Update - Daily Technical Levels from FXCC - page 26
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 9 2012
Market Overview by FXCC July 9 2012
Euro tumbles below 1.23, USD strong on hopes of stimulus
This was an eventful week in terms of expectations and its resultant outcome. Starting with the American markets, stocks gave mixed endings as US added just 80,000 jobs in June, darkening the outlook for the US recovery and dashing some of the political momentum President Obama gained after the Supreme Court upheld his healthcare law last week. The lackluster pace of job creation, which left the unemployment rate unchanged at 8.2%, adds to mounting evidence that the American economy is feeling the effects of both the Euro-zone debt crisis and slower growth in large emerging markets such as China. The benchmark index is less than 0.1% above where it was two months ago. Among the marquee indices, NASDAQ remained the only index that gained weekly by 0.1%. However, Dow got lower by 0.8%, followed by S&P 500 (-0.6%). On the European side, stocks extended declines for a third day as payrolls in the world’s biggest economy increased less than forecast in June. German industrial output rebounded more than economists forecast in May as construction buttressed Europe’s largest economy against the sovereign debt crisis. The price of goods leaving UK factories fell the most in more than 3 1/2 years. The FTSE 100 rose by 1.6%. However, DAX and CAC 40 fell by 0.1% and 0.9% respectively. Asian stocks rose this week, with the indices capping its fourth advance in five weeks, on anticipation central banks would ease monetary policy to spur growth. Hang Seng rose by 1.8%, followed by Nikkei, which rose by 0.2%.
Wall Street has been running in circles for the past two months, and the pattern may continue despite the upcoming start of the earnings seasons. After three major central banks eased monetary policy this week, investors will comb through the minutes of the latest Federal Reserve policy meeting, which will be released on Wednesday, to see what officials said about a further round of asset purchases. Europe remains on traders' minds despite an agreement last week that opens the door for troubled banks to receive rescue funds. In Asia, China is set to report YoY GDP growth. Other Chinese data next week include inflation, loan growth, trade balance and retail sales.
Read More
UPCOMING EVENTS :
2012-07-09 N/A | UK - BOE Deputy Governor Paul Tucker speaks
2012-07-09 12:30 GMT | EMU - ECB President Draghi's Speech
2012-07-09 15:55 GMT | US - FOMC Member Williams speech
2012-07-09 19:00 GMT | US - Consumer Credit Change (May)
FOREX NEWS :
2012-07-09 04:38 GMT | GBP/USD unchanged after 1% drop, starting week at 5-week lows
2012-07-09 03:30 GMT | China CPI hints more PBoC cuts to come - UBS
2012-07-09 03:16 GMT | BoJ easing expansion unlikely this week - UBS
2012-07-09 01:37 GMT | China: CPI increased only 2.2% in June
---------------
EURUSD : 1.22863 / 1.22869
DAILY WEEKLY MONTHLY
1.2496 | 1.2439 | 1.2360
1.2250 | 1.2175 | 1.2095
SUMMARY : Neutral
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Technicals remain bearish as additional downside momentum is building. Risk/return is better elsewhere. There is support at 1.2150 which was a pivot in June 2010 and is joined by the 161.8% extension at 12142. The 61.8% extension comes in at 12068. On the near term charts we see supports at 1.2288, 1.2190 and then at 1.2132 whereas resistance levels are seen at 1.2365, 1.2401 and then at 1.2450.
----------
GBPUSD : 1.54909 / 1.54919
DAILY WEEKLY MONTHLY
1.5584 | 1.5552 | 1.5517
1.5457 | 1.5420 | 1.5384
SUMMARY : Neutral
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Technicals are bearish and indicators suggest a decline, 1.5485 (June 28 low) is key level to watch as the GBP found new resistance levels at 1.5563, if the price moves below these levels it supports a new downward trend. Supports are seen at 1.5500, 1.5485 and then at 1.5473, whereas resistance levels are seen at 1.5598, which is the 21-DMA line and then at 1.5601, which is the 10-DMA.
------------
USDJPY : 79.692 / 79.697
DAILY WEEKLY MONTHLY
80.22 | 80.02 | 79.80
79.42 | 79.23 | 79.04
SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Technicals are bullish with the uptrend set to continue as support from 21 day MA (79.59) is solid. The pair settled the week little changed, supports are seen at 79.60/41 and then at 79.23. On the other hand, resistance levels are seen at 80.02/10 and then at 80.56.
Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)
Market Overview by FXCC July 10 2012
Market Overview by FXCC July 10 2012
Chinese Economic Data continues to disappoint as trade balance widens.
This morning's Chinese Trade Balance is making headlines in all the news. Imports grew 6.3% in June, versus expectations for an 11.3% rise, and below a 12.7% gain in May, according to official data. Export shipments grew 11.3% for the month, ahead of the 9% rise expected but down from May’s 15.3% rise. Markets are all ready registering disappointment. Yesterday, China released a good deal of data with lackluster results.
Also, the Eurogroup issued a statement towards the close of their meeting stating that they were agreeing to an extension of Spain’s budget targets and moving closer to providing financial assistance to Spanish banks, they also noted that they were continuing to move ahead on the ESM and the banking plan introduced on June 29th by the EU Ministers, but otherwise very little occurred. Markets were disappointed. As earning season arrives, Alcoa kicked off with news of a loss which will also weigh heavily on the markets today.
Read More
https://support.fxcc.com/email/technical/10072012/
UPCOMING EVENTS :
2012-07-10 08:30 GMT | UK - Industrial & Manufacturing Production
2012-07-10 12:15 GMT | CAD - Housing Starts s.a (YoY) (Jun)
2012-07-10 14:00 GMT | UK - NIESR GDP Estimate (3M) (Jun)
2012-07-10 23:00 GMT | AUD - RBA Deputy Governor Lowe Speaks
FOREX NEWS :
2012-07-10 04:35 GMT | GBP/USD slips to 1.55; UK data eyed
2012-07-10 04:17 GMT | EUR/USD back to square for the week
2012-07-10 02:03 GMT | China Jun Trade Balance 31.73B
2012-07-10 02:03 GMT | China Imports (YoY) 6.3% in Jun
--------------
EURUSD : 1.22937 / 1.22941
DAILY WEEKLY MONTHLY
1.2392 | 1.2358 | 1.2338
1.2284 | 1.2250 | 1.2230
SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Overbought
MARKET ANALYSIS - Intraday Analysis
The pair has breached the previous low of 1.2332 and the key supports currently are at 1.2180 (50% of the Fibonacci retracement level for the 0.82 to 1.60 range) then 1.1880 in the near term. RSI-14 momentum indicator is also tending towards the downside and is currently reading 0.33. Supports are at 1.2150 then 1.2080 and resistances are at 1.2392 then 1.2450. - Technicals show that a bearish downside momentum is building.
-----------------
GBPUSD : 1.55086 / 1.55096
DAILY WEEKLY MONTHLY
1.5616 | 1.5575 | 1.5552
1.5488 | 1.5447 | 1.5424
SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Overbought
MARKET ANALYSIS - Intraday Analysis
The pair has breached the trend line support of 1.5540 and closed below it. RSI is reading 0.43 and is tending towards the downside. The charts show a minor pullback can be expected shortly and may test the trend line resistance of 1.5560 and may sell at these levels. At present, the support is at 1.5453, and a breach of this level will see the next support coming in at 1.5360. The near-term scenario will remain weak; if it continues to decline further, then it may test lower levels of 1.5250. Meanwhile, the resistance is evident at 1.5560 then 1.5640. Technicals are bearish look for a breach of the June 28 low 1.5485 leaves 1.5450 as the next key level.
-----------------
USDJPY : 79.498 / 79.502
DAILY WEEKLY MONTHLY
80.015 | 79.890 | 79.730
79.445 | 79.315 | 79.155
SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
The pair traded sideways to close on a negative note. Although the pair breached the major EMAs (8-day, 21-day and 34-day), it failed to sustain above those levels. RSI has been hovering in the same range of 0.50, and, therefore, is not indicating a clear direction for the pair. In the near term, the yen may trade slightly lower before witnessing some buying pressure at lower levels. Supports are seen at 79.17 then 78.70 while resistances are at 80.13 then 80.90. Technicals are mixed - recent uptrend has slowed, though support remains near 21 DMA (79.59)
Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)
Market Overview by FXCC July 11 2012
Market Overview by FXCC July 11 2012
China the main focus, with thin eco data as the EUR remains under pressure
Wall Street shares traded with a negative bias as they reviewed Chinese international trade data that implied that the Chinese economy is slowing. Energy prices fell, with WTI crude for delivery in August closing just under USD 84 per barrel and the August natural gas was trading at USD 2.73. CAD while USDCAD closed above 1.02 while EURUSD also sold off, closing at 1.2250. Equities were lower, with the S&P 500 down by 0.75% after being down as much as 1.2%. The TSX closed down by a steeper 1% amidst the selloff in basic resources and oil and gas names. Bonds were fairly flat.
It was a thin day in terms of economic data, with Canadian housing starts the only event on the docket. Canadian housing starts came in quite strong at 222.7 (that’s a seasonally adjusted annualized rate – not the actual amount of housing starts). The skew was radically tilted towards ‘multis’, which accounted for the lion’s share of the housing starts and all of the growth. It should be a fairly quiet in terms of economic data releases. This is the week during which China releases its main economic indicators, and while there are no measures from the real side of the economy due to be released; there is a chance that the credit and money market metrics could come out
Read More
https://support.fxcc.com/email/technical/11072012/
UPCOMING EVENTS :
2012-07-11 12:30 GMT | US - Trade Balance (May)
2012-07-11 14:00 GMT | US - Wholesale Inventories (May)
2012-07-11 17:00 GMT | US - 10-Year Note Auction
2012-07-11 18:00 GMT | US - FOMC Minutes
FOREX NEWS :
2012-07-11 04:19 GMT | EUR/USD choppiness ahead of FOMC minutes
2012-07-11 03:49 GMT | Market smells disappointment from the BOJ - Nomura
2012-07-11 03:21 GMT | AUD/USD oscilates ahead of Aus jobs data
2012-07-11 02:22 GMT | EUR/GBP dips to fresh 3-1/2 year low under 0.7900
EURUSD : 1.22651 / 1.22652
DAILY WEEKLY MONTHLY
1.2412 | 1.2373 | 1.2314
1.2216 | 1.2177 | 1.2118
SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Overbought
MARKET ANALYSIS - Intraday Analysis
Technicals remain bearish with RSI at 32 indicates that decline has not yet reached oversold levels. The EUR continues to consolidated just above the recent lows and it seems it is preparing for the next leg lower and should bring us close to 1.2145. That bearish outlook is valid as long as the prices stay below the important 1.2345 Fibonacci level. Supports are seen at 1.2230, 1.2190 and then at 1.2151. Whereas resistance levels are seen at 1.2365, 1.2401 and then at the 10-DMA line at 1.2456.
---------------
GBPUSD : 1.55359 / 1.55369
DAILY WEEKLY MONTHLY
1.5621 | 1.5585 | 1.5550
1.5479 | 1.5443 | 1.5408
SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
Technicals continue to read bearish - consolidation seen around 1.5500, with limited range. The outlook remains bearish and expects weakness near 1.5260 Fibo level. On the upside, a break above 1.5550 will negate this view and will suggest larger recovery near 1.5620Supports are seen at 1.5470 and then at 1.5448. Whereas, resistance levels are seen at 1.5551 and then at the 10-DMA line at 1.5580, followed by the 21-DMA line at 1.5601.
---------------
USDJPY : 79.363 / 79.369
DAILY WEEKLY MONTHLY
79.915 | 79.745 | 79.550
79.190 | 79.020 | 78.825
SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Overbought
MARKET ANALYSIS - Intraday Analysis
Technicals are reading bearish as the uptrend appears to have stalled, look to support at 200 day MA 78.99. At present the pressure is on the downside though and there is a greater risk for a downside break. But until such a break is seen, it is more reasonable to assume that the current consolidation will remain intact. Although some kind of a recovery can be expected in the short term. Supports are seen at 79.22 and then at 78.97. Whereas, resistance levels are seen at 79.62 and then at 79.78.
Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)
Market Overview by FXCC July 12 2012
Market Overview by FXCC July 12 2012
Not much in the FOMC Minutes … BoJ decision today
Markets sold off following the release of the minutes from the FOMC’s June 19-20 meeting (i.e. the meeting at which the Fed extended and increased its maturity extension program or ‘Operation Twist’). The S&P 500 closed flat at 1340, the NASDAQ was lower by 0.5%, and the TSX closed marginally higher. Government bonds were essentially flat and while EURUSD briefly traded below 1.22 it closed trading near 1.2243, close to where it started today’s European trading session.
Crude rebounded strongly today: Brent closed above USD 100 per barrel and WTI closed above USD 86 after data released by the Energy Information Administration showed that US crude stockpiles were drawn down by 4.7m barrels during the week ended July 6 (vs. expectations for a draw in the 1.5m barrels neighborhood).
Read More
https://support.fxcc.com/email/technical/12072012/
UPCOMING EVENTS :
2012-07-12 08:00 GMT | EMU - ECB Monthly Report
2012-07-12 09:00 GMT | EMU - Industrial Production (May)
2012-07-12 12:30 GMT | US - Initial Jobless Claims (Jun)
2012-07-12 12:30 GMT | CAD - New Housing Price Index (May)
FOREX NEWS :
2012-07-12 04:33 GMT | GBP/USD consolidates around 1.5500
2012-07-12 04:29 GMT | EUR/USD quiet below 1.2250 amid a busy Asian session
2012-07-12 04:10 GMT | USD/JPY spikes after Y45t APP increase
2012-07-12 03:58 GMT | BoJ increases asset purchases 45 trillion yen
EURUSD : 1.22300 / 1.22304
DAILY WEEKLY MONTHLY
1.2372 | 1.2334 | 1.2289
1.2206 | 1.2168 | 1.2123
SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
Technicals remain bearish - expecting to test further lows as indicators are not yet bearish enough but continuing to consolidating below the key 1.2330 resistance, which should limit intraday upside attempts. Expect a break of the support here then a move initially to the support at 1.2216. A break of that targets the .50% Fibo at 1.2176 and then at 1.2135. Supports are seen at 1.2230, 1.2190 and then at 1.2132 where as resistance levels are seen at 1.2334 and then at 1.2401. Stochastic has just moved to oversold, giving a hint of what we might expect today, although MACD and RSI are centered in sell territory
---------------
GBPUSD : 1.54891 / 1.54900
DAILY WEEKLY MONTHLY
1.5654 | 1.5616 | 1.5563
1.5472 | 1.5434 | 1.5381
SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
Technicals continue to be mixed moving quickly towards bearish with congestion seen at current levels and resistance expected at 1.5600. The pair surpassed the 1.5550 resistance, but could not sustain. Our outlook remains bearish. Supports are seen at 1.5461 and then at 1.5445 whereas, resistance levels are seen at the 10-DMA line at 1.5582 and then at the 21-DMA line at 1.5601.
----------------
USDJPY : 79.488 / 79.491
DAILY WEEKLY MONTHLY
80.540 | 80.165 | 79.885
79.235 | 78.860 | 78.580
SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
Technicals are bearish with a continued decline expected in the near term, given a breach of 50 day MA 79.52. The pair is gradually pushing to the downside, approaching the awaited support level at 79.10. In general the longer term overall bullish setup remains intact, and therefore the long term outlook remains bullish. Supports are seen at 79.08, 78.94 and then at 78.79 whereas, resistance levels are seen at 79.78 and then at 80.02.
Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)
Market Overview by FXCC July 16 2012
Market Overview by FXCC July 16 2012
US to face huge eco data risks this week
Asian markets will be exceptionally quiet next week. Only a pair of central bank minutes are due out - one from the RBA on Monday and the other from the BoJ on Tuesday — and will be parsed for clues regarding recent and future expected policy actions in the wake of stimulus measures provided by both central banks.
European markets will be relatively more subdued in terms of risk influences upon markets in comparison to developments in the US. Italy is expected to approve the ESM apparatus and fiscal pact. US markets will face enormous risk on each of the corporate earnings, policy, and economic fundamentals calendars next week. Data risk will kick off the week with retail sales expected to come in largely flat on Monday.
Read More
https://support.fxcc.com/email/technical/16072012/
2012-07-16 09:00 GMT | EMU - Consumer Price Index (June)
2012-07-16 12:30 GMT | Canadian portfolio investment in foreign securities
2012-07-16 12:30 GMT | US - Retail Sales (Jun)
2012-07-16 14:00 GMT | US - Business Inventories (May)
2012-07-15 22:42 GMT | Market response to Bernanke could be savage - NAB
2012-07-15 22:22 GMT | AUD/USD quiet around 1.0250, eyes 0.618 Fibo resistance
2012-07-15 22:16 GMT | ECB views on bondholders losses makes a 'risk-off' turn
2012-07-15 22:02 GMT | China has 'relatively big' room to cut RRR - Xinhua
EURUSD : 1.22412 / 1.22417
DAILY WEEKLY MONTHLY
1.2293 : 1.2283 : 1.2265
1.2237 : 1.2227 : 1.2209
SUMMARY| Down
TREND| Down trend
MA10 | Bearish
MA20 | Bearish
STOCHASTIC | Oversold
MARKET ANALYSIS - Intraday Analysis
Technicals continue to read bearish, with a new 2-year low and all signals in sell territory. However, the RSI at 36 warns of EUR approaching oversold levels. Stochastic has crossed over into oversold territory, indicating that this pair could see an upward correction in the near future. The pair has reached its minimum in the last two years, having fallen from a peak of 1.2247 reaching its lowest level at 1.2165. If today the pair is able to break the key support at 1.2165, the next level is 1.2150, while breaking the 1.2250 resistance may postpone the attainment of these expectations. If it is successfully pushed back down then it could fall to the 1.2125; if, however, it breaks out higher than it would rally to 1.2300.
-------------
GBPUSD 1.55717 / 1.55727
DAILY WEEKLY MONTHLY
1.5639 : 1.5607 : 1.5590
1.5563 : 1.5526 : 1.5403
SUMMARY | Neutral
TREND | Up trend
MA10 | Bullish
MA20 | Bullish
STOCHASTIC | Neutral
MARKET ANALYSIS - Intraday Analysis
Technicals are neutral and confused after Friday's surges in prices expect a rally to the.382 Fibonacci at 1.5595 and then a move back to the S5 at 1.5400. A break up would target the 1.5700. Most long-term technical indicators place this pair in neutral territory, meaning that at present there is no defined trend. Most likely the pair will try to test support at 1.5570, while breaking the level of 1.5575 would delay the realization of these expectations.
--------------
USDJPY : 79.126 / 79.131
DAILY WEEKLY MONTHLY
79.735 : 79.435 : 79.270
79.035 : 78.845 : 78.655
SUMMARY | Down
TREND | Down trend
MA10 | Bearish
MA20 | Bearish
STOCHASTIC | Oversold
MARKET ANALYSIS - Intraday Analysis
Technicals are bearish - trading towards the lower end of recent range, with support at 200 day MA 79.03, Price is currently at 79.10 sitting right on the support line, just below the .500 Fibonacci at 79.17 in a sideways choppy move. A break of this will confirm the move to 79.00. A breakdown there looks for the double bottom at 77.67 but before we could see a move toward 78.80. While the daily chart's MACD/MA has formed a bearish cross, indicating that this pair could see downward movement in the near future, most other technical indicators show this pair range-trading. Just a reminder, Japanese markets are on holiday today.
Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)
Market Overview by FXCC July 17 2012
Market Overview by FXCC July 17 2012
Fed Chairman Bernanke begins his testimony before congress today.
Asian markets started off mixed today, after Wall Street tumbled over an unexpected fall in retail sales in June.The Nikkei opened 0.19 %, or 16.86 points, higher at 8,740.98 this morning, but soon dropped into negative territory. In Hong Kong, shares climbed 1.39 %. The Hang Seng Index added 266.29 points to 19,387.63. Investors will continue to be cautious before a slew of US high risk eco data, including June industrial output as well as Fed Chairman Ben Bernanke's two-day testimony in Congress due today.
Markets stressed over global growth worries after the International Monetary Fund on Monday trimmed its 2012 global growth forecast to 3.5 % from its 3.6 % forecast three months ago. US retail sales fell by 0.5 % last month, the Commerce Department reported. Most analysts estimated an increase 0.2 %. The Dow Jones fell 49.88 points (0.39 %), closing at 12,727.21. The US dollar spent the day on a rollercoaster; bring its trading partners up and down throughout the trading day, the euro dipped as low as 1.2167
Read More
https://support.fxcc.com/email/technical/17072012/
UPCOMING EVENTS :
2012-07-17 08:30 GMT UK - Consumer Price Index (Jun)
2012-07-17 09:00 GMT UK - BoE's Governor King Speech
2012-07-17 09:00 GMT EMU - ZEW Survey - Economic Sentiment (Jul)
2012-07-17 09:15 GMT All - G7 Meeting
FOREX NEWS :
2012-07-17 04:24 GMT GBP/USD trades at 2-wk highs, UK data ahead
2012-07-17 04:19 GMT EUR/USD around 1.2300 ahead of ZEW
2012-07-17 03:50 GMT Forecast UK CPI inflation to fall to 2.7% in June - RBS
2012-07-17 03:27 GMT EURJPY continues at risk; three month target at 94 - UBS
------------
EURUSD : 1.22843 / 1.22845
DAILY WEEKLY MONTHLY
1.2426 | 1.2358 | 1.2312
1.2244 | 1.2198 | 1.2130
SUMMARY : Down
TREND : Down trend
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
Long term technicals remain bearish, with all signals in sell territory. Prices rose to take out resistance at 1.2249 after breaking above key support at 1.2177, a level dating to 2010. The bulls now aim to challenge upside barriers at 1.2333 and 1.2433. Near term signals are all reading bullish. The 1.2249 level has been recast as near-term support. Back to our daily charts, RSI remains below 60 after tagging 30, showing maintenance of a bearish momentum. And we can see a negative reversal signal with the RSI where price high was lower, while the RSI high was higher. Supports are seen at 1.2162 and then at 1.2100 whereas resistance levels are seen at 1.2314 and then at 1.2330, which is the 10-DMA line.
-----------
GBPUSD : 1.56544 / 1.56554
DAILY WEEKLY MONTHLY
1.5816 | 1.5735 | 1.5680
1.5599 | 1.5544 | 1.5463
SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Overbought
MARKET ANALYSIS - Intraday Analysis
Technicals all support a bullish move today between the 9 & 21 day MA’s 1.5622 and 1.5689, respectively, The late strong rally has negated the bearish signals, however bias remains to the downside given the bearish bias of indicators. As for the key levels - there aren't any significant key levels now. The immediate intra-day bias is now on the upside above 1.5550. Break below 1.5500 may bring re-test on the last week's low near 1.5390. Supports are seen at 1.5518 and then at 1.5427 whereas resistance levels are seen at 1.5713 and then at 1.5734.
--------------
USDJPY : 78.922 / 78.928
DAILY WEEKLY MONTHLY
79.645 | 79.425 | 79.140
78.620 | 78.400 | 78.105
SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
Technicals remain bearish and the pair has breached of 200 day MA at 79.04 which should allow for further decline. As the pair broke the 79.00 level nothing significant has happened. The move down remains extremely choppy and the decline is so slow, that this can hardly be said to be a downtrend. A move above 79.10 will simply turn the hourly chart neutral. Supports are seen at 78.65/61 and then at 78.10 whereas resistance levels are seen at the 200-DMA line at 79.02 and then at 79.40.
Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)
Market Overview by FXCC July 18 2012
Market Overview by FXCC July 18 2012
Fed Bernanke Keeps Mum... no additional clues
Asian markets have started the day off mixed after US markets rebounded amid hopes for further monetary easing in the United States. The comeback was triggered after Federal Reserve Chief Ben Bernanke gave a gloomy assessment of the economy to Congress and said the Fed would act if the situation worsened, exactly as he had stated after the June FOMC meeting and as stated in the FOMC minutes. In New York, the Dow Jones Industrial Average closed at 12,805.54 on Tuesday, gaining 78.33 points (0.62 per cent) and more than erasing Monday's losses.
The Nikkei 225 index at the Tokyo Stock Exchange opened up 41.15 points at 8,796.15 this morning. The Hang Seng Index was off by 77.12 points, or 0.4 per cent, to 19,378.21in early trading. Market focus will shift back to the eurozone as we should see Spain and Italy back in the spotlight. Commodities and currencies ended pretty much where they had begun the day.
Read More
https://support.fxcc.com/email/technical/18072012/
UPCOMING EVENTS :
2012-07-18 08:30 GMT UK - Bank of England Minutes
2012-07-18 09:00 GMT EMU - Construction Output s.a (May)
2012-07-18 12:30 GMT US - Building Permits (Jun)
2012-07-18 14:00 GMT US - Fed's Bernanke testifies
FOREX NEWS :
2012-07-18 04:40 GMT NZD/USD may enter fresh 0.8005-0.8075 range soon
2012-07-18 04:29 GMT GBP/USD steady around 1.5650 ahead of BoE
2012-07-18 04:17 GMT EUR/USD failing to break above 1.2300
2012-07-18 04:11 GMT China House Price Index flat at -1.5% in Jun
-------------
EURUSD : 1.22836 / 1.22842
DAILY WEEKLY MONTHLY
1.2472 | 1.2394 | 1.2345
1.2218 | 1.2140 | 1.2091
SUMMARY : Down
TREND : Down trend
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
Technicals remain bearish, but a breach above last week’s high of 1.2336 could change the outlook. The EURUSD rally from 12161 is corrective which can often be a choppy, sideways affair. The initial stop is above 12440. This rally extended to above 1.23 by the today's Asian session. The 1.2320-1.2330 area is the resistance of a previous near-term consolidation. RSI in the four-hour chart is almost 60. If the market is to retain the bearish momentum in this time-frame, the RSI reading tends to find resistance at 60. The one-hour RSI is showing some bearish divergence. A break above 1.2330 exposes the 1.24 key resistance level.
------------------
GBPUSD : 1.56427 / 1.56434
DAILY WEEKLY MONTHLY
1.5834 | 1.5756 | 1.5710
1.5586 | 1.5508 | 1.5462
SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Overbought
MARKET ANALYSIS - Intraday Analysis
Technicals remain bullish with a shift to neutral with strong resistance at 50 day MA 1.5647 could limit further gain. The sterling rally has carried price into channel resistance. Resistance is reinforced by the low at 15641 and channel that defines the rally from 15392. The pair continued to struggle around SMA 50 but the bullish sign on Stochastic remains intact. Our outlook keeps the bullish scenario for the rest of the day; noting that a break above 1.5680 will confirm and accelerate the bullish direction towards 1.5780.
---------------
USDJPY : 78.993 / 78.999
DAILY WEEKLY MONTHLY
79.585 | 79.380 | 79.230
78.880 | 78.675 | 78.525
SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
Technicals remain mixed and are hovering close to key 200 day MA 79.05 and declines are limited below 78.80. The pair has reached the -2nd Bollinger band for the first time since early June. The pair has been trapped within a very narrow range since attempting to stabilize at the 79.00 levels. Meanwhile, RSI 14 continued to stabilize below the value of 50.00 suggesting further losses over intraday basis. 7890 is the important support line, if price breaks through we could see a decline to the wide support zones between 78.20 and 77.95. The current trading range is between the key support at 77.60 and key resistance at 80.30.
Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)
Market Overview by FXCC July 20 2012
Market Overview by FXCC July 20 2012
The USD is weakened by lackluster jobs data as earnings soar.
Asian stocks are trading mixed early this morning with gains in China and Japan whereas the Kospi and Hang Seng indices show slight declines. The euro has also given up its overnight gains as it trades below the 1.23$ mark. Weaker jobs data from the US has increased pressure for the world’s largest economy. European shares soared to a four month high on Thursday as another string of estimate-beating corporate results surprised investors who had braced for a weak show. U.S. Stocks closed higher for a third-straight session in choppy trading Thursday, with the S&P 500 hitting its best level since May, but gains were limited following some disappointing economic reports that underscored ongoing weakness in the recovery.
On the economic front, German PPI is to be closely watched. These are expected to come in higher at -0.20%, versus the -0.30% previously. This could provide affect support to the euro in the European session. There are no major data releases from the U.S. Crude oil and gold continued to climb in yesterday's session with tensions in the mid east rising pressurizing prices
Read More
https://support.fxcc.com/email/technical/20072012/
UPCOMING EVENTS :
2012-07-20 06:00 | GMT Germany - Producer Price Index (Jun)
2012-07-20 08:30 | GMT UK - Public Sector Net Borrowing (Jun)
2012-07-20 n/a | EMU - European Council meeting
2012-07-20 12:30 GMT | CAD - Consumer Price Index (Jun)
FOREX NEWS :
2012-07-20 04:26 GMT | EUR/USD waiting for Eurogroup below 1.2300
2012-07-20 02:35 GMT | USD/JPY at session lows, bear trend intact
2012-07-20 02:32 GMT | EUR/JPY at session lows below 96.50
2012-07-20 01:45 GMT | EUR/USD set to end week unchanged
---------------
EURUSD: 1.22628 / 1.22632
DAILY WEEKLY MONTHLY
1.2417 | 1.2370 | 1.2324
1.2231 | 1.2184 | 1.2138
SUMMARY : Down
TREND : Down trend
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Overbought
MARKET ANALYSIS - Intraday Analysis
The pair has worked out the Flag figure and declined to 1.21813. Despite the attempt above 1.2316, there is nothing about the action to suggest that this is an important turn. It’s possible that a high is already in place at 1.2316 but any additional strength should be capped by 1.2333. The pair managed to move above the middle resistance. It retested the level and is now trying to recapture 1.23. This upward move is probably a correction and the downtrend will resume toward 1.20. Support lies at 1.2210 and 1.2160.
--------------
GBPUSD : 1.57021 / 1.57026
DAILY WEEKLY MONTHLY
1.5856 | 1.5796 | 1.5756
1.5656 | 1.5596 | 1.5556
SUMMARY :Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Overbought
MARKET ANALYSIS - Intraday Analysis
Signals are bullish as near term resistance at the 50 day MA 1.5629 has been broken, the pair is aiming to the MA 100 at 1.57071. The technical pattern is being reinforced by resistance created by the 1.5740 June 17th high. Further barriers above are likely to compound the sentiment, at the 1.5750 figure. MACD is additionally supportive of a short term retracement, showing a sharp bearish divergence in the hourly time frame. Supports are seen at the 21-DMA line at 1.5585 and then at the 10-DMA line at 1.5563. On the other hand, resistance levels are seen at 1.5722 and then at 1.5731 which is the 21-DMA upper Bollinger level.
---------------
USDJPY: 78.614 / 78.619
DAILY WEEKLY MONTHLY
79.245 | 79.025 | 78.885
78.525 | 78.300 | 78.165
SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
Technicals remain bearish and the decline continues following breach of 200 day MA 79.07 but signals are moving to the overbought zone. The pair is completing a Head and Shoulders, the first aim was 79.070 which is has broken and the 2nd aim is at 78.345 to complete the move. It has breached temporary support from the lower channel line of the move down and it is possible it may rebound from here although there is not strong reversal pattern yet. A move above the 76.4% Fibonacci line at 79.02 would encourage an upward reaction.
Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)
Market Overview by FXCC July 23 2012
Market Overview by FXCC July 23 2012
Spain Weighs On Global Markets
US markets closed down after worries about Spain continued to flourish. After positive earnings reports all week, markets slumped on Friday. This morning Asian markets are tumbling following Wall Street's lead. Global markets are not in such a positive mood this Monday morning, and the catalysts behind this mood swing are fairly thin but rooted in intensifying concerns about funding pressures affecting stressed European sovereign credits and China’s persistent bias in favor of tight property lending conditions.
Currency markets are reinforcing the negative mood with almost all of the major crosses pushing lower against the USD except for the yen. The commodities complex is also correcting lower with oil and gold off and mixed performances being put in across the metals and agricultural commodities. Spain’s funding costs are getting are surging with the 10 year note back up above 7% at the time of writing.
Read More
https://support.fxcc.com/email/technical/23072012/
UPCOMING EVENTS :
2012-07-23 07:00 GMT | Switzerland - Monthly Statistical Bulletin (Jul)
2012-07-23 12:30 GMT | US - Chicago Fed National Activity Index (Jun)
2012-07-23 14:00 GMT | EMU - Consumer Confidence (Jul)
2012-07-24 02:30 GMT | China - HSBC Manufacturing PMI (Jul)
FOREX NEWS :
2012-07-23 04:42 GMT | GBP/USD down 0.3%, support at 1.5550
2012-07-23 04:22 GMT | EUR/USD trading at fresh 2-year lows above 1.2100
2012-07-23 03:54 GMT | GBP/JPY hits fresh 6-week low sub-122.00
2012-07-23 03:45 GMT | EUR/JPY drops below 95.00, MoF watching closely
----------
EURUSD : 1.20996 / 1.21001
DAILY WEEKLY MONTHLY
1.2216 | 1.2159 | 1.2136
1.2080 | 1.2026 | 1.1969
SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
Technicals are bearish- 1.22 is key psychological level to watch as movement declines from congestion near 1.2150. Price is currently holding at 1.2113, with strong resistance at 1.2100. Short term and long signals are all aligned with strong sell signals. Our outlook remains bearish. MA's are all in the red, Stochastic is reading sell and MACD and ADX support the bearish bias. The question is how far can the euro fall? 1.21 is going to be a difficult number to break through. There is a strong chance that the pair will be rangebound between the 1.21 to 1.22 level today.
----------------
GBPUSD : 1.55666 / 1.55672
DAILY WEEKLY MONTHLY
1.5694 | 1.5653 | 1.5616
1.5552 | 1.5515 | 1.5480
SUMMARY : Neutral
TREND : Up trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Overbought
MARKET ANALYSIS - Intraday Analysis
Technicals remain neutral - unable to breach 200 day MA 1.5751 suggests limited upside potential; with downside support is at 50 day MA 1.5622 which was shattered in early trading. The pair just fell right through the support line and continued to decline. This does not change our outlook for today, we remain neutral. Short term signals are reading bearish, but when we move out to near term and long term, signals are mixed and confused.
----------------
USDJPY : 78.067 / 78.069
DAILY WEEKLY MONTHLY
78.810 | 78.605 | 78.425
77.985 | 77.800 | 77.645
SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
Technicals are bearish with RSI at 38 indicates potential for continued decline. Congestion at 78.20 - 78.00 is likely, with significant support expected at 78.00. If the pair breach the 78.00 then a run to 77.15 is likely. Short term and long term are all in the red and our bias is bullish. The pair at this writing is close to the 78.15 mark, keep an eye on the 78.00, it will tell the story.
Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)
Market Overview by FXCC July 24 2012
Market Overview by FXCC July 24 2012
Eurozone problems finally come to rest in Germany.
As if the markets could not take one more blow, yesterday, Moody's Investor Service took the first step toward stripping Germany of its coveted AAA credit rating, cutting the outlook for Europe's largest and most pivotal economy to "negative".Delivering a stark warning on Monday that no one is immune from the eurozone's rolling crisis, the ratings agency lowered Germany's credit outlook from "stable" to "negative". A similar move was announced for fellow AAA ranked economies, the Netherlands and Luxembourg. US stocks have skidded amid a global sell-off on renewed eurozone sovereign debt concerns that Spain was headed for a bailout and Greece could exit the eurozone. Spain's borrowing costs on Monday struck highs considered unsustainable, sparking fears that the eurozone's fourth-largest economy may require a bailout.
The Dow Jones Industrial Average recovered from a loss of over 200 points to close at 12,721.46, down 101.11 points, or 0.79 per cent, putting in a second straight day in negative territory. Asian equities this morning have opened down, but seem to be on hold as investors digest yesterday's Wall Street action and try to interpret the Moody's downgrade.
Read More
https://support.fxcc.com/email/technical/24072012/
UPCOMING EVENTS :
2012-07-24 07:58 GMT | EMU - Markit Manufacturing PMI (Jul)
2012-07-24 08:30 GMT | UK - BBA Mortgage Approvals (Jun)
2012-07-24 12:30 GMT | CANADA - Retail Sales (May)
2012-07-24 12:58 GMT | US - Markit Manufacturing PMI (Jul)
FOREX NEWS :
2012-07-24 04:59 GMT | Yen poised to outperform in general - BBH
2012-07-24 04:30 GMT | EUR/USD below 1.2150 ahead of Spanish auction
2012-07-24 04:21 GMT | GBP/USD stagnant above 1.55 ahead of Europe
2012-07-24 03:25 GMT | AUD/USD, 1.03 proves tough; RBA speech underway
------------------
EURUSD : 1.21226 / 1.21232
DAILY WEEKLY MONTHLY
1.2233 | 1.2189 | 1.2156
1.2079 | 1.2035 | 1.2002
SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
Technicals are bearish, all signals point same direction; RSI at 31 still has some downside room. But we see a choppy sideways rally from the 1.2160 area to the 1.2320 area. The euro's strong downtrend continues to be in place as the prices have remained firmly below the declining 21-day moving average. Below 1.2145 we have the next Fibonacci level at 1.1820 and this is now the next downside target. Supports are seen at the 21-DMA lower Bollinger line 1.2055, followed by 1.1985 and 1.1957 with resistance levels at the 10-DMA line at 1.2231 and then at 1.2282.
--------------
GBPUSD : 1.55254 / 1.55262
DAILY WEEKLY MONTHLY
1.5715 | 1.5663 | 1.5590
1.5465 | 1.5416 | 1.5340
SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Overbought
MARKET ANALYSIS - Intraday Analysis
Technicals remain bearish breaching support at 50 day MA 1.5540 leaves 1.5450 as next important level for support; bullish MACD stands in contrast to other bearish indicators. The daily trend remains sideways but our outlook continues to point lower. A move below 1.5390 will virtually confirm the bearish bias and should lead to the long-anticipated downside acceleration toward 1.35 eventually. Supports are seen at 1.5414, 1.5393 and then at 1.5375, with resistance levels at the 55-DMA line at 1.5654 and then at 1.5738.
---------------
USDJPY : 78.323 / 78.328
DAILY WEEKLY MONTHLY
79.055 | 78.765 | 78.530
78.000 | 77.710 | 77.475
SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
Technicals remain bearish flirting with 78.00, RSI approaches 30; support at June low of 77.66 The USD fell below our stop level at 78.61, which proved to be inadequate. In the short term the immediate pressure is on the downside, but the larger-degree trend is sideways. The downside will likely be limited and a move below 76.00 will not occur at this stage. On the upside, we need a firm and sustained break above 80.60 any major shift.
Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)