depreciation below it would open route towards to initial targets at 101.86 (S2) and 101.52 (S3) in potential.
Resistance Levels: 102.77, 103.10, 103.43
Support Levels: 102.19, 101.86, 101.52
Source: FX Central Clearing Ltd,( ECN FX Broker Platform | Forex Account | Currency Converter | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC May 22 2013
Bernanke testimony, FOMC minutes, & European data to heighten EUR/USD volatility
The EUR/USD finished the day moderately higher, closing up 25 pips at 1.2905 ahead of what is sure to be a volatile session with Fed Chairman Bernanke set to testify in front of congress at 14:00GMT. Furthermore, we will also see the release of the most recent FOMC minutes at 18:00GMT. According to Sean callow of Westpac,“The US calendar is dominated by Fed chairman Bernanke’s testimony on “The Economic Outlook” to the Joint Economic Committee of Congress (10am NY time). He will deliver a prepared text then take numerous questions from both friendly and hostile lawmakers. Volatility over the course of his appearance seems assured, as markets try to quickly decide whether Bernanke is trying to dampen talk of reducing QE some time soon, is affirming such a view or remaining non-committal. USD should gain in the latter two scenarios but we still expect the first outcome – Bernanke arguing that it is too soon to be confident that the economy is recovering sustainably.”
Other analysts are pointing towards European economic data as the additional catalysts for the EUR/USD which may help to break the recent range bound activity. Market participants should be aware that later in the week will see a number of European PMI figured which could also heighten volatility. http://blog.fxcc.com/forex-technical-market-analysis-may-22-2013/
FOREX ECONOMIC CALENDAR :
2013-05-22 12:30 GMT | Canada.Retail Sales (MoM) (Mar)
2013-05-22 14:00 GMT | USA.Existing Home Sales (MoM) (Apr)
2013-05-22 14:00 GMT | USA.Fed's Bernanke testifies
2013-05-22 18:00 GMT | USA.FOMC Minutes
FOREX NEWS :
2013-05-22 03:26 GMT | USD/JPY steady near 102.50 after BoJ Monetary Policy release
2013-05-22 02:43 GMT | AUD/USD still around 0.98 despite worsening consumer confidence in | Australia
2013-05-22 02:41 GMT | GBP/JPY – Will buyers have enough force to take out 156.80 resistance?
2013-05-22 00:22 GMT | EUR/USD working its way higher thru 1.2920/40 supply
-----------------------
Forex Technical Analysis EURUSD :
MARKET ANALYSIS – Intraday Analysis
http://blog.fxcc.com/wp-content/uploads/2013/05/114.png
Upwards scenario: Instrument stabilized after the gains provided yesterday. Penetration above the resistive structure at 1.2926 (R1) might encourage protective orders execution and drive market price towards to the next resistive means at 1.2940 (R2) and 1.2955 (R3). Downwards scenario: Measures of support might be activating when the pair approaches the 1.2905 (S1). If it continues to extend its weakening below it we expect next targets to be exposed at 1.2889 (S2) and 1.2877 (S3) later on.
Resistance Levels: 1.2926, 1.2940, 1.2955
Support Levels: 1.2905, 1.2889, 1.2877
----------------------
Forex Technical Analysis GBPUSD :
http://blog.fxcc.com/wp-content/uploads/2013/05/29.png
Upwards scenario: Next actual resistance level is seen at 1.5160 (R1). If the market manages to surge higher, our focus would returned to the next target at 1.5179 (R2) and further recovery action could be exhausted at 1.5197 (R3) intraday. Downwards scenario: Price regress below the support level at 1.5128 (S1) would increase likelihood of failing towards to our key supportive barrier at 1.5110 (S2) and any further market decline would then be targeting final support for today at 1.5092 (S3).
Resistance Levels: 1.5160, 1.5179, 1.5197
Support Levels: 1.5128, 1.5110, 1.5092
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Forex Technical Analysis USDJPY :
http://blog.fxcc.com/wp-content/uploads/2013/05/38.png
Upwards scenario: Any upside actions looks limited to resistance level at 102.64 (R1). Surpassing of this level might enable next target at 102.73 (R2) and any further gains would then be targeting final mark at 102.86 (R3) in potential. Downwards scenario: Our next support level at 102.44 (S1) limits possible recovery attempts for now. Break here is required to establish negative market sentiment and enable lower target at 102.35 (S2) en route to final target at 102.25 (S3).
Resistance Levels: 102.64, 102.73, 102.86
Support Levels: 102.44, 102.35, 102.25
Source: FX Central Clearing Ltd,( Forex Training | Currency Converter | ECN Forex Trading Accounts | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC May 23 2013
FOMC minutes show members open to tapering QE
The minutes from the April 30 and May 1 FOMC meeting showed that "a number" of officials expressed willingness to taper the bond buying program as early as the June meeting "if the economic information received by that time showed evidence of sufficiently strong and sustained growth". However, according to the minutes, views differed about what evidence would be necessary and the likelihood of that outcome. One Fed official wanted to stop the bond purchases immediately, while another wanted to increase the size of the program. Despite the discrepancies, most members emphasized importance of being prepared to adjust purchases either up or down.
The minutes also revealed the Fed started a review of their exit strategy principles last released to the public in 2011. The broad principles appeared generally still valid, but the bank will probably need greater flexibility regarding the details of implementing policy normalization. The greenback surged against majority of its person Wednesday after Fed Chairman Ben Bernanke hinted at possibilities of the central bank slowing its bond purchases. Initially, dollar briefly dropped across the board after Bernanke said monetary stimulus is helping the U.S.economy recovery. http://blog.fxcc.com/forex-technical-market-analysis-may-23-2013/
FOREX ECONOMIC CALENDAR
2013-05-23 07:30 GMT ECB President Draghi's Speech senectus
2013-05-23 08:30 GMT Gross Domestic Product (YoY) (Q1)
2013-05-23 12:30 GMT Initial Jobless Claims (May 17)
2013-05-23 14:00 GMT New Home Sales (MoM) (Apr)
FOREX NEWS
2013-05-23 04:13 GMT More volatility expected with EU PMI on tap
2013-05-23 03:32 GMT USD/JPY turns below 103.5 on bad China data
2013-05-23 03:09 GMT GBP/JPY edging lower towards support at 154.50
2013-05-23 03:01 GMT AUD/NZD glued to 1.20 despite Aussie disaster
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Forex Technical Analysis EURUSD
MARKET ANALYSIS – Intraday Analysis
http://blog.fxcc.com/wp-content/uploads/2013/05/118.png
Upwards scenario: EURUSD broke all supportive measure yesterday and currently stabilized near its lows. Appreciation above the resistive barrier at 1.2864 (R1) is compulsory to commence positive market structure and validate next intraday targets at 1.2887 (R2) and 1.2909 (R3). Downwards scenario: However our both moving averages are pointing down and if the price manages to break our key support level at 1.2824 (S1) we would expect further depreciation towards to our next targets, located at 1.2803 (S2) and 1.2781 (S3).
Resistance Levels: 1.2864, 1.2887, 1.2909
Support Levels: 1.2824, 1.2803, 1.2781
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Forex Technical Analysis GBPUSD
MARKET ANALYSIS – Intraday Analysis
http://blog.fxcc.com/wp-content/uploads/2013/05/210.png
Upwards scenario: Prolonged movement yesterday on the downside determined negative bias on the short-term perspective. Though possible penetration above the resistance level at 1.0573 (R1) might keep bulls in play, targeting next resistances at 1.5109 (R2) and 1.5145 (R3). Downwards scenario: The downside direction remains favored according to the technical indicators. Our key support measure lies at 1.5010 (S1). Decline below it would enable next targets located at 1.4978 (S2) and 1.4944 (S3).
Resistance Levels: 1.5073, 1.5109, 1.5145
Support Levels: 1.5010, 1.4978, 1.4944
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Forex Technical Analysis USDJPY
MARKET ANALYSIS – Intraday Analysis
http://blog.fxcc.com/wp-content/uploads/2013/05/39.png
Upwards scenario: Price accelerates on the downside recently and likelihood of closing on the positive side today is low. However price appreciation the next resistance level at 102.25 (R1) would suggest next initial targets at 102.55 (R2) and 102.84 (R3). Downwards scenario: Next barrier on the way is seen at 101.76 (S1). Break here would open way towards to next intraday target at 101.48 (S2) and then final aim locates at 101.19 (S3).
Resistance Levels: 102.25, 102.55, 102.84
Support Levels: 101.76, 101.48, 101.19
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC May 24 2013
Will German GDP/IFO be the catalyst to take EUR/USD back above 1.3000?
The EUR/USD finished the session sharply higher, mainly benefiting from a better than expected European PMI data print. It will be another busy upcoming economic session in Europe, with German GDP due out at 6:00GMT, followed by German IFO at 8:00GMT. One has to ask, if the print comes in better than expected, will it be enough to take the pair back above the critical resistance level of 1.3000(the 20dma)? According to analysts at Rabobank, “there was a modestly firmer tone, maybe a ‘less downbeat tone’ is a better description because despite improvement they remain sub-50, to the suite of eurozone PMIs. In Germany, the Manufacturing PMI gained to 49.0, up from April’s 48.1 and the Services PMI ticked up to 49.8 from 49.6. France’s Manufacturing PMI increased to 45.5 from 44.4 and the Services PMI held steady at 44.3. For the eurozone as a whole, the Manufacturing PMI gained to 47.8 from April’s 46.7.”
They went on to add,“there’s no particularly strong message in these data but they are consistent with our thinking – and that of the ECB – that Europe’s economy will show some improvement as this year unfolds. Calmer financial market conditions should pay a positive dividend to the real economy over time.” The ‘risk on’ vs. ‘risk off’ sentiment of the equity market will also be something to keep in mind. It was interesting to see the EUR/USD go well bid on a day when the Nikkei dropped 7%. However, its hard to imagine this correlation continuing should US equities start a serious correction. Furthermore, some analysts believe that just because the recent EU PMI data came in better than expected, EU officials will not deviate from the dovish rhetoric which has been plentiful in recent weeks. https://support.fxcc.com/email/technical/24052013/
FOREX ECONOMIC CALENDAR :
2013-05-24 06:00 GMT | Germany. Gfk Consumer Confidence Survey (Jun)
2013-05-24 08:00 GMT | Germany. IFO - Business Climate (May)
2013-05-24 10:00 GMT | Germany. German Buba President Weidmann speech
2013-05-24 12:30 GMT | USA. Durable Goods Orders (Apr)
FOREX NEWS :
2013-05-24 04:14 GMT | USD/JPY breaks below 102 like hot butter once again
2013-05-24 04:03 GMT | AUD/USD gets pounded down to 0.9650
2013-05-24 03:21 GMT | Sterling holds support at previous lows, continues to find aggressive bids near 1.5000
2013-05-24 02:13 GMT | GBP/JPY closes below 20dma for first time since April 5th
EURUSD :
HIGH 1.2937 LOW 1.29041 BID 1.29290 ASK 1.29294 CHANGE -0.03% TIME 08 : 17:53
https://support.fxcc.com/email/technical/24052013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EURUSD consolidates prior macroeconomic news announcement. Our next resistive barrier is seen at 1.2945 (R1). Break here is required to drive market price towards to next visible targets at 1.2962 (R2) and 1.2978 (R3) later on today. Downwards scenario: Although market players may prefer to increase exposure on the short positions and push the price below the support level at 1.2903 (S1). Possible price devaluation would suggest next initial targets at 1.2886 (S2) and then 1.2867 (S3).
Resistance Levels: 1.2945, 1.2962, 1.2978
Support Levels: 1.2903, 1.2886, 1.2867
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GBPUSD :
HIGH 1.51139 LOW 1.50639 BID 1.51015 ASK 1.51026 CHANGE -0.02% TIME 08 : 17:53
https://support.fxcc.com/email/technical/24052013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: GBPUSD retraced after the initial downtrend formation. Next resistive barrier on the way is mark at 1.5119 (R1). Loss here is required to push the price towards to our targets at 1.5147 (R2) and 1.5177 (R3) later on today. Downwards scenario: Our next support level lies at 1.5062 (S1). Clearance here might resume downtrend expansion. Our intraday target locates at 1.5031 (S2) and 1.5001 (S3).
Resistance Levels: 1.5119, 1.5147, 1.5177
Support Levels: 1.5062, 1.5031, 1.5001
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USDJPY :
HIGH 102.585 LOW 101.084 BID 101.480 ASK 101.482 CHANGE -0.52% TIME 08 : 17:54
https://support.fxcc.com/email/technical/24052013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Market players may prefer to stay neutral today during limited tier one macroeconomic data flow from Japan, though a break of our resistance at 102.00 (R1) would suggest next targets at 102.35 (R2) and 102.70 (R3). Downwards scenario: A short-term technical structure might turn into negative side below the support level at 101.07 (S1). Possible price depreciation would then be targeting support at 100.76 (S2) en route to final target at 100.43 (S3).
Resistance Levels: 102.00, 102.35, 102.70
Support Levels: 101.07, 100.76, 100.43
Source: FX Central Clearing Ltd,( Free Forex Demo Account | Forex Software | Forex Trading Blog | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC May 27 2013
EU gives the go-ahead to Spanish bank restructuring plan
The European Commission announced on Wednesday its approval of the plans to restructure Spain's four nationalized banks: Bankia, Nova Caixa Galicia, Catalunya Caixa and Banco de Valencia. Vice President of the European Commission responsible for Competition Policy Joaquín Almunia said in the European morning that the injection of 37 billion euros of the bank rescue would require a 60% reduction in the size of the nationalized financial institutions by 2017.
Joaquín Almunia informed that during the negotiations with Spanish authorities and the banks in question it was established that the recapitalization funds would be distributed as follows: 18 billion euros for Bankia, 9 billion for Catalunya Caixa, 5.5 billion for Nova Caixa Galicia and 4.5 billion for Banco de Valencia. The four nationalized financial institutions should abandon conceding loans for high risk activities and should transfer 45 billion euros of toxic assets to the newly created bad bank. Catalunya Caixa and Nova Caixa Galicia are expected to be sold before 2017.
http://blog.fxcc.com/forex-technical-market-analysis-may-27-2013/
FOREX ECONOMIC CALENDAR :
2012-11-29 08:55 GMT | Germany. Unemployment Change (Nov)
2012-11-29 10:30 GMT | United Kingdom. BoE's Governor King Speech
2012-11-29 13:30 GMT | United States. Gross Domestic Product Annualized (Q3)
2012-11-29 15:00 GMT | United States. Pending Home Sales (MoM) (Oct)
FOREX NEWS :
2012-11-29 06:12 GMT | EUR/GBP flat below 0.8100, 50% Fibo
2012-11-29 05:36 GMT | GBP/USD trying to push higher, eyeing 1.6020
2012-11-29 05:25 GMT | NZD/USD higher on US 'fiscal cliff' optimism
2012-11-29 04:09 GMT | EUD/USD bullish while above 1.2885 – Scotiabank
Forex Technical Analysis EURUSD :
MARKET ANALYSIS – Intraday Analysis
http://blog.fxcc.com/wp-content/uploads/2013/05/122.png
Upwards scenario: Next on tap, resistance level at 1.2962 (R1). A break higher could open the door for an attack to next target at 1.2980 (R2) and final immediate resistance is seen at 1.2996 (R3). Downwards scenario: Further retracement formation on the medium-term might occur below the support level at 1.2939 (S1), break here is required to put focus on actual targets at 1.2921 (S2) and 1.2903 (S3).
Resistance Levels: 1.2962, 1.2980, 1.2996
Support Levels: 1.2939, 1.2921, 1.2903
Forex Technical Analysis GBPUSD :
MARKET ANALYSIS – Intraday Analysis
http://blog.fxcc.com/wp-content/uploads/2013/05/211.png
Upwards scenario: Upside risk aversion is seen above the resistance at 1.6021 (R1). Any violation of that level would be considered as signal of possible uptrend formation towards to our targets at 1.6031 (R2) and 1.6042 (R3).Downwards scenario: Though, our medium-term outlook is bearish. A break through support level at 1.6005 (S1) is possible en route towards to our intraday targets at 1.5994 (S2) and 1.5983 (S3).
Resistance Levels: 1.6021, 1.6031, 1.6042
Support Levels: 1.6005, 1.5994, 1.5983
Forex Technical Analysis USDJPY :
MARKET ANALYSIS – Intraday Analysis
http://blog.fxcc.com/wp-content/uploads/2013/05/311.png
Upwards scenario: The pair might face key resistive bastion at 82.22 (R1). A break above it might activate upside pressure and suggest the short-term targets at 82.30 (R2) and 82.39 (R3). Downwards scenario: On a slightly longer term focus has returned to the support at 82.00 (S1). If the market manages to overcome it, next hurdle lies at 81.91 (S2) and 81.82 (S3).
Resistance Levels: 82.22, 82.30, 82.39
Support Levels: 82.00, 81.91, 81.82
Source: FX Central Clearing Ltd,( Currency Converter | Top ECN Forex Broker | Forex Demo Account | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC May 28 2013
As last week’s volatility in Japanese markets demonstrates central banks do not have it all their own way. Unfortunately for Japan the risk remains that policy makers spur higher yields without accompanying growth, an outcome that would be highly undesirable, especially if it hits economic activity. Equity markets and risk assets in general came under pressure and safe havens found long lost bids, with core bond yields moving lower and JPY and CHF strengthening. The heightened volatility in markets was also partly triggered by concerns about the timing of the tapering off of Fed asset purchases, with Fed Chairman Bernanke setting the cat amongst the pigeons by with commenting about the possibility of reducing asset purchases over the next few meetings. Additionally weaker than forecast Chinese manufacturing confidence data came as another blow to markets. While the market reaction looked a tad overdone in it is notable that the dichotomy between growth and equity market performance has widened over recent weeks.
This week is likely to begin on a calmer note, with holidays in the US and UK today. Data releases in the US will remain encouraging , with May consumer confidence likely to move higher although US Q1 GDP is likely to be revised slightly lower to 2.4% due an inventories hit. In Europe, while the trajectory of recovery is starting from a much lower base there will be some improvement in business confidence in May while inflation will be well contained at 1.3% YoY in May, an outcome that will maintain room for more European Central Bank policy easing. In Japan a sixth straight negative CPI reading will highlight jus how difficult the job is for the Bank of Japan to meet its inflation target. The JPY was a major beneficiary of last week’s volatility helped by short covering as speculative positioning in the currency reached its lowest level since July 2007. A calmer tone to markets ought to ensure that JPY upside will be limited and USD buyers are likely to emerge just below the USD/JPY 100 level. In contrast the EUR has been surprisingly well behaved despite the fact that speculative EUR positioning has also dropped sharply over recent weeks. While the overall trend is lower EUR/USD will find some support on any dip to around 1.2795 this week.
http://blog.fxcc.com/forex-technical-market-analysis-may-28-2013/
FOREX ECONOMIC CALENDAR
2013-05-28 06:00 GMT Switzerland. Trade Balance (Apr)
2013-05-28 07:15 GMT Switzerland. Employment Level (QoQ)
2013-05-28 14:00 GMT USA. Consumer Confidence (May)
2013-05-28 23:50 GMT Japan. Retail Trade (YoY) (Apr)
FOREX NEWS
2013-05-28 05:22 GMT USD/JPY offered at 102 figure
2013-05-28 04:23 GMT Bearish chart pattern developments still favor further downside in EUR/USD
2013-05-28 04:17 GMT AUD/USD erased all loses, back above 0.9630
2013-05-28 03:31 GMT GBP/USD chopping around 1.5100 in Asia trade
Forex Technical Analysis EURUSD
MARKET ANALYSIS – Intraday Analysis
http://blog.fxcc.com/wp-content/uploads/2013/05/125.png
Upwards scenario: Recently pair gained momentum on the downside however appreciation above the next resistance at 1.2937 (R1) might be a good catalyst for a recovery action towards to next expected targets at 1.2951 (R2) and 1.2965 (R3). Downwards scenario: Any downside penetration is limited now to the initial support level at 1.2883 (S1). A breach of which would open a route towards to next target at 1.2870 (S2) and potentially could expose our final support at 1.2856 (S3) later on today.
Resistance Levels: 1.2937, 1.2951, 1.2965
Support Levels: 1.2883, 1.2870, 1.2856
Forex Technical Analysis GBPUSD
MARKET ANALYSIS – Intraday Analysis
http://blog.fxcc.com/wp-content/uploads/2013/05/212.png
Upwards scenario: New portion of macroeconomic data releases might increase volatility later on today. Our resistances at 1.5139 (R2) and 1.5162 (R3) could be exposed in case of possible upwards penetration. But first, price is required to overcome our key resistive barrier at 1.5117 (R1). Downwards scenario: Downside development remains for now limited to the next technical mark at 1.5085 (S1), clearance here would create a signal of possible market weakening towards to next expected targets at 1.5063 (S2) and 1.5040 (S3).
Resistance Levels: 1.5117, 1.5139, 1.5162
Support Levels: 1.5085, 1.5063, 1.5040
Forex Technical Analysis USDJPY
MARKET ANALYSIS – Intraday Analysis
http://blog.fxcc.com/wp-content/uploads/2013/05/312.png
Upwards scenario: USDJPY upwards penetration is approaching our next resistive barrier at 102.14 (R1). Surpassing of this level may initiate bullish pressure towards to next visible targets at 102.41 (R2) and 102.68 (R3). Downwards scenario: Risk of possible corrective action is seen below the support at 101.65 (S1). With penetration here opens a route towards to our immediate support level at 101.39 (S2) and any further price cut would then be limited to final target at 101.10 (S3).
Resistance Levels: 102.14, 102.41, 102.68
Support Levels: 101.65, 101.39, 101.10
Source: FX Central Clearing Ltd,( FX Central Clearing Ltd (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC May 29 2013
EUR Succumbs to Rise in U.S. Yields
Demand for U.S. dollars kept pressure on the euro and all major currencies throughout the North American session. Between the recovery in U.S. stocks and the surge in U.S. yields, the dollar is one of the most coveted currencies. Even though we haven’t seen a major pickup in foreign demand for U.S. dollars, particularly from Japan, the longer U.S. yields hold above 2% (10 year yields are at 2.15%), the more tempting it will be for foreign investors. The lack of U.S. data at the front of the week means the lack of threat to the dollar rally. As long as the good news continues to flow in, the dollar will remain in demand. How well the greenback performs against various currencies will of course depend on how economic data from those countries fare. We have seen some recent improvements in Eurozone data that reduces the chance of additional easing by the European Central Bank. German labor market numbers are scheduled for release tomorrow and an upside surprise will keep the EUR above 1.28.
The main driver of EUR/USD weakness has been the divergence between U.S. and Eurozone data – one was improving as the other was deteriorating. If we start to see improvements in the Eurozone economy, then the dynamics affecting the euro will start to change to benefit of the currency. Unfortunately based on the latest PMI numbers, there’s a risk of a downside surprise. According to the report, staffing levels fell for the first time since January with job shedding seen in both the manufacturing and service sectors. If unemployment rolls climb in the month of May, the EUR/USD could extend its losses but even then, the losses could be contained to 1.28, a level that has held for the past month. We probably need to see back to back weakness in Eurozone data (German unemployment and retail sales) for 1.28 to be broken.
http://blog.fxcc.com/forex-technical-market-analysis-may-29-2013/
FOREX ECONOMIC CALENDAR
2013-05-29 07:55 GMT Germany. Unemployment Change (May)
2013-05-29 12:00 GMT Germany. Consumer Price Index (YoY) (May)
2013-05-29 14:00 GMT Canada. BoC Interest Rate Decision
2013-05-29 23:50 GMT Japan. Foreign bond investment
FOREX NEWS
2013-05-29 04:41 GMT Sterling hovering above critical support at 1.5000
2013-05-29 04:41 GMT USD unchanged; IMF lowers China GDP forecast
2013-05-29 04:16 GMT EUR/USD technical picture continues to sour, more declines to come?
2013-05-29 03:37 GMT AUD/JPY continues to find firm bids near 97.00
Forex Technical Analysis EURUSD
MARKET ANALYSIS – Intraday Analysis
http://blog.fxcc.com/wp-content/uploads/2013/05/126.png
Upwards scenario: Our medium-term outlook is shifted to the negative side after the losses provided yesterday, however market appreciation is possible above the next resistance at 1.2880 (R1). Loss here would suggest next intraday targets at 1.2899 (R2) and 1.2917 (R3). Downwards scenario: Fresh low at 1.2840 (S1) offers a key resistive measure on the downside. Break here is required to enable bearish pressure and validate next target at 1.2822 (S2). Final support for today locates at 1.2803 (S3).
Resistance Levels: 1.2880, 1.2899, 1.2917
Support Levels: 1.2840, 1.2822, 1.2803
Forex Technical Analysis GBPUSD
MARKET ANALYSIS – Intraday Analysis
http://blog.fxcc.com/wp-content/uploads/2013/05/213.png
Upwards scenario: Our attention on the upside is put to the next resistive barrier at 1.5052 (R1). Break here is required to stimulate bullish forces to expose initial targets at 1.5078 (R2) and 1.5104 (R3) later on today. Downwards scenario: On the other hand, break below the support at 1.5014 (S1) is required to enable further market decline. Our next supportive measures locates at 1.4990 (S2) and 1.4967 (S3).
Resistance Levels: 1.5052, 1.5078, 1.5104
Support Levels: 1.5014, 1.4990, 1.4967
Forex Technical Analysis USDJPY
MARKET ANALYSIS – Intraday Analysis
http://blog.fxcc.com/wp-content/uploads/2013/05/313.png
Upwards scenario: Instrument gained momentum on the upside recently, turning short-term bias to the positive side. Further upwards penetration above the resistance at 102.53 (R1) would enable bullish forces and might drive market price towards to our initial targets at 102.70 (R2) and 102.89 (R3). Downwards scenario: On the other hand, prolonged movement below the initial support level at 102.01 (S1) might trigger protective orders execution and drive market price towards to supportive means at 101.82 (S2) and 101.61 (S3).
Resistance Levels: 102.53, 102.70, 102.89
Support Levels: 102.01, 101.82, 101.61
Source: FX Central Clearing Ltd,( Forex Trading Education | ECN Trading Forex Account | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC May 30 2013
OECD: Global economy is moving forward at multiple speeds
In its biannual Economic Outlook report, published on Wednesday, the Organization for Economic Cooperation and Development reduced the global growth outlook to 3.1% from the previous estimate of 3.4%. It expects the US and the Japanese economies to improve this year, suggesting at the same time that the Eurozone will continue to lag which might have “negative implications for the global economy."
The OECD cut the Eurozone growth forecast to -0.6% from -0.1% estimated in November 2012, warning that "activity is still falling, reflecting ongoing fiscal consolidation, weak confidence and tight credit conditions, especially in the periphery." The Eurozone economy should rebound to 1.1% in 2014. The OECD also urged the ECB to seriously consider implementing QE and introducing negative deposit rates in order to stimulate recovery in the area. China, which already saw its growth outlook reduced on Tuesday by the IMF, is expected to grow by 7.8% this year, down from a previous estimate of 8.5%. The organization was more upbeat about the US, which is projected to grow by 1.9% in 2013 and by 2.8% in 2014. Japan's growth forecast was hiked to 1.6% from 0.7%, with the prospect of a 1.4% gain next year, owing to the BoJ's implementation of fiscal and monetary stimulus programs.
http://blog.fxcc.com/forex-technical-market-analysis-may-30-2013/
FOREX ECONOMIC CALENDAR
2013-05-30 06:00 GMT UK. Nationwide Housing Prices n.s.a (YoY) (May)
2013-05-30 12:30 GMT USA. Gross Domestic Product Price Index
2013-05-30 14:30 GMT USA. Pending Home Sales (YoY) (Apr)
2013-05-30 23:30 GMT Japan. National Consumer Price Index (YoY) (Apr)
FOREX NEWS
2013-05-30 04:39 GMT USD eases to key level at 83.50 ahead of US GDP
2013-05-30 03:11 GMT GBP/USD – Bullish engulfing candle to spur further advances?
2013-05-30 02:29 GMT EUR/USD edging towards resistance at 1.3000
2013-05-30 01:50 GMT Aussie edging higher towards resistance at 0.9700
Forex Technical Analysis EURUSD
MARKET ANALYSIS – Intraday Analysis
http://blog.fxcc.com/wp-content/uploads/2013/05/127.png
Upwards scenario: Recent upside penetration is limited now to the key resistive barrier at 1.2977 (R1). Appreciation above this mark might likely push the pair toward to next targets at 1.2991 (R2) and 1.3006 (R3) in potential. Downwards scenario: Possible bull back on the hourly chart might face next hurdle at 1.2933 (S1). Break here is required to open road towards to our next retracement target at 1.2919 (S2) en route to final aim at 1.2902 (S3).
Resistance Levels: 1.2977, 1.2991, 1.3006
Support Levels: 1.2933, 1.2919, 1.2902
Forex Technical Analysis GBPUSD
MARKET ANALYSIS – Intraday Analysis
http://blog.fxcc.com/wp-content/uploads/2013/05/214.png
Upwards scenario: A bullish oriented market participant might pressures to test our next resistance level at 1.5165 (R1). Loss here could open a route towards to our interim target at 1.5188 (R2) and the main aim for today locates at 1.5211 (R3). Downwards scenario: As long as price stays below the moving averages our medium-term outlook would be negative. Though, extension lower the 1.5099 (S1) is being able to drive market price towards to our next supports at 1.5076 (S2) and 1.5053 (S3).
Resistance Levels: 1.5165, 1.5188, 1.5211
Support Levels: 1.5099, 1.5076, 1.5053
Forex Technical Analysis USDJPY
MARKET ANALYSIS – Intraday Analysis
http://blog.fxcc.com/wp-content/uploads/2013/05/314.png
Upwards scenario: USDJPY recently tested negative side and currently remains stable below the 20 SMA. Possible price appreciation is limited to the resistance level at 101.53 (R1). Only clear break here would suggest next intraday targets at 101.81 (R2) and 102.09 (R3). Downwards scenario: Any prolonged movement below the support at 100.60 (S1) might prolong downside pressure and drive market price towards to supportive means at 100.34 (S2) and 100.08 (S3).
Resistance Levels: 101.53, 101.81, 102.09
Support Levels: 100.60, 100.34, 100.08
Source: FX Central Clearing Ltd,( Currency Converter | Forex ECN Broker | Forex Demo Account |FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC May 31 2013
Will the Dollar Recover Too?
U.S. stocks and Treasury yields resumed their rise but the dollar failed to follow. Instead of trading higher, the greenback lost value against most of the major currencies. The EUR/USD rose above 1.30 and USD/JPY slipped below 101 after a round of weaker than expected economic data. Equity and fixed income traders shrugged off the data but FX traders refused to budge. Long dollar positions are still being cut which suggests that currency traders are still worried about the volatility in the financial markets and the eagerness of the Fed to taper asset purchases. U.S. equity and fixed income traders have completely ignored the 5% drop in the Nikkei overnight. Japanese stocks are 13% off its highs and if it continues to decline, it may have ripple effects over to U.S. markets and keep the dollar in corrective mode. However if the Nikkei stabilizes and starts to recover, then the dollar has a chance of joining the recovery.
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FOREX ECONOMIC CALENDAR
2013-05-31 08:30 GMT UK. Net Lending to Individuals (MoM)
2013-05-31 09:00 GMT EMU. Consumer Price Index - Core (YoY)
2013-05-31 12:30 GMT USA. Personal Spending (Apr)
2013-05-31 13:55 GMT USA. Reuters/Michigan Consumer Sentiment Index (May)
FOREX NEWS
2013-05-31 04:01 GMT ‘Pennant’ pattern break out on EUR/USD targets a move north of 1.3200
2013-05-31 03:43 GMT Aussie advances capped below 0.9700
2013-05-31 02:30 GMT EUR/AUD off fresh 1.5-year highs below 1.35
2013-05-31 01:53 GMT AUD/JPY firm bounce off 97.00 support, sets eyes on 98.30
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Forex Technical Analysis EURUSD
MARKET ANALYSIS – Intraday Analysis
https://support.fxcc.com/email/technical/31052013/EURUSD.png
HIGH 1.30593 LOW 1.30312 BID 1.30405 ASK 1.30410 CHANGE -0.06% TIME 08 : 39:18
OUTLOOK SUMMARY Up
TREND CONDITION Up trend
TRADERS SENTIMENT Bearish
IMPLIED VOLATILITY Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Further bullish momentum might occur if the price manages to climb above the key resistance level at 1.3061 (R1). Next targets on the way could be exposed at 1.3081 (R2) and 1.3101 (R3). Downwards scenario: On the other hand, corrective action would be reasonable scenario in current price setup. Next on tap is seen support level at 1.3026 (S1), break here is required to enable our initial targets at 1.3006 (S2) and 1.2987 (S3)
Resistance Levels: 1.3061, 1.3081, 1.3101
Support Levels: 1.3026, 1.3006, 1.2987
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Forex Technical Analysis GBPUSD
MARKET ANALYSIS – Intraday Analysis
https://support.fxcc.com/email/technical/31052013/GBPUSD.png
HIGH 1.52392 LOW 1.52151 BID 1.52260 ASK 1.52269 CHANGE -0.02% TIME 08 : 39:19
OUTLOOK SUMMARY Up
TREND CONDITION Up trend
TRADERS SENTIMENT Bullish
IMPLIED VOLATILITY Medium
Upwards scenario: An evidence of further uptrend formation could be provided if the pair manages to surpass key resistive barrier at 1.5239 (R1). Execution of protective orders above that level might enable initial targets at 1.5257 (R1) and 1.5274 (R3). Downwards scenario: Recent upside momentum likely exhausted and we expect some stabilization ahead. Next supportive bastion lies at 1.5211 (S1). Prolonged movement below it might then expose our intraday targets at 1.5193 (S2) and 1.5176 (S3).
Resistance Levels: 1.5239, 1.5257, 1.5274
Support Levels: 1.5211, 1.5193, 1.5176
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Forex Technical Analysis USDJPY
MARKET ANALYSIS – Intraday Analysis
https://support.fxcc.com/email/technical/31052013/USDJPY.png
HIGH 101.281 LOW 100.679 BID 100.871 ASK 100.874 CHANGE 0.15% TIME 08 : 39:20
OUTLOOK SUMMARY Down
TREND CONDITION Sideway
TRADERS SENTIMENT Bullish
IMPLIED VOLATILITY Medium
Upwards scenario: Price has comfortably ranged on the hourly timeframe however we see potential to overcome our next resistance level at 101.30 (R1) later on today. Our eventual targets locates at 101.60 (R2) and 101.90 (R3). Downwards scenario: If the price failed to gain momentum on the upside we expect retest of our key support level at 100.47 (S1). Clearance here is required to keep the downside extension intact and enable our lower targets at 100.16 (S2) and 99.87 (S3).
Resistance Levels: 101.30, 101.60, 101.90
Support Levels: 100.47, 100.16, 99.87
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jun 04 2013
Fitch cuts Cyprus to B-, negative outlook
Fitch Ratings has downgraded Cyprus's long-term foreign currency issuer default rating by one notch to 'B-' from 'B' while keeping a negative outlook due to the country's elevated economic uncertainty. The rating agency had placed Cyprus on negative watch in March. With this decision, Fitch pushed Cyprus further into junk territory, now 6 notches. "Cyprus has no flexibility to deal with domestic or external shocks and there is a high risk of the (EU/IMF) program going off track, with financing buffers potentially insufficient to absorb material fiscal and economic slippage," Fitch said in a statement.
The EUR/USD finished the day sharply higher, at one point trading all the way up to 1.3107 before leaking lower later in the day to close up 76 pips at 1.3070. Some analysts were pointing towards weaker than expected ISM data from the US as the main catalyst for the bullish move in the pair. Economic data out of the US will slow down a bit the next few days, but volatility is certain to pick up as we approach the ECB Rate Decision on Thursday, as well as the Non-Farm Payrolls number due out of the US on Friday.
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FOREX ECONOMIC CALENDAR :
2013-06-04 08:30 GMT | UK. PMI Construction (May)
2013-06-04 09:00 GMT | EMU. Producer Price Index (YoY) (Apr)
2013-06-04 12:30 GMT | USA. Trade Balance (Apr)
2013-06-04 23:30 GMT | Australia. AiG Performance of Services Index (May)
FOREX NEWS :
2013-06-04 04:30 GMT | RBA Interest Rate Decision stays unchanged at 2.75%
2013-06-04 03:20 GMT | Will economic data later in week free EUR/USD from range bound behavior?
2013-06-04 02:13 GMT | EUR/AUD finds some ground in the 1.34 round area
2013-06-04 02:00 GMT | AUD/JPY advances capped below 97.50
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EURUSD :
HIGH 1.30804 LOW 1.30566 BID 1.30572 ASK 1.30575 CHANGE -0.14% TIME 08 : 22:51
https://support.fxcc.com/email/technical/04062013/EURUSD.png
OUTLOOK SUMMARY Up
TREND CONDITION Upward penetration
TRADERS SENTIMENT Bearish
IMPLIED VOLATILITY Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: While price is quoted above the 20 SMA, our technical outlook would be positive. Yesterday high offers next resistance level at 1.3107 (R1). Any price action above it would suggest next targets at 1.3127 (R2) and 1.3147(S3). Downwards scenario: On the other hand, price pattern suggests bearish potential if the instrument manages to overcome next support level at 1.3043 (S1). Possible price regress could expose our initial targets at 1.3023 (S2) and 1.3003 (S3) in potential.
Resistance Levels: 1.3107, 1.3127, 1.3147
Support Levels: 1.3043, 1.3023, 1.3003
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GBPUSD :
HIGH 1.53427 LOW 1.53101 BID 1.53115 ASK 1.53119 CHANGE -0.05% TIME 08 : 22:52
https://support.fxcc.com/email/technical/04062013/GBPUSD.png
OUTLOOK SUMMARY Up
TREND CONDITION Up trend
TRADERS SENTIMENT Bearish
IMPLIED VOLATILITY Medium
Upwards scenario: Next barrier on the upside lie at 1.5343 (R1). Surpassing of this level might enable our initial target at 1.5362 (R2) and any further gains would then be limited to last resistive structure at 1.5382 (R3). Downwards scenario: On the downside our attention is shifted to the immediate support level at 1.5307 (S1). Break here is required to enable bearish forces and expose our intraday targets at 1.5287 (S2) and 1.5267 (S3).
Resistance Levels: 1.5343, 1.5362, 1.5382
Support Levels: 1.5307, 1.5287, 1.5267
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USDJPY :
HIGH 99.88 LOW 99.333 BID 99.838 ASK 99.839 CHANGE 0.31% TIME 08 : 22:52
https://support.fxcc.com/email/technical/04062013/USDJPY.png
OUTLOOK SUMMARY Down
TREND CONDITION Upward penetration
TRADERS SENTIMENT Bullish
IMPLIED VOLATILITY Medium
Upwards scenario: Possible bullish penetration might face next challenge at 100.02 (R1). Break here is required to establish retracement action, targeting 100.32 (R2) en route towards to last resistance for today at 100.65 (R3). Downwards scenario: Penetration below the support at 99.31 (S1) is liable to put more downward pressure on the instrument in the near-term perspective. As a result our supportive means at 99.04 (S2) and 98.75 (S3) might be triggered.
Resistance Levels: 100.02, 100.32, 100.65
Support Levels: 99.31, 99.04, 98.75
Source: FX Central Clearing Ltd,( Forex Training | Best Automatic Forex Trading Platforms | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jun 05 2013
IMF's Lagarde urges Greece not to relax bailout efforts
MF head Christine Lagarde said in an interview for the Greek state TV on Tuesday that the country was making progress on its bailout program but that it nevertheless should increase efforts to combat tax evasion and implement reforms to attract foreign investors. 'Now is not the time to relax the effort,' Lagarde said, adding that "There are some really positive developments but obviously more needs to be done.” She listed tax evasion and reforms to spur foreign investment as the most important issues which need to be dealt with. This week EU, ECB and IMG inspectors return to Athens for another revision of the Greek bailout program, during which they are expected to focus on the Greek government's progress in reducing state employee numbers.
The EUR/USD traded in a narrow range today but still managed to finish the day in positive territory, closing up 11 pips at 1.3081. Economic data out of the both the EU and US was light, but will pick up as we approach the end of the week with the ECB Interest Rate Decision on Thursday, as well as US Non Farm Payrolls on Friday. However, before the real fireworks begin, some analysts are pointing to tomorrow’s ADP data out of the US as a possible catalyst for tomorrow’s price action. According to Sean Callow at Westpac, “we have the ADP report plus non manufacturing ISM jobs components tonight. There is a great deal of focus on jobs data in the US given recent speculation about Fed tapering its asset purchase programs. ADP disappointed in April but has not had much directional success in picking payrolls outcomes. The ISM report on Monday casts a long shadow over tonight's non manufacturing report. Arguably, markets will be set up for a softer outcome given the weaker US$ in recent sessions. Tonight's data could prove to be important for FX markets.”
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FOREX ECONOMIC CALENDAR :
2013-06-05 08:28 GMT | UK. Markit Services PMI (May)
2013-06-05 09:00 GMT | EMU. Gross Domestic Product
2013-06-05 14:00 GMT | USA. ISM Non-Manufacturing PMI (May)
2013-06-05 18:00 GMT | USA. Fed's Beige Book
FOREX NEWS :
2013-06-05 05:11 GMT | USD/JPY back below 100; Australia GDP disappoints
2013-06-05 04:39 GMT | AUD/JPY searching for bids near 96.00
2013-06-05 03:26 GMT | EUR/USD technical indicators beginning to look more constructive
2013-06-05 01:46 GMT | AUD/USD breaking lower towards 0.9600 after Aussie GDP data
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EURUSD :
HIGH 1.30964 LOW 1.30653 BID 1.30899 ASK 1.30903 CHANGE 0.08% TIME 08 : 56:44
https://support.fxcc.com/email/technical/05062013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: We are not expecting significant volatility increase today however upside risk aversion is seen above the next resistance level at 1.3107 (R1). Price evaluation above this level would suggest next targets at 1.3127 (R2) and 1.3147 (R3). Downwards scenario: While instrument trades above the moving averages, our short-term bias would stay positive though penetration below the support level at 1.3064 (S1) might open way towards to lower targets at 1.3043 (S2) and 1.3023 (S3).
Resistance Levels: 1.3107, 1.3127, 1.3147
Support Levels: 1.3064, 1.3043, 1.3023
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GBPUSD :
HIGH 1.53379 LOW 1.52912 BID 1.53331 ASK 1.53336 CHANGE 0.14% TIME 08 : 56:45
https://support.fxcc.com/email/technical/05062013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Medium- term tendency remains bullish as both moving averages are pointing up. Further progress above the resistance level at 1.5343 (R1) would open way towards to next targets at 1.5362 (R2) and 1.5382 (R3). Downwards scenario: Measures of support might be activating when the pair approaches the 1.5307 (S1). If it continues to extend its weakening below it we expect next targets to be exposed at 1.5287 (S2) and 1.5267 (S3) later on.
Resistance Levels: 1.5343, 1.5362, 1.5382
Support Levels: 1.5307, 1.5287, 1.5267
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USDJPY :
HIGH 100.462 LOW 99.385 BID 99.592 ASK 99.597 CHANGE -0.48% TIME 08 : 56:46
https://support.fxcc.com/email/technical/05062013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: We see potential to test our resistive barrier at 99.75 (R1). Successful penetration above this mark might shift traders sentiment to the bullish side and validate our intraday targets at 100.02 (R2) and 100.32 (R3). Downwards scenario: Further downtrend development is limited now to the key supportive barrier at 99.31 (S1). Only loss here would enable our intraday targets at 99.04 (S2) and 98.75 (S3) on the downside.
Resistance Levels: 99.75, 100.02, 100.32
Support Levels: 99.31, 99.04, 98.75
Source: FX Central Clearing Ltd,( Forex ECN Brokers List | Auto Forex Trading Account | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jun 06 2013
EUR Prime for a Breakout on ECB
The euro is prime for a breakout. Unlike other major currency pairs, EUR/USD traded in a relatively tight range throughout the European and North American sessions. On a technical basis, the currency pair stayed between the 100 and 200-day SMAs for the past 48 hours, which reflects the hesitation of investors who are waiting for a catalyst to take the currency pair out of its range. Tomorrow could be the perfect opportunity for a breakout in the pair with the European Central Bank scheduled to deliver its monetary policy decision. The ECB is widely expected to leave interest rates unchanged leaving Mario Draghi's press conference as the primary focus for FX traders.
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FOREX ECONOMIC CALENDAR :
2013-06-06 11:00 GMT | BoE Interest Rate Decision
2013-06-06 11:45 GMT | ECB Interest Rate Decision
2013-06-06 12:30 GMT | ECB Monetary policy statement and press conference
2013-06-06 12:30 GMT | USA. Initial Jobless Claims
FOREX NEWS :
2013-06-06 05:16 GMT | GBP/USD dealing around 1.54 ahead of BoE
2013-06-06 04:59 GMT | USD lower but holding above 82.50 DXY; Aussie smacked
2013-06-06 04:24 GMT | Economic data set to heighten volatility in EUR/USD
2013-06-06 00:24 GMT | AUD/USD cracks the big 0.95 figure down
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EURUSD :
HIGH 1.31089 LOW 1.30751 BID 1.31005 ASK 1.31009 CHANGE 0.07% TIME 08 : 35:19
https://support.fxcc.com/email/technical/06062013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EURUSD stabilized after the initial uptrend formation. Potential to move higher is seen above the next resistance level at 1.3116 (R1). Loss here would suggest next intraday targets at 1.3135 (R2) and 1.3155 (R3). Downwards scenario: We would shift our intraday technical outlook to the negative side if the price manage to penetrate below the key support at 1.3074 (S1). Clearance here is required to enable intraday targets at 1.3053 (S2) and 1.3033 (S3).
Resistance Levels: 1.3116, 1.3135, 1.3155
Support Levels: 1.3074, 1.3053, 1.3033
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GBPUSD :
HIGH 1.54157 LOW 1.5381 BID 1.54005 ASK 1.54011 CHANGE -0.03% TIME 08 : 35:20
https://support.fxcc.com/email/technical/06062013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Ascending structure on GBPUSD suggest possible correction ahead though break above the resistance at 1.5418 (R1) is liable to stimulate bullish pressure and validate interim target at 1.5443 (R2) en route final aim at 1.5469 (R3). Downwards scenario: Retracement action is possible if the price manages to overcome our initial support level at 1.5359 (S1). In such case we would suggest intraday targets at 1.5353 (S2) and 1.5327 (S3).
Resistance Levels: 1.5418, 1.5443, 1.5469
Support Levels: 1.5359, 1.5353, 1.5327
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USDJPY :
HIGH 99.466 LOW 98.862 BID 99.348 ASK 99.352 CHANGE 0.29% TIME 08 : 35:21
https://support.fxcc.com/email/technical/06062013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Next hurdle on the upside is seen at important technical level – 99.55 (R1). If the price manages to overcome it we expect further acceleration towards to our initial targets at 99.83 (R2) and 100.12 (R3). Downwards scenario: On the downside next challenge is seen at 98.86 (S1). Breakthrough of this mark would open way for a downside expansion and could possibly trigger our initial targets at 98.58 (S2) and 98.30 (R3) later on today.
Resistance Levels: 99.55, 99.83, 100.12
Support Levels: 98.86, 98.58, 98.30
Source: FX Central Clearing Ltd,( FX Central Clearing Ltd (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jun 07 2013
Will Non-Farm Payrolls Save or Kill the Dollar?
The big story today in the financial markets was the sell-off in the U.S. dollar. The greenback fell quickly and aggressively against all of the major currencies right around the European close and held onto its losses to end the day down 2% against the Japanese Yen and more than 1% against the euro, British pound and Swiss Franc. There were a few different factors behind the sell-off in the greenback. The dollar initially traded lower on the optimistic comments from ECB President Draghi but those losses were contained to the EUR/USD. USD/JPY did not see any losses until 90 minutes before the European close at 12pm NY Time and only when it started to break down did the dollar collapse against all of the major currencies.
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FOREX ECONOMIC CALENDAR :
2013-06-07 06:00 GMT | Germany. Trade Balance s.a. (Apr)
2013-06-07 08:30 GMT | UK. Total Trade Balance (Apr)
2013-06-07 12:30 GMT | USA. Nonfarm Payrolls (May)
2013-06-07 19:00 GMT | USA. Consumer Credit Change (Apr)
FOREX NEWS :
2013-06-07 04:46 GMT | USD/JPY attempts to fight back above 96.00 in Asia trade
2013-06-07 03:36 GMT | EUR/USD technical picture looks set for further advances ahead of NFP
2013-06-07 02:43 GMT | Aussie breaks 0.9550 as selling resumes in Asia
2013-06-07 01:40 GMT | USD/JPY breaks momentarily below 97 figure
EURUSD :
HIGH 1.32688 LOW 1.32355 BID 1.32534 ASK 1.32540 CHANGE 0.06% TIME 08 : 24:35
https://support.fxcc.com/email/technical/07062013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Apparently market sentiment is clearly positive for the EURUSD as both moving averages are pointing up. Clearance of our resistance level at 1.3305 (R1) would open the way for an upside penetration towards to next targets at 1.3337 (R2) and 1.3370 (R3). Downwards scenario: Possible price depreciation is limited to the key support barrier at 1.3223 (S1). Break here is required to enable corrective action towards to lower targets at 1.3190 (S2) and 1.3157 (S3).
Resistance Levels: 1.3305, 1.3337, 1.3370
Support Levels: 1.3223, 1.3190, 1.3157
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GBPUSD :
HIGH 1.56178 LOW 1.55808 BID 1.55949 ASK 1.55963 CHANGE -0.02% TIME 08 : 24:36
https://support.fxcc.com/email/technical/07062013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Yesterday high offers a key resistive barrier at 1.5684 (R1). Subsequently loss here might create upside momentum and drive market price towards to our initial targets at 1.5732 (R2) and 1.5781 (R3) in potential. Downwards scenario: Possible downside extension might face next supportive barrier at 1.5564 (S1). Clearance here is required to open the way towards to interim target at 1.5517 (S2) and any further price regress would then be targeting 1.5467 (S3).
Resistance Levels: 1.5684, 1.5732, 1.5781
Support Levels: 1.5564, 1.5517, 1.5467
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USDJPY :
HIGH 97.517 LOW 95.549 BID 96.696 ASK 96.701 CHANGE -0.27% TIME 08 : 24:37
https://support.fxcc.com/email/technical/07062013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: After dipping lower today we see potential of market strengthening in near-term perspective. Next on tap is seen resistance level at 97.57 (R1). Break here would suggest next intraday targets at 98.07 (R2) and 98.58 (R3). Downwards scenario: Price regress below the support level at 95.53 (S1) would increase likelihood of failing towards to our key supportive barrier at 95.07 (S2) and any further market decline would then be targeting final support for today at 94.58 (S3).
Resistance Levels: 97.57, 98.07, 98.58
Support Levels: 95.53, 95.07, 94.58
Source: FX Central Clearing Ltd,( Free Forex Demo Accounts | Top ECN Forex Broker | Forex Blog | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jun 10 2013
EUR/USD still searching for direction after NFP Data
After trading as high as 1.3284 ahead of the US Non Farm Payroll data, the EUR/USD was unable to hold onto early gains and ended the session 68 pips lower 1.3216. The lack of follow through after the sharp gains early in the week is somewhat concerning, but thus far the pair has been able to hold onto the critical support level located in the 1.3200 area. Some analysts are pointing towards a combination between the Non Farm Payroll data, as well as comments from ECB President Draghi at the most recent ECB meeting as reasons to expect limited upside for the EUR/USD in coming days. According to Marc Chandler, Head of Currency Strategy at BBH, “We warned that although the technical factors looked constructive for the dollar, the fundamentals, in the form of the ECB not delivering on the negative deposit rate (that Draghi said he had an open mind about) and additional aid for small and medium size businesses, were less supportive.”
Although he believes the jobs number was not strong enough to warrant any QE tapering in the near future, Chandler noted downside potential in the USD is limited at current levels. “We anticipated that the jobs data would not support notions from some Fed officials (and market participants) that tapering of the purchases of long-term assets could being as early as this month. Now we suspect the dollar's down move has been largely exhausted and we anticipate a recovery in the dollar into a new trading range,” Chandler concluded.
https://support.fxcc.com/email/technical/10062013/
FOREX ECONOMIC CALENDAR :
2013-06-10 07:15 GMT | Switzerland. Real Retail Sales (YoY) (Apr)
2013-06-10 08:30 GMT | EMU. Sentix Investor Confidence (Jun)
2013-06-10 12:15 GMT | Canada. Housing Starts s.a (YoY) (May)
2013-06-10 23:01 GMT | UK. RICS Housing Price Balance (May)
FOREX NEWS :
2013-06-10 04:37 GMT | EUR/USD still searching for direction after NFP Data
2013-06-10 03:35 GMT | Kiwi attempting bounce towards 0.7900
2013-06-10 02:51 GMT | AUD/JPY consolidating below 92.50
2013-06-10 02:20 GMT | USD/JPY advances capped below 98.50
EURUSD :
HIGH 1.32285 LOW 1.31852 BID 1.31975 ASK 1.31978 CHANGE -0.13% TIME 08 : 26:07
https://support.fxcc.com/email/technical/10062013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Market sentiment is neutral according to the technical indicators. Though any prolonged movement above the resistive measure at 1.3242 (R1) would suggest next intraday targets at 1.3277 (R2) and 1.3311 (R3). Downwards scenario: Medium-term ascending structure might lose its power if the price manages to overcome next support level at 1.3187 (S1). Clearance here might determine intraday negative bias and expose our initial targets at 1.3159 (S2) and 1.3129 (S3).
Resistance Levels: 1.3242, 1.3277, 1.3311
Support Levels: 1.3187, 1.3159, 1.3129
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GBPUSD :
HIGH 1.55627 LOW 1.55179 BID 1.55262 ASK 1.55274 CHANGE -0.17% TIME 08 : 26:08
https://support.fxcc.com/email/technical/10062013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: GBPUSD remains under correction mode after initial uptrend formation. However strengthening above the next resistive structure at 1.5565 (R1) might activate bullish pressure and expose our intraday targets at 1.5602 (R2) and 1.5641 (R3). Downwards scenario: Key support level lies at 1.5486 (S1). Penetration below it might shift medium-term tone to the negative side. Our intraday targets locates at 1.5449 (S2) and 1.5411 (S3).
Resistance Levels: 1.5565, 1.5602, 1.5641
Support Levels: 1.5486, 1.5449, 1.5411
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USDJPY :
HIGH 98.427 LOW 97.71 BID 98.235 ASK 98.240 CHANGE 0.73% TIME 08 : 26:09
https://support.fxcc.com/email/technical/10062013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low
Upwards scenario: Market gradually recovers previous week losses. If pair gains momentum on the upside and overcome our next resistance at 98.58 (R1), we would suggest next resistances at 98.95 (R2) and 99.33 (R3) as possible targets. Downwards scenario: On the other hand, depreciation below the technically important support level at 97.77 (S1) would allow further market decline on the medium-term perspective. Possible targets lies at 97.36 (S2) and 96.92 (S3).
Resistance Levels: 98.58, 98.95, 99.33
Support Levels: 97.77, 97.36, 96.92
Source: FX Central Clearing Ltd,( Forex Software | Forex Basics | Forex ECN Trading Account | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jun 11 2013
USD/JPY searching for direction after BoJ Meeting
The USD/JPY has experienced a fairly volatile Asia session, at one point declining all the way down to 97.78 before finding support and currently consolidating near the 98.30 level. The main catalyst for the sharp drop appeared to come right after the Bank of Japan announced they wouldn’t be making any changes to current monetary policy.
Analysts on the FXStreet.com team noted although many had expected the policy to remain unchanged, there were rumors circling of possible adjustments to help control the recent government bond market volatility which may have helped spark the initial declines when market participants saw the adjustments to current policy were not made. “The Bank of Japan monetary policy meeting offered no particular response to the latest episodes of market volatility in JGB, which includes the failure to change maturities of fixed rate operations in order to ease bond market volatility. Also, there had been some rumors about a proposal to extend the loans to 2 years, something that was not accepted, leading to a strong selling in both the Nikkei and USD/JPY,” FXstreet.com team concluded.
https://support.fxcc.com/email/technical/11062013/
FOREX ECONOMIC CALENDAR :
N/A | Japan. BoJ Monetary Policy Statement
N/A | Germany. Germany Constitutional court ruling on OTM bond buying
2013-06-11 08:30 GMT | UK. Manufacturing Production
2013-06-11 14:00 GMT | UK. NIESR GDP Estimate
2013-06-11 05:00 GMT | USD/JPY searching for direction after BoJ Meeting
2013-06-11 04:43 GMT | 10% appreciation by the USD in 12-18 months - Societe Generale
2013-06-11 04:34 GMT | AUD/USD faces deeper falls on clean 0.94 breakout - JPMorgan
2013-06-11 04:01 GMT | GBP/USD possibly gunning for 1.5800 - 2ndSkies
EURUSD :
HIGH 1.32917 LOW 1.32474 BID 1.32702 ASK 1.32705 CHANGE 0.11% TIME 08 : 27:25
https://support.fxcc.com/email/technical/11062013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Market remains relatively stable, though clearance of next resistance level at 1.3292 (R1) might initiates bullish pressure. Above the local high locates our resistive means at 1.3321 (R2) and 1.3350 (R3). Downwards scenario: Activation of bearish forces is possible below the support level at 1.3244 (S1). Clearance here would suggest next interim target at 1.3216 (S2) and if the price holds its momentum we would suggest final aim at 1.3187 (S3).
Resistance Levels: 1.3292, 1.3321, 1.3350
Support Levels: 1.3244, 1.3216, 1.3187
----------------------
GBPUSD :
HIGH 1.5602 LOW 1.55563 BID 1.55820 ASK 1.55825 CHANGE 0.06% TIME 08 : 27:25
https://support.fxcc.com/email/technical/11062013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Resistance level at 1.5602 (R1) acts as reference point for further market strengthening. Break here is required to enable next interim target at 1.5635 (R2) en route towards to final aim for today at 1.5667 (R3). Downwards scenario: Though, possibility of correction is high. Devaluation below the support at 1.5552 (S1) would initiate bearish pressure. On the way our next interim support at 1.5521 (S2) en route to final target at 1.5488 (S3).
Resistance Levels: 1.5602, 1.5635, 1.5667
Support Levels: 1.5552, 1.5521, 1.5488
--------------------
USDJPY :
HIGH 99.056 LOW 97.791 BID 98.226 ASK 98.231 CHANGE -0.52% TIME 08 : 27:26
https://support.fxcc.com/email/technical/11062013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: USDJPY commence correction phase and currently any upside action is limited to the next resistive structure at 98.58 (R1). Break here is required to enable upside pressure towards to intraday targets at 98.95 (R2) and 99.33 (R3). Downwards scenario: Prolonged movement below the supportive measure at 97.77 (S1) is required to activate downtrend expansion. Next aim on the way would be mark at 97.36 (S2) and then final target could be met at 96.97 (S3).
Resistance Levels: 98.58, 98.95, 99.33
Support Levels: 97.77, 97.36, 96.97
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jun 12 2013
Strong technical set up helps EUR/USD post highest close since mid February
The EUR/USD finished the session sharply higher, surpassing the critical resistance level near 1.3300 and closing up 57 pips at 1.3312 (highest daily close since Feb 19th). In what was a quiet day of economic releases from both the EU and US, analysts were searching for catalyst to help explain the impressive strength. Derek Halpenny, European Head of Global Markets Research at Bank of Tokyo Mitsubishi UFJ, was pointing towards recent hawkish comments from ECB President Draghi as an initial catalyst for the sharp move higher. “The euro remains incredibly solid and has advanced further versus the dollar. ECB President Draghi did speak yesterday and stated that rates would rise once the euro-zone economy improved – a statement of the obvious.”
In further discussing his views, Halpenny went on to comment, “We suspect that the current euro demand is probably emanating from the unwinding of long high yielding currency positions. Both the dollar and the euro were likely used as funding currencies for these positions and hence the euro is modestly out-performing the dollar.” To conclude his view, Halpenny went on to say he expects the EUR/USD will start to decline once the position unwind is completed.
https://support.fxcc.com/email/technical/12062013/
FOREX ECONOMIC CALENDAR :
N/A | Germany. Constitutional court ruling on OMT bond buying
2013-06-12 06:00 GMT | Germany. Consumer Price Index (YoY) (May)
2013-06-12 08:30 GMT | UK. Claimant Count Change (May)
2013-06-12 21:00 GMT | New Zeland. Monetary Policy Statement
FOREX NEWS :
2013-06-12 04:10 GMT | German CPI next: Impact on EUR/USD
2013-06-12 03:43 GMT | USD/CAD has found a short term base - TDS
2013-06-12 03:36 GMT | AUD/JPY advances capped near 91.50
2013-06-12 02:40 GMT | AUD/USD inching higher towards 0.9500
-------------------------
EURUSD :
HIGH 1.33172 LOW 1.32972 BID 1.33003 ASK 1.33004 CHANGE -0.1% TIME 08 : 24:49
https://support.fxcc.com/email/technical/12062013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Upwards penetration is limited now to next resistive structure at 1.3321 (R1). Break here is required to enable higher targets at 1.3350 (R2) and 1.3378 (R3). Downwards scenario: On the other hand, depreciation below the support level at 1.3271 (S1) would suggest next intraday target at 1.3244 (S2) and any further weakening would then be limited to final support level at 1.3216 (S3).
Resistance Levels: 1.3321, 1.3350, 1.3378
Support Levels: 1.3271, 1.3244, 1.3216
--------------------
GBPUSD :
HIGH 1.56519 LOW 1.56337 BID 1.56362 ASK 1.56370 CHANGE -0.06% TIME 08 : 24:50
https://support.fxcc.com/email/technical/12062013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Possible upwards formation is limited now to resistive measure at 1.5654 (R1). A break above it would suggest next intraday target at 1.5686 (R2) and if the price holds its momentum we can expect price increase towards to final resistance at 1.5717 (R3). Downwards scenario: On the downside our focus is shifted to the next support level at 1.5618 (S1). Loss here is required to push the price towards to our next interim targets at 1.5584 (S2) en route towards to final support at 1.5550 (S3)
Resistance Levels: 1.5654, 1.5686, 1.5717
Support Levels: 1.5618, 1.5584, 1.5550
------------------
USDJPY :
HIGH 96.778 LOW 95.918 BID 96.738 ASK 96.743 CHANGE 0.76% TIME 08 : 24:51
https://support.fxcc.com/email/technical/12062013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: A violation of next resistance at 97.29 (R1) might call for a run towards to next target at 97.71 (R2) and any further appreciation would then be limited to final target at 98.13 (R3). Downwards scenario: Negative developments might be settled below the important support level at 96.21 (S1). Any price action below it would then be targeting support at 95.79 (S2) and final target could be exposed at 95.37 (S3) mark.
Resistance Levels: 97.29, 97.71, 98.13
Support Levels: 96.21, 95.79, 95.37
Source: FX Central Clearing Ltd,( ECN Currency Trading Blog | Forex Training and Tips | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jun 13 2013
IMF approves €657 million bailout tranche for Portugal
The International Monetary Fund (IMF) approved the seventh tranche of Portugal's bailout Wednesday and gave the country more time to meet its budget-cutting goals. The IMF will disburse the next tranche worth €657 million after the successful review of a bailout program that started in 2011. Meanwhile, the fund eased conditions, allowing Portugal to lower its budget deficit to 3% of GDP by 2015 from 6.4% in 2012, instead of by 2014. "The Portuguese authorities have put forward a program that is economically well-balanced and has growth and job creation at its center", IMF acting Managing Director John Lipsky wrote in a statement.
With Chinese markets back in business after a 5 day weekend closed over holidays, local share markets were dumped with Nikkei index leading the way lower losing at one point more than -6%. USD posted fresh 4-month lows at 80.66 DXY with USD/JPY printing fresh 2-month lows at 94.36, and EUR/USD 3-month highs above 1.3360. Gold and Oil showed little changes on the move. Australian job market surprised to the upside adding 1.1k more jobs to the economy when -10k were expected, making AUD/USD dip below the 0.9450 level. RBNZ left interest rates unchanged at 2.5%, with NZD/USD hanging around the 0.79 figure.
http://blog.fxcc.com/forex-technical-market-analysis-june-13-2013/
FOREX ECONOMIC CALENDAR :
2013-06-13 08:00 GMT | EMU. ECB Monthly Report
2013-06-13 12:30 GMT | USA. Retail Sales (MoM) (May)
2013-06-13 14:00 GMT | USA. Business Inventories (Apr)
2013-06-13 23:50 GMT | Japan. BoJ Monetary Policy Meeting Minutes
FOREX NEWS :
2013-06-13 04:55 GMT | USD/JPY technical set up continues to deteriorate as bears maintain control
2013-06-13 04:27 GMT | GBP/USD resting below 1.57 figure
2013-06-13 03:49 GMT | EUR/JPY cracks 127.00, further selling pressure revealed
2013-06-13 03:15 GMT | USD/CAD, sustained weakness below 1.0170/75 needed – TDS
--------------------
Forex Technical Analysis EURUSD :
MARKET ANALYSIS – Intraday Analysis
http://blog.fxcc.com/wp-content/uploads/2013/06/15.png
Upwards scenario: Uptrend evolvement remains in power. Further appreciation above the resistive barrier at 1.3371 (R1) is compulsory to commence positive market structure and validate next intraday targets at 1.3395 (R2) and 1.3418 (R3). Downwards scenario: Any downside fluctuations remains for now limited to the key support barrier at 1.3335 (S1). Only clear break here would be a signal of possible market easing towards to our targets at 1.3311 (S2) and 1.3288 (S3) in potential.
Resistance Levels: 1.3371, 1.3395, 1.3418
Support Levels: 1.3335, 1.3311, 1.3288
---------------------------
Forex Technical Analysis GBPUSD :
MARKET ANALYSIS – Intraday Analysis
http://blog.fxcc.com/wp-content/uploads/2013/06/23.png
Upwards scenario: market looks overbought and possibility of retracement is high. Though loss of the next resistive barrier at 1.5706 (R1) might push the price towards to our targets at 1.5733 (R2) and 1.5761 (R3) later on today. Downwards scenario: We placed our support level right above the Monday high at 1.5654 (S1). Clearance here is required to open way towards to our interim target at 1.5626 (S2) and then final aim locates at 1.5598 (S3).
Resistance Levels: 1.5706, 1.5733, 1.5761
Support Levels: 1.5654, 1.5626, 1.5598
-------------------------
Forex Technical Analysis USDJPY :
MARKET ANALYSIS – Intraday Analysis
http://blog.fxcc.com/wp-content/uploads/2013/06/33.png
Upwards scenario: Medium term bias is clearly negative on USDJPY however we expect see some recovery action later on today. Key resistive bastion lies at 95.12 (R1). If the price manages to break it, we would suggest next targets at 95.67 (R2) and 96.21 (R3). Downwards scenario: Risk of price depreciation is seen below the support level at 93.90 (S1). A fall below it might prolong the weakness towards to next target at 93.40 (S2) and any further market decline would then be limited to final support at 92.91 (S3).
Resistance Levels: 95.12, 95.67, 96.21
Support Levels: 93.90, 93.40, 92.91
Source: FX Central Clearing Ltd,( Currency Trading Blog | Best ECN Broker | Forex Trading System | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jun 14 2013
Draghi says OMT necessary, effective and within ECB mandate
Mario Draghi defended the Outright Monetary Transactions (OMT) a day after the ECB and the Bundesbank confronted in a public hearing at Germany's top court on the legality of the bond-buying program. ECB President said the program was necessary, effective and in line with the ECB mandate. He pointed that benefits are 'visible to everybody' across Europe including Germany, in particular, falling bond yields in Italy and Spain.
"It is fully in line with our mandate because it is designed to preserve price stability for the euro area and uses instruments foreseen in the Statute," Draghi said according to the transcript of a video statement after receiving the responsible leadership award 2013 from the European School of Management and Technology in Berlin. Meanwhile, Draghi urged eurozone leaders to stick reforms and to push for greater integration "to build a stronger economic and monetary union based on shared sovereignty and greater legitimacy". "For the euro area now to move forward and establish itself on stronger ground, we need all decision makers to take their responsibilities," Draghi said.
https://support.fxcc.com/email/technical/14062013/
FOREX ECONOMIC CALENDAR :
2013-06-14 09:00 GMT | EMU. Consumer Price Index (YoY) (May)
2013-06-14 12:30 GMT | USA. Producer Price Index (YoY) (May)
2013-06-14 13:15 GMT | USA. Industrial Production (MoM) (May)
2013-06-14 13:55 GMT | USA. Reuters/Michigan Consumer Sentiment Index (Jun)
FOREX NEWS :
2013-06-14 04:21 GMT | GBP/USD treading water around 1.57 figure
2013-06-14 03:08 GMT | AUD/USD dealing with 0.9600 bids
2013-06-14 01:06 GMT | USD/JPY knocks on 94.50 session lows
2013-06-14 01:06 GMT | EUR/USD, look for highly corrective pullbacks to join bulls - 2ndSkies
EURUSD :
HIGH 1.33745 LOW 1.33422 BID 1.33468 ASK 1.33474 CHANGE -0.21% TIME 08 : 20:56
https://support.fxcc.com/email/technical/14062013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: While instrument trades above the 20 SMA, it keeps immediate upside potential. Next resistance is seen at 1.3379 (R1), break above it might extend gains towards to next targets at 1.3412 (R2) and 1.3444 (R3). Downwards scenario: Failure to establish positive bias today might lead to the recovery action in near term perspective. Next immediate support locates at 1.3305 (S1). Break here is required to enable bearish pressure towards to our targets at 1.3272 (S2) and 1.3239 (S3).
Resistance Levels: 1.3379, 1.3412, 1.3444
Support Levels: 1.3305, 1.3272, 1.3239
------------------
GBPUSD :
HIGH 1.57199 LOW 1.56943 BID 1.57021 ASK 1.57034 CHANGE -0.1% TIME 08 : 20:57
https://support.fxcc.com/email/technical/14062013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: GBPUSD keeps bullish potential. Next hurdle on the upside might be found at 1.5737 (R1). Break here would open road towards to our interim aim at 1.5768 (R2) and enable final intraday resistive measure at 1.5799 (R3). Downwards scenario: Retracement action might occur below the key support level at 1.5671 (S1). Break here would open road towards to next supportive measure at 1.5639 (S2) and then final supportive bastion could be found at 1.5606 (S3).
Resistance Levels: 1.5737, 1.5768, 1.5799
Support Levels: 1.5671, 1.5639, 1.5606
--------------------------
USDJPY :
HIGH 95.797 LOW 94.429 BID 95.309 ASK 95.314 CHANGE -0.05% TIME 08 : 20:57
https://support.fxcc.com/email/technical/14062013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Instrument resumed consolidation phase from its initial downtrend formation. Resistance level at 95.67 (R1) is a key technical point on the upside. Penetration above it would suggest higher targets at 96.21 (R2) and 96.75 (R3) later on today. Downwards scenario: Market decline below the supportive mean at 94.38 (S1) might trigger bearish pressure and enable lower target at 93.85 (S2). Final target for today locates at 93.26 (R3) price level.
Resistance Levels: 95.67, 96.21, 96.75
Support Levels: 94.38, 93.85, 93.26
Source: FX Central Clearing Ltd,( FX Central Clearing Ltd (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jun 17 2013
Dollar Outlook Next Week Hinges on Bernanke
The month of June has proven to be an extremely volatile period in the forex market as the U.S. dollar fell aggressively against many major currencies. Unfortunately we can't expect the markets to calm anytime soon with a heavy dose of economic data expected from countries around the world. The U.K. and Australia will release monetary policy minutes, the Swiss National Bank will hold a monetary policy meeting and of course - we also have the Federal Reserve's monetary policy announcement on the calendar. In addition to these event risks, Eurozone PMIs, New Zealand GDP, UK retail sales, US manufacturing data and Canadian retail sales are also scheduled for release. Yet there's no question that of all these events, the most important will be the Fed meeting. Much of the volatility in the financial markets has been caused by the uncertainty of Fed policy. There's been a lot of talk about tapering asset purchases, which has caused stocks to weaken but at the same time, central bank officials and noted Fed watchers have stressed that a reduction in Quantitative Easing does not equate to tightening. They are absolutely right and we think that the rest of the market is beginning to realize this connection as well but based on the reaction to Jon Hilsenrath's article this week, there are still a subset who need convincing.
https://support.fxcc.com/email/technical/17062013/
FOREX ECONOMIC CALENDAR :
24h | All. G8 Meeting
2013-06-17 09:00 GMT | EMU. Labour cost (Q1)
2013-06-17 09:00 GMT | EMU. Trade Balance n.s.a. (Apr)
2013-06-17 12:30 GMT | USA. NY Empire State Manufacturing Index (Jun)
FOREX NEWS :
2013-06-17 04:55 GMT | EUR/AUD testing 1.3850 support on Euro weakness
2013-06-17 04:02 GMT | EUR/USD dips to fresh session lows ahead of G-8
2013-06-17 02:23 GMT | USD/JPY extends gains above 94.50
2013-06-17 00:49 GMT | Aussie pops above 0.96 USD
EURUSD :
HIGH 1.33573 LOW 1.33184 BID 1.33187 ASK 1.33191 CHANGE -0.16% TIME 08 : 14:08
https://support.fxcc.com/email/technical/17062013/EURUSD.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EURUSD trapped to the consolidation phase. Local high at 1.3358 (R1) offers a key resistance level. Break here is required to take the pair towards to initial targets at 1.3379 (R2) and 1.3399 (R3). Downwards scenario: Penetration below the support level at 1.3294 (S1) might maintain a negative tone and prolong corrective action. Price devaluation would then be targeting our supportive measures at 1.3272 (S2) and 1.3250 (S3) in potential.
Resistance Levels: 1.3358, 1.3379, 1.3399
Support Levels: 1.3294, 1.3272, 1.3250
---------------------
GBPUSD :
HIGH 1.57319 LOW 1.56927 BID 1.56935 ASK 1.56944 CHANGE -0.02% TIME 08 : 14:09
https://support.fxcc.com/email/technical/17062013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: GBPUSD is approaching our next resistive barrier at 1.5737 (R1) on the upside. Surpassing of this level may initiate bullish pressure towards to next visible targets at 1.5768 (R2) and 1.5799 (R3). Downwards scenario: If the price failed to overcome our next resistance level we expect market easing below the support level at 1.5671 (S1). Loss here would shift our intraday outlook to the bearish side with expected targets at 1.5639 (S2) and 1.5606 (S3).
Resistance Levels: 1.5737, 1.5768, 1.5799
Support Levels: 1.5671, 1.5639, 1.5606
----------------------
USDJPY :
HIGH 94.837 LOW 94.098 BID 94.722 ASK 94.726 CHANGE 0.67% TIME 08 : 14:09
https://support.fxcc.com/email/technical/17062013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low
Upwards scenario: Upside formation is limited now to the next resistive barrier at 95.05 (R1). Clearance here is required to provide a space for a move towards to next target at 95.53 (R2) and then final aim would be 96.04 (R3). Downwards scenario: On the other hand, an element of supportive measures could be found at 94.24 (S1). Clearance here would suggest possible downtrend development towards to initial targets, located at 93.75 (S2) and 93.27 (S3).
Resistance Levels: 95.05, 95.53, 96.04
Support Levels: 94.24, 93.75, 93.27
Source: FX Central Clearing Ltd,( Forex Account | Best ECN Forex Brokers | Forex Trading Systems | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jun 18 2013
Dollar Strengthens, Stocks Soar as Traders Position for FOMC
Yesterday we saw how much of a difference a few hours can make with the dollar recovering earlier losses to end the North American session higher against most of the major currencies. With only one day to go before the Federal Reserve's monetary policy announcement, the big move in equities and the reversal in currencies suggests that traders are beginning to position for FOMC. Yet taking a look at how the various markets are trading, there seems to be more confusion than clarity on what the central bank will say or do. The rise in the dollar and the increase in U.S. Treasury yields imply that currency and equity traders believe that the main takeaway from this week's meeting will be that the central bank is gearing up to taper. However the rally in U.S. equities suggest that stock traders believe that the Fed will make a point to distinguish tapering from tightening and reassure investors that cheap and easy money will remain available for a very long period of time. If Bernanke is successful in convincing the market that they will take a very gradualist approach to tapering, the U.S. dollar could give up its gains. However if Bernanke emphasizes the central bank's plans for tapering over its difference with tightening, the dollar could extend its rise.
https://support.fxcc.com/email/technical/18062013/
FOREX ECONOMIC CALENDAR :
N/A | UK. BOE Inflation Letter
2013-06-18 06:00 GMT | EMU. ECB President Draghi's Speech
2013-06-18 08:30 GMT | UK. Consumer Price Index (YoY) (May)
2013-06-18 12:30 GMT | USA. Consumer Price Index (YoY) (May)
FOREX NEWS :
2013-06-18 05:03 GMT | GBP/USD capped at 1.57 ahead of UK CPI
2013-06-18 04:38 GMT | EUR/USD braces for volatile week
2013-06-18 03:28 GMT | AUD/JPY hovering above 90.00
2013-06-18 02:58 GMT | GBP/JPY advances remain capped below 149.50
----------------------
EURUSD :
HIGH 1.33676 LOW 1.33466 BID 1.33526 ASK 1.33527 CHANGE -0.1% TIME 08 : 36:46
https://support.fxcc.com/email/technical/18062013/EURUSD.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Current price setup might suggest volatility increase in near term perspective. If the price get acceleration on the upside and manages to surpass our resistive measure at 1.3382 (R1), we would suggest next targets at 1.3402 (R2) and 1.3422 (R3). Downwards scenario: On the other hand, an element of supportive measures could be found at 1.3326 (S1). Clearance here would suggest possible downtrend development towards to initial targets at 1.3307 (S2) and 1.3286 (S3).
Resistance Levels: 1.3382, 1.3402, 1.3422
Support Levels: 1.3326, 1.3307, 1.3286
------------------------
GBPUSD :
HIGH 1.57227 LOW 1.56943 BID 1.56961 ASK 1.56970 CHANGE -0.14% TIME 08 : 36:47
https://support.fxcc.com/email/technical/18062013/GBPUSD.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Clearance of our next resistive structure at 1.5739 (R1) would open way towards to our initial target at 1.5766 (R2) and any further market rise would then be targeting 1.5796 (R3). Downwards scenario: Any downside fluctuations remains for now limited to the next support level at 1.5679 (S1), only clear break here would be a signal of possible market easing towards to next targets at 1.5652 (S2) and 1.5624 (S3) in potential.
Resistance Levels: 1.5739, 1.5766, 1.5796
Support Levels: 1.5679, 1.5652, 1.5624
-------------------------------
USDJPY :
HIGH 94.955 LOW 94.436 BID 94.797 ASK 94.799 CHANGE 0.34% TIME 08 : 36:48
https://support.fxcc.com/email/technical/18062013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: USDJPY stabilized on the hourly chart however appreciation above the next resistance at 95.23 (R1) might be a good catalyst for a recovery action towards to next targets at 95.66 (R2) and 96.11 (R3). Downwards scenario: On the other hand, if the pair accelerates on the downside and manage to break our next support level at 94.26 (S1), it is likely to trigger our next support level at 93.82 (S2) and 93.37 (S3) later on today.
Resistance Levels: 95.23, 95.66, 96.11
Support Levels: 94.26, 93.82, 93.37
Source: FX Central Clearing Ltd,( Forex Account | Best ECN Forex Brokers | Forex Trading Systems | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jun 19 2013
EUR - Lifted by Stronger Investor Confidence
The euro traded higher against all of the major currencies today thanks to the improvement in Eurozone and German investor sentiment. The Eurozone ZEW survey rose to 30.6 from 27.6 and while investors grew less optimistic about current conditions in Germany, their confidence in future conditions improved with the expectations component of the German ZEW rising to 38.5 from 36.4. With the European Central Bank taking additional steps to stimulate the economy, this data indicates that investors are looking for a stronger recovery. In a farewell conference for Bank of Israel Governor Stanley Fischer today, European Central Bank President Mario Draghi talked about ECB monetary policy. He said the central bank would consider non-standard measures including the possibility of negative deposit rates. Draghi said, "We will look with an open mind at these measures that are especially effective in our institutional setup and that fall within our mandate." Yet he warned that these non-standard measures could also lead to unintentional consequences. Parts of the Eurozone have been unresponsive to monetary policy and Draghi has set to regain its steering capacity. He pointed out that the introduction of non-standard policy measures along with standard measures helped prevent the materialization of deflation risk.
https://support.fxcc.com/email/technical/19062013/
FOREX ECONOMIC CALENDAR :
2013-06-19 08:30 GMT | UK. Bank of England Minutes
2013-06-19 18:00 GMT | USA. Fed Interest Rate Decision
2013-06-19 18:30 GMT | USA. Fed's Monetary Policy Statement and press conference
2013-06-19 22:45 GMT | New Zeland. Gross Domestic Product (QoQ) (Q1)
FOREX NEWS :
2013-06-19 04:38 GMT | EUR/USD technical set up favors further upside ahead of FOMC
2013-06-19 03:37 GMT | GBP/JPY trapped inside the 149.50/148.50 range
2013-06-19 03:36 GMT | Bernanke not likely to backtrack on previous tapering comments - NAB
2013-06-19 03:03 GMT | EUR/AUD edging higher towards 1.4200
EURUSD :
HIGH 1.34023 LOW 1.33847 BID 1.33906 ASK 1.33911 CHANGE -0.03% TIME 08 : 30:42
https://support.fxcc.com/email/technical/19062013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Fresh portion of the economic data releases might increase volatility later on today. Clearance of our next resistive barrier at 1.3402 (R1) is required to push the price towards to our next visible targets at 1.3424 (R2) and 1.3445 (R3). Downwards scenario: On the other hand, the 1.3381 (S1) mark is a key support level on the downside. Below here is a route towards to next supports at 1.3360 (S2) and 1.3339 (S3).
Resistance Levels: 1.3402, 1.3424, 1.3445
Support Levels: 1.3381, 1.3360, 1.3339
-----------------------------
GBPUSD :
HIGH 1.56443 LOW 1.56177 BID 1.56325 ASK 1.56331 CHANGE -0.06% TIME 08 : 30:43
https://support.fxcc.com/email/technical/19062013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: The recent price acceleration on the downside suggests a possible recovery action. Next on tap is resistive barrier at 1.5657 (R1) on the way towards to higher targets at 1.5677 (R2) and 1.5697(R3). Downwards scenario: If the price failed to overcome our next resistance level we expect further market decline below the support level at 1.5616 (S1). Our intraday targets locates at 1.5597 (S2) and 1.5578 (S3).
Resistance Levels: 1.5657, 1.5677, 1.5697
Support Levels: 1.5616, 1.5597, 1.5578
-----------------------------
USDJPY :
HIGH 95.664 LOW 95.177 BID 95.336 ASK 95.339 CHANGE 0.01% TIME 08 : 30:43
https://support.fxcc.com/email/technical/19062013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Current price setup might suggest volatility increase in near term perspective. If the price get acceleration on the upside and manages to surpass our resistive measure at 95.66 (R1), we would suggest next targets at 95.96 (R2) and 96.26 (R3). Downwards scenario: Fractals level at 95.05 (S1) offers a key resistive measure on the downside. Break here is required to enable bearish pressure and validate next target at 94.75 (S2). Final support for today locates at 94.45 (S3).
Resistance Levels: 95.66, 95.96, 96.26
Support Levels: 95.05, 94.75, 94.45
Source: FX Central Clearing Ltd,( Forex Trading News | ECN Trading Account | Forex ECN Broker | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jun 20 2013
Bernanke: The Fed is ready to start tapering
Following the Fed decision to hold rates and the optimistic FOMC economic projections, Fed Chairman Ben Bernanke indicated that the Fed are ready to start tapering QE. Bernanke began by highlighting the optimistic growth forecasts for 2013 and 2014, making reference to the hotly anticipated exit strategy, commenting, on “setting fed funds target over medium term and continuing purchases of MBS”. Further, he added that an improvement in the unemployment rate to 6.5% should not be considered to be a trigger for an immediate rate hike. He added that he is personally expecting this to occur during 2015.
https://support.fxcc.com/email/technical/20062013/
FOREX ECONOMIC CALENDAR :
2013-06-20 07:30 GMT | Switzerland. SNB Interest Rate Decision
2013-06-20 08:30 GMT | UK. Retail Sales
2013-06-20 12:30 GMT | USA. Initial Jobless Claims
2013-06-20 14:00 GMT | USA. Existing Home Sales Change
FOREX NEWS :
2013-06-20 04:42 GMT | EUR/USD unable to hold a bid after FOMC release deemed hawkish
2013-06-20 04:21 GMT | USD/JPY breaches the 97.00 handle
2013-06-20 03:45 GMT | China's overnight repo surges to 25%
2013-06-20 03:28 GMT | NZD/JPY continues to consolidate around 76.00
EURUSD :
HIGH 1.3302 LOW 1.32491 BID 1.32493 ASK 1.32496 CHANGE -0.35% TIME 08 : 04:08
https://support.fxcc.com/email/technical/20062013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EURUSD broke all support levels yesterday and determined clear negative bias. Recovery action is possible above the resistive structure at 1.3302 (R1). Clearance here would enable higher targets at 1.3324 (R2) and 1.3346 (R3). Downwards scenario: Next on tap locates support level at 1.3245 (S1). Possible penetration below it would open way towards to next target at 1.3223 (S2) and then any further market decline would be limited to last mark at 1.3201 (S3).
Resistance Levels: 1.3302, 1.3324, 1.3346
Support Levels: 1.3245, 1.3223, 1.3201
---------------------------
GBPUSD :
HIGH 1.54937 LOW 1.54316 BID 1.54332 ASK 1.54345 CHANGE -0.32% TIME 08 : 04:09
https://support.fxcc.com/email/technical/20062013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: We are not expecting significant volatility on the upside today, however clearance of our next resistive barrier at 1.5503 (R1) might push the price towards to our next visible targets at 1.5531 (R2) and 1.5558 (R3). Downwards scenario: Further downtrend evolvement might get more stimulus below the support level at 1.5417 (S1). Our intraday targets locates at 1.5391 (S2) and 1.5365 (S3).
Resistance Levels: 1.5503, 1.5531, 1.5558
Support Levels: 1.5417, 1.5391, 1.5365
------------------------
USDJPY :
HIGH 97.181 LOW 96.201 BID 96.899 ASK 96.901 CHANGE 0.48% TIME 08 : 04:09
https://support.fxcc.com/email/technical/20062013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Measures of resistance might be activating when the pair approaches 97.26 (R1) price level. Break here would suggest next interim target at 97.61 (R2) and If the price keeps its momentum we expect an exposure of 97.93 (R3). Downwards scenario: Possible bull back formation might face next hurdle at 96.39 (S1). Break here is required to open road towards to our next interim target at 96.07 (S2) en route to final aim at 95.75 (S3).
Resistance Levels: 97.26, 97.61, 97.93
Support Levels: 96.39, 96.07, 95.75
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jun 21 2013
EU Fin Min struck deal on bank bailouts
Eurozone ministers struck a deal over the origin of funds for bank bailouts from now on. While the local government will contribute 20% of the new capital, the ESM (European Stability Mechanism) bailout fund will become the major contributor with an 80%, according to an official cited by Reuters. Moreover, EU finance ministers made an agreement for the ESM to be used as an investment vehicle for banks under stress, with each being assessed individually to become eligible to the aid, Reuters reported. With regards to Cyprus, EU Finance Ministers were clear that Cyprus must live up to its word by fulfilling its financial obligations. Furthermore, President of the Eurogroup Dijsselbloem was quoted on a headline saying "Implementation of agreed Cypriot baliout program is indispensible", noting that implementation is key for the Bank of Cyrus, also adding that there is likely to be a limit of 60bn euro on direct bank recap fund, although this can be reviewed.
The EUR/USD suffered more losses today, declining another 75 pips and closing at 1.3218. However, it should be noted the pair did trade as low as 1.3160 at one point, but was able to recover a decent portion of its losses before the end of the day. Analysts were discussing the release of the most recent EU PMI figures, which hit the tape during the previous European session.
https://support.fxcc.com/email/technical/21062013/
FOREX ECONOMIC CALENDAR :
24h | EMU. EcoFin Meeting
2013-06-21 06:35 GMT | Japan. Bank of Japan Governor Kuroda Speech
2013-06-21 07:00 GMT | Switzerland. Monthly Statistical Bulletin (Jun)
2013-06-21 12:30 GMT | Canada. Consumer Price Index (YoY)
FOREX NEWS :
2013-06-21 04:25 GMT | EUR/USD attempting to holds its ground, finds firm bids near 1.3160
2013-06-21 03:31 GMT | USD/JPY to revist 100.00 next week - Bank of Tokyo-Mitsubishi UFJ
2013-06-21 02:46 GMT | AUD/USD edging higher towards 0.9250
2013-06-21 02:10 GMT | EUR/JPY advances capped below 130.00
-----------------------------
EURUSD :
HIGH 1.32545 LOW 1.31995 BID 1.32345 ASK 1.32348 CHANGE 0.12% TIME 0 8: 31:10
https://support.fxcc.com/email/technical/21062013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: We are not expecting busy session ahead however upwards extension above the resistance at 1.3255 (R1) level would keep the bullish structure intact and validate our next intraday targets at 1.3272 (R2) and 1.3287 (R3). Downwards scenario: Our key support level locates at 1.3223 (S1) mark. Possible penetration below this mark would open way towards to next target at 1.3206 (S2) and then final support locates at 1.3190 (S3) price level.
Resistance Levels: 1.3255, 1.3272, 1.3287
Support Levels: 1.3223, 1.3206, 1.3190
----------------------
GBPUSD :
HIGH 1.55228 LOW 1.54896 BID 1.54975 ASK 1.54987 CHANGE -0.06% TIME 08 : 31:11
https://support.fxcc.com/email/technical/21062013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Local high, formed today offers a key resistive barrier at 1.5525 (R1). If the price manages to overcome it we would suggest next intraday targets at 1.5549 (R2) and 1.5572 (R3). Downwards scenario: Though medium-term perspective remains negative for GBP versus the Dollar. Next on tap is seen support level at 1.5485 (S1), break here is required to enable our initial targets at 1.5462 (S2) and 1.5438 (S3)
Resistance Levels: 1.5363, 1.5388, 1.5413
Support Levels: 1.5301, 1.5276, 1.5251
-----------------------
USDJPY :
HIGH 97.888 LOW 96.861 BID 97.833 ASK 97.833 CHANGE 0.6% TIME 08 : 31:12
https://support.fxcc.com/email/technical/21062013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: USDJPY remains stable below the 20 SMA. Possible price appreciation is limited to the resistance level at 98.08 (R1). Only clear break here would suggest next intraday targets at 98.36 (R2) and 98.63 (R3). Downwards scenario: Recent upside momentum likely exhausted and we expect some stabilization ahead. Next supportive bastion lies at 97.52 (S1). Prolonged movement below it might then expose our intraday targets at 97.25 (S2) and 96.98 (S3).
Resistance Levels: 98.08, 98.36, 98.63
Support Levels: 97.52, 97.25, 96.98
Source: FX Central Clearing Ltd,( Currency Converter | Forex School | ECN Forex Trading Accounts | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jun 25 2013
Will Fed Speeches Halt the Dollar Rally?
Based on the sell-off in global equities and rise in bond yields around the world, deleveraging in the financial markets intensified. However in the forex market, the U.S. dollar appears to have stabilized. Early losses for many major currencies against the dollar were recovered by the end of the day. In fact, the AUD/USD even ended the North American trading session in positive territory. Does this mean that the dollar rally has peaked? No. There were no fundamental drivers behind the reversal in the greenback outside of exhaustion. U.S. stocks continued to decline, extending losses that began at the end of May. While the S&P 500 is still up more than 11% year to date, it lost 6% of its value since setting a record high of 1,669.16 on May 21st. With 1,500 in sight more losses are likely for the S&P 500 and additional weakness in equities is a reflection of risk aversion, which could lead to further strength for the greenback.
https://support.fxcc.com/email/technical/25062013/
FOREX ECONOMIC CALENDAR :
2013-06-25 08:30 GMT | UK. BBA Mortgage Approvals (May)
2013-06-25 12:30 GMT | USA. Durable Goods Orders (May)
2013-06-25 13:00 GMT | USA. Housing Price Index (MoM) (May)
2013-06-25 14:00 GMT | USA. New Home Sales (MoM) (May)
FOREX NEWS :
2013-06-25 02:02 GMT | USD/JPY retesting 98.00 as Nikkei jumps 1%
2013-06-25 01:13 GMT | AUD/USD well supported by 0.9250, 1h EMA
2013-06-25 01:01 GMT | GBP/JPY struggling around the 151.00 handle
2013-06-25 00:21 GMT | EUR/JPY structurally bearish, above 128.40 sees relief
EURUSD :
HIGH 1.31356 LOW 1.31105 BID 1.31152 ASK 1.31158 CHANGE -0.03% TIME 08 : 19:56
https://support.fxcc.com/email/technical/25062013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: A buying interest might push the pair to attack next resistive measure at 1.3144 (R1). Clearance here is required to resume upside formation, targeting marks at 1.3162 (R2) and 1.3180 (R3) later on today. Downwards scenario: On the other hand, further downtrend formation might commence below the support level at 1.3104 (S1). Break here is required to validate our targets at 1.3087 (S2) and 1.3069 (S3) in potential.
Resistance Levels: 1.3144, 1.3162, 1.3180
Support Levels: 1.3104, 1.3087, 1.3069
-----------------------
GBPUSD :
HIGH 1.5455 LOW 1.5425 BID 1.54402 ASK 1.54410 CHANGE 0.06% TIME 08 : 19:57
https://support.fxcc.com/email/technical/25062013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: Upwards penetration is limited to the psychological resistance level at 1.5466 (R1). Clearance here might open a route towards to our initial target at 1.5486 (R2) and then further price appreciation would be targeting resistance at 1.5506 (R3). Downwards scenario: Break of the support at 1.5426 (S1) is required to determine negative intraday bias and enable lower target at 1.5405 (S2). Clearance of this target would open a path towards to final support for today at 1.5385 (S3).
Resistance Levels: 1.5466, 1.5486, 1.5506
Support Levels: 1.5426, 1.5405, 1.5385
-------------------------
USDJPY :
HIGH 98.065 LOW 97.275 BID 97.436 ASK 97.441 CHANGE -0.28% TIME 08 : 19:57
https://support.fxcc.com/email/technical/25062013/USDJPY.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: Neutral channel formation remains favored pattern on the hourly chart frame. Possible clearance of our next resistive barrier at 97.87 (R1) would suggest next intraday targets at 98.11 (R2) and 98.36 (R3) in potential. Downwards scenario: On the other hand, loss of our support level at 97.21 (S1) would open road for a market decline towards to our next target at 96.98 (S2). Any further price weakening would then be limited to final support for today at 96.73 (S3).
Resistance Levels: 97.87, 98.11, 98.36
Support Levels: 97.21, 96.98, 96.73
Source: FX Central Clearing Ltd,( ECN Broker Account | Best Forex Trading Platform | Forex Blog | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jun 26 2013
Pause Before Another Big Move?
Based on the price action over the past 48 hours in the forex market, volatility has declined as traders and investors wait for a fresh catalyst to drive the dollar higher. Better than expected U.S. economic data helped the greenback hold onto its gains against most of the major currencies but after such an extensive rally, the market is waiting for some confirmation that the Federal Reserve is on track to taper this year and won't do too much damage on the U.S. economy. The latest economic reports suggests that the economy may be able handle less stimulus but that is far from certain. As we said on Monday, the key is whether the other FOMC members are onboard with the idea. Right now, currency traders are in wait and see mode as they look forward to the next big catalyst - which could come from the speeches by Fed officials.
https://support.fxcc.com/email/technical/26062013/
FOREX ECONOMIC CALENDAR :
2013-06-26 06:00 GMT | Germany. Gfk Consumer Confidence Survey (Jul)
2013-06-26 09:30 GMT | UK. BoE's Governor King Speech
2013-06-26 12:30 GMT | USA. Gross Domestic Product. Annualized
2013-06-26 22:45 GMT | New Zeland. Trade Balance (MoM)
FOREX NEWS :
2013-06-26 04:35 GMT | The Greenback awaits next catalyst
2013-06-26 03:41 GMT | EUR/USD feeling the selling pressure; holds above 1.3050
2013-06-26 02:33 GMT | GBP/USD risk skewed to the downside - RBS
2013-06-26 01:59 GMT | USD/JPY dips below 98.00 on Yen strength
--------------------------
EURUSD :
HIGH 1.30872 LOW 1.30569 BID 1.30681 ASK 1.30687 CHANGE -0.1% TIME 08 : 21:14
https://support.fxcc.com/email/technical/26062013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Despite the current consolidation pattern, EURUSD remains in downtrend formation on the bigger picture. Clearance of our next resistance level at 1.3102 (R1) might trigger corrective action towards to our initial targets at 1.3129 (R2) and 1.3156 (R3). Downwards scenario: Risk of further price regress is seen below the support level at 1.3054 (S1). Clearance here is required to enable bearish pressure towards to next aims at 1.3029 (S2) and 1.3004 (S3) in potential.
Resistance Levels: 1.3102, 1.3129, 1.3156
Support Levels: 1.3054, 1.3029, 1.3004
--------------------------
GBPUSD :
HIGH 1.54273 LOW 1.54022 BID 1.54215 ASK 1.54227 CHANGE 0.01% TIME 08 : 21:14
https://support.fxcc.com/email/technical/26062013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Market sentiment has improved for the bullish oriented traders yesterday though medium term bias remains negative. Next visible fractals level at 1.5436 (R1) offers a key resistance level. Break here would suggest higher targets at 1.5458 (R2) and 1.5479 (R3). Downwards scenario: Current price pattern suggests bearish potential if the pair manages to overcome next support level at 1.5397 (S1). Possible price regress could expose our initial targets at 1.5377 (S2) and 1.5356 (S3) later on today.
Resistance Levels: 1.5436, 1.5458, 1.5479
Support Levels: 1.5397, 1.5377, 1.5356
--------------------
USDJPY :
HIGH 98.235 LOW 97.646 BID 97.770 ASK 97.773 CHANGE -0.06% TIME 08 : 21:15
https://support.fxcc.com/email/technical/26062013/USDJPY.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Possibility of market strengthening is seen above the immediate resistive barrier at 97.92 (R1). Rise above that level would suggest next interim target at 98.14 (R2) and then final aim locates at 98.37 (R3). Downwards scenario: On the downside our attention is shifted to the immediate support level at 97.39 (S1). Break here is required to enable bearish forces and expose our intraday targets at 97.19 (S2) and 96.99 (S3).
Resistance Levels: 97.92, 98.14, 98.37
Support Levels: 97.39, 97.19, 96.99
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jun 27 2013
EU FinMin reach deal on bank resolution rules
EU Finance Ministers reached, at the second attempt, an agreement on the new policy to manage restructuring and liquidation of banks. The deal is part of efforts to establish a banking union, which has as ultimate objective to break the link between bank debt and sovereign debt. The EcoFin meeting, celebrated ahead of Thursday's EU Summit, agreed what types of creditors must take losses in future banking crises, according to diplomatic sources. The draft document ensures that depositors with savings under €100,000 will be protected from any loss. The agreement has to be now ratified by the heads of state and government at the summit.
German unemployment and Eurozone confidence numbers are also scheduled for release today and the outcome of these reports will impact the market's expectations for ECB policy and in turn the euro. If the data is good, then the central bank's threat to increase stimulus will fall on deaf ears. Just this morning ECB President Draghi reminded everyone that the central bank stands ready to act if necessary. Unfortunately based on the latest PMI numbers, labor market conditions most likely deteriorated in the month of June and if the data is weak, confirming that ECB policy will trail far behind the Fed, the euro could find itself trading closer to 1.29. In terms of confidence, it will be tough call since there has been both strength and weakness in the latest IFO and ZEW surveys. These numbers shouldn't be as important as German unemployment.
https://support.fxcc.com/email/technical/27062013/
FOREX ECONOMIC CALENDAR :
2013-06-27 07:55 GMT | Germany. Unemployment Change (Jun)
2013-06-27 08:30 GMT | UK. Gross Domestic Product (YoY) (Q1)
2013-06-27 14:00 GMT | USA. Pending Home Sales (YoY) (May)
2013-06-27 23:30 GMT | Japan. National Consumer Price Index (YoY) (May)
FOREX NEWS :
2013-06-27 04:58 GMT | AUD/CAD, mid/low 0.99 might be retested
2013-06-27 04:54 GMT | GBP/USD bounces from sub-1.53 support
2013-06-27 04:31 GMT | EUR/USD, key day to further define sentiment
2013-06-27 03:52 GMT | AUD/USD, 0.9330/40 still proves challenging
----------------------------
EURUSD :
HIGH 1.30353 LOW 1.30046 BID 1.30350 ASK 1.30353 CHANGE 0.18% TIME 08 : 45:58
https://support.fxcc.com/email/technical/27062013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Market price penetrated above the moving averages and determined corrective phase from the initial downtrend formation. On the way is key resistive measure at 1.3058 (R1), break here is required to achieve higher targets at 1.3085 (R2) and 1.3112 (R3). Downwards scenario: On the other hand, we would shift our intraday technical outlook to the negative side if the price manage to penetrate below the next support at 1.3014 (S1). Clearance here is required to enable intraday targets at 1.2988 (S2) and 1.2961 (S3).
Resistance Levels: 1.3058, 1.3085, 1.3112
Support Levels: 1.3014, 1.2988, 1.2961
----------------------
GBPUSD :
HIGH 1.5346 LOW 1.53087 BID 1.53355 ASK 1.53356 CHANGE 0.15% TIME 08 : 45:59
https://support.fxcc.com/email/technical/27062013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Medium term bias remains negative and possible price appreciation is limited to resistive barrier at 1.5363 (R1). Prolonged movement above that level would suggest next targets at 1.5392 (R2) and 1.5421 (R3). Downwards scenario: On the downside next challenge is seen at 1.5314 (S1). Breakthrough here would open road for a downside expansion towards to our initial targets at 1.5286 (S2) and 1.5257 (R3) later on today.
Resistance Levels: 1.5363, 1.5392, 1.5421
Support Levels: 1.5314, 1.5286, 1.5257
------------------------
USDJPY :
HIGH 97.86 LOW 97.565 BID 97.731 ASK 97.735 CHANGE -0.01% TIME 08 : 46:00
https://support.fxcc.com/email/technical/27062013/USDJPY.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: USDJPY trapped to the consolidation mode after the initial uptrend development. Next resistive barrier is seen at 97.92 (R1), break here is required to enable next attractive points at 98.14 (R2) and 98.37 (R3). Downwards scenario: Possible downside expansion is protected by support level at 97.51 (S1), break here would put bullish oriented traders on hold. Marks at 97.28 (S2) and 97.05 (S3) is the next supportive bastion on the way.
Resistance Levels: 97.92, 98.14, 98.37
Support Levels: 97.51, 97.28, 97.05
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jun 28 2013
Should the Dollar be Worried about Fed Comments?
Fed Presidents Dudley, Powell and Lockhart spoke yesterday and with the first 2 being voting members of the FOMC this year, its no surprise that their comments triggered intraday volatility in the dollar. All 3 Fed Presidents said that it may be appropriate for the central bank to taper asset purchases in 2013 and end QE buying in mid-2014 but the markets chose to hone in on Dudley's comment that QE depends on the economic outlook and not the calendar and could be prolonged if the economy misses their forecasts. There's no question that the recent rise in U.S. yields has irritated central bankers but the fact Dudley still repeated Bernanke's timing after qualifying the conditions for QE means that this uber dove is most likely onboard with the idea of reducing asset purchases. Fed President Powell's stance was similar - while he sees the central bank scaling back purchases this year, he said it is data and not date dependent. Both Dudley and Lockhart didn't see Bernanke's press conference last week as a strong signal of Fed policy or a major shift but rather a "soft notion" of when QE could end.
https://support.fxcc.com/email/technical/28062013/
FOREX ECONOMIC CALENDAR :
2013-06-28 06:00 GMT | UK. Nationwide Housing Prices n.s.a (YoY) (Jun)
2013-06-28 12:00 GMT | Germany. Consumer Price Index (YoY) (Jun)
2013-06-28 12:30 GMT | Canada. Gross Domestic Product (MoM)
2013-06-28 13:55 GMT | USA. Reuters/Michigan Consumer Sentiment Index (Jun)
FOREX NEWS :
2013-06-28 05:27 GMT | AUD/JPY set to recover towards 94.00 - Westpac
2013-06-28 04:32 GMT | GBP/USD struggles around the 20 hourly EMA
2013-06-28 03:29 GMT | EUR/AUD easing below 1.4150
2013-06-28 02:58 GMT | USD/JPY prints fresh weekly highs shy of 99.00
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EURUSD :
HIGH 1.30747 LOW 1.30301 BID 1.30613 ASK 1.30618 CHANGE 0.19% TIME 08 : 16:12
https://support.fxcc.com/email/technical/28062013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: An element of resistive measure could be found at 1.3077 (R1). Clearance here would open way towards to higher target at 1.3101 (R2) and any further rise would then be limited to last resistance at 1.3124 (R3). Downwards scenario: Possible price depreciation is limited to next support barrier at 1.3042 (S1). Break here is required to enable further downtrend formation towards to lower targets at 1.3018 (S2) and 1.2993 (S3).
Resistance Levels: 1.3077, 1.3101, 1.3124
Support Levels: 1.3042, 1.3018, 1.2993
-------------------
GBPUSD :
HIGH 1.52745 LOW 1.52413 BID 1.52688 ASK 1.52695 CHANGE 0.07% TIME 08 : 16:13
https://support.fxcc.com/email/technical/28062013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: GBPUSD commenced its consolidation phase on the hourly chart today. Possibility of uptrend evolvement is seen above the next resistance at 1.5283 (R1). Violation here might increase bullish pressure and validate next intraday targets at 1.5311 (R2) and 1.5338 (R3). Downwards scenario: Risk of market depreciation is seen below the next support level at 1.5240 (S1). Clearance here would suggest next intraday targets at 1.5213 (S2) and 1.5186 (S3) in potential.
Resistance Levels: 1.5283, 1.5311, 1.5338
Support Levels: 1.5240, 1.5213, 1.5186
-------------------
USDJPY :
HIGH 99.022 LOW 98.335 BID 98.844 ASK 98.849 CHANGE 0.51% TIME 08 : 16:14
https://support.fxcc.com/email/technical/28062013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Market sentiment is improved for the bullish oriented traders however further appreciation needs to clear barrier at 99.06 (R1) to enable our interim target at 99.36 (R2) and then any further gains would be limited to last resistance at 99.67 (R3). Downwards scenario: While instrument trades above the moving averages, our short-term bias would stay positive though penetration below the support level at 98.58 (S1) might open way towards to lower targets at 98.27 (S2) and 97.97 (S3).
Resistance Levels: 99.06, 99.36, 99.67
Support Levels: 98.58, 98.27, 97.97
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jul 01 2013
China top banking regulator says enough liquidity
The Chinese top banking regulatory body appeased fears over the credit crunch in the country, saying that liquidity remains ample for the interbank needs. Regulators reassured the markets by pledging to tighten risk controls over local government, real estate and shadow banking. The chairman of the China Banking Regulatory Commission, Mr. Shang, said "excess reserves more than double amount necessary", although Shanga failed to provide further details on how they intend to reduce shadow banking practices.
https://support.fxcc.com/email/technical/01072013/
FOREX ECONOMIC CALENDAR :
2013-07-01 07:58 GMT | EMU. Markit Manufacturing PMI
2013-07-01 08:28 GMT | UK. Markit Manufacturing PMI
2013-07-01 09:00 GMT | EMU. Consumer Price Index
2013-07-01 14:00 GMT | USA. ISM Manufacturing PMI
FOREX NEWS :
2013-07-01 04:59 GMT | GBP/USD stalls the decline above 1.5200
2013-07-01 04:50 GMT | Will the big USD rally be sustainable?
2013-07-01 03:36 GMT | AUD/USD breaking above 0.9180
2013-07-01 02:17 GMT | EUR/AUD hovering above 1.4200
EURUSD :
HIGH 1.30325 LOW 1.30053 BID 1.30286 ASK 1.30289 CHANGE 0.16% TIME 08 : 40:42
https://support.fxcc.com/email/technical/01072013/EURUSD.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Without tier one macroeconomic news announcement neutral mode remains favored. Clearance of next resistance level at 1.3040 (R1) might enable bullish pressure and open route towards to our next targets at 1.3062 (R2) and 1.3084 (R3). Downwards scenario: Possible downside extension might face next supportive barrier at 1.2990 (S1). Clearance here is required to open the way towards to interim target at 1.2971 (S2) and any further price regress would then be targeting 1.2951 (S3).
Resistance Levels: 1.3040, 1.3062, 1.3084
Support Levels: 1.2990, 1.2971, 1.2951
----------------------
GBPUSD :
HIGH 1.52265 LOW 1.51953 BID 1.52248 ASK 1.52258 CHANGE 0.12% TIME 08 : 40:43
https://support.fxcc.com/email/technical/01072013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low
Upwards scenario: Descending structure on GBPUSD suggests possible correction ahead. Break above the resistance at 1.5240 (R1) would clear the way towards to higher target at 1.5271 (R2). Further price appreciation would face then final resistive measure at 1.5303 (R3) Downwards scenario: Next support level lies at 1.5187 (S1). Penetration below it might shift medium-term tone to the negative side. Our intraday targets locates at 1.5159 (S2) and 1.5130 (S3).
Resistance Levels: 1.5240, 1.5271, 1.5303
Support Levels: 1.5187, 1.5159, 1.5130
--------------------
USDJPY :
HIGH 99.54 LOW 99.176 BID 99.389 ASK 99.396 CHANGE 0.25% TIME 08 : 40:44
https://support.fxcc.com/email/technical/01072013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: USDJPY clearly determined positive bias on the medium-term perspective. Penetration above the resistive structure at 99.56 (R1) might encourage protective orders execution and drive market price towards to the next resistive means at 99.84 (R2) and 100.11 (R3). Downwards scenario: Price regress below the support level at 99.13 (S1) would increase likelihood of failing towards to the next supportive barrier at 98.85 (S2) and any further correction development would then be targeting final support at 98.58 (S3).
Resistance Levels: 99.56, 99.84, 100.11
Support Levels: 99.13, 98.85, 98.58
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jul 02 2013
AUD/USD hits lowest at 0.9158 as RBA retains dovish tone
AUD/USD has been extending its decline post the RBA rate decision, as traders disccount further rate cuts by the central bank going forward. Amid expectations that the rate would be on hold, all the focus was on the wording used by the RBA. Unfortunately for the anxious bulls, there was no surprise on the dovish tone either, with the RBA repeating the old line "the inflation outlook, as currently assessed, may provide some scope for further easing, should that be required to support demand." What is worse, the RBA stated "The Australian dollar has depreciated by around 10 per cent since early April, although it remains at a high level", which was a hint that despite the dramatic fall, the currency is still not low enough, thus market is now pricing the fact that a lower AUD may not be an impediment to reduce rates further should that be necessary.
The lowest level so far has been 0.9156, an area that converges with the sequence of lows seen on July 1 and June 24 on the hourly chart. The level is also the 61.8% fib retrac from the 0.9110 to 0.9250 relief rally. It appears as though some bids are emerging now from lows, with the rate up at 0.9170. On the upside, some offers may be clustered at 0.9175 - lows through last US session - ahead of 0.92 round number and 0.9250 - twin top today.
https://support.fxcc.com/email/technical/02072013/
FOREX ECONOMIC CALENDAR :
2013-07-02 08:30 GMT | UK. PMI Construction (Jun)
2013-07-02 09:00 GMT | EMU. PMI Construction (Jun)
2013-07-02 14:00 GMT | USA. Factory Orders (May)
2013-07-02 21:45 GMT | USA. FOMC Member Powell Speech
FOREX NEWS :
2013-07-02 04:35 GMT | AUD/USD touches 0.92 handle after RBA
2013-07-02 04:02 GMT | GBP/USD unchanged so far for the week around the 1.52 handle
2013-07-02 02:47 GMT | EUR/JPY testing 130 round bids
2013-07-02 02:46 GMT | NZD/USD, overall bearish risk not eliminated - JPMorgan
EURUSD :
HIGH 1.30708 LOW 1.30493 BID 1.30573 ASK 1.30576 CHANGE -0.03% TIME 08 : 28:32
https://support.fxcc.com/email/technical/02072013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Further buying interest might arise above the resistance at 1.3073 (R1). Clearance here would suggest next intraday target at 1.3095 (R2) and if the price holds its momentum we can expect an exposure of 1.3118 (R3). Downwards scenario: Activation of bearish forces is possible below the support level at 1.3046 (S1). Clearance here would suggest next interim target at 1.3025 (S2) and if the price holds its momentum we would suggest final aim at 1.3004 (S3).
Resistance Levels: 1.3073, 1.3095, 1.3118
Support Levels: 1.3046, 1.3025, 1.3004
-----------------------------
GBPUSD :
HIGH 1.52197 LOW 1.51935 BID 1.52082 ASK 1.52091 CHANGE -0.04% TIME 08 : 28:33
https://support.fxcc.com/email/technical/02072013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: After dipping lower today we see potential of market strengthening in near-term perspective. Next on tap is seen resistance level at 1.5224 (R1). Break here would suggest next intraday targets at 1.5248 (R2) and 1.5276 (R3). Downwards scenario: Prolonged movement below the supportive measure at 1.5183 (S1) is required to activate downtrend expansion. Next aim on the way would be mark at 1.5155 (S2) and then final target could be met at 1.5128 (S3).
Resistance Levels: 1.5224, 1.5248, 1.5276
Support Levels: 1.5183, 1.5155, 1.5128
------------------------------
USDJPY :
HIGH 99.75 LOW 99.51 BID 99.712 ASK 99.717 CHANGE 0.04% TIME 08 : 28:33
https://support.fxcc.com/email/technical/02072013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Bearish
Upwards scenario: While both moving averages are pointing up, medium-term technical outlook would be positive. Appreciation above the resistance at 99.90 (R1) would likely create bullish momentum and enable next intraday targets at 100.18 (R2) and 100.45 (R3). Downwards scenario: On the other hand, depreciation below the technically important support level at 99.47 (S1) would allow further market decline on the short-term perspective. Possible targets lies at 99.18 (S2) and 98.90 (S3).
Resistance Levels: 99.90, 100.18, 100.45
Support Levels: 99.47, 99.18, 98.90
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
revalea30
02-07-2013, 12:03
Thanks for share the post.
Forex Technical & Market Analysis FXCC Jul 03 2013
U.S. Dollar Faces its First Test
With 2 more days to go before the pivotal U.S. non-farm payrolls report, the dollar extended its gains against all of the major currencies. Milestones were reached in some pairs while others broke key levels. The sustainability of the dollar's rally has been nothing short of impressive but it should not surprise investors since the strongest moves in the FX market are the ones supported by fundamental drivers. In this case the Federal Reserve is getting ready to reduce the amount of stimulus that it provides to the economy and investors are just looking for economic data to confirm that the economy is ready for tapering. The dollar faces its first test today with a number of U.S. economic reports on the calendar that will help shape expectations for Friday's release. The day starts off with a layoff report from Challenger Grey & Christmas that will be followed by the ADP Employment Change, jobless claims and most importantly, the ISM non-manufacturing index. Earlier this week we learned that the manufacturing sector lost jobs for the first time since 2009 and now the question is whether the service sector suffered the same fate. We don't think that it did because otherwise the Fed would not have lowered its unemployment rate forecasts but there's always the risk the data could surprise to the downside. Layoffs are expected to decline and most likely ADP will report an increase in U.S. payrolls.
https://support.fxcc.com/email/technical/03072013/
FOREX ECONOMIC CALENDAR :
2013-07-03 08:28 GMT | UK. Markit Services PMI (Jun)
2013-07-03 12:15 GMT | USA. ADP Employment Change (Jun)
2013-07-03 12:30 GMT | USA. Trade Balance (May)
2013-07-03 14:00 GMT | USA. ISM Non-Manufacturing PMI (Jun)
FOREX NEWS :
2013-07-03 04:42 GMT | EUR/USD depressed below 1.30, U.S
2013-07-03 03:47 GMT | EUR/JPY unchanged in the Asia-Pacific after lots of noise
2013-07-03 03:29 GMT | GBP/JPY rises to 151.50 after bullish reversal intraday
2013-07-03 03:20 GMT | AUD/JPY dumped below 92 as RBA Stevens speak
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EURUSD :
HIGH 1.29834 LOW 1.29618 BID 1.29628 ASK 1.29633 CHANGE -0.13% TIME 08 : 39:59
https://support.fxcc.com/email/technical/03072013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Immediate resistance at 1.2989 (R1) remains in near-term focus, climb above this level might open way for a recovery action towards to next interim target at 1.3013 (R2) and any further rise would then be limited to final resistive measure at 1.3038 (R3) Downwards scenario: Medium-term descending structure might get more stimulus if the price manages to overcome next support level at 1.2954 (S1). Clearance here would suggest initial targets at 1.2923 (S2) and 1.2910 (S3).
Resistance Levels: 1.2989, 1.3013, 1.3038
Support Levels: 1.2954, 1.2923, 1.2910
------------------------
GBPUSD :
HIGH 1.51631 LOW 1.51428 BID 1.51433 ASK 1.51442 CHANGE -0.07% TIME 08 : 40:00
https://support.fxcc.com/email/technical/03072013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Market sentiment is negative according to the technical indicators. Though any prolonged movement above the resistive measure at 1.5181 (R1) would suggest next intraday targets at 1.5209 (R2) and 1.5237 (R3). Downwards scenario: Depreciation below the support level at 1.5133 (S1) would suggest next intraday target at 1.5107 (S2) and any further weakening would then be limited to final support level at 1.5080 (S3).
Resistance Levels: 1.5181, 1.5209, 1.5237
Support Levels: 1.5133, 1.5107, 1.5080
-------------------------------
USDJPY :
HIGH 100.855 LOW 100.443 BID 100.672 ASK 100.675 CHANGE 0.06% TIME 08 : 40:00
https://support.fxcc.com/email/technical/03072013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: On the upside resistive structure at 100.87 (R1) prevents further gains. Clearance here is required to open route towards to next target at 101.12 (R2) and then final target could be triggered at 101.38 (R3). Downwards scenario: Though, possibility of correction is high. Devaluation below the support at 100.42 (S1) would initiate bearish pressure. On the way our next interim support at 100.16 (S2) en route to final target at 99.91 (S3).
Resistance Levels: 100.87, 101.12, 101.38
Support Levels: 100.42, 100.16, 99.91
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jul 04 2013
EUR - Beware of the ECB
Since the last ECB meeting, we have seen more improvements than deterioration in the Eurozone economy. In Germany specifically, consumer spending has been healthy, unemployment rolls have declined, leading to an improvement in business and investor confidence. However the strength was not without areas of weakness. Businesses and investors grew more optimistic about future economic activity but more grim about current activity. Considering that the current performance of the economy is what really matters, the ECB may look beyond everyone's hope for improvement. Also stronger service sector activity in the region's largest economy was offset by a deeper contraction in manufacturing. So as you can see the recovery in the Eurozone is uneven and when combined with a 5% sell-off in the DAX, since the last meeting the ECB has very little to be optimistic about.
https://support.fxcc.com/email/technical/04072013/
FOREX ECONOMIC CALENDAR :
2013-07-04 08:00 GMT | EMU. Gross Domestic Product s.a. (YoY)
2013-07-04 11:00 GMT | UK. BoE Interest Rate Decision
2013-07-04 11:45 GMT | EMU. ECB Interest Rate Decision
2013-07-04 12:30 GMT | EMU. ECB Monetary policy statement and press conference
FOREX NEWS :
2013-07-04 05:22 GMT | EUR/USD lingers at 1.30, awaits the ECB
2013-07-04 04:59 GMT | NZD/USD flat for the session unable to overcome the 0.78 handle
2013-07-04 04:17 GMT | GBP/USD retraces into 1.5250 post bullish engulfing day
2013-07-04 03:23 GMT | AUD/USD jumps on RBA Lowe's comments
EURUSD :
HIGH 1.30233 LOW 1.29875 BID 1.29937 ASK 1.29943 CHANGE -0.12% TIME 08 : 23:05
https://support.fxcc.com/email/technical/04072013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Appreciation above the resistance at 1.3015 (R1) might commence new step of the ascending structure. Our intraday targets today are placed at 1.3035 (R2) and 1.3053 (R3). Downwards scenario: Risk of the downtrend development is seen below the support level at 1.2984 (S1). Weakening below this mark might clear the way towards to immediate supports at 1.2965 (S2) and 1.2945 (S3). ECB interest rate announcement is a key factor today.
Resistance Levels: 1.3015, 1.3035, 1.3053
Support Levels: 1.2984, 1.2965, 1.2945
--------------------------
GBPUSD :
HIGH 1.52831 LOW 1.52513 BID 1.52575 ASK 1.52583 CHANGE -0.13% TIME 08 : 23:06
https://support.fxcc.com/email/technical/04072013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Market remains relatively stable prior BOE interest rate decision, though clearance of next resistance level at 1.5293 (R1) might initiates bullish pressure. Above the local high locates our resistive means at 1.5316 (R2) and 1.5341 (R3). Downwards scenario: On the downside our focus is shifted to the next support level at 1.5238 (S1). Loss here is required to push the price towards to our next interim targets at 1.5213 (S2) en route towards to final support at 1.5186 (S3)
Resistance Levels: 1.5293, 1.5316, 1.5341
Support Levels: 1.5238, 1.5213, 1.5186
---------------------
USDJPY :
HIGH 100.091 LOW 99.692 BID 99.847 ASK 99.849 CHANGE -0.04% TIME 08 : 23:07
https://support.fxcc.com/email/technical/04072013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Possibility of price progress is seen above the next resistance level at 100.15 (R1). Breakthrough here would suggest our interim target at 100.42 (R2) and then mark at 100.70 (R3) acts as last resistive measure for today. Downwards scenario: Negative developments might be settled below the important support level at 99.63 (S1). Any price action below it would then be targeting support at 99.36 (S2) and final target could be exposed at 99.09 (S3) mark.
Resistance Levels: 100.15, 100.42, 100.70
Support Levels: 99.63, 99.36, 99.09
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jul 05 2013
EUR and GBP Crushed by ECB and BoE
Big moves are happening in the FX market yesterday. The euro and British pound dropped to 5 week lows against the U.S. dollar, taking out key levels in the process. The absence of U.S. traders most likely compounded the volatility in currencies. The European Central Bank and the Bank of England left monetary policy unchanged but Mario Draghi and Mark Carney made it clear that both central banks have a bias to ease. The dovish comments from European central bankers were motivated by the recent volatility in interest rates and a desire to set themselves apart from the Federal Reserve who is on a path to reduce stimulus. The ECB and the BoE wants everyone to know that they are still prepared to increase stimulus if the volatility in the bond markets persist or their economies weaken. In the Eurozone in particular, the EUR/USD dropped through 1.30 and 1.29. The currency started to fall as soon as Draghi said that policy will remains accommodative as long as needed, there are downside risks to their economic outlook and rates will stay low for an extended period of time. The sell-off gained momentum when the central bank took the unprecedented step of forward guidance. The ECB said there is no exit in sight, they are keeping rates low for an extended period of time, their decision will be data dependent and they are keeping an open mind on negative deposit rates. Draghi also reminded everyone that the central bank is "technically ready" for negative rates. They had an extensive discussion about the possibility of a rate cut and unanimously decided that the guidance was needed which included saying that 50bp is not the lower bound. The central bank is screaming their bias to ease from the top of the mountain - they don't want to leave any room for ambiguity because the risk could be a further rise in yields. Having dropped below 1.29, the next support for the EUR/USD should be at 1.28.
https://support.fxcc.com/email/technical/05072013/
FOREX ECONOMIC CALENDAR :
2013-07-05 10:00 GMT | Germany. Factory Orders n.s.a. (YoY)
2013-07-05 12:30 GMT | Canada. Unemployment Rate
2013-07-05 12:30 GMT | USA. Nonfarm Payrolls
2013-07-05 12:30 GMT | USA. Unemployment Rate
FOREX NEWS :
2013-07-05 04:51 GMT | EUR/GBP limited below 0.8580 asks
2013-07-05 04:46 GMT | NFP amid low liquidity; drastic moves ahead?
2013-07-05 04:22 GMT | GBP/USD hovering around 1.5050
2013-07-05 03:39 GMT | AUD/USD extends decline below 0.9130
EURUSD
HIGH 1.29166 LOW 1.28878 BID 1.28983 ASK 1.28988 CHANGE -0.12% TIME 08 : 24:40
https://support.fxcc.com/email/technical/05072013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: The possibility of an upside price progress is seen above the resistance level at 1.2931 (R1). Evaluation above this mark might initiate bullish pressure and expose medium-term interim targets at 1.2952 (R2) and 1.2974 (R3). Downwards scenario: We placed our support level right above the yesterday low at 1.2881 (S1). Clearance here is required to open way towards to our interim target at 1.2862 (S2) and then final aim locates at 1.2842 (S3).
Resistance Levels: 1.2931, 1.2952, 1.2974
Support Levels: 1.2881, 1.2862, 1.2842
-------------------------
GBPUSD :
HIGH 1.50777 LOW 1.50268 BID 1.50465 ASK 1.50478 CHANGE -0.16% TIME 08 : 24:41
https://support.fxcc.com/email/technical/05072013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Nonfarm Payrolls announcement might change overall technical structure. We see potential to overcome our next resistive barrier at 1.5090 (R1). Any prolonged movement above it would suggest next intraday targets at 1.5120 (R2) and 1.5151 (R3). Downwards scenario: Risk of price depreciation is seen below the support level at 1.5024 (S1). A fall below it might prolong medium-term weakness towards to next support at 1.4992 (S2) and any further market decline would then be targeting final support at 1.4959 (S3).
Resistance Levels: 1.5090, 1.5120, 1.5151
Support Levels: 1.5024, 1.4992, 1.4959
--------------------------
USDJPY :
HIGH 100.458 LOW 99.999 BID 100.257 ASK 100.261 CHANGE 0.22% TIME 08 : 24:42
https://support.fxcc.com/email/technical/05072013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Neutral tone dominates on the hourly chart frame. Local high offers an important resistive structure at 100.45 (R1). Any penetration above that level would suggest next targets at 100.68 (R2) and 100.90 (R3). Downwards scenario: Possible downside expansion is limited to the next support level at 100.15 (S1). Break here is required to open way towards to initial targets at 99.92 (S2) and 99.70 (S3).
Resistance Levels: 100.45, 100.68, 100.90
Support Levels: 100.15, 99.92, 99.70
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jul 08 2013
ECB members had heated clash over last rate decision
ECB Governing Council members had a confrontational approach over interest rates at their latest board meeting on Thursday, according to German weekly Der Spiegel, citing no sources, the MNI newswire reports. Der Spiegel claims to have obtained insights over the dovish views from ECB chief economist Peter Praet, who proposed to cut the benchmark interest rate by 25 bp in the last meeting, an action that ECB President Mario Draghi would have supported.
However, as MNI reports, "seven board members, mainly from northern European member states, were arguing sharply against a rate cut last week, the magazine reported." Der Spiegel reports German Bundesbank President Jens Weidmann, Dutch central bank governor Klaas Knot as well as ECB Executive Board member Joerg Asmussen, as the most notoriously opposed to it. As is well known, the final decision taken by the board was to unanimously keep the benchmark rate unchanged at 0.5% while providing forward guidance on low rates. Draghi's said that "broad-based weakness in the real economy and subdued monetary dynamics" will keep rates at present or lower levels for an extended period of time.
https://support.fxcc.com/email/technical/08072013/
FOREX ECONOMIC CALENDAR :
24h | All. Eurogroup Meeting
2013-07-08 13:30 GMT | EMU. ECB President Draghi's Speech
2013-07-08 14:30 GMT | Canada. Bank of Canada Business Outlook Survey (Q2)
2013-07-08 19:00 GMT | USA. Consumer Credit Change
FOREX NEWS :
2013-07-08 04:59 GMT | Calls to buy USD all over; time to be sellers?
2013-07-08 04:26 GMT | GBP/USD strongly capped below 1.4900
2013-07-08 03:40 GMT | Buy AUD/NZD targeting 1.2130/70 - Societe Generale
2013-07-08 03:38 GMT | AUD/CAD depressed below 0.96 round
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EURUSD :
HIGH 1.28319 LOW 1.28106 BID 1.28169 ASK 1.28173 CHANGE -0.11% TIME 08 : 30:00
https://support.fxcc.com/email/technical/08072013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Market players may prefer to stay neutral today during limited tier one macroeconomic data flow, though a break of our resistance at 1.2852 (R1) would suggest next targets at 1.2879 (R2) and 1.2905 (R3). Downwards scenario: Friday low offers a key support barrier at 1.2805 (S1). Only clear break here would be a signal of possible market easing towards to next targets at 1.2781 (S2) and 1.2757 (S3) in potential.
Resistance Levels: 1.2852, 1.2879, 1.2905
Support Levels: 1.2805, 1.2781, 1.2757
----------------------------
GBPUSD :
HIGH 1.48824 LOW 1.48582 BID 1.48765 ASK 1.48774 CHANGE -0.02% TIME 08 : 30:01
https://support.fxcc.com/email/technical/08072013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Upside risk aversion is seen above the next resistance level at 1.4923 (R1). Appreciation above it might lead would enable corrective phase, targeting resistive measures at 1.4962 (R2) and 1.4999 (R3) in potential. Downwards scenario: On the other hand, if the pair accelerates on the downside and manage to break our next support level at 1.4853 (S1), it is likely to trigger our next support level at 1.4818 (S2) and 1.4782 (S3) later on today.
Resistance Levels: 1.4923, 1.4962, 1.4999
Support Levels: 1.4853, 1.4818, 1.4782
-----------------------
USDJPY :
HIGH 101.531 LOW 101.06 BID 101.095 ASK 101.100 CHANGE -0.08% TIME 08:30:02
https://support.fxcc.com/email/technical/08072013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Uptrend evolvement remains in power. Further appreciation above the resistive barrier at 101.53 (R1) is liable to next intraday targets at 101.81 (R2) and 102.09 (R3). Downwards scenario: Possible retracement action might get more stimulus below the support level at 100.87 (S1). Loss here would suggest next intraday target at 100.58 (S2) and any weakening below it would then face final support at 100.28 (S3).
Resistance Levels: 101.53, 101.81, 102.09
Support Levels: 100.87, 100.58, 100.28
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jul 09 2013
Troika approves next disbursment to Greece
Troika officials struck a deal with Greece this Monday, allowing the debt-laden country to receive its next tranche of funds, totalling The money, totaling 6.8bn euros ($8.7bn). The troika of the European Commission, the European Central Bank and the International Monetary Fund (IMF) will be responsible to make the funds available end of the month. Eurozone finance ministers indicated earlier today that 2.5bn euros would come from the eurozone rescue fund and 1.5bn euros, while the European Central Bank will contribute with another 1.5bn euros. It is thought that an additional 500m euros from both the EZ rescue fund and the ECB will be transferred in October. The IMF will add the remaining 1.8bn euros.
The loans are subject to Greece showing a committal approach towards the country's fiscal path, with the Troika demanding further cuts and a faster implementation of its reform programme, one that has brought the country to its knees. Despite so, the Troika continues to underline the slow progress seen so far, as the country continues to struggle through an era of depression.
https://support.fxcc.com/email/technical/09072013/
FOREX ECONOMIC CALENDAR :
24h | EcoFin Meeting
2013-07-09 08:30 GMT | UK. Manufacturing Production (YoY)
2013-07-09 12:15 GMT | Canada. Housing Starts s.a (YoY)
2013-07-09 14:00 GMT | UK. NIESR GDP Estimate (3M)
FOREX NEWS :
2013-07-09 04:52 GMT | GBP/USD stalls the recovery below 1.4950
2013-07-09 04:50 GMT | EUR/USD aiming at 2nd daily gain
2013-07-09 03:09 GMT | NZD/USD back around 0.78 post-China CPI
2013-07-09 03:02 GMT | AUD/JPY setting stage for a 92.50 breakout?
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EURUSD :
HIGH 1.28711 LOW 1.2846 BID 1.28677 ASK 1.28683 CHANGE -0.01% TIME 08 : 33:00
https://support.fxcc.com/email/technical/09072013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Instrument gained momentum on the upside recently, turning short-term bias to the positive side. Next resistive structure on the way lies at 1.2892 (R1), break here would suggest next intraday targets at 1.2909 (R2) and 1.2926 (R3). Downwards scenario: Failure to establish positive bias today would shift our focus to the next support level at 1.2844 (S1). Clearance here would open way towards to our initial targets at 1.2826 (S2) and 1.2806 (S3).
Resistance Levels: 1.2892, 1.2909, 1.2926
Support Levels: 1.2844, 1.2826, 1.2806
--------------------
GBPUSD :
HIGH 1.4953 LOW 1.49199 BID 1.49434 ASK 1.49442 CHANGE -0.05% TIME 08 : 33:01
https://support.fxcc.com/email/technical/09072013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Yesterday high offers a key resistive measure at 1.4968 (R1). If the price manages to overcome it we would suggest next intraday targets at 1.4999 (R2) and 1.5029 (R3). Downwards scenario: Any downside extension is limited now to the next support level at 1.4918 (S1). Below here we see potential for the price acceleration towards to next targets at 1.4884 (S2) and 1.4851 (S3).
Resistance Levels: 1.4968, 1.4999, 1.5029
Support Levels: 1.4918, 1.4884, 1.4851
----------------------
USDJPY :
HIGH 101.243 LOW 100.768 BID 101.147 ASK 101.151 CHANGE 0.19% TIME 08 : 33:02
https://support.fxcc.com/email/technical/09072013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Measures of resistance might be activating if the pair approaches 101.41 (R1) price level. Break here would suggest next interim target at 101.70 (R2) and If the price keeps its momentum we expect an exposure of 101.97 (R3). Downwards scenario: On the other hand, break below the support at 100.76 (S1) is required to enable further market decline. Our next supportive measures locates at 100.49 (S2) and 100.21 (S3).
Resistance Levels: 101.41, 101.70, 101.97
Support Levels: 100.76, 100.49, 100.21
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jul 10 2013
S&P downgrades Italy to BBB, outlook negative
Ratings Agency Standard & Poor's decided to downgrade Italy on Tuesday, cutting the rating to BBB from BBB+. According to S&P, this action reflects their view of the effects of further weakening growth on Italy's economic structure and resilience, and its impaired monetary transmission mechanism. S&P also left their outlook at negative, meaning there is at least one-in-three chance that the rating could be lowered again in 2013 or 2014.
The highlights today will be the FOMC Minutes and Bernanke’s Speech and until then I don’t see an awful lot to move things around. The 4 hour charts are showing some minor bullish divergence and we could see the odd bounce but the dailies continue to point lower and I suspect that the low 1.2700 area will soon be tested. In the meantime leave room for bounces as the 4 hour charts unwind. We will be adding to our shorts if we see a bounce into the 1.2850/1.2900 in the coming session. German CPI, US FOMC Minutes, Wholesale Inventories, Bernanke Speech Economic data highlights will include: German CPI, US FOMC Minutes, Wholesale Inventories, Bernanke Speech
https://support.fxcc.com/email/technical/10072013/
FOREX ECONOMIC CALENDAR :
2013-07-10 17:00 GMT | USA. 10-Year Note Auction
2013-07-10 18:00 GMT | USA. FOMC Minutes
2013-07-10 20:10 GMT | USA. Fed's Bernanke Speech
N/A | Japan. Monetary Policy Statement
FOREX NEWS :
2013-07-10 05:05 GMT | USD/JPY cracks 101.80 support
2013-07-10 04:28 GMT | GBP/USD finds buyers above 1.4850
2013-07-10 03:56 GMT | EUR/USD unable to regain the 1.28 handle
2013-07-10 03:09 GMT | Gold eases below $1250; Oil below $104
EURUSD :
HIGH 1.27868 LOW 1.27648 BID 1.27823 ASK 1.27828 CHANGE 0.01% TIME 08 : 13:47
https://support.fxcc.com/email/technical/10072013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EURUSD stabilized on the hourly chart however appreciation above the next resistance at 1.2805 (R1) might be a good catalyst for a recovery action towards to next targets at 1.2833 (R2) and 1.2862 (R3). Downwards scenario: Any downside fluctuations remains for now limited to the next support level at 1.2754 (S1), only clear break here would be a signal of possible market easing towards to next targets at 1.2727 (S2) and 1.2699 (S3) in potential.
Resistance Levels: 1.2805, 1.2833, 1.2862
Support Levels: 1.2754, 1.2727, 1.2699
---------------------
GBPUSD :
HIGH 1.48973 LOW 1.48451 BID 1.48948 ASK 1.48958 CHANGE 0.2% TIME 08 : 13:48
https://support.fxcc.com/email/technical/10072013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Current price setup might suggest volatility increase in near term perspective. If the price get acceleration on the upside and manages to surpass our resistive measure at 1.4926 (R1), we would suggest next targets at 1.4972 (R2) and 1.5018 (R3). Downwards scenario: Yesterday session low provides an important supportive mark at 1.4813 (S1). Any penetration below this level would suggest next targets at 1.4767 (S2) and 1.4722 (S3) in potential.
Resistance Levels: 1.4926, 1.4972, 1.5018
Support Levels: 1.4813, 1.4767, 1.4722
---------------------
USDJPY :
HIGH 101.216 LOW 100.374 BID 100.405 ASK 100.410 CHANGE -0.74% TIME 08 : 13:49
https://support.fxcc.com/email/technical/10072013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: Upside formation is limited now to the next resistive barrier at 100.76 (R1). Clearance here is required to provide a space for a move towards to next target at 101.02 (R2) and then final aim could be found at 101.29 (R3). Downwards scenario: Further downtrend formation might get acceleration below the support level at 100.15 (S1). Loss here would suggest next intraday target at 99.87 (S2) and any weakening below it would then be limited to final support at 99.63 (S3).
Resistance Levels: 100.76, 101.02, 101.29
Support Levels: 100.15, 99.87, 99.63
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jul 12 2013
ECB Monthly Report: Interest rates could be reduced further
The ECB signalized in its July Monthly Report that interest rates could be reduced further, should the price stability outlook warrant it. The recently introduced forward guidance was also included: “The Governing Council expects the key ECB interest rates to remain at present or lower levels for an extended period of time.” There was also some clarification of its time horizon: “The extended period of time over which the Governing Council currently expects the key ECB interest rates to remain at present or lower levels is a flexible horizon which does not pre-specify an end-date but is conditional on the Governing Council’s assessment of the economic fundamentals that determine underlying inflation."
Furthermore, the Council pointed to recent improvements in Eurozone sentiment indicators which suggest a gradual recovery of the economy later this year and in 2014. To support it, the ECB is prepared to maintain the accomodative monetary policy for as long as necessary. The accomodative policy should prop up domestic demand while the recovery in global demand should boost export growth in the area. Additionally, the Governing Council suggested that “the overall improvements in financial markets seen since last summer should work their way through to the real economy, as should the progress made in fiscal consolidation.”
https://support.fxcc.com/email/technical/12072013/
FOREX ECONOMIC CALENDAR :
2013-07-12 09:00 GMT | EMU. Industrial Production w.d.a. (YoY)
2013-07-12 12:30 GMT | USA. Producer Price Index (YoY)
2013-07-12 13:55 GMT | USA. Reuters/Michigan Consumer Sentiment
2013-07-12 17:00 GMT | USA. Fed's Bullard speech
FOREX NEWS :
2013-07-12 04:44 GMT | GBP/USD eases below 1.5200
2013-07-12 03:27 GMT | Gold below $1290, Oil above $104
2013-07-12 02:41 GMT | AUD/USD defending 0.9130 support
2013-07-12 01:42 GMT | USD/JPY breaks through stops at 99.10
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EURUSD :
HIGH 1.31002 LOW 1.30728 BID 1.30752 ASK 1.30756 CHANGE -0.16% TIME 08 : 26:43
https://support.fxcc.com/email/technical/12072013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Fractals level at 1.3124 (R1) offers a key resistive measure on the downside. Break here is required to enable bearish pressure and validate next target at 1.3167 (R2). Final support for today locates at 1.3208 (R3). Downwards scenario: As long as price stays above the moving averages our medium-term outlook would be positive. Though extension lower the 1.3028 (S1) is being able to drive market price towards to initial supports at 1.2988 (S2) and 1.2945 (S3).
Resistance Levels: 1.3124, 1.3167, 1.3208
Support Levels: 1.3028, 1.2988, 1.2945
------------------------
GBPUSD :
HIGH 1.5189 LOW 1.51666 BID 1.51702 ASK 1.51710 CHANGE -0.09% TIME 08 : 26:44
https://support.fxcc.com/email/technical/12072013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: We are not expecting significant volatility increase today however appreciation above the resistive structure at 1.5222 (R1) might trigger bullish pressure and drive market price towards to next targets at 1.5250 (R2) and 1.5278 (R3). Downwards scenario: Next supportive mark locates at 1.5145 (S1). Depreciation below it might shift short-term tendency to the bearish side and validate our next targets at 1.5117 (S2) and 1.5088 (S3).
Resistance Levels: 1.5222, 1.5250, 1.5278
Support Levels: 1.5145, 1.5117, 1.5088
-------------------
USDJPY :
HIGH 99.321 LOW 98.675 BID 99.048 ASK 99.048 CHANGE 0.11% TIME 08 : 26:45
https://support.fxcc.com/email/technical/12072013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: USDJPY trapped to the consolidation phase after the initial downtrend formation. Break of resistive level at 99.36 (R1) is required to enable recovery action. Our intraday targets are placed at 99.68 (R2) and 99.98 (R3). Downwards scenario: Though medium-term perspective remains negative for US Dollar. Next on tap is seen support level at 98.67 (S1), clearance here is required to enable lower targets at 98.36 (S2) and 98.06 (S3)
Resistance Levels: 99.36, 99.68, 99.98
Support Levels: 98.67, 98.36, 98.06
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jul 15 2013
Fitch downgrades France to AA+ from AAA
Fitch Ratings has downgraded France to AA+ from AAA on Friday, keeping a stable outlook on the country's debt. Fitch, which joins S&P and Moody's in removing the country's AAA rating, cited the high level of the French government indebtedness as one of the main reasons of the downgrade. Fitch expects France's general government debt to peak at 96% of GDP in 2014 and decline only gradually over the long term, remaining at 92% in 2017. "The only 'AAA' country with a higher debt ratio is the U.S. (AAA/negative), which has exceptional financing flexibility and debt tolerance afforded by the preeminent global reserve currency status of the U.S. dollar," Fitch said in a statement.
Standard & Poor's has affirmed on Friday Germany's top triple-A sovereign credit rating, with a stable outlook. The rating agency justified its decision saying that “Germany has a highly diversified and competitive economy with a demonstrated ability to absorb large economic and financial shocks.” As far as the outlook on the long-term rating is concerned, S&P's decision to keep it 'stable' reflects their view that: “Germany's public finances and strong external balance sheet will continue to withstand potential financial and economic shocks.”
https://support.fxcc.com/email/technical/15072013/
FOREX ECONOMIC CALENDAR :
2013-07-15 07:15 GMT | Switzerland. Producer and Import Prices (YoY)
2013-07-15 12:00 GMT | USA. Fed's Tarullo speech
2013-07-15 12:30 GMT | USA. Retail Sales (MoM)
2013-07-15 22:45 GMT | New Zeland. Consumer Price Index (YoY)
FOREX NEWS :
2013-07-15 04:56 GMT | GBP/USD treading water above 1.5100
2013-07-15 03:49 GMT | AUD/USD exposed to 0.80/0.85 fall - RBS
2013-07-15 03:35 GMT | EUR/USD, 1.2930-80 key to technical outlook - BBH
2013-07-15 02:39 GMT | USD/JPY flat above 99.00 with Tokyo closed
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EURUSD :
HIGH 1.3079 LOW 1.30513 BID 1.30773 ASK 1.30773 CHANGE 0.08% TIME 08:00:33
https://support.fxcc.com/email/technical/15072013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: With limited economic data flow today we expect further neutral tone development. However, price strengthening is possible above the next resistance level at 1.3092 (R1). Our interim target holds at 1.3124 (R2) en route to our final aim for today at 1.3157 (R3). Downwards scenario: Current price pattern suggests bearish potential if the pair manages to overcome next support level at 1.3044 (S1). Possible price regress could expose our initial targets at 1.3008 (S2) and 1.2974 (S3) later on today.
Resistance Levels: 1.3092, 1.3124, 1.3157
Support Levels: 1.3044, 1.3008, 1.2974
----------------------
GBPUSD :
HIGH 1.51287 LOW 1.5098 BID 1.51257 ASK 1.51268 CHANGE 0.13% TIME 08:00:33
https://support.fxcc.com/email/technical/15072013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low
Upwards scenario: GBPUSD is approaching our next resistive barrier at 1.5141 (R1). Break here is required to prolong upside pressure and trigger our intraday targets at 1.5173(R2) and 1.5203 (R3) later on today. Downwards scenario: As long as price stays below the next resistance level our technical outlook would be negative. Next on tap is support level at 1.5088 (S1). Penetration below this mark would suggest next targets at 1.5059 (S2) and 1.5028 (S3).
Resistance Levels: 1.5141, 1.5173, 1.5203
Support Levels: 1.5088, 1.5059, 1.5028
----------------------
USDJPY :
HIGH 99.383 LOW 99.074 BID 99.271 ASK 99.272 CHANGE 0.06% TIME 08:00:34
https://support.fxcc.com/email/technical/15072013/USDJPY.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: On the upside potential is seen for a break above the resistance at 99.46 (R1). In such case we would suggest next target at 99.68 (R2) and any further rise would then be limited to final resistance at 99.90 (R3). Downwards scenario: On the other hand, loss of our support level at 99.03 (S1) would open road for a market decline towards to our next target at 98.83 (S2). Any further price weakening would then be limited to final support for today at 98.61 (S3).
Resistance Levels: 99.46, 99.68, 99.90
Support Levels: 99.03, 98.83, 98.61
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jul 16 2013
Dovish ECB, soft US retail sales balance each other out. Waiting on Bernanke – again!
Dovish talk from the ECB undermined the Euro before the softer than expected US Retail Sales turned things around, sending the US dollar slightly lower. Markets are likely to be on hold ahead of Bernanke’s testimony to Congress although equities and commodities both looks solid in the short term. A mix of data out of the EU and the US could make it a bit choppy later in the day. Before then, the RBA Minutes will be Asia’s focus.
The Euro has had a choppy but mostly uninteresting session, hanging close to 1.3000 as the northern hemisphere summer doldrums look to be well upon us. Early dovish comments from the ECB’s Hansson, indicating that there is room to cut rates further and that negative interest rates should not be ruled out helped push the Euro lower early in the session, before a bit of a turnaround following the softer than expected US retail Sales, that saw the dollar come under some pressure of its own. Fitch downgraded the EFSF – European Financial Stability Facility- to AA+ from AAA, which, following on from the recent France downgrade, had precisely no effect on the Euro at all.
https://support.fxcc.com/email/technical/16072013/
FOREX ECONOMIC CALENDAR :
N/A | UK. BOE Inflation Letter
2013-07-16 08:30 GMT | UK. Consumer Price Index (YoY)
2013-07-16 09:00 GMT | EMU. Consumer Price Index (YoY
2013-07-16 12:30 GMT | USA. Consumer Price Index (YoY)
FOREX NEWS :
2013-07-16 04:46 GMT | GBP/USD stable above 1.51 ahead of UK&US CPI's
2013-07-16 04:25 GMT | EUR/USD pressing against 1.3080
2013-07-16 03:10 GMT | NZD/USD seen at 0.78 year end - BNZ
2013-07-16 02:07 GMT | AUD/USD targets 0.9188, dip buyers on the rise
-------------------------
EURUSD :
HIGH 1.30758 LOW 1.30527 BID 1.30716 ASK 1.30722 CHANGE 0.07% TIME 08 : 21:26
https://support.fxcc.com/email/technical/16072013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Next barrier on the upside lie at 1.3092 (R1). Surpassing of this level might enable our initial target at 1.3132 (R2) and any further gains would then be limited to last resistive structure at 1.3171 (R3). Downwards scenario: On the other hand, clearance of our support at 1.3049 (S1) is required to determine negative intraday bias and enable lower target at 1.3010 (S2) and then any further market depreciation would suggest final support at 1.2969 (S3).
Resistance Levels: 1.3092, 1.3132, 1.3171
Support Levels: 1.3049, 1.3010, 1.2969
--------------------
GBPUSD :
HIGH 1.51167 LOW 1.50909 BID 1.51066 ASK 1.51078 CHANGE 0.06% TIME 08 : 21:27
https://support.fxcc.com/email/technical/16072013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: Neutral channel formation remains favored pattern on the hourly chart frame. Possible clearance of our next resistive barrier at 1.5132 (R1) would suggest next intraday targets at 1.5173 (R2) and 1.5216 (R3) in potential. Downwards scenario: Possible downside expansion is protected by support level at 1.5086 (S1), break here would put bullish oriented traders on hold. Marks at 1.5046 (S2) and 1.5004 (S3) acts as our initial targets today.
Resistance Levels: 1.5132, 1.5173, 1.5216
Support Levels: 1.5086, 1.5046, 1.5004
-------------------
USDJPY :
HIGH 100.068 LOW 99.647 BID 99.805 ASK 99.807 CHANGE -0.03% TIME 08 : 21:27
https://support.fxcc.com/email/technical/16072013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: USDJPY resumed its consolidation phase yesterday and we see potential for further appreciation towards to our targets at 100.33 (R2) and 100.60 (R3) if the price manages to overcome key resistance measure at 100.06 (R1). Downwards scenario: On the downside our attention is shifted to the immediate support level at 99.62 (S1). Break here is required to enable bearish forces and expose our intraday targets at 99.35 (S2) and 99.06 (S3).
Resistance Levels: 100.06, 100.33, 100.60
Support Levels: 99.62, 99.35, 99.06
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jul 18 2013
Fed's Bernanke: Asset purchases not 'on a preset course'
According to the prepared text of Chairman Ben Bernanke's speech, to be delivered later today during his Semiannual Monetary Policy Report to the Congress, the pace of the Federal Reserve's bond purchases is not 'on a preset course', as it depends on the current economic and financial situation. The Fed head assured that signs of recovery are visible in the US labor market, but that “the jobs situation is far from satisfactory, as the unemployment rate remains well above its longer-run normal level.” He also pointed out that inflation is still below the Fed's 2% target. That is why “a highly accommodative monetary policy will remain appropriate for the foreseeable future.”
As far as QE is concerned, Bernanke stressed that the decision on when the tapering should begin depends on the Fed's assessment of the US economic outlook. Should economic data improve earlier than forecasted and inflation rise towards the objective, a reduction could be carried out sooner. Otherwise, “the current pace of purchases could be maintained for longer.” According to Rob Carnell from ING: ”This speech neither contradicts nor supports the notion that the taper begins in September. The taper might begin then. But as we have written elsewhere, there are quite good reasons why it may occur somewhat later. Not that it really matters all that much anyway – given that the Fed funds decision is one that will be taken independently from QE.”
https://support.fxcc.com/email/technical/18072013/
FOREX ECONOMIC CALENDAR :
2013-07-18 08:30 GMT | UK Retail Sales (YoY)
2013-07-18 12:30 GMT | US Initial Jobless Claims
2013-07-18 14:00 GMT | US Fed's Bernanke Speech
2013-07-18 23:50 GMT | Japan. Foreign bond investment
FOREX NEWS :
2013-07-18 04:52 GMT | GBP/USD breaks below 1.52 ahead of UK retail sales
2013-07-18 04:31 GMT | USD/JPY above 100 again ahead of Sunday's elections
2013-07-18 04:20 GMT | EUR/USD breaks 1.32, needs to clear 1.3180
2013-07-18 04:04 GMT | AUD/USD trips stop losses below 0.9170
EURUSD :
HIGH 1.31271 LOW 1.3091 BID 1.30962 ASK 1.30968 CHANGE -0.22% TIME 08 : 24:12
https://support.fxcc.com/email/technical/18072013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EURUSD stabilized on the hourly timeframe. Potential to move higher is seen above the next resistance level at 1.3147 (R1). Loss here would suggest next intraday targets at 1.3179 (R2) and 1.3210 (R3). Downwards scenario: Possible downside extension might face next supportive barrier at 1.3081 (S1). Clearance here is required to open the way towards to interim target at 1.3050 (S2) and any further price regress would then be targeting 1.3019 (S3).
Resistance Levels: 1.3147, 1.3179, 1.3210
Support Levels: 1.3081, 1.3050, 1.3019
--------------------
GBPUSD :
HIGH 1.52232 LOW 1.51728 BID 1.51789 ASK 1.51799 CHANGE -0.21% TIME 08 : 24:12
https://support.fxcc.com/email/technical/18072013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: GBPUSD is approaching our next resistance level at 1.5223 (R1), keeping the ascending structure intact. The break here is required for the price appreciation towards to next target at 1.5252 (R2) and any further rise would then be targeting to 1.5281 (R3). Downwards scenario: On the downside next supportive bastion lies at 1.5152 (S1). Prolonged movement below it might then expose our intraday targets at 1.5124 (S2) and 1.5095 (S3).
Resistance Levels: 1.5223, 1.5252, 1.5281
Support Levels: 1.5152, 1.5124, 1.5095
------------------
USDJPY :
HIGH 100.18 LOW 99.463 BID 100.085 ASK 100.088 CHANGE 0.53% TIME 08 : 24:13
https://support.fxcc.com/email/technical/18072013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Our next resistance level is placed at 100.22 (R1). Clearance here is required to resume uptrend structure towards to next target at 100.41 (R2) and any further price appreciation would then be limited to 100.61 (R3) mark. Downwards scenario: While instrument trades above the moving averages, our short-term bias would stay positive though penetration below the support level at 99.84 (S1) might open way towards to lower targets at 99.64 (S2) and 99.44 (S3).
Resistance Levels: 100.22, 100.41, 100.61
Support Levels: 99.84, 99.64, 99.44
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jul 19 2013
Bernanke: Too early to say when tapering will start
Federal Reserve Chairman Ben Bernanke testified before the Congress for a second day on Thursday. While the introductory statement remained unchanged, investors didn't get new insights from the Q&A session before the Senate Banking Committee. When asked about the time the Fed will scale back its monthly bond-buying programme, he said "it's way too early to make any judgment" as the Fed wants to see sustainable improvement in labor markets. Bernanke also said he has broad support for his policy outlook through the Fed leadership. "We've not changed policy. We are not talking about tightening monetary policy", Bernanke said. He added that none of what the Fed has communicated about winding down its bond purchases implies tighter policy in the foreseeable future. Among other remarks, Bernanke said he doesn't see risks to financial stability from student debt, though he said it could have negative economic consequences in the long-term. "It is not particularly likely to cause any sharp instability of the sort we saw in the last few years", Bernanke said Thursday.
https://support.fxcc.com/email/technical/19072013
FOREX ECONOMIC CALENDAR :
24h | All. G20 Meeting
2013-07-19 06:00 GMT | Germany. Producer Price Index (YoY)
2013-07-19 08:30 GMT | UK. Public Sector Net Borrowing
2013-07-19 12:30 GMT | Canada. Consumer Price Index (YoY)
FOREX NEWS :
2013-07-19 04:48 GMT | GBP/USD surge capped below 1.5250
2013-07-19 04:08 GMT | EUR/USD knocking on the door of short-term break above 1.3205
2013-07-19 03:13 GMT | USD/JPY touches the 100 handle on Yen strength
2013-07-19 02:55 GMT | AUD/USD supported on broad USD weakness
---------------
EURUSD :
HIGH 1.31503 LOW 1.30891 BID 1.31386 ASK 1.31391 CHANGE 0.23% TIME 08 : 26:35
https://support.fxcc.com/email/technical/19072013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Fresh high offers a key resistive barrier at 1.3151 (R1). Subsequently loss here might create upside momentum and drive market price towards to our initial targets at 1.3179 (R2) and 1.3204 (R3) in potential. Downwards scenario: Activation of bearish forces is possible below the support level at 1.3112 (S1). Clearance here would suggest next interim target at 1.3086 (S2) and if the price holds its momentum we would suggest final aim at 1.3060 (S3).
Resistance Levels: 1.3151, 1.3179, 1.3204
Support Levels: 1.3112, 1.3086, 1.3060
----------------------
GBPUSD :
HIGH 1.52504 LOW 1.51963 BID 1.52323 ASK 1.52327 CHANGE 0.05% TIME 08 : 26:36
https://support.fxcc.com/email/technical/19072013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Medium term bias remains positive however further market strengthening is required to clear resistive barrier at 1.5252 (R1). Next visible resistances are seen at 1.5281 (R2) and 1.5311 (R3). Downwards scenario: On the other hand, retracement formation might occur below the immediate support level at 1.5194 (S1). Clearance here would enable our next intraday targets at 1.5162(S2) and 1.5130 (S3).
Resistance Levels: 1.5252, 1.5281, 1.5311
Support Levels: 1.5194, 1.5162, 1.5130
------------------------
USDJPY :
HIGH 100.866 LOW 99.809 BID 100.063 ASK 100.068 CHANGE -0.36% TIME 08 : 26:36
https://support.fxcc.com/email/technical/19072013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Possibility of upwards action is seen above the next resistance level at 100.22 (R1). Clearance here is required to let the price achieve our higher intraday targets at 100.41 (R2) and 100.61 (R3). Downwards scenario: On the other side, bearish market sentiment could be created if the price manages to overcome our next support level at 99.80 (S1). A violation here might call for a run towards to lower targets at 99.62 (S2) and 99.43 (S3).
Resistance Levels: 100.22, 100.41, 100.61
Support Levels: 99.80, 99.62, 99.43
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jul 22 2013
Portugal's president backs coalition government
Portugal president Aníbal Cavaco Silva on Sunday supported the current coalition government, saying they should stay till end of the term, ending weeks of political crisis in the country, which had led international actors to even threaten the country's €78 billion international bailout. "As the national salvation compromise was impossible to achieve, I consider that the best alternative solution is for the present government to remain in its functions, with reinforced guarantees of cohesion and solidity of the coalition, until the end of its term (in 2015)" Mr. Cavaco said. Further headlines were provided by Bloomberg, with Cavaco saying he "laments talks on ‘National salvation’ agreement failed to produce results", and that "agreement will eventually be imposed by reality in future."
Session in the Asia-Pacific to start the week opened with an early move higher in Yen that soon corrected to break even before Tokyo started trading, but then as soon as traders hit the floor the Yen rose again to as high as 99.57 of the USD/JPY pair. The Yen move became in broad USD weakness following Japan PM Abe's upper house win, taking EUR/USD to session highs at 1.3170, AUD/USD to 0.9228, and Cable to 1.5298. Nikkei index opened in the 14750 region but soon eased to break even shy of 14600. Gold and Silver broke higher above key $1300 resistance in case of Gold, while Oil remained above the $108 handle. Local share markets traded mixed with China mainland and Japan in the negative, while Australia and Korea still in the positive.
https://support.fxcc.com/email/technical/22072013/
FOREX ECONOMIC CALENDAR :
2013-07-22 07:00 GMT | Stitzerland. Monthly Statistical Bulletin (Jul)
2013-07-22 12:30 GMT | USA. Chicago Fed National Activity Index (Jun)
2013-07-22 14:00 GMT | USA. Existing Home Sales Change (Jun)
2013-07-22 15:30 GMT | USA. 6-Month Bill Auction
FOREX NEWS :
2013-07-22 04:53 GMT | AUD/USD, 0.93 to mark a cap in the recovery - BBH
2013-07-22 04:47 GMT | GBP/USD capped below 1.53 ahead of London
2013-07-22 04:45 GMT | AUD/JPY to peak at 94.00 in September - NAB
2013-07-22 04:33 GMT | EUR/USD holding gains above 1.3150
EURUSD :
HIGH 1.31694 LOW 1.31329 BID 1.31529 ASK 1.31534 CHANGE 0.09% TIME 08 : 19:28
https://support.fxcc.com/email/technical/22072013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Apparently market sentiment is positive for the EURUSD as both moving averages are pointing up. Clearance of our resistance at 1.3178 (R1) would clear the way for an upside penetration towards to next visible targets at 1.3201 (R2) and 1.3224 (R3). Downwards scenario: Prolonged movement below the supportive measure at 1.3130 (S1) is required to activate downtrend expansion. Next aim on the way would be mark at 1.3105 (S2) and then final target could be met at 1.3081 (S3).
Resistance Levels: 1.3178, 1.3201, 1.3224
Support Levels: 1.3130, 1.3105, 1.3081
----------------------
GBPUSD :
HIGH 1.52971 LOW 1.52577 BID 1.52831 ASK 1.52842 CHANGE 0.13% TIME 08 : 19:29
https://support.fxcc.com/email/technical/22072013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low
Upwards scenario: Further uptrend development is limited now to the next resistive measure at 1.5311 (R1). Clearance here is required to enable our interim target at 1.5341 (R2) en route to final aim at 1.5372 (R3). Downwards scenario: On the other hand, depreciation below the technically important support level at 1.5246 (S1) might lead to the correction formation on the short-term perspective. Possible targets lies at 1.5213 (S2) and 1.5182 (S3).
Resistance Levels: 1.5311, 1.5341, 1.5372
Support Levels: 1.5246, 1.5213, 1.5182
---------------------------
USDJPY :
HIGH 100.62 LOW 99.608 BID 100.041 ASK 100.044 CHANGE -0.6% TIME 08 : 19:29
https://support.fxcc.com/email/technical/22072013/USDJPY.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: Possibility of market strengthening is seen above the resistance level at 100.18 (R1). Clearance here is required to validate next interim target at 100.36 (R2) and any further rise would then be targeting mark at 100.55 (R3). Downwards scenario: On the downside, support level at 99.80 (S1) limits possible downtrend expansion. Break here is required to enable lower target at 99.63 (S2) en route to final aim at 99.45 (S3).
Resistance Levels: 100.18, 100.36, 100.55
Support Levels: 99.80, 99.63, 99.45
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jul 23 2013
Bank of Japan stands ready to inject further stimulus
The Bank of Japan is prepared to provide further easing to the economy should signs fail to emerge about an economic recovery, including an inflation mandate of 2% in the short-run. According to BoJ board member Takehiro Sato, more stimulus is a real possibility if the economy's recovery is threatened, naming a few risks such as slower-than-expected growth in China. "A high degree of uncertainty remains concerning the global economy, and I see risks to the economic outlook as somewhat tilted to the downside," Sato said.
"The BOJ does not exclude the implementation of additional measures and will not hesitate to fine-tune its policies flexibly when unexpected tail risks materialise," Sato added in a speech to business leaders in Fukushima, northeastern Japan. Sato also said the 2% inflation should be seen as a flexible target, subject to change in the 2-year projections, a timeframe which had been repeatedly mentioned by BOJ governor Haruhiko Kuroda in past meetings. "If the inflation rate is projected to stabilise within a certain range, with the median being 2 per cent price growth, the main objective of the bank's policy will have been fulfilled," Sato said. Mr Sato, an economist who joined the BOJ board last year, was nonetheless more optimistic about japan’s economy from a year earlier, saying a recovery was "coming into view", presenting a "window of opportunity" to overcome deflation.
https://support.fxcc.com/email/technical/23072013/
FOREX ECONOMIC CALENDAR :
2013-07-23 08:30 GMT | UK. BBA Mortgage Approvals
2013-07-23 12:30 GMT | Canada. Retail Sales
2013-07-23 13:00 GMT | USA. Housing Price Index
2013-07-23 14:00 GMT | EMU. Consumer Confidence
FOREX NEWS :
2013-07-23 03:27 GMT | EUR/JPY back around 131.50 on Euro strength
2013-07-23 02:55 GMT | AUD/USD struggling above 0.9280 highs
2013-07-23 02:42 GMT | GBP/USD conquers 1.5304 resistance – now targeting key level at 1.5432
2013-07-23 02:16 GMT | EUR/USD faces risk for extension into 1.20/1.18 - JPMorgan
--------------------
EURUSD :
HIGH 1.32072 LOW 1.31827 BID 1.31970 ASK 1.31975 CHANGE 0.09% TIME 08 : 37:12
https://support.fxcc.com/email/technical/23072013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Yesterday high at 1.3217 (R1) limits further uptrend establishment. Break here is required to enable next interim target at 1.3243 (R2) en route towards to final aim for today at 1.3268 (R3). Downwards scenario: Depreciation below the support level at 1.3177 (S1) would suggest next intraday target at 1.3152 (S2) and any further weakening would then be limited to final support level at 1.3126 (S3).
Resistance Levels: 1.3217, 1.3243, 1.3268
Support Levels: 1.3177, 1.3152, 1.3126
-----------------
GBPUSD :
HIGH 1.53767 LOW 1.53548 BID 1.53667 ASK 1.53673 CHANGE 0.05% TIME 08 : 37:13
https://support.fxcc.com/email/technical/23072013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Fractal level at 1.5385 (R1) offers next resistive barrier. Penetration above that mark might trigger upside pressure and expose our next resistive mean at 1.5415 (R2) en route towards to final target for today at 1.5445 (R3). Downwards scenario: Though, possibility of correction is high. Price devaluation below the support at 1.5345 (S1) would initiate bearish pressure. On the way our next interim support at 1.5315 (S2) en route to final target at 1.5285 (S3).
Resistance Levels: 1.5385, 1.5415, 1.5445
Support Levels: 1.5345, 1.5315, 1.5285
--------------------
USDJPY :
HIGH 99.68 LOW 99.143 BID 99.465 ASK 99.467 CHANGE -0.2% TIME 08 : 37:13
https://support.fxcc.com/email/technical/23072013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: USDJPY remains under the consolidation mode after the initial uptrend formation. Strengthening above the next resistive structure at 99.70 (R1) might activate medium-term bullish pressure and expose our intraday targets at 99.86 (R2) and 100.02 (R3). Downwards scenario: Further downside expansion might face next hurdle at 99.28 (S1). Break here is liable to initiate stronger bearish pressure and validate our immediate targets at 99.13 (S2) and 98.98 (S3) in potential.
Resistance Levels: 99.70, 99.86, 100.02
Support Levels: 99.28, 99.13, 98.98
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jul 24 2013
China sets 7% growth as bottom line, eyes fresh stimulus
Chinese Premier Li Keqiang provided a juicy headline during Tuesday, suggesting the country may have to rethink its 'non-stimulatory' monetary policies should the economic growth fall below 7%, according to local media reports. Mr Li said that 7% is seen as the 'bottom line', and if target not met, there will be other options on the table as the government cannot afford the growth rate to deteriorate further, Xinhua News Agency reported. According to Beijing News, Mr. Li added: "As long as the economic growth rate, employment and other indicators don't slip below our lower limit and inflation doesn't exceed our upper limit we'll focus on restructuring and pushing reforms." As Ambrose Evans-Pritchard from the Telegraph notes: "Mr Li's comments suggest a major shift in policy by Beijing, which has deliberately engineered a slow-down over recent months by squeezing credit. The government has been rattled by upheavals in the interbank market and has begun to heed warnings that the crackdown has gone too far."
https://support.fxcc.com/email/technical/24072013/
FOREX ECONOMIC CALENDAR :
2013-07-24 07:58 GMT | EMU. Markit Manufacturing PMI
2013-07-24 12:58 GMT | USA. Markit Manufacturing PMI
2013-07-24 14:00 GMT | USA. New Home Sales
2013-07-24 21:00 GMT | New Zeland. RBNZ Interest Rate Decision
FOREX NEWS :
2013-07-24 05:02 GMT | EUR/GBP shuffling sideways after Tuesday’s bounce ahead of Euro-data
2013-07-24 04:25 GMT | AUD/USD, 0.8870/0.8770 next important target - JPMorgan
2013-07-24 04:11 GMT | GBP/USD slips after Chinese data. Overbought correction starting?
2013-07-24 03:07 GMT | USD/JPY proving 99.50 as strong support
EURUSD :
HIGH 1.32267 LOW 1.31986 BID 1.32055 ASK 1.32060 CHANGE -0.14% TIME 08 : 39:11
https://support.fxcc.com/email/technical/24072013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Despite the price is tested negative territory today further market strengthening is possible. Clearance of our next resistance level at 1.3230 (R1) would suggest next initial targets at 1.3248 (R2) and 1.3264 (R3). Downwards scenario: On the downside we put our attention to the next support level at 1.3197 (S1). Loss here is required to push the price towards to our next interim targets at 1.3180 (S2) en route towards to final support at 1.3162 (S3)
Resistance Levels: 1.3230, 1.3248, 1.3264
Support Levels: 1.3197, 1.3180, 1.3162
---------------------
GBPUSD :
HIGH 1.53782 LOW 1.5352 BID 1.53581 ASK 1.53585 CHANGE -0.07% TIME 08 : 39:11
https://support.fxcc.com/email/technical/24072013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Volatility increase on the upside is required to push the price through key resistive measure at 1.5385 (R1). In such scenario we would suggest next targets at 1.5406 (R2) and 1.5427 (R3). Downwards scenario: Negative developments might be settled below the important support level at 1.5345 (S1). Any price action below it would then be targeting support level at 1.5326 (S2) and then final target could be exposed at 1.5305 (S3).
Resistance Levels: 1.5385, 1.5406, 1.5427
Support Levels: 1.5345, 1.5326, 1.5305
----------------
USDJPY :
HIGH 99.8 LOW 99.384 BID 99.711 ASK 99.713 CHANGE 0.3% TIME 08 : 39:12
https://support.fxcc.com/email/technical/24072013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Immediate resistance at 99.81 (R1) remains in near-term focus, climb above this level might open way for a recovery action towards to next interim target at 99.93 (R2) and any further rise would then be limited to final resistive measure at 100.06 (R3) Downwards scenario: Clearance of our next support level at 99.59 (S1) is required to enable further trend evolvement on a slightly longer term perspective. Our support levels locates today at 99.46 (S2) and 99.33 (S3).
Resistance Levels: 99.81, 99.93, 100.06
Support Levels: 99.59, 99.46, 99.33
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jul 25 2013
Greece one step away from bailout payment
According to the German finance ministry, Greece has completed 21 out of the 22 measures required by the international lenders in exchange for the next bailout payment. The country still has to implement the “mobility scheme” which involves a transfer or dismissal of 12,500 public workers within a year. The measure is expected to be fulfilled until tomorrow. Ryan Littlestone from ForexLive believes that the Troika will finally approve the next bailout payment for Greece, despite the impediments: “Seeing as they've never backed down from hand over cash to Greece there's little chance of this episode failing.”
https://support.fxcc.com/email/technical/25072013/
FOREX ECONOMIC CALENDAR :
2013-07-25 08:30 GMT | UK. Gross Domestic Product (YoY)
2013-07-25 12:30 GMT | USA. Durable Goods Orders (Jun)
2013-07-25 12:30 GMT | USA. Initial Jobless Claims
2013-07-25 23:30 GMT | Japan. National Consumer Price Index (YoY)
FOREX NEWS :
2013-07-25 04:53 GMT | EUR/USD rally paused for a day. More upside to come or is correction just starting?
2013-07-25 04:45 GMT | USD/CAD eyes 1.0660 as next target - JPMorgan
2013-07-25 04:30 GMT | GBP/USD holds above 1.53 ahead of UK GDP
2013-07-25 02:57 GMT | USD/JPY slipping Thursday after a bounce on Wednesday; major resistance looms
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EURUSD :
HIGH 1.3221 LOW 1.31877 BID 1.32137 ASK 1.32140 CHANGE 0.1% TIME 08 : 32:34
https://support.fxcc.com/email/technical/25072013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Recent price acceleration on the upside suggests short-term positive bias. Possible penetration above the resistance level at 1.3230 (R1) is liable to open way towards to our initial targets at 1.3248 (R2) and 1.3264 (R3). Downwards scenario: Risk of price depreciation is seen below the support level at 1.3197 (S1). A fall below it might prolong medium-term weakness towards to next support at 1.3180 (S2) and any further market decline would then be targeting final support at 1.3162 (S3).
Resistance Levels: 1.3230, 1.3248, 1.3264
Support Levels: 1.3197, 1.3180, 1.3162
----------------------
GBPUSD :
HIGH 1.53442 LOW 1.5305 BID 1.53378 ASK 1.53387 CHANGE 0.17% TIME 08 : 32:35
https://support.fxcc.com/email/technical/25072013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: A violation of next resistance at 1.5352 (R1) might call for a run towards to next target at 1.5375 (R2) and any further appreciation would then be limited to final target at 1.5397 (R3). Downwards scenario: Possible downside expansion is limited to the next support level at 1.5324 (S1). Break here is required to open way towards to initial targets at 1.5301 (S2) and 1.5278 (S3).
Resistance Levels: 1.5352, 1.5375, 1.5397
Support Levels: 1.5324, 1.5301, 1.5278
----------------------
USDJPY :
HIGH 100.456 LOW 99.876 BID 99.972 ASK 99.974 CHANGE -0.27% TIME 08 : 32:36
https://support.fxcc.com/email/technical/25072013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Possible upwards formation is limited to resistive measure at 100.06 (R1). A break above it would suggest next intraday target at 100.18 (R2) and if the price holds its momentum we can expect price increase towards to final resistance at 100.30 (R3). Downwards scenario: In order to prolong downside extension, USDJPY should successfully retest our support level at 99.86 (S1). Below it locates our intraday targets at 99.74 (S2) and 99.62 (S3).
Resistance Levels: 100.06, 100.18, 100.30
Support Levels: 99.86, 99.74, 99.62
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jul 26 2013
What does Japan CPI rise mean for the BoJ?
In a clear sign of temporary victory by 'Abenomics' radical policies, Japan printed the sharpest rise in core inflation in almost 5 years, with the read out at +0.4% y/y vs 0.3% exp. The rest of indicators were also encouraging. ne of the top priorities by Japan is to end a 15-year deflation cycle, so that the country can start to develop a self-sustaining recovery. In large part, this is the main reason behind the radical ultra-loose monetary policy being currently deployed by the BoJ, which has committed to double the amount the central bank purchases in Japanese government debt. The country will continue to actively assess how these increases in price pressure - still minimal - are having an impact on the mindset of the population, potentially leading to support more credit, spending and rise in salaries. However, as IFR Markets Editor Amanda Tan notes, "a planned sales tax hike in April next year - from 5% to 8% - poses a downside risk to spending & sentiment, particularly if wages don't start to rise."
https://support.fxcc.com/email/technical/26072013/
FOREX ECONOMIC CALENDAR :
2013-07-26 06:00 GMT | Germany. Import Price Index
2013-07-26 06:00 GMT | UK. Nationwide Housing Prices n.s.a
2013-07-26 13:55 GMT | USA. Reuters/Michigan Consumer Sentiment Index
FOREX NEWS :
2013-07-26 04:58 GMT | EUR/GBP lurking below Fibonacci resistance at 0.8631 and 0.8646 ahead of data
2013-07-26 04:28 GMT | GBP/USD pares all loses post-UK GDP dump
2013-07-26 02:46 GMT | EUR/USD higher on the back of broad USD weakness
2013-07-26 02:43 GMT | USD/JPY breaking lower, lowest at 98.70
----------------------------
EURUSD :
HIGH 1.32889 LOW 1.32687 BID 1.32787 ASK 1.32790 CHANGE 0.02% TIME 08 : 36:57
https://support.fxcc.com/email/technical/26072013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EURUSD commenced new step of uptrend formation. Possibility of further market appreciation is seen above the resistance level at 1.3296 (R1). Break here is required to validate next targets at 1.3316 (R2) and 1.3336 (R3). Downwards scenario: Any downside extension is limited now to the next support level at 1.3257 (S1). Below here we see potential for the price acceleration towards to next targets at 1.3237 (S2) and 1.3217 (S3).
Resistance Levels: 1.3296, 1.3316, 1.3336
Support Levels: 1.3257, 1.3237, 1.3217
----------------------
GBPUSD :
HIGH 1.54058 LOW 1.53732 BID 1.53913 ASK 1.53920 CHANGE 0.03% TIME 08 : 36:57
https://support.fxcc.com/email/technical/26072013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: While price is traded above the moving averages short-term bias would be considered as bullish. Next on tap is resistive barrier at 1.5419 (R1) on the way towards to higher targets at 1.5445 (R2) and 1.5470 (R3). Downwards scenario: On the other hand, break below the support at 1.5370 (S1) is required to enable further market decline. Our next supportive measures locates at 1.5343 (S2) and 1.5316 (S3).
Resistance Levels: 1.5419, 1.5445, 1.5470
Support Levels: 1.5370, 1.5343, 1.5316
-------------------------
USDJPY :
HIGH 99.402 LOW 98.626 BID 98.766 ASK 98.771 CHANGE -0.52% TIME 08 : 36:58
https://support.fxcc.com/email/technical/26072013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: USDJPY gained momentum on the downside and likely will close on the negative territory today. However clearance of our next resistive structure at 98.94 (R1) would open way towards to our initial target at 99.11 (R2) and any further market rise would then be targeting 99.29 (R3). Downwards scenario: On the other side, a dip below the initial support level at 98.53 (S1) is liable to trigger protective orders execution and drive market price towards to supportive means at 98.38 (S2) and 98.21 (S3).
Resistance Levels: 98.94, 99.11, 99.29
Support Levels: 98.53, 98.38, 98.21
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jul 29 2013
Japan's PM Abe rethinks sales tax hike; inflation case strengthens?
Japan's most significant fiscal reform in years, that is, a planned hike from 5% to 8% in sales tax by April 2014, faces the prospects of being delayed or watered down as concerns mount the tax increase may do more harm than good to the delicate economic recovery in the country. According to a report from Reuters earlier on Monday: "PM Abe says he will decide in the autumn whether to proceed with the first part of the two-stage plan after gauging the state of the economic recovery, especially GDP data that is due on Sept 9."
https://support.fxcc.com/email/technical/29072013/
FOREX ECONOMIC CALENDAR :
N/A | Bank of Japan Governor Kuroda Speech
2013-07-29 08:30 GMT | UK. Mortgage Approvals
2013-07-29 14:00 GMT | US. Pending Home Sales (YoY)
2013-07-29 23:50 GMT | Japan. Industrial Production (YoY)
FOREX NEWS :
2013-07-29 05:20 GMT | USD/JPY pulling back after Kuroda headlines make the rounds
2013-07-29 04:50 GMT | GBP/USD capped below big 1.54 figure
2013-07-29 04:44 GMT | EUR/USD approaching flat line for the session after initial upside
2013-07-29 04:09 GMT | AUD/JPY hovering above Friday’s lows of 90.56. Target 89.39, but will it bounce first?
EURUSD
HIGH 1.32936 LOW 1.32735 BID 1.32770 ASK 1.32775 CHANGE -0.01% TIME 08 : 34:38
https://support.fxcc.com/email/technical/29072013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Market took a breath after last days gains. Though possible clearance of our next resistive barrier at 1.3297 (R1) would suggest next intraday targets at 1.3316 (R2) and 1.3333 (R3) in potential. Downwards scenario: Fractal level, formed on the 24-07-2013 provides an important supportive mark at 1.3256 (S1). Any penetration below this level would suggest next targets at 1.3237 (S2) and 1.3217 (S3) in potential.
Resistance Levels: 1.3297, 1.3316, 1.3333
Support Levels: 1.3256, 1.3237, 1.3217
--------------------------
GBPUSD :
HIGH 1.54043 LOW 1.53747 BID 1.53816 ASK 1.53823 CHANGE 0.08% TIME 08 : 34:39
https://support.fxcc.com/email/technical/29072013/GBPUSD.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: Further positive bias development would face next resistive measure at 1.5419 (R1). If the price manages to overcome it we would suggest next intraday targets at 1.5445 (R2) and 1.5470 (R3). Downwards scenario: Possible recovery action might get acceleration below the support level at 1.5370 (S1). Loss here would suggest next intraday target at 1.5343 (S2) and any weakening below it would then be limited to final support at 1.5316 (S3).
Resistance Levels: 1.5419, 1.5445, 1.5470
Support Levels: 1.5370, 1.5343, 1.5316
-------------------------
USDJPY :
HIGH 98.34 LOW 97.633 BID 97.880 ASK 97.880 CHANGE -0.37% TIME 08 : 34:40
https://support.fxcc.com/email/technical/29072013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Medium term bias remains negative and possible price appreciation is limited to resistive barrier at 98.21 (R1). Prolonged movement above that level would suggest next intraday targets at 98.46 (R2) and 98.71 (R3). Downwards scenario: Further market weakening is protected by important technical level at 97.63 (S1). Break here is required to open road towards to interim target at 97.39 (S2) en route to final aim at 97.14 (S3).
Resistance Levels: 98.21, 98.46, 98.71
Support Levels: 97.63, 97.39, 97.14
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jul 30 2013
RBA Stevens speech recap: Still some scope to ease after last CPI
Governor of the RBA, Glenn Stevens, is giving his annual speech to The Anika Foundation Luncheon in Sydney, and some explosive comments are now crossing the wires. The topic of the speech is current issues in economic policy. According to RBA's Stevens, long rise in mining investment is now over, saying that coming fall could be "quite big". Stevens said that easing is working to shift investors to taking some more risk, adding that shift in risk taking not yet a serious impediment to further policy easing. Stevens remained dovish on his tone, saying that "still has some scope to ease after inflation data." On the Aussie value, Stevens wouldn't be surprised if it falls further, as "the fall makes economic sense."
https://support.fxcc.com/email/technical/30072013/
FOREX ECONOMIC CALENDAR :
2013-07-30 09:00 GMT | EMU. Consumer Confidence (Jul)
2013-07-30 12:00 GMT | Germany. Consumer Price Index (YoY)
2013-07-30 14:00 GMT | US. Consumer Confidence (Jul)
2013-07-30 23:13 GMT | Japan. Nomura/ JMMA Manufacturing Purchasing Manager Index (Jul)
FOREX NEWS :
2013-07-30 05:38 GMT | AUD/JPY slashes below key support at 89.39 on Stevens comments
2013-07-30 05:05 GMT | AUD/USD craters below recent trading range on Stevens’ speech
2013-07-30 05:03 GMT | NZD/USD breaks below 0.80 following RBA Stevens
2013-07-30 03:51 GMT | USD/JPY explodes towards 98.40/50 stops
EURUSD :
HIGH 1.32661 LOW 1.32474 BID 1.32587 ASK 1.32590 CHANGE -0.03% TIME 08 : 40:16
https://support.fxcc.com/email/technical/30072013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Market trapped to the consolidation phase after initial uptrend development. Further buying interest might occur above the resistance at 1.3273 (R1). Our initial targets locates at 1.3288 (R2) and 1.3304 (R3) Downwards scenario: If the price manages to clear an important technical level at 1.3247 (S1), recovery action might get more stimulus. Our next support levels locates at 1.3232 (S2) and 1.3217 (S3).
Resistance Levels: 1.3273, 1.3288, 1.3304
Support Levels: 1.3247, 1.3232, 1.3217
---------------------------
GBPUSD :
HIGH 1.53438 LOW 1.53152 BID 1.53391 ASK 1.53398 CHANGE 0% TIME 08 : 40:17
https://support.fxcc.com/email/technical/30072013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: GBPUSD is approaching our next resistive barrier at 1.5345 (R1). Break here is required to prolong upside pressure and trigger our intraday targets at 1.5360 (R2) and 1.5376 (R3) later on today. Downwards scenario: Further downtrend expansion might face next hurdle at the local low- 1.5314 (S1). Break here is required to open road towards to our next interim target at 1.5299 (S2) en route to final aim at 1.5283 (S3).
Resistance Levels: 1.5345, 1.5360, 1.5376
Support Levels: 1.5314, 1.5299, 1.5283
----------------------
USDJPY :
HIGH 98.463 LOW 97.849 BID 98.372 ASK 98.376 CHANGE 0.43% TIME 08 : 40:17
https://support.fxcc.com/email/technical/30072013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Medium term bias is clearly negative however we expect resuming of the recovery action if the price manages to overcome key resistive bastion at 98.46 (R1). In such case we would suggest next intraday targets at 98.71 (R2) and 98.96 (R3). Downwards scenario: Our next support level locates at 97.99 (S1) mark. Possible penetration below this mark would open way towards to next target at 97.73 (S2) and then final aim lie at 97.47 (S3) price level.
Resistance Levels: 98.46, 98.71, 98.96
Support Levels: 97.99, 97.73, 97.47
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Jul 31 2013
The world awaits the FOMC decision and statements
Unlike many of the recent Fed meetings, Today’s meeting will feature only the FOMC’s decision and accompanying statement – but still the world is watching. Today’s interest rate decision will only be accompanied by their official statement regarding their decision. Traders and analysts are hoping for more guidance on the Fed’s plans regarding their bond buying program.
https://support.fxcc.com/email/technical/31072013/
FOREX ECONOMIC CALENDAR :
2013-07-31 09:00 GMT | EMU. Consumer Price Index - Core (YoY)
2013-07-31 12:30 GMT | USA. Gross Domestic Product Annualized (Q2)
2013-07-31 18:00 GMT | USA. Fed Interest Rate Decision
2013-07-31 18:00 GMT | USA. Fed's Monetary Policy Statement and press conference
FOREX NEWS :
2013-07-31 04:43 GMT | Today is the big day, USD to be pressured - SocGen
2013-07-31 04:29 GMT | FOMC client survey results; most hold USD longs - Nomura
2013-07-31 04:25 GMT | NZD/USD holding above 0.7950 while capped below 0.80
2013-07-31 04:04 GMT | USD to strengthen as 'dovish' Fed priced in - RBS
EURUSD :
HIGH 1.3268 LOW 1.32517 BID 1.32572 ASK 1.32577 CHANGE -0.04% TIME 08 : 46:29
https://support.fxcc.com/email/technical/31072013/EURUSD.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: All supports and resistances remains the same today. Mark at 1.3273 (R1) acts as next resistive barrier on the way if the pair keeps it upside potential. Break here is required to achieve higher targets at 1.3288 (R2) and 1.3304 (R3) later on today. Downwards scenario: On the other side, depreciation below the support at 1.3247 (S1) might shift short-term tendency to the bearish side and validate our intraday targets at 1.3232 (S2) and 1.3217(S3).
Resistance Levels: 1.3273, 1.3288, 1.3304
Support Levels: 1.3247, 1.3232, 1.3217
--------------------------
GBPUSD :
HIGH 1.52434 LOW 1.52185 BID 1.52244 ASK 1.52250 CHANGE -0.09% TIME 08 : 46:30
https://support.fxcc.com/email/technical/31072013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Instrument gained momentum on the downside recently, turning short-term bias to the negative side. Though, upwards penetration above the resistance at 1.5252 (R1) might enable bullish forces and expose our initial targets at 1.5267 (R2) and 1.5282 (R3). Downwards scenario: On the other side, depreciation below the support barrier at 1.5215 (S1) might provide sufficient space for the recovery action. In such case we would suggest next intraday targets at 1.5205 (S2) and then 1.5186 (S3).
Resistance Levels: 1.5252, 1.5267, 1.5282
Support Levels: 1.5215, 1.5205, 1.5186
--------------------
USDJPY :
HIGH 98.162 LOW 97.847 BID 98.019 ASK 98.020 CHANGE -0.01% TIME 08 : 46:31
https://support.fxcc.com/email/technical/31072013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Possible volatility increase might commence new phase of downtrend extension either prolong retracement formation on the hourly chart frame. Price appreciation above the resistance at 98.23 (R1) would suggest intraday targets at 98.44 (R2) and 98.65 (R3). Downwards scenario: On the downside, next on tap is seen support level at 97.74 (S1). Clearance here is required to enable lower targets at 97.49 (S2) and 97.25 (S3)
Resistance Levels: 98.23, 98.44, 98.65
Support Levels: 97.74, 97.49, 97.25
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Aug 01 2013
Mixed data spur controversies on Chinese PMI data restrictions
Last month, the National Bureau of Statistics restrained industry-specific data upon publication of Purchasing Manufacturing indexes. Under the premise implying not enough resources were available to make such analysis public, the Chinese opted to suspend relevant information indicative of this year’s economic performance. As stated by the vice president of the China Federation of Logistics & Purchasing, “We now have 3,000 samples in the survey, and from a technical point of view, time is very limited — there are many industries, you know”. While Chinese provide zero point zone explanations, speculation concerning the reasons behind such measures continues to surge.
https://support.fxcc.com/email/technical/01082013/
FOREX ECONOMIC CALENDAR :
2013-08-01 11:00 GMT | UK. BoE Interest Rate Decision
2013-08-01 11:45 GMT | EMU. ECB Interest Rate Decision
2013-08-01 12:30 GMT | EMU. ECB Monetary policy statement and press conference
2013-08-01 14:00 GMT | USA. ISM Manufacturing PMI
FOREX NEWS :
2013-08-01 04:12 GMT | GBP/USD at fresh session lows ahead of London
2013-08-01 03:09 GMT | USD/JPY totally flat for the week above 98 waiting NFP
2013-08-01 02:55 GMT | AUD/USD, 0.8858 and 8775 next targets - 2ndSkies
2013-08-01 02:25 GMT | EUR/USD flat for the week inside a 150 pip range
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EURUSD
HIGH 1.33108 LOW 1.32661 BID 1.32698 ASK 1.32702 CHANGE -0.25% TIME 08 : 45:58
https://support.fxcc.com/email/technical/01082013/EURUSD.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Possible upside penetration looks limited now to the next resistive barrier at 1.3288 (R1). Appreciation above this mark might gradually push the pair toward to next targets at 1.3304 (R2) and 1.3319 (R3) in potential. Downwards scenario: As long as price stays below the next resistance level our technical outlook would be negative. Next on tap is support level at 1.3252 (S1). Penetration below this mark would suggest next targets at 1.3238 (S2) and 1.3223 (S3).
Resistance Levels: 1.3288, 1.3304, 1.3319
Support Levels: 1.3252, 1.3238, 1.3223
------------------------
GBPUSD :
HIGH 1.52102 LOW 1.51535 BID 1.51597 ASK 1.51599 CHANGE -0.3% TIME 08 : 45:59
https://support.fxcc.com/email/technical/01082013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: Possible buying interest might push the pair to attack next resistive measure at 1.5187 (R1). Clearance here is required to resume upside formation, targeting marks at 1.5207 (R2) and 1.5226 (R3) later on today. Downwards scenario: On the other hand, loss of our support level at 1.5146 (S1) would open road for a market decline towards to our next target at 1.5128 (S2). Any further price weakening would then be limited to final support for today at 1.5109 (S3).
Resistance Levels: 1.5187, 1.5207, 1.5226
Support Levels: 1.5146, 1.5128, 1.5109
-----------------------
USDJPY :
HIGH 98.375 LOW 97.658 BID 98.350 ASK 98.353 CHANGE 0.52% TIME 08 : 46:00
https://support.fxcc.com/email/technical/01082013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Risk of further price appreciation is seen above the next resistance level at 98.46 (R1). Clearance here would suggest next intraday target at 98.66 (R2) and then final aim locates at 98.86 (R3). Downwards scenario: On the other hand, clearance of our support at 98.11 (S1) is required to determine negative intraday bias and enable lower target at 97.90 (S2) and then any further market depreciation would suggest final support at 97.69 (S3).
Resistance Levels: 98.46, 98.66, 98.86
Support Levels: 98.11, 97.90, 97.69
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Aug 05 2013
Australian services sector falls below 40.00, first time since GFC
Earlier on the session it was learnt that the Australian Performance of Services Index (Australian PSI®) fell deeper into the red, this time by 2.1 points to 39.4 in July, suggesting further contraction in activity. This is the lowest level for the Australian PSI® since March 2009, Ai Group reported, saying that "outside the GFC-related downturn in 2008-09, it is the first time the Australian PSI® has fallen below 40 points."
https://support.fxcc.com/email/technical/05082013/
FOREX ECONOMIC CALENDAR :
2013-08-05 07:58 GMT | EMU. Markit Services PMI
2013-08-05 08:28 GMT | UK. Markit Services PMI (Jul)
2013-08-05 09:00 GMT | EMU. Retail Sales (YoY)
2013-08-05 14:00 GMT | US. ISM Non-Manufacturing PMI
FOREX NEWS :
2013-08-05 05:18 GMT | GBP/USD mustering a modest bounce after five straight down sessions
2013-08-05 04:31 GMT | AUD/USD enters heavy data week oversold and with the world leaning against it
2013-08-05 04:09 GMT | EUR/USD, sellers protect 1.3280 resistance
2013-08-05 03:24 GMT | USD/JPY easing below 99.00
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EURUSD :
HIGH 1.32868 LOW 1.32635 BID 1.32788 ASK 1.32791 CHANGE -0.02% TIME 08 : 33:34
https://support.fxcc.com/email/technical/05082013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Neutral hourly studies point towards further consolidation, with a break of next resistive structure at 1.3293 (R1) is required to spark stronger upside action. In such scenario we would suggest our next initial targets 1.3304 (R2) and 1.3316 (R3). Downwards scenario: Risk of market depreciation is seen below the next support level at 1.3263 (S1). Clearance here would suggest next intraday targets at 1.3252 (S2) and 1.3241 (S3) in potential.
Resistance Levels: 1.3293, 1.3304, 1.3316
Support Levels: 1.2263, 1.3252, 1.3241
---------------------
GBPUSD :
HIGH 1.52969 LOW 1.5259 BID 1.52751 ASK 1.52756 CHANGE -0.05% TIME 08 : 33:34
https://support.fxcc.com/email/technical/05082013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: Market price penetrated above the Friday’s high. On the way is key resistive measure at 1.5309 (R1), break here is required to achieve higher targets at 1.5330 (R2) and 1.5350 (R3). Downwards scenario: On the downside next challenge is seen at 1.5248 (S1). Breakthrough here would open road for a recovery action towards to our initial targets at 1.5233 (S2) and 1.5212 (R3) in potential.
Resistance Levels: 1.5309, 1.5330, 1.5350
Support Levels: 1.5248, 1.5233, 1.5212
-------------------------
USDJPY :
HIGH 99.15 LOW 98.706 BID 98.771 ASK 98.776 CHANGE -0.17% TIME 08 : 33:35
https://support.fxcc.com/email/technical/05082013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low
Upwards scenario: Market players may prefer to stay neutral today during limited tier one macroeconomic data flow, though a break of our resistance at 99.15 (R1) would suggest next targets at 99.32 (R2) and 99.49 (R3). Downwards scenario: Further recovery phase is limited now to the next supportive barrier at 98.65 (S1). Only loss here would enable our intraday targets at 98.50 (S2) and 98.34 (S3) on the downside.
Resistance Levels: 99.15, 99.32, 99.49
Support Levels: 98.65, 98.50, 98.34
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Aug 06 2013
AUD/USD rallies initially after RBA, but a lot of resistance looms
The AUD/USD came into the RBA decision very oversold and ready squeeze the bears. Despite the initial pop, technicians say there’s plenty of resistance to conquer before the bulls take control of the macro picture. The initial positive reaction following the RBA’s 25 basis point rate cut appears to be the market weeding out those shorts who were banking on a 50 basis point cut. While nobody knows exactly how much money was being bet against the AUD/USD, but the mercilous selling that led to the extreme oversold readings made it quite apparent that the short-Aussie trade was extremely crowded – and the markets do not treat crowded trades well typically. The good news for bears that were not over-leveraged is that the RBA hinted that they stand at the ready to act further if growth continues to be a problem and inflation remains benign.
https://support.fxcc.com/email/technical/06082013/
FOREX ECONOMIC CALENDAR :
2013-08-06 08:30 GMT | UK. Industrial Production (YoY)
2013-08-06 12:30 GMT | US. Trade Balance
2013-08-06 14:00 GMT | UK. NIESR GDP Estimate (3M)
2013-08-06 22:45 GMT | NZ. Unemployment Rate (Q2)
FOREX NEWS :
2013-08-06 05:04 GMT | Japan June Leading Economic Index falls to 107 vs 110.7
2013-08-06 04:48 GMT | USD pares loses; RBA cuts 25bps as expected
2013-08-06 04:47 GMT | EUR/AUD, on never-ending downfall?
2013-08-06 03:48 GMT | USD/JPY, Houston, do we have a problem?
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EURUSD :
HIGH 1.32714 LOW 1.32526 BID 1.32546 ASK 1.32552 CHANGE -0.03% TIME 08 : 40:54
https://support.fxcc.com/email/technical/06082013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Despite the current consolidation pattern, EURUSD remains in uptrend formation on the bigger picture. Clearance of our next resistance level at 1.3272 (R1) would suggest initial targets at 1.3282 (R2) and 1.3292 (R3). Downwards scenario: On the downside next supportive bastion lies at 1.3250 (S1). Prolonged movement below it might then expose our intraday targets at 1.3241 (S2) and 1.3231 (S3).
Resistance Levels: 1.3272, 1.3282, 1.3292
Support Levels: 1.3250, 1.3241, 1.3231
---------------------
GBPUSD :
HIGH 1.53689 LOW 1.53362 BID 1.53376 ASK 1.53385 CHANGE -0.1% TIME 08 : 40:54
https://support.fxcc.com/email/technical/06082013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Further bullish penetration might face next challenge at 1.5378 (R1). Break here would then be targeting 1.5396 (R2) en route towards to last resistance for today at 1.5415 (R3).Downwards scenario: On the other hand, retracement formation might occur below the immediate support level at 1.5319 (S1). Clearance here would enable our next intraday targets at 1.5301(S2) and 1.5281 (S3).
Resistance Levels: 1.5378, 1.5396, 1.5415
Support Levels: 1.5319, 1.5301, 1.5281
--------------------
USDJPY :
HIGH 98.377 LOW 97.838 BID 98.350 ASK 98.353 CHANGE 0.06% TIME 08 : 40:55
https://support.fxcc.com/email/technical/06082013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: An element of resistive measure could be found at 98.46 (R1). Clearance here would open way towards to higher target at 98.63 (R2) and any further rise would then be limited to last resistance at 98.80 (R3). Downwards scenario: Failure to establish corrective structure might lead to further downtrend evolvement later on today. Penetration below the support at 98.03 (S1) would suggest next intraday targets at 97.86 (S2) and 97.69 (S3) in perspective.
Resistance Levels: 98.46, 98.63, 98.80
Support Levels: 98.03, 97.86, 97.69
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Aug 07 2013
GBP/USD fading after failed test of 1.5435 level; BOE report looms
The GBPUSD runs the risk of cascading lower yet again after it ran up to “correction resistance” and failed. The BOE’s inflation report and Mr. Carney’s appearance before Parliament are sure to create a sharp move. The GBP/USD cross rallied sharply on Dollar weakness following Friday’s jobs report in the US. The bullish tone carried over into Sunday night’s open and continued to stair-step higher until just after Britain’s industrial and manufacturing production numbers were released. Shortly after those numbers came out, the GBP/USD began to sell off – this time in a stair-step pattern in the opposite direction. So far, there is still a chance that the latest bit of selling is just a correction lower leading up to the next thrust higher. But, technicians say that a break below 1.5213 would put out any bullish flame.
https://support.fxcc.com/email/technical/07082013/
FOREX ECONOMIC CALENDAR :
2013-08-07 09:30 GMT | Bank of England Quarterly Inflation Report
2013-08-07 09:30 GMT | Mark Carney speaks at UK Parliament
2013-08-07 12:30 GMT | Canada. Building Permits (MoM) (Jun)
2013-08-07 19:00 GMT | US Consumer Credit Change (Jun)
FOREX NEWS :
2013-08-07 05:20 GMT | EUR/GBP up after Tuesday’s gains ahead of BOE inflation report
2013-08-07 04:26 GMT | AUD/USD downtrend dominant; targets at 0.8550, 0.8675 - ANZ
2013-08-07 03:20 GMT | GBP/USD fading after failed test of 1.5435 level; BOE report looms
2013-08-07 02:49 GMT | Risk of a dovish BoJ - RBS
-----------------
EURUSD :
HIGH 1.33156 LOW 1.32926 BID 1.33025 ASK 1.33028 CHANGE -0.02% TIME 08 : 41:08
https://support.fxcc.com/email/technical/07082013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EURUSD trapped to the consolidation mode on the hourly chart frame. Next resistive barrier is seen at 1.3315 (R1), break here is required to enable next attractive points at 1.3324 (R2) and 1.3332 (R3). Downwards scenario: While instrument trades above the moving averages, our short-term bias would stay positive though penetration below the support level at 1.3292 (S1) might open way towards to lower targets at 1.3283 (S2) and 1.3273 (S3).
Resistance Levels: 1.3315, 1.3324, 1.3332
Support Levels: 1.3292, 1.3283, 1.3273
-----------------------
GBPUSD :
HIGH 1.53635 LOW 1.53173 BID 1.53347 ASK 1.53352 CHANGE -0.09% TIME 08 : 41:08
https://support.fxcc.com/email/technical/07082013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Possibility of uptrend evolvement is seen above the next resistance at 1.5363 (R1). Violation here would increase bullish pressure and suggest next intraday targets at 1.5387 (R2) and 1.5412 (R3). Downwards scenario: Our next support level is placed at 1.5317 (S1), right below the local minimum. Possible penetration below it might initiate bearish pressure and gradually push the price towards to our intraday targets at 1.5295 (S2) and 1.5273 (S3).
Resistance Levels: 1.5363, 1.5387, 1.5412
Support Levels: 1.5317, 1.5295, 1.5273
----------------------
USDJPY :
HIGH 97.804 LOW 97.092 BID 97.226 ASK 97.230 CHANGE -0.52% TIME 08 : 41:09
https://support.fxcc.com/email/technical/07082013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Descending structure suggests possible correction ahead. Break above the resistance at 97.58 (R1) would clear the way towards to higher target at 97.83 (R2). Further price appreciation would face then final resistive measure at 98.07 (R3) Downwards scenario: Local low offers an important supportive measure at 97.08 (S1). A violation here might call for a run towards to initial targets at 96.84 (S2) and 96.58 (S3).
Resistance Levels: 97.58, 97.83, 98.07
Support Levels: 97.08, 96.84, 96.58
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Aug 08 2013
BoJ to keep massive monetary easing
BOJ kept monetary policy steady by unanimous vote, retaining its plan to increase monetary base at annual pace of 60-70 trillion yen. The bank said that the CPI uptick from recent months will gradually accelerate as inflation expectations continue to rise on the whole. Monetary easing to continue until 2% inflation target reached, the BoJ said. On the economic outlook, the central bank said the Japanese economy is recoverying moderately but still faces many uncertainties.
https://support.fxcc.com/email/technical/08082013/
FOREX ECONOMIC CALENDAR :
2013-08-08 08:00 GMT | EMU ECB Monthly Report
2013-08-08 12:30 GMT | US Initial Jobless Claims
2013-08-08 12:30 GMT | Canada. New Housing Price Index (YoY)
2013-08-08 23:50 GMT | Japan. Tertiary Industry Index (MoM)
FOREX NEWS :
2013-08-08 05:02 GMT | EUR/USD resting below fresh 7-week highs at 1.3350
2013-08-08 04:50 GMT | AUD/NZD takes off to reach 1.1397 intraday highs
2013-08-08 04:50 GMT | GBP/USD consolidating gains above 1.55
2013-08-08 04:20 GMT | USD/CHF pocketing 0.13% gains on steady climb
-------------------
EURUSD
HIGH 1.33506 LOW 1.33281 BID 1.33485 ASK 1.33489 CHANGE 0.1% TIME 08 : 35:44
https://support.fxcc.com/email/technical/08082013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Fresh high offers a key resistive barrier at 1.3346 (R1). Subsequently loss here might create upside momentum and drive market price towards to our initial targets at 1.3358 (R2) and 1.3370 (R3) in potential. Downwards scenario: On the other hand, depreciation below the technically important support level at 1.3327 (S1) might lead to the correction formation on the short-term perspective. Possible targets lies at 1.3314 (S2) and 1.3302 (S3).
Resistance Levels: 1.3346, 1.3358, 1.3370
Support Levels: 1.3327, 1.3314, 1.3302
----------------------
GBPUSD :
HIGH 1.55067 LOW 1.54849 BID 1.55067 ASK 1.55071 CHANGE 0.13% TIME 08 : 35:45
https://support.fxcc.com/email/technical/08082013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: After the strong appreciation yesterday we expect to see some consolidation ahead. Though clearance of next resistance level at 1.5531 (R1) might enable bullish pressure and open route towards to our next targets at 1.5557 (R2) and 1.5584 (R3). Downwards scenario: On the downside, support level at 1.5478 (S1) limits possible retracement expansion. Break here is required to enable lower target at 1.5450 (S2) en route to final aim at 1.5424 (S3).
Resistance Levels: 1.5531, 1.5557, 1.5584
Support Levels: 1.5478, 1.5450, 1.5424
----------------------
USDJPY :
HIGH 96.935 LOW 96.322 BID 96.415 ASK 96.416 CHANGE 0.09% TIME 08 : 35:46
https://support.fxcc.com/email/technical/08082013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Possible buying interest might arise above the resistance at 96.94 (R1). Clearance here would suggest next intraday target at 97.18 (R2) and if the price holds its momentum we can expect an exposure of 97.42 (R3). Downwards scenario: On the other hand, further downtrend development may encounter supportive measure at 96.30 (S1). Penetration through this level would targeting then supportive means at 96.08 (S2) and 95.84 (S3) in potential.
Resistance Levels: 96.94, 97.18, 97.42
Support Levels: 96.30, 96.08, 95.84
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Aug 13 2013
Yen short trade revival subject to Japan's sales tax chatter...
By now, the market completes a full trading day in which investors and traders had the opportunity to digest what to make out of Monday's disappointing Japan Q2 GDP data, but most importantly, what might be the implications on the widely covered topic of the sales tax hike. As reported yesterday, the big miss in the Japanese growth figures, displaying a -1% negative deviation from 3.6% expected to 2.6% preliminary data, is not helping the case to implement a planned 3% aggressive increase on the sales tax. Historically, there are well-founded reasons to fear that the economy may face some undesirable headwinds if being too aggressive on a tax hike. Japanese policy-makers are growing more vocal on softer option to take on, including either a more conservative 1% incremental approach on the sales tax, or even delaying the tax hike by one year after Japan's PM Abe Adviser, Mr. Hamada,was quoted earlier yesterday saying "there is no need to hurry with the sales tax hike after the weaker-than-expected Q2 GDP as it might harm the economy." On the flip side, BoJ Chief Kuroda said last week that it is not necessary a delay in the sales tax hike, saying that “ending deflation and raising the sales tax are achievable at the same time.”
https://support.fxcc.com/email/technical/13082013/
FOREX ECONOMIC CALENDAR :
2013-08-13 08:30 GMT | UK Consumer Price Index (YoY) (Jul)
2013-08-13 09:00 GMT | EMU ZEW Survey - Economic Sentiment (Jul)
2013-08-13 12:30 GMT | US Retail Sales (MoM) (Jul)
2013-08-13 14:00 GMT | US Business Inventories (Jun)
FOREX NEWS :
2013-08-13 04:54 GMT | GBP/USD working off overbought condition with current pullback
2013-08-13 04:54 GMT | EUR/GBP treading water above 0.86 ahead of UK CPI
2013-08-13 03:56 GMT | EUR/JPY pushed up to fresh new 129.60 highs
2013-08-13 03:42 GMT | EUR/USD ignited on impressive rally
----------------------
EURUSD :
HIGH 1.3313 LOW 1.32891 BID 1.33032 ASK 1.33032 CHANGE 0.03% TIME 08 : 34:53
https://support.fxcc.com/email/technical/13082013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Price dip lower yesterday and finally stabilized. A violation of next resistance at 1.3313 (R1) might call for a run towards to next target at 1.3327 (R2) and any further appreciation would then be limited to final target at 1.3340 (R3). Downwards scenario: We placed our support level right below the session low at 1.3288 (S1). Clearance here is liable to open way towards to our interim target at 1.3275 (S2) and then might expose final aim at 1.3262 (S3).
Resistance Levels: 1.3313, 1.3327, 1.3340
Support Levels: 1.3288, 1.3275, 1.3262
----------------------
GBPUSD :
HIGH 1.54649 LOW 1.54472 BID 1.54599 ASK 1.54607 CHANGE 0% TIME 08 : 34:54
https://support.fxcc.com/email/technical/13082013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Market trapped to the consolidation phase after initial uptrend development. Further buying interest might occur above the resistance at 1.5485 (R1). Our initial targets locates at 1.5512 (R2) and 1.5538 (R3) Downwards scenario: On the downside Cable is approaching our next supportive barrier at 1.5442 (S1). Break here is required to drive market price towards to next visible targets at 1.5415 (S2) and 1.5388 (S3) later on today.
Resistance Levels: 1.5485, 1.5512, 1.5538
Support Levels: 1.5442, 1.5415, 1.5388
----------------------
USDJPY :
HIGH 97.561 LOW 96.857 BID 97.451 ASK 97.454 CHANGE 0.57% TIME 08 : 34:55
https://support.fxcc.com/email/technical/13082013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Instrument gained momentum on the upside recently, turning short-term bias to the positive side. Next resistive structure on the way lies at 97.65 (R1), break here would suggest next intraday targets at 97.88 (R2) and 98.11 (R3). Downwards scenario: Any downside fluctuations remains for now limited to the key support barrier at 97.14 (S1). Only clear break here would be a signal of possible market easing towards to our targets at 96.93 (S2) and 96.70 (S3) in potential.
Resistance Levels: 97.65, 97.88, 98.11
Support Levels: 97.14, 96.93, 96.70
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Aug 14 2013
Fed’s Lockhart reiterates September reduction in Federal bond buying
In news that will certainly resonate through FX Markets, Atlanta Fed President Dennis Lockhart reported that the Federal Reserve could begin reducing its bond-buying stimulus as early as its September meeting – despite inflation still being below its targeted values. One of the more pressing concerns facing investors and policymakers alike is that the U.S. economic performance is too volatile or unstable for Federal Reserve policymakers to initiate their comprehensive plan for both reducing and eventually halting their asset-purchasing program as early as next month. Ultimately though, Lockhart appeared open or receptive to at least a modest pullback in Federal monetary stimulus from its current pace of $85 billion per month. "I wouldn't rule out September," he stated. "As I see it, a decision to proceed - whether it is in September, October, or December - ought to be thought of as a cautious first step." Indeed, U.S. inflation has been running well below the Fed's 2.0% target for some time – historically very low. However Lockhart noted he did not see any signs that deflation was accelerating, reiterating that the current inflationary backdrop would still be consistent with a modest pullback in quantitative easing.
https://support.fxcc.com/email/technical/14082013/
FOREX ECONOMIC CALENDAR :
2013-08-14 06:00 GMT | Germany. Gross Domestic Product n.s.a (YoY) (Q2)
2013-08-14 08:30 GMT | UK. Bank of England Minutes
2013-08-14 09:00 GMT | EMU. Gross Domestic Product s.a. (YoY) (Q2)
2013-08-14 12:30 GMT | US. Producer Price Index ex Food & Energy (YoY)
FOREX NEWS :
2013-08-14 05:01 GMT | EUR/USD grinds sideways at 1.3263 in advance of key European data
2013-08-14 04:56 GMT | EUR/GBP capped below 0.86 ahead of UK jobs data
2013-08-14 04:10 GMT | USD marginally lower on Yen strength; Hong-Kong closed
2013-08-14 03:12 GMT | Next RBA cut November, more cuts may follow - NAB
--------------------
EURUSD :
HIGH 1.3268 LOW 1.32532 BID 1.32638 ASK 1.32640 CHANGE 0.01% TIME 08 : 38:20
https://support.fxcc.com/email/technical/14082013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Market remains relatively stable below the moving averages, though clearance of next resistance level at 1.3269 (R1) might initiates bullish pressure. Above the local high locates our intraday targets at 1.3282 (R2) and 1.3294 (R3). Downwards scenario: Failure to establish positive bias today would shift our focus to the next support level at 1.3246 (S1). Clearance here would open way towards to next targets at 1.3234 (S2) and 1.3221 (S3).
Resistance Levels: 1.3269, 1.3282, 1.3294
Support Levels: 1.3246, 1.3234, 1.3221
---------------------
GBPUSD :
HIGH 1.54535 LOW 1.54362 BID 1.54425 ASK 1.54434 CHANGE -0.03% TIME 08 : 38:21
https://support.fxcc.com/email/technical/14082013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Possibility of price progress is seen above the next resistance level at 1.5472 (R1). Breakthrough here would suggest our interim target at 1.5498 (R2) and then mark at 1.5524 (R3) acts as last resistive measure today. Downwards scenario: Any downside extension is limited now to the next support level at 1.5425 (S1). Below here we see potential for the price acceleration towards to next targets at 1.5401 (S2) and 1.5375 (S3).
Resistance Levels: 1.5472, 1.5498, 1.5524
Support Levels: 1.5425, 1.5401, 1.5375
----------------------
USDJPY :
HIGH 98.406 LOW 97.866 BID 98.386 ASK 98.388 CHANGE 0.18% TIME 08 : 38:22
https://support.fxcc.com/email/technical/14082013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Yesterday price acceleration on the upside suggests medium-term positive bias. Possible penetration above the resistance level at 98.52 (R1) is liable to open way towards to our initial targets at 98.71 (R2) and 98.89 (R3). Downwards scenario: On the other hand, break below the support at 97.85 (S1) is required to enable possible retracement development. Our next supportive measures locates at 97.65 (S2) and 97.45 (S3).
Resistance Levels: 98.52, 98.71, 98.89
Support Levels: 97.85, 97.65, 97.45
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Aug 15 2013
EUR/USD rips vertically on a 10-minute chart; still vulnerable macro set-up
The EUR/USD just ripped straight higher for over 400 pips on non-news related buying. Still, any upside is corrective in nature unless 1.3414 is conquered say technicians. EUR/USD will likely be trading off of US data Thursday Despite the rip higher that just occurred on the intraday chart, the macro picture appears to be setting up for much more downside once this upside correction runs its course. The European markets are closed for the most part Thursday in honor of Ascension Day.
http://www.einvestorsforum.com/#sthash.YmmEQouT.dpbs
FOREX ECONOMIC CALENDAR :
2013-08-15 12:30 GMT | US. Consumer Price Index (MoM)/(YoY) (Jul)
2013-08-15 12:30 GMT | US. Initial Jobless Claims
2013-08-15 13:15 GMT | US. Industrial Production (MoM) (Jul)
2013-08-15 14:00 GMT | US. Philadelphia Fed Manufacturing Survey (Jul)
FOREX NEWS :
2013-08-15 04:35 GMT | EUR/GBP sitting above 0.8550 ahead of UK retail sales
2013-08-15 04:22 GMT | USD/JPY hits ceiling at 97.80
2013-08-15 03:45 GMT | GBP/AUD below 1.70 testing June highs as support now
2013-08-15 03:15 GMT | AUD/JPY struggles to break 90.00 but looking bullish
EURUSD :
HIGH 1.33103 LOW 1.3253 BID 1.32896 ASK 1.32897 CHANGE 0.26% TIME 08 : 09:02
https://support.fxcc.com/email/technical/15082013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Neutral channel formation remains in play on the hourly chart. Our next resistance level is placed above the local peak at 1.3310 (R1). Strengthening above it would point to resistive structure at 1.3341 (R2) onto 1.3367 (R3). Downwards scenario: On the other hand, price pattern suggests bearish potential if the instrument manages to overcome next support level at 1.3241 (S1). Possible price regress could expose our initial targets at 1.3223 (S2) and 1.3202 (S3) in potential.
Resistance Levels: 1.3310, 1.3341, 1.3367
Support Levels: 1.3241, 1.3223, 1.3202
---------------------
GBPUSD :
HIGH 1.55232 LOW 1.54978 BID 1.55187 ASK 1.55193 CHANGE 0.11% TIME 08 : 09:03
https://support.fxcc.com/email/technical/15082013/GBPUSD.png
OUTLOOK : SUMMARY
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Measures of resistance might be activating when the pair approaches the 1.5538 (R1) mark. Break here would suggest next interim target at 1.5566 (R2) and If the price keeps its momentum we expect an exposure of 1.5601 (R3). Downwards scenario: Possible pull back development is limited now to the key supportive barrier at 1.5496 (S1). Only loss here would be considered as a beginning of a retracement expansion. Our intraday targets locates at 1.5467 (S2) and 1.5436 (S3).
Resistance Levels: 1.5538, 1.5566, 1.5601
Support Levels: 1.5496, 1.5467, 1.5436
--------------------
USDJPY :
HIGH 98.296 LOW 97.584 BID 97.732 ASK 97.737 CHANGE -0.39% TIME 08:09:04
https://support.fxcc.com/email/technical/15082013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Upside formation is limited now to the next resistive barrier at 98.25 (R1). Clearance here is required to provide a space for a move towards to next target at 98.56 (R2) and then final aim would be 98.77 (R3). Downwards scenario: We would shift our short-term technical outlook to the negative if the price manage to penetrate below the key support at 97.60 (S1). Loss here would suggest next initial targets at 97.30 (S2) and 97.02 (S3).
Resistance Levels: 98.25, 98.56, 98.77
Support Levels: 97.60, 97.30, 97.02
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Sep 02 2013
Obama seeks Congressional approval before launching attack against Syria
U.S. President Barack Obama has delayed a military strike against Syria by requesting authorization first from an incredulous Congress, a decision that may take no less than 10 days to be given. As Obama said, in a hastily organized appearance in the Rose Garden, "I’m prepared to give that order, but having made my decision as commander in chief based on what I am convinced is our national security interests, I’m also mindful that I’m the president of the world’s oldest constitutional democracy.” According to John Boehner, the Republican speaker of the House of Representatives, “we expect the House to consider a measure the week of September 9.″
https://support.fxcc.com/email/technical/02092013
FOREX ECONOMIC CALENDAR :
2013-09-02 07:53 GMT | DE Markit Manufacturing PMI (Aug)
2013-09-02 07:58 GMT | EMU Markit Manufacturing PMI (Aug)
2013-09-02 08:28 GMT | UK Markit Manufacturing PMI (Aug)
2013-09-02 15:30 GMT | US 6-Month Bill Auction
FOREX NEWS :
2013-09-02 05:06 GMT | EUR/USD now trading lower and below key support at 1.3205
2013-09-02 04:50 GMT | Australian Dollar faces monumental week - UBS
2013-09-02 03:54 GMT | GBP/USD creeps north; target at 1.56
2013-09-02 03:18 GMT | EUR/GBP rapidly approaching projected downside target at 0.8472
---------------------
EURUSD
HIGH 1.32141 LOW 1.31917 BID 1.32094 ASK 1.32097 CHANGE -0.08% TIME 08 : 32:59
https://support.fxcc.com/email/technical/02092013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Possible retracement action is limited now to the next resistive measure at 1.3226 (R1). Clearance here is required to enable our interim target at 1.3248 (R2) en route to final aim at 1.3270 (R3). Downwards scenario: The downside direction remains favored according to the technical indicators. Our next support measure lies at 1.3174 (S1). Decline below it would enable lower targets at 1.3152 (S2) and 1.3130 (S3).
Resistance Levels: 1.3226, 1.3248, 1.3270
Support Levels: 1.3174, 1.3152, 1.3130
-------------------
GBPUSD :
HIGH 1.55658 LOW 1.55056 BID 1.55500 ASK 1.55503 CHANGE 0.36% TIME 08 : 33:00
https://support.fxcc.com/email/technical/02092013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: GBPUSD clearly determined positive bias on the short-term perspective. Penetration above the resistive measure at 1.5556 (R1) might encourage protective orders execution and drive market price towards to the next resistive means at 1.5582 (R2) and 1.5598 (R3). Downwards scenario: Although market players may prefer to increase exposure on the short positions and push the price below the support level at 1.5527 (S1). Possible price devaluation would suggest initial targets at 1.5510 (S2) and then 1.5493 (S3).
Resistance Levels: 1.5556, 1.5582, 1.5598
Support Levels: 1.5527, 1.5510, 1.5493
---------------------
USDJPY :
HIGH 98.674 LOW 98.275 BID 98.598 ASK 98.603 CHANGE 0.51% TIME 08 : 33:00
https://support.fxcc.com/email/technical/02092013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low
Upwards scenario: While both moving averages are pointing up, medium-term technical outlook would be positive. Appreciation above the resistance at 98.75 (R1) would enable recovery phase towards to next targets at 98.88 (R2) and 99.01 (R3). Downwards scenario: Negative developments might be settled below the important support level at 98.47 (S1). Any price action below it would then be targeting support level at 98.34 (S2) and then final target could be exposed at 98.21 (S3).
Resistance Levels: 98.75, 98.88, 99.01
Support Levels: 98.47, 98.34, 98.21
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Sep 03 2013
RBA keeps rate at 2.5%, easing bias removal?
The Reserve Bank of Australia left rates unchanged at 2.5% record lows, with the Monetary Policy Statement offering some interesting clues, saying "the Board will continue to assess the outlook and adjust policy as needed", omitting a more aggressive narrative seen in last few months. While the door to reduce rates further is not closed, the statement sounds not as dovish as one may have expected, yet the value of the Australian Dollar and domestic indicators will continue to determine the future rate setting. For now, looks like AUD bulls will gain Sept battle.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-09-03 08:30 GMT | UK PMI Construction (Aug)
2013-09-03 09:00 GMT | EMU Producer Price Index (YoY) (Jul)
2013-09-03 12:58 GMT | US Markit Manufacturing PMI (Aug)
2013-09-03 14:00 GMT | US ISM Manufacturing PMI (Aug)
FOREX NEWS :
2013-09-03 05:38 GMT | GBP/USD drifting higher for a 3rd session after rough 2 weeks; 1.5587 key hurdle
2013-09-03 05:07 GMT | AUD/USD spikes above 0.9000 after RBA
2013-09-03 04:19 GMT | EUR/USD extends choppy range; remains at 30-day lows
2013-09-03 04:03 GMT | USD/JPY continues to consolidate above 99.00
-------------------------
EURUSD :
HIGH 1.31968 LOW 1.31778 BID 1.31800 ASK 1.31804 CHANGE -0.08% TIME 08 : 44:17
https://support.fxcc.com/email/technical/03092013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Possibility of retracement formation is seen above the yesterday high -1.3227 (R1). Break here is required to clear the way towards to higher targets at 1.3248 (R2) and 1.3269 (R3). Downwards scenario: We placed our support level right below the local low at 1.3173 (S1). Clearance here is liable to open way towards to our interim target at 1.3152 (S2) and then might expose final aim at 1.3130 (S3).
Resistance Levels: 1.3227, 1.3248, 1.3269
Support Levels: 1.3173, 1.3152, 1.3130
----------------------
GBPUSD :
HIGH 1.5562 LOW 1.55379 BID 1.55491 ASK 1.55498 CHANGE 0.05% TIME 08 : 44:17
https://support.fxcc.com/email/technical/03092013/GBPUSD.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Fresh fractal level at 1.5562 (R1) prevents further gains. Successful clearance here would suggest next intraday targets at 1.5580 (R2) and 1.5597 (R3). Downwards scenario: On the downside, next support level locates at 1.5530 (S1). Possible penetration below this mark would open way towards to next target at 1.5513 (S2) and then any further market decline would be limited to last mark at 1.5496 (S3).
Resistance Levels: 1.5562, 1.5580, 1.5597
Support Levels: 1.5530, 1.5513, 1.5496
-----------------------
USDJPY :
HIGH 99.703 LOW 99.302 BID 99.555 ASK 99.557 CHANGE 0.24% TIME 08 : 44:18
https://support.fxcc.com/email/technical/03092013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Instrument gained momentum on the upside recently, turning short-term bias to the positive side. Next resistive structure on the way lies at 99.71 (R1), break here would suggest next intraday targets at 99.93 (R2) and 100.15 (R3). Downwards scenario: Failure to establish positive bias today would shift our focus to the next support level at 99.29 (S1). Clearance here would open way towards to next targets at 99.06 (S2) and 98.82 (S3).
Resistance Levels: 99.71, 99.93, 100.15
Support Levels: 99.29, 99.06, 98.82
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Sep 04 2013
New Syria resolution in Senate sets 90-day deadline for U.S. military action
A new use-of-force resolution for Syria sets a 60-day deadline, with one 30-day extension possible, for U.S. President Barack Obama to launch military strikes against Syria, reports Politico from a revised draft authorization, also adding it will also bar the involvement of U.S. ground forces in Syria. As Politico adds: "The revised resolution was crafted by Sens. Robert Menendez (D-N.J.) and Bob Corker (R-Tenn.), the chairman and ranking member of the Foreign Relations Committee, following several days of negotiations." The proposal could go for voting by Wednesday.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-09-04 09:00 GMT | EMU Gross Domestic Product s.a. (YoY) (Q2)
2013-09-04 12:30 GMT | US Trade Balance (Jul)
2013-09-04 14:00 GMT | CA BoC Interest Rate Decision
2013-09-04 18:00 GMT | US Fed's Beige Book
FOREX NEWS :
2013-09-04 05:20 GMT | Deeply oversold EUR/GBP breaking all support and projections on downside
2013-09-04 05:14 GMT | USD/CHF is trading nearly its daily highs
2013-09-04 04:17 GMT | GBP/USD stuck below 1.5587 key hurdle ahead of Wednesday’s data
2013-09-04 04:00 GMT | EUR/USD, potential of a sharp test of 1.3050 - ANZ
-------------------------
EURUSD :
HIGH 1.31761 LOW 1.31619 BID 1.31678 ASK 1.31682 CHANGE -0.02% TIME 08 : 51:30
https://support.fxcc.com/email/technical/04092013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Price dip lower yesterday and finally stabilized near its local low. A violation of next resistance at 1.3194 (R1) might call for a run towards to next target at 1.3215 (R2) and any further appreciation would then be limited to final target at 1.3235 (R3). Downwards scenario: Fresh low formed today offers an important resistive measure at 1.3138 (S1). Break here is required to drive market price towards to next visible targets at 1.3117 (S2) and 1.3097 (S3) later on today.
Resistance Levels: 1.3194, 1.3215, 1.3235
Support Levels: 1.3138, 1.3117, 1.3097
-----------------------
GBPUSD :
HIGH 1.55677 LOW 1.5555 BID 1.55616 ASK 1.55621 CHANGE 0.01% TIME 08 : 51:30
https://support.fxcc.com/email/technical/04092013/GBPUSD.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Neutral tone remains favored on the hourly chart frame, however possible extension above the resistive measure at 1.5582 (R1) would suggest next intraday targets at 1.5597 (R2) and 1.5611 (R3). Downwards scenario: An evidence of possible descending structure could be provided if the pair manages to surpass key support level at 1.5543 (S1). In such case we would suggest next intraday targets at 1.5529 (S2) and 1.5514 (S3).
Resistance Levels: 1.5582, 1.5597, 1.5611
Support Levels: 1.5543, 1.5529, 1.5514
----------------------
USDJPY :
HIGH 99.769 LOW 99.418 BID 99.723 ASK 99.725 CHANGE 0.15% TIME 08 : 51:31
https://support.fxcc.com/email/technical/04092013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Market remains relatively stable above the moving averages. Clearance of next resistance level at 99.88 (R1) might initiates bullish pressure and expose our intraday targets at 100.15 (R2) and 100.41 (R3) later on today. Downwards scenario: Any downside extension is limited now to the next support level at 99.40 (S1). Below here we see potential for the price acceleration towards to next targets at 99.14 (S2) and 98.89 (S3).
Resistance Levels: 99.88, 100.15, 100.41
Support Levels: 99.40, 99.14, 98.89
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Sep 05 2013
Today's main event is the ECB meeting this afternoon
oday’s main event is the ECB meeting this afternoon. In our view, there are fewer arguments for a rate cut today than a month ago, given recent upside surprises in economic indicators and a slower pace of decline in excess liquidity (see ECB Preview: Keep the powder dry). Hence, we expect the ECB to keep rates unchanged and Draghi to refrain from explaining further the forward guidance.
The EUR/USD is trading downwards ahead of ECB and G20 meeting, but still remains above its 200-day moving average. Will the EUR/USD finally manage to break its 200-day MA at 1.3144? The pair is under pressure again, after a short relief in Wednesday’s trading session. The global equities rally rounded out by the biggest advance for the US Indexes in two weeks, pushed downwards the American dollar on Wednesday, i.e. the single currency got a small relief yesterday. Still, risk over the next 48 hours is of great significance and should be considered more trend defining. The G20 meeting doesn’t have a definitely positive or negative outcome, but Friday’s NFPs do. For today’s ECB meeting, there are obviously many members of the Governing Council who want to convince the market that rate hikes are still an “illusion”. -FXstreet.com
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
24h All G20 Meeting
2013-09-05 11:00 GMT BoE Interest Rate Decision
2013-09-05 11:45 GMT ECB Interest Rate Decision
2013-09-05 12:30 GMT ECB Monetary policy statement and press conference
FOREX NEWS :
2013-09-05 05:36 GMT EUR/USD still under pressure ahead of ECB meeting
2013-09-05 05:34 GMT USD/JPY now at key resistance at 99.94 after rally of the last hour
2013-09-05 04:42 GMT EUR/GBP glued to 0.8450 ahead of BoE & ECB
2013-09-05 04:24 GMT GBP/JPY confined in a tight range
EURUSD :
HIGH 1.32076 LOW 1.31644 BID 1.31689 ASK 1.31694 CHANGE -0.29% TIME 08 : 44:52
https://support.fxcc.com/email/technical/05092013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EURUSD gained momentum on the downside recently and likely will close on the negative territory today. However, clearance of our next resistive structure at 1.3200 (R1) would open way towards to our initial target at 1.3218 (R2) and any further market rise would then be targeting 1.3235 (R3). Downwards scenario: Possible market weakening is protected by important technical level at 1.3157 (S1). Break here is required to open road towards to interim target at 1.3138 (S2) en route to final aim at 1.3119 (S3).
Resistance Levels: 1.3200, 1.3218, 1.3235
Support Levels: 1.3157, 1.3138, 1.3119
------------------------
GBPUSD :
HIGH 1.56275 LOW 1.55956 BID 1.56032 ASK 1.56038 CHANGE -0.13% TIME 08 : 44:53
https://support.fxcc.com/email/technical/05092013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Measures of resistance might be activating if the pair approaches 1.5636 (R1) price level. Break here would suggest next interim target at 1.5652 (R2) and If the price keeps its momentum we expect an exposure of 1.5670 (R3). Downwards scenario: Our next support level locates at 1.5593 (S1) mark. Possible penetration below this level would open way towards to next target at 1.5575 (S2) and then final aim lie at 1.5557 (S3) price level.
Resistance Levels: 1.5636, 1.5652, 1.5670
Support Levels: 1.5593, 1.5575, 1.5557
----------------------
USDJPY :
HIGH 99.982 LOW 99.644 BID 99.852 ASK 99.857 CHANGE 0.12% TIME 08 : 44:54
https://support.fxcc.com/email/technical/05092013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Market trapped to the consolidation phase after initial uptrend development. Further buying interest might occur above the resistance at 100.15 (R1). Our initial targets locates at 100.41 (R2) and 100.66 (R3) Downwards scenario: On the other side, depreciation below the supportive measure at 99.53 (S1) would confirm bearish medium-term tendency and validate our next intraday targets at 99.27 (S2) and 98.99 (S3) in potential.
Resistance Levels: 100.15, 100.41, 100.66
Support Levels: 99.53, 99.27, 98.99
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Sep 06 2013
ECB's Draghi reiterates forward guidance on rates
At the press conference following the ECB Governing Council's decision to keep interest rates unchanged at 0.5% in September, president Mario Draghi reiterated that key interest rates would remain at the current or lower levels for an extended period of time.He stressed that economic activity in the Eurozone is improving, as confidence indicators show, and that the ECB is ready to support the recovery with its accommodative monetary policy. Current geopolitical tensions are one of the main threats to the recovery, he said. Inflation in the Eurozone is low and should remain at this level in the coming months. Upside risks on inflation are connected with higher indirect taxes and commodity prices, while downside risks stem from weaker growth. The ECB has risen its Eurozone 2013 growth forecast to -0.4% from -0.6% and lowered the projection for 2014 to 1% from 1.1%. As far as inflation is concerned, the forecast for 2013 was hiked to 1.5% from 1.4% this year and left unchanged at 1.3% for 2014. Mario Draghi also stressed the importance of setting up the banking union quickly, as "weak loan dynamics continue to reflect the current state of the business cycle."
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-09-06 08:30 GMT | UK. Consumer Inflation Expectations
2013-09-06 12:30 GMT | US. Nonfarm Payrolls (Aug)
2013-09-06 12:30 GMT | CA. Unemployment Rate (Aug)
2013-09-06 14:00 GMT | Uk. NIESR GDP Estimate (3M) (Aug)
FOREX NEWS :
2013-09-06 05:29 GMT | USD/JPY close to 100.00 area ahead of NFP
2013-09-06 04:17 GMT | USD eases in Asia ahead of NFP; Yen strengthens
2013-09-06 03:57 GMT | Technicians need gold to break 1,351.60 to validate bearish call
2013-09-06 02:51 GMT | Sell EUR/USD into 1.3150, TP 1.3090 ahead of NFP - JPMorgan
EURUSD :
HIGH 1.31384 LOW 1.31161 BID 1.31310 ASK 1.31315 CHANGE 0.09% TIME 08 : 50:06
https://support.fxcc.com/email/technical/06092013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: On the upside, fractals level at 1.3156 (R1) offers an important resistive structure. Any penetration above that level would suggest next intraday targets at 1.3179 (R2) and 1.3202 (R3). Downwards scenario: As long as price stays below the 20 SMA our technical outlook would be negative. Extension lower the key support level at 1.3110 (S1) is being able to drive market price towards to our next targets at 1.3087 (S2) and 1.3065 (S3).
Resistance Levels: 1.3156, 1.3179, 1.3202
Support Levels: 1.3110, 1.3087, 1.3065
------------------
GBPUSD :
HIGH 1.56133 LOW 1.55862 BID 1.56054 ASK 1.56059 CHANGE 0.1% TIME 08 : 50:07
https://support.fxcc.com/email/technical/06092013/GBPUSD.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: GBPUSD stabilized on the hourly chart however appreciation above the next resistance at 1.5627 (R1) might be a good catalyst for an upwards formation towards to next targets at 1.5647 (R2) and 1.5666 (R3). Downwards scenario: On the other hand, new phase of retracement formation might commence below the important support level at 1.5572 (S1). Break here is required to validate our targets at 1.5552 (S2) and 1.5531 (S3) later on today.
Resistance Levels: 1.5327, 1.5647, 1.5666
Support Levels: 1.5572, 1.5552, 1.5531
-----------------
USDJPY :
HIGH 100.225 LOW 99.695 BID 99.735 ASK 99.739 CHANGE -0.37% TIME 08 : 50:07
https://support.fxcc.com/email/technical/06092013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Upside risk aversion is seen above the next resistance level at 100.15 (R1). Appreciation above it might lead to the positive intraday bias formation towards to our next targets at 100.44 (R2) and 100.73 (R3) in potential. Downwards scenario: Any downside extension is limited now to the next support level at 99.56 (S1). Below here we see potential for the price regress towards to next targets at 99.29 (S2) and 99.00 (S3).
Resistance Levels: 100.15, 100.44, 100.73
Support Levels: 99.56, 99.29, 99.00
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Sep 10 2013
EUR/USD up around 1.3270 on China
The shared currency is extending its ascent on Tuesday, lifting the EUR/USD to the area of 1.3270 on upbeat tone from the Chinese economy.China continues to be the main driver for the risk appetite trends in the first half of the week, after Industrial Production, Retail Sales and Urban Investment figures all surpassed expectations during August, giving extra oxygen to the risk-associated assets in general. In the opinion of Westpac Global Strategy Group, “The 55, 100 and 200 day moving averages have converged in the 1.3140-90 range, with the runup to 1.34 an increasingly distant memory. ECB president Draghi’s mood last week was gloomier than expected, adding to our bias to sell into the 1.32-1.33 region. However, US data has been too soft to inspire much fresh USD buying, leaving 1.3100 intact for now”.
At the moment the pair is gaining 0.09% at 1.3268 with the next resistance at 1.3279 (Kijun Line) ahead of 1.3298 (low Aug.22) and then 1.3322 (low Aug.27). On the downside, a break below 1.3157 (low Sep.9) would target 1.3104 (50% of 1.2755-1.3453) en route to 1.3089 (low Jul.19).
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
N/A UK 30-y Bond Auction
2013-09-10 08:00 GMT | IT Gross Domestic Product (YoY) (Q2)
2013-09-10 12:15 GMT | CA Housing Starts s.a (YoY) (Aug)
2013-09-10 17:00 GMT | US 3-Year Note Auction
FOREX NEWS :
2013-09-10 05:40 GMT | Time for another leg up in USD/JPY - RBS
2013-09-10 05:21 GMT | EUR likely to be supported on dips - JPMorgan
2013-09-10 05:02 GMT | AUD/USD, risk is high of a further squeeze up towards 0.9500 - RBS
2013-09-10 04:25 GMT | USD/CHF holding ground above 0.9307 support despite Friday’s bearish candle
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EURUSD :
HIGH 1.32725 LOW 1.32502 BID 1.32676 ASK 1.32681 CHANGE 0.1% TIME 08 : 54:03
https://support.fxcc.com/email/technical/10092013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Current price setup might suggest retracement formation in near term perspective, however, if the price get acceleration on the upside and manages to surpass our resistive measure at 1.3281 (R1), we would suggest next targets at 1.3297 (R2) and 1.3313 (R3). Downwards scenario: Clearance of our support at 1.3248 (S1) is required to determine negative intraday bias and enable lower target at 1.3230 (S2) and then any further market depreciation would suggest final target at 1.3213 (S3).
Resistance Levels: 1.3281, 1.3297, 1.3313
Support Levels: 1.3248, 1.3230, 1.3213
------------------------
GBPUSD :
HIGH 1.57086 LOW 1.56856 BID 1.57056 ASK 1.57059 CHANGE 0.08% TIME 08 : 54:04
https://support.fxcc.com/email/technical/10092013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: Further positive bias development would face next resistive measure at 1.5731 (R1). If the price manages to overcome it we would suggest next intraday targets at 1.5751 (R2) and 1.5772 (R3). Downwards scenario: Successful retest of our next support level at 1.5680 (S1) might provide sufficient momentum for the price acceleration towards to interim target at 1.5658 (S2) and then final aim for today could be exposed at 1.5637 (S3).
Resistance Levels: 1.5731, 1.5751, 1.5772
Support Levels: 1.5680, 1.5658, 1.5637
----------------------
USDJPY :
HIGH 99.757 LOW 99.477 BID 99.628 ASK 99.630 CHANGE 0.06% TIME 08 : 54:05
https://support.fxcc.com/email/technical/10092013/USDJPY.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low
Upwards scenario: Current price setup might suggest range mode development in near term perspective. Though If the price manages to surpass our resistive measure at 99.88 (R1), we would suggest next targets at 100.18 (R2) and 100.47 (R3). Downwards scenario: Possible downside expansion is protected by support level at 99.33 (S1), break here would put bullish oriented traders on hold. Marks at 99.04 (S2) and 98.75 (S3) acts as our initial targets today.
Resistance Levels: 99.88, 100.18, 100.47
Support Levels: 99.33, 99.04, 98.75
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Sep 12 2013
Barroso calls for quick implementation of Eurozone banking union
Europe is on a road to recovery, but efforts must still be made to prop it up, president of the European Commission José Manuel Barroso said on Wednesday, delivering the annual State of the Union speech. He listed unemployment as the the most burning issue to solve, as its current level is “economically unsustainable, politically untenable and socially unacceptable.” Speaking at the European Parliament in Strasbourg, Barroso pointed to the recent improvements in the European financial markets as well as the better situation in Greece. “For Europe, recovery is within sight. Let's not overestimate the progress, but neither should we underestimate what has been done,” he said.
He called for a quicker implementation of the Eurozone banking union, which would help boost growth and employment. Finalizing discussions on the next EU budget was also listed as a top priority. Furthermore, Barroso stressed the need for a tighter political union, suggesting that “Europe must focus on where it can add most value. It needs to be big on big things and smaller on smaller things.” The European Commission president also referred to the chemical attack in Syria, which the EU condemns but still hopes to see the a conflict resolved through a negotiated settlement.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-09-12 08:00 GMT | ECB Monthly Report
2013-09-12 09:00 GMT | UK Inflation Report Hearings
2013-09-12 11:40 GMT | ECB President Draghi's Speech
2013-09-12 12:30 GMT | US Initial Jobless Claims
FOREX NEWS :
2013-09-12 05:33 GMT | AUD/USD falls apart on softest Australian jobs data
2013-09-12 05:26 GMT | Gold teetering on the brink above 1,351.60 key support
2013-09-12 05:07 GMT | Overbought GBP/USD buoyant at 1.5835 ahead of data / events
2013-09-12 04:50 GMT | EUR/GBP threatening the 0.84 big support
---------------------
EURUSD
HIGH 1.33241 LOW 1.33041 BID 1.33043 ASK 1.33047 CHANGE -0.05% TIME 08 : 53:11
https://support.fxcc.com/email/technical/12092013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: On the upside potential is seen for a break above the resistance at 1.3325 (R1). In such case we would suggest next target at 1.3339 (R2) and any further rise would then be limited to final resistance at 1.3354 (R3). Downwards scenario: Instrument looks overbought and we expect to see some consolidation pattern ahead. Risk of possible price regress is seen below the support level at 1.3299 (S1). Break here would suggest lower targets at 1.3283 (S2) and 1.3268 (S3) in potential.
Resistance Levels: 1.3325, 1.3339, 1.3354
Support Levels: 1.3299, 1.3283, 1.3268
-------------------
GBPUSD :
HIGH 1.58316 LOW 1.58131 BID 1.58144 ASK 1.58146 CHANGE -0.01% TIME 08 : 53:12
https://support.fxcc.com/email/technical/12092013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Mark at 1.5837 (R1) acts as next resistive barrier on the way if the pair keeps it upside potential. Break here is required to achieve higher targets at 1.5861 (R2) and 1.5886 (R3) later on today. Downwards scenario: Medium term bias is clearly positive however we expect recovery action if the price manages to overcome key supportive bastion at 1.5800 (S1). In such case we would suggest next intraday targets at 1.5775 (S2) and 1.5748 (S3).
Resistance Levels: 1.5837, 1.5861, 1.5886
Support Levels: 1.5800, 1.5775, 1.5748
------------------------
USDJPY :
HIGH 99.99 LOW 99.394 BID 99.493 ASK 99.495 CHANGE -0.39% TIME 08 : 53:13
https://support.fxcc.com/email/technical/12092013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: USDJPY tested negative territory today though appreciation above the resistive structure at 99.69 (R1) might shift short-term tendency to the bullish side and validate our intraday targets at 99.88 (R2) and 100.08 (R3). Downwards scenario: Failure to establish corrective structure might lead to further downtrend evolvement later on today. Penetration below the support at 99.33 (S1) would suggest next intraday targets at 99.14 (S2) and 98.96 (S3) in perspective.
Resistance Levels: 99.69, 99.88, 100.08
Support Levels: 99.33, 99.14, 98.96
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Sep 13 2013
Countdown for QE taper fireworks is on!
The judgment day for the Fed, Sept 17, is nearing, and the market is preparing accordingly for what may represent the most important monetary policy decision taken in years, as the start of QE taper gets kick-started. Even if the next FOMC meeting comes on the back of a rather disappointing NFP past Friday, the communication strategy carried out by Chairman Ben Bernanke & Co. so far suggest that some sort of light taper should be expected, or else the sell-off in the USD might be one that make headlines all over the world. According to Adam Button, Editor at Forexlive, "The market has settled on $10 billion as the most-likely size for the Fed’s taper next week", anticipating that "larger and the dollar will rally hard, smaller and it will fall."
Meanwhile, Treasury traders seem to be perceive the taper being priced in less than 10bln, which makes a bullish case for a stronger USD for those supporting odds for a more aggressive taper. If this scenario happens to be true, some long USD plays vs other G10 currencies such as the NZD, EUR or even the CAD, might be a great play based on this assumption. As Button notes: "I think it’s clear that a taper is coming but the Fed could still change its mind on the size and the messages that accompany it. Two reports in the days ahead could change their thinking: retail sales on Friday and the CPI on Monday."
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
24h | EMU EcoFin Meeting
2013-09-13 12:30 GMT | US Retail Sales (MoM) (Aug)
2013-09-13 13:55 GMT | US Reuters/Michigan Consumer Sentiment Index (Sep)
2013-09-13 14:00 GMT | US Business Inventories (Aug)
FOREX NEWS :
2013-09-13 05:17 GMT | GBP/USD little moved after Carney, US job data
2013-09-13 04:52 GMT | NZD/USD faces formidable 0.8150/70 tech resistance
2013-09-13 04:39 GMT | USD stronger ahead of US retail sales; Gold stalls
2013-09-13 04:38 GMT | EUR/USD capped by 1.3300
EURUSD :
HIGH 1.33022 LOW 1.32644 BID 1.32677 ASK 1.32680 CHANGE -0.23% TIME 08 : 40:28
https://support.fxcc.com/email/technical/13092013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Possibility of market strengthening is seen above the immediate resistive barrier at 1.3286 (R1). Clearance here would suggest next interim target at 1.3302 (R2) and then final aim locates at 1.3317 (R3). Downwards scenario: Further downside extension might face next supportive barrier at 1.3256 (S1). Clearance here is required to open the way towards to interim target at 1.3240 (S2) and any further price regress would then be targeting 1.3225 (S3).
Resistance Levels: 1.3286, 1.3302, 1.3317
Support Levels: 1.3256, 1.3240, 1.3225
--------------------
GBPUSD :
HIGH 1.58117 LOW 1.57766 BID 1.57812 ASK 1.57816 CHANGE -0.14% TIME 08 : 40:29
https://support.fxcc.com/email/technical/13092013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: GBPUSD tested negative side recently, however we see potential to test resistive barrier at 1.5812 (R1) later on today. Successful penetration above that level would suggest next intraday targets at 1.5838 (R2) and 1.5864 (R3) later on today. Downwards scenario: In terms of technical levels, risk of price depreciation is seen below the support level at 1.5775 (S1). Loss here would suggest to monitor marks at 1.5750 (S2) and 1.5725 (S3) as possible intraday targets.
Resistance Levels: 1.5812, 1.5838, 1.5864
Support Levels: 1.5775, 1.5750, 1.5725
--------------------------
USDJPY :
HIGH 99.976 LOW 99.418 BID 99.861 ASK 99.866 CHANGE 0.33% TIME 08 : 40:29
https://support.fxcc.com/email/technical/13092013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Further price appreciation is a likely scenario for today according to the technical readings. If the pair manages to clear the barrier at 100.08 (R1), we would suggest next targets at 100.24 (R2) and 100.40 (R3). Downwards scenario: Our next supportive barrier lies at 99.72 (S1). Break here is required to enable downside expansion towards to our intraday targets at 99.54 (S2) and 99.36 (S3) in potential.
Resistance Levels: 100.08, 100.24, 100.40
Support Levels: 99.72, 99.54, 99.36
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Sep 16 2013
US and Russia outline diplomatic framework on Syria
Asian markets reacted positively at the open, cheering up what is perceived as a headline likely to fuel risk-on appetite, as news hit the wires on a political U.S. / Russia deal for the Syrian crisis over the weekend. Despite the easing in geopolitical tensions, there are still claims from both sides of the political spectrum in the U.S. implying the deal with Russia is a defeat by the US administration. In an interview with ABC over the weekend, Obama said limited military action should not be rule out just yet, should the Assad regime not comply to disarm its chemical arsenal. In a joint news conference between US Secretary of State John Kerry and Russian Foreign Minister Sergei Lavrov, a framework document for Syria to surrender its chemical stockpiles was outlined, with Kerry calling Assad to live up to its commitments.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-09-16 08:00 GMT | EMU ECB President Draghi's Speech
2013-09-16 09:00 GMT | EMU Consumer Price Index - Core (YoY) (Aug)
2013-09-16 09:00 GMT | EMU Labour cost (Q2)
2013-09-16 13:15 GMT | US Industrial Production (MoM) (Aug)
FOREX NEWS :
2013-09-16 05:07 GMT | GBP/USD flirting with 1.6000 on risk-on sentiment
2013-09-16 04:40 GMT | Expecting a $20bn Fed taper - RBS
2013-09-16 04:11 GMT | USD/CHF trading just above 0.9230 support after Fed / Summers news
2013-09-16 03:51 GMT | EUR/USD spikes on much more dovish Yellen
EURUSD :
HIGH 1.33822 LOW 1.33551 BID 1.33622 ASK 1.33627 CHANGE 0.49% TIME 08 : 34:20
https://support.fxcc.com/email/technical/16092013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Our next resistance level is placed at 1.3384 (R1). Break here would open route towards to higher target at 1.3405 (R2) and any further price advance would then be limited to 1.3426 (R3). Downwards scenario: On the other hand, prolonged movement below the supportive measure at 1.3339 (S1) is required to activate new phase of downtrend expansion. We would suggest next aim at 1.3318 (S2) and then final target could be met at 1.3295 (S3).
Resistance Levels: 1.3384, 1.3405, 1.3426
Support Levels: 1.3339, 1.3318, 1.3295
------------------------
GBPUSD :
HIGH 1.59576 LOW 1.59302 BID 1.59529 ASK 1.59535 CHANGE 0.5% TIME 08 : 34:20
https://support.fxcc.com/email/technical/16092013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: GBPUSD is approaching our next resistive measure at 0.5971 (R1) on the upside. Break here is required to enable bullish potential and expose our interim target at 1.6000 (R2). Further price appreciation would then be limited to last resistance at 1.6030 (R3). Downwards scenario: On the other hand, price devaluation below the support at 1.5919 (S1) would initiate bearish pressure. On the way our next interim support at 1.5889 (S2) en route to final aim for today at 1.5858 (S3).
Resistance Levels: 1.5971, 1.6000, 1.6030
Support Levels: 1.5919, 1.5889, 1.5858
---------------------
USDJPY :
HIGH 99.104 LOW 98.456 BID 98.925 ASK 98.928 CHANGE -0.44% TIME 08 : 34:24
https://support.fxcc.com/email/technical/16092013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: Discounted value of USDJPY determined negative bias on the medium-term perspective. From the technical side, next resistance is seen at 99.11 (R1). Only clearance here would allow possible gains, targeting 99.33 (R2) and 99.54 (R3). Downwards scenario: Risk of the market decline is seen below the support level at 98.44 (S1). Break here is required to open the way towards to immediate supports at 98.25 (S2) and 98.04 (S3).
Resistance Levels: 99.11, 99.33, 99.54
Support Levels: 98.44, 98.25, 98.04
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Sep 17 2013
The Fed to maintain forward guidance with firm tone, says Hilsenrath
The Federal Reserve is struggling to justify extending forward guidance as part of its strategy to maintain the recovery path according to Fedwatcher Jon Hilsenrath in his latest article on the FOMC policy meeting. The FOMC is expected to publish its interest rate and monetary policy decision on Wednesday September 18 and market is widely expecting the Fed to start its cut in the bond buying program. The Fedwatcher affirmed in his piece that "Federal Reserve officials face a communication challenge explaining their interest-rate plans when they gather for a policy meeting this week."
Their challenge is "how to justify the low interest-rate plan when their own estimates suggest an economy regaining its health." According to Hilsenrath, Fed forecasts could show "rates rising but still low" by 2016. The Fed also expects economy at "full employment" by the same year. The decision on QE tapering the $85 billion-a-month bond-buying program is now a close call "on whether to start pulling back on the QE." The Fed is now changing its emphasis from bond buying to the "low-rate pledge."
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-09-17 08:30 GMT : UK Consumer Price Index (YoY) (Jul)
2013-09-17 09:00 GMT : EMU ZEW Survey - Economic Sentiment (Aug)
2013-09-17 12:30 GMT : US Consumer Price Index (YoY) (Aug)
2013-09-17 13:00 GMT : US Net Long-Term TIC Flows (Jul)
FOREX NEWS :
2013-09-17 05:29 GMT : NZD/USD downwards in tandem with “Aussie”
2013-09-17 04:43 GMT : EUR/USD sails below EMA20 - extending trading range
2013-09-17 04:43 GMT : EUR/GBP still under the 0.84 handle ahead of German ZEW & UK CPI
2013-09-17 04:16 GMT : AUD/JPY pops up after RBA minutes
-----------------
EURUSD :
HIGH 1.33422 LOW 1.33252 BID 1.33396 ASK 1.33398 CHANGE 0.04% TIME 08 : 56:12
https://support.fxcc.com/email/technical/17092013/EURUSD.png
OUTLOOK SUMMARY Up
TREND CONDITION Upward penetration
TRADERS SENTIMENT Bullish
IMPLIED VOLATILITY High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Current price setup is looking for upwards extension possibility. Risk of the price acceleration is seen above the key resistance level at 1.3361 (R1). Clearance here would put immediate focus on the next targets at 1.3384 (R2) and then 1.3405 (R3). Downwards scenario: Our next support level is placed at 1.3321 (S1). Possible penetration below it might initiate bearish pressure and gradually push the price towards to our intraday targets at 1.3298 (S2) and 1.3275 (S3).
Resistance Levels: 1.3361, 1.3384, 1.3405
Support Levels: 1.3321, 1.3298, 1.3275
--------------------
GBPUSD :
HIGH 1.59151 LOW 1.58884 BID 1.59091 ASK 1.59098 CHANGE 0.08% TIME 08 : 56:13
https://support.fxcc.com/email/technical/17092013/GBPUSD.png
OUTLOOK SUMMARY Up
TREND CONDITION Downward penetration
TRADERS SENTIMENT Bearish
IMPLIED VOLATILITY High
Upwards scenario: GBPUSD resumed upwards penetration today and we see potential to expose our intraday targets at 1.5996 (R2) and 1.6030 (R3) if the price manages to overcome key resistance measure at 1.5964 (R1). Downwards scenario: Though, we still keep the bearish scenario in focus. Risk of market decline is seen below the key support level at 1.5888 (S1). Loss here would enable initial targets at 1.5853 (S2) and 1.5818 (S3).
Resistance Levels: 1.5964, 1.5996, 1.6030
Support Levels: 1.5888, 1.5853, 1.5818
-------------------------
USDJPY :
HIGH 99.358 LOW 99.009 BID 99.145 ASK 99.147 CHANGE 0.1% TIME 08 : 56:14
https://support.fxcc.com/email/technical/17092013/USDJPY.png
OUTLOOK SUMMARY Down
TREND CONDITION Upward penetration
TRADERS SENTIMENT Bearish
IMPLIED VOLATILITY Medium
Upwards scenario: Price strengthening is possible above the next resistance level at 99.36 (R1). Our interim target holds at 99.56 (R2) en route to our final aim for today at 99.77 (R3). Downwards scenario: However if the price manages to break our key support level at 99.00 (S1) bearish market participants might take the initiative. Our intraday support level locates at 98.79 (S2) and 98.58 (S3).
Resistance Levels: 99.36, 99.56, 99.77
Support Levels: 99.00, 98.79, 98.58
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Sep 18 2013
All eyes on the Fed as investors weigh September taper odds
As the September Fed monetary policy meeting is drawing near, the debate on the FOMC's possible decision to start scaling back the asset purchase program is becoming more and more heated. Recent developments, such as the disappointing August NFP numbers, as well as the ongoing Syrian conflict, have shaken economists' confidence as to whether the QE taper will really be initiated next week. “With a job market 'far from satisfactory' and a promise to adjust monetary policy depending on economic conditions, it would not be a surprise if the Fed postpones the reduction of monthly asset purchases until the next meeting in late October,” Ilian Yotov suggests. Alexandra Estiot also doesn't expect the Fed to make the move at the upcoming meeting, reasoning that “the likeliness of inflation pressures showing up is close to zero,” which means “the cost, in terms of inflation, of ending QE3 too late is nil, while the benefits, even if very difficult to clearly assess, are positive.” Despite the doubts about whether the Fed will start reducing QE in September, all of the economists agree with Steve Ruffley that the FOMC “are planning to taper by the end of the year and nothing will change this.”
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-09-18 08:30 GMT | Bank of England Minutes
2013-09-18 18:00 GMT | US Fed Interest Rate Decision
2013-09-18 18:30 GMT | US Fed's Monetary Policy Statement and press conference
2013-09-18 22:45 GMT | NZ Gross Domestic Product (YoY) (Q2)
FOREX NEWS :
2013-09-18 05:21 GMT | USD/CHF muted ahead of FOMC minutes
2013-09-18 05:05 GMT | EUR/USD rebounds from ST dip but remains below 1.3432 ceiling ahead of US data / news
2013-09-18 04:58 GMT | EUR/GBP battling to recover the 0.84 handle ahead of BoE
2013-09-18 04:32 GMT | GBP/USD holding below the flat line ahead of BOE minutes and FOMC fun
-------------------------
EURUSD :
HIGH 1.33639 LOW 1.33468 BID 1.33619 ASK 1.33621 CHANGE 0.03% TIME 08 : 43:12
https://support.fxcc.com/email/technical/18092013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EURUSD trapped to the consolidation mode on the hourly chart frame after the initial uptrend formation. Next resistive barrier is seen at 1.3384 (R1), break here is required to enable next attractive points at 1.3405 (R2) and 1.3427 (R3). Downwards scenario: Yesterday low offers a key supportive measure at 1.3324 (S1). A violation here is liable to commence correction pattern on the bigger picture and expose our initial targets at 1.3301 (S2) and 1.3275 (S3).
Resistance Levels: 1.3384, 1.3405, 1.3427
Support Levels: 1.3324, 1.3301, 1.3275
----------------------
GBPUSD :
HIGH 1.59146 LOW 1.58919 BID 1.59133 ASK 1.59136 CHANGE 0.07% TIME 08 : 43:13
https://support.fxcc.com/email/technical/18092013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Local high offers a key resistive barrier at 1.5936 (R1). Subsequently loss here might create upside momentum and drive market price towards to our initial targets at 1.5971 (R2) and 1.6008 (R3) in potential. Downwards scenario: On the other hand, depreciation below the support level at 1.5885 (S1) would suggest next intraday target at 1.5851 (S2) and any further weakening would then be limited to final support level at 1.5816 (S3).
Resistance Levels: 1.5936, 1.5971, 1.6008
Support Levels: 1.5885, 1.5851, 1.5816
-------------------
USDJPY :
HIGH 99.336 LOW 99.103 BID 99.194 ASK 99.197 CHANGE 0.08% TIME 08 : 43:13
https://support.fxcc.com/email/technical/18092013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: Possible bullish penetration might face next challenge at 99.38 (R1). Break here would suggest next target at 99.58 (R2) en route towards to last resistance for today at 99.77 (R3). Downwards scenario: On the downside, we see potential to positively retest our supportive measure at 99.03 (S1). Clearance here is required to open route towards to our initial targets at 98.84 (S2) and 98.64 (S3) in potential.
Resistance Levels: 99.38, 99.58, 99.77
Support Levels: 99.03, 98.84, 98.64
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Sep 19 2013
The Fed decides to maintain the status quo; No taper
The Federal Reserve has decided to maintain its interest rate unchanged at 0.25%. Same story with the bond buying pace at $85Bn as officials need more information that the economy is growing at a sustainable pace. According to a recent press release, the Fed affirms that the pace of bond purchases depends on the economic outlook. The inflation is still low, financial market conditions are tight while the fiscal retrenchment could be damaging, so the FOMC needs more signs of progress.
"Accordingly, the Committee decided to continue purchasing additional agency mortgage-backed securities at a pace of $40 billion per month and longer-term Treasury securities at a pace of $45 billion per month." The Fed has lowered its growth expectations and now officials forecast the US GDP to slowdown in 2016 to 2.5%-3.3% range, from 3.0%-3.5% in 2014. They see 2013 to show a 2.0%-2.3% growth in the United States. The unemployment rate is expected to finish the year around 7.2%-7.3% and to decline to 6.5%-6.8% in 2014, 5.8%-6.2% in 2015 and 5.4%-5.9% in 2016.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-09-19 07:30 GMT | SW SNB Interest Rate Decision
2013-09-19 08:30 GMT | UK Retail Sales (YoY) (Aug)
2013-09-19 14:00 GMT | US Existing Home Sales Change (MoM) (Aug)
2013-09-19 23:50 GMT | JP Foreign investment in Japan stocks (Sep 13)
FOREX NEWS :
2013-09-19 04:52 GMT | USD licking its wounds; China markets closed
2013-09-19 04:34 GMT | USD/CHF slightly lower at 0.9119 ahead of big data; ultimate dowside may be 0.9073
2013-09-19 04:33 GMT | Fed relies heavily on low yields regarding “tapering” – RBS
2013-09-19 04:18 GMT | AUD/USD slightly downwards but still dancing close to 0.9500 area
----------
EURUSD :
HIGH 1.3536 LOW 1.3501 BID 1.35318 ASK 1.35320 CHANGE 0.08% TIME 08 : 40:15
https://support.fxcc.com/email/technical/19092013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Medium-term bias is clearly bullish oriented, however, to resume ascending structure price is required to clear the barrier at 1.3543 (R1). Next on tap locates our intraday targets at 1.3567 (R2) and 1.3593 (R3).Downwards scenario: On the other hand, our next support measure lies at 1.3499 (S1). Decline below it would enable lower targets at 1.3474 (S2) and 1.3448 (S3).
Resistance Levels: 1.3543, 1.3567, 1.3593
Support Levels: 1.3499, 1.3474, 1.3448
-------------------
GBPUSD :
HIGH 1.61478 LOW 1.61146 BID 1.61302 ASK 1.61307 CHANGE -0.08% TIME 08 : 40:16
https://support.fxcc.com/email/technical/19092013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: On the upside market might get more incentives above the immediate resistive barrier at 1.6168 (R1). If the price manages to overcome it we would suggest next intraday targets at 1.6215 (R2) and 1.6264 (R3). Downwards scenario: Although market players may prefer to increase exposure on the short positions and push the price below the support level at 1.6089 (S1). Possible price devaluation would suggest initial targets at 1.6040 (S2) and then 1.5989 (S3).
Resistance Levels: 1.6168, 1.6215, 1.6264
Support Levels: 1.6089, 1.6040, 1.5989
----------------------
USDJPY :
HIGH 98.475 LOW 97.897 BID 98.280 ASK 98.282 CHANGE 0.37% TIME 08 : 40:16
https://support.fxcc.com/email/technical/19092013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: USDJPY is approaching our next resistance level at 98.51 (R1), keeping the short-term ascending structure intact. The break here is required for the price appreciation towards to next target at 98.86 (R2) and any further rise would then be targeting to 99.21 (R3). Downwards scenario: Negative developments might be settled below the important support level at 97.76 (S1). Any price action below it would then be targeting support level at 97.46 (S2) and then final target could be exposed at 97.14 (S3).
Resistance Levels: 98.51, 98.86, 99.21
Support Levels: 97.76, 97.46, 97.14
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Sep 20 2013
Asset purchase schemes remaining static.
As the tide went out on the shock decision by the FOMC regarding their asset purchase schemes remaining static, the markets in the USA appeared to pause for thought in Thursday's trading sessions. Looking at high impact news events the improved unemployment data was discounted given the fact that two states, including California, failed to proved jobs data as their computer systems were still off grid. Better news came in the form of house sales reaching a recent high, whilst the Philly Fed number came in off the scale in terms of positivity. The improved housing market news was added to by costs for U.S. home buyers predicted to fall from the highest level in two years after the Federal Reserve increased expectations that it will keep short-term interest rates at about zero percent. Rates on 30-year mortgages reached 4.93 percent in the week ended Sept 6th, the highest level seen since April 2011 and up from a record low of 3.57 percent in December, according to Mortgage Bankers Association data. The rate declined to 4.86 percent last week. Treasuries dropped the day after experiencing the biggest rally in two years as improved economic conditions made investors more certain that the Federal Reserve’s next move will be to reduce monetary stimulus. The 10-year yield rose six basis points or 0.06 percentage point to 2.75 percent late in the New York session. The price of the 2.5 percent note maturing in August 2023 dropped 17/32, or, $5.31 per $1,000 face value, to 97 26/32. The yield slid 16 basis points on Wednesday, the biggest decline since Oct 31st 2011.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-09-20 08:30 GMT | UK Public Sector Net Borrowing (Aug)
2013-09-20 12:30 GMT | CA Consumer Price Index (YoY) (Aug)
2013-09-20 14:00 GMT | EMU Consumer Confidence (Sep)
2013-09-20 16:30 GMT | US Fed's George Speech
FOREX NEWS :
2013-09-20 05:18 GMT | RBA likely to ease again; AUD to trade heavy - NAB
2013-09-20 05:15 GMT | GBP/USD bouncing modestly at 1.6042 after downside correction day Thursday
2013-09-20 05:11 GMT | GBP/JPY finds strong supply at 160 round
2013-09-20 04:38 GMT | EUR/GBP stalling below 0.8450 ahead of Germany elections
---------------------
EURUSD :
HIGH 1.35393 LOW 1.35279 BID 1.35354 ASK 1.35357 CHANGE 0.05% TIME 08 : 47:18
https://support.fxcc.com/email/technical/20092013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Next hurdle that limit uptrend development lies at 1.3569 (R1). If the break occurs here we would suggest next attractive point at 1.3598 (R2) and any further rise would then be limited to final resistance at 1.3628 (R3). Downwards scenario: We placed our support level right below the local low at 1.3507 (S1). Clearance here is liable to open way towards to our interim target at 1.3474 (S2) and then might expose final aim at 1.3440 (S3).
Resistance Levels: 1.3569, 1.3598, 1.3628
Support Levels: 1.3507, 1.3474, 1.3440
---------------------
GBPUSD :
HIGH 1.60462 LOW 1.60238 BID 1.60450 ASK 1.60454 CHANGE 0.09% TIME 08 : 47:19
https://support.fxcc.com/email/technical/20092013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Immediate resistance at 1.6082 (R1) remains in near-term focus, climb above this level might open way towards to next interim target at 1.6126 (R2) and any further rise would then be limited to final resistive measure at 1.6170 (R3) Downwards scenario: On the downside, next support level locates at 1.6021 (S1). Possible penetration below this mark would open way towards to next target at 1.5978 (S2) and then any further market decline would be limited to last mark at 1.5933 (S3).
Resistance Levels: 1.6082, 1.6126, 1.6170
Support Levels: 1.6021, 1.5578, 1.5933
USDJPY :
HIGH 99.562 LOW 99.174 BID 99.253 ASK 99.257 CHANGE -0.22% TIME 08 : 47:20
https://support.fxcc.com/email/technical/20092013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Possible uptrend development is limited now to the next resistive measure at 99.63 (R1). Clearance here is required to enable our interim target at 99.85 (R2) en route to final aim at 100.06 (R3). Downwards scenario: Penetration below the support level at 99.10 (S1) might maintain a negative tone in near term perspective. In such case we would suggest next supportive measures at 98.87 (S2) and 98.64 (S3) as possible retracement targets.
Resistance Levels: 99.63, 99.85, 100.06
Support Levels: 99.10, 98.87, 98.64
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Sep 23 2013
Merkel wins German election, arduous coalition talks ahead...
Asian traders bought up the Euro through interbank trading, following early evidence of what later was confirmed as the best result for Merkel's conservative party in a general election since 1990, with the Chancellor receiving around 42% of all votes to keep her post as one of the most powerful women on the globe for a third term. Despite the early enthusiasm, the excitement faded pretty quick, with traders deciding to be sidelined as Merkel still faces a tough road ahead, now having to engage on coalition negotiation to form a government - a process which may take weeks if not months - after Mekel's CDU fell very short from claiming an absolute majority.
As the quiet Asian session advanced, and with the Tokyo market closed due to public holidays, the only relevant headline to outline was the Chinese HSBC PMI, which came at a 6-month high, supporting the Australian Dollar across the board. On the commodity arena, metals were hammered yet again, following Fed's Bullard comments on Friday, which triggered the 'taper trade' again, after saying that the October FOMC meeting was still 'live' in terms of tapering.-FXstreet.com
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-09-23 07:28 GMT | DE Markit Services PMI (Sep)
2013-09-23 07:58 GMT | EMU Markit Manufacturing PMI (Sep)
2013-09-23 12:58 GMT | US Markit Manufacturing PMI (Oct)
2013-09-23 13:00 GMT | ECB President Draghi's Speech
FOREX NEWS :
2013-09-23 05:18 GMT | EUR/USD still indecisive just above flat line; 1.3534 is the level to conquer for the bulls
2013-09-23 05:02 GMT | GBP/JPY upwards amidst of a Tokyo-holiday session
2013-09-23 04:33 GMT | USD/CHF finishes “abc” upside correction at 0.9122; headed lower
2013-09-23 03:56 GMT | USD/JPY bracing for takeoff?
----------------
EURUSD :
HIGH 1.35459 LOW 1.35202 BID 1.35293 ASK 1.35297 CHANGE 0.02% TIME 08 : 40:09
https://support.fxcc.com/email/technical/23092013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Technically, next resistive structure lies at 1.3549 (R1). Break here is required to initiate upwards action towards to next target at 1.3583 (R2) and then final aim could be exposed at 1.3618 (R3). Downwards scenario: On the other hand, current range pattern on the hourly chart suggest possible retest of our supportive measure at 1.3507 (S1). Break here is required to open way towards to initial targets at 1.3474 (S2) and 1.3440 (S3).
Resistance Levels: 1.3549, 1.3583, 1.3618
Support Levels: 1.3507, 1.3474, 1.3440
--------------------
GBPUSD :
HIGH 1.60314 LOW 1.59929 BID 1.60220 ASK 1.60224 CHANGE 0.09% TIME 08 : 40:10
https://support.fxcc.com/email/technical/23092013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: On the upside resistive structure at 1.6044 (R1) prevents possible gains. Clearance here is required to open route towards to next target at 1.6075 (R2) and then final target could be triggered at 1.6106 (R3). Downwards scenario: Local low offers a key support level on the downside. A dip below the 1.5987 (S1) would suggest next intraday targets at 1.5956 (S2) and potentially 1.5925 (S3).
Resistance Levels: 1.6044, 1.6075, 1.6106
Support Levels: 1.5987, 1.5956, 1.5925
------------------
USDJPY :
HIGH 99.359 LOW 99.084 BID 99.117 ASK 99.119 CHANGE -0.2% TIME 08 : 40:11
https://support.fxcc.com/email/technical/23092013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Any upside actions looks limited now to resistive measure at 99.36 (R1). Break here is required to enable uptrend formation towards to higher target at 99.55 (R2). Final aim for today locates at 99.74 (R3). Downwards scenario: Fresh low formed today offers an important resistive measure at 99.04 (S1). Break here is required to drive market price towards to next visible targets at 98.86 (S2) and 98.69 (S3) later on today.
Resistance Levels: 99.36, 99.55, 99.74
Support Levels: 99.04, 98.86, 98.69
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Sep 23 2013
Merkel wins German election, arduous coalition talks ahead...
Asian traders bought up the Euro through interbank trading, following early evidence of what later was confirmed as the best result for Merkel's conservative party in a general election since 1990, with the Chancellor receiving around 42% of all votes to keep her post as one of the most powerful women on the globe for a third term. Despite the early enthusiasm, the excitement faded pretty quick, with traders deciding to be sidelined as Merkel still faces a tough road ahead, now having to engage on coalition negotiation to form a government - a process which may take weeks if not months - after Mekel's CDU fell very short from claiming an absolute majority.
As the quiet Asian session advanced, and with the Tokyo market closed due to public holidays, the only relevant headline to outline was the Chinese HSBC PMI, which came at a 6-month high, supporting the Australian Dollar across the board. On the commodity arena, metals were hammered yet again, following Fed's Bullard comments on Friday, which triggered the 'taper trade' again, after saying that the October FOMC meeting was still 'live' in terms of tapering.-FXstreet.com
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-09-23 07:28 GMT | DE Markit Services PMI (Sep)
2013-09-23 07:58 GMT | EMU Markit Manufacturing PMI (Sep)
2013-09-23 12:58 GMT | US Markit Manufacturing PMI (Oct)
2013-09-23 13:00 GMT | ECB President Draghi's Speech
FOREX NEWS :
2013-09-23 05:18 GMT | EUR/USD still indecisive just above flat line; 1.3534 is the level to conquer for the bulls
2013-09-23 05:02 GMT | GBP/JPY upwards amidst of a Tokyo-holiday session
2013-09-23 04:33 GMT | USD/CHF finishes “abc” upside correction at 0.9122; headed lower
2013-09-23 03:56 GMT | USD/JPY bracing for takeoff?
----------------
EURUSD :
HIGH 1.35459 LOW 1.35202 BID 1.35293 ASK 1.35297 CHANGE 0.02% TIME 08 : 40:09
https://support.fxcc.com/email/technical/23092013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Technically, next resistive structure lies at 1.3549 (R1). Break here is required to initiate upwards action towards to next target at 1.3583 (R2) and then final aim could be exposed at 1.3618 (R3). Downwards scenario: On the other hand, current range pattern on the hourly chart suggest possible retest of our supportive measure at 1.3507 (S1). Break here is required to open way towards to initial targets at 1.3474 (S2) and 1.3440 (S3).
Resistance Levels: 1.3549, 1.3583, 1.3618
Support Levels: 1.3507, 1.3474, 1.3440
--------------------
GBPUSD :
HIGH 1.60314 LOW 1.59929 BID 1.60220 ASK 1.60224 CHANGE 0.09% TIME 08 : 40:10
https://support.fxcc.com/email/technical/23092013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: On the upside resistive structure at 1.6044 (R1) prevents possible gains. Clearance here is required to open route towards to next target at 1.6075 (R2) and then final target could be triggered at 1.6106 (R3). Downwards scenario: Local low offers a key support level on the downside. A dip below the 1.5987 (S1) would suggest next intraday targets at 1.5956 (S2) and potentially 1.5925 (S3).
Resistance Levels: 1.6044, 1.6075, 1.6106
Support Levels: 1.5987, 1.5956, 1.5925
------------------
USDJPY :
HIGH 99.359 LOW 99.084 BID 99.117 ASK 99.119 CHANGE -0.2% TIME 08 : 40:11
https://support.fxcc.com/email/technical/23092013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Any upside actions looks limited now to resistive measure at 99.36 (R1). Break here is required to enable uptrend formation towards to higher target at 99.55 (R2). Final aim for today locates at 99.74 (R3). Downwards scenario: Fresh low formed today offers an important resistive measure at 99.04 (S1). Break here is required to drive market price towards to next visible targets at 98.86 (S2) and 98.69 (S3) later on today.
Resistance Levels: 99.36, 99.55, 99.74
Support Levels: 99.04, 98.86, 98.69
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Sep 24 2013
A tale of three central banks
Two European central bank presidents spoke on Monday concerning their overall relative responsibilities. European Central Bank President Mario Draghi said he’s prepared to release another long-term refinancing operation in order to provide funds to Europe’s banking system if and when needed. Unlike previous times after Mr Draghi has held court, the market reaction this time was muted. The Swiss franc is still highly valued and the central bank’s currency ceiling remains essential for safeguarding the economy, according to Swiss National Bank President Thomas Jordan in his statement on Monday. Therefore the loose peg, in relation to the value of the Swiss franc versus the euro, at circa 120, will remain in force until conditions change. The U.S. currency fell versus the majority of its sixteen major peers as a consequence of the Bank of Atlanta President Dennis Lockhart and others stating that Fed policy should focus on creating a more dynamic economy. Lockhart has continually backed the Fed’s $85 billion in monthly bond purchases that were retained last week.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-09-24 08:00 GMT | DE IFO - Business Climate (Sep)
2013-09-24 12:30 GMT | CA Retail Sales (MoM) (Jul)
2013-09-24 14:00 GMT | US Consumer Confidence (Sep)
2013-09-24 22:45 GMT | NZ Trade Balance (YoY) (Aug)
FOREX NEWS :
2013-09-24 05:16 GMT | EUR/USD churning above support of 1.3476 ahead of German data
2013-09-24 05:01 GMT | EUR/GBP struggles to maintain the 0.8400 support
2013-09-24 04:42 GMT | GBP/USD off slightly Tuesday after brief rally Monday; key support 1.5894
2013-09-24 03:59 GMT | USD/JPY pulling back away from 99.52 resistance as Yen sees safety inflows
--------------------
EURUSD :
HIGH 1.34985 LOW 1.3489 BID 1.34953 ASK 1.34955 CHANGE 0.02% TIME 08 : 47:25
https://support.fxcc.com/email/technical/24092013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Appreciation above the resistance at 1.3517 (R1) might commence new step of the ascending structure. Our intraday targets today are placed at 1.3538 (R2) and 1.3560 (R3). Downwards scenario: Any downside fluctuations remains for now limited to the next support level at 1.3478 (S1), only clear break here would be a signal of further market easing towards to next targets at 1.3458 (S2) and 1.3437 (S3) in potential.
Resistance Levels: 1.3517, 1.3538, 1.3560
Support Levels: 1.3478, 1.3458, 1.3437
---------------------------
GBPUSD :
HIGH 1.60443 LOW 1.60252 BID 1.60256 ASK 1.60261 CHANGE -0.1% TIME 08 : 47:26
https://support.fxcc.com/email/technical/24092013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Market price penetrated below the moving averages and likely close at the negative side today. Our next resistive measure lies at 1.6054 (R1), break here is required to achieve higher targets at 1.6083 (R2) and 1.6109 (R3). Downwards scenario: Possible market weakening is protected by important technical level at 1.6016 (S1). Break here is required to open road towards to interim target at 1.5989 (S2) en route to final aim at 1.5962 (S3).
Resistance Levels: 1.6054, 1.6083, 1.6109
Support Levels: 1.6016, 1.5989, 1.5962
-------------------
USDJPY :
HIGH 98.93 LOW 98.662 BID 98.921 ASK 98.923 CHANGE 0.08% TIME 08 : 47:27
https://support.fxcc.com/email/technical/24092013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: We expect possible upwards penetration. Break above the resistance at 98.93 (R1) would clear the way towards to higher target at 99.10 (R2). Further price appreciation would face then final resistive measure at 99.27 (R3) Downwards scenario: Our next support level locates at 98.63 (S1) mark. Possible penetration below this level would open way towards to next target at 98.47 (S2) and then final aim lie at 98.31 (S3) price level.
Resistance Levels: 98.93, 99.10, 99.27
Support Levels: 98.63, 98.47, 98.31
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Sep 25 2013
Aussie, kiwi heavy; Tokyo stained with red
Asian traders were rather inactive at the early going of Tokyo, with some Yen strength the main theme, yet as the session advanced, Aussie weakness also became dominant. In the US, following an uncertain and uneven Wall Street session after Fed’s comments on indefinite timing for bond-buying program, Asia registered mixed results in equity indexes with the Nikkei down 0.39%, pushing the yen higher. In New Zealand, the trade deficit expanded from $-771M to $-1191M beating estimates, for the worse, at $-743M. In Australia, the RBA said the banking system is liquid and in good shape and added the housing market data is strong and yet the Aussie remained heavy with slow progress upward.
Japan prepared for the tankan results next week and market participants remain on their feet to any governmental decision to increase the sales taxes as Prime Minister Abe announce a potential increase based on tankan results despite the Spring 2014 plans to proceed with the monetary policies. In the futures contracts realm, all metals printed gains with notably copper advancing on positive Chinese consumer data along with gold registering gains worth 0.66% for the first time in the week to reach $1,325.00.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-09-25 06:00 GMT | DE Gfk Consumer Confidence Survey (Oct)
2013-09-25 10:00 GMT | UK CBI Distributive Trades Survey - Realized (MoM) (Sep)
2013-09-25 12:30 GMT | US Durable Goods Orders (Aug)
2013-09-25 14:00 GMT | US New Home Sales (MoM) (Aug)
FOREX NEWS :
2013-09-25 05:05 GMT | EUR/USD threatening Tuesday low of 1.3463 ahead of Europe open
2013-09-25 04:47 GMT | USD/JPY has downside risks in coming months - JPMorgan
2013-09-25 04:24 GMT | AUD/USD is falling as “debt-ceiling” issue looms out
2013-09-25 03:36 GMT | Gold rallies off Tuesday low at 1305.50, but runs into wall at 1326.80
-------------------
EURUSD
HIGH 1.34809 LOW 1.34619 BID 1.34719 ASK 1.34722 CHANGE -0.01% TIME 08 : 47:09
https://support.fxcc.com/email/technical/25092013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Next resistive barrier locates at 1.3497 (R1). Violation here is required to provide a signal of further market strengthening. In such case, resistances at 1.3520 (R2) and 1.3542 (R3) acts as next attractive points for the bullish oriented traders. Downwards scenario: Further correction development might face next hurdle at 1.3458 (S1). Break here is required to open road towards to our next interim target at 1.3437 (S2), en route to final aim at 1.3415 (S3).
Resistance Levels: 1.3497, 1.3520, 1.3542
Support Levels: 1.3458, 1.3437, 1.3415
-------------------
GBPUSD :
HIGH 1.60039 LOW 1.59794 BID 1.59904 ASK 1.59911 CHANGE -0.07% TIME 08 : 47:09
https://support.fxcc.com/email/technical/25092013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: A violation of next resistance at 1.6021 (R1) might call for a run towards to next target at 1.6060 (R2) and any further appreciation would then be limited to final target at 1.6097 (R3). Downwards scenario: As long as price stays below the 20 SMA our technical outlook would be negative. Extension lower the key support level at 1.5954 (S1) is being able to drive market price towards to our next targets at 1.5912 (S2) and 1.5870 (S3).
Resistance Levels: 1.6021, 1.6060, 1.6097
Support Levels: 1.5954, 1.5912, 1.5870
-----------------
USDJPY :
HIGH 98.798 LOW 98.557 BID 98.680 ASK 98.682 CHANGE -0.06% TIME 08 : 47:10
https://support.fxcc.com/email/technical/25092013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Neutral tone remains favored on the hourly chart frame, however possible extension above the resistive measure at 98.92 (R1) would suggest next intraday targets at 99.07 (R2) and 99.21 (R3). Downwards scenario: On the other hand, new phase of downtrend formation might commence below the important support level at 98.56 (S1). Break here is required to validate our targets at 98.41 (S2) and 98.26 (S3) later on today.
Resistance Levels: 98.92, 99.07, 99.21
Support Levels: 98.56, 98.41, 98.26
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Sep 26 2013
SPX drop longest since 'fiscal cliff' debacle of December 2012
The SPX has dropped over 1.9 percent during the past five trading days as investors remain cautious as to whether or not the pending government shutdown will eventually harm USA economic growth. The current fall is now the longest witnessed on the index since Dec 28th 2012, when USA lawmakers clashed over the impending automatic spending cuts and tax increases known as the "fiscal cliff". Sterling advanced 0.4 percent to $1.6070 late in the London session after rising to $1.6163 on Sept 18th, which was the highest level seen since Jan 11th. The U.K. currency was little changed at 84.22 pence per euro after appreciating to 83.53 pence on Sept 18th, the strongest level seen since Jan 17th. Sterling strengthened towards its eight-month high versus the dollar after a gauge of U.K. retail sales from the UK's CBI increased in September, adding to signs the U.K. economy is improving, slowly. Sterling rose versus all of its 16 major counterparts before a report today that analysts believe will confirm that the U.K. economy expanded last quarter by the estimated 0.7%. The pound has in fact been the best performer during the past six months, appreciating 5.8 percent versus the dollar.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-09-26 08:30 GMT | UK Gross Domestic Product (YoY) (Q2)
2013-09-26 12:30 GMT | US Gross Domestic Product Annualized (Q2)
2013-09-26 14:00 GM | US Pending Home Sales (YoY) (Aug)
2013-09-26 23:30 GMT | JP National CPI Ex Food, Energy (YoY) (Aug)
FOREX NEWS :
2013-09-26 05:37 GMT | USD/JPY surges as Nikkei cracks the 14,500
2013-09-26 05:36 GMT | EUR/USD gathering steam for another upside move ahead of European
2013-09-26 04:28 GMT | GBP/USD consolidating big gains from Wednesday; first support 1.6046
2013-09-26 03:17 GMT | GBP/JPY propelled to 159.27 highs
-------------------
EURUSD
HIGH 1.35306 LOW 1.35116 BID 1.35209 ASK 1.35213 CHANGE -0.03% TIME 08 : 47:50
https://support.fxcc.com/email/technical/26092013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: An element of resistive measures could be found at 1.3538 (R1). Clearance here would suggest further uptrend development towards to our interim target at 1.3562 (R2). Final aim locates today at 1.3584 (R3). Downwards scenario: On the other side, depreciation below the support barrier at 1.3507 (S1) might provide sufficient space for the recovery action. In such case we would suggest next intraday targets at 1.3483 (S2) and then 1.3459 (S3).
Resistance Levels: 1.3538, 1.3562, 1.3584
Support Levels: 1.3507, 1.3483, 1.3459
----------------
GBPUSD
HIGH 1.60865 LOW 1.60671 BID 1.60771 ASK 1.60775 CHANGE -0.01% TIME 08 : 47:51
https://support.fxcc.com/email/technical/26092013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: On the upside, fractals level at 1.6090 (R1) offers an important resistive structure. Any penetration above that level would suggest next intraday targets at 1.6114 (R2) and 1.6137 (R3). Downwards scenario: On the other hand, our bearish expectations remain intact below the key support level at 1.6055 (S1). Price penetration below it would allow further declines towards to lower targets at 1.6031 (S2) and 1.6006 (S3).
Resistance Levels: 1.6090, 1.6114, 1.6137
Support Levels: 1.6055, 1.6031, 1.6006
-----------------
USDJPY
HIGH 99.11 LOW 98.269 BID 98.893 ASK 98.896 CHANGE 0.47% TIME 08 : 47:52
https://support.fxcc.com/email/technical/26092013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Market remains relatively stable above the moving averages. Clearance of next resistance level at 99.11 (R1) might initiates bullish pressure and expose our intraday targets at 99.26 (R2) and 99.42 (R3) later on today. Downwards scenario: Clearance of our support at 98.68 (S1) is required to determine negative intraday bias and enable lower target at 98.51 (S2) and then any further market depreciation would suggest final aim at 98.34 (S3).
Resistance Levels: 99.11, 99.26, 99.42
Support Levels: 98.68, 98.51, 98.34
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Sep 27 2013
USA Congress still at odds over debt ceiling
Despite the hope that the USA will eventually agree a new debt ceiling, U.S. Congress has failed to pass the necessary budget, Republicans and Democrats continue to disagree over whether to stop funding the 2010 health-care initiative known as Obamacare, thereby threatening a a government shutdown by Oct 1st. Equities rose in Thursday's trading sessions, with the Standard & Poor’s 500 Index rising by 0.4 percent to 1,698.67 at the close in the New York session. The yield on the 10-year Treasury note also climbed two basis points, or 0.02 percentage point, to 2.65 percent. Other data sets published on Thursday may have confirmed that the USA economy improved in the second quarter of 2013, however, positive GDP numbers were countered by fewer Americans signing contracts to buy previously owned homes in August. USA GDP rose at a 2.48% percent annual rate, unrevised from the previous estimate, after expanding 1.1 percent in the first quarter, the USA Commerce Department reported. The index of pending home sales fell 1.6 percent, the recent rise in mortgage rates slowing momentum in the housing market, according to figures from the National Association of Realtors.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-09-27 12:00 GMT | DE.Harmonised Index of Consumer Prices (YoY) (Sep)Preliminar
2013-09-27 12:00 GMT | DE.Consumer Price Index (MoM) (Sep)Preliminar
2013-09-27 12:30 GMT | US.Personal Spending (Aug)
2013-09-27 12:30 GMT | US.Personal Income (MoM) (Aug)
FOREX NEWS :
2013-09-27 05:01 GMT | EUR/CHF at six-week low
2013-09-27 04:02 GMT | EUR/USD under pressure on Italian political uncertainty
2013-09-27 02:53 GMT | AUD/JPY dives to 92.13 bottoms
2013-09-27 02:37 GMT | EUR/JPY cracks down to 133.02 lows
EURUSD :
HIGH 1.3491 LOW 1.34742 BID 1.34868 ASK 1.34871 CHANGE -0.01% TIME 08 : 11:57
https://support.fxcc.com/email/technical/27092013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Resistance level at 1.3504 (R1) acts as reference point for further market strengthening. Break here is required to enable next interim target at 1.3523 (R2) en route towards to final aim for today at 1.3542 (R3). Downwards scenario: Next challenge on the downside is seen at 1.3472 (S1). Breakthrough of this mark would open way for a downside expansion and could possibly trigger our initial targets at 1.3452 (S2) and 1.3435 (R3) later on today.
Resistance Levels: 1.3504, 1.3523, 1.3542
Support Levels: 1.3472, 1.3452, 1.3435
GBPUSD :
HIGH 1.60532 LOW 1.603 BID 1.60506 ASK 1.60511 CHANGE 0.06% TIME 08 : 11:57
https://support.fxcc.com/email/technical/27092013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Our attention on the upside is put to the next resistive barrier at 1.6139 (R1). Break here is required to stimulate bullish forces to expose initial targets at 1.6170 (R2) and 1.6206 (R3) later on today. Downwards scenario: We do expect some pull-backs development on the downside below the support level at 1.6030 (S1). Short-term momentum on the negative side might open the way towards to immediate supports at 1.6000 (S2) and 1.5964 (S3).
Resistance Levels: 1.6139. 1.6170, 1.6206
Support Levels: 1.6030, 1.6000, 1.5964
-----------------------
USDJPY :
HIGH 99.04 LOW 98.624 BID 98.634 ASK 98.636 CHANGE -0.34% TIME 08 : 11:58
https://support.fxcc.com/email/technical/27092013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Market remains sideways oriented. Next hurdle on the upside might be found at 99.05 (R1). Break here would open road towards to our interim aim at 99.33 (R2) and enable final intraday resistive measure at 99.58 (R3). Downwards scenario: On the other hand, our next support level aligns at 98.56 (S1) and possible price regress below it might encounter downside rally. In such scenario we would suggest next intraday targets to be placed at 98.25 (S2) and 97.97 (S3).
Resistance Levels: 99.05, 99.33, 99.58
Support Levels: 98.56, 98.25, 97.97
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Oct 01 2013
The US government shutdown - truth or dare
Early in the overnight/early morning session we'll have received the RBA decision regarding the base rate for Australia, this will be accompanied by a statement concerning the decision, which is expected to keep the current rate at 2.5%. The U.S. government looks set for its first partial shutdown in over 17 years, with no signs of compromise from the Congress or the White House. The U.S. has had 17 funding gaps from 1977 to 1996. In 1995 and 1996, interruptions lasted from Nov 14th to Nov 19th and from Dec 16th to Jan 6th, as Republicans led by House Speaker Newt Gingrich clashed with President Bill Clinton. Equity index futures are down on the USA equity markets, the DJIA equity index future is down 0.98 at the time of writing, leaving the index at 15046, very close to the critical 15,000 level. SPX equity index future is down 0.62%. European equity index futures are mainly in the red, STOXX down 0.9%, FTSE down 0.79% and the DAX down 0.87%. The U.S. Dollar Index, tracking the performance of a basket of the 10 leading global currencies versus the dollar, fell for a second trading-day, declining by 0.1 percent to 1,011.85 late in the New York session, after weakening by as much as 0.2 percent. The yen was little changed at 98.30 per dollar after touching 97.50, the strongest level since Aug 29th. Japan’s currency fell 0.1 percent to 132.93 versus the euro after appreciating to 131.38, the strongest level witnessed since Sept 9th. The euro was little changed at $1.3527.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-10-01 09:00 GMT | EU.EMU Unemployment Rate (Aug)
2013-10-01 12:58 GMT | US. Markit Manufacturing PMI (Oct)
2013-10-01 14:00 GMT | US. Construction Spending (MoM) (Aug)
2013-10-01 14:00 GMT | US. ISM Manufacturing PMI (Sep)
FOREX NEWS :
2013-10-01 05:18 GMT | AUD/JPY continues short-term upside following Aussie rate decision and comments
2013-10-01 04:39 GMT | EUR/USD eyes 1.3550 as shutdown kicks in
2013-10-01 04:31 GMT | USD/JPY slipping and sliding now that US government shutdown is a reality
2013-10-01 04:01 GMT | GBP/USD is spiking as the Senate votes down the House spending bill
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EURUSD :
HIGH 1.35519 LOW 1.35174 BID 1.35448 ASK 1.35452 CHANGE 0.14% TIME 08 : 24:34
https://support.fxcc.com/email/technical/01102013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Next resistance level is seen at 1.3555 (R1). Subsequently loss here might create upside momentum and drive market price towards to our initial targets at 1.3578 (R2) and 1.3600 (R3) in potential. Downwards scenario: Possible pull back development is limited now to the key supportive barrier at 1.3517 (S1). Only loss here would be considered as a beginning of a retracement expansion. Our intraday targets locates at 1.3472 (S2) and 1.3435 (S3).
Resistance Levels: 1.3555, 1.3578, 1.3600
Support Levels: 1.3517, 1.3472, 1.3435
--------------------
GBPUSD :
HIGH 1.62465 LOW 1.61823 BID 1.62370 ASK 1.62374 CHANGE 0.32% TIME 08 : 24:35
https://support.fxcc.com/email/technical/01102013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: The local peak at 1.6247 (R1) offers an important resistive level. Any penetration above it might shift the balance to the bullish side and validate our intraday targets at 1.6279 (R2) and 1.6308 (R3). Downwards scenario: On the downside our attention is shifted to the immediate support level at 1.6207 (S1). Break here is required to enable bearish forces and expose our intraday targets at 1.6180 (S2) and 1.6139 (S3).
Resistance Levels: 1.6247, 1.6279, 1.6308
Support Levels: 1.6207, 1.6180, 1.6139
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USDJPY :
HIGH 98.728 LOW 98.031 BID 98.124 ASK 98.129 CHANGE -0.09% TIME 08 : 24:36
https://support.fxcc.com/email/technical/01102013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Neutral
IMPLIED VOLATILITY : Medium
Upwards scenario: Break above the next resistance level at 98.56 (R1) is required to generate upside action and trigger our intraday targets at 98.81 (R2) and 99.05 (R3). Downwards scenario: Further correction development is limited now to the session low - 97.95 (S1). If the price manages to surpass it we would suggest next intraday targets at 97.63 (S2) and 97.30 (S3).
Resistance Levels: 98.56, 98.81, 99.05
Support Levels: 97.95, 97.63, 97.30
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Oct 02 2013
Ben Bernanke may delay taper if shut down impasse continues
The Swiss franc appears to have become the safe haven currency of choice during the USA partial govt. shutdown. The Swiss franc rose to its highest level versus the dollar in nineteen months as a partial shutdown of the U.S. government increased demand for Switzerland’s currency as a safe haven currency. The franc is typically sought by investors seeking safety at times of heightened global stress and it climbed versus all but two of its 16 major currency peers during Tuesday's trading sessions. Versus the USD it strengthened through 90 cents per dollar for the first time since Feb. 29, 2012. The Swiss currency rose 0.3 percent to 90.23 centimes per dollar at 10:50 a.m. in Zurich, after rising to as much as 89.93 centimes. Versus the euro it was little changed at 1.2225. The dollar traded at close to its lowest level seen since February as the partial shutdown of the U.S. government increased speculation that the Federal Reserve will persevere with its asset purchases, therefore weakening the currency. The U.S. currency was little changed at $1.3526 per euro after depreciating to $1.3588, the weakest level seen since Feb 6th. The yen gained by 0.3 percent to 98 per dollar and climbed 0.3 percent to 132.55 per euro.
FOREX ECONOMIC CALENDAR :
2013-10-02 11:45 GMT | ECB Interest Rate Decision
2013-10-02 12:30 GMT | ECB Monetary policy statement and press conference
2013-10-02 19:30 GMT | US Fed's Bernanke Speech
2013-10-02 23:50 GMT | JP Foreign investment in Japan stocks
FOREX NEWS :
2013-10-02 04:48 GMT | EUR/USD sitting on the fence ahead of ECB
2013-10-02 04:11 GMT | GBP/AUD soars on dismal AUD data
2013-10-02 03:46 GMT | RBA next rate cut delayed till February - NAB
2013-10-02 03:12 GMT | Japan’s the black sheep among winning indexes in Asia
EURUSD :
HIGH 1.35282 LOW 1.35074 BID 1.35240 ASK 1.35244 CHANGE -0.01% TIME 08 : 32:56
https://support.fxcc.com/email/technical/02102013/EURUSD.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Fractals level at 1.3536 (R1) offers a key resistive measure on the upside. Break here is required to enable bullish pressure and validate next target at 1.3551 (R2). Final support for today locates at 1.3566 (R3). Downwards scenario: As long as price stays below the next resistance level our technical outlook would be negative. Next on tap is support level at 1.3506 (S1). Penetration below this mark would suggest next targets at 1.3491 (S2) and 1.3475 (S3).
Resistance Levels: 1.3536, 1.3551, 1.3566
Support Levels: 1.3506, 1.3491, 1.3475
----------------------------
GBPUSD :
HIGH 1.62001 LOW 1.61625 BID 1.61790 ASK 1.61795 CHANGE -0.1% TIME 08 : 32:57
https://support.fxcc.com/email/technical/02102013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Possible upwards extension above the resistance level at 1.6210 (R1) is liable to commence medium-term bullish structure. Important fractal levels offers next targets at 1.6238 (R2) and 1.6265 (R3) in potential. Downwards scenario: Risk of further correction expansion is seen below the support barrier at 1.6158 (S1). Break here is required to enable our intraday targets at 1.6130 (S2) and 1.6103 (S3) on the downside.
Resistance Levels: 1.6210, 1.6238, 1.6265
Support Levels: 1.6158, 1.6130, 1.6103
----------------------
USDJPY :
HIGH 98.085 LOW 97.639 BID 97.648 ASK 97.651 CHANGE -0.37% TIME 08 : 32:57
https://support.fxcc.com/email/technical/02102013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: Fresh portion of the economic data releases might increase volatility later on today. Clearance of our next resistive barrier at 98.09 (R1) is required to push the price towards to our next visible targets at 98.33 (R2) and 98.56 (R3). Downwards scenario: As long as price stays below the moving averages our short-term outlook would be negative. Possible extension lower the 97.50 (S1) is being able to drive market price towards to initial supports at 97.25 (S2) and 97.01 (S3).
Resistance Levels: 98.09, 98.33, 98.56
Support Levels: 97.50, 97.25, 97.01
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Oct 03 2013
EUR/USD explodes to 1.3624, 8-month peaks
The European Central Bank President Mario Draghi stated on Wednesday that he’ll take any necessary measures to keep the money-market rates in check as he guides Europe’s banks through their early stages of the economic recovery. Draghi stated; “We’ll remain particularly attentive to developments which may have implications to monetary policy and consider all available instruments. We have a vast array of instruments to this extent and we exclude no option in order to address the needs as is most appropriate.” The euro advanced 0.4 percent to $1.3586 late in the New York session, reaching the biggest one-day gain since Sept 18th. The 17 nation shared single currency was 0.2 percent weaker at 132.28 yen after falling as much as 0.9 percent. The yen strengthened 0.6 percent to 97.39 per dollar. The euro strengthened the most in two weeks versus the dollar after European Central Bank President Mario Draghi refrained from signaling that additional measures were needed to boost the region’s recovery.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-10-03 07:53 GMT | DE Markit Services PMI (Sep)
2013-10-03 07:58 GMT | EMU Markit Services PMI (Sep)
2013-10-03 09:00 GMT | EMU Retail Sales (YoY) (Aug)
N/A | US Initial Jobless Claims (Sep 27)
FOREX NEWS :
2013-10-03 05:36 GMT | EUR/GBP slightly upwards ahead of crucial UK,EZ data
2013-10-03 05:06 GMT | GBP/USD sits on the fence ahead of UK PMI Services data
2013-10-03 02:16 GMT | EUR/USD triggers stops 1.36+, JPY on the slide
2013-10-03 02:00 GMT | USD/JPY retracing from 97.70 session highs
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EURUSD :
HIGH 1.36232 LOW 1.35775 BID 1.36065 ASK 1.36069 CHANGE 0.22% TIME 08 : 39:59
https://support.fxcc.com/email/technical/03102013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Current price setup might suggest uptrend development in near term perspective. If the price manages to surpass our resistive measure at 1.3623 (R1), we would suggest next targets at 1.3644 (R2) and 1.3665 (R3). Downwards scenario: On the other side, a dip lower the key support measure at 1.3575 (S1) would open a route towards to lower targets at 1.3555 (S2) and 1.3535 (S3).
Resistance Levels: 1.3623, 1.3644, 1.3665
Support Levels: 1.3575, 1.3555, 1.3535
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GBPUSD :
HIGH 1.62409 LOW 1.62206 BID 1.62329 ASK 1.62335 CHANGE 0.07% TIME 08 : 39:59
https://support.fxcc.com/email/technical/03102013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: A bullish oriented market participant might pressures to test our next resistance level at 1.6261 (R1). Loss here could open a route towards to our interim target at 1.6292 (R2) and the main aim for today locates at 1.6323 (R3). Downwards scenario: Risk of possible price regress is seen below the support level at 1.6202 (S1). Break here would suggest lower targets at 1.6170 (S2) and 1.6139 (S3) in potential.
Resistance Levels: 1.6261, 1.6292, 1.6323
Support Levels: 1.6202, 1.6170, 1.6139
-------------------------
USDJPY :
HIGH 97.784 LOW 97.251 BID 97.700 ASK 97.702 CHANGE 0.36% TIME 08 : 40:00
https://support.fxcc.com/email/technical/03102013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Market commenced recovery phase from the initial downtrend formation. Clearance of our next resistive barrier at 98.05 (R1) would suggest next intraday targets at 98.32 (R2) and 98.59 (R3) in potential. Downwards scenario: Further downside extension might face next supportive barrier at 97.53 (S1). Clearance here is required to open the way towards to interim target at 97.25 (S2) and any further price regress would then be targeting 96.98 (S3).
Resistance Levels: 98.05, 98.32, 98.59
Support Levels: 97.53, 97.25, 96.98
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Oct 04 2013
US interest rates could skyrocket
Due to the govt. shutdown there will be no NFP number printed by the BLS on Friday. Two FOMC members hold court in the afternoon session, once again, despite the turmoil in govt. due to the shutdown, investors will be looking for clues with regards to potential tapering of the Fed's $85 billion per month asset purchase scheme. The US Treasury warned on Thursday that the budget impasse between the Republicans and Democrats in Washington risked plunging the world's biggest economy into its worst slump since the Great Depression; "A default would be unprecedented and has the potential to be catastrophic. Credit markets could freeze, the value of the dollar could plummet, US interest rates could skyrocket, the negative spillovers could reverberate around the world, and there might be a financial crisis and recession that could echo the events of 2008 or worse."
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2011-08-10 06:00 GMT | DE Producer Price Index (MoM) (Aug)
2011-08-10 09:00 GMT | EMU Producer Price Index (YoY) (Aug)
2011-08-10 14:00 GMT | CA Ivey Purchasing Managers Index (Sep)
2011-08-10 17:45 GMT | US Fed Minneapolis's Narayana Kocherlakota speech
FOREX NEWS :
2013-10-04 05:49 GMT | Asian bourses closing on the down side
2013-10-04 04:19 GMT | EUR/GBP sails its way down to 0.8423 session lows
2013-10-04 04:06 GMT | AUD/USD remains resilient amidst a poor risk-off environment
2013-10-04 03:35 GMT | EUR/USD losing momentum? Gains wiped out
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EURUSD
HIGH 1.36317 LOW 1.36183 BID 1.36259 ASK 1.36263 CHANGE 0.05% TIME 08 : 40:02
https://support.fxcc.com/email/technical/04102013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: On the upside EURUSD is limited to the next resistive barrier at 1.3646 (R1). If the price manages to surpass this mark we would suggest next intraday targets at 1.3668 (R2) and 1.3690 (R3). Downwards scenario: Our next support level is placed at important technical level- 1.3607 (S1). Clearance here might stimulate bearish market participants to drive market price towards to our initial targets at 1.3584 (S2) and 1.3561 (S3) in potential.
Resistance Levels: 1.3646, 1.3668, 1.3690
Support Levels: 1.3607, 1.3584, 1.3561
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GBPUSD :
HIGH 1.61779 LOW 1.61532 BID 1.61721 ASK 1.61726 CHANGE 0.1% TIME 08:40:03
https://support.fxcc.com/email/technical/04102013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: On the upside potential is seen for a break above the resistance at 1.6187 (R1). In such case we would suggest next target at 1.6215 (R2) and any further rise would then be limited to final resistance at 1.6241 (R3). Downwards scenario: Medium term bias is clearly positive however we expect recovery action if the price manages to overcome key supportive bastion at 1.6150 (S1). In such case we would suggest next intraday targets at 1.6125 (S2) and 1.6099 (S3).
Resistance Levels: 1.6187, 1.6215, 1.6241
Support Levels: 1.6150, 1.6125, 1.6099
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USDJPY :
HIGH 97.403 LOW 97.034 BID 97.111 ASK 97.113 CHANGE -0.15% TIME 08 : 40:04
https://support.fxcc.com/email/technical/04102013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Mark at 97.50 (R1) acts as next resistive barrier on the way if the pair commence recovery phase. Break here is required to achieve higher targets at 97.80 (R2) and 98.10 (R3) later on today. Downwards scenario: In terms of technical levels, risk of price depreciation is seen below the support level at 96.92 (S1). Loss here would suggest to monitor marks at 96.62 (S2) and 96.33 (S3) as possible intraday targets.
Resistance Levels: 97.50, 97.80, 98.10
Support Levels: 96.92, 96.62, 96.33
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Oct 07 2013
Yen rises versus major peers early in the Asian session
There were no significant breaks or gaps to the upside or downside as the FX markets opened on Sunday evening. Yen made a modest rise versus the majority of its peers, but at the time of writing had failed to penetrate the significant resistance or support levels. The dollar fell for a fifth week last week, the longest stretch the greenback has experienced such a fall since April 2011, due to Congress failing to agree on a route forward to raise the $16.7 trillion U.S. debt limit, encouraging investors to seek other safe haven assets. The U.S. Dollar Index, tracking the greenback versus its 10 major peer currencies, declined by 0.3 percent last week, (the most in two weeks), to 1,009.98 in New York at the close on Friday. The dollar fell 0.8 percent to 97.48 yen, the third weekly drop. It touched 96.93, the lowest since Aug. 28th. The U.S. currency weakened by 0.3 percent to $1.3558 per euro. The yen strengthened 0.5 percent to 132.14 per euro. Sterling fell by the most last week in the dollar’s 16 most-traded peers, after reaching a nine-month high, the sell off was due to speculation that the U.K. economic recovery isn’t strong enough to warrant the early interest-rate increase the BoE governor Mark Carney had mentioned in earlier press conferences.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-10-07 08:30 GMT | EMU Sentix Investor Confidence (Oct)
2013-10-07 12:30 GMT | CA Building Permits (MoM) (Aug)
2013-10-07 19:00 GMT | US Consumer Credit Change (Aug)
2013-10-07 23:50 GMT | Trade Balance - BOP Basis (Aug)
FOREX NEWS :
2013-10-07 05:18 GMT | Asian bourses fall sharply due to US political “jitters”
2013-10-07 04:49 GMT | AUD/USD trading in the upper level ignoring US political “woes”
2013-10-07 03:49 GMT | USD a tad weaker as US shutdown set to extend
2013-10-07 02:37 GMT | EURUSD - Uptrend intact but latest pullbacks raises some concerns - 2ndSkies
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EURUSD :
HIGH 1.35742 LOW 1.35609 BID 1.35680 ASK 1.35685 CHANGE 0.09% TIME 08 : 45:02
https://support.fxcc.com/email/technical/07102013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Next barrier on the upside lies at 1.3579 (R1). Surpassing of this level might enable our initial target at 1.3594 (R2) and any further gains would then be limited to last resistive structure at 1.3609 (R3). Downwards scenario: Positive clearance of our key support level at 1.3538 (S1) would enable next target at 1.3523 (S2) en route to our final support for today at 1.3508 (S3).
Resistance Levels: 1.3579, 1.3594, 1.3609
Support Levels: 1.3538, 1.3523, 1.3508
----------------------
GBPUSD :
HIGH 1.60483 LOW 1.60153 BID 1.60325 ASK 1.60329 CHANGE 0.17% TIME 08 : 45:03
https://support.fxcc.com/email/technical/07102013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Our next resistance level is placed at 1.6050 (R1). Break here would open route towards to higher target at 1.6068 (R2) and any further price advance would then be limited to 1.6086 (R3). Downwards scenario: Failure to establish corrective structure might lead to further downtrend evolvement later on today. Penetration below the support at 1.6005 (S1) would suggest next intraday targets at 1.5987 (S2) and 1.5970 (S3) in perspective.
Resistance Levels: 1.6050, 1.6068, 1.6086
Support Levels: 1.6005, 1.5987, 1.5970
--------------------
USDJPY :
HIGH 97.338 LOW 97.021 BID 97.144 ASK 97.148 CHANGE -0.34% TIME 08 : 45:04
https://support.fxcc.com/email/technical/07102013/USDJPY.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Price is consolidating on the hourly timeframe however we see potential to overcome our next resistance level at 97.50 (R1) later on today. Our initial targets locates at 97.73 (R2) and 97.96 (R3). Downwards scenario: On the other hand, prolonged movement below the supportive measure at 96.92 (S1) is required to activate new phase of downtrend expansion. We would suggest next aim at 96.68 (S2) and then final target could be met at 96.45 (S3).
Resistance Levels: 97.50, 97.73, 97.96
Support Levels: 96.92, 96.68, 96.45
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Oct 08 2013
Chinese government officials fire off warning to USA treasury
The DJIA closed down 0.90% having experienced a late sell off towards the close of the afternoon session on Monday. As the day unwound any optimism for a solution faded, as did the secular rally enjoyed mid afternoon in the New York session. The SPX followed suit, closing down 0.85% and the NASDAQ closed down 0.98%. In the Chinese government's first public comments on the deadlock, Zhu urged Washington politicians to "learn their lessons from history". A reminder that the US AAA credit rating was downgraded by S&P two years ago after the last debt ceiling standoff. Zhu said; "The United States is totally clear about China's concerns about the fiscal cliff. We ask that the United States earnestly takes steps to resolve in a timely way before October 17 the political [issues] around the debt ceiling and prevent a U.S. debt default to ensure safety of Chinese investments in the United States and the global economic recovery. This is the United States' responsibility."
http://blog.fxcc.com/market-analysis
2013-10-08 12:15 GMT | Canada. Housing Starts s.a (YoY) (Sep)
2013-10-08 16:00 GMT | Switzerland. SNB Chairman Jordan Speech
2013-10-08 23:30 GMT | Australia. Westpac Consumer Confidence (Oct)
2013-10-08 23:50 GMT | Japan. BoJ Monetary Policy Meeting Minutes
FOREX NEWS :
2013-10-08 05:00 GMT | USD/JPY pares earlier losses and strikes back above 97.00
2013-10-08 04:06 GMT | GBP/USD slightly downwards but consolidating yesterday’s gains
2013-10-08 03:28 GMT | USD/CHF pockets gains printing 0.9044 session highs
2013-10-08 01:56 GMT | EUR/USD glued to 1.3568 support
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EURUSD :
HIGH 1.35816 LOW 1.35574 BID 1.35616 ASK 1.35618 CHANGE -0.14% TIME 08 : 13:56
https://support.fxcc.com/email/technical/08102013/EURUSD.png
OUTLOOK SUMMARY :
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Our technical outlook for the medium-term perspective remains bullish oriented. Clearance of next resistance level at 1.3583 (R1) would enable bullish pressure and open route towards to our next targets at 1.3607 (R2) and 1.3630 (R3). Downwards scenario: Medium-term bias is clearly positive however possible progress below the initial support level at 1.3560 (S1) might expose our intraday targets at 1.3542 (S2) and then 1.3517 (S3) in perspective.
Resistance Levels: 1.3583, 1.3607, 1.3630
Support Levels: 1.3560, 1.3542, 1.3517
----------------
GBPUSD :
HIGH 1.60988 LOW 1.60695 BID 1.60699 ASK 1.60703 CHANGE -0.16% TIME 08 : 13:57
https://support.fxcc.com/email/technical/08102013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Possible upwards formation is limited now to resistive measure at 1.6099 (R1). A break above it would suggest next intraday target at 1.6122 (R2) and if the price holds its momentum we can expect price increase towards to final resistance at 1.6150 (R3). Downwards scenario: If the price manages to overcome our next support barrier at 1.6061 (S1), we expect to see further market decline towards to our next target at 1.6035 (S2) and then next stop could be found at 1.6008 (S3) mark.
Resistance Levels: 1.6099, 1.6122, 1.6150
Support Levels: 1.6061, 1.6035, 1.6008
-------------------
USDJPY :
HIGH 97.134 LOW 96.566 BID 97.056 ASK 97.059 CHANGE 0.36% TIME 08 : 13:58
https://support.fxcc.com/email/technical/08102013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Immediate resistance at 97.29 (R1) remains in near-term focus, climb above this level might open way for a stronger move towards to next interim target at 97.58 (R2) and any further rise would then be limited to final resistive measure at 97.87 (R3). Downwards scenario: On the other hand, our next support level aligns at 96.79 (S1) and possible price regress below it might encounter downside rally. In such scenario we would suggest next intraday targets to be placed at 96.43 (S2) and 96.05 (S3).
Resistance Levels: 97.29, 97.58, 97.87
Support Levels: 96.79, 96.43, 96.05
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Oct 09 2013
IMF lowers global growth targets as USA debt ceiling impasse drags on
The IMF now expects the global economy to expand by 2.9% in 2013 and 3.6% in 2014, down by 0.3 and 0.2 points respectively on its last predictions, made in July, despite signs of recovery in the euro area. Obama's late statement on Tuesday evening spooked the USA indices, at the start of his speech the DJIA was hovering around a 0.7% loss on the day, by the time he'd finished and the markets had closed the DJIA was down 1.07%, the SPX closed down 1.23% and the NASDAQ down a precise 2.00% on the day. Equity index futures are, at the time of writing, pointing to another negative day on both the European and USA markets. The DJIA equity index future is down 0.92%, SPX down 1.06%, NASDAQ down 1.69%. UK FTSE equity index future is down 0.91%, CAC down 0.73% and the DAX equity index future is down 0.24% The dollar increased 0.2 percent to 96.88 yen late in New York on Tuesday after gaining as much as 0.6 percent earlier in the day. The greenback was little changed at $1.3573 per euro after rising 0.2 percent earlier. The 17-nation shared common currency appreciated by 0.1 percent to 131.49 yen. The dollar rose versus 13 of its 16 most-traded peers as the U.S. political stalemate persisted and President Barack Obama warned the nation faces a “very deep recession” if Congress doesn’t raise the debt limit, fueling safe haven demand for the dollar.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-10-09 08:30 GMT | UK Industrial Production (YoY) (Aug)
2013-10-09 14:00 GMT | UK NIESR GDP Estimate (3M) (Sep)
2013-10-09 18:00 GMT | US FOMC Minutes
2013-10-09 22:00 GMT | ECB President Draghi's Speech
FOREX NEWS :
2013-10-09 03:36 GMT | GBP/USD rally fizzles early Tuesday likely on “fade the news” reaction to Yellen news
2013-10-09 03:22 GMT | EUR/USD violates support printing 1.3562 session lows
2013-10-09 02:53 GMT | AUD/USD tumbling after poor Aussie data
2013-10-09 02:26 GMT | USD/JPY spikes to 97.36 peaks on +43 pips gains
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EURUSD
HIGH 1.36046 LOW 1.35617 BID 1.35630 ASK 1.35633 CHANGE -0.08% TIME 08 : 42:32
https://support.fxcc.com/email/technical/09102013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EURUSD tested negative territory today though appreciation above the resistive structure at 1.3584 (R1) might shift short-term tendency to the bullish side and validate our intraday targets at 1.3596 (R2) and 1.3607 (R3). Downwards scenario: Market decline below the support level at 1.3557 (S1) might shift market sentiment to the bearish side. In such scenario we expect next targets to be exposed today at 1.3546 (S2) and 1.3535 (S3).
Resistance Levels: 1.3584, 1.3596, 1.3607
Support Levels: 1.3557, 1.3546, 1.3535
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GBPUSD
HIGH 1.61219 LOW 1.60612 BID 1.60664 ASK 1.60672 CHANGE -0.1% TIME 08 : 42:33
https://support.fxcc.com/email/technical/09102013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: From the technical side, medium - term tendency is bearish, however new step of recovery phase is possible above the resistance level at 1.6086 (R1). Loss here would open way towards to next targets at 1.6106 (R2) and 1.6127 (R3). Downwards scenario: Our next support level is placed at 1.6058 (S1). Possible penetration below it might initiate bearish pressure and gradually push the price towards to our intraday targets at 1.6039 (S2) and 1.6019 (S3).
Resistance Levels: 1.6086, 1.6106, 1.6127
Support Levels: 1.6058, 1.6039, 1.6019
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USDJPY :
HIGH 97.446 LOW 96.825 BID 97.404 ASK 97.408 CHANGE 0.56% TIME 08 : 42:34
https://support.fxcc.com/email/technical/09102013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: USDJPY trapped to the correction phase on the hourly chart frame. Break of resistive level at 97.48 (R1) is required to enable upwards action. Next visible targets are seen at 97.67 (R2) and 97.85 (R3). Downwards scenario: Though, we still keep the bearish scenario in focus. Risk of market decline is seen below the support level at 97.18 (S1). Loss here would enable initial targets at 97.00 (S2) and 96.80 (S3).
Resistance Levels: 97.48, 97.67, 97.85
Support Levels: 97.18, 97.00, 96.80
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Oct 10 2013
Yellen's hard task highlighted by the minutes from the FOMC
Janet Yellen's difficult task was highlighted by the FOMC minutes published on Wednesday. Policy makers at the US Federal Reserve were split over the benefits of slowing down (tapering) its $85bn a month asset purchases in September, highlighting the difficult task facing her as she prepares to take chairmanship of the central bank. Barack Obama stepped up his discussions with Congress as USA political leaders look for a solution to the budget crisis that could leave the country without money to pay its bills before the end of the month. The president will meet senior Republicans from the House of Representatives at the White House on Thursday, after talks with members of his Democratic party on Wednesday evening. US default swaps trade has soared on debt fears. Growing investor fears that Washington could miss a payment on its debt has led to a surge in activity in the market for derivatives that insure against a US default. Commodities were hit hard in Wednesday's trading sessions; ICE WTI oil closing down 2.05% at $101.37 per barrel, NYMEX natural down 1.00% at $3.68 per therm. COMEX gold closed the day down 1.31%, silver down 2.46% at $21.89 per ounce.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-10-10 08:00 GMT | ECB Monthly Report
2013-10-10 11:00 GMT | BoE Interest Rate Decision
2013-10-10 11:45 GMT | Bank of Japan Governor Kuroda Speech
2013-10-10 16:00 GMT | Bank of Japan Governor Kuroda Speech
FOREX NEWS :
2013-10-10 05:43 GMT | USD/CHF on a strong rally higher
2013-10-10 04:32 GMT | USD/JPY soars on Nikkei, solid data and short-covering
2013-10-10 04:30 GMT | EUR/USD working on a re-test of yesterday’s low at 1.3488
2013-10-10 03:17 GMT | GBP/USD struggling to set a solid short-term low; anywhere in 1.5841 – 1.5908 will do
EURUSD :
HIGH 1.35275 LOW 1.34876 BID 1.35034 ASK 1.35037 CHANGE -0.13% TIME 08 : 52:42
https://support.fxcc.com/email/technical/10102013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: We see potential to test our resistive barrier at 1.3516 (R1) later on today. Successful penetration above this mark might keep bullish sentiment in play and validate our intraday targets at 1.3531 (R2) and 1.3546 (R3). Downwards scenario: On the other hand, instrument might enable bearish pressure below the support level at 1.3485 (S1) and prolong initial downtrend development. Next targets on the way locates at 1.3471 (S2) and 1.3457 (S3).
Resistance Levels: 1.3516, 1.3531, 1.3546
Support Levels: 1.3485, 1.3471, 1.3457
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GBPUSD :
HIGH 1.59654 LOW 1.59142 BID 1.59405 ASK 1.59413 CHANGE -0.09% TIME 08 : 52:43
https://support.fxcc.com/email/technical/10102013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: Fractal level offers a key resistive barrier at 1.5968 (R1). Subsequently loss here might create upside momentum and drive market price towards to our initial targets at 1.6006 (R2) and 1.6039 (R3) in potential. Downwards scenario: Fresh low offers a key supportive measure at 1.5914 (S1) on a downside. A violation here is liable to commence correction pattern on the bigger picture and expose our initial targets at 1.5878 (S2) and 1.5845 (S3).
Resistance Levels: 1.5968, 1.6006, 1.6039
Support Levels: 1.5914, 1.5878, 1.5845
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USDJPY :
HIGH 97.823 LOW 97.338 BID 97.727 ASK 97.731 CHANGE 0.39% TIME 08 : 52:44
https://support.fxcc.com/email/technical/10102013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: While price is quoted above the 20 SMA, our technical outlook would be positive. Clearance of our next resistance level at 97.87 (R1) would suggest next intraday targets at 98.01 (R2) and 98.14 (S3) in perspective. Downwards scenario: On the other hand, depreciation below the support level at 97.65 (S1) would suggest next intraday target at 97.51 (S2) and any further weakening would then be limited to final support level at 97.37 (S3).
Resistance Levels: 97.87, 98.01, 98.14
Support Levels: 97.65, 97.51, 97.37
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Oct 11 2013
ECB Agrees on swap line with PBOC as Chinese trade increases
The European Central Bank and the People’s Bank of China agreed to establish a bilateral currency swap line on Thursday, increasing access to trade finance in the euro area and strengthening the international use of the yuan. The swap line will be valid for three years and have a maximum size of 350 billion yuan ($57 billion) when Chinese currency is provided to the ECB and 45 billion euros ($61 billion) when money is given to the PBOC. The arrangement is available to all Eurosystem counter-parties via national central banks, it said. House Speaker John Boehner has proposed extending the federal debt limit until Nov. 22nd as a way to shift debate back to a government-spending bill. The bill wouldn’t end the partial shutdown of the government, which began Oct. 1st after Republicans insisted on changes to the 2010 health-care law. Boehner told reporters the House wants to “offer the president today the ability to move.”
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
24h | G20 Finance Ministers and Central Bank Governors Meeting
24h | IMF Meeting
2013-10-11 06:00 GMT | DE Harmonised Index of Consumer Prices (YoY) (Sep)
2013-10-11 12:30 GMT | CA Unemployment Rate (Sep)
FOREX NEWS :
2013-10-11 05:26 GMT | USD/CHF struggles to keep the 0.9100 level
2013-10-11 04:56 GMT | USD/CAD sits on the fence ahead of Canadian labor data, BoC outlook
2013-10-11 04:24 GMT | AUD/USD upwards amidst easing worries on US fiscal issues
2013-10-11 03:01 GMT | EUR/USD on steady climb to 1.3540
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EURUSD :
HIGH 1.35441 LOW 1.35178 BID 1.35347 ASK 1.35350 CHANGE 0.11% TIME 08 : 37:18
https://support.fxcc.com/email/technical/11102013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: On the upside current structure might face next hurdle at 1.3546 (R1). Successful penetration above that mark would suggest next target zone – 1.3559 (R2) onto 1.3573 (R3) price levels. Downwards scenario: Any downside fluctuations remains for now limited to the next support barrier at 1.3517 (S1). Only clear break here would be a signal of possible market easing towards to our targets at 1.3503 (S2) and 1.3489 (S3) in potential
Resistance Levels: 1.3546, 1.3559, 1.3573
Support Levels: 1.3517, 1.3503, 1.3489
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GBPUSD :
HIGH 1.59903 LOW 1.5963 BID 1.59881 ASK 1.59885 CHANGE 0.13% TIME 08 : 37:18
https://support.fxcc.com/email/technical/11102013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Our next resistance level is placed at 1.5993 (R1). Clearance here is required to commence ascending structure towards to next target at 1.6023 (R2) and any further price appreciation would then be limited to 1.6053 (R3) mark. Downwards scenario: On the other side, a dip below the initial support level at 1.5950 (S1) is liable to trigger bearish pressure and drive market price towards to supportive means at 1.5921 (S2) and 1.5891 (S3) in potential.
Resistance Levels: 1.5993, 1.6023, 1.6053
Support Levels: 1.5950, 1.5921, 1.5891
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USDJPY :
HIGH 98.552 LOW 97.921 BID 98.370 ASK 98.373 CHANGE 0.23% TIME 08 : 37:19
https://support.fxcc.com/email/technical/11102013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: USDJPY resumed upwards penetration today and we see potential to expose our intraday targets at 98.72 (R2) and 98.88 (R3) if the price manages to overcome key resistance measure at 98.56 (R1). Downwards scenario: Possible downside pressure could be maintained if the price penetrates below the support measure at 98.24 (S1). Clearance here would open way for a price move towards to lower targets at 98.08 (S2) and 97.92 (S3).
Resistance Levels: 98.56, 98.72, 98.88
Support Levels: 98.24, 98.08, 97.92
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Oct 14 2013
World Bank head Jim Yong Kim warns US is ‘five days away from a very dangerous moment
Jim Yong Kim has warned the United States they're just 'days away' from causing a global economic disaster unless politicians come up with a plan to raise the nation's debt limit and avoid default. 'We're now five days away from a very dangerous moment. I urge U.S. policymakers to quickly come to a resolution before they reach the debt ceiling deadline. Inaction could result in interest rates rising, confidence falling and growth slowing. If this comes to pass, it could be a disastrous event for the developing world, and that will in turn greatly hurt developed economies as well." Meanwhile the Chinese have lost very little time in making their opinion known, one of the official news outlets, Xinhua, has begun to call for a new global reserve currency to be created given the instability of the dollar; "US fiscal failure warrants a de-Americanized world and the creation of a new reserve currency to be created to replace the dominant U.S. dollar, so that the international community could permanently stay away from the spillover of the intensifying domestic political turmoil in the United States." The U.S. shouldn’t risk defaulting on its debt because doing so would wreak havoc in the world’s economy and financial markets, said the heads of JPMorgan, Deutsche Bank AG and Pacific Investment Management Co. JPMorgan Chief Executive Officer Jamie Dimon said yesterday during a panel discussion at a financial industry conference in Washington; “The United States cannot default and, in my opinion, will not default. It would ripple through the global economy in a way you couldn’t possibly understand.”
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-10-14 24 hours | Eurogroup meeting
2013-10-14 24 hours | US. Columbus Day
2013-10-14 09:00 GMT | EU. Industrial Production s.a. (MoM) (Aug)
2013-10-14 12:00 GMT | Poland. M3 Money Supply (YoY) (Sep)
FOREX NEWS :
2013-10-14 05:08 GMT | AUD/USD gains again uptrend momentum after solid China CPI release
2013-10-14 05:07 GMT | GBP/USD trading modestly higher on concerns over US politics
2013-10-14 04:20 GMT | USD/JPY under pressure on concerns about US debt ceiling
2013-10-14 04:20 GMT | GBP/JPY consolidating recent gains; technicians say a bit more upside likely
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EURUSD :
HIGH 1.35668 LOW 1.35509 BID 1.35665 ASK 1.35668 CHANGE 0.18% TIME 08 : 25:37
https://support.fxcc.com/email/technical/14102013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: We are not expecting significant volatility increase today however upside risk aversion is seen above the next resistance level at 1.3581 (R1). Price evaluation above this level would suggest next targets at 1.3599 (R2) and 1.3616 (R3). Downwards scenario: If the price manages to overcome our next support barrier at 1.3551 (S1), we expect to see further market decline towards to our next target at 1.3536 (S2) and then next stop could be found at 1.3517 (S3) mark.
Resistance Levels: 1.3581, 1.3599, 1.3616
Support Levels: 1.3551, 1.3536, 1.3517
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GBPUSD :
HIGH 1.59888 LOW 1.59633 BID 1.59859 ASK 1.59867 CHANGE 0.23% TIME 08 : 25:43
https://support.fxcc.com/email/technical/14102013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: On the upside market might get more incentives above the immediate resistive barrier at 1.6003 (R1). If the price manages to overcome it we would suggest next intraday targets at 1.6035 (R2) and 1.6061 (R3). Downwards scenario: Penetration below the support at 1.5964 (S1) is liable to put more downward pressure on the instrument in the near-term perspective. As a result our supportive means at 1.5928 (S2) and 1.5893 (S3) might be triggered.
Resistance Levels: 1.6003, 1.6035, 1.6061
Support Levels: 1.5964, 1.5928, 1.5893
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USDJPY :
HIGH 98.351 LOW 98.119 BID 98.258 ASK 98.262 CHANGE -0.31% TIME 08 : 25:51
https://support.fxcc.com/email/technical/14102013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: Any upside actions looks limited to resistance level at 98.60 (R1). Surpassing of this level might enable next target at 98.81 (R2) and any further gains would then be targeting final mark at 99.03 (R3) in potential. Downwards scenario: Next support level is seen at 98.10 (S1), any penetration below it might activate downside pressure and enable lower target at 97.89 (S2). Any further market decline would then be limited to 97.62 (S3).
Resistance Levels: 98.60, 98.81, 99.03
Support Levels: 98.10, 97.89, 97.62
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Oct 17 2013
Debt ceiling temporary solution provides temporary market relief
The debt ceiling resolution saw the DJIA rise by 1.36% on Wednesday. The compromise will fund the government through to mid-January and raise the debt ceiling through Feb. 7th. It also will set up a budget conference on long-term fiscal issues that would end no later than Dec. 13th. The Treasury Department will still be able to use "extraordinary measures" to work around the debt ceiling in the case that it is not raised by Feb. 7th. The first estimate for the euro area1 (EA17) trade in goods balance with the rest of the world in August 2013 gave a 7.1 billion euro surplus, compared with +4.6 bn in August 2012. The July 20132 balance was +18.0 bn, compared with +13.8 bn in July 2012. In August 2013 compared with July 2013, seasonally adjusted exports rose by 1.0% and imports by 0.2%. Euro area annual inflation was 1.1% in September 2013, down from 1.3% in August. A year earlier the rate was 2.6%. Monthly inflation was 0.5% in September 2013. European Union annual inflation was 1.3% in September 2013, down from 1.5% in August. A year earlier the rate was 2.7%. Monthly inflation was 0.4% in September 2013. The DJIA index closed up 1.36% on Wednesday, the SPX up 1.38% and NASDAQ up 1.20%. The debt ceiling compromise came too late to impact on European markets, STOXX index closed up 0.36%, FTSE up 0.34%, CAC closed down 0.29% and the DAX up 0.47%. The MIB closed up the most by 1.45% on the day.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-10-17 09:00 GMT | Germany. 10-y Bond Auction
2013-10-17 12:30 GMT | USA. Initial Jobless Claims (Oct 11)
2013-10-17 14:00 GMT | USA. Philadelphia Fed Manufacturing Survey (Oct)
2013-10-17 23:50 GMT | Japan. Foreign bond investment (Oct 11)
FOREX NEWS :
2013-10-17 05:12 GMT | AUD/USD downwards despite a breach of the debt ceiling averted
2013-10-17 04:25 GMT | USD/CHF downwards despite greenback relief rally on debt progress
2013-10-17 02:32 GMT | EUR/USD jumps to 1.3550 highs; targets revisit; House says yes
2013-10-17 02:21 GMT | US House passes bill to end shutdown, raise debt ceiling
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EURUSD :
HIGH 1.35521 LOW 1.35157 BID 1.35468 ASK 1.35473 CHANGE 0.11% TIME 08 : 21:46
https://support.fxcc.com/email/technical/17102013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Short- term tendency is bearish even though both moving averages are pointing up. Though risk of market strengthening is seen above the resistance level at 1.3555 (R1). Clearance here would open way towards to next targets at 1.3571 (R2) and 1.3588 (R3). Downwards scenario: On the downside our attention is shifted to the immediate support level at 1.3517 (S1). Break here is required to enable bearish forces and expose our intraday targets at 1.3498 (S2) and 1.3479 (S3).
Resistance Levels: 1.3555, 1.3571, 1.3588
Support Levels: 1.3517, 1.3498, 1.3479
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GBPUSD :
HIGH 1.59861 LOW 1.59397 BID 1.59775 ASK 1.59785 CHANGE 0.19% TIME 08 : 21:47
https://support.fxcc.com/email/technical/17102013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: GBP/USD determined clear sideways tone on the medium-term timeframe. Possibility of market appreciation is seen above the resistance level at 1.5999 (R1). Break here is required to validate next targets at 1.6019 (R2) and 1.6042 (R3). Downwards scenario: On the other hand, price pattern suggests bearish potential if the instrument manages to overcome next support level at 1.5938 (S1). Possible price regress could expose our initial targets at 1.5914 (S2) and 1.5892 (S3) in potential.
Resistance Levels: 1.5999, 1.6019, 1.6042
Support Levels: 1.5938, 1.5914, 1.5892
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USDJPY :
HIGH 99.006 LOW 98.397 BID 98.444 ASK 98.447 CHANGE -0.31% TIME 08 : 21:47
https://support.fxcc.com/email/technical/17102013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Instrument consolidates from its initial uptrend formation on the hourly chart. Resistance level at 98.82 (R1) is a key technical point on the upside. Penetration above it would suggest higher targets at 99.01 (R2) and 99.20 (R3) later on today. Downwards scenario: Prolonged movement below the initial support level at 92.28 (S1) might trigger protective orders and drive the price towards to our intraday targets at 98.10 (S2) and 97.89 (S3) later on today.
Resistance Levels: 98.82, 99.01, 99.20
Support Levels: 98.28, 98.10, 97.89
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Oct 21 2013
China’s central government has called for “unrelenting” implementation of its economic policies and reform measures
Monday sees the publication of Germany's PPI figure and the monthly report from Germany's Bundesbank. Inflation is expected to come in at 0.1% month on month. In the USA another member of the Fed will hold court with the focus moving from the debt ceiling issue to the other issues affecting the USA economy, such as the throttling of monetary easing by way of tapering. Existing home sales in the USA are expected to come in at 5.31 million from the previous month's 5.48 million. Canada's wholesale sales are anticipated to print at 0.6%. USA crude oil inventory figures are suggested to fall to 3.4 million barrels from 6.8 million barrels the previous month. More arrivals from China contributed to a 7 percent increase in visitors to New Zealand in September 2013, compared with September 2012, Statistics New Zealand said today. "The 21,200 visitors from China was well up from 14,000 last September," population statistics manager Andrea Blackburn said. "This continues the strong growth in visitor numbers which we have seen from the world's most populous country in recent years." In the September 2013 year, visitor arrivals rose 3 percent to reach 2.670 million.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
N/A | US CB Leading Indicator (MoM) (Sep)
2013-10-21 06:00 GMT | DE Producer Price Index (YoY) (Sep)
2013-10-21 14:00 GMT | US Existing Home Sales (MoM) (Sep)
2013-10-21 14:30 GMT | US EIA Crude Oil Stocks change (Oct 11)
FOREX NEWS :
2013-10-21 05:40 GMT | AUD/USD upwards ‘flirting’ with the 200-daily SMA at 0.9755
2013-10-21 05:04 GMT | USD/CHF moves on the upper level on greenback strengthening
2013-10-21 04:23 GMT | USD/JPY looking to test 200-day MA 97.15 - BBH
2013-10-21 03:33 GMT | EUR/USD opens week in the red as part of consolidation; upside eventually 1.3750?
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EURUSD :
HIGH 1.36879 LOW 1.36706 BID 1.36776 ASK 1.36779 CHANGE -0.06% TIME 08 : 53:03
https://support.fxcc.com/email/technical/21102013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EURUSD clearly determined positive bias on the medium-term perspective. Penetration above the resistive measure at 1.3704 (R1) might encourage protective orders execution and drive market price towards to the next resistive means at 1.3721(R2) and 1.3739 (R3). Downwards scenario: Our next supportive measure locates at 1.3658 (S1). Break here is required to enable correction action towards to next target at 1.3641 (S2). Final support for today locates at 1.3622 (S3).
Resistance Levels: 1.3704, 1.3721, 1.3739
Support Levels: 1.3658, 1.3641, 1.3622
----------------
GBPUSD :
HIGH 1.61774 LOW 1.61522 BID 1.61706 ASK 1.61711 CHANGE 0.04% TIME 08 : 53:04
https://support.fxcc.com/email/technical/21102013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: On the upside fractal level at 1.6225 (R1) prevents further gains. Successful clearance here would suggest next intraday targets at 1.6248 (R2) and 1.6269 (R3). Downwards scenario: On the other hand, current range pattern on the hourly chart suggest possible retest of our supportive measure at 1.6148 (S1). Break here is required to open way towards to initial targets at 1.6125 (S2) and 1.6102 (S3).
Resistance Levels: 1.6225, 1.6248, 1.6269
Support Levels: 1.6148, 1.6125, 1.6102
-----------------------------
USDJPY :
HIGH 98.103 LOW 97.771 BID 98.021 ASK 98.024 CHANGE 0.29% TIME 08 : 53:05
https://support.fxcc.com/email/technical/21102013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low
Upwards scenario: Resistance at 98.16 (R1) limits possible upwards penetration. Break here is required to enable next interim target at 98.31 (R2) en route towards to final aim for today at 98.46 (R3). Downwards scenario: On the other hand, successful retest of our support level at 97.74 (S1) would clear the way for a downtrend expansion towards to our lower targets at 97.59 (S2) and 97.43 (S3) in potential
Resistance Levels: 98.16, 98.31, 98.46
Support Levels: 97.74, 97.59, 97.43
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Oct 22 2013
Tuesday's NFP day, let's be careful out there
The big event of the day is the 18 day late publication of the NFP figures. Traders need to exercise caution as the figure might come in far better than predicted, but be subject to significant revisions due to the temporary govt. shutdown. The anticipation is for a print of 182K jobs created with the unemployment rate remaining steady at 7.3%. The benchmark 10-year yield rose two basis points, or 0.02 percentage point, to 2.60 percent as of 5 p.m in New York. The price of the 2.5 percent note due in August 2023 fell 6/32, or $1.88 per $1,000 face amount, to 99 1/8. The yield declined to 2.54 percent on Oct. 18th, the lowest since July 24th, down from a 2013 high of 3 percent on Sept. 6th.Treasury 10-year notes snapped a three-day advance before the NFP government report on Tuesday.
The yen fell 0.5 percent to 98.19 per dollar after gaining 1.1 percent during the previous two days. Japan’s currency declined 0.4 percent to 134.32 per euro and touched 134.38, the weakest level since Sept. 23rd. The dollar was little changed at $1.3681 per euro after gaining 0.3 percent earlier. The U.S. Dollar Index, which monitors the greenback versus a basket of 10 other major currencies, rose 0.2 percent to 1,004.55 late in New York. The gauge fell to 1,000.70 on Oct. 18th, the lowest intraday level since Feb. 13th, extending a weekly loss to 1 percent, the most in a month. The price of crude oil fell below $100 a barrel Monday after the U.S. government reported an increase in supplies. Metals prices were broadly higher and crop prices were mixed. Crude oil for November delivery fell $1.59, or 1.6 percent, to $99.22 a barrel in New York. That's the first close below $100 a barrel since July.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-10-22 08:30 GMT | UK Public Sector Net Borrowing (Sep)
2013-10-22 12:30 GMT | US Nonfarm Payrolls (Sep)
2013-10-22 12:30 GMT | CA Retail Sales (MoM) (Aug)
2013-10-22 23:00 GMT | AU CB Leading Indicator (Aug)
FOREX NEWS :
2013-10-22 05:15 GMT | Good Chinese data leads to little movement in the markets; traders await US data
2013-10-22 05:09 GMT | Oil sits below $100, gold consolidates
2013-10-22 04:35 GMT | GBP/USD grinds slowly lower ahead of NFP data
2013-10-22 04:12 GMT | NFP likely no to have two-way directionality as usual - Rabobank
---------------------
EURUSD :
HIGH 1.36806 LOW 1.36622 BID 1.36711 ASK 1.36713 CHANGE -0.07% TIME 08 : 43:23
https://support.fxcc.com/email/technical/22102013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Possibility of further price progress is seen above the next resistance level at 1.3688 (R1). Breakthrough here would suggest interim target at 1.3704 (R2) and then mark at 1.3721 (R3) acts as next attractive point. Downwards scenario: As long as price stays below the 20 SMA our technical outlook would be negative. Extension lower the key support level at 1.3651 (S1) is being able to drive market price towards to our next targets at 1.3635 (S2) and 1.3618 (S3).
Resistance Levels: 1.3688, 1.3704, 1.3721
Support Levels: 1.3651, 1.3635, 1.3618
-------------------
GBPUSD
HIGH 1.61475 LOW 1.61154 BID 1.61274 ASK 1.61277 CHANGE -0.11% TIME 08 : 43:24
https://support.fxcc.com/email/technical/22102013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Retracement formation remains in power. Our next resistive measure lies at 1.6148 (R1), break here is required to achieve higher targets at 1.6173 (R2) and 1.6199 (R3). Downwards scenario: Our bearish expectations remain intact below the key support level at 1.6115 (S1). Price penetration below it would allow further declines towards to lower targets at 1.6090 (S2) and 1.6065 (S3).
Resistance Levels: 1.6148, 1.6173, 1.6199
Support Levels: 1.6115, 1.6090, 1.6065
--------------------
USDJPY :
HIGH 98.364 LOW 98.136 BID 98.311 ASK 98.313 CHANGE 0.14% TIME 08 : 43:25
https://support.fxcc.com/email/technical/22102013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Instrument gained momentum on the upside recently, turning short-term bias to the positive side. Next resistive structure on the way lies at 98.37 (R1), break here would suggest next intraday targets at 98.50 (R2) and 98.62 (R3). Downwards scenario: On the other hand, loss of our support level at 98.15 (S1) would open road for a market decline towards to our next target at 98.03 (S2). Any further price weakening would then be limited to final support at 97.90 (S3).
Resistance Levels: 98.37, 98.50, 98.62
Support Levels: 98.15, 98.03, 97.90
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Oct 23 2013
Markets rally as poor NFP print equals delayed monetary stimulus taper
The DJIA closed up 0.49% on Tuesday with the SPX up 0.57% and the NASDAQ up 0.24%. European markets joined in the late afternoon rally; STOXX closing up 0.57%, UK FTSE up 0.62%, CAC up 0.43% and the DAX up 0.90%. The ASE closed up 0.45%. The leader on the board in Europe was the Swiss market index, closing up 1.12% on the day, the Swiss trade balance exceeding expectations helping the index rise, the balance was up to 2.49 bn. Equity index futures are currently flat or down marginally at the time of writing, the DJIA down 0.06%, SPX down 0.09% and the NASDAQ down 0.09%. European equity index futures are up; FTSE up 0.63%, CAC up 0.45% and the DAX up 0.84% Commodities experienced mixed fortunes on Tuesday, with WTI oil finally breaching the critical psyche level of $100 a barrel by some distance. ICE WTI oil was down 1.38% on the day to finish at $98.30 per barrel. NYMEX natural was up 0.34% on the day. COMEX gold was down 0.18% on the day at $1340.30 per ounce, with silver at $22.71 down 0.35% on the day. The dollar depreciated by 0.7 percent to $1.3781 per euro late in New York time, and touched $1.3792, the weakest level since November 2011. The greenback was little changed at 98.14 yen, while the Japanese currency lost 0.7 percent to 135.25 per euro and reached 135.51, the weakest since November 2009. The Swiss franc climbed as much as 0.9 percent to 89.40 centimes per dollar before trading at 89.47. The dollar slid to its weakest level in almost two years versus the euro after lower-than-forecast U.S. employment gains added to speculation the Federal Reserve will delay reducing stimulus.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-10-23 08:30 GMT | Bank of England Minutes
2013-10-23 14:00 GMT | BoC Interest Rate Decision (Oct 23)
2013-10-23 14:30 GMT | Bank of Canada Monetary Policy Report
2013-10-23 15:15 GMT | BoC Press Conference
FOREX NEWS :
2013-10-23 05:36 GMT | USD/JPY tumbles on sharp Nikkei falls, China banks “jitters”
2013-10-23 04:48 GMT | AUD/USD retraced all of its post Australian CPI gains
2013-10-23 04:08 GMT | EUR/JPY tumbles on a corrective pullback
2013-10-23 03:42 GMT | EUR/USD rips past ‘13 peak of 1.3710 on “no tapering” hopes – continues higher Wednesday
-------------------------
EURUSD :
HIGH 1.37928 LOW 1.37663 BID 1.37732 ASK 1.37735 CHANGE -0.06% TIME 08 : 44:43
https://support.fxcc.com/email/technical/23102013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EURUSD gained momentum on the upside recently and likely resume its uptrend formation. Clearance of our next resistive structure at 1.3794 (R1) would open way towards to our initial target at 1.3821 (R2) and any further market rise would then be targeting 1.3846 (R3). Downwards scenario: On the downside bearish pressure might push the price below the support at 1.3750 (S1). Further downside extension would open road towards to next target at 1.3727 (S2) and any further losses would then be limited to 1.3704 (S3) mark.
Resistance Levels: 1.3794, 1.3821, 1.3846
Support Levels: 1.3750, 1.3727, 1.3704
----------------------
GBPUSD :
HIGH 1.62567 LOW 1.62101 BID 1.62164 ASK 1.62173 CHANGE -0.11% TIME 08 : 44:44
https://support.fxcc.com/email/technical/23102013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Possibility of ascending structure is seen above the fractal level at 1.6259 (R1). Break here is required to clear the way towards to higher targets at 1.6286 (R2) and 1.6315 (R3). Downwards scenario: On the other hand, recovery phase might commence below the important support level at 1.6194 (S1). Break here is required to validate our targets at 1.6167 (S2) and 1.6139 (S3) later on today.
Resistance Levels: 1.6259, 1.6286, 1.6315
Support Levels: 1.6194, 1.6167, 1.6139
----------------------
USDJPY :
HIGH 98.195 LOW 97.264 BID 97.440 ASK 97.443 CHANGE -0.71% TIME 08 : 44:45
https://support.fxcc.com/email/technical/23102013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: Possible upwards formation is limited to resistive measure at 97.56 (R1). A break above it would suggest next intraday target 97.73 (R2) and if the price holds its momentum we can expect price increase towards to final resistance at 97.89 (R3). Downwards scenario: Clearance of our support at 97.25 (S1) is required to determine negative intraday bias and enable lower target at 97.09 (S2) and then any further market depreciation would suggest final aim at 96.92 (S3).
Resistance Levels: 97.56, 97.73, 97.89
Support Levels: 97.25, 97.09, 96.92
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Oct 24 2013
Flash PMIs will dictate the market mood on Thursday
The DJIA closed down 0.35% on Wednesday, the recent rally, due to a temporary solution regarding the debt ceiling issue being agreed, may have now faded. The SPX closed down 0.47% and the NASDAQ down 0.57%. In Europe the STOXX index closed down 0.94%, reacting badly to the coming bank tests, the FTSE closed down 0.32%, CAC down 0.81%, DAX down 0.31%. The IBEX reacted badly to the bank test news despite crawling out of a deep recession, down 1.84% on the day. The MIB closed down 2.38%, with the Athens exchange hurting the most, down 3.82% on the day. Commodities once again endured a sell off on Wednesday, improved crude oil reserve numbers for the USA, up to 5.2 million barrels, caused WTI oil to fall by 1.22% to end at $97.10 per barrel on the day. The critical psyche level of $100 per barrel now being breached substantially with new medium term support levels being established. NYMEX natural rose by 1.06% to $3.62 per therm. COMEX gold was down 0.72% at $1333.00, with silver on COMEX down 1.01%. Equity index futures are pointing to a negative open in Europe followed by New York opening down. The DJIA equity index future is currently down 0.38%, NASDAQ down 0.42%, STOXX down 0.96%, FTSE down 0.40%, DAX down 0.35% The yen gained 0.8 percent to 134.12 per euro late in New York, after climbing as much as 1.2 percent, the biggest intraday advance since Aug. 27th. It depreciated to 135.51 Wednesday, the weakest level since November 2009. Japan’s currency strengthened 0.8 percent to 97.34 per dollar and touched 97.16, breaching its 200-day moving average at 97.28. The yen strengthened the most in eight weeks versus the euro as borrowing costs for Chinese banks jumped by the most since July affecting demand for safer assets.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-10-24 07:58 GMT | EMU Markit Services PMI (Oct)
2013-10-24 14:00 GMT | US New Home Sales (MoM) (Sep)
2013-10-24 16:45 GMT | UK BOE's Governor Carney speech
2013-10-24 23:30 GMT | JP National Consumer Price Index (YoY) (Sep)
FOREX NEWS :
2013-10-24 05:07 GMT | EUR/USD continues to consolidate around 1.3780 area
2013-10-24 04:47 GMT | NZD/USD rejected off 0.8440 resistance, NZ Treasury report weighs
2013-10-24 04:20 GMT | USD/CHF breaks 2012 lows despite upbeat Chinese PMI
2013-10-24 03:06 GMT | GBP/JPY on EMA20 at 157.60
---------------------
EURUSD :
HIGH 1.37931 LOW 1.37733 BID 1.37921 ASK 1.37924 CHANGE 0.12% TIME 08 : 51:48
https://support.fxcc.com/email/technical/24102013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Possibility of further market appreciation is seen above the resistance level at 1.3794 (R1). Break here is required to validate next targets at 1.3821 (R2) and 1.3846 (R3) Downwards scenario: On the other hand, progress below the initial support level at 1.3761 (S1) might initiate bearish pressure and expose our intraday targets at 1.3735 (S2) and 1.3710 (S3) later on today.
Resistance Levels: 1.3794, 1.3821, 1.3846
Support Levels: 1.3761, 1.3735, 1.3710
-----------------
GBPUSD :
HIGH 1.62025 LOW 1.61623 BID 1.61914 ASK 1.61917 CHANGE 0.18% TIME 08 : 51:49
https://support.fxcc.com/email/technical/24102013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Measures of resistance might be activating if the pair approaches 1.6225 (R1) price level. Break here would suggest next interim target at 1.6257 (R2) and If the price keeps its momentum we expect an exposure of 1.6287 (R3). Downwards scenario: Possible downward penetration is limited now to support level at 1.6157 (S1). If the price manages to surpass it, we would suggest next intraday targets at 1.6128 (S2) and 1.6099 (S3).
Resistance Levels: 1.6225, 1.6257, 1.6287
Support Levels: 1.6157, 1.6128, 1.6099
-------------------
USDJPY :
HIGH 97.617 LOW 97.175 BID 97.597 ASK 97.599 CHANGE 0.24% TIME 08 : 51:50
https://support.fxcc.com/email/technical/24102013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Corrective action is possible today. Clearance of next resistance level at 97.56 (R1) would suggest next intraday targets at 97.75 (R2) and 97.96 (R3) later on today. Downwards scenario: On the other side, current price pattern suggests bearish potential if the instrument manages to overcome key support level at 97.15 (S1). Further price regress is liable to expose our initial targets at 96.96 (S2) and 96.77 (S3).
Resistance Levels: 97.56, 97.75, 97.96
Support Levels: 97.15, 96.96, 96.77
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Oct 25 2013
Will the UK's GDP figure beat the expectation of 0.8%?
A major publication, that could impact on the UK FTSE and the value of sterling, is the latest UK preliminary GDP figure, published courtesy of the UK's ONS. The expectation is that the print will come in at 0.8%, up from 0.7% in the previous quarter. The German IFO business index is predicted to come in at an improved 108.2. The EU economic summit is worth keeping aware of given the potential for a surprise policy announcement. Core durable goods orders in the USA are expected to come in at 0.6% up from the -0.1% figure last month. The dollar lost 0.2 percent to $1.3801 per euro late in New York and reached $1.3825, the weakest since November 2011. It fell 0.1 percent to 97.28 yen after touching 97.16 Wednesday, the lowest since Oct. 9th. Europe’s shared currency gained 0.1 percent to 134.26 yen after rising as much as 0.5 percent earlier and weakening 0.2 percent. The dollar slid to a two-year low versus the euro as weaker-than-forecast economic data and concern that U.S. growth was hurt by a government shutdown added to bets the Federal Reserve will delay slowing stimulus until next year. The loonie, as the Canadian dollar is known, fell by 0.4 percent to C$1.0422 per U.S. dollar in Toronto. It has dropped as much as 1.5 percent during the past two days and reaching the weakest since Sept. 9th. One loonie buys 95.95 U.S. cents. The Canadian dollar had the biggest two-day slump in four months after the central bank altered its forward guidance narrative regarding future interest-rate rises that had been in place for more than a year, as risks of a worsening economy have increased.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
24h | European Council meeting
2013-10-25 08:00 GMT | DE IFO - Current Assessment (Oct)
2013-10-25 08:30 GMT | UK Gross Domestic Product (YoY)
2013-10-25 12:30 GMT | US Durable Goods Orders (Sep)
FOREX NEWS :
2013-10-25 05:03 GMT | USD/JPY collapses in tandem with Nikkei on highest Shibor since July
2013-10-25 04:15 GMT | NZD/USD falls sharply amidst a better mood in Asian markets
2013-10-25 04:14 GMT | EUR/USD keeps on testing 1.3820, break allows 1.3865
2013-10-25 03:03 GMT | AUD/USD recovers support above 0.96
------------------
EURUSD :
HIGH 1.38323 LOW 1.37851 BID 1.38189 ASK 1.38193 CHANGE 0.13% TIME 08 : 37:41
https://support.fxcc.com/email/technical/25102013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upside risk aversion is seen above the next resistance level at 1.3846 (R1). Appreciation above it might lead to the positive intraday bias formation towards to our next targets at 1.3874 (R2) and 1.3902 (R3) in potential. Downwards scenario: Possible downside extension is limited now to the support level at 1.3785 (S1). Break here is required to open a route towards to next target at 1.3758 (S2) and then any further easing would be targeting final support at 1.3729 (S3).
Resistance Levels: 1.3846, 1.3874, 1.3902
Support Levels: 1.3785, 1.3758, 1.3729
-------------------
GBPUSD :
HIGH 1.62469 LOW 1.61795 BID 1.62296 ASK 1.62298 CHANGE 0.18% TIME 08 : 37:42
https://support.fxcc.com/email/technical/25102013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Current positive bias development might face next resistive measure at 1.6257 (R1). If the price manages to overcome it we would suggest next intraday targets at 1.6287 (R2) and 1.6318 (R3). Downwards scenario: On the other hand, if the price clear the supportive measure at 1.6178 (S1), we would suggest next target at 1.6148 (S2) and then final attractive point could be found at 1.6117 (S3) later on today.
Resistance Levels: 1.6257, 1.6287, 1.6318
Support Levels: 1.6178, 1.6148, 1.6117
----------------------
USDJPY :
HIGH 97.433 LOW 96.944 BID 97.062 ASK 97.064 CHANGE -0.22% TIME 08 : 37:43
https://support.fxcc.com/email/technical/25102013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Medium term bias remains negative and possible price appreciation is limited now to resistive barrier at 97.37 (R1). Clearance of that level would suggest next intraday targets at 97.55 (R2) and 97.73 (R3). Downwards scenario: On the downside next challenge is seen at 96.93 (S1). Breakthrough here would open road for a price depreciation towards to our initial targets at 96.75 (S2) and 96.57 (R3) in potential.
Resistance Levels: 97.37, 97.55, 97.73
Support Levels: 96.93, 96.75, 96.57
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Oct 28 2013
China indicates the release of unprecedented economic measures when it holds its next government meeting.
There are several USA high impact news events for Monday that could affect market sentiment. Pending home sales is expected to increase to 0.5% month on month from a surprise fall of -1.6% last month. Industrial production data is expected to increase to 0.5% month on month. Economists forecast no change in purchases, the worst reading in six months, after a 0.2 percent advance in August, according to a survey ahead of Commerce Department figures due Oct. 29th. Sales excluding motor vehicle dealers may have increased 0.4 percent in September, a sign other merchants had more success selling to customers. The RBA governor Stevens speaks later in the afternoon, investors in AUS and speculators in the Aussie will be looking for any clues regarding a base interest rate cut which appeared to be off the table in last week's notes from the RBA. Japan issues a raft of data on Monday; retail sales, unemployment and household spending which if poor the Nikkei could fall with a corresponding rise in yen as a safe haven. Retail sales are expected to rise, unemployment to fall to 4%, but household spending is also predicted to increase by 0.7%.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-10-28 13:15 GMT | US Industrial Production (MoM) (Sep)
2013-10-28 14:00 GMT | US Pending Home Sales (YoY) (Sep)
2013-10-28 22:30 GMT | RBA's Governor Glenn Stevens Speech
2013-10-28 23:30 GMT | JP Unemployment Rate (Sep)
FOREX NEWS :
2013-10-28 06:37 GMT | EUR/GBP opens lower ahead of German data – trading range bound short-term
2013-10-28 06:20 GMT | EUR/USD hovers around 1.3800, ahead of a batch of US data, FOMC
2013-10-28 06:06 GMT | USD/CHF trading higher to start weak; technicians skeptical with 0.8750 downside target
2013-10-28 05:04 GMT | GBP/USD consolidates around 1.6180 area, awaiting the severe storm in UK
------------------------
EURUSD :
HIGH 1.38177 LOW 1.37959 BID 1.38003 ASK 1.38005 CHANGE -0.02% TIME 08 : 49:13
https://support.fxcc.com/email/technical/28102013/EURUSD.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EURUSD is approaching our key resistive measure at 1.3833 (R1). If the price manages to overcome it we would suggest next intraday targets at 1.3862 (R2) and 1.3892 (R3). Downwards scenario: On the other hand, our next supportive barrier at 1.3775 (S1) prevents possible correction development. Break here is required to enable downside expansion towards to our intraday targets at 1.3745 (S2) and 1.3714 (S3).
Resistance Levels: 1.3833, 1.3862, 1.3892
Support Levels: 1.3775, 1.3745, 1.3714
-------------------
GBPUSD :
HIGH 1.61895 LOW 1.61615 BID 1.61796 ASK 1.61798 CHANGE 0.1% TIME 08 : 49:14
https://support.fxcc.com/email/technical/28102013/GBPUSD.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: Possible penetration above the resistance level at 1.6205 (R1) is liable to open way towards to our initial targets at 1.6233 (R2) and 1.6261 (R3). Downwards scenario: In terms of technical levels, risk of price depreciation is seen below the support level at 1.6150 (S1). Loss here would suggest to monitor marks at 1.6123 (S2) and 1.6097 (S3) as possible intraday targets.
Resistance Levels: 1.6205, 1.6233, 1.6261
Support Levels: 1.6150, 1.6123, 1.6097
------------------
USDJPY :
HIGH 97.733 LOW 97.446 BID 97.587 ASK 97.591 CHANGE 0.2% TIME 08 : 49:15
https://support.fxcc.com/email/technical/28102013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Instrument gained momentum on the upside recently, turning short-term bias to the positive side. Further upwards penetration above the resistance at 97.74 (R1) might enable bullish forces and expose our initial targets at 97.87 (R2) and 98.00 (R3). Downwards scenario: Risk of further market decline is seen below the next support level at 97.44 (S1). Loss here is liable to downgrade currency rate towards to the next supportive means at 97.31 (S2) and 97.18 (S3) in potential.
Resistance Levels: 97.74, 97.87, 98.00
Support Levels: 97.44, 97.31, 97.18
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Oct 29 2013
FOMC meeting starts as speculation mounts regarding potential taper of monetary easing programme
Naturally most investor eyes will be fixed on any announcements from the first day of the FOMC meeting, clues as to tapering will be hawkishly observed. Net lending to individuals in the UK should print at 2.5 billion up from 1.6 billion the previous month. Similarly mortgage approvals should rise to 65K from 62K the previous month. Retail sales in the USA are expected to print at 0.2% up, with PPI up 0.2%. Annual house prices in the USA are expected to be up 12.4% year on year. The USA Conference Board sentiment index is expected in at 75.2 a fall from 79.7 the previous month. The bank of Canada governor Poloz is due to testify, along with Senior Deputy Governor Tiff Macklem, before the House of Commons Standing Committee on Finance, in Ottawa. The DJIA closed down 0.01% on Monday, the SPX up 0.13% and the NASDAQ down 0.08%. European indices were mixed, STOXX index down 0.42%, FTSE up 0.07%, CAC down 0.48%, DAX down 0.03%. The Athens exchange once again bucked the trend by closing up 1.37%. Commodities rallied on Monday, ICE WTI oil finished the day up 0.85% at $98.68 per barrel, NYMEX natural down 0.17% at $3.56 per therm, COMEX gold closed up 0.04% on the day at $1352.70 and silver down 0.06% at $22.52 per ounce. Oil rallied amid a drop in Libyan output and bets that central banks in America and Japan will maintain monetary stimulus. Looking towards the European open STOXX equity index future is down 0.36%, FTSE up 0.24%, CAC down 0.46% and DAX down 0.03%. The DJIA equity index future is currently down 0.03%, SPX down 0.02% and the NASDAQ down 0.27%.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-10-29 09:30 GMT | UK Mortgage Approvals (Sep)
2013-10-29 12:30 GMT | US Retail Sales (MoM) (Sep)
2013-10-29 14:00 GMT | US Consumer Confidence (Oct)
2013-10-29 23:50 GMT | JP Industrial Production (YoY) (Sep)
FOREX NEWS :
2013-10-29 03:16 GMT | GBP/USD glued to 1.6085 support
2013-10-29 02:55 GMT | USD/JPY exhausts after recovering session losses around 97.60
2013-10-29 02:03 GMT | AUD/USD emerges from 0.9515 2-week lows; consolidating above 0.9540
2013-10-29 01:21 GMT | EUR/USD pulling back gently. Is it anticipating bad data out of the US?
-----------------
EURUSD
HIGH 1.37937 LOW 1.37693 BID 1.37856 ASK 1.37858 CHANGE 0% TIME 08 : 40:07
https://support.fxcc.com/email/technical/29102013/EURUSD.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Possibility of market strengthening is seen above the immediate resistive barrier at 1.3818 (R1). Clearance here would suggest next interim target at 1.3845 (R2) and then final aim locates at 1.3872 (R3). Downwards scenario: As long as price stays below the next resistance level our technical outlook would be negative. Next on tap is support level at 1.3769 (S1). Penetration below this mark would suggest next targets at 1.3741 (S2) and 1.3714 (S3).
Resistance Levels: 1.3818, 1.3845, 1.3872
Support Levels: 1.3769, 1.3741, 1.3714
----------------
GBPUSD :
HIGH 1.61442 LOW 1.60643 BID 1.61024 ASK 1.61033 CHANGE -0.24% TIME 08 : 40:07
https://support.fxcc.com/email/technical/29102013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Our next resistance level is placed at 1.6137 (R1). Break here would open route towards to higher target at 1.6161 (R2) and any further price advance would then be limited to 1.6185 (R3).Downwards scenario: On the other hand, possible downside expansion might face next hurdle at 1.6063 (S1). Break here is required to initiate bearish pressure and validate our immediate targets at 1.6040 (S2) and 1.6019 (S3) in potential.
Resistance Levels: 1.6137, 1.6161, 1.6185
Support Levels: 1.6063, 1.6040, 1.6019
---------------
USDJPY :
HIGH 97.717 LOW 97.462 BID 97.540 ASK 97.542 CHANGE -0.14% TIME 08 : 40:08
https://support.fxcc.com/email/technical/29102013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Clearance of our next resistive barrier at 97.74 (R1) might push the price towards to our next visible targets at 97.87 (R2) and 98.00 (R3). Downwards scenario: Activation of bearish forces is possible below the support level at 97.44 (S1). Clearance here would suggest next interim target at 97.31 (S2) and if the price holds its momentum we would suggest final aim at 97.18 (S3).
Resistance Levels: 97.74, 97.87, 98.00
Support Levels: 97.44, 97.31, 97.18
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Oct 30 2013
Tuesday's NFP day, let's be careful out there
The big event of the day is the 18 day late publication of the NFP figures. Traders need to exercise caution as the figure might come in far better than predicted, but be subject to significant revisions due to the temporary govt. shutdown. The anticipation is for a print of 182K jobs created with the unemployment rate remaining steady at 7.3%. The benchmark 10-year yield rose two basis points, or 0.02 percentage point, to 2.60 percent as of 5 p.m in New York. The price of the 2.5 percent note due in August 2023 fell 6/32, or $1.88 per $1,000 face amount, to 99 1/8. The yield declined to 2.54 percent on Oct. 18th, the lowest since July 24th, down from a 2013 high of 3 percent on Sept. 6th.Treasury 10-year notes snapped a three-day advance before the NFP government report on Tuesday.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-10-22 08:30 GMT | UK Public Sector Net Borrowing (Sep)
2013-10-22 12:30 GMT | US Nonfarm Payrolls (Sep)
2013-10-22 12:30 GMT | CA Retail Sales (MoM) (Aug)
2013-10-22 23:00 GMT | AU CB Leading Indicator (Aug)
FOREX NEWS :
2013-10-22 05:15 GMT | Good Chinese data leads to little movement in the markets; traders await US data
2013-10-22 05:09 GMT | Oil sits below $100, gold consolidates
2013-10-22 04:35 GMT | GBP/USD grinds slowly lower ahead of NFP data
2013-10-22 04:12 GMT | NFP likely no to have two-way directionality as usual - Rabobank
------------------
EURUSD :
HIGH 1.36806 LOW 1.36622 BID 1.36711 ASK 1.36713 CHANGE -0.07% TIME 08 : 43:23
https://support.fxcc.com/email/technical/22102013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Possibility of further price progress is seen above the next resistance level at 1.3688 (R1). Breakthrough here would suggest interim target at 1.3704 (R2) and then mark at 1.3721 (R3) acts as next attractive point. Downwards scenario: As long as price stays below the 20 SMA our technical outlook would be negative. Extension lower the key support level at 1.3651 (S1) is being able to drive market price towards to our next targets at 1.3635 (S2) and 1.3618 (S3).
Resistance Levels: 1.3688, 1.3704, 1.3721
Support Levels: 1.3651, 1.3635, 1.3618
----------------------
GBPUSD :
HIGH 1.61475 LOW 1.61154 BID 1.61274 ASK 1.61277 CHANGE -0.11% TIME 08 : 43:24
https://support.fxcc.com/email/technical/22102013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Retracement formation remains in power. Our next resistive measure lies at 1.6148 (R1), break here is required to achieve higher targets at 1.6173 (R2) and 1.6199 (R3). Downwards scenario: Our bearish expectations remain intact below the key support level at 1.6115 (S1). Price penetration below it would allow further declines towards to lower targets at 1.6090 (S2) and 1.6065 (S3).
Resistance Levels: 1.6148, 1.6173, 1.6199
Support Levels: 1.6115, 1.6090, 1.6065
USDJPY
HIGH 98.364 LOW 98.136 BID 98.311 ASK 98.313 CHANGE 0.14% TIME 08 : 43:25
https://support.fxcc.com/email/technical/22102013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Instrument gained momentum on the upside recently, turning short-term bias to the positive side. Next resistive structure on the way lies at 98.37 (R1), break here would suggest next intraday targets at 98.50 (R2) and 98.62 (R3). Downwards scenario: On the other hand, loss of our support level at 98.15 (S1) would open road for a market decline towards to our next target at 98.03 (S2). Any further price weakening would then be limited to final support at 97.90 (S3).
Resistance Levels: 98.37, 98.50, 98.62
Support Levels: 98.15, 98.03, 97.90
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Oct 31 2013
China's top four banks post bad loan surge whilst the markets await data prints on Chinese growth on Thursday evening
In the overnight/early morning session the BOJ of Japan conducts their own version of an FOMC meeting. The results may affect the value of yen and the Nikkei. They'll deliver a monetary policy statement, an outlook report and then conduct a press conference. On Thursday German retail sales are expected to rise by 0.5%, Italy's employment rate is expected to climb to 12.4%, EU unemployment is expected to come in at 12%. Canada's GDP for the month is expected in at 0.2%, whilst USA weekly unemployment claims are expected in at 341K, this print is still liable to potentially deliver a surprise given the temporary USA govt. shutdown might still be working its way through the system. Late in the evening two extremely important prints from China are published. The manufacturing PMI and the HSBC final manufacturing PMI. China’s top four banks have posted their biggest increase in bad loans since 2010 as a five-year credit surge has left companies with excess manufacturing capacity and slower profit growth amid an economic slowdown. Nonperforming loans at Industrial & Commercial Bank of China Ltd, China Construction Bank Corp, Agricultural Bank of China Ltd and Bank of China Ltd rose 3.5 percent in the three months to Sept. 30th from June to a combined 329.4 billion yuan ($54 billion). Profit rose to 209 billion yuan.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-10-31 07:00 GMT | DE Retail Sales (YoY) (Sep)
2013-10-31 10:00 GMT | EMU Consumer Price Index (YoY) (Oct)
2013-10-31 12:30 GMT | US Initial Jobless Claims (Oct 25)
2013-10-31 13:30 GMT | CA Gross Domestic Product (MoM) (Aug)
FOREX NEWS :
2013-10-31 06:32 GMT | EUR/USD downwards on Nowotny Comments, less dovish FOMC than expected
2013-10-31 06:28 GMT | BOJ semi-annual report: QE to achieve inflation goal
2013-10-31 05:57 GMT | FOMC to begin taper at some point in coming quarters - Nomura
2013-10-31 05:39 GMT | GBP/JPY little changed after solid Japanese data, BoJ decision
-------------------------
EURUSD
HIGH 1.37386 LOW 1.36893 BID 1.37035 ASK 1.37038 CHANGE -0.23% TIME 08 : 43:19
https://support.fxcc.com/email/technical/31102013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Upwards penetration is limited to the important resistance level at 1.3718 (R1). Clearance here might open a route towards to our initial target at 1.3734 (R2) and then further price appreciation would be targeting resistance at 1.3752 (R3). Downwards scenario: On the other hand, negative development might occur below the immediate support level at 1.3698 (S1). Clearance here would enable our next intraday targets at 1.3674 (S2) and 1.3656 (S3).
Resistance Levels: 1.3718, 1.3734, 1.3752
Support Levels: 1.3698, 1.3674, 1.3656
---------------------
GBPUSD :
HIGH 1.60432 LOW 1.60059 BID 1.60130 ASK 1.60132 CHANGE -0.16% TIME 08 : 43:20
https://support.fxcc.com/email/technical/31102013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: We see potential to test our resistive barrier at 1.6043 (R1) later on today. Successful penetration above this mark might keep bullish sentiment in play and validate our intraday targets at 1.6077 (R2) and 1.6110 (R3). Downwards scenario: Next support level lies at 1.5994 (S1). Penetration below it might shift short-term tone to the negative side. Our intraday targets locates at 1.5961 (S2) and 1.5928 (S3).
Resistance Levels: 1.6043, 1.6077, 1.6110
Support Levels: 1.5994, 1.5961, 1.5928
---------------------
USDJPY :
HIGH 98.571 LOW 98.272 BID 98.352 ASK 98.356 CHANGE -0.16% TIME 08 : 43:21
https://support.fxcc.com/email/technical/31102013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: USDJPY is approaching our next resistive measure at 98.67 (R1) on the upside. Break here is required to enable bullish potential and expose our interim target at 98.82 (R2). Further price appreciation would then be limited to last resistance at 98.96 (R3). Downwards scenario: If the price failed to clear the resistive measure we expect to see recovery action. Clearance of our next support level at 98.15 (S1) is required to enable our targets at 97.99 (S2) and 97.84 (S3) in potential.
Resistance Levels: 98.67, 98.82, 98.96
Support Levels: 98.15, 97.99, 97.84
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Nov 01 2013
USA final manufacturing print scheduled to come in at 51.2 whilst investors await FOMC member Bullard's comments
The latest seasonally adjusted Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI) improved by 1.5 points in October, rising to 53.2 points. This was the second consecutive month that the Australian PMI has moved above 50 points, indicating mild expansion across the manufacturing industry. Several PMIs are published on Friday, the first is the UK's manufacturing PMI expected to come in at 56.3. The USA final manufacturing PMI is scheduled to print at 51.2. In the USA FOMC member Bullard will speak in the afternoon, where we'll also receive the ISM prints for manufacturing. Equity index futures are mainly positive at the time of writing; the DJIA is up 0.21%, SPX up 0.15% and the NASDAQ equity index future is up 0.17%. The if FTSE is down 0.64%, CAC up 0.62% and DAX up 0.23%. The benchmark 10-year yield rose two basis points on Thursday, or 0.02 percentage points, to 2.55 percent at 5 p.m. New York time after touching 2.57 percent, the highest since Oct. 22nd. It earlier fell four basis points to 2.50 percent. The 2.5 percent note maturing in August 2023 dropped 1/8, or $1.25 per $1,000 face amount, to 99 17/32. Ten-year note yields have fallen six basis points this month after sliding 17 basis points in September. Europe’s 17-nation currency slid 1.1 percent to $1.3584 late in New York time Thursday and fell by as much as 1.2 percent, the biggest intraday drop seen since April 17th. The euro sank by 1.3 percent to 133.60 yen. Japan’s currency gained 0.2 percent to 98.36 per dollar after depreciating yesterday to 98.68, the weakest level since Oct. 17th.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-11-01 08:30 GMT | SW SVME - Purchasing Managers' Index (Oct)
2013-11-01 09:28 GMT | UK Markit Manufacturing PMI (Oct)
2013-11-01 13:58 GMT | US Markit Manufacturing PMI (Oct)
2013-11-01 14:00 GMT | US ISM Manufacturing PMI (Oct)
FOREX NEWS :
2013-11-01 06:23 GMT | AUD/USD upwards on beating Chinese Manufacturing PMI
2013-11-01 05:37 GMT | EUR/JPY getting hammered as stops are creating snowball effect; 132.77 is short-term support
2013-11-01 04:04 GMT | USD/JPY sellers blow 98.00 support
2013-11-01 03:56 GMT | GBP/USD still hovering above short-term support at 1.6008; more downside expected
EURUSD :
HIGH 1.35894 LOW 1.35398 BID 1.35504 ASK 1.35509 CHANGE -0.24% TIME 08 : 47:05
https://support.fxcc.com/email/technical/01112013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Current price setup is looking for upwards extension possibility. Risk of the price acceleration is seen above the key resistance level at 1.3597 (R1). Clearance here would put immediate focus on the next targets at 1.3629 (R2) and then 1.3662 (R3). Downwards scenario: On the downside, support level at 1.3539 (S1) prevent further downtrend development. Successful penetration below it would open a path towards to next intraday targets at 1.3507 (S2) and 1.3475 (S3).
Resistance Levels: 1.3597, 1.3629, 1.3662
Support Levels: 1.3539, 1.3507, 1.3475
-----------------------
GBPUSD :
HIGH 1.60463 LOW 1.60169 BID 1.60285 ASK 1.60292 CHANGE -0.04% TIME 08 : 47:05
https://support.fxcc.com/email/technical/01112013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: GBPUSD trapped to the consolidation phase on the hourly chart frame. Break of resistive level at 1.6070 (R1) is required to enable upwards action. Next visible targets are seen at 1.6100 (R2) and 1.6131 (R3). Downwards scenario: Possible descending structure formation might get more stimulus if the price manages to overcome our next support level at 1.5998 (S1). Clearance here would suggest initial targets at 1.5966 (S2) and 1.5935 (S3).
Resistance Levels: 1.6070, 1.6100, 1.6131
Support Levels: 1.5998, 1.5966, 1.5935
-----------------
USDJPY :
HIGH 98.382 LOW 97.809 BID 97.961 ASK 97.965 CHANGE -0.4% TIME 08 : 47:06
https://support.fxcc.com/email/technical/01112013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: From the technical side, short - term tendency is bearish, however price appreciation is possible above the resistance level at 98.09 (R1). Loss here would open way towards to next targets at 98.30 (R2) and 98.51 (R3). Downwards scenario: Possible downtrend development may encounter supportive measure at 97.87 (S1). Penetration through this level would targeting then supportive means at 97.58 (S2) and 97.37 (S3) in potential.
Resistance Levels: 98.09, 98.30, 98.51
Support Levels: 97.78, 97.58, 97.37
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Nov 05 2013
China's Li sets min GDP at 7,2%, warns against stimulus
The Chinese economy should keep its growth rate levels at 7.2% or above to keep generating enough jobs, said Premier Li Keqiang, also underscoring that relying too much on short term liquidity injections/stimulus should not be the primary focus as it risks similar fiscal problems faced by the Euro zone. Based on early projections, Li said Q3 economic indicators are in line to meet yearly targets, while warning looser policies should be avoided, saying that money supply - M2 - stands at a dangerous CNY100 trillion, twice China's GDP. According to Li, cited by MNI, in comments made in an October 21 speech made public Monday: "We have too much money in the pool. If we print more money, it may cause inflation. We all know bad inflation will not only disturb markets but also have big side effects and pressure people's lives and even cause panic."
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-11-05 10:00 GMT | European Commission Releases Economic Growth Forecasts
2013-11-05 15:00 GMT | US ISM Non-Manufacturing PMI (Oct)
2013-11-05 21:45 GMT | NZ Unemployment Rate (Q3)
2013-11-05 23:50 GMT | BoJ Monetary Policy Meeting Minutes
FOREX NEWS :
2013-11-05 06:27 GMT | EUR/JPY tumbles alongside with Nikkei decline
2013-11-05 06:02 GMT | NZD/USD tumbled on RBA comments; now slightly higher
2013-11-05 04:19 GMT | EUR/USD at risk of 1.34 - Westpac
2013-11-05 03:35 GMT | RBA keeps neutral statement, AUD uncomfortably high
----------------------
EURUSD :
HIGH 1.35225 LOW 1.3491 BID 1.34972 ASK 1.34977 CHANGE -0.13% TIME 08 : 45:23
https://support.fxcc.com/email/technical/05112013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Price strengthening is possible above the next resistance level at 1.3526 (R1). Our interim target holds at 1.3553 (R2) en route to our final aim for today at 1.3581(R3). Downwards scenario: Opportunity for bearish oriented traders is seen below the important support level at 1.3478 (S1). Loss here would open door for the downtrend expansion towards to interim targets at 1.3453 (S2) and 1.3427 (S3).
Resistance Levels: 1.3526, 1.3553, 1.3581
Support Levels: 1.3478, 1.3453, 1.3427
-----------------------
GBPUSD :
HIGH 1.59821 LOW 1.59553 BID 1.59649 ASK 1.59657 CHANGE -0.02% TIME 08 : 45:24
https://support.fxcc.com/email/technical/05112013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: GBPUSD is approaching our next resistance level at 1.5983 (R1), keeping the short-term ascending structure intact. The break here is required for the price appreciation towards to next target at 1.6007 (R2) and any further rise would then be targeting to 1.6034 (R3). Downwards scenario: Risk of price depreciation is seen below the support level at 1.5940 (S1). A fall below it might initiate retracement formation towards to next support at 1.5916 (S2) and any further market decline would then be targeting final support at 1.5892 (S3).
Resistance Levels: 1.5983, 1.6007, 1.6034
Support Levels: 1.5940, 1.5916, 1.5892
-----------------------
USDJPY :
HIGH 98.674 LOW 98.24 BID 98.446 ASK 98.448 CHANGE -0.16% TIME 08 : 45:27
https://support.fxcc.com/email/technical/05112013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Immediate resistance at 98.71 (R1) remains in near-term focus, climb above this level might open way towards to next interim target at 98.92 (R2) and any further rise would then be limited to final resistive measure at 99.15 (R3) Downwards scenario: Any penetration below the support level at 98.23 (S1) might create more scope for the instrument weakness in near-term perspective. We are looking to our immediate supports at 98.01 (S2) and 97.80 (S3) as next possible targets.
Resistance Levels: 98.71, 98.92, 99.15
Support Levels: 98.23, 98.01, 97.80
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Nov 06 2013
Will the European service PMI point to increased growth, or increased stagnation?
We receive a raft of PMIs in the morning trading session on Wednesday; the most eagerly anticipated being the European final services PMI expected to print at 50.9, no change from the previous month. The UK manufacturing and production figures are published, expected in at 1.2% and 0.7% respectively. European retail sales are predicted to fall by 0.3%, whilst Germany's factory orders are expected to rise by 0.6%. Canada's building permits are expected to rise to 7.8% from the disastrous figure of -21.2% the previous month. Later in the evening the unemployment numbers for Australia are published with the expectation that the number will come in at 5.7%. Looking towards the market open/s for Wednesday the DJIA equity index future is currently flat, as is the SPX and NASDAQ. The European equity indices are down; STOXX off 0.82%, FTSE down 0.39%, CAC down 0.88% and DAX down 0.31%. Oil fell badly on Tuesday, ICE WTI oil down 1.32% on the day at $93.37 per barrel. Now that the critical psyche level of $100 per barrel has been breached the commodity appears to be in free-fall. NYMEX natural closed up 0.38% at $3.48 per therm. COMEX gold closed up on the day by 0.28% at $1311.70 per ounce with silver down 0.03% at $21.70 per ounce.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-11-06 09:00 GMT | UK Industrial Production (YoY) (Sep)
2013-11-06 10:00 GMT | EMU Retail Sales (YoY) (Sep)
2013-11-06 12:00 GMT | US MBA Mortgage Applications (Nov 1)
2013-11-06 15:00 GMT | UK NIESR GDP Estimate (3M) (Oct)
FOREX NEWS :
2013-11-06 06:52 GMT | EUR/USD recovers 1.3500
2013-11-06 06:26 GMT | GBP/JPY skyrockets as Nikkei soars on Toyota gains
2013-11-06 04:33 GMT | USD/JPY soars as Nikkei up 1% above 14.400; also boosted by EUR/JPY rally
2013-11-06 03:18 GMT | GBP/USD tripping stops, targets 1.61
-------------------
EURUSD :
HIGH 1.35213 LOW 1.34676 BID 1.35060 ASK 1.35064 CHANGE 0.23% TIME 08 : 50:42
https://support.fxcc.com/email/technical/06112013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Market sentiment has improved for the bullish oriented traders. Fractals level at 1.3524 (R1) offers a key resistance level. Break here would suggest higher targets at 1.3553 (R2) and 1.3581(R3). Downwards scenario: Any downside extension is limited now to the next support level at 1.3478 (S1). Below here we see potential for the price acceleration towards to next targets at 1.3453 (S2) and 1.3427 (S3) in potential.
Resistance Levels: 1.3524, 1.3553, 1.3581
Support Levels: 1.3478, 1.3453, 1.3427
--------------------
GBPUSD :
HIGH 1.60957 LOW 1.60417 BID 1.60849 ASK 1.60855 CHANGE 0.26% TIME 08 : 50:43
https://support.fxcc.com/email/technical/06112013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Further price appreciation is a likely scenario for today according to the technical readings. If the pair manages to clear the barrier at 1.6104 (R1), we would suggest next targets at 1.6127 (R2) and 1.6149 (R3). Downwards scenario: An evidence of possible descending structure could be provided if the GBPUSD manages to surpass next support level at 1.6062 (S1). In such case we would suggest next intraday targets at 1.6040 (S2) and 1.6016 (S3).
Resistance Levels: 1.6104, 1.6127, 1.6149
Support Levels: 1.6062, 1.6040, 1.6016
------------------
USDJPY :
HIGH 98.755 LOW 98.409 BID 98.620 ASK 98.624 CHANGE 0.12% TIME 08 : 50:43
https://support.fxcc.com/email/technical/06112013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: USDJPY resumed upwards penetration today and we see potential to expose our intraday targets at 98.95 (R2) and 99.15 (R3) if the price manages to overcome key resistance measure at 98.76 (R1). Downwards scenario: On the other hand, possible correction development would face next hurdle at 98.41 (S1). Break here is required to open road towards to our next interim target at 98.22 (S2), en route to final aim at 98.03 (S3).
Resistance Levels: 98.76, 98.95, 99.15
Support Levels: 98.41, 98.22, 98.03
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Nov 08 2013
The markets expect a very poor NFP print of circa 121K.
European news events in the morning session mainly concern the UK's balance of payments, expected in at -9.1billion and Germany's trade balance is expected in at +17.2 billion. North American employment figures for Canada and the USA are published in the afternoon trading session. Canada's unemployment rate is expected to rise to 7.0%, whilst the NFP jobs report for the USA is predicted to show that only 121K jobs were created in October. The unemployment rate in the USA may climb to 7.3%. The preliminary University of Michigan sentiment report is published expected to show a figure of 74.6. China delivers a raft of information late on Friday evening, the high impact news items will centre on the inflation levels, CPI expected in at 3.3%, new loans at circa 800 bn, and industrial production expected in at 10.1% up year on year. NYMEX WTI oil closed down on the day by 0.63% at $94.20 per barrel, NYMEX natural gas closed up on the day 0.60%, COMEX gold closed down 0.71% at $1308.50 per ounce, COMEX silver down 0.50% at $21.66 per ounce. Equity index futures are pointing to the main European and USA markets opening in negative territory. The DJIA is down 0.64%, the SPX down 1.16%, the NASDAQ down 1.67%. STOXX future is down 0.33%, DAX future up 0.51%, CAC future down 0.14%, and the UK FTSE future is down 0.73%.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-11-08 07:00 GMT | DE Trade Balance s.a. (Sep)
2013-11-08 09:30 GMT | UK Total Trade Balance (Sep)
2013-11-08 13:30 GMT | US Nonfarm Payrolls (Oct)
2013-11-08 13:30 GMT | CA Unemployment Rate (Oct)
FOREX NEWS :
2013-11-08 06:13 GMT | S&P downgrades France to AA from AA+, outlook stable
2013-11-08 05:49 GMT | AUD/USD peels back to opening levels
2013-11-08 05:00 GMT | USD/CHF well above the 0.9150 area
2013-11-08 04:56 GMT | US Non-Farm Payrolls will likely continue the volatility party that started Thursday
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EURUSD :
HIGH 1.34241 LOW 1.33885 BID 1.33984 ASK 1.33987 CHANGE -0.15% TIME 08 : 40:29
https://support.fxcc.com/email/technical/08112013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Appreciation above the resistance at 1.3453 (R1) might commence new step of the ascending structure. Our intraday targets today are placed at 1.3502 (R2) and 1.3551 (R3). Downwards scenario: Risk of possible price depreciation is seen below the support at 1.3296 (S1). Loss here might enable bearish pressure and drive market price towards to next targets at 1.3248 (S2) and 1.3199 (S3) later on today.
Resistance Levels: 1.3453, 1.3502, 1.3551
Support Levels: 1.3296, 1.3248, 1.3199
-----------------
GBPUSD :
HIGH 1.6102 LOW 1.60784 BID 1.60945 ASK 1.60947 CHANGE 0.01% TIME 08 : 40:29
https://support.fxcc.com/email/technical/08112013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: We see potential of market strengthening in near-term perspective. Next on tap is seen resistance level at 1.6117 (R1). Break here would suggest next intraday targets at 1.6138 (R2) and 1.6158 (R3). Downwards scenario: Break of support at 1.6065 (S1) is required to determine negative intraday bias and enable lower target at 1.6043 (S2). Clearance of this target would open a path towards to final support at 1.6023 (S3).
Resistance Levels: 1.6117, 1.6138, 1.6158
Support Levels: 1.6065, 1.6043, 1.6023
-----------------
USDJPY :
HIGH 98.255 LOW 98.039 BID 98.107 ASK 98.109 CHANGE 0.03% TIME 08 : 40:30
https://support.fxcc.com/email/technical/08112013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: On the upside resistive structure at 98.27 (R1) prevents possible gains. Clearance here is required to open route towards to next target at 98.41 (R2) and then final target could be triggered at 98.55 (R3). Downwards scenario: Current price pattern suggests bearish potential if the pair manages to overcome next support level at 97.89 (S1). Possible price regress could expose our initial targets at 97.75 (S2) and 97.62 (S3) later on today.
Resistance Levels: 98.27, 98.41, 98.55
Support Levels: 97.89, 97.75, 97.62
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Nov 11 2013
China's Plenum meeting could have a profound impact for global markets
Monday sees several bank holidays that will affect the volume of trading activity during the various trading sessions. France, Canada and the USA have bank holidays. The German Bundesbank president Weidmann will hold court with a conference on Monday. Whilst the German central bank is subservient and defers to the ECB, on matters such as quantitative easing and rate setting, investors and analysts will look for 'code' in Weidmann's speech concerning the direction the singular German economy will be headed for and directed towards over coming months. Towards the end of the trading day we'll receive the consumer confidence publication from Australia's National Bank. The previous month's reading came in at 12, a print close to this figure is expected. Sterling posted its first weekly advance in three versus the dollar as reports showed British services growth unexpectedly accelerated in October to the fastest pace in 16 years. U.K. government bonds declined for a second week as the Bank of England kept its key interest rate at a record low, whilst maintaining its bond-buying stimulus target. The pound climbed versus the euro for a second week, rising the most since April, after the European Central Bank unexpectedly lowered its benchmark interest rate, boosting demand for the U.K. currency. Benchmark 10-year yields reached the highest level in seven weeks last week after payrolls grew by 204,000 in October versus the 120,000 median forecast. U.S. debt rallied after the European Central Bank cut its benchmark interest rate to a record to address prolonged price weakness. The USA Treasury will auction $70 billion of notes and bonds this week. Treasuries fell the most in two months as reports showed the economy expanded in the third quarter beyond projections, boosting speculation the Federal Reserve is moving closer to 'tapering' its $85 billion of monthly bond-buying.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-11-11 09:00 GMT | IT Industrial Output s.a. (MoM) (Sep)
2013-11-11 17:00 GMT | DE German Buba President Weidmann speech
2013-11-11 23:30 GMT | AU Westpac Consumer Confidence Index (Nov)
2013-11-11 23:50 GMT | JP Tertiary Industry Index (MoM) (Sep)
FOREX NEWS :
2013-11-11 04:55 GMT | EUR/JPY loses momentum in late Asian trading session
2013-11-11 04:55 GMT | GBP/USD, another 1.5900 retest on deck - 2ndSkies
2013-11-11 04:36 GMT | EUR/USD should see sell on strength circa 1.3375 - JPMorgan
2013-11-11 04:19 GMT | AUD/USD sideways after solid Australian home data
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EURUSD :
HIGH 1.33671 LOW 1.33448 BID 1.33657 ASK 1.33659 CHANGE -0.01% TIME 08 : 29:13
https://support.fxcc.com/email/technical/11112013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: While price is quoted below the moving averages our medium-term technical outlook would be negative. Though, appreciation above the resistance at 1.3438 (R1) might enable upwards penetration towards to next targets at 1.3492 (R2) and 1.3543 (R3). Downwards scenario: On the downside bearish pressure might push the price below the support at 1.3317 (S1). Further downside extension would open road towards to next target at 1.3262 (S2) and any further losses would then be limited to 1.3209 (S3) mark.
Resistance Levels: 1.3438, 1.3492, 1.3543
Support Levels: 1.3317, 1.3262, 1.3209
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GBPUSD :
HIGH 1.60216 LOW 1.59978 BID 1.60182 ASK 1.60187 CHANGE 0.01% TIME 08 : 29:13
https://support.fxcc.com/email/technical/11112013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: GBPUSD commenced consolidation pattern, however, price strengthening above the next resistive structure at 1.6058 (R1) might activate short-term bullish pressure and expose our intraday targets at 1.6085 (R2) and 1.6112 (R3). Downwards scenario: As long as price stays below the 20 SMA our technical outlook would be negative. Extension lower the next support level at 1.5993 (S1) is being able to drive market price towards to our next targets at 1.5968 (S2) and 1.5942 (S3).
Resistance Levels: 1.6058, 1.6085, 1.6112
Support Levels: 1.5993, 1.5968, 1.5942
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USDJPY :
HIGH 99.225 LOW 98.94 BID 98.953 ASK 98.955 CHANGE -0.09% TIME 08 : 29:14
https://support.fxcc.com/email/technical/11112013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low
Upwards scenario: After the strong appreciation on Friday we expect to see some consolidation ahead. Though clearance of next resistance level at 99.23 (R1) might enable bullish pressure and open route towards to our next targets at 99.41 (R2) and 99.60 (R3). Downwards scenario: On the other hand, recovery phase might commence below the important support level at 98.85 (S1). Break here is required to validate our targets at 98.65 (S2) and 98.47 (S3) later on today.
Resistance Levels: 99.23, 99.41, 99.60
Support Levels: 98.85, 98.65, 98.47
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Nov 12 2013
USA small business optimism loses ground in October.
In the overnight early morning trading session we'll receive the publication of the Australian NAB business confidence report. Japan will release its consumer confidence index, predicted to come in at 46.3. UK inflation figures are published in the London session, expected to come in at 2.5% for CPI and 3% for RPI. The USA small business index is published in the afternoon session expected in at 93.5, as is the RBNZ financial stability report for New Zealand. It provides insights into the bank's view of inflation, growth, and other economic conditions that will affect interest rates in the future. The RBNZ governor Wheeler will then hold court shortly after the financial stability report to discuss the current state of the nation's finances. The NFIB Index of Small Business Optimism in the USA has lost 2.3 points to 91.6. Two components, the outlook for business conditions and the outlook for real sales gains, accounted for 52 percent of the Index decline. A weaker outlook for business produced dissatisfaction with inventory stocks, and fewer plans to create new jobs. The average value of the Index since the recovery started is 91. Looking towards tomorrow's open the DJIA equity index future is up 0.18%, SPX up 0.09% and the NASDAQ future is currently at the time of writing down 0.15%. The DAX future is up 0.48%, STOXX up 0.69% and CAC up 0.81% with UK FTSE up 0.43%. The DJIA closed up 0.14%, the SPX up 0.07% and the NASDAQ up 0.01%. Looking at Europe's bourses the STOXX index closed up 0.59%, CAC up 0.70%, DAX up 0.33%, and the UK FTSE up 0.30%.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-11-12 09:30 GMT | UK Core Consumer Price Index (YoY) (Oct)
2013-11-12 13:30 GMT | US Chicago Fed National Activity Index (Sep)
2013-11-12 20:00 GMT | RBNZ Financial Stability Report
2013-11-12 23:50 GMT | JP Machinery Orders (YoY) (Sep)
FOREX NEWS :
2013-11-12 07:16 GMT | EUR/USD dips to lows on German data
2013-11-12 06:56 GMT | GBP/USD deflates to session lows
2013-11-12 05:28 GMT | EUR/GBP on the soggy side
2013-11-12 05:07 GMT | GBP/AUD soars on solid UK home data, struggling Aussie
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EURUSD
HIGH 1.34137 LOW 1.33798 BID 1.33938 ASK 1.33941 CHANGE -0.09% TIME 09 : 51:38
https://support.fxcc.com/email/technical/12112013/EURUSD.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Possibility of further price progress is seen above the next resistance level at 1.3438 (R1). Breakthrough here would suggest interim target at 1.3485 (R2) and then mark at 1.3532 (R3) acts as next attractive point. Downwards scenario: Risk of market weakening is seen below the support level at 1.3368 (S1). Loss here is required to enable our supportive barrier at 1.3317 (S2) en route towards to final target for today at 1.3270 (S3).
Resistance Levels: 1.3438, 1.3485, 1.3532
Support Levels: 1.3368, 1.3317, 1.3270
--------------------------
GBPUSD :
HIGH 1.59922 LOW 1.59513 BID 1.59573 ASK 1.59577 CHANGE -0.2% TIME 09 : 51:38
https://support.fxcc.com/email/technical/12112013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Measures of resistance might be activating if the pair approaches 1.5978 (R1) price level. Break here would suggest next interim target at 1.6005 (R2) and If the price keeps its momentum we expect an exposure of 1.6031 (R3). Downwards scenario: On the other hand, progress below the initial support level at 1.5932 (S1) might initiate bearish pressure and expose our intraday targets at 1.5907 (S2) and 1.5880 (S3) later on today.
Resistance Levels: 1.5978, 1.6005, 1.6031
Support Levels: 1.5932, 1.5907, 1.5880
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USDJPY :
HIGH 99.731 LOW 99.104 BID 99.688 ASK 99.692 CHANGE 0.53% TIME 09 : 51:39
https://support.fxcc.com/email/technical/12112013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Further price appreciation needs to clear the barrier at 99.86 (R1) to enable our interim target at 100.06 (R2) and then any further gains would be limited to last resistance at 100.25 (R3). Downwards scenario: On the downside, USDJPY might encounter supportive measures at 99.30 (S1). Break here would open the way for a test of our next targets at 99.10 (S2) and 98.89 (S3) later on today.
Resistance Levels: 99.86, 100.06, 100.25
Support Levels: 99.30, 99.10, 98.89
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Nov 13 2013
Japan's preliminary GDP figures are expected in up 0.4% as Ben Bernanke gives a speech
European markets take centre stage on Wednesday, the UK's claimant count data is published, with the rate of unemployment scheduled to fall to 7.6% of the workforce. Industrial production for Europe is scheduled to fall by 0.2%. Later the BoE governor Carney delivers the bank's quarterly inflation report. Later on the German Bundesbank president Weidmann speaks and despite the German central bank not being in control of its money supply, or interest rate setting, the bank is still amongst the most respected banking institutions globally. The USA federal budget balance is scheduled to deliver what many may consider a rogue outlier number, predictions suggest a figure of -$103 billion will be published when last months' figure was a positive $73 billion. Later on in the late evening trading session we receive New Zealand's retail sales figures expected in at 0.9%. Thereafter Japan's preliminary GDP figure is expected to print at 0.4%. The Fed chairman Ben Bernanke gives a speech, whilst China reveals its percentage rise in foreign firms' investments and finally Japan delivers it's revised industrial prod ruins figures expected in at 1.5% up month on month. Looking towards the opening sessions on Wednesday the DJIA future is down 0.07%, SPX down 0.14% and the NASDAQ up 0.31%. European indices look weak; STOXX down 0.59%, DAX down 0.37%, CAC down 0.60% and UK FTSE down 0.14%. NYMEX WTI oil closed the day down 2.18% at $93.07 per barrel. NYMEX nat gas was up 2.01% on the day at $3.65 per therm. COMEX gold closed the day down 1.09% at $1267.20 per ounce with silver down 2.69% at $20.71 per ounce.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-11-13 09:30 GMT | UK.ILO Unemployment Rate (3M) (Sep)
2013-11-13 10:00 GMT | EU.Industrial Production w.d.a. (YoY) (Sep)
2013-11-13 10:30 GMT | UK.Bank of England Quarterly Inflation Report
2013-11-13 12:00 GMT | US.MBA Mortgage Applications (Nov 8)
FOREX NEWS :
2013-11-13 05:50 GMT | EUR/USD edges higher; momentum bias still negative
2013-11-13 05:03 GMT | AUD/CHF slightly higher; both components under pressure
2013-11-13 04:40 GMT | GBP/JPY back down at 158 after failing to conquer 159 for days
2013-11-13 04:19 GMT | EUR/JPY in consolidation mode
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EURUSD :
HIGH 1.34525 LOW 1.34296 BID 1.34427 ASK 1.34429 CHANGE 0.05% TIME 07 : 58:31
https://support.fxcc.com/email/technical/13112013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Next barrier on the upside lie at 1.3456 (R1). Surpassing of this level might enable our initial target at 1.3484 (R2) and any further gains would then be limited to last resistive structure at 1.3510 (R3). Downwards scenario: On a slightly longer term we expect pullback formation. Risk of market depreciation is seen below the next support level at 1.3426 (S1). Clearance here would suggest lower targets at 1.3402 (S2) and 1.3374 (S3) in potential.
Resistance Levels: 1.3456, 1.3484, 1.3510
Support Levels: 1.3426, 1.3402, 1.3374
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GBPUSD :
HIGH 1.59073 LOW 1.58855 BID 1.58930 ASK 1.58933 CHANGE -0.08% TIME 07:58:32
https://support.fxcc.com/email/technical/13112013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Possibility of market strengthening is seen above the resistance level at 1.5919 (R1). Clearance here is required to validate next interim target at 1.5938 (R2) and any further rise would then be targeting mark at 1.5962 (R3). Downwards scenario: Risk of market decline is seen below the next support level at 1.5888 (S1). Loss here might downgrade currency rate towards to the next supportive means at 1.5866 (S2) and 1.5848 (S3) in potential.
Resistance Levels: 1.5919, 1.5938, 1.5962
Support Levels: 1.5888, 1.5866, 1.5848
--------------------------
USDJPY :
HIGH 99.673 LOW 99.428 BID 99.519 ASK 99.521 CHANGE -0.11% TIME 07 : 58:32
https://support.fxcc.com/email/technical/13112013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Next hurdle on the upside is seen at important technical level – 99.80 (R1). If the price manages to overcome it we expect further acceleration towards to our initial targets at 99.97 (R2) and 100.09 (R3). Downwards scenario: Any downside extension is limited now to the next support level at 99.47 (S1). Break here is required to open a route towards to next target at 99.32 (S2) and then any further easing would be targeting final support at 99.16 (S3).
Resistance Levels: 99.80, 99.97, 100.09
Support Levels: 99.47, 99.32, 99.16
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Nov 14 2013
Fed chairperson delegate Janet Yellen states USA far from being able to taper asset purchase programme.
French and German preliminary GDP figures are published on Thursday, Germany's is expected in at 0.3% with France's at 0.1%. Italy's is expected in at -0.3%. Europe's flash GDP number is expected in at 0.2%. The ECB will publish its monthly bulletin on Thursday, whilst the UK's retail sales are expected to be flat, but could register a fall if consumers keep their hands in their pockets with Xmas being so close. Canada's trade balance is expected in at $1.2 bn for the month, whilst the USA trade balance for the month is expected in at -$34 billion, a near mirror opposite of Germany's positive €34 billion figure. Unemployment claims in the USA for the week are predicted in at 331K. The weekly oil and gas storage inventory data is published with oil expected in at a low print of 0.7. The DJIA closed up 0.45% on Wednesday, the SPX up 0.81% and the NASDAQ up 1.16%. European markets were mainly in the red; STOXX down 0.45%, CAC down 0.56%, DAX down 0.24% and UK FTSE down a substantial 1.44% after a negative reaction to the UK's BoE inflation report. Looking towards the market opening on Thursday November 14th the DJIA future is up 0.44%, SPX up 0.82% and the NASDAQ up 1.1%. The STOXX index is down 0.53%, DAX doe 0.36% and CAC down 0.55%. NYMEX WTI oil is up 0.60% at $93.60 per barrel, NYMEX nat gas is down 1.58% $3.56 per therm, COMEX gold is up 0.87% at $1282 per ounce, COMEX silver down 0.78% at $20.62 per ounce.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-11-14 09:00 GMT | EMU ECB Monthly Report
2013-11-14 09:30 GMT | UK Retail Sales (YoY) (Oct)
2013-11-14 10:00 GMT | EMU Gross Domestic Product s.a. (YoY) (Q3)
2013-11-14 15:00 GMT | FOMC Member Yellen Speech
FOREX NEWS :
2013-11-14 06:38 GMT | GBP/USD had “abc” correction in first few hours of Asian session; now working higher
2013-11-14 05:48 GMT | BoE's Fisher: we won't raise rates any time soon
2013-11-14 05:06 GMT | Nikkei surges above 2% in sympathy with Wall Street
2013-11-14 05:00 GMT | USD/CHF continues expected pullback – with extra “oomph” from Fed’s dovish comments
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EURUSD
HIGH 1.34976 LOW 1.34631 BID 1.34675 ASK 1.34678 CHANGE -0.13% TIME 08 : 44:13
https://support.fxcc.com/email/technical/14112013/EURUSD.png
OUTLOOK SUMMARY Up
TREND CONDITION Upward penetration
TRADERS SENTIMENT Bearish
IMPLIED VOLATILITY High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Instrument gained momentum on the upside recently, turning short-term bias to the positive side. Next resistive structure on the way lies at 1.3495 (R1), break here would suggest next intraday targets at 1.3519 (R2) and 1.3542 (R3). Downwards scenario: Possible downside extension is limited now to the support level at 1.3456 (S1). Break here is required to open a route towards to next target at 1.3433 (S2) and then any further easing would be targeting final support at 1.3410 (S3).
Resistance Levels: 1.3495, 1.3519, 1.3542
Support Levels: 1.3456, 1.3433, 1.3410
----------------------
GBPUSD :
HIGH 1.60651 LOW 1.60272 BID 1.60390 ASK 1.60396 CHANGE -0.1% TIME 08 : 44:15
https://support.fxcc.com/email/technical/14112013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: GBPUSD is approaching our next resistive measure at 1.6079 (R1). Break here is required to initiate upside pressure towards to next target at 1.6109 (R2) and then resistance at 1.6139 (R3) acts as last attractive point for today. Downwards scenario: Possible price depreciation is limited to support level at 1.6010 (S1). Break here is required to enable possible retracement action towards to our next targets at 1.5980 (S2) and 1.5949 (S3) in potential.
Resistance Levels: 1.6079, 1.6109, 1.6139
Support Levels: 1.6010, 1.5980, 1.5949
---------------------
USDJPY :
HIGH 99.727 LOW 99.135 BID 99.612 ASK 99.616 CHANGE 0.39% TIME 08 : 44:16
https://support.fxcc.com/email/technical/14112013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Neutral
Upwards scenario: We see potential of further instrument appreciation in near term perspective. Clearance of our next resistive structure at 99.79 (R1) would open way towards to next target at 100.00 (R2) and any further rise would then be targeting 100.21 (R3). Downwards scenario: Possible retracement formation is limited now to support level at 99.42 (S1). If the price manages to surpass it, we would suggest next intraday targets at 99.22 (S2) and 99.01 (S3).
Resistance Levels: 99.79, 100.00, 100.21
Support Levels: 99.42, 99.22, 99.01
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Nov 15 2013
European inflation is expected to fall to 0.7% whilst the USA empire manufacturing survey is expected to rise.
The European CPI figure is published on Friday expected in at 0.7% year on year. Canada's manufacturing sales is expected in up 0.5%. The USA empire manufacturing survey is expected to print at 5.2 up from the previous month's 1.5. Import prices month on month are expected in down 0.4% whilst industrial production is expected in at 0.1% up for the month. The DJIA closed up 0.35% on Thursday, SPX up 0.48%, NASDAQ up 0.18%. European indices recovered strongly from the previous day's fall; STOXX up 1.08%, CAC up 1.04%, DAX up 1.05%, FTSE up 0.54%. Looking towards equity index futures the DJIA is up 0.38%, SPX up 0.52% and NASDAQ up 0.26%, CAC up 1.02%, DAX up 1.12%, FTSE up 0.57%. NYMEX WTI oil closed up 0.06% at $93.94 per barrel, NYMEX nat gas up 1.46% at $3.62 per therm. COMEX gold closed up on the day 1.43% at $1286.50 per ounce The U.S. Dollar Index, which monitors the greenback versus 10 major counterparts, was little changed at 1,018.81 at 3:19 p.m. in New York after dropping to 1,015.83, the lowest since Nov. 7th. The yen fell 0.8 percent to 100.06 per dollar after touching 100.15, the weakest level since Sept. 11th. Japan’s currency declined 0.6 percent to 134.68 per euro. The euro slid 0.2 percent to $1.3461 after declining as much as 0.5 percent. The dollar rose from the lowest level in a week as investors believe that the Federal Reserve is still moving toward reducing its bond buying after chairman-nominee Janet Yellen said it “will not continue indefinitely.”
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
24h | EMU EcoFin Meeting
2013-11-15 10:00 GMT | EMU Consumer Price Index (YoY)
2013-11-15 13:30 GMT | US Export Price Index (YoY) (Oct)
2013-11-15 14:15 GMT | US Industrial Production (MoM) (Oct)
FOREX NEWS :
2013-11-15 06:44 GMT | EUR/GBP remains weak as Friday wears on; European data looms
2013-11-15 06:35 GMT | USD/JPY re-visits 100.00 as intra-day specs sell-off
2013-11-15 05:47 GMT | Aussie Dollar the biggest mover in an overall quiet session
2013-11-15 05:27 GMT | EUR/USD should head towards 1.20 - Societe Generale
EURUSD :
HIGH 1.34639 LOW 1.34453 BID 1.34595 ASK 1.34598 CHANGE 0.03% TIME 08 : 44:33
https://support.fxcc.com/email/technical/15112013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EURUSD commenced consolidation phase, however, appreciation above the next resistance at 1.3488 (R1) might be a good catalyst for an upwards formation towards to next targets at 1.3511 (R2) and 1.3533 (R3). Downwards scenario: Risk of possible price regress is seen below the support level at 1.3433 (S1). Break here would suggest lower targets at 1.3412 (S2) and 1.3390 (S3) in potential.
Resistance Levels: 1.3488, 1.3511, 1.3533
Support Levels: 1.3433, 1.3412, 1.3390
----------------------
GBPUSD :
HIGH 1.60819 LOW 1.60512 BID 1.60791 ASK 1.60797 CHANGE 0.09% TIME 08 : 44:34
https://support.fxcc.com/email/technical/15112013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Possible upwards extension above the resistive measure at 1.6101 (R1) is liable to commence medium-term bullish structure. Our intraday targets locates at 1.6134 (R2) and 1.6167 (R3) price levels. Downwards scenario: On the other hand, our next supportive barrier at 1.6031 (S1) prevents further downtrend expansion. Break here is required to enable lower targets at 1.5997 (S2) and 1.5964 (S3) in potential.
Resistance Levels: 1.6101, 1.6134, 1.6167
Support Levels: 1.6031, 1.5997, 1.5964
---------------------
USDJPY :
HIGH 100.305 LOW 99.94 BID 100.017 ASK 100.020 CHANGE 0.02% TIME 08 : 44:35
https://support.fxcc.com/email/technical/15112013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Measures of resistance might be activating when the pair approaches 100.31 (R1). Break here would suggest next interim target at 100.57 (R2) and If the pair keeps its momentum we would expect an exposure of 100.82 (R3). Downwards scenario: In terms of technical levels, risk of price depreciation is seen below the support level at 99.79 (S1). Loss here would suggest to monitor marks at 99.52 (S2) and 99.26 (S3) as possible intraday targets.
Resistance Levels: 100.31, 100.57, 100.82
Support Levels: 99.79, 99.52, 99.26
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Nov 19 2013
Dow Jones Index breaks 16000 as SPX and NASDAQ sell off at key levels, as Troika talks will resume in Athens this week
Tuesday sees the publication of the ZEW German sentiment index and the ZEW Europe sentiment index. Both indices are expected to rise, Germany's up to 54.6 and Europe's up to 63.1. Two more FOMC members are due to speak, Dudley and Evans, whilst treasury secretary Lew is due to speak, the man who 'knocked heads' together over the debt impasse. Later in the evening Ben Bernanke holds court. New Zealand's PPI is published with the expectation of a number similar to the 0.6% of the previous month. Japan's trade balance is expected in at -0.88 trillion, with the all industries activity expected in at 0.5% up 0.2%. Greece's finance minister Yannis Stournaras will hold another session of talks with the country's various lenders this week. Relations between the Athens government and officials from the IMF/EC and ECB are tense, with little in the way of an agreement over how to address the fiscal gap in Greece's 2014 financial projections. That shortfall is estimated at €1.5bn and there's no roadmap in place as to how it will be fixed, although bond holders taking another haircut seems the most obvious solution. Looking towards equity index futures the DJIA is up 0.16%, SPX down 0.27%. European equity indices are up; STOXX up 0.88%, DAX up 0.65%, CAC up 0.64%, fits equity index future up 0.49%. On Monday NYMEX WTI oil closed the day down 0.88% at $93.01 per barrel, NYMEX nat gas down 1.17% at $3.62 per therm. COMEX gold closed the day down 0.95% at $1275.20 per ounce, silver on COMEX down 1.79% at $20.36 per ounce.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-11-19 10:00 GMT | DE ZEW Survey - Economic Sentiment (Nov)
2013-11-19 13:45 GMT | US Treasury Sec Lew Speech
2013-11-19 23:30 GMT | AU Westpac Leading Index (MoM) (Sep)
2013-11-19 23:50 GMT | JP Merchandise Trade Balance Total (Oct)
FOREX NEWS :
2013-11-19 06:50 GMT | EUR/USD parked around 1.3500
2013-11-19 06:02 GMT | AUD bids expected on largest Australian bond deal issuance
2013-11-19 04:04 GMT | Dovish Yellen may limit further USD longs by specs - Rabobank
2013-11-19 02:28 GMT | EUR/JPY wants to consolidate 134.70 front
----------------------
EURUSD :
HIGH 1.35231 LOW 1.34989 BID 1.35143 ASK 1.35148 CHANGE 0.07% TIME 08:52:00
https://support.fxcc.com/email/technical/19112013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Fresh portion of the economic data releases might increase volatility later on today. Clearance of our next resistive barrier at 1.3530 (R1) is required to push the price towards to our next visible targets at 1.3549 (R2) and 1.3567 (R3). Downwards scenario: On the downside we see potential to positively retest our supportive measure at 1.3494 (S1). Clearance here is required to open route towards to our initial targets at 1.3474 (S2) and 1.3454 (S3) in potential.
Resistance Levels: 1.3530, 1.3549, 1.3567
Support Levels: 1.3494, 1.3474, 1.3454
---------------------
GBPUSD :
HIGH 1.61242 LOW 1.60964 BID 1.61032 ASK 1.61041 CHANGE -0.04% TIME 08:52:01
https://support.fxcc.com/email/technical/19112013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Instrument gained momentum on the upside recently, turning short-term bias to the positive side. Further upwards penetration above the resistance at 1.6148 (R1) would enable intraday targets at 1.6177 (R2) and 1.6206 (R3). Downwards scenario: Risk of possible price depreciation is seen below the support level at 1.6081 (S1). Break here is required to open the way towards to immediate supports at 1.6053 (S2) and 1.6025 (S3).
Resistance Levels: 1.6148, 1.6177, 1.6206
Support Levels: 1.6081, 1.6053, 1.6025
----------------
USDJPY :
HIGH 100.001 LOW 99.571 BID 99.821 ASK 99.825 CHANGE -0.17% TIME 08:52:02
https://support.fxcc.com/email/technical/19112013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: On the upside potential is seen for a break above the resistance at 100.20 (R1). In such case we would suggest next target at 100.41 (R2) and any further rise would then be limited to final resistance at 100.62 (R3). Downwards scenario: We expect further correction evolvement if the price manages to overcome key supportive bastion at 99.56 (S1). In such case we would suggest next intraday targets at 99.35 (S2) and 99.13 (S3).
Resistance Levels: 100.20, 100.41, 100.62
Support Levels: 99.56, 99.35, 99.13
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Nov 21 2013
European manufacturing PMIs published Thursday could indicate the ECB's next move on interest rates
Thursday sees the publication of Germany's and France's flash manufacturing and service PMIs together with Europe's which is expected to print at 51.6 for manufacturing and 51.9 for services. The RBA governor of Australia holds court on Thursday, whilst the UK's public net sector borrowing is published expected slightly up in at £10.1 bn. USA PPI is expected in at -0.1% whilst unemployment numbers are expected in at 333K, slightly up from the previous week. Flash manufacturing data is expected to print at 52.6. Europe's consumer confidence is expected in at -14.1 with the Philly manufacturing index for the USA expected in at 15.1, down from 19.8 the previous month. Perhaps the most illuminating comment in the latest FOMC meeting minutes, published late Wednesday evening, was the commitment that; "the Committee today reaffirmed its view that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the asset purchase program ends". The U.S. Dollar Index, which monitors the greenback against 10 major peers, increased for the first time in four days, adding 0.4 percent to 1,019.10 yen late in New York. The euro declined 0.9 percent to 134.34 yen after earlier touching 135.95, the strongest level since October 2009. The shared currency fell 0.8 percent to $1.3435. The dollar slid 0.1 percent to 99.99 yen. The dollar rose versus most major peers as Federal Reserve officials said they might reduce their $85 billion in monthly bond purchases “in coming months” as the economy improves, minutes of their last meeting show.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-11-21 08:58 GMT | EMU Markit Manufacturing PMI (Nov)
2013-11-21 09:05 GMT | RBA's Governor Glenn Stevens Speech
2013-11-21 10:05 GMT | ECB President Draghi's Speech
2013-11-21 13:30 GMT | US Producer Price Index (YoY) (Oct)
FOREX NEWS :
2013-11-21 06:15 GMT | USD/JPY cracks 100.60, new 6-month high
2013-11-21 05:05 GMT | EUR/USD maintains bearish pressure, 1.3390 is critical support Thursday
2013-11-21 04:31 GMT | AUD/USD bearish march pauses at 0.93 ahead of RBA Stevens
2013-11-21 03:24 GMT | BoJ keeps policy unchanged, retains 60T-70T easing plan
EURUSD :
HIGH 1.3442 LOW 1.34136 BID 1.34286 ASK 1.34289 CHANGE -0.07% TIME 08 : 37:15
https://support.fxcc.com/email/technical/21112013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EURUSD tested negative side recently, however we see potential to test resistive barrier at 1.3462 (R1) later on today. Successful penetration above that level would suggest next intraday targets at 1.3492 (R2) and 1.3525 (R3) later on today. Downwards scenario: Fresh low offers a key supportive measure at 1.3412 (S1) on a downside. A violation here is liable to commence correction pattern on the bigger picture and expose our initial targets at 1.3380 (S2) and 1.3348 (S3).
Resistance Levels: 1.3462, 1.3492, 1.3525
Support Levels: 1.3412, 1.3380, 1.3348
----------------------
GBPUSD :
HIGH 1.61082 LOW 1.60721 BID 1.60860 ASK 1.60869 CHANGE -0.11% TIME 08 : 37:16
https://support.fxcc.com/email/technical/21112013/GBPUSD.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: GBPUSD trapped to the consolidation phase on the hourly chart frame. Break of resistive level at 1.6177 (R1) is required to enable upwards action. Next visible targets are seen at 1.6220 (R2) and 1.6260 (R3). Downwards scenario: However, if the price manages to break our key support level at 1.6057 (S1) bearish market participants might take the initiative. Our intraday support level locates at 1.6018 (S2) and 1.5978 (S3).
Resistance Levels: 1.6177, 1.6220, 1.6260
Support Levels: 1.6057, 1.6018, 1.5978
--------------------
USDJPY :
HIGH 100.812 LOW 100.006 BID 100.690 ASK 100.694 CHANGE 0.66% TIME 08 : 37:17
https://support.fxcc.com/email/technical/21112013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Market gained momentum on the upside recently and turned short-term tendency to the positive side. Further appreciation above the resistance at 100.88 (R1) might push the price towards to our targets at 101.12 (R2) and 101.36 (R3) later on today. Downwards scenario: Our next support level is placed at 100.44 (S1). Possible penetration below it might initiate bearish pressure and push the price towards to our intraday targets at 100.19 (S2) and 99.95 (S3).
Resistance Levels: 100.88, 101.12, 101.36
Support Levels: 100.44, 100.19, 99.95
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Nov 22 2013
DJIA closes above 16,000 for the first time as dollar yen rises above 101
Today we receive the data concerning Germany's final GDP figure expected in at 0.3% up, with the German IFO index expected in at 107.9. Friday also sees a raft of info. regarding Canada; core CPI data is published expected in flat, with CPI up 0.2%. Retail sales is predicted in up 0.5% for the month. Jolts job openings are published in the USA, it measures the number of job openings during the reported month, excluding the farming industry. The DJIA rose more than 100 points and finally closed above 16,000 for the first time in history on Thursday. The index crossed that psychological milestone earlier this week, but then sold off for three days as the index closed in the red. The S&P 500 also closed up, while the Nasdaq rose more than 1%. The yen fell 1.1 percent to 101.16 per dollar late in New York time Thursday, the weakest level seen since July 10th. Japan’s currency slid 1.4 percent to 136.37 per euro after declining to 136.40, the lowest since October 2009. The euro rose 0.3 percent to $1.3482. The U.S. Dollar Index, which tracks the currency versus 10 major counterparts, rose 0.2 percent to 1,020.97 after advancing 0.4 percent Wednesday. The dollar gauge breached its 100- and 200-day moving averages as it approached a two-month high.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-11-22 07:00 GMT | DE Gross Domestic Product w.d.a (YoY)
2013-11-22 09:30 GMT | ECB President Draghi's Speech
2013-11-22 13:30 GMT | CA Consumer Price Index (YoY) (Oct)
2013-11-22 13:30 GMT | CA Retail Sales (MoM) (Sep)
FOREX NEWS :
2013-11-22 06:47 GMT | EUR/USD tests highs ahead of German data
2013-11-22 06:34 GMT | GBP/USD nearing upper edge of two-month trading range
2013-11-22 05:39 GMT | USD/JPY retests 101.00 bids, 101.30+ double topside failure
2013-11-22 03:41 GMT | AUD/USD bearish party goes on, 0.92 gives up
EURUSD :
HIGH 1.34895 LOW 1.34624 BID 1.34837 ASK 1.34840 CHANGE 0.02% TIME 08 : 57:07
https://support.fxcc.com/email/technical/22112013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Further upwards penetration might face next challenge at 1.3495 (R1). Break here would suggest next target at 1.3513 (R2) en route towards to last resistance for today at 1.3530 (R3). Downwards scenario: On the downside, support level at 1.3462 (S1) limits possible downtrend expansion. Break here is required to enable lower target at 1.3444 (S2) en route to final aim at 1.3426 (S3).
Resistance Levels: 1.3495, 1.3513, 1.3530
Support Levels: 1.3462, 1.3444, 1.3426
--------------------
GBPUSD :
HIGH 1.62046 LOW 1.61764 BID 1.61945 ASK 1.61952 CHANGE -0.02% TIME 08 : 57:08
https://support.fxcc.com/email/technical/22112013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: An element of resistive measure could be found at 1.6213 (R1). Clearance here would open way towards to higher target at 1.6242 (R2) and any further rise would then be limited to last resistance at 1.6271 (R3). Downwards scenario: Any downside fluctuations remains for now limited to the next support barrier at 1.6178 (S1). Only clear break here would be a signal of possible market easing towards to our targets at 1.6150 (S2) and 1.6122 (S3) in potential
Resistance Levels: 1.6213, 1.6242, 1.6271
Support Levels: 1.6178, 1.6150, 1.6122
--------------------------
USDJPY :
HIGH 101.353 LOW 100.956 BID 100.997 ASK 100.999 CHANGE -0.15% TIME 08 : 57:10
https://support.fxcc.com/email/technical/22112013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Market players may prefer to stay neutral today during limited tier one macroeconomic data flow, though a break of our resistance at 101.36 (R1) would suggest next targets at 101.58 (R2) and 101.81 (R3). Downwards scenario: On the other side, a dip below the initial support level at 100.84 (S1) is liable to trigger bearish pressure and drive market price towards to supportive means at 100.62 (S2) and 100.39 (S3) in potential.
Resistance Levels: 101.36, 101.58, 101.81
Support Levels: 100.84, 100.62, 100.39
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Nov 26 2013
USA house price index is published as the Richmond Fed Manufacturing Index is expected to rise.
Tuesday in the UK will see the publication of the UK's Nationwide Building Society's house price inflation report. As one of the more modest/reasonable indices of house price data in the UK the print is expected to come in up 0.6% month on month. The UK also holds inflation report hearings during the day. The USA publishes data on building permits and housing starts, expected in at circa 0.92K for both. The Standard & Poor's Case Shiller house price index is published with the expectations that annual house price inflation in the USA will rise to 13% year on year. The Conference Board Confidence index is published, expected in at 72.1, with the Richmond Manufacturing index expected up at 3 from the previous reading of 1.0. Late Tuesday evening New Zealand publishes its trade balance, expected down at -345 million, whilst construction data (completed) for Australia is published. The yen fell 0.4 percent to 101.67 per dollar late in New York time on Monday after reaching 101.92, the weakest since May 29th. It slid 0.1 percent to 137.43 per euro after touching 137.99, the weakest since October 2009. The dollar added 0.3 percent to $1.3517 against Europe’s shared currency. The U.S. Dollar Index, which tracks the currency against 10 major counterparts, rose 0.2 percent to 1,020.95.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-11-26 10:00 GMT | UK Inflation Report Hearings
2013-11-26 13:30 GMT | US Housing Starts (MoM) (Oct)
2013-11-26 15:00 GMT | US Consumer Confidence (Nov)
2013-11-26 21:45 GMT | NZ Trade Balance (YoY) (Oct)
FOREX NEWS :
2013-11-26 05:44 GMT | EUR/USD at risk of further retracements - ANZ
2013-11-26 04:47 GMT | Gold giving its best impression of an upside attempt – something not seen in a while
2013-11-26 03:55 GMT | GBP/USD falling softly after posting a nasty bearish reversal candle on Monday
2013-11-26 02:16 GMT | USD/JPY taking a breather after closing Monday above key “correction resistance” at 101.46
-----------------------
EURUSD :
HIGH 1.35408 LOW 1.35151 BID 1.35301 ASK 1.35305 CHANGE 0.1% TIME 08 : 36:32
https://support.fxcc.com/email/technical/26112013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Risk of possible price appreciation is seen above the next resistance level at 1.3541 (R1). Clearance here would suggest next intraday target at 1.3553 (R2) and then final aim locates at 1.3566 (R3). Downwards scenario: Our technical outlook would turn into negative side below the support level at 1.3516 (S1). Possible price depreciation would then be targeting support at 1.3504 (S2) en route to final target at 1.3492 (S3).
Resistance Levels: 1.3541, 1.3553, 1.3566
Support Levels: 1.3516, 1.3504, 1.3492
--------------------------
GBPUSD :
HIGH 1.61742 LOW 1.61456 BID 1.61462 ASK 1.61469 CHANGE -0.05% TIME 08 : 36:33
https://support.fxcc.com/email/technical/26112013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Immediate resistance at 1.6174 (R1) remains in near-term focus, climb above this level might open way towards to next interim target at 1.6193 (R2) and any further rise would then be limited to final resistive measure at 1.6213 (R3) Downwards scenario: Opportunity for bearish oriented traders is seen below the important support level at 1.6133 (S1). Loss here would open door for the downtrend expansion towards to interim targets at 1.6114 (S2) and 1.6096 (S3).
Resistance Levels: 1.6174, 1.6193, 1.6213
Support Levels: 1.6133, 1.6114, 1.6096
------------------
USDJPY :
HIGH 101.71 LOW 101.333 BID 101.551 ASK 101.555 CHANGE -0.12% TIME 08 : 36:34
https://support.fxcc.com/email/technical/26112013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Next actual resistance level is seen at 101.91 (R1). If the market manages to surge higher, our focus will shift to the next target at 102.15 (R2) and any further price strengthening would be limited to final resistance at 102.39 (R3). Downwards scenario: Any penetration below the support level at 101.32 (S1) might create more scope for the instrument weakness in near-term perspective. We are looking to our immediate supports at 101.10 (S2) and 100.86 (S3) as next possible targets.
Resistance Levels: 101.91, 102.15, 102.39
Support Levels: 101.32, 101.10, 100.86
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Nov 27 2013
Unemployment claims in the USA expected to stay in their narrow range of 331K
Wednesday sees the UK's second estimate GDP figure is published, expected to come in at 0.8%. The preliminary business investment data is published, it fell by 2.7% last quarter the expectations is for a 2.3% rise in the latest figures. The GFK German consumer confidence is published expected in at 7.1, versus 7.0 in the previous month. Durable goods orders for the USA are expected to fall by 1.5%, the Chicago PMI is excepted to fall to 60.6, with unemployment claims in at 331K. Natural gas and oil storage figures for the USA need watching carefully in relation to the volatility of trading oil and gas. Retail sales in Japan are scheduled to fall to a 2.2% increase month on month. The New Zealand ANZ business confidence index is published in the evening, as is Australian data concerning new homes sales and private capital expenditure, the latter expected to fall by -1.1%. Looking towards Wednesday's market open the DJIA equity index future is flat, as is the SPX, with the NASDAQ up 0.53%. STOXX is down 0.23%, DAX down 0.03%, CAC down 0.52% and FTSE down 0.93%. NYMEX WTI oil closed down 0.44% on the Dayan Tuesday at $93.68 per barrel, NYMEX nat gas was up 0.77% at $3.82 per therm. COMEX gold was flat at $1241.50 per ounce and silver at$19.85 per ounce down 0.38%. The euro strengthened 0.4 percent to $1.3572 per dollar late in New York time Tuesday after rising to $1.3575, the highest level since Nov. 20th. The 17-nation currency was little changed at 137.46 yen. Japan’s currency appreciated 0.4 percent to 101.28 per dollar after gaining 0.5 percent, the most since Nov. 13th. Australia’s dollar fell 0.8 percent to 92.44 yen after decreasing 1 percent to 92.25, the weakest since Oct. 10th. The U.S. Dollar Index, which tracks the currency against 10 major counterparts, fell 0.2 percent to 1,018.83 after gaining 0.1 percent.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-11-27 12:00 GMT | USA. MBA Mortgage Applications (Nov 22)
2013-11-27 13:30 GMT | USA. Chicago Fed National Activity Index (Oct)
2013-11-27 13:30 GMT | USA. Durable Goods Orders (Oct)
2013-11-27 13:30 GMT | USA. Initial Jobless Claims (Nov 22)
FOREX NEWS :
2013-11-27 05:49 GMT | GBP/JPY finds offers at 164.90
2013-11-27 03:44 GMT | EUR/USD spikes in Asia, approaching 1.36
2013-11-27 01:47 GMT | AUD/USD pressured; glued to 0.91
2013-11-27 01:41 GMT | USD/JPY trading a bit higher Wednesday after posting a bearish reversal candle Tuesday
-------------------
EURUSD
HIGH 1.3599 LOW 1.35576 BID 1.35876 ASK 1.35881 CHANGE 0.11% TIME 08 : 07:20
https://support.fxcc.com/email/technical/27112013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: The next resistance level is at 1.3597 (R1). Penetration above that level might trigger upside action and expose our next resistive mean at 1.3620 (R2) en route towards to final target for today at 1.3646 (R3). Downwards scenario: Further correction development is limited now to the session low - 1.3560 (S1). If the price manages to surpass it we would suggest next intraday targets at 1.3542 (S2) and 1.3520 (S3).
Resistance Levels: 1.3597, 1.3620, 1.3646
Support Levels: 1.3560, 1.3542, 1.3520
-----------------------
GBPUSD :
HIGH 1.62305 LOW 1.61973 BID 1.62164 ASK 1.62176 CHANGE 0.01% TIME 08 : 07:21
https://support.fxcc.com/email/technical/27112013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Possible upwards formation is limited now to resistive measure at 1.6236 (R1). A break above it would suggest next intraday target at 1.6276 (R2) and if the price holds its momentum we can expect price increase towards to final resistance at 1.6309 (R3). Downwards scenario: If the price manages to overcome our next support barrier at 1.6188 (S1), we expect to see further market decline towards to our next target at 1.6145 (S2) and then next stop could be found at 1.6108 (S3) mark.
Resistance Levels: 1.6236, 1.6276, 1.6309
Support Levels: 1.6188, 1.6145, 1.6108
---------------------
USDJPY :
HIGH 101.652 LOW 101.184 BID 101.496 ASK 101.501 CHANGE 0.22% TIME 08 : 07:22
https://support.fxcc.com/email/technical/27112013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: A violation of next resistance at 101.89 (R1) might call for a run towards to next target at 102.13 (R2) and any further appreciation would then be limited to final target at 102.35 (R3). Downwards scenario: On the other hand, a break of the support at 101.22 (S1) is required to determine negative intraday bias and enable lower target at 101.00 (S2). Clearance of this target would open a path towards to final support for today at 100.76 (S3).
Resistance Levels: 101.89, 102.13, 102.35
Support Levels: 101.22, 101.00, 100.76
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Dec 02 2013
Australian Manufacturing Slips in November, U.S. Retail Holiday Sales Up 2.3%, Whilst Foot Traffic Declines.
The latest Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI) fell by 5.4 points in November, to 47.7 points (seasonally adjusted). This fall interrupted the promising run of mild expansion in the Australian PMI over the past two months (50 points marks the separation between expansion and contraction in the Australian PMI) and took the index back to its pre-election levels. The Australian PMI is again indicating varying degrees of contraction across the manufacturing sectors. U.S. retailers enjoyed a 2.3 percent sales gain over the critical Thanksgiving and Black Friday holiday time, in line with a prediction for the weakest holiday results since 2009. Sales at brick-and-mortar stores on Thanksgiving and Black Friday rose to $12.3 billion, according to a report yesterday from ShopperTrak a Chicago-based researcher who reiterated its prediction that sales for the entire holiday season will gain 2.4 percent, representing the smallest increase since the last recession. Sunday-Monday morning is a relatively quite opening for high impact news events, capital spending in Japan is predicted to rise by 3.1%. The HSBC final manufacturing PMI for China is expected to come in at 50.5. There is a raft of Australian data published overnight/early morning, with building approvals being the standout piece of data which is expected to fall to -4.3% from a positive 14.4% the previous month. Company operating profits are published for Australian companies. New Zealand's overseas trade index is expected in at 3.0%.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-12-02 08:58 GMT | EMU Markit Manufacturing PMI (Nov)
2013-12-02 09:28 GMT | UK Markit Manufacturing PMI (Nov)
2013-12-02 13:30 GMT | US Fed's Bernanke Speech
2013-12-02 15:00 GMT | US ISM Manufacturing PMI (Nov)
FOREX NEWS :
2013-12-02 07:52 GMT | AUD/USD firmer, eyes on 0.9170
2013-12-02 06:53 GMT | EUR/USD stabilizing around 1.3600
2013-12-02 04:10 GMT | USD/JPY, second topside failure at 102.60
2013-12-02 03:06 GMT | GBP/USD, if 1.64/6425 absorbed, potential into 1.70/1.73 - BBH
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EURUSD :
HIGH 1.36157 LOW 1.35812 BID 1.36032 ASK 1.36036 CHANGE 0% TIME 10 : 01:18
https://support.fxcc.com/email/technical/02122013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Possibility of price appreciation is seen above the key resistance at 1.3622 (R1). Break here would open a route towards to our intraday targets at 1.3643 (R2) and 1.3664 (R3). Downwards scenario: An important technical level at 1.3580 (S1) prevents possible market weakening. Break here is required to open road towards to interim target at 1.3558 (S2) en route to final aim at 1.3537 (S3).
Resistance Levels: 1.3622, 1.3643, 1.3664
Support Levels: 1.3580, 1.3558, 1.3537
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GBPUSD :
HIGH 1.64422 LOW 1.63684 BID 1.64126 ASK 1.64128 CHANGE 0% TIME 10 : 01:18
https://support.fxcc.com/email/technical/02122013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: Fractal level at 1.6442 (R1) offers next resistive structure on the upside. If the price manages to overcome it, we would expect further appreciation towards to our initial targets at 1.6471 (R2) and 1.6499 (R3). Downwards scenario: On the hourly chart GBPUSD looks overbought and possibility of correction is high. Friday’s high offers key support level at 1.6385 (S1). Break here is required to enable our next targets at 1.6356 (S2) and 1.6327 (S3).
Resistance Levels: 1.6442, 1.6471, 1.6499
Support Levels: 1.6385, 1.6356, 1.6327
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USDJPY :
HIGH 102.594 LOW 102.226 BID 102.559 ASK 102.562 CHANGE 0% TIME 10 : 01:18
https://support.fxcc.com/email/technical/02122013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Price comfortably ranging on the hourly chart, however we see potential to overcome our next resistive barrier at 102.61 (R1) later on today. Any prolonged movement above it would suggest next intraday targets at 102.82 (R2) and 103.05 (R3). Downwards scenario: On the other hand, successful retest of our support level at 102.21 (S1) would clear the way for a recovery action towards to our lower targets at 102.00 (S2) and 101.78 (S3) in potential.
Resistance Levels: 102.61, 102.82, 103.05
Support Levels: 102.21, 102.00, 101.78
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Dec 03 2013
Australia's RBA expected to keep cash rate at 2.5%, whilst UK house prices and construction expected to rise
Tuesday sees the publication of several key economic data, including Spanish unemployment data expected in at 44.3K below the 88K the previous month. In the UK the Halifax house price ides is expected to rise by 0.8% month on month, whilst the construction PMI is expected in at 59.3. Total vehicle sales in the USA might give an indication of the overall consumer sentiment and the existing appetite for new credit. Australia's GDP is expected in at 0.7% up from 0.6% the previous month. The yen fell 0.5 percent to 102.94 per dollar late in New York time Monday, touching the least since May 23rd. Japan’s currency fell 0.1 percent to 139.40 per euro after depreciating to 139.71 on Nov. 29th, the weakest level since October 2008. The euro dropped 0.4 percent to $1.3542. The yen fell to a six-month low versus the dollar Monday after reports showed manufacturing in China, Europe and the U.K. expanded last month, driving demand for risk and underscoring Japan’s currency’s role in the carry trade. Australia’s dollar was little changed after rallying from almost its weakest level in three months and New Zealand’s currency rose for a second day. The Reserve Bank of Australia meets overnight Monday/Tuesday, analysts predict policy makers will keep interest rates unchanged at 2.5 percent. The Aussie rose as much as 0.7 percent versus the greenback after falling as low as 90.56 on Nov. 29th, the least since Sept. 4th. New Zealand’s currency climbed 0.8 percent to 81.86 U.S. cents.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-12-03 09:30 GMT UK PMI Construction (Nov)
2013-12-03 10:00 GMT EMU Producer Price Index (YoY) (Oct)
2013-12-03 16:30 GMT US 4-Week Bill Auction
2013-12-03 23:30 GMT AU AiG Performance of Services Index (Nov)
FOREX NEWS :
2013-12-03 05:14 GMT USD/JPY breaks above 103.25 barrier
2013-12-03 04:35 GMT EUR/USD likely see stronger selling interest after 1.3550/60 loss
2013-12-03 03:39 GMT AUD/USD offers absorbing initial 0.9065 bounce post RBA
2013-12-03 03:34 GMT RBA leaves rates unchanged, keeps neutral tone
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EURUSD :
HIGH 1.35504 LOW 1.35244 BID 1.35497 ASK 1.35499 CHANGE 0% TIME 08 : 52:43
https://support.fxcc.com/email/technical/03122013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Discounted value of EURUSD determined negative bias on the short-term perspective. From the technical side, next resistance is seen at 1.3559 (R1). Only clearance here would allow possible gains, targeting 1.3576 (R2) and 1.3592 (R3). Downwards scenario: On the downside, next on tap is seen support level at 1.3524 (S1). Break here is required to enable lower targets at 1.3508 (S2) and 1.3491 (S3).
Resistance Levels: 1.3559, 1.3576, 1.3592
Support Levels: 1.3524, 1.3508, 1.3491
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GBPUSD :
HIGH 1.63783 LOW 1.63467 BID 1.6377 ASK 1.63775 CHANGE 0.01% TIME 08 : 52:43
https://support.fxcc.com/email/technical/03122013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: On the upside resistive measure at 1.6384 (R1) prevents further gains. Successful clearance here would suggest next intraday targets at 1.6407 (R2) and 1.6429 (R3). Downwards scenario: On the other hand if the price failed to gain momentum on the upside we expect to see clearance of our next support level at 1.6343 (S1). Our intraday targets locates at 1.6320 (S2) and 1.6297 (S3).
Resistance Levels: 1.6384, 1.6407, 1.6429
Support Levels: 1.6343, 1.6320, 1.6297
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USDJPY :
HIGH 103.379 LOW 102.833 BID 103.237 ASK 103.239 CHANGE -0.03% TIME 08 : 52:43
https://support.fxcc.com/email/technical/03122013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Market sentiment has improved for the bullish oriented traders. Fractals level at 103.43 (R1) offers a key resistance level. Break here would suggest higher targets at 103.67 (R2) and 103.92 (R3). Downwards scenario: Our bearish expectations remain intact below the key support level at 102.81 (S1). Price penetration below it would allow further declines towards to lower targets at 102.56 (S2) and 102.30 (S3).
Resistance Levels: 103.43, 103.67, 103.92
Support Levels: 102.81, 102.56, 102.30
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Dec 04 2013
Will the Bank of Canada lower base rates from 1%? And will USA job numbers from ADP enjoy a seasonal boost?
Wednesday there's a raft of PMIs published early morning, Spanish and Italian final services PMIs with Europe's final services PMI also published expected in at 50.9. The UK services PMI is expected in at 62.1. There are OPEC meetings all day Wednesday, naturally these could have a positive, or negative impact on the price of oil. Retail sales for Europe is expected in at +0.2% from the -0.6% negative the previous month. Europe's revised GDP growth is expected in at 0.1%. The USA ADP employment numbers are expected to show an improvement of circa 185K jobs created for the month. Canada's trade balance is expected in up to $0.7bn, the USA's is expected in at $40.3 bn. The bank of Canada will publish its decision on its rate setting, expected to stay at 1.00%. Further USA news comes in the form of new home sales expected in at circa 432K, whilst the USA PMI for non manufacturing is expected in at 55.4. Crude oil inventories completes the day for USA high impact news releases with the beige book data also published. Australia's trade balance completes the day for news events. The U.S. 10-year yield declined one basis point on Tuesday, or 0.01 percentage point, to 2.78 percent late New York time. It fell as much as four basis points after rising one basis point earlier. It reached 2.81 percent yesterday, the highest since Nov. 21st. The price of the 2.75 percent security maturing in November 2023 gained 3/32, or 94 cents per $1,000 face amount, to 99 23/32.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-12-04 09:28 GMT | UK Markit Services PMI (Nov)
2013-12-04 10:00 GMT | EMY Gross Domestic Product s.a. (YoY) (Q3)
2013-12-04 15:00 GMT | BoC Interest Rate Decision
2013-12-04 19:00 GMT | US Fed's Beige Book
FOREX NEWS :
2013-12-04 03:50 GMT | NZD/USD rejected by daily kijun, bearish below 0.8340/50
2013-12-04 03:35 GMT | Yen bearish trend to continue - JPMorgan
2013-12-04 02:37 GMT | EUR/JPY engaged in intraday battle, loss of H1 ichimoku cloud weighs
2013-12-04 01:57 GMT | AUD/USD breaks into new trend lows, sovereign bids sub 0.9050?
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EURUSD :
HIGH 1.35976 LOW 1.35816 BID 1.35843 ASK 1.35845 CHANGE 0% TIME 08 : 43:56
https://support.fxcc.com/email/technical/04122013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: A violation of next resistance at 1.3614 (R1) might call for a run towards to next target at 1.3629 (R2) and any further appreciation would then be limited to final target at 1.3644 (R3). Downwards scenario: Risk of market weakening is seen below the support level at 1.3580 (S1). Loss here is required to enable our supportive barrier at 1.3565 (S2) en route towards to final target for today at 1.3550 (S3).
Resistance Levels: 1.3614, 1.3629, 1.3644
Support Levels: 1.3580, 1.3565, 1.3550
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GBPUSD :
HIGH 1.63974 LOW 1.63781 BID 1.63918 ASK 1.63922 CHANGE 0.01% TIME 08 : 43:56
https://support.fxcc.com/email/technical/04122013/GBPUSD.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Next resistive barrier locates at 1.6407 (R1). Violation here is required to provide a signal of further market strengthening. In such case, resistances at 1.6429 (R2) and 1.6450 (R3) acts as next attractive points for the bullish oriented traders. Downwards scenario: As long as price stays below the 20 SMA our technical outlook would be negative. Extension lower the next support level at 1.6374 (S1) is being able to drive market price towards to our next targets at 1.6353 (S2) and 1.6331(S3).
Resistance Levels: 1.6407, 1.6429, 1.6450
Support Levels: 1.6374, 1.6353, 1.6331
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USDJPY :
HIGH 102.663 LOW 102.239 BID 102.586 ASK 102.589 CHANGE 0% TIME 08 : 43:56
https://support.fxcc.com/email/technical/04122013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Resistance at 102.75 (R1) limits possible upwards penetration. Break here is required to enable next interim target at 102.94 (R2) en route towards to final aim for today at 103.11 (R3). Downwards scenario: Next support level lies at 102.30 (S1). Penetration below it might shift short-term tone to the negative side. Our intraday targets locates at 102.14 (S2) and 101.96 (S3).
Resistance Levels: 102.75, 102.94, 103.11
Support Levels: 102.30, 102.14, 101.96
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Dec 05 2013
UK BoE and ECB publish their rate and monetary easing decisions whilst UK chancellor will deliver his 'Autumn statement'.
Thursday witnesses the UK's BoE MPC publish its interest rate policy decision and the details of its monetary easing policy decision which is expected to remain the same at £375bn. The statement covering the decisions will be of keen interest to investors. The UK's chancellor will give his autumn finance statement. Europe's ECB will publish its rate decision, expected to stay at 0.25%. Canada reports its building permits and the IVEY PMI expected in at 60.2, whilst the USA publishes its preliminary GDP figures expected in at 3.1%, with unemployment claim numbers at circa 322K for the week. The USA publishes its factory orders, predicted down by 0.7%. The yen rallied 0.2 percent to 102.36 versus the dollar late in New York Wednesday, after touching 103.38 Tuesday, the weakest level since May 23rd. The U.S. currency was little changed at $1.3593 per euro. The yen gained 0.1 percent to 139.13 per euro. The U.S. Dollar Index, which tracks the U.S. currency versus its 10 major counterparts, was little changed at 1,020.94, after rising to 1,025.36 yesterday, the highest level since Sept. 13th. The yen rallied for a second day against the dollar as stronger-than-forecast U.S. economic data spurred speculation the Federal Reserve will reduce stimulus that has driven up stocks globally. Bank of Canada policy makers kept their benchmark rate on overnight loans between commercial banks at 1 percent, where it’s been for more than three years, as forecast by all 22 economists in a Bloomberg survey. The Canadian dollar fell 0.3 percent to C$1.0684 versus the greenback, reaching the lowest level since May 2010.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-12-05 09:05 GMT | Bank of Japan Governor Kuroda Speech
2013-12-05 12:00 GMT | BoE Interest Rate Decision (Dec 5)
2013-12-05 12:45 GMT | ECB Interest Rate Decision (Dec 5)
2013-12-05 13:30 GMT | US Gross Domestic Product Annualized (Q3)
FOREX NEWS :
2013-12-05 03:50 GMT | NZD/USD in no man's land; capped below 0.8240/50
2013-12-05 02:53 GMT | AUD/USD short squeeze pressing against 0.9050
2013-12-05 02:08 GMT | GBP/USD: If upside clears, next target 1.65/66 - 2ndSkies
2013-12-05 01:46 GMT | EUR/AUD dropping from monthly highs
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EURUSD
HIGH 1.36394 LOW 1.358 BID 1.36243 ASK 1.36246 CHANGE 0% TIME 08 : 50:26
https://support.fxcc.com/email/technical/05122013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Instrument gained momentum on the upside recently, turning short-term bias to the positive side. Next resistive structure on the way lies at 1.3641 (R1), break here would suggest next intraday targets at 1.3658 (R2) and 1.3674 (R3). Downwards scenario: On the other side, depreciation below the support barrier at 1.3606 (S1) might provide sufficient space for the recovery action. In such case we would suggest next intraday targets at 1.3588 (S2) and then 1.3571 (S3).
Resistance Levels: 1.3641, 1.3658, 1.3674
Support Levels: 1.3606, 1.3588, 1.3571
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GBPUSD :
HIGH 1.63971 LOW 1.637 BID 1.63842 ASK 1.63845 CHANGE 0% TIME 08 : 50:26
https://support.fxcc.com/email/technical/05122013/GBPUSD.png
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Possibility of ascending structure is seen above the fractal level at 1.6404 (R1). Break here is required to clear the way towards to higher targets at 1.6426 (R2) and 1.6447 (R3). Downwards scenario: On the other hand, progress below the initial support level at 1.6364 (S1) might initiate bearish pressure and expose our intraday targets at 1.6342 (S2) and 1.6321 (S3) later on today.
Resistance Levels: 1.6404, 1.6426, 1.6447
Support Levels: 1.6364, 1.6342, 1.6321
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USDJPY :
HIGH 102.442 LOW 101.99 BID 102.114 ASK 102.116 CHANGE 0% TIME 08 : 50:26
https://support.fxcc.com/email/technical/05122013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: We see potential of market strengthening in near-term perspective. Next on tap is seen resistance level at 102.47 (R1). Break here would suggest next intraday targets at 102.67 (R2) and 102.90 (R3). Downwards scenario: On the downside, USDJPY might encounter supportive measures at 101.82 (S1). Break here would open the way for a test of our next targets at 101.60 (S2) and 101.39 (S3) later on today.
Resistance Levels: 102.47, 102.67, 102.90
Support Levels: 101.82, 101.60, 101.39
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Dec 06 2013
NFP day could witness a surprise 'jobs' number
Friday sees Japan's leading indicators published, France's trade balance is expected in at €-5.1bn, Germany's factory orders are expected to fall by -0.4%. Canada's unemployment number is expected to rise to 7.0%. Non-farm jobs created are expected in at circa 184K, with the USA unemployment expected in at 7.2%. Personal spending in the USA is expected in up 0.4%, whilst the preliminary university of Michigan survey of consumer sentiment expected in at 76.2. Later on Friday sees FOMC member Evans hold court, with the BOJ governor Kuroda holding court later in the evening. Late Friday evening-early Saturday morning China's trade balance is published. The euro advanced 0.6 percent to $1.3671 late in New York on Thursday after rising to $1.3677, the strongest level since Oct. 31st. The single currency was little changed at 139.10 yen after weakening as much as 0.5 percent. The dollar fell 0.6 percent to 101.74 yen. The euro rose to a five-week high versus the dollar as European Central Bank President Mario Draghi refrained from introducing further monetary stimulus. Sterling slumped 0.9 percent to 83.74 pence per euro late London time Thursday, the biggest decline since March 7th. The pound dropped 0.4 percent to $1.6315 after climbing to $1.6443 on Dec. 2nd, the highest since August 2011. The DJIA equity index future is at the time of writing down 0.43%, SPX future down 0.44%, NASDAQ down 0.11%. STOXX future is down 1.24%, DAX down 0.50%, CAC down 1.21%, FTSE future down 0.34%.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-12-06 13:30 GMT | USA. Nonfarm Payrolls (Nov)
2013-12-06 13:30 GMT | USA. Unemployment Rate (Nov)
2013-12-06 13:30 GMT | Canada. Unemployment Rate (Nov)
2013-12-06 13:30 GMT | Canada. Net Change in Employment (Nov)
FOREX NEWS :
2013-12-06 04:45 GMT | Yen slides on GPIF headlines
2013-12-06 04:45 GMT | EUR/USD not relenting on upside – which shows just how strong Europe is perceived to be
2013-12-06 03:38 GMT | USD/JPY continues downside correction despite good US numbers from Thursday
2013-12-06 00:12 GMT | GBP/USD pulling back after touching upside projected target at 1.6425 this week
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EURUSD :
HIGH 1.36742 LOW 1.36566 BID 1.36608 ASK 1.36611 CHANGE 0.01% TIME 08 : 37:57
https://support.fxcc.com/email/technical/06122013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Market sentiment has improved for the bullish oriented traders. Fresh high formed yesterday offers key resistance level at 1.3676 (R1). In case of price appreciation above it our focus would be shifted to the higher targets at 1.3692 (R2) and 1.3709 (R3). Downwards scenario: On the other hand, successful retest of our next support level at 1.3640 (S1) might provide sufficient momentum for the price acceleration towards to interim target at 1.3621 (S2). Final aim for today locates at 1.3599 (S3).
Resistance Levels: 1.3676, 1.3692, 1.3709
Support Levels: 1.3640, 1.3621, 1.3599
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GBPUSD :
HIGH 1.63414 LOW 1.6319 BID 1.63243 ASK 1.63249 CHANGE 0% TIME 08 : 37:57
https://support.fxcc.com/email/technical/06122013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Measures of resistance might be activating when the pair approaches the 1.6340 (R1) mark. Break here would suggest next interim target at 1.6369 (R2) and If the price keeps its momentum we expect an exposure of 1.6392 (R3). Downwards scenario: On the downside our attention is shifted to the immediate support level at 1.6310 (S1). Break here is required to enable bearish forces and expose our intraday targets at 1.6289 (S2) and 1.6266 (S3).
Resistance Levels: 1.6340, 1.6369, 1.6392
Support Levels: 1.6310, 1.6289, 1.6266
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USDJPY :
HIGH 102.167 LOW 101.631 BID 102.114 ASK 102.117 CHANGE 0% TIME 08 : 37:57
https://support.fxcc.com/email/technical/06122013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Currently price deviates from its initial downside extension. Clearance of our next resistance level at 102.30 (R1) might trigger corrective action towards to our initial targets at 102.58 (R2) and 102.81 (R3). Downwards scenario: We do expect some pull-backs development on the downside below the support level at 101.93 (S1). Short-term momentum on the negative side might open the way towards to immediate supports at 101.69 (S2) and 101.43 (S3).
Resistance Levels: 102.30, 102.58, 102.81
Support Levels: 101.93, 101.69, 101.43
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Dec 09 2013
China's trade surplus reaches a four year high as exports rise signalling strength returning to the world’s second largest economy
Sunday evening's trading session sees a raft of information published from Japan, the final GDP figure is predicted to come in at 0.4%, with the final GDP price predicted to come in at -0.3%, bank lending should come in at 2% improvement. There is important inflation data published on Sunday regarding China's economy; the CPI is predicted to come in at 3.0% with PPI expected to be in at -1.5%. Monday sees Germany's trade balance published; expected in at €17.4bn positive, Germany's month on month industrial prediction is expected in at 0.8%. The Swiss unemployment rate is predicted to come in at 3.2%, with retail sales up 1.7%. Europe's Sentix index is published with the expectation of a print of 10.5. There are also various Eurogroup meetings held. Monday also sees the UK BoE governor Mark Carney deliver a speech as does a significant person from the FOMC, Mr Bullard. The UK RICS house price balance is expected in at 59% suggesting that 59% of surveyors questioned are witnessing higher house prices in the UK. Japan publishes data on manufacturing index activity, predicted to come in at 17.2, with tertiary activity expected to print at 0.3%. Later that evening Australia's leading confidence index, from the National Australia Bank, is published, the expectation is for a print of circa 5, which is similar to the previous month's print. Australia's home loans figure is expected to come in at 1.3%. The consumer confidence index for Japan is published, expected in at 44.2, up from 42.1 the previous month.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-12-09 24h | EU. Eurogroup meeting
2013-12-09 11:00 GMT | EU. Industrial Production n.s.a. w.d.a. (YoY) (Oct)
2013-12-09 13:15 GMT | Canada. Housing Starts s.a (YoY) (Nov)
2013-12-09 21:45 GMT | New Zealand. Electronic Card Retail Sales (YoY) (Nov)
FOREX NEWS :
2013-12-09 06:16 GMT | EUR/USD back in the red and below breakout point of 1.3708 ahead of European session
2013-12-09 04:29 GMT | Gold opens the week on a flat note; 1172 technical target looms
2013-12-09 03:45 GMT | GBP/USD pulling back after touching upside projected target at 1.6425 last week
2013-12-09 01:53 GMT | EUR/JPY off highs but nicely higher for session on “risk on” mood and sluggish Japanese data
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EURUSD :
HIGH 1.37212 LOW 1.36997 BID 1.37 ASK 1.37002 CHANGE 0% TIME 08 : 44:58
https://support.fxcc.com/email/technical/09122013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EUR/USD is entering the retracement stage on the hourly chart however we see potential for further appreciation towards to our targets at 1.3730 (R2) and 1.3748 (R3) if the price manages to overcome key resistance measure at 1.3712 (R1). Downwards scenario: In terms of technical levels, risk of price depreciation is seen below the next support level at 1.3658 (S1). Loss here would suggest to monitor marks at 1.3640 (S2) and 1.3621 (S3) as possible intraday targets.
Resistance Levels: 1.3712, 1.3730, 1.3748
Support Levels: 1.3658, 1.3640, 1.3621
------------------------
GBPUSD :
HIGH 1.63535 LOW 1.63227 BID 1.63504 ASK 1.63507 CHANGE 0% TIME 08 : 44:58
https://support.fxcc.com/email/technical/09122013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Possible upwards formation is limited now to resistive measure at 1.6360 (R1). A break above it would suggest next intraday target at 1.6392 (R2) and if the price holds its momentum we can expect price increase towards to final resistance at 1.6423 (R3). Downwards scenario: Next challenge on the downside is seen at 1.6318 (S1). Breakthrough of this mark would open way for a downside expansion and could possibly trigger our initial targets at 1.6290 (S2) and 1.6266 (R3) later on today.
Resistance Levels: 1.6360, 1.6392, 1.6423
Support Levels: 1.6318, 1.6290, 1.6266
------------------------
USDJPY :
HIGH 103.22 LOW 102.89 BID 103.037 ASK 103.039 CHANGE 0% TIME 08 : 44:58
https://support.fxcc.com/email/technical/09122013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Immediate resistance at 103.13 (R1) remains in near-term focus, climb above this level might open way for a stronger move towards to next interim target at 103.29 (R2) and any further rise would then be limited to final resistive measure at 103.46 (R3) . Downwards scenario: Risk of market weakening is seen below the support level at 102.77 (S1). Loss here is required to allow further declines and expose our supportive barrier at 102.62 (S2) en route towards to final target for today at 102.46 (S3).
Resistance Levels: 103.13, 103.29, 103.46
Support Levels: 102.77, 102.62, 102.46
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Dec 10 2013
ECOFIN meetings might affect Euro direction, whilst important USA economic data is published in the New York session
Tuesday sees the publication of China's industrial production figures, expected in at 10.2%, retail sales in China are predicted to rise by 13.2%, with fixed asset investment predicted to rise by 20.1% - year on year. In Europe both French and Italian Industrial production figures are published, both expected in at circa 0.2-0.3%. The UK's manufacturing production is expected to fall to 0.4% from the previous month's 1.1%. The UK's trade balance is expected to stay at circa £9.1 bn for the month. The UK's NIESR also publishes its latest data, suggesting that economic activity will be stable at circa 0.7%. In Europe the ECOFIN meetings will take place with Mario Draghi then holding court with a speech discussing the outcomes of the meetings in relation to any policy change, or additions. In the USA there is a raft of information published in the afternoon trading session; the NFIB small business index is published expected in at 92.7. JOLTS job openings are expected in at 3.96 million, with wholesale inventories in the USA expected to shrink to 0.3%. Later in the evening on Tuesday Australia's Westpac consumer confidence index is published, the expectation is for a figure similar to the previous month of 1.9%. Japan publishes its core machinery orders, expected in at 0.9%, up from the previous month's negative print. The corporation inflation number is also printed, expected in at 2.7% year on year. Equity index futures are looking insipid with regards to tomorrow's trading opportunities, the DJIA equity index future is up 0.05%, SPX future up 0.07%, NASDAQ up 0.07%. Looking towards the European open the STOXX future is up 0.34%, DAX up 0.35%, CAC up 0.08% and the FTSE future is up 0.22%. NYMEX WTI oil closed flat on the day on Monday at $97.34 per barrel, NYMEX nat gas closed the day up a significant 2.87% at $4.23 per therm. COMEX gold closed the day up 0.42% at $1234.20 per ounce with silver up 0.91% at $19.70 per ounce. The loonie, as the Canadian dollar is known, rose 0.1 percent to C$1.0627 per U.S. dollar at 5 p.m. in Toronto after falling as much as 0.3 percent. It touched C$1.0708 on Dec. 6th, the weakest since May 2010. One loonie buys 94.10 U.S. cents.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-12-10 12:00 GMT | EU. ECB President Draghi's Speech
2013-12-10 15:00 GMT | UK. NIESR GDP Estimate (3M) (Nov)
2013-12-10 23:30 GMT | Australia. Westpac Consumer Confidence (Dec)
2013-12-10 23:50 GMT | Japan. Machinery Orders (YoY) (Oct)
FOREX NEWS :
2013-12-10 05:41 GMT | AUD/USD capped by 0.91/9120 offers cluster
2013-12-10 02:44 GMT | USD/JPY rolling over short-term as traders sell greenback; 103.54 remains key resistance
2013-12-10 02:16 GMT | EUR/USD bursts through 1.3750 barrier
2013-12-10 01:51 GMT | NZD/USD tilting towards 0.83 handle
---------------------
EURUSD :
HIGH 1.37676 LOW 1.37341 BID 1.37498 ASK 1.37501 CHANGE 0% TIME 08 : 52:41
https://support.fxcc.com/email/technical/10122013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Next barrier on the upside lie at 1.3768 (R1). Surpassing of this level might enable our initial target at 1.3788 (R2) and any further gains would then be limited to last resistive structure at 1.3806 (R3). Downwards scenario: On the other hand, price pattern suggests bearish potential if the instrument manages to overcome next support level at 1.3728 (S1). Possible price regress could expose our initial targets at 1.3706 (S2) and 1.3684 (S3) in potential.
Resistance Levels: 1.3768, 1.3788, 1.3806
Support Levels: 1.3728, 1.3706, 1.3684
-------------------
GBPUSD :
HIGH 1.64657 LOW 1.64186 BID 1.64491 ASK 1.64497 CHANGE 0% TIME 08 : 52:41
https://support.fxcc.com/email/technical/10122013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: On the upside potential is seen for a break above the resistance at 1.6465 (R1). In such case we would suggest next target at 1.6493 (R2) and any further rise would then be limited to final resistance at 1.6518 (R3). Downwards scenario: On the other hand, successful retest of our next support level at 1.6428 (S1) might provide sufficient momentum for the price acceleration towards to interim target at 1.6403 (S2). Final aim for today locates at 1.6382 (S3).
Resistance Levels: 1.6465, 1.6493, 1.6518
Support Levels: 1.6428, 1.6403, 1.6382
------------------
USDJPY :
HIGH 103.394 LOW 103.167 BID 103.341 ASK 103.344 CHANGE 0% TIME 08 : 52:41
https://support.fxcc.com/email/technical/10122013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: Upside risk aversion is seen above the next resistance level at 103.38 (R1). Appreciation above it might lead to the positive intraday bias formation towards to our next targets at 103.70 (R2) and 104.03 (R3). Downwards scenario: Possible pull back development is limited now to the key supportive barrier at 102.92 (S1). Only loss here would be considered as a beginning of a retracement expansion. Our intraday targets locates at 102.68 (S2) and 102.47 (S3).
Resistance Levels: 103.38, 103.70, 104.03
Support Levels: 102.92, 102.68, 102.47
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Dec 12 2013
Markets sell of due to 'taper' rumours, will better than expected unemployment numbers raise a seasonal cheer?
Thursday Mario Draghi speaks, whilst the Swiss publish their monetary policy intentions and assessment with the Libor rate also published. The Swiss bank head Jordan will also hold a conference; the ECB will publish the latest monetary policy in the form of a monthly bulletin. European industrial production is expected to rise to 0.4% from the previous month's fall of -0.5%. In the USA core retail sales data is published, expected in at 0.2%, with retail sales up 0.6%. Unemployment claims are expected in at circa 321K after the surprise fall last week of 289K. Import prices in the USA are expected to fall to -0.7% (month on month). Canada's central bank governor Poloz speaks late on Thursday, whilst the business New Zealand index is published, expected to be similar to the previous month's print of 55.7, whilst Japan's revised industrial production is expected in at 0.5%, identical to the previous month's print. NYMEX WTI oil closed down on Wednesday by 1.13%, at $97.41 per barrel, with NYMEX nat gas closing up 2.43% on the day at $4.34 per therm. WTI advanced 5.3 percent last week, the most in five months, as U.S. crude inventories fell for the first time in 11 weeks and TransCanada Corp. announced plans to start part of its Keystone pipeline to the Gulf Coast from Cushing, Oklahoma, the delivery point for NYMEX futures. COMEX gold closed down 0.61% at $1253.40 per ounce with silver at $20.28 down 0.17% on the day. The DJIA equity index future is (at the time of writing) down 0.89%, SPX down 1.24% NASDAQ down 1.31%. Looking towards Europe's open the STOXX 50 future is down 0.61%, DAX future is down 0.54%, CAC future is down 0.34%, FTSE future down 0.81%.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-12-12 09:00 GMT | EU. ECB Monthly Report
2013-12-12 09:00 GMT | Switzerland. SNB press conference
2013-12-12 13:30 GMT | USA. Retail Sales (MoM) (Nov)
2013-12-12 18:05 GMT | Canada. BoC Governor Poloz Speech
FOREX NEWS :
2013-12-12 02:49 GMT | Gold sees a little downside Wednesday; 1268.30 remains resistance
2013-12-12 01:19 GMT | USD/JPY heading to the 100 handle?
2013-12-12 00:41 GMT | AUD/USD spikes
2013-12-12 00:20 GMT | GBP/USD posts bearish reversal candle Wednesday. Could it have a date with 1.6250?
------------------
EURUSD :
HIGH 1.37981 LOW 1.37731 BID 1.37889 ASK 1.37892 CHANGE 0% TIME 08 : 38:32
https://support.fxcc.com/email/technical/12122013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Possibility of market strengthening is seen above the immediate resistive barrier at 1.3806 (R1). Price extension above it is required to validate our next intraday targets at 1.3832 (R2) and 1.3860 (R3). Downwards scenario: While instrument trades above the moving averages, our short-term bias would stay positive though penetration below the support level at 1.3757 (S1) might open way towards to lower targets at 1.3728 (S2) and 1.3706 (S3).
Resistance Levels: 1.3806, 1.3832, 1.3860
Support Levels: 1.3757, 1.3728, 1.3706
---------------------
GBPUSD :
HIGH 1.638 LOW 1.63533 BID 1.63654 ASK 1.63659 CHANGE 0% TIME 08 : 38:32
https://support.fxcc.com/email/technical/12122013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Market descended, however price appreciation might be possible above the next resistance level at 1.6398 (R1). Break here is required to enable next attractive points at 1.6428 (R2) and 1.6465 (R3). Downwards scenario: Next support level is seen at 1.6346 (S1), any penetration below it might activate downside pressure and enable lower target at 1.6319 (S2). Any further market decline would then be limited to 1.6290 (S3).
Resistance Levels: 1.6398, 1.6428, 1.6465
Support Levels: 1.6346, 1.6319, 1.6290
-----------------------
USDJPY :
HIGH 102.754 LOW 102.387 BID 102.649 ASK 102.651 CHANGE 0% TIME 08 : 38:32
https://support.fxcc.com/email/technical/12122013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: Any upside actions looks limited to resistance level at 102.93 (R1). Surpassing of this level might enable next target at 103.15 (R2) and any further gains would then be targeting final mark at 103.38 (R3) in potential. Downwards scenario: On the downside our attention is shifted to the immediate support level at 102.30 (S1). Break here is required to enable bearish forces and expose our intraday targets at 102.10 (S2) and 101.92 (S3).
Resistance Levels: 102.93, 103.15, 103.38
Support Levels: 102.30, 102.10, 101.92
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Dec 13 2013
Aussie dollar sells off after RBA governor sets a target to devalue the Aussie
Friday sees the production of the German WPI, wholesale production inflation expected to be at 0.4% month on month, Swiss producer inflation is expected in at 0.3%, whilst employment change in Europe is expected to remain flat. USA core PPI is published on Friday, expected to be flat, with core PPI expected at 0.1% The DJIA closed down 0.66% on Thursday, the SPX down 0.38% and the NASDAQ down 0.14%. European markets also closed in the red; STOXX down 0.65%, CAC down 0.43%, DAX down 0.66% UK FTSE down 0.97%. Equity index futures are, at the time of writing, pointing to a negative opening in Europe on Friday and the USA. The DJIA equity index future is down 0.69%, SPX down 0.33%, the NASDAQ future down 0.30%. European futures are also down sharply; STOXX down 0.68%, DAX future down 0.70%, CAC future down 0.43% with the FTSE future down 1.15%. Commodities closed the day mainly downing Thursday; NYMEX WTI oil down 0.05% at $97.39 per barrel, NYMEX nat gas closed up 0.90% at $4.38 per therm due to storage data being below expectations. COMEX gold sold off sharply to close the day down 2.56% at $1225.00 per ounce, with silver on COMEX down a substantial 4.25% at $19.49 per ounce. The greenback gained 0.2 percent to $1.3753 per euro after falling to $1.3811 Wednesday, its lowest level since Oct. 29th. The U.S. currency climbed 0.9 percent to 103.38 yen, the strongest level since May 23rd. Japan’s currency slipped 0.7 percent to 142.18 yen per euro.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-12-13 10:00 GMT | EU. Employment Change (YoY) (Q3)
2013-12-13 13:00 GMT | Poland. Consumer Price Index (MoM) (Nov)
2013-12-13 13:30 GMT | USA. Producer Price Index (YoY) (Nov)
2013-12-13 13:30 GMT | USA. Producer Price Index ex Food & Energy (YoY) (Nov)
FOREX NEWS :
2013-12-13 04:08 GMT | EUR/JPY just above 142.62 3rd wave resistance; possible 4th wave target 138.65
2013-12-13 03:55 GMT | USD/JPY sets fresh 2013 highs
2013-12-13 02:32 GMT | AUD/USD correcting higher after Thursday's selling hysteria
2013-12-13 00:39 GMT | EUR/USD posts bearish reversal candle Thursday – may be time for a pullback
-------------------
EURUSD
HIGH 1.37596 LOW 1.37421 BID 1.37497 ASK 1.37503 CHANGE 0% TIME 08 : 36:44
https://support.fxcc.com/email/technical/13122013/EURUSD.png
OUTLOOK SUMMARY Down
TREND CONDITION Downward penetration
TRADERS SENTIMENT Bearish
IMPLIED VOLATILITY Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Short- term tendency is bearish as both moving averages are pointing down. Though risk of market strengthening is seen above the resistance level at 1.3777 (R1). Clearance here would open way towards to next targets at 1.3792 (R2) and 1.3806 (R3). Downwards scenario: A break of the support at 1.3739 (S1) is required to determine negative intraday bias and enable lower target at 1.3723 (S2). Clearance of this target would open a path towards to final support for today at 1.3706 (S3).
Resistance Levels: 1.3777, 1.3792, 1.3806
Support Levels: 1.3739, 1.3723, 1.3706
----------------
GBPUSD :
HIGH 1.636 LOW 1.63328 BID 1.63431 ASK 1.63439 CHANGE 0% TIME 08 : 36:44
https://support.fxcc.com/email/technical/13122013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Rise above the resistance at 1.6369 (R1) might provide sufficient space for the appreciation towards to next target at 1.6384 (R2). Further market increase above it would then face final resistive structure at 1.6398 (R3). Downwards scenario: If the price manages to overcome our next support barrier at 1.6319 (S1), we expect to see further market decline towards to our next target at 1.6304 (S2) and then next stop could be found at 1.6290 (S3) mark.
Resistance Levels: 1.6369, 1.6384, 1.6398
Support Levels: 1.6319, 1.6304, 1.6290
---------------------------
USDJPY :
HIGH 103.921 LOW 103.355 BID 103.728 ASK 103.732 CHANGE -0.01% TIME 08 : 36:44
https://support.fxcc.com/email/technical/13122013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Possibility of price progress is seen above the next resistance level at 103.91 (R1). Breakthrough here would suggest our interim target at 104.18 (R2) and then mark at 104.41 (R3) acts as last resistive measure for today. Downwards scenario: On a slightly longer term we expect pullback formation. Risk of market depreciation is seen below the next support level at 103.46 (S1). Clearance here would suggest lower targets at 103.24 (S2) and 103.06 (S3) in potential.
Resistance Levels: 103.91, 104.18, 104.41
Support Levels: 103.46, 103.24, 103.06
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Dec 16 2013
All eyes on the FOMC meeting later this week, whilst Markit Economics PMIs also take centre stage
Sunday evening witnesses the publication of the Westpac consumer sentiment survey for New Zealand, the previous print came in at 115.4, the anticipation is for a similar result. The Japanese Tankan manufacturing index is published late Sunday evening, predictions are for a figure of 15, up from the previous month's figure of 12. The non-manufacturing Tankan index is also published, expected in at 16 from the previous print of 12. In the UK the Rightmove asking house price index is published, in the previous month asking prices fell by 2.4% therefore an improvement is expected. The Chinese HSBC flash manufacturing index is published late Sunday evening with the expectations that a small rise from 50.5 to 51 will be witnessed. Monday sees the publication of French flash PMI manufacturing and services data courtesy of Markit economics; both indices are expected to rise, manufacturing to 49.1, services to 48.9. Germany's twin PMI Markit gauges are also published; manufacturing predicted in at 53.1 services at 55.2. Finally Europe's are published with manufacturing predicted in at 51.9 with services at 51.5. Europe's trade balance published Monday is expected in at €15.2 bn, meanwhile the Bundesbank's tentative monthly survey is published. In the USA we witness the publication of the Empire State manufacturing survey, last month saw a surprise fall to -2.2%, a restoration of positive data is expected, with the print potentially coming in at 4.9. Flash Markit manufacturing PMI is published for the USA, expected in at 54.9, whilst industrial production is expected to rise by 0.6% from the previous month's figure of -0.1%. The ECB president Mario Draghi speaks mid-afternoon European time on Monday, the expectation is that he'll cover the subjects of: the strength of the euro, countries such as Ireland moving out of various bailout imposed austerity measures, interest rate reductions, European banking union and the potential for quantitative easing - through a bond buying programme.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-12-16 13:58 GMT | USA. Markit Manufacturing PMI (Dec)Preliminar
2013-12-16 14:00 GMT | EU. ECB President Draghi's Speech
2013-12-16 14:00 GMT | USA. Net Long-Term TIC Flows (Oct)
2013-12-16 14:15 GMT | USA. US Industrial Production (MoM) (Nov)
FOREX NEWS :
2013-12-13 22:14 GMT | Session recap: Dollar extends the swing ahead FOMC
2013-12-13 21:58 GMT | AUD/USD, stay bearish?
2013-12-13 21:42 GMT | EUR/CAD a sure sell?
2013-12-13 21:25 GMT | GBP/JPY ending the week on the back foot
EURUSD :
HIGH 1.3761 LOW 1.37287 BID 1.3756 ASK 1.37564 CHANGE 0% TIME 08 : 40:51
https://support.fxcc.com/email/technical/16122013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Medium term bias tends to slide into the bearish side. Further market rise is limited now to the key resistive barrier at 1.3777 (R1), clearance here is required to enable next resistances at 1.3792 (R2) and last one at 1.3806 (R3). Downwards scenario: Risk of market decline is seen below the next support level at 1.3737 (S1). Loss here might downgrade currency rate towards to the next supportive means at 1.3723 (S2) and 1.3706 (S3) in potential.
Resistance Levels: 1.3777, 1.3792, 1.3806
Support Levels: 1.3737, 1.3723, 1.3706
--------------------
GBPUSD :
HIGH 1.63095 LOW 1.62871 BID 1.63069 ASK 1.63075 CHANGE 0% TIME 08 : 40:51
https://support.fxcc.com/email/technical/16122013/GBPUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Even though instrument trades above the moving averages, it keeps immediate downside potential. Next hurdle is seen at 1.6314 (R1), break above it might extend gains towards to next targets at 1.6333 (R2) and 1.6353 (R3). Downwards scenario: Possible downside extension might face next supportive barrier at 1.6290 (S1). Clearance here is required to open the way towards to our initial support at 1.6268 (S2) and any further price regress would then be limited to final support at 1.6246 (S3).
Resistance Levels: 1.6314, 1.6333, 1.6353
Support Levels: 1.6290, 1.6268, 1.6246
----------------------
USDJPY :
HIGH 103.291 LOW 102.643 BID 102.821 ASK 102.827 CHANGE 0% TIME 08 : 40:51
https://support.fxcc.com/email/technical/16122013/USDJPY.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: Further uptrend evolvement is limited now to the local high at 102.92 (R1). Break here is required to enable higher targets at 103.08 (R2) and 103.28 (R3). Downwards scenario: Price regress below the support level at 102.65 (S1) would increase likelihood of failing towards to our key supportive barrier at 102.51 (S2) and any further market decline would then be targeting final support for today at 102.35 (S3).
Resistance Levels: 102.92, 103.08, 103.28
Support Levels: 102.65, 102.51, 102.35
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Dec 18 2013
All eyes on the last FOMC meeting of 2013, expect taper speculation to reach fever pitch
Wednesday sees the publication of the German IFO business climate index, expected in at 109.7. The UK publishes its latest claimant count figures, predicted to be down 35.2 K month on month. The expected percentage unemployment claimant count is expected in at 7.6%. The UK's BoE MPC reveals the votes on interest rate setting and quantitative easing both expected in as unanimous votes. ECONFIN meetings continue through the week, whilst the Swiss ZEW sentiment index is published. In the afternoon session attention turns to the USA data, housing starts data is predicted in at 0.91 million year on year, whilst crude oil inventories might have the capacity to shock again with the previous week's figure coming in -10.6 m barrels. Then attention turns to the FOMC and the expected news regarding the potential taper, the Fed's base rate decision will be announced expected to remain at 0.25%, thereafter the FOMC will deliver an explanatory statement and deliver their economic projections. The DJIA closed down marginally by 0.06% at 15875 on Tuesday, SPX down 0.31%, NASDAQ by 0.14%. European indices suffered a sharp selloff over the two trading sessions on Tuesday; STOXX 50 down 1.24%, CAC down 1.24%, DAX down 0.86%, FTSE down 0.55%. The DJIA equity index future is down 0.08% at the time of writing (10:00pm UK time), the SPX future is down 0.42%, NASDAQ down 0.27%. STOXX future is down 0.97%, DAX future down 0.62%, CAC future down 1.00%, FTSE future down 0.33%. NYMEX WTI oil is down 0.38% on the day at $97.11 per barrel, NYMEX nat gas is up 0.02%, COMEX gold sold off sharply by 1.15% at $1230.10 per ounce, silver on COMEX is down 1.02% at $19.90 per ounce. The dollar slipped 0.3 percent to 102.67 yen mid-afternoon New York time Tuesday, after touching 103.92 yen on Dec. 13th, the strongest level since October 2008. It was little changed at $1.3768 per euro. The 17-nation common currency fell 0.3 percent to 141.36 yen. The dollar traded at almost a five-year high versus the yen as the Federal Reserve begins a two-day meeting that may will result in a reduction of currency-debasing stimulus. The Aussie fell 0.4 percent to NZ$1.0773 after earlier touching the weakest since October 2008. It was 0.5 percent weaker at 88.98 U.S. cents. The Aussie dollar fell to a five-year low versus New Zealand’s currency as the Reserve Bank of Australia said in minutes of its most recent meeting that it maintained the option to cut interest rates. The pound fell for a fifth day versus the dollar on Tuesday after a government report showed U.K. consumer-price inflation unexpectedly slowed in November to the lowest level in four years. Sterling declined 0.2 percent to $1.6267.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-12-18 09:30 GMT | UK. Claimant Count Change (Oct)
2013-12-18 09:30 GMT | UK. ILO Unemployment Rate (3M) (Oct)
2013-12-18 19:00 GMT | US. Fed Interest Rate Decision
2013-12-18 19:30 GMT | US. Fed's Monetary Policy Statement and press conference
FOREX NEWS :
2013-12-18 04:25 GMT | USD/JPY hits 103.00 on high-volume Nikkei 225 rally
2013-12-18 02:31 GMT | GBP/USD on the rise ahead of the Fed; 1.6317 is ST “correction resistance”
2013-12-18 01:40 GMT | AUD/USD: Rally finds resistance at 0.8930
2013-12-18 01:06 GMT | EUR/JPY surges from weekly lows
------------------
EURUSD :
HIGH 1.37748 LOW 1.37627 BID 1.37709 ASK 1.37714 CHANGE 0% TIME 08 : 36:08
https://support.fxcc.com/email/technical/18122013/EURUSD.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Market having failed to establish directional movement yesterday. Possible price strengthening might arise above the next resistance level at 1.3792 (R1). Our interim target holds at 1.3814 (R2) en route toward to our major aim at 1.3832 (R3). Downwards scenario: On the other hand, price pattern suggests bearish potential if the instrument manages to overcome next support level at 1.3746 (S1). Possible price regress could expose our initial targets at 1.3729 (S2) and 1.3709 (S3) in potential.
Resistance Levels: 1.3792, 1.3814, 1.3832
Support Levels: 1.3746, 1.3729, 1.3709
----------------
GBPUSD :
HIGH 1.62888 LOW 1.6262 BID 1.62839 ASK 1.62846 CHANGE 0% TIME 08 : 36:08
https://support.fxcc.com/email/technical/18122013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Medium-term negative bias pressure the price lower however instrument might find buyers above the resistance level at 1.6309 (R1). Break here might open route towards to our initial targets at 1.6333 (R2) and 1.6353 (R3). Downwards scenario: Risk of market weakening is seen below the support level at 1.6260 (S1). Loss here is required to allow further declines and expose our supportive barrier at 1.6244 (S2) en route towards to final target for today at 1.6228 (S3).
Resistance Levels: 1.6309, 1.6333, 1.6353
Support Levels: 1.6260, 1.6244, 1.6228
------------------
USDJPY :
HIGH 103.034 LOW 102.564 BID 102.954 ASK 102.958 CHANGE 0.01% TIME 08 : 36:08
https://support.fxcc.com/email/technical/18122013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: A violation of next resistance at 103.11 (R1) might call for a run towards to next target at 103.28 (R2) and any further appreciation would then be limited to final target at 103.42 (R3). Downwards scenario: Neutral market structure might lose its power if the price manages to overcome next support level at 102.64 (S1). Any penetration below this level might determine medium-term negative bias and expose our intraday targets at 102.46 (S2) and 102.24 (S3).
Resistance Levels: 103.11, 103.28, 103.42
Support Levels: 102.64, 102.46, 102.24
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Dec 19 2013
After the USA FOMC taper tantrum focus now shifts back to key fundamentals such as the USA claimant count
Thursday we receive data on Europe's balance of payments which is predicted to print at €14.2 billion positive. Retail sales in the UK are predicted to come in at 0.3% up on the month. USA unemployment claims are predicted in at 336K, down from 368K, existing home sales are predicted in at 5.04 million annual rate, a slight seasonal fall from the previous month. The Philly Fed manufacturing index is predicted to come in at 10.3, significantly up from 6.5 the previous month. Natural gas storage data is printed for the USA. Last week was down -81bn. Late evening Japan publishes its monetary policy statement and the Bank of Japan holds a press conference. The U.S. Dollar Index, which monitors the greenback versus its 10 major counterparts, gained 0.5 percent to 1.021.53 late in New York Wednesday. The greenback added 1.4 percent to 104.12 yen, the highest level since Oct. 6, 2008. The U.S. currency advanced 0.6 percent to $1.3685 versus Europe’s 17-nation euro. The dollar rose to a five-year high versus the yen after the Federal Reserve officials voted to reduce monthly asset purchases that are seen as debasing the U.S. currency amidst signs that economic growth is strengthening. The DJIA closed up 1.84% on Wednesday, a new record high at 16167, the SPX closed up 1.66% and the NASDAQ up 1.15%. In Europe STOXX closed up 1.13%, CAC up 1.00%, DAX up 1.06% and the FTSE up 0.09%. Looking towards Thursday the equity index future for the DJIA is up 1.89%, SPX up 1.79%, NASDAQ future up 1.38%. Euro STOXX equity index future is up 0.88%, DAX up 0.88%, CAC up 0.97%, FTSE up 0.02%. NYMEX WTI oil closed the day up 0.60% at $97.80 per barrel, NASDAQ nat gas down 0.30% at $4.27 per therm, COMEX gold up 0.40% at $1235.00 per ounce with silver on COMEX down 0.66% at $19.71 per ounce.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-12-19 09:30 GMT | UK. Retail Sales (YoY) (Nov)
2013-12-19 13:30 GMT | US. Initial Jobless Claims (Dec 13)
2013-12-19 14:00 GMT | Switzerland. SNB Quarterly Bulletin (Q3)
2013-12-19 15:00 GMT | US. Existing Home Sales Change (MoM) (Nov)
FOREX NEWS :
2013-12-19 05:34 GMT | GBP/AUD remains at multi-year highs just above 1.8500; next long-term target is 1.9670
2013-12-19 05:17 GMT | EUR/USD extends bearish bias, 1.3615 support eyed
2013-12-19 04:47 GMT | EUR/JPY pulling back early Thursday after big up day Wednesday; next upside target 145.76
2013-12-19 03:11 GMT | GBP/USD may have completed 5th wave higher Wednesday at 1.6483; 1st pullback target 1.6089
EURUSD :
HIGH 1.36939 LOW 1.36493 BID 1.36744 ASK 1.36747 CHANGE 0.01% TIME 08 : 37:24
https://support.fxcc.com/email/technical/19122013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EUR extended its decline versus the USD and determined negative short-term technical outlook. However above the resistance at 1.3697 (R1) opens a route towards to next resistive measures at 1.3715 (R2) and 1.3731 (R3). Downwards scenario: Next support level is seen at 1.3656 (S1), any penetration below it might activate downside pressure and enable lower target at 1.3634 (S2). Any further market decline would then be limited to 1.3615 (S3).
Resistance Levels: 1.3697, 1.3715, 1.3731
Support Levels: 1.3656, 1.3634, 1.3615
-----------------
GBPUSD :
HIGH 1.63972 LOW 1.63656 BID 1.63763 ASK 1.63768 CHANGE 0% TIME 08 : 37:24
https://support.fxcc.com/email/technical/19122013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: The possibility of an upside price progress is seen above the resistance level at 1.6391 (R1). Evaluation above this mark might initiate bullish pressure and expose medium-term interim targets at 1.6408 (R2) and 1.6424 (R3). Downwards scenario: On the short-term perspective the pair might encounter supportive measures at 1.6353 (S1). Loss here might change intraday technical structure and opens the way for a test of 1.6337 (S2) and 1.6324 (S3) later on today.
Resistance Levels: 1.6391, 1.6408, 1.6424
Support Levels: 1.6353, 1.6337, 1.6324
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USDJPY :
HIGH 104.363 LOW 103.782 BID 104.006 ASK 104.009 CHANGE 0.01% TIME 08 : 37:24
https://support.fxcc.com/email/technical/19122013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Upside risk aversion is seen above the next resistance level at 104.36 (R1). Appreciation above it might lead to the positive intraday bias formation towards to our next targets at 104.60 (R2) and 104.83 (R3). Downwards scenario: On a slightly longer term we expect pullback formation. Risk of market depreciation is seen below the next support level at 103.83 (S1). Clearance here would suggest lower targets at 103.54 (S2) and 103.24 (S3) in potential.
Resistance Levels: 104.36, 104.60, 104.83
Support Levels: 103.83, 103.54, 103.24
Source: FX Central Clearing Ltd,( ECN Forex Broker | ECN Forex Trading Platform | Foreign Currency Exchange | Best Currency Online Trading | FXCC (http://www.fxcc.com) )
Forex Technical & Market Analysis FXCC Dec 20 2013
USA final GDP data for 2013 published expectation at 3.6% annually, as UK current account data is expected to worsen
Friday sees the publication of German PPI for the month, predicted to come in flat with the German GfK business climate expected in at 7.4. The UK's current account data is expected to worsen at -13.8 bn, with public sector borrowing predicted to remain steady at £6.6 bn and final GDP expected in at 0.8%. Core data for Canada includes CPI predicted to come in at 0.1% with retail sales expected to be flat and CPI expected in up 0.2%. The USA final GDP data is predicted to show growth of 3.6% annually. Europe's consumer confidence is predicted to come on at -15 whilst the last high impact news event of the week sees the nomination vote for Fed chairman. The DJIA closed up marginally by 0.07% on Thursday, the SPX closed down 0.06% and NASDAQ down 0.29%. European markets played catch up with the bullish momentum move post the Fed's taper decision on Wednesday; STOXX closed up 1.88%, CAC up 1.64%, DAX up 1.68%, FTSE up 1.43%. Looking towards Friday's open; the DJIA equity index future is up 0.02%, SPX future down 0.17%, NASDAQ future down 0.45%. Euro STOXX equity index future is up 1.78%, DAX future up 1.56%, CAC future up 1.66%, FTSE up 1.52%. NYMEX WTI oil rose 0.99% to $98.77 per barrel on Thursday, NYMEX nat gas rose a significant 4.52% to $4.44 per therm due to storage capacity concerns. COMEX gold experienced a significant sell off, down 3.69% on the day to $1189.40 per ounce. COMEX silver closed down on the day 4.11% at $19.24 per ounce. The dollar rose 0.2 percent to $1.3655 per euro mid-afternoon Thursday New York time after advancing to $1.3650, the strongest level since Dec. 6th. The U.S. currency dropped 0.1 percent to 104.21 yen. The yen gained 0.3 percent to 142.29 per euro after sliding to 142.90 yesterday, the weakest level since October 2008. The dollar climbed to the strongest level in almost two weeks against the euro as investors assess Federal Reserve plans to wind down bond-buying next year amid signs that economic growth is gaining momentum. The U.S. currency advanced versus most of its 16 major counterparts after the Federal Open Market Committee said yesterday it would slow monetary stimulus to $75 billion a month from $85 billion.
http://blog.fxcc.com/market-analysis
FOREX ECONOMIC CALENDAR :
2013-12-20 09:30 GMT | UK. Gross Domestic Product (YoY) (Q3)
2013-12-20 13:30 GMT | Canada. Bank of Canada Consumer Price Index Core (YoY) (Nov)
2013-12-20 13:30 GMT | US. Gross Domestic Product Annualized (Q3)
2013-12-20 n/a | US. Fed Chairman Nomination Vote
FOREX NEWS :
2013-12-20 06:16 GMT | EUR/USD extends decline to 2 week low
2013-12-20 05:45 GMT | EUR/GBP continues to slide Friday ahead of data; 0.8299 is next support
2013-12-20 04:11 GMT | USD/JPY holds at 5-year highs after BoJ
2013-12-20 03:46 GMT | AUD/NZD back on the downside after Thursday bounce; downtrend intact with target of 1.0560
EURUSD :
HIGH 1.3667 LOW 1.36253 BID 1.36362 ASK 1.36365 CHANGE 0% TIME 08 : 43:59
https://support.fxcc.com/email/technical/20122013/EURUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EUR/USD maintained a negative near-term tone though recovery action is possible above the next visible resistance at 1.3663 (R1). Clearance here might initiate bullish pressure and validate our next targets at 1.3678 (R2) and 1.3691 (R3). Downwards scenario: Yesterday session low offers key supportive barrier at 1.3631 (S1). Break here might provide sufficient momentum on the downside and expose our intraday targets at 1.3615 (S2) and 1.3600 (S3).
Resistance Levels: 1.3663, 1.3678, 1.3691
Support Levels: 1.3631, 1.3615, 1.3600
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GBPUSD :
HIGH 1.63722 LOW 1.63502 BID 1.63527 ASK 1.63529 CHANGE 0.01% TIME 08 : 43:59
https://support.fxcc.com/email/technical/20122013/GBPUSD.png
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Possible upwards formation is limited now to resistive measure at 1.6391 (R1). A break above it would suggest next intraday target at 1.6408 (R2) and if the price holds its momentum we can expect price increase towards to final resistance at 1.6424 (R3). Downwards scenario: Next support level is seen at 1.6351 (S1), any penetration below it might activate downside pressure and enable lower target at 1.6337 (S2). Any further market decline would then be limited to 1.6324 (S3).
Resistance Levels: 1.6391, 1.6408, 1.6424
Support Levels: 1.6351, 1.6337, 1.6324
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USDJPY :
HIGH 104.591 LOW 104.213 BID 104.44 ASK 104.442 CHANGE 0% TIME 08 : 43:59
https://support.fxcc.com/email/technical/20122013/USDJPY.png
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Market sentiment has improved for the bullish oriented traders. Fresh high formed today offers key resistance level at 104.60 (R1). In case of price appreciation above it our focus would be shifted to the higher targets at 104.83 (R2) and 105.05 (R3). Downwards scenario: Medium-term bias is clearly positive however possible progress below the initial support level at 104.09 (S1) might expose our intraday targets at 103.83 (S2) and then 103.54 (S3) in perspective.
Resistance Levels: 104.60, 104.83, 105.05
Support Levels: 104.09, 103.83, 103.54
Source: FX Central Clearing Ltd,( http://www.fxcc.com (http://www.fxcc.com) )
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