Update - Daily Technical Levels from FXCC - page 34
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Daily Forex Analysis from FXCC Nov 20 2012
Daily Forex Analysis from FXCC Nov 20 2012
Moody's downgrades France to Aa1 from Aaa
FXstreet.com (Barcelona) - Moody's has downgraded France's government bond rating to Aa1 from Aaa, maintains negative outlook. Moody's decision to downgrade France and maintain the negative outlook reflects the following:
From Moody's: 1.) France's long-term economic growth outlook is negatively affected by multiple structural challenges, including its gradual, sustained loss of competitiveness and the long-standing rigidities of its labour, goods and service markets. 2.) France's fiscal outlook is uncertain as a result of its deteriorating economic prospects, both in the short term due to subdued domestic and external demand, and in the longer term due to the structural rigidities noted above. 3.) The predictability of France's resilience to future euro area shocks is diminishing in view of the rising risks to economic growth, fiscal performance and cost of funding. France's exposure to peripheral Europe through its trade linkages and its banking system is disproportionately large, and its contingent obligations to support other euro area members have been increasing. Moreover, unlike other non-euro area sovereigns that carry similarly high ratings, France does not have access to a national central bank for the financing of its debt in the event of a market disruption.
https://support.fxcc.com/email/technical/20112012/
UPCOMING EVENTS :
2011-08-10 **:00 GMT : European Monetary Union. EcoFin Meeting
2011-08-10 07:00 GMT : Germany. Producer Price Index
2012-11-20 13:30 GMT : United States. Housing Starts
2012-11-20 17:15 GMT : United States. Fed's Bernanke Speech
UPCOMING EVENTS :
2012-11-20 06:07 GMT : GBP/USD bulls have room to run; resistance at 1.6065 - V.Bednarik
2012-11-20 05:52 GMT : EUR/USD holds 1.28; Greece aid hopes outweigh France downgrade
2012-11-20 05:27 GMT : AUD/USD long term bearish – Forex.com
2012-11-20 05:02 GMT : NZD/USD limited below key Fibo around 0.82
---------------------
EURUSD :
HIGH 1.28142 LOW 1.27649 BID 1.27885 ASK 1.27891 CHANGE -0.19% TIME 08 : 11 : 04
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: On the bigger picture trend still is pointing up. Targets at 1.2824 (R2) and 1.2837 (R3) might be attractive for the uptrend penetration if the price manage to break our next resistance level at 1.2811 (R1). Downwards scenario: Clearance of next support level at 1.2785 (S1) might lead to the retracement formation with next expected targets at 1.2772 (S2) and 1.2760 (S3) in potential.
Resistance Levels: 1.2811, 1.2824, 1.2837
Support Levels: 1.2785, 1.2772, 1.2760
----------------------
GBPUSD :
HIGH 1.59195 LOW 1.58914 BID 1.59130 ASK 1.59135 CHANGE 0.03% TIME 08 : 11 : 05
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Market moves in consolidation mode after the uptrend formation and we expect retest of previous day high later on today. Clearance of next resistance level at 1.5924 (R1) would suggest next targets at 1.5936 (R2) and 1.5947 (R3). Downwards scenario: While next support is placed at 1.5907 (S1), decline below it would put in focus next target at 1.5894 (S2) and any further depreciation would then be limited to 1.5882 (S3) intraday.
Resistance Levels: 1.5924, 1.5936, 1.5947
Support Levels: 1.5907, 1.5894, 1.5882
-----------------------------
USDJPY
HIGH 81.432 LOW 81.142 BID 81.309 ASK 81.313 CHANGE -0.12% TIME 08 : 11 : 06
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Instrument stabilized and trades in a narrow channel without priority in direction. Fresh peak is acting now as resistance level at 81.43 (R1), penetration above it would suggest next targets at 81.59 (R2) and 81.76 (R3) on the upside. Downwards scenario: We suggest waiting for a clear break out of important levels prior taking any positions. If USDJPY manage to break our support level at 81.12 (S1), we expect next targets at 80.94 (S2) and 80.75 (S3) in potential.
Resistance Levels: 81.43, 81.59, 81.76
Support Levels: 81.12, 80.94, 80.75
Source: FX Central Clearing Ltd,( ECN Brokers | ECN Forex Brokers | ECN Trading | FXCC )
Daily Forex Analysis from FXCC Nov 21 2012
Daily Forex Analysis from FXCC Nov 21 2012
EU Finance Ministers fail to agree on Greece; Talks to resume on Monday
The European finance ministers failed to reach any conclusive decision on Greece after a 10+ hours meeting in Brussels, which came to a conclusion well into the night at around 4am. Details will not be released and the press conference was canceled. Luke Baker, Reuters bureau chief in Brussels, notes: "After more than 10 hours of meeting, German Finance Minister Schaeuble said euro zone finance ministers couldn't reach an agreement on Greece. Euro Finance Chiefs will continue talks on Monday..."
Earlier on the Asian session, Reuters was out reporting on a Eurogroup document laying out details on Greek debt, which is seen at debt to GDP of 144% in 2020, 133% in 2022, 111% in 2030, noted Mr. Baker. Current Greek debt level stands at 170% of GDP. Bloomberg reported that target of reaching debt sustainability may be postponed to 2022. One of the measures under discussion is suspending for 10 years interest payments on loans provided to Greece by the European Financial Stability Facility (EFSF), Reuters reported citing an unnamed official. It is thought that even combined elements "would still fail to reduce the overall debt-to-GDP ratio to 120% by 2020, the level the IMF has deemed as 'sustainable' " Bloomberg notes. Speculation is that IMF may remove itself from any Greek bailout programs if the 120% threshold can not be reached.-Fxstreet.com
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UPCOMING EVENTS :
2012-11-21 09:30 GMT | United Kingdom. Bank of England Minutes
2012-11-21 13:30 GMT | United States. Initial Jobless Claims
2012-11-21 14:55 GMT | United States. Reuters/Michigan Consumer Sentiment Index
2012-11-21 15:00 GMT | United States. Leading Indicator
FOREX NEWS :
2012-11-21 05:46 GMT | GBP/USD peels back to 1.59 ahead of BoE Minutes
2012-11-21 05:32 GMT | EUR/GBP; 1-month already dealing around the 0.80 figure
2012-11-21 05:08 GMT | EUR/AUD turns lower toward 1.2300
2012-11-21 04:18 GMT | AUD/USD sinks on Eurogroup dissapointment
EURUSD :
HIGH 1.2822 LOW 1.27364 BID 1.27527 ASK 1.27533 CHANGE -0.5% TIME 08 : 01 : 43
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EURUSD formed retracement formation today, turning intraday bias to the negative side. Our next resistance level for today is hold at 1.2774 (R1). Rise above it might open route towards to next targets at 1.2788 (R2) and 1.2803 (R3). Downwards scenario: A break below the fresh low at 1.2736 (S1) would allow bears remaining in play on the medium-term perspective. Next targets could be found at 1.2720 (S2) and 1.2705 (S3).
Resistance Levels: 1.2774, 1.2788, 1.2803
Support Levels: 1.2736, 1.2720, 1.2705
----------------------------
GBPUSD :
HIGH 1.59285 LOW 1.58998 BID 1.59046 ASK 1.59051 CHANGE -0.12% TIME 08 : 01 : 44
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: A move above the resistance level at 1.5912 (R1) might drive market price towards to next target at 1.5921 (R2) and any further rise would then be limited to resistance at 1.5930 (R3). Downwards scenario: Hourly chart correction remains in power today. Next barrier locates at 1.5894 (S1). Loss here might enable further bearish pressure and downgrade Cable towards to expected targets at 1.5886 (S2) and 1.5877 (S3).
Resistance Levels: 1.5912, 1.5921, 1.5930
Support Levels: 1.5894, 1.5886, 1.5877
-----------------------
USDJPY :
HIGH 81.974 LOW 81.654 BID 81.913 ASK 81.917 CHANGE 0.29% TIME 08 : 01 : 46
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: USDJPY gained momentum on the positive side and formed fresh high today, which is our key point for further market gains. Strengthening above the resistance at 81.97 (R1) would enable expected targets at 82.14 (R2) and 82.29 (R3). Downwards scenario: Retracement development is limited to the next support level at 81.70 (S1). Clearance here would open road towards to possible targets, located at 81.53 (S2) and 81.35 (S3).
Resistance Levels: 81.97, 82.14, 82.29
Support Levels: 81.70, 81.53, 81.35
Source: FX Central Clearing Ltd,( ECN Platform | Forex Broker Reviews | Online Forex Broker | FXCC )
Daily Forex Analysis from FXCC Nov 22 2012
Daily Forex Analysis from FXCC Nov 22 2012
Market pricing Greece deal by Monday
Judging by the reaction of the market after EU authorities failed to reach a deal on Greece, hopes that by Monday leaders will resolve the technicalities and find a way to unblock the next disbursement of bailout money to Greece, continue to run high, and so does the Euro. There are varies option on the table, with the WSJ citing the three most likely, which include a debt buybacks program, loan interest cuts to 0.25%, which may potentially save the country over 44 billion euros, and a return of SMP profits. The German leader Angela Merkel advocated after the last EcoFin meeting that they could beef up the EFSF funds by 10 billion euros to support an activation of a Greece buy back program. Meanwhile, EU leaders are scheduled to have talks today about budget talks, with the market focusing on the area's spending plan. Headline over this meeting will hardly move the Euro.
Eurozone finance ministers are discussing options to bring down Greece's debt to 120% of GDP in 2020. One of the measures under discussion is suspending for 10 years interest payments on loans provided to Greece by the European Financial Stability Facility (EFSF), Reuters reported citing an unnamed official. Another measure could be to buy back Greek debt held by private financial institutions, offering 30% of its value, while a third step would be to cut the interest on €53 billion of bilateral loans to Greece, to 25 basis points from the current 150 basis points.
https://support.fxcc.com/email/technical/22112012/
UPCOMING EVENTS :
2012-11-22 08:28 GMT | Germany. Markit Services PMI
2012-11-22 08:58 GMT | European Monetary Union. Markit Services PMI
2012-11-22 13:30 GMT | Canada. Retail Sales
2012-11-22 15:00 GMT | European Monetary Union. Consumer Confidence
FOREX NEWS :
2012-11-22 05:44 GMT | EUR/USD below 1.16 in 2013 favored – JPM
2012-11-22 04:07 GMT | GBP/JPY moving in tight ranges below 132
2012-11-22 03:03 GMT | AUD is 5% overvalued – JPM
2012-11-22 01:28 GMT | AUD/CAD risks to the downside if below 1.0300 – TD Securities
-----------------------------
EURUSD :
HIGH 1.28682 LOW 1.28261 BID 1.28466 ASK 1.28472 CHANGE 0.14% TIME 08:17:21
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EURUSD tested positive side today and gains 0.14 %. Local high, formed today acts now as next barrier for further price appreciation. Clearance of 1.2868 (R1) would suggest next targets at 1.2885 (R2) and 1.2902 (R3). Downwards scenario: Important support level locates right at 1.2831 (S1). Successful retest here would open route towards to next target at 1.2814 (S2) and any further decline would then be limited to final support for today at 1.2796 (S3).
Resistance Levels: 1.2868, 1.2885, 1.2902
Support Levels: 1.2831, 1.2814, 1.2796
----------------------------
GBPUSD :
HIGH 1.59698 LOW 1.59509 BID 1.59599 ASK 1.59606 CHANGE 0.06% TIME 08:17:22
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: GBPUSD accomplished new step of uptrend formation. Risk of further market increase is seen above the resistance at 1.5970 (R1). Violation here might increase bullish pressure and expose next targets at 1.5981 (R2) and 1.5992 (R3). Downwards scenario: Price depreciation below the support at 1.5949 (S1) level might likely push the pair toward the second target at 1.5939 (S2) and any further market decline would then be limited to support at 1.5928 (S3) price.
Resistance Levels: 1.5970, 1.5981, 1.5992
Support Levels: 1.5949, 1.5939, 1.5928
-----------------------
USDJPY :
HIGH 82.591 LOW 82.366 BID 82.470 ASK 82.474 CHANGE -0.07% TIME 08:17:24
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: If we take a look on the hourly chart we can see that medium-term bias is clearly positive. We expect further appreciation if the price manages to overcome 82.61 (R1). Next targets could be found at 82.80 (R2) and 82.99 (R3). Downwards scenario: A failure to clear next resistance barrier would open the way towards the initial support level at 82.26 (S1) price. Loss here might take the pair towards to eventual targets, located at 82.07 (S2) and 81.87 (S3) in potential.
Resistance Levels: 82.61, 82.80, 82.99
Support Levels: 82.26, 82.07, 81.87
Source: FX Central Clearing Ltd,( ECN Forex Trading| Forex Rates | Forex Market | FXCC )
Daily Forex Analysis from FXCC Nov 23 2012
Daily Forex Analysis from FXCC Nov 23 2012
Greece edges towards a debt deal; IMF lowers demands
Greece may soon breathe a sigh of relief, as a deal with the Troika looks closer, according to Greek-based paper ekathimeini, citing Finance Minister Yannis Stournaras who suggests only 10 billion euros stand in the way of a deal.From ekathimeini: "Sources said that another 8 to 10 billion euros was needed to meet the target." the Greek paper also reports that "the IMF has accepted that Greek debt will not meet its target of 120 percent of GDP in 2020 and is willing for this to change to 124 percent in the same year."
German Chancellor Angela Merckel said after the meeting she doubts an agreement will be reached on EU budget this week, and will likely need another few sessions of negotiations. She added positions are too far apart for now. Meanwhile, according to an official statement by the European Council, Yves Mersch has been appointed to the executive board of the European Central Bank for a term of eight years as from 15 December. He will succeed José Manuel González-Páramo, who completed his term of office on 31 May.
https://support.fxcc.com/email/technical/23112012/
UPCOMING EVENTS :
2012-11-23 **:00 GMT | European Monetary Union. European Council meeting
2012-11-23 07:00 GMT | Germany. Gross Domestic Product
2012-11-23 09:30 GMT | United Kingdom. BBA Mortgage Approvals
2012-11-23 13:30 GMT | Canada. Consumer Price Index
FOREX NEWS :
2012-11-23 05:50 GMT | GBP/USD makes 10-year volatility lows while around 1.5950
2012-11-23 04:47 GMT | USD/JPY in the red below 82.50 for first time in a week
2012-11-23 03:40 GMT | USD/CAD 0.99 a decent support area - TDS
2012-11-23 02:57 GMT | EUR/USD finds bids above 1.2870
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EURUSD :
HIGH 1.28939 LOW 1.28685 BID 1.28939 ASK 1.28940 CHANGE 0.06% TIME 08 : 13 : 26
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: We placed our next resistance level above the yesterday high at 1.2899 (R1). If the market manages to overcome it, next resistance in focus would be 1.2917 (R2) and any further rise would then be targeting 1.2935 (R3).Downwards scenario: The pair continues to extend its strengthening on the medium- term perspective, however a breach of our next support level at 1.2868 (S1) might trigger downside formation towards to our next targets at 1.2851 (S2) and 1.2839 (S3).
Resistance Levels: 1.2899, 1.2917, 1.2935
Support Levels: 1.2868, 1.2851, 1.2839
--------------------------------
GBPUSD :
HIGH 1.59526 LOW 1.59336 BID 1.59526 ASK 1.59530 CHANGE 0.1% TIME 08 : 13 : 27
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: BBA Mortgage Approvals release at 09:30 GMT in focus. Break above the next resistance level at 1.5959 (R1) would suggest next targets at 1.5969 (R2) and 1.5978 (R3) in potential. Downwards scenario: From the technical side, market sentiment is not clear. Next attractive level for the downside development locates at 1.5939 (S1). Loss here might take the pair towards to eventual targets at 1.5928 (S2) and 1.5918 (S3).
Resistance Levels: 1.5959, 1.5969, 1.5978
Support Levels: 1.5939, 1.5928, 1.5918
-----------------------------
USDJPY :
HIGH 82.506 LOW 82.181 BID 82.268 ASK 82.272 CHANGE -0.24% TIME 08 : 13 : 28
OUTLOOK SUMMARY : Up
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Medium term bias remains positive after correction, provided today. Our next resistance is placed at 82.44 (R1). Rise above it might push price towards to next targets at 82.61 (R2) and 82.77 (R3) intraday.Downwards scenario: Instrument trades below the moving averages and we expect the pair to extend its losses later on today. Below the support level at 82.15 (S1) locates initial retracement targets at 81.98 (S2) and 81.82 (S3).
Resistance Levels: 82.44, 82.61, 82.77
Support Levels: 82.15, 81.98, 81.82
Source: FX Central Clearing Ltd,( Forex Rate | Forex News | ECN Forex Broker | FXCC )
Daily Forex Analysis from FXCC Nov 24 2012
Daily Forex Analysis from FXCC Nov 24 2012
Greek deal hopes and China's improving growth momentum lift market mood
Risky assets advanced this week as economic indicators showed improving growth momentum in China and the US, while the economic recession did not intensify in the eurozone. Optimism about an imminent agreement on a debt-reduction package for Greece also contributed to improve market sentiment. Spain took advantage of more positive market mood and it managed to sell EUR8.8bn in government bonds and Treasury bills, helping sentiment toward risk assets. In this context, negative impact of the French credit rating downgrading was quite mute. Peripheral risk premia narrowed notably across the board this week. Notwithstanding the safe-haven yields rose, the reaction in the short-end of the German yield curve was quite limited. At the end of the week, oil prices fell due to ceasefire agreed between Israel and Hamas, reducing one of the global market headwinds. Finally, Japanese yen is being dragged by expectation of Japanese Liberal Democratic Party expectation to win elections on December 16, which backs an ease monetary policy
Today's market headlines will be almost entirely dominated by the EU FinMin meeting, with reports over the weekend suggesting a Greece debt deal is still up in the air. On Saturday, finance ministers held a teleconference, which failed to clear up the picture in this regard. The Greek-based paper Kathimerini, citing sources familiar with the talks, suggests an agreement may not be inked until December 3, while portals like Reuters sound more optimistic.-FXstreet.com
https://support.fxcc.com/email/technical/26112012/
UPCOMING EVENTS :
2012-11-26 **:00 GMT | European Monetary Union. EcoFin Meeting
2012-11-26 07:00 GMT | Germany. Retail Sales
2012-11-26 21:45 GMT | New Zealand. Trade Balance
FOREX NEWS :
2012-11-26 05:31 GMT | EUR/USD, 1.30 or 1.2920 first? EU FinMin to shake up price
2012-11-26 05:26 GMT | AUD/USD above 1.05 if Greece gets the money - Westpac
2012-11-26 05:02 GMT | GBP/USD limited below 1.6050
-------------------------
EURUSD :
HIGH 1.29774 LOW 1.29453 BID 1.29453 ASK 1.29459 CHANGE -0.2% TIME 08:30:18
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Next barrier for uptrend formation locates at Friday’s high- 1.2991 (R1), above here opens the way for a move towards to our targets at 1.3010 (R2) and 1.3029 (R3). Downwards scenario: If the market successfully retest our support level at 1.2946 (S1), we expect further consolidation development with possible targets at 1.2928 (S2) and 1.2909 (S3).
Resistance Levels: 1.2991, 1.3010, 1.3029
Support Levels: 1.2946, 1.2928, 1.2909
------------------------
GBPUSD :
HIGH 1.60379 LOW 1.60159 BID 1.60169 ASK 1.60173 CHANGE -0.06% TIME 08:30:19
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Resuming of the uptrend is possible above the next resistance level at 1.6051 (R1). Clearance of this level might expose next targets at 1.6067 (R2) and 1.6081 (R3). Downwards scenario: Market deviates from the uptrend formation and currently trades on the session low. Further market decline is limited to next support level at 1.6010 (S1), with only clear break here would be a signal of market weakening with next targets at 1.5996 (S2) and 1.5981 (S3).
Resistance Levels: 1.6051, 1.6067, 1.6081
Support Levels: 1.6010, 1.5996, 1.5981
--------------------
USDJPY :
HIGH 82.622 LOW 82.066 BID 82.083 ASK 82.087 CHANGE -0.35% TIME 08:30:20
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Our bullish expectations remain intact, above the next resistance level at 82.61 (R1). Break here would suggest next targets at 82.79 (R2) and 82.98 (R3) in potential. Downwards scenario: Bearish penetration below the support at 82.15 (S1) might determine negative sentiment for the remaining of the day with possible targets in focus at 81.96 (S2) and 81.77 (S3) intraday.
Resistance Levels: 82.61, 82.79, 82.98
Support Levels: 82.15, 81.96, 81.77
Source: FX Central Clearing Ltd,( Forex Charts | Forex Exchange | ECN Forex Online | FXCC )
Daily Forex Analysis from FXCC Nov 27 2012
Daily Forex Analysis from FXCC Nov 27 2012
More funding for Greece finally approved
The EU reached a deal to reduce Greek debt to 124 % of the GDP in 2020 through a package of extra steps amounting 20 % of GDP, that was the headline from Reuters earlier in the Asian session. Reporters, however, had to arm themselves with patience until concrete details out of Brussels came out. Once the Eurogroup press conference was on past 1am Brussels time, Jean-Claude Juncker, president of the Eurogroup, provided the first remarks to the press, saying "today we reached political agreement on next disbursement to Greece", adding that despite has been a difficult decision, "I am complimenting the Greek gov't, I am complimenting the Greek parliament".
The Eurogroup will formally decide on the disbursement December 13 if national parliaments approve tonight's deal. For now, what has been written in the draft document is that Greece aid disbursement of around €44 bln will be provided under 3 tranches. The first €34.4 bln loan is expected by mid December once green light from parliaments is given, and through Q1 2013 the rest, subject to implementation of its ongoing austerity program.-FXstreet.com
https://support.fxcc.com/email/technical/27112012/
UPCOMING EVENTS :
2012-11-27 09:30 GMT | United Kingdom. Gross Domestic Product
2012-11-27 13:30 GMT | United States. Durable Goods Orders
2012-11-27 15:00 GMT | United States. Consumer Confidence
2012-11-27 19:00 GMT | United States. Fed's Beige Book
FOREX NEWS :
2012-11-27 05:40 GMT | Greece buys time; Will EUR/USD buy into Greece?
2012-11-27 05:38 GMT | GBP/USD flat below 1.6050 ahead of UK GDP
2012-11-27 05:13 GMT | EUR/GBP bid above 0.8100
2012-11-27 04:15 GMT | AUD/JPY asks above 86 round heavy
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EURUSD :
HIGH 1.30087 LOW 1.29694 BID 1.29856 ASK 1.29862 CHANGE 0.11% TIME 08:29:07
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Our retail trading market sentiment indicator shows, that majority of traders have sold during the EURUSD appreciation. Penetration above the 1.3010 (R1) might lead to the protective orders execution and drive market price towards to next targets at 1.3029 (R2) and 1.3046 (R3). Downwards scenario: Market stabilized after the previous day’s gains and looks ready to establish correction. Market decline below the next support level at 1.2967 (S1) would suggest next targets at 1.2948 (S2) and 1.2929 (S3).
Resistance Levels: 1.3010, 1.3029, 1.3046
Support Levels: 1.2967, 1.2948, 1.2929
-------------------------------------
GBPUSD :
HIGH 1.60447 LOW 1.60226 BID 1.60369 ASK 1.60378 CHANGE 0.06% TIME 08:29:08
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Today in focus GDP announcement at 09:30 GMT. Our next resistance level is placed above the local peak at 1.6051 (R1) (High of 23/11/2012). Strengthening above it would point to resistive structure at 1.6067 (R2) onto 1.6081(R3). Downwards scenario: Downside fluctuations remains for now limited to next support level at 1.6025 (S1), only clear break here would be a signal of market easing with next targets at 1.6010 (S2) and 1.5996 (S3) in potential.
Resistance Levels: 1.6051, 1.6067, 1.6081
Support Levels: 1.6025, 1.6010, 1.5996
---------------------------
USDJPY :
HIGH 82.305 LOW 81.858 BID 82.273 ASK 82.279 CHANGE 0.26% TIME 08:29:09
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Longer term we look for a move above the 82.43 (R1). Loss here might establish new step of uptrend formation and target 82.61 (R2) en route to 82.79 (R3). Downwards scenario: On the short –term perspective we expect market decline. A Bearish signal would be created if the currency dropped below the next support level at 82.09 (S1). We suggest next targets in such scenario at 81.92 (S2) and 81.76 (S3).
Resistance Levels: 82.43, 82.61, 82.79
Support Levels: 82.09, 81.92, 81.76
Source: FX Central Clearing Ltd, (http://www.fxcc.com
Daily Forex Analysis from FXCC Nov 28 2012
Daily Forex Analysis from FXCC Nov 28 2012
OECD: EU debt crisis a primary threat to world economy
The OECD released its twice-yearly Economic Outlook on Tuesday in which it cut the global growth forecast and warned that the Eurozone debt crisis is a greater threat to the world economy than the looming US fiscal cliff. "After five years of crisis, the global economy is weakening again," OECD's chief economist Pier-Carlo Padoan warned. "The risk of a new major contraction can't be ruled out." The Paris based organization reduced its global growth forecast for 2012 from 3.4% seen in May to 2.9%, and for 2013 from 4.2% to 3.4%. It also suggested that the Eurozone economy should start growing again in 2013 and that the US should witness a expansion of 2% next year and of around 3% in 2014. An intensification of the debt crisis in the Eurozone could however push the area into a profound recession and damage US recovery.
The OECD urged governments not to cut spending too much, as it hurts growth. Central banks in the Eurozone, Japan, China and India were advised to boost stimulus to prop up their ailing economies. The organization also allowed for the possibility of Greece not being able to strictly adhere to its reform plan, should recession deepen more than expected. “The agreed consolidation measures should be put in place, but if growth proves lower than assumed in the government's fiscal plans, then the automatic stabilisers should be allowed to operate, even if this means missing the set targets,” the OECD stated.-FXstreet.com
https://support.fxcc.com/email/technical/28112012/
UPCOMING EVENTS :
2012-11-28 13:00 GMT | Germany. Consumer Price Index. Preliminar
2012-11-28 15:00 GMT | United States. New Home Sales
2012-11-28 19:00 GMT | United States. Fed's Beige Book
2012-11-28 23:50 GMT | Japan. Large Retailer's Sales
FOREX NEWS :
2012-11-28 05:42 GMT | EUR/USD risks losing 1.29; Greece lose ends, US fiscal cliff weigh
2012-11-28 05:19 GMT | GBP/USD seeing little action, but gently offered toward 1.60
2012-11-28 05:01 GMT | AUD/USD back to the upper bound of its tiny 30 pip range
2012-11-28 04:06 GMT | GBP/JPY suffering from risk aversion, holds above 131
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EURUSD :
HIGH 1.29452 LOW 1.29118 BID 1.29164 ASK 1.29171 CHANGE -0.2% TIME 08 : 32 : 07
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: The corrective reaction remains in power, though medium-term bias remains positive. In focus our resistance level at 1.2947 (R1), break here would suggest next targets at 1.2967 (R2) and 1.2984 (R3). Downwards scenario: At the moment pair is looing -0.2% and might face next supportive barrier at 1.2900 (S1). Easing below it is essential to enable next targets at 1.2882 (S2) and 1.2865 (S3) in perspective.
Resistance Levels: 1.2947, 1.2967, 1.2984
Support Levels: 1.2900, 1.2882, 1.2865
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GBPUSD :
HIGH 1.60248 LOW 1.59949 BID 1.60013 ASK 1.60022 CHANGE -0.13% TIME 08 : 32 : 08
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: The pair posted fresh high yesterday and trapped to consolidative mode trading. A break of technically important level at 1.6021 (R1) might determine positive bias for the remaining of the day. Next suggested targets in this case would be 1.6035 (R2) and 1.6048 (R3). Downwards scenario: Price setup is looking for a pullback development. Downside fluctuations remains for now limited to next support level at 1.5992 (S1), only clear break here would be a signal of market easing with next targets at 1.5980 (S2) and 1.5968 (S3).
Resistance Levels: 1.6021, 1.6035, 1.6048
Support Levels: 1.5992, 1.5980, 1.5968
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USDJPY :
HIGH 82.211 LOW 81.717 BID 81.767 ASK 81.771 CHANGE -0.47% TIME 08 : 32 : 09
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Neutral
Upwards scenario: Instrument trades in gradual descending channel on the hourly chart. Our next resistance level is placed at 81.91 (R1). Brake here is required for a return to the upper side of the channel with possible targets at 82.01 (R2) and 82.10 (R3) in potential. Downwards scenario: Penetration below the support at 81.66 (S1) might change technical picture and establish downtrend formation on the medium-term perspective. Our next expected target locates at 81.57 (S2) and any further loss would then be targeting to final support for today at 81.47 (S3).
Resistance Levels: 81.91, 82.01, 82.10
Support Levels: 81.66, 81.57, 81.47
Source: FX Central Clearing Ltd,( Forex Signals | ECN Forex Broker | Forex Trade | FXCC )
Daily Forex Analysis from FXCC Nov 29 2012
Daily Forex Analysis from FXCC Nov 29 2012
EU gives the go-ahead to Spanish bank restructuring plan
The European Commission announced on Wednesday its approval of the plans to restructure Spain's four nationalized banks: Bankia, Nova Caixa Galicia, Catalunya Caixa and Banco de Valencia. Vice President of the European Commission responsible for Competition Policy Joaquín Almunia said in the European morning that the injection of 37 billion euros of the bank rescue would require a 60% reduction in the size of the nationalized financial institutions by 2017.
Joaquín Almunia informed that during the negotiations with Spanish authorities and the banks in question it was established that the recapitalization funds would be distributed as follows: 18 billion euros for Bankia, 9 billion for Catalunya Caixa, 5.5 billion for Nova Caixa Galicia and 4.5 billion for Banco de Valencia. The four nationalized financial institutions should abandon conceding loans for high risk activities and should transfer 45 billion euros of toxic assets to the newly created bad bank. Catalunya Caixa and Nova Caixa Galicia are expected to be sold before 2017.-FXstreet.com
https://support.fxcc.com/email/technical/29112012/
UPCOMING EVENTS :
2012-11-29 08:55 GMT | Germany. Unemployment Change (Nov)
2012-11-29 10:30 GMT | United Kingdom. BoE's Governor King Speech
2012-11-29 13:30 GMT | United States. Gross Domestic Product Annualized (Q3)
2012-11-29 15:00 GMT | United States. Pending Home Sales (MoM) (Oct)
FOREX NEWS :
2012-11-29 06:12 GMT | EUR/GBP flat below 0.8100, 50% Fibo
2012-11-29 05:36 GMT | GBP/USD trying to push higher, eyeing 1.6020
2012-11-29 05:25 GMT | NZD/USD higher on US 'fiscal cliff' optimism
2012-11-29 04:09 GMT | EUD/USD bullish while above 1.2885 - Scotiabank
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EURUSD :
HIGH 1.29611 LOW 1.29388 BID 1.29460 ASK 1.29465 CHANGE -0.05% TIME 08:50:54
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Next on tap, resistance level at 1.2962 (R1). A break higher could open the door for an attack to next target at 1.2980 (R2) and final immediate resistance is seen at 1.2996 (R3). Downwards scenario: Further retracement formation on the medium-term might occur below the support level at 1.2939 (S1), break here is required to put focus on actual targets at 1.2921 (S2) and 1.2903 (S3).
Resistance Levels: 1.2962, 1.2980, 1.2996
Support Levels: 1.2939, 1.2921, 1.2903
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GBPUSD :
HIGH 1.60202 LOW 1.60081 BID 1.60147 ASK 1.60155 CHANGE 0.01% TIME 08:50:55
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Upside risk aversion is seen above the resistance at 1.6021 (R1). Any violation of that level would be considered as signal of possible uptrend formation towards to our targets at 1.6031 (R2) and 1.6042 (R3).Downwards scenario: Though, our medium-term outlook is bearish. A break through support level at 1.6005 (S1) is possible en route towards to our intraday targets at 1.5994 (S2) and 1.5983 (S3).
Resistance Levels: 1.6021, 1.6031, 1.6042
Support Levels: 1.6005, 1.5994, 1.5983
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USDJPY :
HIGH 82.214 LOW 82.006 BID 82.146 ASK 82.151 CHANGE 0.09% TIME 08:50:56
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: The pair might face key resistive bastion at 82.22 (R1). A break above it might activate upside pressure and suggest the short-term targets at 82.30 (R2) and 82.39 (R3). Downwards scenario: On a slightly longer term focus has returned to the support at 82.00 (S1). If the market manages to overcome it, next hurdle lies at 81.91 (S2) and 81.82 (S3).
Resistance Levels: 82.22, 82.30, 82.39
Support Levels: 82.00, 81.91, 81.82
Source: FX Central Clearing Ltd,( ECN Forex Brokers | Forex Converter | Forex Expert Advisors | FXCC )
Daily Forex Analysis from FXCC Nov 30 2012
Daily Forex Analysis from FXCC Nov 30 2012
Moody's predicts softer EU GDPs in 2013
Following comments from Moody’s about Greece struggling to be back on a sustainable debt path, also adding that they see high odds of Greek default on privately held debt, the rating agency hit back again on Thursday, this time to remind Eurozone countries that growth for 2013 is expected to be meager. According to Moody's, the Euro zone GDP is expected to rise 0.2% next year, with France GDP projection at 0.4%, Germany to show a 1.2% increase, while contractions in the tune of 4.2% and 1.5% are expected in Greece and Spain respectively. If Greece leaves the euro zone, the EU GDP would fall 4.5%, Moody’s forecasts.
An official from the Greek finance ministry announced on Wednesday plans of hiring Deutsche Bank and Morgan Stanley to carry out the voluntary bond buyback. He affirmed that Deutsche Bank would take on the role of the principal supervisor, but would work closely together with Morgan Stanley. This decision comes after the EU and the IMF reached an agreement on conducting a debt repurchase aimed at reducing Greek debt to sustainable levels. Details of the buyback will be announced next week by the Greek debt management agency. As it has almost run out of money, the Greek government proposed that it would borrow 10 billion euros from the EFSF, which would allow it to buy 30 billion euros worth of debt, reducing thus its outstanding obligations by 20 billion euros. Greece still hasn't decided at what price it will offer the bond buyback to private holders of bonds.-FXstreeet.com
https://support.fxcc.com/email/technical/30112012/
UPCOMING EVENTS :
2012-11-30 07:00 GMT | Germany. Retail Sales (YoY) (Oct)
2012-11-30 10:00 GMT | European Monetary Union. Unemployment Rate (Oct)
2012-11-30 13:30 GMT | United States. Core Personal Consumption Expenditure - Prices Index (YoY) (Oct)
2012-11-30 13:30 GMT | Canada. Gross Domestic Product Annualized (QoQ) (Q3)
FOREX NEWS :
2012-11-30 05:39 GMT | GBP/USD flat below 1.6050, ‘favors the upside’ – V.Bednairk
2012-11-30 05:26 GMT | USD/JPY higher for the session, but still flat for the week
2012-11-30 04:28 GMT | EUR/USD soon expected to crack 1.30 - UBS
2012-11-30 03:42 GMT | GBP/JPY capped below 8-month highs 132.50
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EURUSD :
HIGH 1.30067 LOW 1.29694 BID 1.30015 ASK 1.30022 CHANGE 0.18% TIME 08:21:10
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Extension of the stability above the 1.3013 (R1) level would keep the bullish structure intact and validate next intraday targets at 1.3028 (R2) and 1.3042 (R3). Downwards scenario: The hourly structure might turn into negative scenario if the price mange to overcome next support level at 1.2982 (S1) later on today. Supportive areas locates at 1.2967 (S2) and 1.2951 (S3).
Resistance Levels: 1.3013, 1.3028, 1.3042
Support Levels: 1.2982, 1.2967, 1.2951
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GBPUSD :
HIGH 1.60485 LOW 1.60346 BID 1.60462 ASK 1.60470 CHANGE 0.04% TIME 08:21:11
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: GBPUSD might find buyers above the important resistance level at 1.6058 (R1) (High of the 27/11/2012). Break here would open route towards to our next targets at 1.6067 (R2) and 1.6077 (R3). Downwards scenario: In regard to the descending movement, opportunities for bearish oriented traders is seen below the support level at 1.6033 (S1). Loss here would enable next supports at 1.6024 (S2) and 1.6013 (S3).
Resistance Levels: 1.6058, 1.6067, 1.6077
Support Levels: 1.6033, 1.6024, 1.6013
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USDJPY :
HIGH 82.545 LOW 82.046 BID 82.380 ASK 82.385 CHANGE 0.32% TIME 08:21:12
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: A violation of next resistance at 82.55 (R1) might call for a run towards to next target at 82.67 (R2) and any further appreciation would then be targeting 82.81 (R3). Downwards scenario: Near-term risks are directed to a drop back to the consolidation formation below the support at 82.28 (S1). In such case our intraday expected targets would be 82.14 (S2) and 82.00 (S3).
Resistance Levels: 82.55, 82.67, 82.81
Support Levels: 82.28, 82.14, 82.00
Source: FX Central Clearing Ltd,( Forex Calendar | Forex Trading Strategies | ECN Trading Forex | FXCC )
Daily Forex Analysis from FXCC Dec 03 2012
Daily Forex Analysis from FXCC Dec 03 2012
Merkel no longer discards losses on Greek debt
Weekend headlines suggest German Chancellor Angela Merkel may be re-thinking its stance over future Greece's debt haircuts, after she said on Sunday this is an option to consider, although not until the ongoing rescue program shows Greece's budget turned into a surplus. Since last Tuesday's deal to ease the mammoth-size debt burden that the Greek government suffers, so that its debt to GDP ratio can come down to 126.6% or thereabouts by 2020, Germany's posture on write-downs of Greek debt has been firm, saying that it would be illegal to pursue such scenario.
The majority of German Chancellor Angela Merkel's center-right coalition members as well as the main opposition parties supported the Greek deal. This outcome has positive implications for Merkel herself, as the vote was also a test of her lawmaker's support for her European policies, ahead of the federal elections scheduled for September 2013. During the debate preceding the vote German Finance Minister Wolfgang Schaeuble expressed his satisfaction with Greece's austerity efforts and emphasized that the speculation on another haircut on Greek debt could destabilize the situation in the Eurozone further. - FXstreet.com
https://support.fxcc.com/email/technical/03122012/
UPCOMING EVENTS :
2012-12-03 13:58 GMT | United States. Markit Manufacturing PMI (Nov)
2012-12-03 14:00 GMT | United States. ISM Prices Paid (Nov)
2012-12-03 15:00 GMT | United States. Construction Spending (MoM) (Oct)
2012-12-03 15:00 GMT | United States. ISM Manufacturing PMI (Nov)
FOREX NEWS :
2012-12-03 04:37 GMT | EUR/GBP firm above 0.8100
2012-12-03 00:02 GMT | USD/JPY capped below 82.50
2012-12-03 01:25 GMT | EUR/USD should advance towards 1.3140 - BBH
2012-12-03 00:47 GMT | AUD/USD breaks through 1.04 on disappointing Australian data
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EURUSD :
HIGH 1.30471 LOW 1.29845 BID 1.30309 ASK 1.30316 CHANGE 0.35% TIME 08:14:27
OUTLOOK SUMMARY : UP
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Bullish
MARKET ANALYSIS - Intraday Analysis
Price action looks mainly consolidative on the hourly chart. Our next resistance stays at 1.3042 (R1). Market expansion towards to next targets at 1.3055 (R2) and 1.3075 (R3) looks reasonable if the price manages to overcome it.
Resistance Levels: 1.3042, 1.3055, 1.3075
Support Levels: 1.2968, 1.2958, 1.2938
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GBPUSD :
HIGH 1.60476 LOW 1.60129 BID 1.60304 ASK 1.60313 CHANGE 0.15% TIME 08:14:28
OUTLOOK SUMMARY : Sideway
TREND CONDITION : Neutral
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Bearish
The instrument does not seem to have momentum to identify clear direction. Protective measures for the upside development is seen at 1.6058 (R1). Break here would suggest next intraday targets at 1.6067 (R2) and 1.6077 (R3).
Resistance Levels: 1.6058, 1.6067, 1.6077
Support Levels: 1.6020, 1.6011, 1.5999
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USDJPY :
HIGH 82.502 LOW 82.266 BID 82.342 ASK 82.348 CHANGE -0.15% TIME 08:14:29
OUTLOOK SUMMARY : Sideway
TREND CONDITION : Neutral
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Bullish
Instrument moves in range mode. In terms of technical levels next resistance level could be found at 82.74 (R1). Appreciation above it might enable next targets at 82.84 (R2) and 81.68 (R3) in potential.
Resistance Levels: 82.74, 82.84, 82.99
Support Levels: 82.04, 81.90, 81.68
Source: FX Central Clearing Ltd, (http://www.fxcc.com