Update - Daily Technical Levels from FXCC - page 36
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Forex Technical & Market Analysis FXCC Dec 18 2012
Forex Technical & Market Analysis FXCC Dec 18 2012
Fiscal Cliff Talks Thaw
It seems that Republican stances are softening as the clock ticks down to the New Year, and the US approaches the activation of the Fiscal Cliff. In the newest round of discussions, Republican leaders led by House Speaker John Boehner have conceded to allowing a tax rate increase of earners making a minimum of $1 million. The tax rate for income in that range would increase from 36% to 39.5% under the concession.
In addition, Republicans have offered to table the $16.4 trillion debt ceiling discussion for one year. The debt ceiling debate would likely emerge early next year without any deal, sparking concern and speculation of a government shutdown. The concessions have done little to support the greenback as the Obama administration continues to press forward with its objective of raising tax rates for the top 2% of income earners – rejecting recent Republican concessions.
Forex Technical & Market Analysis: December 18 2012
Forex Economic Calendar
N/A | United Kingdom. BOE Inflation Letter
2012-12-18 09:30 GMT | United Kingdom. Consumer Price Index (YoY) (Nov)
2012-12-18 11:00 GMT | United Kingdom. BoE Quarterly Bulletin (Q4)
2012-12-18 23:50 GMT | Japan. Merchandise Trade Balance Total (Nov)
Forex News
2012-12-18 05:15 GMT | GBP/JPY range bound circa 136.00; overextended?
2012-12-18 03:51 GMT | AUD/USD retreats from RBA-induced highs
2012-12-18 02:25 GMT | EUR/AUD capped below 1.25 inside a 30 pip range
2012-12-18 01:57 GMT | USD/JPY outlook bullish on more BoJ easing anticipation – RBS
AUDUSD NZDUSD USDCHF USDCAD GBPJPY EURCHF GOLD SILVER
1.05501/510 0.84333/341 0.91764/780 0.98351/361 136.134/151 1.20860/879 1702.75/.03 32.42/.44
TECHNICAL ANALYSIS
-------------------------
EURUSD
HIGH: 1.31775 | LOW: 1.31556 | BID: 1.31717 | ASK: 1.31723 | CHANGE: 0.07% | TIME: 07:59:44
OUTLOOK SUMMARY: Up
TREND CONDITION: Sideway
TRADERS SENTIMENT: Bullish
IMPLIED VOLATILITY: Medium
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Instrument show up 0.07 % rise today and any further appreciation needs to clear barrier at 1.3179 (R1). Intraday targets could be found at 1.3198 (R2) and then at 1.3218 (R3). Downwards scenario: Market stabilized after the previous day’s gains. Market decline below the next support level at 1.3151 (S1) would suggest next targets at 1.3131 (S2) and 1.3111 (S3).
Resistance Levels: 1.3179, 1.3198, 1.3218
Support Levels: 1.3151, 1.3131, 1.3111
--------------------------------------
GBPUSD
HIGH: 1.62177 | LOW: 1.6194 | BID: 1.62118 | ASK: 1.62127 | CHANGE: 0.05% | TIME: 07:59:45
OUTLOOK SUMMARY: Up
TREND CONDITION: Up trend
TRADERS SENTIMENT: Bullish
IMPLIED VOLATILITY: Medium
Upwards scenario: Market sentiment is clearly bullish. We placed our next resistance level above the fresh high formed today at 1.6222 (R1). Above here open way towards to next targets at 1.6235 (R2) and then at 1.6249 (R3). Downwards scenario: Downside fluctuations remains for now limited to next support level at 1.6195 (S1), only clear break here would be a signal of market easing with next targets at 1.6181 (S2) and 1.6167 (S3) in potential.
Resistance Levels: 1.6222, 1.6235, 1.6249
Support Levels: 1.6195, 1.6181, 1.6167
----------------------------
USDJPY
HIGH: 84.077 | LOW: 83.828 | BID: 84.020 | ASK: 84.025 | CHANGE: 0.16% | TIME: 07:59:46
OUTLOOK SUMMARY: Up
TREND CONDITION: Upward penetration
TRADERS SENTIMENT: Bullish
IMPLIED VOLATILITY: Medium
Upwards scenario: Medium term bias is positive for the pair. Risk of market appreciation is seen above the next resistance level at 84.09 (R1). Loss here would suggest next target at 84.24 (R2) and any further rise would then be targeting 84.39 (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 83.85 (S1). We suggest next targets in such scenario at 83.71 (S2) and 83.56 (S3).
Resistance Levels: 84.09, 84.24, 84.39
Support Levels: 83.85, 83.71, 83.56
Source: FX Central Clearing Ltd,( Learn Forex Trading | ECN Forex Online Trading | Forex Trading Tips | FXCC )
Forex Technical & Market Analysis FXCC Dec 19 2012
Forex Technical & Market Analysis FXCC Dec 19 2012
Standard & Poor's upgrades Greece from selective default to B- outlook stable
Two weeks later after credit agency Standar & Poor's downgraded Greece to selective default, it has lifted again the rating to -B, two notches higher than expected back in December 05 when the initial downgrade took place, on the promise when the payback debt was finished the upgrade would come.
From today's S&P statement: “The stable outlook balances our view of euro zone member states determination to support Greece’s euro zone membership and the Greek government’s commitment to a fiscal and structural adjustment against the economic and political challenges of doing so,” the agency said. “Even after the buyback, Greece’s end-2012 net debt-to-GDP ratio of over 160 percent of GDP remains onerous,” the credit rating company stated. “Nevertheless, subject to Greece meeting program conditions, euro zone member states have said they would significantly improve official lending terms to the government.”- https://support.fxcc.com/email/technical/19122012/
Forex Economic Calendar
2012-12-19 09:00 GMT | E.M.U. IFO - Business Climate (Dec)
2012-12-19 09:30 GMT | United Kingdom. Bank of England Minutes
2012-12-19 13:30 GMT | United States. Building Permits (MoM) (Nov)
2012-12-19 21:45 GMT | Australia. Gross Domestic Product (QoQ) (Q3)
Forex News
2012-12-19 05:17 GMT | GBP/USD quiet below 1.6270, awaiting BoE Minutes
2012-12-19 04:31 GMT | EUR/AUD holds bullish scope to 1.2900 - Westpac
2012-12-19 03:35 GMT | EUR/USD set to target 50% Fibo - RBS
2012-12-19 02:01 GMT | NZD/USD breaking below 0.84 round
----------------------------
EURUSD :
HIGH 1.32558 LOW 1.32227 BID 1.32469 ASK 1.32475 CHANGE 0.14% TIME 08:21:58
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Instrument gained momentum, turning intraday bias to the positive side. Next resistance ahead is seen at 1.3258 (R1). Upwards penetration above it might drive market price towards to targets at 1.3277 (R2) and 1.3293 (R3). Downwards scenario: If the market successfully retests our support level at 1.3224 (S1), we expect further consolidation development with possible targets at 1.3207 (S2) and 1.3191 (S3). Market deviates from the uptrend formation and currently trades on the session low.
Resistance Levels: 1.3258, 1.3277, 1.3293
Support Levels: 1.3224, 1.3207, 1.3191
---------------------
GBPUSD :
HIGH 1.62666 LOW 1.62456 BID 1.62647 ASK 1.62657 CHANGE 0.08% TIME 08:21:59
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: We expect resuming of the uptrend formation if the price manages to overcome next resistance level at 1.6270 (R1). Immediate focus comes on 1.6283 (R2) and 1.6296 (R3) in such scenario. Downwards scenario: If the market participants manage to push the price below the support level at 1.6244 (S1) the instrument has an increased likelihood of failing towards to next targets at 1.6231 (S2) and 1.6218 (S3).
Resistance Levels: 1.6270, 1.6283, 1.6296
Support Levels: 1.6244, 1.6231, 1.6218
--------------------------
USDJPY :
HIGH 84.43 LOW 84.164 BID 84.344 ASK 84.349 CHANGE 0.16% TIME 08:22:00
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Upside risk aversion is seen above the resistance at 84.44 (R1). Any violation of that level would be considered as signal of possible uptrend formation towards to our targets at 84.55 (R2) and 84.66 (R3). Downwards scenario: Next immediate support locates at 84.21 (S1). Break here is required to enable bearish pressure towards to our targets at 84.10 (S2) and 83.98 (S3).
Resistance Levels: 84.44, 84.55, 84.66
Support Levels: 84.21, 84.10, 83.98
Source: FX Central Clearing Ltd,( ECN Broker | Forex Practice Account | Forex Trading Blog | FXCC )
Forex Technical & Market Analysis FXCC Dec 20 2012
Forex Technical & Market Analysis FXCC Dec 20 2012
All Eyes On Bank of Japan Following Abe Win
Now that the Japanese lower house elections are over, trader focus is being placed on the Bank of Japan’s monetary policy decision – taking place over the next two days. This decision will be important one for the underlying currency, which continues to lose against the US dollar. Since the beginning of the election campaign, LDP leader Shinzo Abe has run on the platform for further monetary easing in boosting economic growth. As a result, central bank leaders have been under extreme pressure from Abe supporters in expanding monetary policy – currently totaling $1.1 trillion.
And, now that Abe has won, further accommodation is anticipated. Expectations are now for the Bank of Japan to leave interest rates near zero, while expanding monetary policy by another $1 billion. Such a move may ultimately jeopardize the independence of the Bank of Japan, as policymakers would be falling into line with the political agenda. Incidentally, traders will be looking for a change in the inflation target set by the central bank – potentially raising it to 2% from the current 1%. This is another Abe policy that was promised as the government attempts to alleviate the current deflationary environment. -FXstreet.com
Forex Economic Calendar
2012-12-20 09:30 GMT | United Kingdom. Core Consumer Price Index (YoY) (Nov)
2012-12-20 09:30 GMT | United Kingdom. Consumer Price Index (YoY) (Nov)
2012-12-20 11:00 GMT | United Kingdom. BoE Quarterly Bulletin (Q4)
2012-12-20 23:50 GMT | Japan. Merchandise Trade Balance Total (Nov)
Forex News
2012-12-20 06:07 GMT | Will EUR/USD buyers had enough at 1.33 highs?
2012-12-20 05:29 GMT | GBP/USD set for reversal after daily pin?
2012-12-20 04:23 GMT | USD/JPY shakes both sides post-BoJ; holds above 84.00
2012-12-20 03:30 GMT | EUR/GBP undecided below 0.8150
AUDUSD NZDUSD USDCHF USDCAD GBPJPY EURCHF GOLD SILVER
1.04879 / 888 0.83594 / 609 0.91384 / 396 0.98850 / 858 136.538 / 555 1.20783 / 803 1668.34 / .62
TECHNICAL ANALYSIS
EURUSD
HIGH: 1.3229 | LOW: 1.31883 | BID: 1.32167 | ASK: 1.32172 | CHANGE : -0.07% | TIME: 08:12:57
OUTLOOK SUMMARY: Down
TREND CONDITION: Downward penetration
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Medium
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: The initial uptrend formation might be resumed later on today. Possible intraday targets locate at 1.3252 (R2) and 1.3274 (R3), in case of successful penetration above the next resistance level at 1.3231 (R1). Downwards scenario: Market still had the chance to retest the key support level at 1.3188 (S1). Any further easing below it would then face supportive measures at 1.3166 (S2) and 1.3144 (S3) in potential.
Resistance Levels: 1.3231, 1.3252, 1.3274
Support Levels: 1.3188, 1.3166, 1.3144
GBPUSD
HIGH: 1.62614 | LOW: 1.62382 | BID: 1.62509 | ASK: 1.62517 | CHANGE: 0.04% | TIME: 08:12:59
OUTLOOK SUMMARY: Down
TREND CONDITION: Downward penetration
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Medium
Upwards scenario: The pair might keep general upside move intact after possible consolidation ahead. Appreciation above the next resistance at 1.6263 (R1) would enable next targets at 1.6276 (R2) and 1.6289 (R3) in potential. Downwards scenario: In regard to the descending movement, opportunities for bearish oriented traders are seen below the support level at 1.6238 (S1). Loss here would enable next targets at 1.6225 (S2) and 1.6211 (S3).
Resistance Levels: 1.6263, 1.6276, 1.6289
Support Levels: 1.6238, 1.6225, 1.6211
USDJPY
HIGH: 84.384 | LOW: 83.859 | BID: 83.983 | ASK: 83.986 | CHANGE: -0.49% | TIME: 08:13:00
OUTLOOK SUMMARY: Down
TREND CONDITION: Downward penetration
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Medium
Upwards scenario: Our next resistance level is placed at 84.23 (R1), break above it might extend gains towards to next targets at 84.34 (R2) and 84.47 (R3) in potential. Downwards scenario: Instrument has settled negative bias on the hourly timeframe and we expect gradual decline towards to our support levels. Next attractive support level locates at 83.84 (S1). Break here is required to put in focus lower target at 83.72 (S2) and 83.59 (S3).
Resistance Levels: 84.23, 84.34, 84.47
Support Levels: 83.84, 83.72, 83.59
Source: FX Central Clearing Ltd,( ECN Forex Software | The Best Forex Broker | Forex Account | FXCC )
Forex Technical & Market Analysis FXCC Dec 21 2012
Forex Technical & Market Analysis FXCC Dec 21 2012
Boehner’s ‘Plan B’ dead on arrival
News has just hit the newswires that there will be no vote on ‘Plan B’ this evening due to lack of Republican support. Speaker John Boehner has pulled his own bill, and his office has just released a statement that says, in part: “The House did not take up the tax measure today because it did not have sufficient support from our members to pass. Now it is up to the President to work with Senator Reid [(D)] on legislation to avert the fiscal cliff.” This is significant because the Speaker could not persuade his own Republican members to back his plan against President Obama’s offers and proposals on the matter. The US dollar is well bid across the board on this news, as market participants flee to safety.
The UK government’s monthly budget update for November is on offer in the European session ahead, expected to show a deficit of £14.1B on-month, which would widen the annual deficit to £76.0B. “If realized, this is a bit larger than the annual deficit for the year ending June of -£74.2B and highlight the ongoing challenge confronting the UK government in reducing its deficit,” says Rabobank International.
https://support.fxcc.com/email/technical/21122012/
Forex Economic Calendar
2012-12-21 09:30 GMT | United Kingdom. Gross Domestic Product (YoY) (Q3)
2012-12-21 13:30 GMT | Canada. Gross Domestic Product (YoY) (Oct)
2012-12-21 13:30 GMT | United States. Durable Goods Orders (Nov)
2012-12-21 14:55 GMT | United States. Reuters/Michigan Consumer Sentiment Index (Dec)
Forex News
2012-12-21 05:40 GMT | GBP/USD support at 1.6230 next level to watch – V.Bednarik
2012-12-21 03:32 GMT | EUR/JPY stalls the decline at fresh session lows 111.62
2012-12-21 03:21 GMT | USD/JPY threatening to break below 83.80
2012-12-21 01:45 GMT | AUD/USD breaks below 1.0450 to fresh weekly lows
----------------------------------
EURUSD :
HIGH 1.32522 LOW 1.31799 BID 1.32123 ASK 1.32127 CHANGE -0.24% TIME 08 : 20:45
OUTLOOK SUMMARY : Up
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Further price appreciation might face next resistance level at 1.3227 (R1), break here is required to open way towards to targets at 1.3247 (R2) and 1.3267 (R3). Medium-term bias is still positive. Downwards scenario: Fresh low at 1.3180 (S1) acts now as important psychological support level. Decrease below it might enable bearish forces, targeting 1.3160 (S2) and 1.3141 (S3) in potential.
Resistance Levels: 1.3227, 1.3247, 1.3267
Support Levels: 1.3180, 1.3160, 1.3141
---------------------
GBPUSD :
HIGH 1.62831 LOW 1.62407 BID 1.62539 ASK 1.62549 CHANGE -0.14% TIME 08 : 20:46
OUTLOOK SUMMARY : Up
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Technically, market sentiment remains bullish and we expect further instrument appreciation on the medium-term perspective. Pair is moving towards to our next resistance level at 1.6265 (R1). Clearance here would suggest next targets at 1.6279 (R2) and 1.6292 (R3). Downwards scenario: Possibility of further correction ahead is high on the shorter-term perspective. Below the support level at 1.6240 (S1) locates initial retracement targets at 1.6226 (S2) and 1.6214 (S3).
Resistance Levels: 1.6265, 1.6279, 1.6292
Support Levels: 1.6240, 1.6226, 1.6214
------------------------------
USDJPY :
HIGH 84.443 LOW 83.858 BID 84.119 ASK 84.123 CHANGE -0.31% TIME 08 : 20:47
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: USDJPY did not find priority in direction yet. Climb above the next resistance level at 84.23 (R1) might provide market with sufficient bullish power and attack next targets at 84.35 (R2) and 84.47 (R3) later on today. Downwards scenario: Next attractive level for the downside development locates at 83.83 (S1). Loss here might take the pair towards to eventual targets at 83.72 (S2) and 83.59 (S3).
Resistance Levels: 84.23, 84.35, 84.47
Support Levels: 83.83, 83.72, 83.59
Source: FX Central Clearing Ltd, (ECN Forex Broker | ECN Forex Trading Platform | Foreign Currency Exchange | Best Currency Online Trading | FXCC)
Forex Technical & Market Analysis FXCC Dec 24 2012
Forex Technical & Market Analysis FXCC Dec 24 2012
Boehner’s ‘Plan B’ bill vote canceled
News has hit the newswires that there will be no vote on ‘Plan B’ this evening due to lack of Republican support. Speaker John Boehner has pulled his own bill, and his office has just released a statement that says, in part: “The House did not take up the tax measure today because it did not have sufficient support from our members to pass. Now it is up to the President to work with Senator Reid [(D)] on legislation to avert the fiscal cliff.” This is significant because the Speaker could not persuade his own Republican members to back his plan against President Obama’s offers and proposals on the matter. The US dollar is well bid across the board on this news, as market participants flee to safety.
The Republican-lead House of Representatives on Capitol Hill is moving ahead with a bill aimed at pressuring President Obama for a “fiscal cliff” deal. A second vote on taxes is expected later this evening; the House is in recess for now, but the Ways and Means staff is said to be on the floor ready for the tax debate to begin. In the end, even if House Speaker John Boehner’s “Plan B” were to pass, political analysts say that it stands no chance of being accepted by the Democratic-lead Senate or by the President. Time is quickly running out for US lawmakers to reach a deal to prevent a self-inflicted economic recession. At the time of writing, the U.S. dollar is finding buying interest across the board, likely underpinned by this sour mood surrounding the “fiscal cliff” developments, and on news that S&P has just downgraded Cyprus’ foreign long-term issuer credit rating to CCC+ from B. –
Forex Technical & Market Analysis: December 24 2012
Forex Economic Calendar
2012-12-24 02:00 GMT | New Zealand.M3 Money Supply (YoY) (Nov)
2012-12-24 11:00 GMT | Ireland. Retail Sales (MoM) (Nov)
2012-12-24 11:00 GMT | Ireland.Retail Sales (YoY) (Nov)
2012-12-24 23:50 GMT | Japan.Corporate Service Price (YoY) (Nov)
Forex News
2012-12-24 03:09 GMT | EUR/USD quiet below 1.32
2012-12-24 02:31 GMT | AUD/JPY below 88 +11% YTD
2012-12-24 02:00 GMT | USD/JPY looking for upside break of 84.60
2012-12-24 00:45 GMT | AUD/USD below 1.04 ahead of Christmas Eve
TECHNICAL ANALYSIS
----------------------------
EURUSD
HIGH: 1.31851 | LOW: 1.31712 | BID: 1.31815 | ASK: 1.31825 | CHANGE: 0% | TIME: 08:04:49
OUTLOOK SUMMARY: Downward penetration
TREND CONDITION: Up trend
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Low
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Next on tap, resistance level at 1.3208 (R1). A break higher could open the door for an attack to next target at 1.3233 (R2) and final immediate resistance is seen at 1.3255 (R3). Downwards scenario: On the other hand, a dip below the support level at 1.3149 (S1) would clear the way towards to next targets at 1.3122 (S2) and 1.3097 (S3) in potential.
Resistance Levels: 1.3208, 1.3233, 1.3255
Support Levels: 1.3149, 1.3122, 1.3097
-------------------------------
GBPUSD
HIGH: 1.61745 | LOW: 1.61424 | BID: 1.61733 | ASK: 1.61746 | CHANGE: 0.04% | TIME: 08:04:50
OUTLOOK SUMMARY: Up
TREND CONDITION: Up trend
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Low
Upwards scenario: Market sentiment is clearly bearish and upside movement is limited to resistance level at 1.6194 (R1). Surpassing of this level might enable next target at 1.6215 (R2) and any further gain would then be limited by last resistance at 1.6235 (R3). Downwards scenario: Break below the support at 1.6148 (S1), would signal an end of retracement phase and open way for downtrend formation on the medium-term perspective. Possible targets could be found at 1.6129 (S2) and 1.6109 (S3).
Resistance Levels: 1.6194, 1.6215, 1.6235
Support Levels: 1.6148, 1.6129, 1.6109
-------------------------
USDJPY
HIGH: 84.494 | LOW: 84.322 | BID: 84.360 | ASK: 84.366 | CHANGE: 0.14% | TIME: 08:04:51
OUTLOOK SUMMARY: Up
TREND CONDITION: Up trend
TRADERS SENTIMENT: Bullish
IMPLIED VOLATILITY: Low
Upwards scenario: On the bigger picture trend still is pointing up. Targets at 84.57 (R2) and 84.69 (R3) might be attractive for the uptrend penetration if the price manages to break our next resistance level at 84.45 (R1). Downwards scenario: In regard to the descending movement, opportunities for bearish oriented traders are seen below the support level at 84.10 (S1). Loss here would enable next supports at 84.00 (S2) and 83.88 (S3).
Resistance Levels: 84.45, 84.57, 84.69
Support Levels: 84.10, 84.00, 83.88
Source: FX Central Clearing Ltd,( ECN Broker Account | Currency Converter | Forex Blog | FXCC )
Forex Technical & Market Analysis FXCC Dec 26 2012
Forex Technical & Market Analysis FXCC Dec 26 2012
Year In Preview: What Will 2013 Bring for the Euro?
Another year has gone by and a lot has happened in the last twelve months, even as the European financial crisis continues to persist. But, taking a look at the next twelve months, and it’s easy to see that things are going to be that much calmer for the single currency in 2013. Here are some things to consider when January 1st rolls around. Shift in ECB Policy With European Union growth remaining lower for most of 2012, the European Central Bank has refrained from cutting rates amid persistently higher inflation. Although not rampant, the pace of consumer prices has risen by 2.2-2.5% annually in 2012 – a cause for at least some concern and a stay on rates. However, with inflation set to decline once again on slower growth, ECB policymakers may be at a favorable point in time to execute a rate cut of 25 basis points. The notion is being supported by growth forecasts by the central bank that pit EU contraction at about 0.3% for all of next year.
The rate cut would be bearish for the Euro in the short term, but at least support the chance for growth in the wider EU region as periphery economies are expected to contribute handsomely to the decline in overall expansion.
Forex Technical & Market Analysis: December 26 2012
Forex Economic Calendar
2012-12-26 13:55 GMT | USA.Redbook index (YoY)
2012-12-26 13:55 GMT | USA.Redbook index (MoM)
2012-12-26 14:00 GMT | USA.S&P/Case-Shiller Home Price Indices (YoY) (Oct)
2012-12-26 15:00 GMT | USA.Richmond Fed Manufacturing Index (Dec)
Forex News
2012-12-24 19:27 GMT | EUR/USD ends the day unchanged
2012-12-24 18:12 GMT | GBP/USD to end the year around 1.63 - Rabobank
2012-12-24 15:21 GMT | EUR/JPY hits 112.00 as investors price in comments from Japan
2012-12-24 15:06 GMT | AUD/USD trading near calculated support at 1.0385/87
-------------------
EURUSD :
HIGH 1.32332 LOW 1.31712 BID 1.31783 ASK 1.31787 CHANGE 0% TIME 08:23:45
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Next resistance level at 1.3217 (R1) locates above the local peak. Break here is required to enable next target at 1.3231 (R2) and any further rise would then be limited to 1.3246 (R3). Downwards scenario: Loss of next support at 1.3162 (S1) might drive market price towards to the next targets at 1.3148 (S2) and 1.3134 (S3).
Resistance Levels: 1.3217, 1.3231, 1.3246
Support Levels: 1.3162, 1.3148, 1.3134
------------------------
GBPUSD :
HIGH 1.62061 LOW 1.61009 BID 1.61202 ASK 1.61212 CHANGE 0% TIME 08:23:46
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low
Upwards scenario: Any upwards formation today is limited to resistive measures at 1.6149 (R1). A break above it would suggest next target at 1.6165 (R2). If the price holds its momentum we can expect a further rise towards to 1.6177 (R3). Downwards scenario: Further decline is possible below the next support level at 1.6109 (S1). Expected targets locate at 1.6097 (S2) and XX1.6084 (S3) in potential.
Resistance Levels: 1.6149, 1.6165, 1.6177
Support Levels: 1.6109, 1.6097, 1.6084
-------------------
USDJPY :
HIGH 84.865 LOW 84.322 BID 84.785 ASK 84.793 CHANGE 0% TIME 08:23:48
OUTLOOK SUMMARY: Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low
Upwards scenario: The short- term tendency is bullish as both moving averages are pointing up. Next resistance level is seen at 84.89 (R1), clearance here would open way for strengthening towards to next targets at 85.15 (R2) and 85.36 (R3). Downwards scenario: Retracement development is limited to the next support level at 84.61 (S1). Clearance here would open road towards to possible targets, located at 84.45 (S2) and 84.33 (S3).
Resistance Levels: 84.89, 85.15, 85.36
Support Levels: 84.61, 84.45, 84.33
Source: FX Central Clearing Ltd,( ECN Broker List | Forex Trading Account | Currency Converter | FXCC )
Forex Technical & Market Analysis FXCC Dec 28 2012
Forex Technical & Market Analysis FXCC Dec 28 2012
Fiscal cliff looms as US lawmakers play game of brinkmanship
The "fiscal cliff" steadfastly approaches and it is a fair assumption that no one will come up with a deal in time to stop the country from careening off the edge. Nearly everyone involved claims they want to avoid the automatic tax increases and colossal budget cuts that will start kicking in at the start of 2013, however few are ready to make the compromises necessary to make that happen.
As expected, anti-tax purists in the House Republican Caucus have gotten in the way of Speaker John A. Boehners attempts to come up with a fix for the fiscal cliff. Last week, he withdrew his doomed Plan B rather than let it go to a vote he knew he would lose. Democrats were united in their opposition, though what ultimately killed the scheme was the refusal of conservatives in Boehner’s own caucus to go along with a tax increase for millionaires. Boehner now seems to have washed his hands of responsibility and says it is up to the president and Democrats in the Senate to save the country from the New Year’s program cuts and tax increases that will come so fast and furiously that the economy could suffer. President Obama cut short his Hawaii vacation to return to the snow-covered capital hoping to concoct a last-minute deal in the eleventh hour. -FXstreet.com
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Forex Economic Calendar
2012-12-28 **:00 GMT | Italy. 10-y Bond Auction
2012-12-28 07:45 GMT | France. Gross Domestic Product (YoY) (Q3)
2012-12-28 15:00 GMT | United States. Pending Home Sales (YoY) (Nov)
2012-12-28 16:00 GMT | United States. EIA Crude Oil Stocks change (Dec 21)
Forex News
2012-12-28 04:21 GMT EUR/JPY stalling below 114.70 around fresh 16-month highs
2012-12-28 02:12 GMT EUR/USD below 1.3250 waiting for a 'fiscal cliff' outcome, what else?
2012-12-28 00:56 GMT USD/JPY shooting up above 86.50 on extreme overbought readings
2012-12-27 20:12 GMT USD/CAD reaches 1-month high
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EURUSD :
HIGH 1.32527 LOW 1.32295 BID 1.32420 ASK 1.32426 CHANGE 0.06% TIME 07:51:55
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Price action looks mainly consolidative, though violation of our resistance at 1.3253 (R1) would be a signal of possible uptrend formation with next targets ahead at 1.3264 (R2) and 1.3276 (R3). Downwards scenario: Depreciation below the support at 1.3227 (S1) might trigger correction formation towards to next targets at 1.3215 (S2) and 1.3203 (S3)
Resistance Levels: 1.3253, 1.3264, 1.3276
Support Levels: 1.3227, 1.3215, 1.3203
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GBPUSD :
HIGH 1.61211 LOW 1.60981 BID 1.61189 ASK 1.61199 CHANGE 0.13% TIME 07:51:56
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: Market sentiment looks neutral and upside movement is limited to resistance level at 1.6127 (R1). Surpassing of this level might enable next target at 1.6139 (R2) and any further gain would then be limited to last resistance at 1.6152 (R3). Downwards scenario: A break below the support at 1.6102 (S1) would allow bears remaining in play on the medium-term perspective. Next targets could be found at 1.6090 (S2) and 1.6078 (S3).
Resistance Levels: 1.6127, 1.6139, 1.6152
Support Levels: 1.6102, 1.6090, 1.6078
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USDJPY :
HIGH 86.629 LOW 86.066 BID 86.450 ASK 86.458 CHANGE 0.41% TIME 07:51:57
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: USDJPY might find buyers above the important resistance level at 86.63 (R1). Break here would open route towards to our next targets at 86.80 (R2) and 86.63 (R3). Downwards scenario: While instrument trades below the next resistance level, our intraday bias forecast would be negative. Penetration below the support level at 86.14 (S1) might open way towards to lower targets at 85.95 (S2) and 85.75 (S3).
Resistance Levels: 86.63, 86.80, 86.98
Support Levels: 86.14, 85.95, 85.75
Source: FX Central Clearing Ltd,( FX Central Clearing Ltd )
Forex Technical & Market Analysis FXCC Dec 31 2012
Forex Technical & Market Analysis FXCC Dec 31 2012
Time running short for ‘fiscal cliff’ deal
Well, it looks like negotiations on Capitol Hill are still ongoing and far apart to avoid January’s “fiscal cliff”, as the House and Senate are to reconvene later today, the final day for Congress to craft a resolution prior to the deadline. In a Sunday talk show, President Obama stated clearly that it appears the GOP’s top priority is to protect the tax rates for the wealthy, while his top priority is to ensure that taxes on the middle-class do not go up. Although the President says he remains optimistic, he also acknowledges that financial markets would be unfavorably impacted if the US economy stumbles off of the cliff.
As Kathy Lien, Managing Director at BK Asset Management explains in a research note: “If it becomes evident that a deal will be deferred to January, expect currencies and equities to sell-off in disappointment. With some major currencies pulling back and equities declining, we have already seen investors take profit and hedge their positions ahead of the Fiscal Cliff deadline. If Obama announces a stripped down plan and expresses confidence that a deal will be sealed by end of day Monday, we can expect currencies and equities to rally in relief.”
Forex Technical & Market Analysis: December 31 2012
Forex Economic Calendar
2012-12-31 10:00 GMT | Greece.Retail Sales (YoY) (Oct)
2012-12-31 11:30 GMT | India.Current Account Balance $ (Q3)
2012-12-31 12:00 GMT | South Africa.Trade Balance (in Rands) (Nov)
2012-12-31 15:30 GMT | USA.Dallas Fed Manufacturing Business Index (Dec)
Forex News
2012-12-31 05:53 GMT | EUR/USD ending 2012 +2% higher after all
2012-12-31 05:03 GMT | Time running short for ‘fiscal cliff’ deal
2012-12-31 03:26 GMT | USD/JPY capped at 86 round with Tokyo closed
2012-12-31 02:17 GMT | AUD/JPY finishing 2012 above 89.00
TECHNICAL ANALYSIS
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EURUSD
HIGH: 1.32345 | LOW: 1.31879 | BID: 1.31993 | ASK: 1.32000 | CHANGE: -0.13% | TIME: 08 : 02:34
OUTLOOK SUMMARY: Down
TREND CONDITION: Sideway
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Low
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: We expect resuming of the uptrend formation if the price manages to overcome next resistance level at 1.3215 (R1). Immediate focus comes on 1.3233 (R2) and 1.3250 (R3) in such scenario. Downwards scenario: Price setup is looking for a pullback development. Downside fluctuations remains for now limited to next support level at 1.3187 (S1), only clear break here would be a signal of market easing with next targets at 1.3165 (S2) and 1.3143 (S3).
Resistance Levels: 1.3215, 1.3233, 1.3250
Support Levels: 1.3187, 1.3165, 1.3143
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GBPUSD
HIGH: 1.61731 | LOW: 1.61507 | BID: 1.61551 | ASK: 1.61561 | CHANGE: -0.06% | TIME: 08 : 02:35
OUTLOOK SUMMARY: Down
TREND CONDITION: Down trend
TRADERS SENTIMENT: Bullish
IMPLIED VOLATILITY: Low
Upwards scenario: The pair might face key resistive bastion at 1.6169 (R1). A break above it might activate upside pressure and suggest the short-term targets at 1.6177 (R2) and 1.6186 (R3). Downwards scenario: Break below the support at 1.6152 (S1), would signal an end of retracement phase and open way for downtrend formation on the medium-term perspective. Possible targets could be found at 1.6144 (S2) and 1.6136 (S3).
Resistance Levels: 1.6169, 1.6177, 1.6186
Support Levels: 1.6152, 1.6144, 1.6136
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USDJPY
HIGH: 86.173 | LOW: 85.696 | BID: 86.144 | ASK: 86.152 | CHANGE: 0.2% | TIME: 08 : 02:36
OUTLOOK SUMMARY: Downward penetration
TREND CONDITION: Up trend
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Low
Upwards scenario: The pair might keep general upside move intact after some stabilization ahead. Appreciation above the next resistance at 86.24 (R1) would enable next targets at 86.38 (R2) and 86.55 (R3) in potential. Downwards scenario: Bearish penetration below the support at 85.90 (S1) might determine negative sentiment for the remaining of the day with possible targets in focus at 85.77 (S2) and 85.64 (S3) intraday.
Resistance Levels: 86.24, 86.38, 86.55
Support Levels: 85.90, 85.77, 85.64
Source: FX Central Clearing Ltd,( ECN FX Broker Platform | Forex Account | Currency Converter | FXCC )
Forex Technical & Market Analysis FXCC Jan 02 2013
Forex Technical & Market Analysis FXCC Jan 02 2013
US House passes fiscal cliff bill
After weeks of talks and negotiations, the House of Representatives has finally passed the fiscal cliff bill, with the ‘yea’ votes obtained surpassing the 217 threshold needed to approve the fiscal deal. The final vote count stood at 257-167 in favour of the bill. President Obama is ready to sign it into law.
The compromise, which first was agreed by Senate in early Tuesday morning, has come not without some last minute agitated negotiation disputes, in which Republicans wanted to challenge the approved senate-bill by sending it back for revision demanding additional spending cuts, with reports initially suggesting that the House Republicans would be adjourning any decision until Wednesday. Pending the signature of President Obama, expected to be done shortly, the US officially avoids that millions of citizens suffer tax hikes and spending reductions, which would have brought the U.S. economy into recession according to economists’ projections. Worth not forgetting though, is that still plentiful of unresolved pressing issues remain, with the most immediate being the need to raise the federal borrowing limit, with the deadline over 2 month from now.
Forex Technical & Market Analysis: January 01 2013
Forex Economic Calendar
2013-01-02 08:58 GMT | E.M.U. Markit Manufacturing PMI (Dec)
2013-01-02 09:28 GMT | United Kingdom. Markit Manufacturing PMI (Dec)
2013-01-02 13:00 GMT | Germany. Consumer Price Index (YoY) (Dec)
2013-01-02 15:00 GMT | United States. ISM Manufacturing PMI (Dec)
Forex News
2013-01-02 05:57 GMT | EUR/GBP holding upside bias above 0.8100
2013-01-02 04:52 GMT | USD/JPY above 87, most extreme overbought level since 2001
2013-01-02 03:50 GMT | USD/CAD drops below 0.99 on ‘cliff’ hopes
2013-01-02 03:00 GMT | GBP/USD breaks 1.63 ahead of House vote
TECHNICAL ANALYSIS
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EURUSD
HIGH: 1.32993 | LOW: 1.31873 | BID: 1.32729 | ASK: 1.32737 | CHANGE: 0.58% | TIME: 08 : 01:28
OUTLOOK SUMMARY: Up
TREND CONDITION: Upward penetration
TRADERS SENTIMENT: Bullish
IMPLIED VOLATILITY: Medium
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Instrument might find buyers above the resistance at 1.3276 and moves to the next targets at 1.3285 and 1.3295 in case of sufficient momentum. Downwards scenario: Consolidation development might keep bears in play for eventual targets at 1.3243 and 1.3233 if the market participants mange to push through our next support level at 1.3252.
Resistance Levels: 1.3276, 1.3285, 1.3295
Support Levels: 1.3252, 1.3243, 1.3233
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GBPUSD
HIGH: 1.63804 | LOW: 1.62277 | BID: 1.63200 | ASK: 1.63215 | CHANGE: 0.43% | TIME: 08 : 01:29
OUTLOOK SUMMARY: Up
TREND CONDITION: Up trend
TRADERS SENTIMENT: Bullish
IMPLIED VOLATILITY: Medium
Upwards scenario: The next hurdle on the upside lies at 1.6381, any uptrend action above it would put in focus resistance barrier at 1.6402 as the near-term target. Next on tap final resistance at 1.6422. Downwards scenario: Today portion of the economic data releases might have significant effect on the price action, the 1.6292 mark is key support level in near-term perspective. Below here opens way towards to expected targets at 1.6270 and 1.6248.
Resistance Levels: 1.6381, 1.6402, 1.6422
Support Levels: 1.6292, 1.6270, 1.6248
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USDJPY
HIGH: 87.294 | LOW: 86.538 | BID: 87.211 | ASK: 87.222 | CHANGE: 0.68% | TIME: 08 : 01:30
OUTLOOK SUMMARY: Up
TREND CONDITIONP: Up trend
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Medium
Upwards scenario: Next actual resistance level is seen at 87.29. If the market manages to surge higher, focus might returned to the target at 87.45 and further uptrend formation could be exhausted at 87.61 intraday. Downwards scenario: Market gains momentum during the Asian session and consolidation formation looks reasonable. Next supportive measure is seen at 86.90. Break through here might offer bearish signal and expose intraday targets at 86.73 and 86.55.
Resistance Levels: 87.29, 87.45, 87.61
Support Levels: 86.90, 86.73, 86.55
Source: FX Central Clearing Ltd,( Forex Training | Currency Converter | ECN Forex Trading Accounts | FXCC )
Forex Technical & Market Analysis FXCC Jan 03 2013
Forex Technical & Market Analysis FXCC Jan 03 2013
Congress Passes Fiscal Cliff Deal – The Breakdown
In a final hour maneuver, Congressional leaders brokered a deal that will allow the US economy to avert the Fiscal Cliff and alleviate pressure on the financial markets. The passage is being considered by some to be a victory for US President Barack Obama. But, by others, it shifts the focus to mid February when discussions are likely to begin over the impending debt ceiling.
With the bill set to be signed into law by US President Barack Obama, focus has now shifted to the impending debt ceiling debate – likely to begin in mid-February. The concern remains over the fact that Democratic leaders will need to make further concessions on spending to Republicans in order to allow an extension of the $16.4 trillion ceiling. An inability to do so would plunge the government into a plausible shutdown. This will likely include cutbacks in entitlement spending and other programs in order to equalize Republican concessions for the Fiscal Cliff deal.
Forex Technical & Market Analysis: January 03 2013
Forex Economic Calendar
2013-01-03 08:55 GMT | Germany. Unemployment Change (Dec)
2013-01-03 09:30 GMT | United Kingdom. PMI Construction (Dec)
2013-01-03 13:30 GMT | United States. Initial Jobless Claims (Dec 29)
2013-01-03 19:00 GMT | United States. FOMC Minutes
Forex News
2013-01-03 05:39 GMT | EUR/GBP struggling to maintain above 0.8100
2013-01-03 05:23 GMT | GBP/USD holding above 1.6200 as Europe approaches
2013-01-03 03:18 GMT | EUR/USD loses 1.3150; stalls at 21-DMA
2013-01-03 03:12 GMT | GBP/AUD finding support at 200 day SMA 1.5450
TECHNICAL ANALYSIS
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EURUSD
HIGH: 1.31903 | LOW: 1.31238 | BID: 1.31371 | ASK: 1.31377 | CHANGE: -0.36% | TIME: 07 : 48:13
OUTLOOK SUMMARY: Down
TREND CONDITION: Downward penetration
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: High
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Hourly chart correction is possible above the next resistance level at 1.3170 (R1). Next initial targets locate at 1.3189 (R2) and 1.3208 (R3). Downwards scenario: There’s a negative bias that pressures our next support level at 1.3121 (S1). Loss here might enable further market downgrade towards to expected targets at 1.3104 (S2) and 1.3086 (S3).
Resistance Levels: 1.3170, 1.3189, 1.3208
Support Levels: 1.3121, 1.3104, 1.3086
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GBPUSD
HIGH: 1.62551 | LOW: 1.62014 | BID: 1.62219 | ASK: 1.62231 | CHANGE: -0.19% | TIME: 07 : 48:14
OUTLOOK SUMMAR: Down
TREND CONDITION: Downward penetration
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: High
Upwards scenario: Our next resistance level is placed at 1.6258 (R1). Progress above it might enable next step of uptrend development and expose our targets at 1.6277 (R2) and 1.6295 (R3). Downwards scenario: Retracement development is limited to the next support level at 1.6201 (S1). Clearance here might change trader’s sentiment to bearish and open road towards to next targets, located at 1.6183 (S2) and 1.6164 (S3).
Resistance Levels: 1.6258, 1.6277, 1.6295
Support Levels: 1.6201, 1.6183, 1.6164
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USDJPY
HIGH: 87.356 | LOW: 87.092 | BID: 87.264 | ASK: 87.269 | CHANGE: -0.08% | TIME: 07 : 48:15
OUTLOOK SUMMARY: Up
TREND CONDITION: Up trend
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Medium
Upwards scenario: Market remains bullish oriented and next hurdle lies above the local high at 87.39 (R1).If the break occurs above it, next attractive level could be found 87.59 (R2) and any further rise would then be limited to 87.80 (R3). Downwards scenario: After the appreciation, provided yesterday price is stabilized and correction forces are possible below the support level at 86.96 (S1). Clearance here would suggest next target at 86.75 (S2). If the price holds its momentum on the downside we suggest final target for today at 86.55 (S3).
Resistance Levels: 87.39, 87.59, 87.80
Support Levels: 86.96, 86.75, 86.55
Source: FX Central Clearing Ltd, (ECN Forex Broker | ECN Forex Trading Platform | Foreign Currency Exchange | Best Currency Online Trading | FXCC)