Update - Daily Technical Levels from FXCC - page 28
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Market Overview by FXCC Aug 14 2012
Market Overview by FXCC Aug 14 2012
BoJ minutes: members continue to pursue powerful easing
Minutes of the Monetary Policy Meeting in Japan on July 11 and 12 have been published, without any significant surprise. Comparing the forecasts in the April 2012 Outlook for Economic Activity and Prices, BoJ minutes reads: "Growth prospects will likely remain broadly unchanged. With regard to prices, the year-on-year rate of change in the domestic corporate goods price index will likely be somewhat lower for fiscal 2012 but broadly in line with the April forecasts for fiscal 2013. The year-on-year rate of change in the CPI (all items less fresh food) is expected to be broadly in line with the April forecasts."
London session ahead will be a busy one in terms of EUR macro data related, with main risk event for the European morning in the form of German ZEW economic sentiment at 09:00 GMT. But earlier will come French prelim 2Q GDP and CPI m/m, followed by German prelim 2Q GDP at 06:00 GMT, French jobs data 45 minutes later, EUR flash GDP at same time than ZEW, and EU industrial production. Following US session will bring more key figures like US PPI and retail sales at 12:30 GMT which usually move markets. In the GBP front the UK will publish its CPI numbers on yearly basis at 08:30 GMT, which could bring volatility to EUR/GBP cross. In the EZ sovereign debt auctions arena Greece will try to sell up to € 3.125 B worth in 13 week bills. (fxstreet.com)
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UPCOMING EVENTS :
2012-08-14 08:30 GMT | United Kingdom. Consumer Price Index (YoY) (Jul)
2012-08-14 09:00 GMT | E.M.U. Gross Domestic Product (Q2). Preliminar
2012-08-14 09:00 GMT | Germany. ZEW Survey - Economic Sentiment (Aug)
2012-08-14 12:30 GMT | United States. Retail Sales (MoM) (Jul)
FOREX NEWS :
2012-08-14 04:31 GMT | GBP/USD within 20-pip range below 1.5700
2012-08-14 03:35 GMT | AUD/NZD respecting resistance at 1.3050
2012-08-14 01:16 GMT | AUD/CAD main risk geared to the downside
2012-08-13 23:59 GMT | AUD/USD set for deeper correction?
EURUSD : 1.23567 / 1.23570
DAILY WEEKLY MONTHLY
1.2513 | 1.2444 | 1.2376
1.2310 | 1.2240 | 1.2164
SUMMARY : Up
TREND : Upward penetration
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Overbought
MARKET ANALYSIS - Intraday Analysis
Germany Economic Sentiment release and E.M.U GDP release at 09:00 GMT in focus today as major market drivers. We suggest next resistance level for today at 1.2376 (R1), yesterday high. Rise above it might lead to the trend development with next targets at 1.2444 (R2). Further appreciation is possible in case of successful clearance here, last suggested target at 1.2513 (R3). Downside direction is limited by next support level at 1.2310 (S1), loss of which will lead to the next target at 1.2240 (S2). Brake here would enable last support level at 1.2164 (S3) as final target for today.
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GBPUSD : 1.56905 / 1.56912
DAILY WEEKLY MONTHLY
1.5805 | 1.5762 | 1.5718
1.5672 | 1.5625 | 1.5577
SUMMARY : Up
TREND : Sideway
MA10 : Bearish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Consumer Price index release at 08:30 GMT might provide us with the market sentiment for the remaining of the day. Essential resistance for today holds at 1.5718 (R1), yesterday fresh high. Rising up above this level might be a signal for uptrend development with next targets at 1.5762 (R2) and 1.5805 (R3). On the other point, if the market manage to brake next support level at 1.5672 (S1), next implied targets would be at 1.5625 (S2) and 1.5577 (S3).
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USDJPY : 78.450 / 78.455
DAILY WEEKLY MONTHLY
78.79 | 78.65 | 78.49
78.35 | 78.16 | 77.99
SUMMARY : Sideway
TREND : Upward penetration
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Overbought
MARKET ANALYSIS - Intraday Analysis
Today pair appreciates by 0.15% at the current moment. From the technical side, next resistance level lie at 78.49 (R1), clearance here might provide potential to go higher. Next expected target would be at 78.65 (R2), any further gains would be limited by last resistance for today at 78.79 (R3), psychological level. Risk of price depreciation is seen below next support at 78.35 (S1). Price progress below it might expose next target at 78.16 (S2). Brake here is required to put in focus last support level at 77.99 (S3) as intraday final target
Source: FX Central Clearing Ltd,( Best Forex Broker | ECN Online Forex Trading | Forex Signal | FXCC )
Market Overview by FXCC Aug 15 2012
Market Overview by FXCC Aug 15 2012
EUR little moved with half Europe closed on holidays
EUR/USD has just had another quiet and slow Asia-Pacific trading session, last at 1.2323, slightly above opening and session lows price at 1.23156, and below session highs at 1.2332, thus counting for a 16 pip range trading session. Nothing too exciting. The pair comes from a weekly high yesterday at 1.2385 following better than expected German prelim GDP, and holding above yesterday's lows and support at 1.2320. Local share markets are over all in the red, with Nikkei index below the 8900 points down -0.60%.
London session ahead will have to deal with half Europe closed on holidays, and no EUR macro data related at all, not even EZ sovereign debt auctions, and only UK unemployment figures coming out due at 08:30 GMT, which could bring volatility to the EUR/GBP cross. According to VIX, index that measures volatility in SP500 index put options, it is reading at a 5 year lows, which in some way shows how these markets are lacking movement as of late. European futures point to a lower open, according to Bloomberg. (fxstreet.com
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UPCOMING EVENTS :
2012-08-15 08:30 GMT | United Kingdom. Bank of England Minutes
2012-08-15 12:30 GMT | United States. Consumer Price Index (Jul)
2012.08.15 13:15 GMT | United States. Industrial Production (Jul)
2012.08.15 14:30 GMT | United States. EIA Crude Oil Stocks change (Aug 10)
FOREX NEWS :
2012-08-15 04:37 GMT | GBP/USD investors await further cues, BoE eyed
2012-08-15 03:56 GMT | GBP/AUD erases all Aug losses back above 1.49
2012-08-15 03:51 GMT | GBP/JPY consolidating after overnight gains
2012-08-15 02:07 GMT | WSJ story adds pressure on Aussie longs
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EURUSD : 1.23303 / 1.23307
DAILY WEEKLY MONTHLY
1.2445 | 1.2405 | 1.2385
1.2310 | 1.2295 | 1.2270
SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
United States Consumer Price Index release at 08:30 GMT is the next macroeconomic data in focus. Next resistance level holds at 1.2385 (R1) level. Clearance here is required for instrument strengthening, next expected target at 1.2405 (R2). Further price appreciation would then be limited by last resistance level for today at 1.2445 (R3). On the other hand, possible price decline might arise below the next support level at 1.2310 (S1). We suggest next target at 1.2295 (S2), successful brake here would enable next target for today at 1.2270 (S3).
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GBPUSD : 1.56746 / 1.56752
DAILY WEEKLY MONTHLY
1.5805 | 1.5765 | 1.5725
1.5600 | 1.5570 | 1.5535
SUMMARY :
TREND : Up trend
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
Bank of England minutes at 08:30 GMT might bring additional volatility to the markets. Our next resistance level locates today at 1.5725 (R1). Break above that level would suggest target at 1.5765 (R2), technical level for the Bulls. Rise above it will then focus on 1.5805 (R3), last resistance level. For the downside development, fall below next support level at 1.5600 (S1) would open way for the next expected target at 1.5570 (S2). Further easing might face final support at 1.5535 (S3) level.
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USDJPY : 78.793 / 78.798
DAILY WEEKLY MONTHLY
79.39 | 79.05 | 78.90
78.35 | 78.16 | 77.99
SUMMARY :
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Overbought
MARKET ANALYSIS - Intraday Analysis
USDJPY remains to be traded in a range mode. Possible trend development is seen above next resistance level at 78.90 (R1). Break here is required to open way for further appreciation with next targets at 79.05 (R2) and 79.39 (R3) in extension. On the other hand, price decline towards to our support levels at 78.35 (S1) could trigger further Bearish pressure targeting our next support level at 78.16 (S2). A break below it would suggest last target for today at 77.99 (S3).
Source: FX Central Clearing Ltd, ( ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC )
Market Overview by FXCC Aug 16 2012
Market Overview by FXCC Aug 16 2012
Late 2012/early 2013 best guess for next QE3 - Goldman Sachs
Goldman Sachs chief economist Jan Hatzius recent note to clients warns of the increasing possibility of further delays on the Fed communicating the next easing package to the market. "While QE3 at the September 12-13 FOMC meeting remains possible, our best estimate is that it will take until late 2012/early 2013 before Fed officials return to balance sheet expansion."
London session ahead will be another one again with almost no EUR macro data related to be released, but EU CPI figures at 09:00 GMT as most critical, while in the EZ sovereign debt auctions front there was a Spanish one that has been canceled. Risk premium between Germany and Spain fell yesterday to a several days low around the 500bps, with German yields rising as risk sentiment is improving, and Spanish 10y yields remaining range-bound below the key 7%. Much worse FDI figures today coming from China showing a decrease in -8.7% in Foreign Direct Investment (YoY) (Jul) have been helping the recent rise in USD. (fxstreet.com)
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UPCOMING EVENTS :
2012-08-16 08:30 GMT | United Kingdom. Retail Sales (YoY) (Jul)
2012-08-16 09:00 GMT | E.M.U. Consumer Price Index (YoY) (Jul)
2012-08-16 12:00 GMT | United States. Building Permits (MoM) (Jul)
2012-08-16 14:00 GMT | United States. Philadelphia Fed Manufacturing Survey (Aug)
FOREX NEWS :
2012-08-16 04:33 GMT | GBP/USD range bound, UK Retail Sales on offer
2012-08-16 03:59 GMT | AUD/USD top heavy, still above 21-day EMA
2012-08-16 03:51 GMT | AUD/NZD ranging above 1.3000
2012-08-16 03:06 GMT | GBP/JPY aiming toward key Fibo resistance
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EURUSD : 1.22709 / 1.22714
DAILY WEEKLY MONTHLY
1.2373 | 1.2344 | 1.2310
1.2263 | 1.2224 | 1.2183
SUMMARY : Up
TREND : Sideway
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Yesterday instrument dropped below our suggested support level at 1.2310 and met our target at 1.2270. Instrument stabilized on the Asian session and we expect further decrease later on today as major scenario, however clearance of next resistance level at 1.2310 (R1) would open road to the next targets at 1.2344 (R2) and 1.2373 (R3). Our next support level at locates at 1.2263 (S1), technically important level (Yesterday low). Loss here might encourage executing of orders and drive market price towards to the next targets at 1.2224 (S2) and 1.2183 (S3) levels.
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GBPUSD : 1.56421 / 1.56424
DAILY WEEKLY MONTHLY
1.5778 | 1.5740 | 1.5703
1.5659 | 1.5623 | 1.5583
SUMMARY : Sideway
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
GBPUSD continue its sideways movements. We suggest waiting for a clear signal of directional movement. Next important technical resistance stay at 1.5703 (R1), brake here is required for market expansion towards to next target at 1.5740 (R2) and any further increase would be limited by final resistance at 1.5778 (R3). Failure to go higher might push markets to retest previous day low at 1.5659 (S1), which is currently our next support level. Brake here would suggest next target at 1.5623 (S2) and any further fall would then be limited by last support at 1.5583 (S3).
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USDJPY : 79.282 / 79.286
DAILY WEEKLY MONTHLY
79.84 | 79.64 | 79.45
79.05 | 78.85 | 78.63
SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Overbought
MARKET ANALYSIS - Intraday Analysis
On the Asian session we saw significant volatility increase and market provide us with a clear signal of uptrend development. Currently USDJPY gained +0.46 % and we expect further appreciation towards to our next resistance levels at 79.45 (R1) and 79.64 (R2) later on today. Intraday price increase looks limited by last resistance level at 79.84 (R3). Development of the correction is possible from current levels. Next support level locates at 79.05 (S1), brake here would suggest next targets at 78.85 (S2) and 78.63 (S3) in potential.
Source: FX Central Clearing Ltd,( Forex Calculator | ECN Forex Training | Forex Demo Account | FXCC )
Market Overview by FXCC Aug 17 2012
Market Overview by FXCC Aug 17 2012
Antipodean intervention highly unlikely - ANZ
Direct currency intervention is highly unlikely in Australia or New Zealand in the near term, according to Richard Yetsenga, Andrew Salter & David Croy, strategist at ANZ. "Neither currency is sufficiently over-valued, and it seems unlikely that intervention would be effective." More broadly, "we may be in the early stages of a secular shift in the mix of monetary conditions, involving the combination of stronger currencies and lower interest rates" the team adds.
London session ahead will bring a soft agenda again in EUR macro related terms, starting with Germany PPI at 06:00 GMT, followed by EU current account 2 hours later, and EU trade balance at 09:30 GMT, and no sovereign EZ debt auction on sight for this Friday, as usual for Fridays, with Spanish yields falling while Germany ones rising, thus narrowing their risk premium. Even though session promises to be a quiet one, given current low liquidity conditions, and Spanish gov council meeting today, this could bring some surprising headlines around causing some wide moves. (fxstreet.com)
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UPCOMING EVENTS :
2012-08-17 06:00 GMT | Germany. Producer Price Index (YoY) (Jul)
2012-08-17 09:00 GMT | E.M.U. Trade Balance(Jun)
2012-08-17 12:30 GMT | Canada. Consumer Price Index (YoY) (Jul)
2012-08-17 13:55 GMT | United States. Michigan Consumer Sentiment Index (Aug)
FOREX NEWS :
2012-08-17 04:35 GMT | EUR/USD holding around Fib 1.2340
2012-08-17 04:34 GMT | GBP/USD top-heavy in late Asia
2012-08-17 03:38 GMT | AUD/JPY consolidates below 83.50
2012-08-17 03:19 GMT | AUD/USD drops to session lows, manages to stay around 1.0500
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EURUSD : 1.23550 / 1.23551
DAILY WEEKLY MONTHLY
1.2430 | 1.2401 | 1.2373
1.2330 | 1.2298 | 1.2264
SUMMARY : Up
TREND : Sideway
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Yesterday, EURUSD hit our support level at 1.2263 but did not manage to stabilize below it and reversed above our resistance level at 1.2310. Our suggested target was met at 1.2344 successfully. Next resistance level and target for yesterday remain at 1.2373 (R1). Rise above it might lead to the further trend development with next targets at 1.2401 (R2) and 1.2430 (R3) in potential today. Downside direction is limited by next support level at 1.2330 (S1), price decrease below it would be targeting next support at 1.2298 (S2). Brake here would suggest last support level at 1.2264 (S3) as final target for today.
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GBPUSD : 1.57120 / 1.57128
DAILY WEEKLY MONTHLY
1.5815 | 1.5778 | 1.5740
1.5687 | 1.5653 | 1.5617
SUMMARY : Up
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Overbought
MARKET ANALYSIS - Intraday Analysis
GBPUSD maintained correction by penetrating below our suggested support level at 1.5659 yesterday. After that pair continued moving upwards above our suggested resistance level at 1.5703 and reached our target at 1.5740. Next resistance for today holds at the same level - 1.5740 (R1). Rising up above this level might suggest next targets at 1.5778 (R2) and 1.5815 (R3) in potential. On the other point, if the market manage to brake next support level at 1.5687 (S1), we might see pull back development with possible targets at 1.5653 (S2) and 1.5617 (S3).
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USDJPY : 79.372 / 79.376
DAILY WEEKLY MONTHLY
79.83 | 79.63 | 79.45
79.23 | 79.05 | 78.85
SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Pair moved upwards but did not manage to hit any of our resistance levels. Our resistance levels remain the same as yesterday. Next resistance level lie at 79.45 (R1), clearance here might provide potential to go higher. Next expected target would be at 79.63 (R2) and any further gains would then be limited by last resistance at 79.83 (R3). Risk of price depreciation is seen below next support at 79.23 (S1). Price progress below it might expose next target at 79.05 (S2). Brake here is required to put in focus last support level at 78.85 (S3) as intraday final target.
Source: FX Central Clearing Ltd,( Forex Blog | Forex Market Hours | ECN Automated Forex Trading] | FXCC )
Market Overview by FXCC Aug 21 2012
Market Overview by FXCC Aug 20 2012
Market sentiment set for September boost – Wells Fargo
With global equities up 11% from their June trough and while market volatility is at multi-year lows, Wells Fargo has noted a cautiously positive tone in FX in recent weeks: “Looking ahead, we expect European events to evolve favorably overall in September, which could further boost market sentiment,” says Wells Fargo in a research note. “Against this backdrop, the euro could see a further corrective rally towards $1.2750 and perhaps even $1.3000. For commodity and emerging currencies, we see the Canadian dollar, Mexican peso and Singapore dollar as candidates for currency appreciation.”
In another typical summer holiday session in Europe, the London session ahead will bring a blank economic agenda with no major risk events EUR related. In the sovereign debt auctions front Spain will focus the attention selling up to € 4.5B in 12-18 month bills, while its 10 year yields hit a new 7-week lows at 6.16% yesterday and the risk premium with Germany below the 500 bps. Headlines will keep driving market action on constant speculation about the future of the euro crisis. Starting tomorrow, several key meetings will take place among EZ leaders to deal on current situation.
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UPCOMING EVENTS :
2012-08-21 08:30 GMT | United Kingdom. Public Sector Net Borrowing (Jul)
2012-08-21 10:00 GMT | United Kingdom. CBI Industrial Trends Survey - Orders (MoM) (Aug)
2012-08-21 17:00 GMT | Canada. BoC Governor Council Member Cote Speaks
2012-08-21 23:50 GMT | Japan. Merchandise Trade Balance Total (Jul)
FOREX NEWS :
2012-08-21 04:28 GMT | GBP/USD aiming higher, UK public finances eyed
2012-08-21 04:24 GMT | EUR/USD stretching around 1.2350
2012-08-21 02:05 GMT | EUR/AUD dips to session lows post-RBA
2012-08-21 01:53 GMT | AUD/NZD headed lower in a 6-9 month time horizon - BNZ
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EURUSD : 1.23592 / 1.23597
DAILY WEEKLY MONTHLY
1.2408 | 1.2389 | 1.2369
1.2341 | 1.2321 | 1.2301
SUMMARY : Sideway
TREND : Upward penetration
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Overbought
MARKET ANALYSIS - Intraday Analysis
EURUSD moved without priority in direction yesterday’s trading session. Currently pair is stabilized above our suggested resistance level at 1.2354. Today we are not expecting significant volatility increase on the markets however break above next resistance level at 1.2369 (R1) would suggest next target at 1.2389 (R2). If the price holds its momentum on the upside we can expect a further rise towards to 1.2408 (R3). On the other hand, loss of next support at 1.2341 (S1) might lead to the further correction development and expose targets at 1.2321 (S2) and 1.2301 (S3) levels.
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GBPUSD : 1.57260 / 1.57265
DAILY WEEKLY MONTHLY
1.5802 | 1.5775 | 1.5744
1.5702 | 1.5672 | 1.5643
SUMMARY : Sideway
TREND : Upward penetration
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Overbought
MARKET ANALYSIS - Intraday Analysis
GBPUSD successfully penetrated above our expected resistance level at 1.5714 and now is moving toward to our next technically important resistance level at 1.5744 (R1). Clearance here would suggest next target at 1.5775 (R2), and any further rise would then be limited by last resistance at 1.5802 (R3) intraday. From the other side, loss of next support level at 1.5702 (S1) might encourage executing of orders and drive market price towards to the next target at 1.5672 (S2). Brake here is required to put in focus final support level at 1.5643 (S3) levels.
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USDJPY : 79.299 / 79.304
DAILY WEEKLY MONTHLY
79.86 | 79.66 | 79.48
79.17 | 78.98 | 78.78
SUMMARY : Up
TREND : Downward penetration
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
As expected yesterday, USDJPY continued its correction development and declined below our suggested support level at 79.37. Currently instrument is targeting our next support level at 79.17 (S1). Brake here would suggest next target at 78.98 (S2) and any further fall would then be limited by last support at 78.78 (S3). From the upper side, next resistance level locates at 79.48 (R1), rise above it would enable next target at 79.66 (R2), technically important level for the market sentiment change. Brake he might lead to the further uptrend development with expected target at 79.86 (R3).
Source: FX Central Clearing Ltd, ( Forex Strategy | ECN Forex Trading Systems | Forex Exchange Rates | FXCC )
Market Overview by FXCC Aug 22 2012
Market Overview by FXCC Aug 22 2012
Forget AUD intervention; RBA rate cuts far more likely - UBS
AUDUSD failed to have a close above 1.05 on Tuesday, with today's price action printing steady declines since the opening of the Australian market. Yesterday, the RBA signaled that remains in a wait-and-see mode as the effects of previous rate cuts continue to percolate through the economy. According to UBS strategist Chris Walker, "attention now shifts to Governor Stevens' semi-annual parliamentary testimony on August 24, especially in the wake of the Treasury's comments last week highlighting the strength of the currency." UBS very much doubt the RBA is poised to intervene in the currency markets, and "if the tightening impact of a strong currency eventually becomes too severe, the bank is far more likely to respond with rate cuts rather than a round of FX intervention" Chris adds.
For second day in a row no major EUR macro data related will be released during London session hours, leaving main risk events for the NY session ahead, starting with US new home sales at 14:00 GMT followed by FOMC minutes at 18:00 GMT. In the sovereign debt auctions front Germany will sell up to € 5B in 2 year federal notes at 06:00 GMT, while Spain had a good auction yesterday and its 10 year yields are down for 10th consecutive day around 6.2%, and risk premium with Germany below the 500bps.
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2012-08-22 12:30 GMT | Canada. Retail Sales (MoM) (Jun)
2012-08-22 14:00 GMT | United States. Existing Home Sales (MoM) (Jul)
2012-08-22 15:00 GMT | Canada. BoC Governor Mark Carney Speech
2012-08-22 18:00 GMT | United States. FOMC Minutes
2012-08-22 04:38 GMT | GBP/USD: sideways above 200 EMA
2012-08-22 03:48 GMT | EUR/JPY consolidates below 100-day EMA
2012-08-22 03:24 GMT | GBP/AUD should press higher in coming weeks - Westpac
2012-08-22 02:20 GMT | EUR/AUD extends above key Fibo resistance
EURUSD : 1.24679 / 1.24684
DAILY WEEKLY MONTHLY
1.2559 | 1.2524 | 1.2488
1.2447 | 1.2415 | 1.2383
SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Yesterday we saw significant volatility increase. EURUSD broke up our resistance level at 1.2369 and reached our final target at 1.2408. Technically, market sentiment is “Bullish” now and we expect further instrument appreciation on the medium term perspective. Further price increase is expected above the next resistance level at 1.2488 (R1). Brake here is required to enable next targets at 1.2524 (R2) and 1.2559 (R3). On the other hand, consolidation looks reasonable today. Price progress below the next support level at 1.2447 (S1) might expose next targets at 1.2415 (S2) and 1.2383 (S3) in potential.
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GBPUSD : 1.57889 / 1.57898
DAILY WEEKLY MONTHLY
1.5855 | 1.5830 | 1.5804
1.5765 | 1.5740 | 1.5717
SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
GBPUSD appreciated yesterday above the expected resistance level at 1.5744 and met our last suggested target at 1.5802. Next resistance level ahead locates at 1.5804 (R1), brake here is required to enable next target at 1.5830 (R2) and any further rise would then be limited to 1.5855 (R3). However development of the price retracement is reasonable today. Instrument depreciation below the next support level at 1.5765 (S1) might expose next targets at 1.5740 (S2) and 1.5717 (S3) in potential.
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USDJPY : 79.273 / 79.277
DAILY WEEKLY MONTHLY
79.86 | 79.66 | 79.48
79.17 | 78.98 | 78.78
SUMMARY : Up trend
TREND : Sideway
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
USDJPY hit our resistance level at 79.48 and continued moving lower. All supports and resistance levels remain the same as yesterday. If the market manage to climb above our next resistance level at 79.48 (R1), we expect next target to be achieved at 79.66 (R2) and any further rise would then be targeting to 79.86 (R3). Clear brake below the 79.17 (S1) would enable next target at 78.98 (S2). Successful clearance here is required to put in pocus final support level at 78.78 (S3), intraday.
Source: FX Central Clearing Ltd, ( ECN Forex Indicators | Learn Forex | Trade Forex | FXCC )
Market Overview by FXCC Aug 23 2012
Market Overview by FXCC Aug 23 2012
FOMC minutes more dovish than statement suggested - Nomura
The clearest conclusion from the Minutes, according to Nomura economist, is that "the committee appears poised to extend its interest rate guidance at the next meeting, while also suggesting the Committee is closer to implementing another round of LSAPs than was apparent before." It isn't clear, however, how the Committee will interpret the recent improvement in economic data, says Nomura: "The recent increase in payroll employment and retail sales were released after the meeting; if the Committee is likely to initiate a new round of LSAP at their meeting in September Chairman Bernanke may signal that intent in his remarks at the Jackson Hole Symposium on Friday, August 31."
London session ahead will bring again plenty of minor EUR data related after few days lacking of it, starting with German final GDP at 06:00 GMT, followed by flash French PMI 58 minutes later, German flash PMI 30 minutes after, and EU PMI another 30 minutes later. For the late part of London session and early NY will come US initial jobs claims at 12:30 GMT and US new home sales at 14:00 GMT.
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UPCOMING EVENTS :
2012-08-23 07:58 GMT | E.M.U. Markit Manufacturing PMI (Aug). Preliminar
2012-08-23 12:30 GMT | United States. Initial Jobless Claims (Aug)
2012-08-23 14:00 GMT | United States. New Home Sales (MoM) (Jul)
2012-08-23 22:45 GMT | New Zealand. Trade Balance (YoY) (Jul)
FOREX NEWS :
2012-08-23 04:33 GMT | GBP/USD steady around 1.59, EU data eyed
2012-08-23 02:40 GMT | China: Flash PMI drops to 47.8 in August
2012-08-23 01:58 GMT | NZD/USD maintains bullish profile
2012-08-23 00:24 GMT | USD/JPY consolidating losses above 78.50
EURUSD : 1.25388 / 1.25391
DAILY WEEKLY MONTHLY
1.2628 | 1.2594 | 1.2559
1.2520 | 1.2486 | 1.2448
SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
EURUSD dropped below the suggested support levels at 1.2447 yesterday but did not manage to stabilize below it and reversed. Currently pair is moving towards to our target at 1.2559 (R1). Clearance here would suggest next targets at 1.2594 (R2) and 1.2628 (R3). The downside trend evolvement is limited by next support level at 1.2520 (S1), surpassing of which might lead to the next targets at 1.2486 (S2) and 1.2448 (S3). EMU Manufacturing PMI (August) at 07:58 is the next macroeconomic data release in focus.
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GBPUSD : 1.58944 / 1.58953
DAILY WEEKLY MONTHLY
1.6010 | 1.5972 | 1.5935
1.5874 | 1.5838 | 1.5805
SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
GBPUSD moved above the expected resistance level at 1.5804 and reached our final target at 1.5885 yesterday. A further increase will then bring focus to the next resistance levels at 1.5935 (R1) and 1.5972 (R2). Final resistance can be found at 1.6010 (R3) level. Likely we might see retracement development later on today. Next support level holds at 1.5874 (S1). A break below that level would suggest next target at 1.5838 (S2), further fall would then focus on the last target for today at 1.5805 (S3).
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USDJPY : 78.568 / 78.574
DAILY WEEKLY MONTHLY
79.13 | 78.93 | 78.73
78.29 | 78.10 | 77.91
SUMMARY : Down
TREND : Downward penetration
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
USDJPY gained momentum yesterday and reached our final target at 78.78. Technically, picture is not clear. Instrument almost recovers all previous week gains and formed fresh low yesterday at 78.29 (S1). Brake here might provide sufficient momentum and expose targets at 78.10 (S2) and 77.91 (S3) in potential. On the other side, further appreciation is expected above the next resistance level at 78.73 (R1) with next suggested targets at 78.93 (R2) and 79.13 (R3).
Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)
Market Overview by FXCC Aug 24 2012
Market Overview by FXCC Aug 24 2012
Likelihood BOJ forced to ease remains high - Nomura
Following the deterioration in the Japanese trade balance in July, Nomura research team expects that while Japanese exports should recover going forward, the recent export weakness has one direct JPY negative implication. According to the bank, it puts further pressure on the BOJ to ease monetary policy again this year. "While US economic data are now suggesting a better near-term outlook, we think the likelihood of the BOJ being forced to ease remains high for the time being" the team notes.
Again London session ahead will show no EUR macro data related risk events on the agenda, with focus on Greek-EZ leaders meetings going on, today with Greek PM Samaras visiting German PM Merkel, and also on Spain possibly asking for the bailout as soon as mid Sept according to sources, with its risk premium back above the 500bps for German 10y yields. As usually for Fridays, no EZ sovereign debt auctions will take place today.
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UPCOMING EVENTS :
2012-08-24 07:45 GMT | Japan. BoJ's Governor Shirakawa Speech
2012-08-24 08:30 GMT | United Kingdom. Gross Domestic Product (QoQ) (Q2)
2012-08-24 12:30 GMT | United States. Durable Goods Orders (Jul)
2012-08-24 13:00 GMT | Belgium. Leading Indicator (Aug)
FOREX NEWS :
2012-08-24 04:31 GMT | GBP/USD moving sideways around 1.5860
2012-08-24 02:39 GMT | EUR/AUD above 1.20; fresh 1-month highs
2012-08-24 00:50 GMT | RBA has not intervened in the FX market, Stevens says
2012-08-24 00:07 GMT | EUR/USD overbought, due for correction?
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EURUSD : 1.25557 / 1.25562
DAILY WEEKLY MONTHLY
1.2676 | 1.2635 | 1.2594
1.2533 | 1.2490 | 1.2445
SUMMARY : Up
TREND : Sideway
MA10 : Bearish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
EURUSD reached our target at 1.5935 yesterday. The Samaras-Merkel meeting might bring additional volatility to the markets. We expect that EURUSD might decline today however the medium term bias remains positive. For the short oriented market participants we suggest next targets at 1.2533 (S1), 1.2490 (S2) and 1.2445 (S3). Tendency reversal is possible from these levels. Uptrend development is limited by next resistance level at 1.2594 (R1). Brake here is essential for “Bullish” market participants. Suggested targets for today holds at 1.2635 (R2) and 1.2676 (R3)
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GBPUSD : 1.58582 / 1.58593
DAILY WEEKLY MONTHLY
1.5996 | 1.5952 | 1.5912
1.5838 | 1.5805 | 1.5766
SUMMARY : Up
TREND : Downward penetration
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
GBPUSD remains to be traded in positive tone on the hourly chart. Next news in focus from UK is the Gross Domestic Product release at 08:30 GMT. Currently market trades below the suggested support level at 1.5874 and forming correction. Our next targets stay at the same levels: 1.5838 (S1) and 1.5805 (S2). If the market gains momentum we suggest last support at 1.5766 (S3). Key resistance level is placed above the fresh high, formed yesterday -1.5912 (R1). Expected targets for long direction are placed at 1.5952 (R2) and 1.5996 (R3).
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USDJPY : 78.551 / 78.556
DAILY WEEKLY MONTHLY
79.13 | 78.93 | 78.73
78.29 | 78.10 | 77.91
SUMMARY : Down
TREND : Sideway
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Today we have important news from Japan that might establish trading tone for a today - BoJ's Governor Shirakawa Speech at 07:45 GMT. From the technical side, USDJPY is trading in a range mode at the current moment while medium term bias is negative. Our support and levels remain the same as yesterday - 78.29 (S1), 78.10 (S2) and last one at 77.91(S3). Possibility of the USDJPY strengthening is seen above the resistance at 78.73 (R1), targeting towards to levels at 78.93 (R2) and 79.13 (R3) in potential.
Source: FX Central Clearing Ltd, ( What Is Forex Trading | Forex Trading Signals | ECN Forex Trading Online | FXCC )
Market Overview by FXCC Aug 27 2012
Market Overview by FXCC Aug 27 2012
Fed’s Jackson Hole conference key event this week - BNZ
The Fed’s Jackson Hole conference, due on Friday, is the event of the week. According to Mike Jones, currency strategist at Bank of New Zealand, "some of the market impact of Bernanke’s speech has been nullified by last week’s dovish Fed minutes." The analyst adds: "The speech is expected to be used to map out the policy (easing) options facing the Fed. If this has the effect of hardening Fed easing expectations then the USD should continue to suffer."
London session ahead will be a quiet one in regards of London closing for holidays and lack of macro economic data EUR related but German Ifo business climate at 08:00 GMT as the most important, preceded by German import price index at 06:00 GMT, and Chicago Fed Evans speaking at 10:00 GMT. In the euro zone sovereign debt auctions front, France and Germany will sell short term treasury bills.
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UPCOMING EVENTS :
2012-08-27 06:00 GMT | Japan. Machine Tool Orders (YoY) (Jul)
2012-08-27 08:00 GMT | Germany. IFO - Business Climate (Aug)
2012-08-27 14:30 GMT | United States. Dallas Fed Manufacturing Business Index (Aug)
2012-08-27 16:15 GMT | United States. FOMC Member Pianalto Speaks
FOREX NEWS :
2012-08-27 04:57 GMT | GBP/USD quiet around 1.58, outlook bearish – V.Bednarik
2012-08-27 04:21 GMT | EUR/NZD set to push above 55-day EMA?
2012-08-27 03:20 GMT | EUR reaches smallest net short position since May - Nomura
2012-08-27 01:41 GMT | AUD/USD falls sharply; Only China fix catalyst?
EURUSD : 1.25073 / 1.25078
DAILY WEEKLY MONTHLY
1.2635 | 1.2594 | 1.2547
1.2482 | 1.2446 | 1.2406
SUMMARY : Up trend
TREND : Downward penetration
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
On Friday EURUSD formed correction and reached our target at 1.2490. Today we expect quiet day ahead however technically important targets might be achieved lat. Upside direction is limited by the next resistance level at 1.2547 (R1), brake here would enable higher targets at important technical level 1.2594 (R2). Momentum on the upside direction might expose last target at 1.2635 (R3) in potential. Loss of the next support level at 1.2482 (S1) would put in focus next target at 1.2446 (S2) and any further fall would then be limited by last support at 1.2406 (S3).
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GBPUSD : 1.58074 / 1.58085
DAILY WEEKLY MONTHLY
1.5911 | 1.5873 | 1.5838
1.5796 | 1.5766 | 1.5733
SUMMARY : Up trend
TREND : Downward penetration
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
GBPUSD did not show the essential momentum on Friday and remained to be traded is sideways mode however our target at 1.5805 was achieved. Fresh low at 1.5796 (S1) is the next support level. Market penetration below it might encourage execution of the short trades and drive market price towards to the next target at 1.5766 (S2). Potential is seen to reach last support level at 1.5733 (S3) in perspective. For the long positions it is preferably to wait the 1.5838 (R1) brake out. We suggest next targets at 1.5873 (R2) and 1.5911 (R3) in potential.
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USDJPY : 78.756 / 78.762
DAILY WEEKLY MONTHLY
79.37 | 79.14 | 78.93
78.62 | 78.45 | 78.28
SUMMARY : Sideway
TREND : Down trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
USDJPY broke our resistance level at 78.73 today and now moving towards to our next target at 78.93 (R1). Brake here would enable higher target at 79.14 (R2) and any further rise would then be limited by 79.37 (R3). The downtrend resuming is possible from these levels. On the other hand if price manage to stay below the next resistance at 78.93 (R1), we expect the price to retest our support at 78.62 (S1), brake below that level would suggest next targets at 78.45 (S2) and 78.28 (S3) where can be found the final support of the day.
Source: FX Central Clearing Ltd, ( Learn Forex Trading | ECN Forex Online Trading | Forex Trading Tips | FXCC )
Market Overview by FXCC Aug 28 2012
Market Overview by FXCC Aug 28 2012
Fed to deliver further stimulus - JPM
JPM is quite dovish on the next Fed policy tools to deploy, expecting Ben Bernanke & Co. to provide additional stimulus to the economy by extending the rate-on-hold guidance out to mid-2015 and increasing asset purchases. The bank expects medium-term US paper getting a better bid tone ahead of the Sept 12-13 FOMC meeting. A more marked move will come via real yields as investors bet on higher inflation, says JPM head bond strategist Terry Belton.
For the London session ahead the economic agenda will be soft once again in EUR macro data related terms, with Germany GFK consumer sentiment at 06:00 GMT, followed by Spanish final GDP 1 hour later, and EU M3 money supply at 08:00 GMT. At 11:00 GMT is expected EU's Van Rompuy will meet Spanish PM Rajoy, which could bring some headlines to the table giving some volatility to current thin markets, coupled with both Spanish and Italian short term sovereign debt auctions to be held today, Spain to sell up to €3.5B in 3 and 6 month bills. Spanish 10y bond yields hold near mid 6%s with risk premium with Germany around the 500bps.
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UPCOMING EVENTS :
2012-08-28 06:00 GMT | Germany. Gfk Consumer Confidence Survey (Sep)
2012-08-28 06:00 GMT | Switzerland. UBS Consumption Indicator (Jul)
2012-08-28 08:00 GMT | European Monetary Union. M3 Money Supply (3m) (Jul)
2012-08-28 14:00 GMT | United States. Consumer Confidence (Aug)
FOREX NEWS :
2012-08-28 04:32 GMT | GBP/USD maintains bearish profile
2012-08-28 03:51 GMT | EUR/USD in holding pattern ahead of risk events - OCBC
2012-08-28 02:53 GMT | AUD/USD continues to grind lower
2012-08-28 01:28 GMT | Risk off swings boost USD, JPY
EURUSD : 1.24836 / 1.24841
DAILY WEEKLY MONTHLY
1.2594 | 1.2547 | 1.2508
1.2446 | 1.2406 | 1.2369
SUMMARY : Up
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Market remains in uptrend after some consolidation provided yesterday. Instrument dropped below the suggested support level at 1.2482 and now is moving towards to our target at 1.2446 (S1). Brake here is required for further correction development towards to next target at 1.2406 (S2). Last support level locates today at 1.2369 (S3). Failure to go lower would put in focus next resistance at 1.2508 (R1), brake here is required to enable next targets at 1.2547 (R2) and 1.2594 (R3), important technical level.
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GBPUSD : 1.57882 / 1.57893
DAILY WEEKLY MONTHLY
1.5892 | 1.5861 | 1.5827
1.5753 | 1.5717 | 1.5681
SUMMARY : Down
TREND : Downward penetration
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
The market is intended to go lower in medium term perspective. Yesterday instrument dropped below the expected support level at 1.5796 and finally reached our target at 1.5766 today. Technically, next support level locates at today fresh low 1.5753 (S1), pushdown of the price is possible below this level. We suggest next targets at 1.5717 (S2) and 1.5681 (S3). Failure to go lower suggested support level might put in focus our next resistance level at 1.5827 (R1), brake here would suggest new targets at 1.5861 (R2) and 1.5892 (R3).
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USDJPY : 78.509 / 78.514
DAILY WEEKLY MONTHLY
79.21 | 79.02 | 78.83
78.45 | 78.28 | 78.11
SUMMARY : Down
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
USDJPY depreciated today below the expected support level at 78.62 and almost reach our next target at 78.45 (S1). We expect further easing towards to our targets later on today however there is no clear tendency on the market now. Possible execution of protective orders below the support level at 78.45 (S1) might drive market price toward to our lower targets at 78.28 (S2) and 78.11 (S3). On the other hand, if market go higher and continue to be traded in sideways we suggest waiting for a clear brake of the next resistance level at 78.83 (R1). Next expected target at 79.02 (R2).
Source: FX Central Clearing Ltd, ( Forex Trading Course | Forex Trading Blog | ECN Forex Trading Training | FXCC )