Update - Daily Technical Levels from FXCC - page 27
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Market Overview by FXCC July 26 2012
Market Overview by FXCC July 26 2012
Markets take a breather.
Stock markets were in a somewhat more encouraging mood yesterday during day. Currency markets were dumping the USD in favor of a broad basket of other currency crosses including the euro, A$ and CAD among others. Equity markets are feeling the love with all European benchmarks enjoying a positive lift albeit across a wide range from the FTSE100’s small gain to a 2% rise in Spain. US markets ended fairly flat after housing data disappointed. The bond safe havens are getting marginally dumped with yields on US, Canadian and German 10s rising while yields on Spanish and Italian 10s are moving slightly away from the abyss. Commodity markets are also enjoying a lift with most major categories gently bid.
One possible rationale for a more positive risk-on market bias this morning can be traced to comments by ECB council member Ewald Nowotny. Nowotny remarked that there are “pro arguments” to be made for granting the European Stability Mechanism (ESM) a banking license which is significant because theoretically it would give it access to the ECB window and thus be a back door approach to further policy easing beyond the ESM’s current funding limitations. I would think Germany and the Bundesbank roots to the ECB would remain steadfastly opposed to this policy option given long run inflation considerations but also given the danger that it could well hand the keys to monetary policy over to a much more politicized institution that could derail the ECB’s policy credibility over the long run.
Read More
https://support.fxcc.com/email/technical/26072012/
UPCOMING EVENTS :
2012-07-26 08:00 GMT | EMU - M3 Money Supply) (Jun)
2012-07-26 09:30 GMT | EMU - ECB President Draghi's Speech
2012-07-26 12:30 GMT | US - Durable Goods Orders (Jun)
2012-07-26 14:00 GMT | US - Pending Home Sales (Jun)
FOREX NEWS :
2012-07-26 04:39 GMT | EUR/USD below 1.2165, all eyes on Draghi
2012-07-26 04:24 GMT | GBP/USD limited below 1.55 ahead of Europe
2012-07-26 03:32 GMT | BoC first rate hike not expected till 2013Q3 - Rabobank
2012-07-26 03:20 GMT | UK GDP Q2 bad enough for BoE to consider 25bp cut - UBS
--------------
EURUSD : 1.21452 / 1.21457
DAILY WEEKLY MONTHLY
1.2303 | 1.2236 | 1.2188
1.2073 | 1.2006 | 1.1958
SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
Technicals are bearish, but risk reward is poor. A close above 1.2163 would be temporarily bullish. The dip didn’t quite make 12000 but today’s rally triggers an intraweek reversal and is enough for me turn bullish against the low 12040. There is no guarantee of course that a low is in place but there is enough evidence to act. RSI failed to break below 30 at the most recent low, which is often a sign that the trend has exhausted. 12110 is support. Supports are seen at the key 1.2110 level, followed by 1.2053 levels and resistance levels are seen at the 10-DMA line at 1.2204, 1.2230 and then at 1.2282.
--------------
GBPUSD : 1.54892 / 1.54896
DAILY WEEKLY MONTHLY
1.5629 | 1.5590 | 1.5537
1.5445 | 1.5406 | 1.5353
SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
Technicals remain bearish - MACD has turned to a bearish signal, joining other indicators; congestion at 1.5500-1.5400. The pair breached the key support level of 1.54799 and continued through the next target level of 1.54503. Supports are seen at 1.5414 and then at 1.5375 andresistance levels are seen at 1.5552 and then at 1.5596. Short term technical continue to read bearish but are moving towards oversold, where as longer term technicals remain bearish support the overall bearish bias.
----------------
USDJPY : 78.162 / 78.166
DAILY WEEKLY MONTHLY
78.760 | 78.425 | 78.235
78.030 | 77.825 | 77.575
SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
Technicals remain bearish and further downward movement is expected as technicals have not yet moved to oversold ( note Stochastic keeps edging into oversold territory ).The pair are range trading and at present are in the middle of the range. The downside is favored below 78.05 The pair has broken out of a descending channel and is expected to fall to targets in the region of 77.65 and then 77.30. It has reached the 61.8% Fibonacci and so there is a possibility of a recovery with the next target at the trend-line again at 78.40. A move lower, however, would have to breach the 78.05 level. Supports are seen at 78.08 and then at 77.94 and resistance levels are seen at 78.39 and then at 78.67.
Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)
Market Overview by FXCC July 27 2012
Market Overview by FXCC July 27 2012
ECB's Draghi's vow to save the monetary union sends markets climbing.
Concerns are also growing about global growth. The IMF said in a report today that China's slowing economy faces significant downside risks and relies too much on investment. While the economy “seems to be undergoing a soft landing”. US stocks advanced ahead of a report that may show demand for new homes rose in June and amid concern Spain may need a full bailout as Europe's debt crisis worsens. Broadcom Corp rose 2.6% after it forecast third- quarter sales that may beat analysts' estimates. And as European Central Bank President Mario Draghi said policy makers will do everything in their power to ensure a survival of the Euro.
Apple Inc. fell 4.7% in Germany after reporting profit and sales that missed analysts' projections. Netflix Inc. dropped 17% after it raised doubts about whether it can meet its user-growth targets this year. Japanese stocks fell, with the Topix Index posting its biggest four-day drop since August, as the Yen traded near an 11-year high against the euro amid concern Europe's debt crisis is worsening. The MSCI Asia Pacific Index dropped 1% today as Greece's creditors met to assess how far the debt-stricken nation has strayed from bailout terms Weakness in the euro became more evident throughout the day, as investors lost confidence in any results from the EU Summit and their grand plan, markets want action to help correct today's problems, not plans for the future, when their maybe no EU or euro.
Read More
https://support.fxcc.com/email/technical/27072012/
UPCOMING EVENTS :
2012-07-27 12:00 GMT | Germany - Consumer Price Index (Jul)
2012-07-27 12:30 GMT | US - Gross Domestic Product Annualized (Q2)
2012-07-27 12:30 GMT | US - Personal Consumption Expenditures Prices (Q2)
2012-07-27 13:55 GMT | US - Reuters/Michigan Consumer Sentiment Index (Jul)
FOREX NEWS :
2012-07-27 04:22 GMT | EUR/USD, hangover sub-1.2300
2012-07-27 02:47 GMT | GBP/JPY rally interrupted by 21 EMA
2012-07-27 02:07 GMT | Moving to period of EUR/USD weakness, rising global risk premia - Nomura
2012-07-27 01:40 GMT | US Q2 GDP weakness should be confirmed - Standard Chartered
----------
EURUSD : 1.22932 / 1.22935
DAILY WEEKLY MONTHLY
1.2577 | 1.2453 | 1.2366
1.2155 | 1.2031 | 1.1944
SUMMARY : Neutral
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
Technicals are bearish, but candlesticks suggest momentum is turning. The close at 1.2288 opens up a test to 1.2455; however the risk reward remains poor. The anticipated reversal has materialized in the EURUSD and we can now focus on how far the rally is likely to extend, the 1.23 level is an important psychological number. Supports are seen at 1.2200, 1.2118 and then at 1.2100 and, resistance levels are seen at 1.2334 and then at 1.2401. Yesterdays movements have indicators and oscillators behind, this is a good sit it out situation.
---------------
GBPUSD : 1.56847 / 1.56850
DAILY WEEKLY MONTHLY
1.6034 | 1.5879 | 1.5781
1.5528 | 1.5373 | 1.5275
SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Technicals are well mixed, between short term, near term and long term. Support is expected at the July 12th low at 1.5394, with resistance at the 200 day MA 1.5746. The outlook shows a downward movement towards the 1.5550 zone of support. A rise above 1.5700 may lead to a test of the 1.5730 resistance level. Supports are seen at 1.5600, 1.5500 and then at 1.5458 and resistance levels are seen at 1.5738 and then at the 200-DMA line at 1.5747.
-------------
USDJPY : 78.231 / 78.233
DAILY WEEKLY MONTHLY
79.170 | 78.785 | 78.445
78.105 | 77.770 | 77.315
SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
Technicals continue to read bearish and suggest further downward movement, despite consolidation in the past two sessions. Trading is in the narrow range of 78.243 and 78.054 at the time of writing. The pair is likely to fluctuate within the resistance level of 78.404 and the support level of 77.942. After the break of 79.00 the short-term bias is to the downside towards the 77.65 level. In the long term, however, we expect a bullish scenario: a test of the 83.00 resistance level. Supports are seen at 77.94/65 and then at 77.36 and resistance levels are seen at 78.28 and then at 78.54.
Source: FX Central Clearing Ltd, (Forex Rate | Forex News | ECN Forex Broker | FXCC)
Market Overview by FXCC July 30 2012
Market Overview by FXCC July 30 2012
Asian markets rise on hopes for Eurozone action
The week is starting higher, with the Asian markets on the “green” as the Fed, ECB and BoE prepare a new round of policy decisions and the respective announcement. Japan’s Nikkei Stock Average (+0.55%), South Korea’s Kospi (+0.79%), Australia’s S&P/ASX 200 (+0.95%), Hong Kong’s Hang Seng (+1.50%) edged higher, following the market mood triggered by news of action to be taken by the ECB/EFSF to tackle the debt crisis and pressure over Spain and Italy.
Futures for the German DAX 30 and French CAC 40 are signaling a lower open by -0.40% in a corrective movement from Friday’s rally. Spain and Italy will be selling debt during the European session, including Italian 10-year bonds. WTI crude oil trades at 90.33 (+0.25%) and Gold is quoting at 1618 (-0.30%).
Read More
https://support.fxcc.com/email/technical/30072012/
UPCOMING EVENTS :
2012-07-30 08:30 GMT | UK - Consumer Credit (Jun)
2012-07-30 09:00 GMT | EMU - Consumer Confidence (Jul)
2012-07-30 10:00 GMT | UK - CBI Distributive Trades Survey (Jul)
2012-07-30 14:30 GMT | US - Dallas Fed Manufacturing Business Index (Jul)
FOREX NEWS :
2012-07-30 06:35 GMT | GBP/USD in red ahead of UK data
2012-07-30 05:56 GMT | EUR/USD hovering over 1.2300
2012-07-30 04:20 GMT | EUR/JPY hovers around 95.50, below 21 EMA
2012-07-30 03:31 GMT | EUR/USD may attempt rally towards 1.25 this week - UBS
--------------
EURUSD : 1.22768 / 1.22771
DAILY WEEKLY MONTHLY
1.2522 | 1.2424 | 1.2332
1.2241 | 1.2172 | 1.2075
SUMMARY : Up
TREND : Downward penetration
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
The pair formed fresh high at 1.2390 on Friday and consolidated on the Asian session today. The main trend direction on the medium term is Bullish. Main tendency development is possible above our next resistance level at 1.2332 (R1). Further appreciation might then be limited by 1.2424 (R2) and 1.2522 (R3) levels. The downside movement is protected by next support at 1.2241 (S1). Confident surpassing of this level will open road to the target at 1.2172 (S2).
----------------
GBPUSD : 1.56971 / 1.56974
DAILY WEEKLY MONTHLY
1.5893 | 1.5834 | 1.5768
1.5666 | 1.5591 | 1.5523
SUMMARY : Up
TREND : Downward penetration
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Today in focus UK Mortgage Approvals release at 08:30 GMT in the European trading session. From the technical side further upside trend development is the main scenario however correction is possible. Breaking out of next resistance level at 1.5768 (R1) would suggest next targets at 1.5834 (R2) and 1.5893 (R3). Loss of our support at 1.5666 (S1) would suggest next target at 1.5591 (S2). Further retracement is limited by last support level at 1.5523 (R3) intraday.
--------------
USDJPY : 78.362 / 78.366
DAILY WEEKLY MONTHLY
79.05 | 78.87 | 78.68
78.26 | 78.06 | 77.86
SUMMARY : Up
TREND : Downward penetration
MA10 : Bearish
MA20 : Bullish
STOCHASTIC : Overbought
MARKET ANALYSIS - Intraday Analysis
After the few days moving in sideways Instrument made an attempt on Friday to go higher and formed fresh high at 78.68, currently our next resistance level. Today pair might try to retest this level later on today. A break above the resistance level at 78.68 (R1) would suggest next target at 78.87 (R2). If the price holds its momentum on the upside we can expect a further rise towards to 79.05 (R3). On the other hand, if the price does not manage to break above 78.68 (R1) we can expect the pair to retest support at 78.26 (S1) and a further fall will be targeted at 78.06 (S2) and 77.86 (S3), the final one for today.
Source: FX Central Clearing Ltd, (Forex Charts | Forex Exchange | ECN Forex Online | FXCC)
Market Overview by FXCC Aug 02 2012
Market Overview by FXCC Aug 02 2012
EUR/USD around 1.2250, the ECB has come
Despite London session ahead will bring almost no macro data EUR related but EU PPI at 09:00 GMT, today will be a busy day mainly focused on Spain with Italian PM Monti traveling to Madrid to meet Rajoy according to newspaper elpais.com, Spanish unemployment change at 07:00 GMT, and most importantly, Spanish Tesoro selling up to € 3B in different maturities from 2 to 10 years, with last 10 year bond yielding 6.43% in last auction, and closing yesterday at 6.72% after 4 day fall from euro era highs at 7.74% one week ago.
But that will only be an introduction to main risk event of the week for Euro, with ECB meeting delivering the interest rate statement at 11:45 GMT followed 45 minutes later by very much awaited Draghi's speech, which will confirm or deny the expectations created past week with his words.
Read More
https://support.fxcc.com/email/technical/02082012/
UPCOMING EVENTS :
2012-08-01 09:00 GMT | EMU - Producer Price Index (YoY) (Jun)
2012-08-01 11:00 GMT | UK - BoE Interest Rate Decision
2012-08-01 11:45 GMT | EMU - ECB Interest Rate Decision
2012-08-01 14:00 GMT | US - Factory Orders (MoM) (Jun)
FOREX NEWS :
2012-08-02 04:28 GMT | GBP/USD steady below 1.5550; ECB, BoE eyed
2012-08-02 03:01 GMT | ECB may be building a bridge to nowhere - Megan Greene
2012-08-02 02:19 GMT | USD/JPY bulls trek above 78.50
2012-08-02 01:41 GMT | AUD/USD attacking 1.0480 resistance post Aus sales
----------------
EURUSD : 1.22534 / 1.22535
DAILY WEEKLY MONTHLY
1.2390 | 1.2332 | 1.2277
1.2217 | 1.2158 | 1.2100
SUMMARY : Down
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
EURUSD made an attempt to go higher yesterday but fail to establish positive bias and dropped below suggested support level at 1.2249. Today we expect further depreciation as main scenario however clearance of next resistance at 1.2277 (R1) will open way for next target attack at 1.2332 (R2). If we see loss of next support level at 1.2217 (S1), next expected targets would be at 1.2158 (S2) and 1.2100 (S3). Close attention to the important news releases today. EMU announce ECB Interest Rate Decision at 11:45 GMT.
--------------
GBPUSD : 1.55558 / 1.55567
DAILY WEEKLY MONTHLY
1.5732 | 1.5654 | 1.5583
1.5522 | 1.5458 | 1.5391
SUMMARY : Down
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Yesterday instrument broke our suggested support level at 1.5625 and successfully achieved next target at 1.5552. From the technical side intraday sentiment is negative as both moving averages are pointing down. Fall below support level at 1.5522 (S1) would suggest next targets at 1.5458 (S2) and 1.5391 (S3). On the other side, brake of next resistance at 1.5583 (R1) might lead to the development of correction with next intraday target at 1.5654 (R2). Appreciation above this level enable next target at 1.5732 (R3) and suggest us about the trend reversal. Today in focus Bank of England Interest rate decision and asset Purchase Facility release at 11:00 GMT as major market drivers.
---------------
USDJPY : 78.466 / 78.471
DAILY WEEKLY MONTHLY
78.82 | 78.68 | 78.54
78.31 | 78.12 | 77.92
SUMMARY : Up
TREND : Upward penetration
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Market gained momentum yesterday and met our final target at 78.49. Volatility increase might be a signal of uptrend development and we expect new highs forming today. Next resistance holds at 78.54 (R1). Rise above this level will provide space for further appreciation towards to next expected target at 78.68 (R2), strong technical level. Brake here is required to enable higher target at 78.82 (R3). On the other hand, decrease of the price below next support level at 78.31 (S1) would suggest target at 78.12 (S2) and any further loss then will be limited by final support at 77.92 (S3).
Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)
Market Overview by FXCC Aug 03 2012
Market Overview by FXCC Aug 03 2012
EUR/USD frozen; NFP the name of the game
London session ahead will be a quiet one in EUR macro data terms, with only some PMI figures coming from Spain, Italy, France, Germany, and the UE at 07:13, 07:43, 07:48, 07:53, and 07:58 respectively, all GMT, followed by UE retail sales at 09:00 GMT, with no critical auctions from the EZ sovereign front. Spain's 10 year bond yields had yesterday biggest boost of all year going from as low as 6.6% to 7.25% highs, while Italian ones also skyrocketed above the 6.2%, while German ones plummeted again below the 1.3%, thus making risk premiums widen.
But the name of the game today is called the US NFP, which is played at 12:30GMT, and that's what everybody will be waiting for, with expectations for the figure to be around the 100k, and unemployment rate to be unchanged at 8.2%, with anything below that being a bell ringing for Bernanke's next QE3. US ISM non-manufacturing PMI will also capture traders eyes as it will probably bring more volatility to markets, more even so after decreasing Chinese PMI data, last one today being at 55.6, coming lower than previous.
Read More
https://support.fxcc.com/email/technical/03082012/
UPCOMING EVENTS :
2012-08-03 08:30 GMT | UK - Markit Services PMI (Jul)
2012-08-03 09:00 GMT | EMU - Retail Sales (MoM) (Jun)
2012-08-03 12:30 GMT | US - Nonfarm Payrolls (Jul)**
2012-08-03 14:00 GMT | US - ISM Non-Manufacturing PMI (Jul)
FOREX NEWS :
2012-08-03 04:30 GMT | GBP/USD consolidation expected ahead of NFP
2012-08-03 02:30 GMT | China HSBC China Services PMI: 53.1
2012-08-03 01:01 GMT | Next leg of crisis to prove more pronounced after ECB shocker - Nomura
2012-08-03 00:36 GMT | Clear signs that EUR/USD has further room to fall
----------
EURUSD 1.21809 / 1.21814
DAILY WEEKLY MONTHLY
1.2332 | 1.2277 | 1.2217
1.2133 | 1.2068 | 1.2003
SUMMARY Down
TREND Down trend
MA10 Bearish
MA20 Bearish
STOCHASTIC Neutral
MARKET ANALYSIS - Intraday Analysis
ECB leaved interest rate unchanged and EURUSD showed positive reaction. Pair broke our expected resistance level at 1.5583 and met our final target at 1.5732. Later, marker reversed and our short target at 1.2332 was achieved. Major market driver for today would be United States Nonfarm Payrolls (Jul) release at 12:30 GMT. From technical side, we expect brake above our next resistance level at 1.2217 (R1) targeting 1.2277 (R2) and 1.2332 (R3). For short direction, loss of next support level at 1.2133 (S1) would enable next targets at 1.2068 (S2) and 1.2003 (S3) in extension.
---------------
GBPUSD 1.55146 / 1.55155
DAILY WEEKLY MONTHLY
1.5697 | 1.5626 | 1.5553
1.5490 | 1.5428 | 1.5361
SUMMARY Down
TREND Down trend
MA10 Bearish
MA20 Bearish
STOCHASTIC Neutral
MARKET ANALYSIS - Intraday Analysis
GBPUSD broke our suggested resistance level and further appreciation found our target at 1.5654. Than marked dropped below our support at 1.5522 and stabilized around this level. Potential is seen for break above 1.5553 level (R1), that will let for stronger appreciation and open initial targets at 1.5626 (R2) and 1.5697 (R3) levels. Downside development remains for now limited by next support level at 1.5490 (S1), with only clear break here would be a signal of market weakening with next targets at 1.5428 (S2) and 1.5361(S3).
--------------
USDJPY 78.208 / 78.214
DAILY WEEKLY MONTHLY
78.68 | 78.49 | 78.30
78.07 | 77.92 | 77.76
SUMMARY Sideway
TREND Down trend
MA10 Bearish
MA20 Bearish
STOCHASTIC Neutral
MARKET ANALYSIS - Intraday Analysis
USDJPY failed to develop positive bias and dropped below suggested support level at 78.31 and exposed our target at 78.12. Technically instrument remain trading in range. A break above the first resistance level of 78.30 (R1) would suggest a target at 78.49 (R2). If the price holds its momentum on the upside we can expect a further rise towards to 78.68 (R3). On the other hand, if the price does not manage to break next support at 78.07 (S1) we can expect the pair to retest support at 77.92 (S2) and any further fall than would be limited by 77.76 (S3).
Source: FX Central Clearing Ltd, ( Forex Signals | ECN Forex Broker | Forex Trade | FXCC )
Market Overview by FXCC Aug 07 2012
Market Overview by FXCC Aug 07 2012
BoJ may tweak its operations again; no major policy changes
The BOJ is expected to leave its major policies unchanged at the meeting on August 8-9, unless USDJPY declines substantially, says Nomura strategist Yujiro Goto. "We think the Bank may tweak its operation slightly again to make its JGB buying operation easier" he said. This time, two new board members, Mr. Sato and Mr. Kiuchi, will attend the meeting for the first time. "If either or both of the new board members dissent against the governor, USDJPY would likely rise, but only until the market realizes that one or two dissents are unlikely to lead to any imminent radical policy shift" Mr. Goto notes. Nonetheless, "the new board members‟ inflation forecasts are likely to be more pessimistic and, thus, we think it worth watching for any changes to the BOJ's economic and inflation assessments" Nomura strategist adds. Keep an eye on any discussion about BOJ foreign bond buying too, Mr. Goto concluded.
In the European session ahead, the June UK Industrial Production and Manufacturing data will be risk event for GBP, due for release at 08:30 GMT. Later in the day, the National Institute of Economic and Social Research GDP Estimate is scheduled for release at 14:00 GMT. (fxstreet.com)
Read More
https://support.fxcc.com/email/technical/07082012/
UPCOMING EVENTS :
2012-08-07 08:30 GMT | United Kingdom. Industrial Production (YoY) (Jun)
2012-08-07 14:00 GMT | United Kingdom. NIESR GDP Estimate (3M) (Jul)
2012-08-07 18:30 GMT | United States. Fed's Bernanke Speech
2012-08-07 23:50 GMT | Japan Trade Balance - BOP Basis (Jun)
FOREX NEWS :
2012-08-07 04:21 GMT | GBP/USD hovers below 1.56 late in Asia
2012-08-07 01:48 GMT | AUD bulls should keep closer eye on FED, ECB than RBA
2012-08-07 00:57 GMT | EUR/USD to continue resisting downside dips
2012-08-07 00:24 GMT | USD/JPY seeking test of US lows; Semi-official bids near 78.00
--------------
EURUSD : 1.23800 / 1.23803
DAILY WEEKLY MONTHLY
1.2595 | 1.2519 | 1.2443
1.2368 | 1.2298 | 1.2222
SUMMARY : Sideway
TREND : Downward penetration
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Market stabilized yesterday after the Friday’s gains. Medium term bias is positive however today we expect correction as main scenario. Our resistance levels remain the same as yesterday. Potential of going higher is seen above next resistance at 1.2443 (R1), surpassing of this level would suggest next targets at 1.2519 (R2) and 1.2595 (R3). If it fail to go higher, we might see further retracement development below next support at 1.2368 (S1) with next target at 1.2298 (S2). Achieving of the support levels might lead to the further instrument strengthening.
------------
GBPUSD : 1.55719 / 1.55728
DAILY WEEKLY MONTHLY
1.5713 | 1.5666 | 1.5618
1.5574 | 1.5529 | 1.5490
SUMMARY : Sideway
TREND : Downward penetration
MA10 : Bearish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Today in focus United Kingdom Industrial Production release at 08:30 GMT. Pair is quoting roughly -0.10% below its opening price and we expect increasing of the volatility later on today. Technically next support level locates at 1.5574 (S1), pushdown of the price is possible below this level. We suggest next targets at 1.5529 (S2) and 1.5490 (S3). Failure to go lower suggested support level will put in focus our resistance level at 1.5618 (R1), brake here would suggest next targets at 1.5666(R2) and 1.5713 (R3).
-----------
USDJPY : 78.274 / 78.278
DAILY WEEKLY MONTHLY
78.77 | 78.57 | 78.37
78.13 | 77.92 | 77.70
SUMMARY : Up
TREND : Upward penetration
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Today we have important news from Japan that might establish trading tone for Asian session - Japan Trade Balance at 23:50 GMT. Technically, USDJPY remain to be traded in range mode. Successful attack of next resistance level at 78.37 (R1) will provide market with a new target at 78.57 (R2). On the other hand, possible execution of protective orders below next support level at 78.13 (S1) might drive market price toward to our suggested targets at 77.92 (S2) and 77.70 (S3).
Source: FX Central Clearing Ltd, ( Forex Calendar | Forex Trading Strategies | ECN Trading Forex | FXCC )
Market Overview by FXCC Aug 08 2012
Market Overview by FXCC Aug 08 2012
UK inflation report should keep GBP under pressure
The Inflation Report, due out at 9.30GMT today, has potential to influence the near-term GBP outlook, says RBS strategy team. "While the MPC will not want to be backed into a corner on cutting the base rate ahead of an assessment of the FLS (Funding for Lending Scheme), there should be enough dovish sentiment to keep GBP under pressure" RBS notes.
A quiet session ahead in London in terms of EUR macro data related, starting at 06:00 GMT with German current account and trade balance, followed 30 minutes later by French BoF business sentiment, and trade balance 15 minutes after, Spanish industrial production at 07:00 GMT, and probably most important, German industrial production at 10:00 GMT. In the sovereign debt front Germany will auction up to € 4B in 10 year bunds at 06:00 GMT, with 10 year yields on the rise since record lows at 1.12% on July 23, last at 1.48%. (fxstreet.com)
Read More
https://support.fxcc.com/email/technical/08082012/
UPCOMING EVENTS :
2012-08-08 09:30 GMT | U.K. Bank of England Quarterly Inflation Report
2012-08-08 10:00 GMT | Germany. Industrial Production (YoY) (Jun)
2012-08-08 17:00 GMT | U.S. 10-Year Note Auction
2012-08-08 23:50 GMT | Japan. Foreign bond investment
FOREX NEWS :
2012-08-08 04:37 GMT | EUR/USD pegged near 1.24 for third day
2012-08-08 04:37 GMT | GBP/USD flat as market awaits UK inflation outlook
2012-08-08 03:57 GMT | BoE to lower inflation, GDP growth forecasts - UBS
2012-08-08 03:47 GMT | USD/JPY calmed around 78.50 ahead of BoJ
EURUSD : 1.23902 / 1.23907
DAILY WEEKLY MONTHLY
1.2595 | 1.2519 | 1.2443
1.2368 | 1.2298 | 1.2222
SUMMARY : Up
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
EURUSD made an attempt to go higher yesterday but fail to climb above our suggested resistance level at 1.2443 (R1), strong technical level. We expect retest of this level later on today. Brake here is required to enable next targets at 1.2519 (R2) and 1.2595 (R3). At the moment instrument is moving towards to our next support levels at 1.2368 (S1). If it breaks below it we expect the price to form a correction towards to next support at 1.2298 (S2) and then we might see reversal of tendency (daily).
--------------
GBPUSD : 1.56082 / 1.56091
DAILY WEEKLY MONTHLY
1.5768 | 1.5726 | 1.5683
1.5588 | 1.5545 | 1.5503
SUMMARY : Sideway
TREND : Downward penetration
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
GBPUSD appreciated yesterday above our suggested resistance level at 1.5618 and met our target at 1.5666. Next resistance level for today locates at yesterday high – 1.5683 (R1). Brake here would suggest next target at 1.5726 (R2) and any further rise will then be limited to 1.5768 (R3). However, we expect the price to retest our next support level at 1.5588 (S1). A break below that level would suggest next targets at 1.5545 (S2) and 1.5503 (S3). In focus Bank of England Quarterly Inflation Report at 09:30 GMT that might bring additional volatility on the markets.
---------------
USDJPY : 78.423 / 78.429
DAILY WEEKLY MONTHLY
79.26 | 79.00 | 78.77
78.37 | 78.13 | 77.92
SUMMARY : Up
TREND : Sideway
MA10 : Bearish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
USDJPY rose yesterday and met our suggested target at 78.57. Strong psychological level stay at 78.77 (R1), brake here might determine medium term trend development and change of the market sentiment. In such scenario we would suggest targets at 79.00 (R2) and 79.26 (R3). On the other hand market still moves in range mode and break below next support level at 78.37 (S1) might expose our next target at 78.13 (S2). Further intraday fall with then be limited to 77.92 (S3), final support of the medium term sideways channel.
Source: FX Central Clearing Ltd, ECN Forex Trading System | What Is Forex | Forex Live | FXCC
Market Overview by FXCC Aug 09 2012
Market Overview by FXCC Aug 09 2012
BOJ: no change in policy
The BoJ monetary policy decision is out and as most participants expected - not a clear cut as in previous months - , the central bank has kept the asset purchase fund at 45 trillion yen, with the credit Loan program also unchanged at 25T yen. Total size of Asset-Purchase Program remains at Y70 trillion. Central bank statement said economy picking up moderately. The Japanese GDP figures will be released next week.
Looking at the economic agenda for the London session ahead one should think another quiet session is around the corner, though with such extreme low liquidity given summer time holidays in Europe and London Olympics in the middle of the final series, any unexpected headline coming from nowhere could make things change in the blink of an eye. Still, no major sovereign debt auctions are scheduled from the EZ, and troubled countries Spain and Italy's 10y yields stay on check right below the 7% in the Spanish case and right below the 6% for his Latin neighbor. (fxstreet.com)
Read More
https://support.fxcc.com/email/technical/09082012/
UPCOMING EVENTS :
2012-08-09 08:00 GMT | E.M.U. ECB Monthly Report
2012-08-09 08:30 GMT | U.K. Goods Trade Balance (Jun)
2012-08-09 12:15 GMT | CANADA. Housing Starts (Jul)
2012-08-09 12:30 GMT | U.S. Trade Balance (Jun)
FOREX NEWS :
2012-08-09 04:28 GMT | GBP/USD sideways below 100 EMA; UK trade accounts ahead
2012-08-09 02:53 GMT | EUR/USD: break of key levels eyed – V.Bednarik
2012-08-09 02:29 GMT | AUD/JPY rallies capped below key Fibo resistance
2012-08-09 01:40 GMT | China: July CPI prints 1.8% YoY, beating expectations
-----------------
EURUSD 1.23692 / 1.23695
DAILY WEEKLY MONTHLY
1.2595 | 1.2519 | 1.2443
1.2325 | 1.2243 | 1.2148
SUMMARY : Up
TREND : Upward penetration
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
As we expected yesterday, EURUSD continued to move in correction mode. Pair dropped below our suggested support level at 1.2368 but did not manage to gain momentum reversed on the US session. Today we are not expecting significant volatility increase however ECB Monetary report release at 08:00 GMT time might affect the markets. If the break occurs above next resistance level at 1.2443 (R1), we suggest next targets at 1.2519 (R2) and 1.2595 (R3). The downside trend evolvement is limited by next support level at 1.2325 (S1), surpassing of which might lead to the next targets at 1.2243 (S2) and 1.2148 (S3).
------------------
GBPUSD : 1.56649 / 1.56658
DAILY WEEKLY MONTHLY
1.5816 | 1.5755 | 1.5696
1.5653 | 1.5606 | 1.5554
SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
GBPUSD moved below expected support level at 1.5574 but failed to develop success and recover all daily losses. A further increase will then bring focus to the next resistance levels at 1.5696 (R1) and 1.5755 (R2). Final resistance can be found at 1.5816 (R3) level. Likely we might see retracement from previous day gains. Next support level holds at 1.5653 (S1). A break below that level would suggest next target at 1.5606 (S2), further fall will then focus on the next target at 1.5554 (S3).
--------------
USDJPY : 78.506 / 78.509
DAILY WEEKLY MONTHLY
79.00 | 78.78 | 78.58
78.23 | 78.05 | 77.86
SUMMARY : Sideway
TREND : Sideway
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Technically, instrument moved in range mode. In such situation we suggest to wait for clear signal of sentiment change. For long positions we suggest intraday targets at 78.58 (R1) and 78.78 (R2), clearance here is required for sentiment change to bullish and further appreciation might find final resistance at 79.00 (R3). Short positions might face supports at 78.23 (S1) and 78.05 (S2). Strong technical support located at 77.86 (S3), brake here would suggest of sentiment change to bearish.
Source: FX Central Clearing Ltd, ( ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC )
Market Overview by FXCC Aug 10 2012
Market Overview by FXCC Aug 10 2012
RBA outlook for growth continues around trend with inflation on target
The RBA’s quarterly update on financial markets and the economy held few surprises for the market, says NAB economist Robert Henderson. To summarize the report, Robert reports: "The RBA expects some moderation in growth in the second half the 2012 after strong growth in the first half (at least as measured by GDP) and then the economy growing at trend ahead. At the same time, inflation has bottomed but is expected to travel within the target band out to the end of 2014."
As it has been usual in the recent past, Fridays don't bring any critical EZ sovereign debt auctions to take place, and London session ahead will again be a quiet one in terms of EUR macro data related, despite the bunch of minor figures will be released, starting with German CPI and HCPI at 06:00 GMT, followed 45 minutes later by French industrial,manufacturing production, and Gov budget balance, and Italian CPI at 08:00 GMT. The UK will deliver PPI figures at 08:30 GMT which could bring some volatility to cross EUR/GBP. (fxstreet.com)
Read More
https://support.fxcc.com/email/technical/10082012/
UPCOMING EVENTS :
2012-08-10 06:00 GMT | Germany. Consumer Price Index (YoY) (Jul)
2012-08-10 08:00 GMT | United Kingdom. PPI Core Output (YoY)
2012-08-10 12:30 GMT | Canada. Unemployment Rate (Jul)
2012-08-10 18:00 GMT | United States. Monthly Budget Statement (Jul)
FOREX NEWS :
2012-08-10 04:32 GMT | GBP/USD selling to continue upon break of 1.56
2012-08-10 03:54 GMT | After China trade print, worst still to come - HSBC
2012-08-10 03:12 GMT | Trade Balance figures disappoint in July
2012-08-10 02:36 GMT | AUD/USD to fresh session lows post RBA
--------------
EURUSD : 1.22887 / 1.22892
DAILY WEEKLY MONTHLY
1.2519 | 1.2420 | 1.2327
1.2265 | 1.2148 | 1.2038
SUMMARY : Down
TREND : Up trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC | Neutral
MARKET ANALYSIS - Intraday Analysis
Yesterday instrument declined below our suggested support level at 1.2325 and formed fresh low at 1.2265 (S1), our next support level. Uptrend on the medium term still in power and we might see appreciation of the instrument later on today. A break above next resistance level at 1.2327 (R1) would suggest next target at 1.2420 (R2). If the price holds its momentum on the upside we can expect a further rise towards to 1.2519 (R3). On the other hand, loss of next support at 1.2265 (S1) might lead to the further correction development with targets at 1.2148 (S2) and 1.2038 (S3) levels.
----------------
GBPUSD : 1.56203 / 1.56212
DAILY WEEKLY MONTHLY
1.5755 | 1.5696 | 1.5647
1.5605 | 1.5555 | 1.5501
SUMMARY : Sideway
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC | Overbought
MARKET ANALYSIS - Intraday Analysis
GBPUSD successfully penetrated below our expected support level at 1.5653 and met our first target at 1.5606. Technically, development of the trend might occur in any direction now. Clearance of next resistance level at 1.5647 (R1) would suggest next targets at 1.5696 (R2) and any further rise will be limited by last resistance at 1.5755 (R3) intraday. From the other side, loss of next support at 1.5605 (S1) might encourage executing of orders and drive market price towards to the next targets at 1.5555 (S2) and 1.5501 (S3) levels.
---------------
USDJPY : 78.544 / 78.549
DAILY WEEKLY MONTHLY
79.20 | 79.01 | 78.79
78.48 | 78.29 | 78.09
SUMMARY : Sideway
TREND U : pward penetration
MA10 : Bearish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
As expected yesterday, USDJPY continued its range trading mode and we are not expecting the sentiment change today. Next support level stays at 78.48 (S1). Brake here would suggest next target at 78.29 (S2), where we can see reversal of the intraday tendency. Any further fall would then be limited by last support at 78.09 (S3). From the upper side, next resistance levels locates at 78.79 (R1) and 79.01 (R2). In current market conditions we suggest to wait for clear signal of market sentiment change.
Source: FX Central Clearing Ltd, ( ECN Forex Trading System | What Is Forex | Forex Live | FXCC )
Market Overview by FXCC Aug 13 2012
Market Overview by FXCC Aug 13 2012
USD, from here to eternity - UBS
The US Dollar is likely to remain the world's reserve currency over the next fifty years, says Mansoor Mohi-uddin Head of Foreign Exchange Strategy at UBS Macro Research. "This eternity forecast could be derailed if a deadlocked Congress refused to raise America's debt ceiling, yet, in the absence of the US government defaulting in future, the dollar's dominance may prove surprisingly durable" Mr. Mohi-uddin said in a research note.
London session ahead has almost no EUR macro data related, with only German wholesale price index at 06:00 GMT, followed by French current account 45 minutes later, and Greek prelim 2Q GDP at 09:00 GMT. Little bit busier in the sovereign debt auctions front, Germany will sell up to € 4B in 6 month bills at 06:00 GMT, while Italy will auction up to € 8B in 12 month bills.
Read More
https://support.fxcc.com/email/technical/13082012/
UPCOMING EVENTS :
2012-08-13 06:00 GMT | Germany. Wholesale Price Index (YoY) (Jul)
2012-08-13 22:45 GMT | New Zealand. Retail Sales (QoQ) (Q2)
2012-08-13 23:00 GMT | United Kingdom. RICS Housing Price Balance (Jul)
2012-08-13 23:50 GMT | Japan. BoJ Monetary Policy Meeting Minutes
FOREX NEWS :
2012-08-13 04:14 GMT | GBP/AUD sideways, off 6-month lows
2012-08-13 03:50 GMT | EUR/JPY holding above 96.00
2012-08-13 03:25 GMT | AUD/USD gently bid above 1.0550
2012-08-13 02:44 GMT | Downside USD/JPY risks appear limited - UBS
EURUSD : 1.22841 / 1.22845
DAILY WEEKLY MONTHLY
1.2490 | 1.2402 | 1.2327
1.2240 | 1.2165 | 1.2085
SUMMARY :
Upward : penetration
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Market sentiment remains positive on the medium term perspective. The crossing of moving averages recently could be considered as signal of uptrend direction priority for today. A break above 1.2327 (R1) would suggest target at 1.2402 (R2) and further gain will then be limited at 1.2490 (R3). However break below the 1.2240 (S1) level might provide space for further retracement development. We suggest next target at 1.2165 (S2), brake here is required to enable final target at 1.2085 (S3).
-------------------
GBPUSD : 1.56679 / 1.56690
DAILY WEEKLY MONTHLY
1.5805 | 1.5755 | 1.5702
1.5656 | 1.5605 | 1.5555
SUMMARY : Sideway
TREND : Upward penetration
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Instrument stabilized after the Friday’s appreciation. Currently pair is losing -0.11% from its opening price. If the price manages to stay above suggested support level at 1.5656 (S1), we expect the price to attack next resistance level at 1.5702 (R1). Clearance here is required for the instrument strengthening, next expected target holds at 1.5755 (R2). Any further rise would be limited by last resistance at 1.5805(R3) intraday. On the other hand, drop below support level at 1.5656 (S1) would suggest next target at 1.5605 (S2). Final support level for today holds at 1.5555 (S3).
--------------
USDJPY : 78.305 / 78.310
DAILY WEEKLY MONTHLY
78.79 | 78.60 | 78.41
78.14 | 77.92 | 77.70
SUMMARY : Sideway
TREND : Down trend
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
We are not expecting significant volatility increase today however BoJ Monetary Policy Meeting Minutes at 23:50 GMT might assist to the trend development. A break above the first resistance level at 78.41 (R1) would suggest next target at 78.60 (R2). If the price holds its momentum on the upside we can expect a further rise towards to 78.79 (R3). On the other hand, if the price does not manage to break above 78.41 (R1) we can expect the pair to retest support at 78.14 (S1) and a further fall will be targeted at 77.92 (S2). Successful brake here might expose last target at 77.70 (S3).
Source: FX Central Clearing Ltd, ( ECN Forex Trader | Forex Strategies | Forex Trading Software | FXCC )