Forex Technical & Market Analysis
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. [url]https://support.fxcc.com/email/technical/06032013/[/url] 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 ---------------------- EURUSD : HIGH 1.30704 LOW 1.30421 BID 1.30683 ASK 1.30688 CHANGE 0.14% TIME 08:06:51  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 ---------------------- GBPUSD : HIGH 1.51543 LOW 1.51236 BID 1.51441 ASK 1.51451 CHANGE 0.12% TIME 08:06:52  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  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,( [url=http://www.fxcc.com] Forex Account | Best ECN Forex Brokers | Forex Trading Systems | FXCC [/url] ) |
Forex Technical & Market Analysis FXCC Mar 07 2013
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. [url]https://support.fxcc.com/email/technical/07032013/[/url] 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 ---------------------- EURUSD : HIGH 1.29963 LOW 1.29686 BID 1.29911 ASK 1.29916 CHANGE 0.2% TIME 07 : 57:45  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 ------------------------- GBPUSD : HIGH 1.50175 LOW 1.49669 BID 1.50019 ASK 1.50031 CHANGE -0.1% TIME 07 : 57:46  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 ------------------------ USDJPY : HIGH 94.115 LOW 93.792 BID 93.926 ASK 93.932 CHANGE -0.15% TIME 07 : 57:47  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,( [url=http://www.fxcc.com] Forex Trading News | ECN Trading Account | Forex ECN Broker | FXCC [/url] ) |
Forex Technical & Market Analysis FXCC Mar 08 2013
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 [url]https://support.fxcc.com/email/technical/08032013/[/url] 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 ------------------------- EURUSD : HIGH 1.31152 LOW 1.3087 BID 1.30958 ASK 1.30964 CHANGE -0.09% TIME 08 : 30:33  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 ------------------------ GBPUSD : HIGH 1.50263 LOW 1.49816 BID 1.49944 ASK 1.49951 CHANGE -0.12% TIME 08:30:35  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 ------------------------- USDJPY : HIGH 95.445 LOW 94.781 BID 95.287 ASK 95.291 CHANGE 0.49% TIME 08 : 30:36  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, ([url]http://www.fxcc.com[/url]) |
Forex Technical & Market Analysis FXCC Mar 11 2013
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. [url]https://support.fxcc.com/email/technical/11032013/[/url] 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  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 ----------------------- GBPUSD : HIGH 1.49273 LOW 1.49009 BID 1.49263 ASK 1.49274 CHANGE 0.07% TIME 08:04:55  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 ---------------------- USDJPY : HIGH 96.256 LOW 95.94 BID 96.125 ASK 96.131 CHANGE 0.12% TIME 08:04:56  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,( [url=http://www.fxcc.com] Currency Converter | Forex School | ECN Forex Trading Accounts | FXCC [/url] ) |
Forex Technical & Market Analysis FXCC Mar 12 2013
Forex Technical & Market Analysis FXCC Mar 12 2013
Troika inclined towards extending Portugal’s rescue loan maturity Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Vestibulum tortor quam, feugiat vitae, ultricies eget, tempor sit amet, ante. Donec eu libero sit amet quam egestas semper. Aenean ultricies mi vitae est. Mauris placerat eleifend leo. Quisque sit amet est et sapien ullamcorper pharetra. Vestibulum erat wisi, condimentum sed, commodo vitae, ornare sit amet, wisi. Aenean fermentum, elit eget tincidunt condimentum, eros ipsum rutrum orci, sagittis tempus lacus enim ac dui. Donec non enim in turpis pulvinar facilisis. Ut felis. Praesent dapibus, neque id cursus faucibus, 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? [url]https://support.fxcc.com/email/technical/12032013/[/url] 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  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  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 ------------------------ USDJPY : HIGH 96.708 LOW 96.268 BID 96.442 ASK 96.445 CHANGE 0.17% TIME 08 : 10:40  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,( [url=http://www.fxcc.com] ECN Broker Account | Best Forex Trading Platform | Forex Blog | FXCC [/url] ) |
Forex Technical & Market Analysis FXCC Mar 13 2013
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. [url]https://support.fxcc.com/email/technical/13032013/[/url] 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 -------------------------- EURUSD : HIGH 1.30438 LOW 1.30227 BID 1.30390 ASK 1.30398 CHANGE 0.05% TIME 07 : 58:37  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  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  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,( [url=http://www.fxcc.com] FX Central Clearing Ltd [/url] ) |
Forex Technical & Market Analysis FXCC Mar 14 2013
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. [url]https://support.fxcc.com/email/technical/14032013/[/url] 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  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  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  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,( [url=http://www.fxcc.com] Best Forex Trading Software | Forex Currency Trading blog | FXCC [/url] ) |
Forex Technical & Market Analysis FXCC Mar 15 2013
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." [url]https://support.fxcc.com/email/technical/15032013/[/url] 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  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  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  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,( [url=http://www.fxcc.com] Currency Trading Blog | Forex Account | ECN Forex Software | FXCC [/url] ) |
Forex Technical & Market Analysis FXCC Mar 18 2013
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. [url]https://support.fxcc.com/email/technical/18032013/[/url] 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 ------------------------- EURUSD : HIGH 1.29315 LOW 1.28818 BID 1.29038 ASK 1.29043 CHANGE -1.3% TIME 08 : 57:38  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  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  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,( [url=http://www.fxcc.com] http://www.fxcc.com [/url] ) |
Forex Technical & Market Analysis FXCC Mar 19 2013
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. [url]https://support.fxcc.com/email/technical/19032013/[/url] 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 --------------------- EURUSD : HIGH 1.29694 LOW 1.29339 BID 1.29358 ASK 1.29367 CHANGE -0.16% TIME 08 : 02:47  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  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  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,( [url=http://www.fxcc.com] Best Forex Trading Platforms | Forex Practice Account | FXCC [/url] ) |
Forex Technical & Market Analysis FXCC Mar 20 2013
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.” [url]https://support.fxcc.com/email/technical/20032013/[/url] 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  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  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  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,( [url=http://www.fxcc.com] ECN Forex Trading Accounts | ECN Broker List | Currency Converter | FXCC [/url] ) |
Forex Technical & Market Analysis FXCC Mar 21 2013
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. [url]https://support.fxcc.com/email/technical/11032013/[/url] 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 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 --------------------------- GBPUSD : HIGH 1.49273 LOW 1.49009 BID 1.49263 ASK 1.49274 CHANGE 0.07% TIME 08 : 04:55 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 --------------------- USDJPY : HIGH 96.256 LOW 95.94 BID 96.125 ASK 96.131 CHANGE 0.12% TIME 08 : 04:56 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,( [url=http://www.fxcc.com] FX Central Clearing Ltd [/url] ) |
Forex Technical & Market Analysis FXCC Mar 22 2013
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. [url]https://support.fxcc.com/email/technical/22032013/[/url] 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  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  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  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,( [url=http://www.fxcc.com] Currency Converter | Top ECN Forex Broker | Forex Software | FXCC [/url] ) |
Forex Technical & Market Analysis FXCC Mar 25 2013
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  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  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  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,( [url=http://www.fxcc.com] Forex Software | Free Forex Demo Account | Best Forex Broker | FXCC [/url] ) |
Forex Technical & Market Analysis FXCC Mar 26 2013
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. [url]http://blog.fxcc.com/forex-technical-market-analysis-march-26-2013/[/url] 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  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 ---------------------------------------- Forex Technical Analysis GBPUSD  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 -------------------------------------- Forex Technical Analysis USDJPY  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,( [url=http://www.fxcc.com] http://www.fxcc.com [/url] ) |
Forex Technical & Market Analysis FXCC Mar 27 2013
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. [url]http://blog.fxcc.com/forex-technical-market-analysis-march-27-2013/[/url] 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  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  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  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,( [url=http://www.fxcc.com] Currency Converter | ECN Broker | Forex Trading Account | FXCC [/url] ) |
Forex Technical & Market Analysis FXCC Mar 28 2013
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 [url]http://blog.fxcc.com/forex-technical-market-analysis-march-28-2013/[/url] 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  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  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  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,( [url=http://www.fxcc.com] Best Forex Trading Platform | ECN Broker Account | FXCC [/url] ) |
Forex Technical & Market Analysis FXCC Mar 29 2013
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. [url]https://support.fxcc.com/email/technical/29032013/[/url] 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 ---------------------- EURUSD : HIGH 1.28367 LOW 1.27934 BID 1.28082 ASK 1.28086 CHANGE -0.07% TIME 09 : 14:14  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 -------------------- GBPUSD : HIGH 1.52187 LOW 1.5177 BID 1.51814 ASK 1.51827 CHANGE -0.06% TIME 09 : 14:15  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 ----------------------- USDJPY : HIGH 94.299 LOW 93.973 BID 94.046 ASK 94.061 CHANGE -0.1% TIME 09 : 14:16  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,( [url=http://www.fxcc.com] FX Central Clearing Ltd [/url] ) |
Forex Technical & Market Analysis FXCC Apr 01 2013
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. - [url]https://support.fxcc.com/email/technical/01042013/[/url] 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 --------------------- EURUSD : HIGH 1.28129 LOW 1.2771 BID 1.27834 ASK 1.27842 CHANGE -0.25% TIME 08 : 02:10  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 ------------------------- GBPUSD : HIGH 1.52018 LOW 1.51777 BID 1.51892 ASK 1.51904 CHANGE -0.07% TIME 08 : 02:10  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 -------------------------- USDJPY : HIGH 94.373 LOW 93.832 BID 93.943 ASK 93.950 CHANGE -0.28% TIME 08 : 02:11  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,( [url=http://www.fxcc.com] ECN Forex Trading Accounts | Currency Converter | Forex School | FXCC [/url] ) |
Forex Technical & Market Analysis FXCC Apr 02 2013
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. [url]https://support.fxcc.com/email/technical/02042013/[/url] 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  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 ------------------------- GBPUSD : HIGH 1.52584 LOW 1.52183 BID 1.52374 ASK 1.52384 CHANGE 0.04% TIME 08 : 01:02  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 ------------------------- USDJPY : HIGH 93.322 LOW 92.565 BID 92.840 ASK 92.845 CHANGE -0.42% TIME 08 : 01:03  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,( [url=http://www.fxcc.com] Best ECN Trading Account | Forex Trading Education | FXCC [/url] ) |
Forex Technical & Market Analysis FXCC Apr 03 2013
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. [url]http://blog.fxcc.com/forex-technical-market-analysis-april-03-2013/[/url] 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  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  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  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,( [url=http://www.fxcc.com] http://www.fxcc.com [/url] ) |
Forex Technical & Market Analysis FXCC Apr 04 2013
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. [url]http://blog.fxcc.com/forex-technical-market-analysis-april-04-2013/[/url] 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 --------------------- Forex Technical Analysis EURUSD  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 ---------------- Forex Technical Analysis GBPUSD  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 ------------- Forex Technical Analysis USDJPY  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,( [url=http://www.fxcc.com] Forex School | Currency Converter | Best Forex Trading Software | FXCC [/url] ) |
Forex Technical & Market Analysis FXCC Apr 05 2013
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 [url]https://support.fxcc.com/email/technical/05042013/[/url] 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 ---------------------- EURUSD : HIGH 1.29379 LOW 1.29186 BID 1.29188 ASK 1.29196 CHANGE -0.12% TIME 08 : 49:51  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 ------------------------ GBPUSD : HIGH 1.52428 LOW 1.5214 BID 1.52279 ASK 1.52290 CHANGE -0.03% TIME 08 : 49:52  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 --------------------- USDJPY : HIGH 97.195 LOW 96.134 BID 96.314 ASK 96.321 CHANGE -0.01% TIME 08 : 49:52  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,( [url=http://www.fxcc.com] Forex School | Currency Converter | Best Forex Trading Software | FXCC [/url] ) |
Forex Technical & Market Analysis FXCC Apr 08 2013
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." [url]http://blog.fxcc.com/forex-technical-market-analysis-april-08-2013/[/url] 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 --------------------- Forex Technical Analysis EURUSD :  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 :  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 ------------------ Forex Technical Analysis USDJPY :  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,( [url=http://www.fxcc.com] Forex Blog | Currency Converter | Forex Trading Platform | FXCC [/url] ) |
Forex Technical & Market Analysis FXCC Apr 09 2013
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. [url]https://support.fxcc.com/email/technical/09042013/[/url] 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  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  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  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,( [url=http://www.fxcc.com] FX Central Clearing Ltd [/url] ) |
Forex Technical & Market Analysis FXCC Apr 10 2013
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. [url]https://support.fxcc.com/email/technical/10042013/[/url] 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 -------------------------------- EURUSD : HIGH 1.30907 LOW 1.30731 BID 1.30754 ASK 1.30763 CHANGE -0.05% TIME 08:35:48  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  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  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,( [url=http://www.fxcc.com] Currency Trading Blog | Forex Account | Auto Forex Trading Account | FXCC [/url] ) |
Forex Technical & Market Analysis FXCC Apr 15 2013
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. [url]http://blog.fxcc.com/13536/[/url] 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  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 -------------------------------------------------------------- Forex Technical Analysis GBPUSD  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 -------------------------------------------------------------- Forex Technical Analysis USDJPY  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,( [url=http://www.fxcc.com] http://www.fxcc.com [/url] ) |
Forex Technical & Market Analysis FXCC Apr 16 2013
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. [url]https://support.fxcc.com/email/technical/16042013/[/url] 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 --------------------- EURUSD : HIGH 1.30815 LOW 1.30305 BID 1.30747 ASK 1.30753 CHANGE 0.3% TIME 08 : 33:21  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  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  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,( [url=http://www.fxcc.com] Forex Traders Blog | Forex Trading Systems | Forex Account | FXCC [/url] ) |
Forex Technical & Market Analysis FXCC Apr 17 2013
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. [url]https://support.fxcc.com/email/technical/17042013/[/url] 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  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  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  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,( [url=http://www.fxcc.com] Forex ECN Broker | Free Forex Demo Accounts | FXCC [/url] ) |
Forex Technical & Market Analysis FXCC Apr 18 2013
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. [url]https://support.fxcc.com/email/technical/18042013/[/url] 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  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  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  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,( [url=http://www.fxcc.com] FX Central Clearing Ltd [/url] ) |
Forex Technical & Market Analysis FXCC Apr 22 2013
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." [url]http://blog.fxcc.com/forex-technical-market-analysis-april-22-2013/[/url] 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 ----------------------------------------------------------------- Forex Technical Analysis EURUSD :  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 -------------------------------------------------------------- Forex Technical Analysis GBPUSD :  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 ------------------------------------------------------------ Forex Technical Analysis USDJPY :  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,( [url=http://www.fxcc.com] Forex Trading System | Forex Trading Software | Best ECN Broker | FXCC [/url] ) |
Forex Technical & Market Analysis FXCC Apr 24 2013
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. [url]https://support.fxcc.com/email/technical/24042013/[/url] 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 ---------------------------- EURUSD : HIGH 1.30104 LOW 1.29882 BID 1.30053 ASK 1.30059 CHANGE 0.03% TIME 08 : 44:38  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  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  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,( [url=http://www.fxcc.com] ECN Exchange Market FX Brokers | Forex Blog | Currency Converter | FXCC [/url] ) |
Forex Technical & Market Analysis FXCC Apr 25 2013
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. [url]http://blog.fxcc.com/forex-technical-market-analysis-april-25-2013/[/url] 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 -------------------------------------------------------- Forex Technical Analysis EURUSD  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 ------------------------------------------------------------ Forex Technical Analysis GBPUSD  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 ------------------------------------------------------------ Forex Technical Analysis USDJPY  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,( [url=http://www.fxcc.com] http://www.fxcc.com [/url] ) |
Forex Technical & Market Analysis FXCC Apr 29 2013
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. [url]http://blog.fxcc.com/forex-technical-market-analysis-april-29-2013/[/url] 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 ----------- Forex Technical Analysis EURUSD :  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 -------------- Forex Technical Analysis GBPUSD :  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 :  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,( [url=http://www.fxcc.com] Best ECN Forex Brokers | Forex ECN Broker Software | FXCC [/url] ) |
Forex Technical & Market Analysis FXCC May 02 2013
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. - [url]https://support.fxcc.com/email/technical/02052013/[/url] 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  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  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  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,( [url=http://www.fxcc.com] Forex ECN Broker | Forex Trading Blog | Forex Software | FXCC [/url] ) |
Forex Technical & Market Analysis FXCC May 03 2013
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. [url]https://support.fxcc.com/email/technical/03052013/[/url] 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 ------------------------------ EURUSD : HIGH 1.30775 LOW 1.30555 BID 1.30710 ASK 1.30715 CHANGE 0.05% TIME 08 : 19:12  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 ------------------------ GBPUSD : HIGH 1.55408 LOW 1.552 BID 1.55240 ASK 1.55248 CHANGE -0.06% TIME 08 : 19:13  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  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,( [url=http://www.fxcc.com] http://www.fxcc.com [/url] ) |
Forex Technical & Market Analysis FXCC May 06 2013
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.” [url]http://blog.fxcc.com/forex-technical-market-analysis-may-06-2013/[/url] 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 :  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 :  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 :  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,( [url=http://www.fxcc.com] Learn Forex Training | ECN Forex Account | forex trader blog | FXCC [/url] ) |
Forex Technical & Market Analysis FXCC May 07 2013
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.” [url]https://support.fxcc.com/email/technical/06052013/[/url] 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  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  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  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,( [url=http://www.fxcc.com] Best Forex Trader | Forex Broker Demo Account | Forex Software | FXCC [/url] ) |
Forex Technical & Market Analysis FXCC May 08 2013
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. [url]https://support.fxcc.com/email/technical/08052013/[/url] 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  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 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  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,( [url=http://www.fxcc.com] FX Central Clearing Ltd [/url] ) |
Forex Technical & Market Analysis FXCC May 09 2013
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. [url]http://blog.fxcc.com/forex-technical-market-analysis-may-09-2013/[/url] 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  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 :  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 :  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,( [url=http://www.fxcc.com] Forex Trading Blog | Learn Forex Training | Best Forex Accounts | FXCC [/url] ) |
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