Update - Daily Technical Levels from FXCC - page 43
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
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
FXCC Forex Trading Blog
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,( Best Forex Trading Platform | ECN Broker Account | FXCC )
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.
https://support.fxcc.com/email/technical/29032013/
FOREX ECONOMIC CALENDAR :
2013-03-29 12:30 GMT | United States. US Core Personal Consumption Expenditure - Prices Index (YoY) (Feb)
2013-03-29 12:30 GMT | United States. US Personal Income (MoM) (Feb)
2013-03-29 12:30 GMT | United States. US Personal Spending (Feb)
2013-03-29 13:55 GMT | United States. Reuters/Michigan Consumer Sentiment Index (Mar)
FOREX NEWS :
2013-03-29 07:07 GMT | EUR/USD hovering around 1.2800
2013-03-29 06:00 GMT | GBP/USD holding around 1.5200
2013-03-29 05:36 GMT | Japan data disappoints; Yen advances a bit
2013-03-29 03:53 GMT | EUR/JPY gravitating around 120.70
----------------------
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,( FX Central Clearing Ltd )
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. - https://support.fxcc.com/email/technical/01042013/
FOREX ECONOMIC CALENDAR :
2013-04-01 14:00 GMT | USA.Construction Spending (MoM) (Feb)
2013-04-01 14:00 GMT | USA.ISM Manufacturing PMI (Mar)
2013-04-01 14:00 GMT | USA.ISM Prices Paid (Mar)
2013-04-01 22:30 GMT | AU.AiG Performance of Mfg Index (Mar)
FOREX NEWS :
2013-04-01 04:31 GMT | EUR/USD offered below 1.28; Italy and Cyprus main focus
2013-04-01 04:06 GMT | GBP/USD, premature to abandon bullish H&S pattern - BBH
2013-04-01 02:59 GMT | AUD/JPY lowest in 2 weeks, holds above 97.50
2013-04-01 01:26 GMT | USD/JPY dips further, 94.00 holds
---------------------
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,( ECN Forex Trading Accounts | Currency Converter | Forex School | FXCC )
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.
https://support.fxcc.com/email/technical/02042013/
FOREX ECONOMIC CALENDAR :
2013-04-02 07:43 GMT | Italy. IT Markit Manufacturing PMI (Mar)
2013-04-02 08:28 GMT | UK. Markit Manufacturing PMI (Mar)
2013-04-02 12:00 GMT | Germany. DE Consumer Price Index (YoY) (Mar)
2013-04-02 14:00 GMT | USA. Factory Orders (MoM) (Feb)
FOREX NEWS :
2013-04-02 04:51 GMT | EUR/USD adjusts value within bearish context
2013-04-02 03:58 GMT | USD/JPY enters 92.40/75 demand after 92.95 break
2013-04-02 03:46 GMT | AUD/USD higher as RBA on holds
2013-04-02 03:40 GMT | RBA holds rates at 3%; statement more neutral
EURUSD :
HIGH 1.28775 LOW 1.28399 BID 1.28616 ASK 1.28621 CHANGE 0.1% TIME 08 : 01:01
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,( Best ECN Trading Account | Forex Trading Education | FXCC )
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.
FXCC Forex Trading Blog
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,( http://www.fxcc.com )
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.
FXCC Forex Trading Blog
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,( Forex School | Currency Converter | Best Forex Trading Software | FXCC )
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
https://support.fxcc.com/email/technical/05042013/
FOREX ECONOMIC CALENDAR :
2013-04-05 09:00 GMT | EMU. Gross Domestic Product s.a. (QoQ) (Q1)
2013-04-05 10:00 GMT | Germany. Factory Orders n.s.a. (YoY) (Feb)
2013-04-05 12:30 GMT | USA. Nonfarm Payrolls (Mar)
2013-04-05 12:30 GMT | Canada. Unemployment Rate (Mar)
FOREX NEWS :
2013-04-05 04:35 GMT | USD/JPY dives below 96.30 on massive taking profit
2013-04-05 04:19 GMT | EUR/USD negates market sentiment climbing above 1.29
2013-04-05 03:41 GMT | AUD/USD dips to 1.0400 lows
2013-04-05 02:09 GMT | EUR/JPY biggest single day rally on record above 125.30
----------------------
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,( Forex School | Currency Converter | Best Forex Trading Software | FXCC )
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."
FXCC Forex Trading Blog
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,( Forex Blog | Currency Converter | Forex Trading Platform | FXCC )
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.
https://support.fxcc.com/email/technical/09042013/
FOREX ECONOMIC CALENDAR :
2013-04-09 06:00 GMT | Germany. Trade Balance s.a. (Feb)
2013-04-09 08:30 GMT | UK. Manufacturing Production (YoY) (Feb)
2013-04-09 12:15 GMT | Canada. Housing Starts s.a (YoY) (Mar)
2013-04-09 14:00 GMT | UK. NIESR GDP Estimate (3M) (Mar)
FOREX NEWS :
2013-04-09 04:43 GMT | EUR/USD hits 3 ½ week high; fresh upside potential
2013-04-09 03:11 GMT | NZD/USD testing long term resistance below 0.85
2013-04-09 02:14 GMT | USD/CAD finds 1.0160 double bottom; upside risks - TDS
2013-04-09 01:48 GMT | AUD/USD higher on China CPI
-------------------------
EURUSD :
HIGH 1.30679 LOW 1.3009 BID 1.30454 ASK 1.30461 CHANGE 0.28% TIME 08:39:23
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,( FX Central Clearing Ltd )
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.
https://support.fxcc.com/email/technical/10042013/
N/A | China. New Loans (Mar)
2013-04-10 17:00 GMT | USA. 10-Year Note Auction
2013-04-10 18:00 GMT | USA. US FOMC Minutes
2013-04-10 22:30 GMT | New Zeland. Business NZ PMI (Mar)
2013-04-10 04:29 GMT | EUR/USD, above 1.31 where true strength test begins
2013-04-10 03:31 GMT | NZD/JPY at 95 not outside the bounds of possibility - BNZ
2013-04-10 02:26 GMT | AUD/JPY pushes again above 104 highs post China trade deficit
2013-04-10 02:22 GMT | AUD/USD strengthens bullish case; 1.0516 new high post China trade
--------------------------------
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,( Currency Trading Blog | Forex Account | Auto Forex Trading Account | FXCC )