Update - Daily Technical Levels from FXCC - page 51
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Forex Technical & Market Analysis FXCC Jul 25 2013
Forex Technical & Market Analysis FXCC Jul 25 2013
Greece one step away from bailout payment
According to the German finance ministry, Greece has completed 21 out of the 22 measures required by the international lenders in exchange for the next bailout payment. The country still has to implement the “mobility scheme” which involves a transfer or dismissal of 12,500 public workers within a year. The measure is expected to be fulfilled until tomorrow. Ryan Littlestone from ForexLive believes that the Troika will finally approve the next bailout payment for Greece, despite the impediments: “Seeing as they've never backed down from hand over cash to Greece there's little chance of this episode failing.”
https://support.fxcc.com/email/technical/25072013/
FOREX ECONOMIC CALENDAR :
2013-07-25 08:30 GMT | UK. Gross Domestic Product (YoY)
2013-07-25 12:30 GMT | USA. Durable Goods Orders (Jun)
2013-07-25 12:30 GMT | USA. Initial Jobless Claims
2013-07-25 23:30 GMT | Japan. National Consumer Price Index (YoY)
FOREX NEWS :
2013-07-25 04:53 GMT | EUR/USD rally paused for a day. More upside to come or is correction just starting?
2013-07-25 04:45 GMT | USD/CAD eyes 1.0660 as next target - JPMorgan
2013-07-25 04:30 GMT | GBP/USD holds above 1.53 ahead of UK GDP
2013-07-25 02:57 GMT | USD/JPY slipping Thursday after a bounce on Wednesday; major resistance looms
-----------------
EURUSD :
HIGH 1.3221 LOW 1.31877 BID 1.32137 ASK 1.32140 CHANGE 0.1% TIME 08 : 32:34
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Recent price acceleration on the upside suggests short-term positive bias. Possible penetration above the resistance level at 1.3230 (R1) is liable to open way towards to our initial targets at 1.3248 (R2) and 1.3264 (R3). Downwards scenario: Risk of price depreciation is seen below the support level at 1.3197 (S1). A fall below it might prolong medium-term weakness towards to next support at 1.3180 (S2) and any further market decline would then be targeting final support at 1.3162 (S3).
Resistance Levels: 1.3230, 1.3248, 1.3264
Support Levels: 1.3197, 1.3180, 1.3162
----------------------
GBPUSD :
HIGH 1.53442 LOW 1.5305 BID 1.53378 ASK 1.53387 CHANGE 0.17% TIME 08 : 32:35
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: A violation of next resistance at 1.5352 (R1) might call for a run towards to next target at 1.5375 (R2) and any further appreciation would then be limited to final target at 1.5397 (R3). Downwards scenario: Possible downside expansion is limited to the next support level at 1.5324 (S1). Break here is required to open way towards to initial targets at 1.5301 (S2) and 1.5278 (S3).
Resistance Levels: 1.5352, 1.5375, 1.5397
Support Levels: 1.5324, 1.5301, 1.5278
----------------------
USDJPY :
HIGH 100.456 LOW 99.876 BID 99.972 ASK 99.974 CHANGE -0.27% TIME 08 : 32:36
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Possible upwards formation is limited to resistive measure at 100.06 (R1). A break above it would suggest next intraday target at 100.18 (R2) and if the price holds its momentum we can expect price increase towards to final resistance at 100.30 (R3). Downwards scenario: In order to prolong downside extension, USDJPY should successfully retest our support level at 99.86 (S1). Below it locates our intraday targets at 99.74 (S2) and 99.62 (S3).
Resistance Levels: 100.06, 100.18, 100.30
Support Levels: 99.86, 99.74, 99.62
Source: FX Central Clearing Ltd,( http://www.fxcc.com )
Forex Technical & Market Analysis FXCC Jul 26 2013
Forex Technical & Market Analysis FXCC Jul 26 2013
What does Japan CPI rise mean for the BoJ?
In a clear sign of temporary victory by 'Abenomics' radical policies, Japan printed the sharpest rise in core inflation in almost 5 years, with the read out at +0.4% y/y vs 0.3% exp. The rest of indicators were also encouraging. ne of the top priorities by Japan is to end a 15-year deflation cycle, so that the country can start to develop a self-sustaining recovery. In large part, this is the main reason behind the radical ultra-loose monetary policy being currently deployed by the BoJ, which has committed to double the amount the central bank purchases in Japanese government debt. The country will continue to actively assess how these increases in price pressure - still minimal - are having an impact on the mindset of the population, potentially leading to support more credit, spending and rise in salaries. However, as IFR Markets Editor Amanda Tan notes, "a planned sales tax hike in April next year - from 5% to 8% - poses a downside risk to spending & sentiment, particularly if wages don't start to rise."
https://support.fxcc.com/email/technical/26072013/
FOREX ECONOMIC CALENDAR :
2013-07-26 06:00 GMT | Germany. Import Price Index
2013-07-26 06:00 GMT | UK. Nationwide Housing Prices n.s.a
2013-07-26 13:55 GMT | USA. Reuters/Michigan Consumer Sentiment Index
FOREX NEWS :
2013-07-26 04:58 GMT | EUR/GBP lurking below Fibonacci resistance at 0.8631 and 0.8646 ahead of data
2013-07-26 04:28 GMT | GBP/USD pares all loses post-UK GDP dump
2013-07-26 02:46 GMT | EUR/USD higher on the back of broad USD weakness
2013-07-26 02:43 GMT | USD/JPY breaking lower, lowest at 98.70
----------------------------
EURUSD :
HIGH 1.32889 LOW 1.32687 BID 1.32787 ASK 1.32790 CHANGE 0.02% TIME 08:36:57
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EURUSD commenced new step of uptrend formation. Possibility of further market appreciation is seen above the resistance level at 1.3296 (R1). Break here is required to validate next targets at 1.3316 (R2) and 1.3336 (R3). Downwards scenario: Any downside extension is limited now to the next support level at 1.3257 (S1). Below here we see potential for the price acceleration towards to next targets at 1.3237 (S2) and 1.3217 (S3).
Resistance Levels: 1.3296, 1.3316, 1.3336
Support Levels: 1.3257, 1.3237, 1.3217
----------------------
GBPUSD :
HIGH 1.54058 LOW 1.53732 BID 1.53913 ASK 1.53920 CHANGE 0.03% TIME 08:36:57
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: While price is traded above the moving averages short-term bias would be considered as bullish. Next on tap is resistive barrier at 1.5419 (R1) on the way towards to higher targets at 1.5445 (R2) and 1.5470 (R3). Downwards scenario: On the other hand, break below the support at 1.5370 (S1) is required to enable further market decline. Our next supportive measures locates at 1.5343 (S2) and 1.5316 (S3).
Resistance Levels: 1.5419, 1.5445, 1.5470
Support Levels: 1.5370, 1.5343, 1.5316
-------------------------
USDJPY :
HIGH 99.402 LOW 98.626 BID 98.766 ASK 98.771 CHANGE -0.52% TIME 08:36:58
OUTLOOK SUMMARY : Down
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: USDJPY gained momentum on the downside and likely will close on the negative territory today. However clearance of our next resistive structure at 98.94 (R1) would open way towards to our initial target at 99.11 (R2) and any further market rise would then be targeting 99.29 (R3). Downwards scenario: On the other side, a dip below the initial support level at 98.53 (S1) is liable to trigger protective orders execution and drive market price towards to supportive means at 98.38 (S2) and 98.21 (S3).
Resistance Levels: 98.94, 99.11, 99.29
Support Levels: 98.53, 98.38, 98.21
Source: FX Central Clearing Ltd,( http://www.fxcc.com )
Forex Technical & Market Analysis FXCC Jul 29 2013
Forex Technical & Market Analysis FXCC Jul 29 2013
Japan's PM Abe rethinks sales tax hike; inflation case strengthens?
Japan's most significant fiscal reform in years, that is, a planned hike from 5% to 8% in sales tax by April 2014, faces the prospects of being delayed or watered down as concerns mount the tax increase may do more harm than good to the delicate economic recovery in the country. According to a report from Reuters earlier on Monday: "PM Abe says he will decide in the autumn whether to proceed with the first part of the two-stage plan after gauging the state of the economic recovery, especially GDP data that is due on Sept 9."
https://support.fxcc.com/email/technical/29072013/
FOREX ECONOMIC CALENDAR :
N/A | Bank of Japan Governor Kuroda Speech
2013-07-29 08:30 GMT | UK. Mortgage Approvals
2013-07-29 14:00 GMT | US. Pending Home Sales (YoY)
2013-07-29 23:50 GMT | Japan. Industrial Production (YoY)
FOREX NEWS :
2013-07-29 05:20 GMT | USD/JPY pulling back after Kuroda headlines make the rounds
2013-07-29 04:50 GMT | GBP/USD capped below big 1.54 figure
2013-07-29 04:44 GMT | EUR/USD approaching flat line for the session after initial upside
2013-07-29 04:09 GMT | AUD/JPY hovering above Friday’s lows of 90.56. Target 89.39, but will it bounce first?
EURUSD
HIGH 1.32936 LOW 1.32735 BID 1.32770 ASK 1.32775 CHANGE -0.01% TIME 08:34:38
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Market took a breath after last days gains. Though possible clearance of our next resistive barrier at 1.3297 (R1) would suggest next intraday targets at 1.3316 (R2) and 1.3333 (R3) in potential. Downwards scenario: Fractal level, formed on the 24-07-2013 provides an important supportive mark at 1.3256 (S1). Any penetration below this level would suggest next targets at 1.3237 (S2) and 1.3217 (S3) in potential.
Resistance Levels: 1.3297, 1.3316, 1.3333
Support Levels: 1.3256, 1.3237, 1.3217
--------------------------
GBPUSD :
HIGH 1.54043 LOW 1.53747 BID 1.53816 ASK 1.53823 CHANGE 0.08% TIME 08:34:39
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: Further positive bias development would face next resistive measure at 1.5419 (R1). If the price manages to overcome it we would suggest next intraday targets at 1.5445 (R2) and 1.5470 (R3). Downwards scenario: Possible recovery action might get acceleration below the support level at 1.5370 (S1). Loss here would suggest next intraday target at 1.5343 (S2) and any weakening below it would then be limited to final support at 1.5316 (S3).
Resistance Levels: 1.5419, 1.5445, 1.5470
Support Levels: 1.5370, 1.5343, 1.5316
-------------------------
USDJPY :
HIGH 98.34 LOW 97.633 BID 97.880 ASK 97.880 CHANGE -0.37% TIME 08:34:40
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Medium term bias remains negative and possible price appreciation is limited to resistive barrier at 98.21 (R1). Prolonged movement above that level would suggest next intraday targets at 98.46 (R2) and 98.71 (R3). Downwards scenario: Further market weakening is protected by important technical level at 97.63 (S1). Break here is required to open road towards to interim target at 97.39 (S2) en route to final aim at 97.14 (S3).
Resistance Levels: 98.21, 98.46, 98.71
Support Levels: 97.63, 97.39, 97.14
Source: FX Central Clearing Ltd,( http://www.fxcc.com )
Forex Technical & Market Analysis FXCC Jul 30 2013
Forex Technical & Market Analysis FXCC Jul 30 2013
RBA Stevens speech recap: Still some scope to ease after last CPI
Governor of the RBA, Glenn Stevens, is giving his annual speech to The Anika Foundation Luncheon in Sydney, and some explosive comments are now crossing the wires. The topic of the speech is current issues in economic policy. According to RBA's Stevens, long rise in mining investment is now over, saying that coming fall could be "quite big". Stevens said that easing is working to shift investors to taking some more risk, adding that shift in risk taking not yet a serious impediment to further policy easing. Stevens remained dovish on his tone, saying that "still has some scope to ease after inflation data." On the Aussie value, Stevens wouldn't be surprised if it falls further, as "the fall makes economic sense."
https://support.fxcc.com/email/technical/30072013/
FOREX ECONOMIC CALENDAR :
2013-07-30 09:00 GMT | EMU. Consumer Confidence (Jul)
2013-07-30 12:00 GMT | Germany. Consumer Price Index (YoY)
2013-07-30 14:00 GMT | US. Consumer Confidence (Jul)
2013-07-30 23:13 GMT | Japan. Nomura/ JMMA Manufacturing Purchasing Manager Index (Jul)
FOREX NEWS :
2013-07-30 05:38 GMT | AUD/JPY slashes below key support at 89.39 on Stevens comments
2013-07-30 05:05 GMT | AUD/USD craters below recent trading range on Stevens’ speech
2013-07-30 05:03 GMT | NZD/USD breaks below 0.80 following RBA Stevens
2013-07-30 03:51 GMT | USD/JPY explodes towards 98.40/50 stops
EURUSD :
HIGH 1.32661 LOW 1.32474 BID 1.32587 ASK 1.32590 CHANGE -0.03% TIME 08:40:16
OUTLOOK SUMMARY : Up
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Market trapped to the consolidation phase after initial uptrend development. Further buying interest might occur above the resistance at 1.3273 (R1). Our initial targets locates at 1.3288 (R2) and 1.3304 (R3) Downwards scenario: If the price manages to clear an important technical level at 1.3247 (S1), recovery action might get more stimulus. Our next support levels locates at 1.3232 (S2) and 1.3217 (S3).
Resistance Levels: 1.3273, 1.3288, 1.3304
Support Levels: 1.3247, 1.3232, 1.3217
---------------------------
GBPUSD :
HIGH 1.53438 LOW 1.53152 BID 1.53391 ASK 1.53398 CHANGE 0% TIME 08:40:17
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: GBPUSD is approaching our next resistive barrier at 1.5345 (R1). Break here is required to prolong upside pressure and trigger our intraday targets at 1.5360 (R2) and 1.5376 (R3) later on today. Downwards scenario: Further downtrend expansion might face next hurdle at the local low- 1.5314 (S1). Break here is required to open road towards to our next interim target at 1.5299 (S2) en route to final aim at 1.5283 (S3).
Resistance Levels: 1.5345, 1.5360, 1.5376
Support Levels: 1.5314, 1.5299, 1.5283
----------------------
USDJPY :
HIGH 98.463 LOW 97.849 BID 98.372 ASK 98.376 CHANGE 0.43% TIME 08:40:17
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Medium term bias is clearly negative however we expect resuming of the recovery action if the price manages to overcome key resistive bastion at 98.46 (R1). In such case we would suggest next intraday targets at 98.71 (R2) and 98.96 (R3). Downwards scenario: Our next support level locates at 97.99 (S1) mark. Possible penetration below this mark would open way towards to next target at 97.73 (S2) and then final aim lie at 97.47 (S3) price level.
Resistance Levels: 98.46, 98.71, 98.96
Support Levels: 97.99, 97.73, 97.47
Source: FX Central Clearing Ltd,( http://www.fxcc.com )
Forex Technical & Market Analysis FXCC Jul 31 2013
Forex Technical & Market Analysis FXCC Jul 31 2013
The world awaits the FOMC decision and statements
Unlike many of the recent Fed meetings, Today’s meeting will feature only the FOMC’s decision and accompanying statement – but still the world is watching. Today’s interest rate decision will only be accompanied by their official statement regarding their decision. Traders and analysts are hoping for more guidance on the Fed’s plans regarding their bond buying program.
https://support.fxcc.com/email/technical/31072013/
FOREX ECONOMIC CALENDAR :
2013-07-31 09:00 GMT | EMU. Consumer Price Index - Core (YoY)
2013-07-31 12:30 GMT | USA. Gross Domestic Product Annualized (Q2)
2013-07-31 18:00 GMT | USA. Fed Interest Rate Decision
2013-07-31 18:00 GMT | USA. Fed's Monetary Policy Statement and press conference
FOREX NEWS :
2013-07-31 04:43 GMT | Today is the big day, USD to be pressured - SocGen
2013-07-31 04:29 GMT | FOMC client survey results; most hold USD longs - Nomura
2013-07-31 04:25 GMT | NZD/USD holding above 0.7950 while capped below 0.80
2013-07-31 04:04 GMT | USD to strengthen as 'dovish' Fed priced in - RBS
EURUSD :
HIGH 1.3268 LOW 1.32517 BID 1.32572 ASK 1.32577 CHANGE -0.04% TIME 08 : 46:29
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: All supports and resistances remains the same today. Mark at 1.3273 (R1) acts as next resistive barrier on the way if the pair keeps it upside potential. Break here is required to achieve higher targets at 1.3288 (R2) and 1.3304 (R3) later on today. Downwards scenario: On the other side, depreciation below the support at 1.3247 (S1) might shift short-term tendency to the bearish side and validate our intraday targets at 1.3232 (S2) and 1.3217(S3).
Resistance Levels: 1.3273, 1.3288, 1.3304
Support Levels: 1.3247, 1.3232, 1.3217
--------------------------
GBPUSD :
HIGH 1.52434 LOW 1.52185 BID 1.52244 ASK 1.52250 CHANGE -0.09% TIME 08 : 46:30
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Instrument gained momentum on the downside recently, turning short-term bias to the negative side. Though, upwards penetration above the resistance at 1.5252 (R1) might enable bullish forces and expose our initial targets at 1.5267 (R2) and 1.5282 (R3). Downwards scenario: On the other side, depreciation below the support barrier at 1.5215 (S1) might provide sufficient space for the recovery action. In such case we would suggest next intraday targets at 1.5205 (S2) and then 1.5186 (S3).
Resistance Levels: 1.5252, 1.5267, 1.5282
Support Levels: 1.5215, 1.5205, 1.5186
--------------------
USDJPY :
HIGH 98.162 LOW 97.847 BID 98.019 ASK 98.020 CHANGE -0.01% TIME 08 : 46:31
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Possible volatility increase might commence new phase of downtrend extension either prolong retracement formation on the hourly chart frame. Price appreciation above the resistance at 98.23 (R1) would suggest intraday targets at 98.44 (R2) and 98.65 (R3). Downwards scenario: On the downside, next on tap is seen support level at 97.74 (S1). Clearance here is required to enable lower targets at 97.49 (S2) and 97.25 (S3)
Resistance Levels: 98.23, 98.44, 98.65
Support Levels: 97.74, 97.49, 97.25
Source: FX Central Clearing Ltd,( http://www.fxcc.com )
Forex Technical & Market Analysis FXCC Aug 01 2013
Forex Technical & Market Analysis FXCC Aug 01 2013
Mixed data spur controversies on Chinese PMI data restrictions
Last month, the National Bureau of Statistics restrained industry-specific data upon publication of Purchasing Manufacturing indexes. Under the premise implying not enough resources were available to make such analysis public, the Chinese opted to suspend relevant information indicative of this year’s economic performance. As stated by the vice president of the China Federation of Logistics & Purchasing, “We now have 3,000 samples in the survey, and from a technical point of view, time is very limited — there are many industries, you know”. While Chinese provide zero point zone explanations, speculation concerning the reasons behind such measures continues to surge.
https://support.fxcc.com/email/technical/01082013/
FOREX ECONOMIC CALENDAR :
2013-08-01 11:00 GMT | UK. BoE Interest Rate Decision
2013-08-01 11:45 GMT | EMU. ECB Interest Rate Decision
2013-08-01 12:30 GMT | EMU. ECB Monetary policy statement and press conference
2013-08-01 14:00 GMT | USA. ISM Manufacturing PMI
FOREX NEWS :
2013-08-01 04:12 GMT | GBP/USD at fresh session lows ahead of London
2013-08-01 03:09 GMT | USD/JPY totally flat for the week above 98 waiting NFP
2013-08-01 02:55 GMT | AUD/USD, 0.8858 and 8775 next targets - 2ndSkies
2013-08-01 02:25 GMT | EUR/USD flat for the week inside a 150 pip range
-------------------
EURUSD
HIGH 1.33108 LOW 1.32661 BID 1.32698 ASK 1.32702 CHANGE -0.25% TIME 08 : 45:58
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Possible upside penetration looks limited now to the next resistive barrier at 1.3288 (R1). Appreciation above this mark might gradually push the pair toward to next targets at 1.3304 (R2) and 1.3319 (R3) in potential. Downwards scenario: As long as price stays below the next resistance level our technical outlook would be negative. Next on tap is support level at 1.3252 (S1). Penetration below this mark would suggest next targets at 1.3238 (S2) and 1.3223 (S3).
Resistance Levels: 1.3288, 1.3304, 1.3319
Support Levels: 1.3252, 1.3238, 1.3223
------------------------
GBPUSD :
HIGH 1.52102 LOW 1.51535 BID 1.51597 ASK 1.51599 CHANGE -0.3% TIME 08 : 45:59
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: Possible buying interest might push the pair to attack next resistive measure at 1.5187 (R1). Clearance here is required to resume upside formation, targeting marks at 1.5207 (R2) and 1.5226 (R3) later on today. Downwards scenario: On the other hand, loss of our support level at 1.5146 (S1) would open road for a market decline towards to our next target at 1.5128 (S2). Any further price weakening would then be limited to final support for today at 1.5109 (S3).
Resistance Levels: 1.5187, 1.5207, 1.5226
Support Levels: 1.5146, 1.5128, 1.5109
-----------------------
USDJPY :
HIGH 98.375 LOW 97.658 BID 98.350 ASK 98.353 CHANGE 0.52% TIME 08 : 46:00
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Risk of further price appreciation is seen above the next resistance level at 98.46 (R1). Clearance here would suggest next intraday target at 98.66 (R2) and then final aim locates at 98.86 (R3). Downwards scenario: On the other hand, clearance of our support at 98.11 (S1) is required to determine negative intraday bias and enable lower target at 97.90 (S2) and then any further market depreciation would suggest final support at 97.69 (S3).
Resistance Levels: 98.46, 98.66, 98.86
Support Levels: 98.11, 97.90, 97.69
Source: FX Central Clearing Ltd,( http://www.fxcc.com )
Forex Technical & Market Analysis FXCC Aug 05 2013
Forex Technical & Market Analysis FXCC Aug 05 2013
Australian services sector falls below 40.00, first time since GFC
Earlier on the session it was learnt that the Australian Performance of Services Index (Australian PSI®) fell deeper into the red, this time by 2.1 points to 39.4 in July, suggesting further contraction in activity. This is the lowest level for the Australian PSI® since March 2009, Ai Group reported, saying that "outside the GFC-related downturn in 2008-09, it is the first time the Australian PSI® has fallen below 40 points."
https://support.fxcc.com/email/technical/05082013/
FOREX ECONOMIC CALENDAR :
2013-08-05 07:58 GMT | EMU. Markit Services PMI
2013-08-05 08:28 GMT | UK. Markit Services PMI (Jul)
2013-08-05 09:00 GMT | EMU. Retail Sales (YoY)
2013-08-05 14:00 GMT | US. ISM Non-Manufacturing PMI
FOREX NEWS :
2013-08-05 05:18 GMT | GBP/USD mustering a modest bounce after five straight down sessions
2013-08-05 04:31 GMT | AUD/USD enters heavy data week oversold and with the world leaning against it
2013-08-05 04:09 GMT | EUR/USD, sellers protect 1.3280 resistance
2013-08-05 03:24 GMT | USD/JPY easing below 99.00
------------------------
EURUSD :
HIGH 1.32868 LOW 1.32635 BID 1.32788 ASK 1.32791 CHANGE -0.02% TIME 08:33:34
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Neutral hourly studies point towards further consolidation, with a break of next resistive structure at 1.3293 (R1) is required to spark stronger upside action. In such scenario we would suggest our next initial targets 1.3304 (R2) and 1.3316 (R3). Downwards scenario: Risk of market depreciation is seen below the next support level at 1.3263 (S1). Clearance here would suggest next intraday targets at 1.3252 (S2) and 1.3241 (S3) in potential.
Resistance Levels: 1.3293, 1.3304, 1.3316
Support Levels: 1.2263, 1.3252, 1.3241
---------------------
GBPUSD :
HIGH 1.52969 LOW 1.5259 BID 1.52751 ASK 1.52756 CHANGE -0.05% TIME 08:33:34
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: Market price penetrated above the Friday’s high. On the way is key resistive measure at 1.5309 (R1), break here is required to achieve higher targets at 1.5330 (R2) and 1.5350 (R3). Downwards scenario: On the downside next challenge is seen at 1.5248 (S1). Breakthrough here would open road for a recovery action towards to our initial targets at 1.5233 (S2) and 1.5212 (R3) in potential.
Resistance Levels: 1.5309, 1.5330, 1.5350
Support Levels: 1.5248, 1.5233, 1.5212
-------------------------
USDJPY :
HIGH 99.15 LOW 98.706 BID 98.771 ASK 98.776 CHANGE -0.17% TIME 08:33:35
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low
Upwards scenario: Market players may prefer to stay neutral today during limited tier one macroeconomic data flow, though a break of our resistance at 99.15 (R1) would suggest next targets at 99.32 (R2) and 99.49 (R3). Downwards scenario: Further recovery phase is limited now to the next supportive barrier at 98.65 (S1). Only loss here would enable our intraday targets at 98.50 (S2) and 98.34 (S3) on the downside.
Resistance Levels: 99.15, 99.32, 99.49
Support Levels: 98.65, 98.50, 98.34
Source: FX Central Clearing Ltd,( http://www.fxcc.com )
Forex Technical & Market Analysis FXCC Aug 06 2013
Forex Technical & Market Analysis FXCC Aug 06 2013
AUD/USD rallies initially after RBA, but a lot of resistance looms
The AUD/USD came into the RBA decision very oversold and ready squeeze the bears. Despite the initial pop, technicians say there’s plenty of resistance to conquer before the bulls take control of the macro picture. The initial positive reaction following the RBA’s 25 basis point rate cut appears to be the market weeding out those shorts who were banking on a 50 basis point cut. While nobody knows exactly how much money was being bet against the AUD/USD, but the mercilous selling that led to the extreme oversold readings made it quite apparent that the short-Aussie trade was extremely crowded – and the markets do not treat crowded trades well typically. The good news for bears that were not over-leveraged is that the RBA hinted that they stand at the ready to act further if growth continues to be a problem and inflation remains benign.
https://support.fxcc.com/email/technical/06082013/
FOREX ECONOMIC CALENDAR :
2013-08-06 08:30 GMT | UK. Industrial Production (YoY)
2013-08-06 12:30 GMT | US. Trade Balance
2013-08-06 14:00 GMT | UK. NIESR GDP Estimate (3M)
2013-08-06 22:45 GMT | NZ. Unemployment Rate (Q2)
FOREX NEWS :
2013-08-06 05:04 GMT | Japan June Leading Economic Index falls to 107 vs 110.7
2013-08-06 04:48 GMT | USD pares loses; RBA cuts 25bps as expected
2013-08-06 04:47 GMT | EUR/AUD, on never-ending downfall?
2013-08-06 03:48 GMT | USD/JPY, Houston, do we have a problem?
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EURUSD :
HIGH 1.32714 LOW 1.32526 BID 1.32546 ASK 1.32552 CHANGE -0.03% TIME 08 : 40:54
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Despite the current consolidation pattern, EURUSD remains in uptrend formation on the bigger picture. Clearance of our next resistance level at 1.3272 (R1) would suggest initial targets at 1.3282 (R2) and 1.3292 (R3). Downwards scenario: On the downside next supportive bastion lies at 1.3250 (S1). Prolonged movement below it might then expose our intraday targets at 1.3241 (S2) and 1.3231 (S3).
Resistance Levels: 1.3272, 1.3282, 1.3292
Support Levels: 1.3250, 1.3241, 1.3231
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GBPUSD :
HIGH 1.53689 LOW 1.53362 BID 1.53376 ASK 1.53385 CHANGE -0.1% TIME 08 : 40:54
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Further bullish penetration might face next challenge at 1.5378 (R1). Break here would then be targeting 1.5396 (R2) en route towards to last resistance for today at 1.5415 (R3).Downwards scenario: On the other hand, retracement formation might occur below the immediate support level at 1.5319 (S1). Clearance here would enable our next intraday targets at 1.5301(S2) and 1.5281 (S3).
Resistance Levels: 1.5378, 1.5396, 1.5415
Support Levels: 1.5319, 1.5301, 1.5281
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USDJPY :
HIGH 98.377 LOW 97.838 BID 98.350 ASK 98.353 CHANGE 0.06% TIME 08 : 40:55
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: An element of resistive measure could be found at 98.46 (R1). Clearance here would open way towards to higher target at 98.63 (R2) and any further rise would then be limited to last resistance at 98.80 (R3). Downwards scenario: Failure to establish corrective structure might lead to further downtrend evolvement later on today. Penetration below the support at 98.03 (S1) would suggest next intraday targets at 97.86 (S2) and 97.69 (S3) in perspective.
Resistance Levels: 98.46, 98.63, 98.80
Support Levels: 98.03, 97.86, 97.69
Source: FX Central Clearing Ltd,( http://www.fxcc.com )
Forex Technical & Market Analysis FXCC Aug 07 2013
Forex Technical & Market Analysis FXCC Aug 07 2013
GBP/USD fading after failed test of 1.5435 level; BOE report looms
The GBPUSD runs the risk of cascading lower yet again after it ran up to “correction resistance” and failed. The BOE’s inflation report and Mr. Carney’s appearance before Parliament are sure to create a sharp move. The GBP/USD cross rallied sharply on Dollar weakness following Friday’s jobs report in the US. The bullish tone carried over into Sunday night’s open and continued to stair-step higher until just after Britain’s industrial and manufacturing production numbers were released. Shortly after those numbers came out, the GBP/USD began to sell off – this time in a stair-step pattern in the opposite direction. So far, there is still a chance that the latest bit of selling is just a correction lower leading up to the next thrust higher. But, technicians say that a break below 1.5213 would put out any bullish flame.
https://support.fxcc.com/email/technical/07082013/
FOREX ECONOMIC CALENDAR :
2013-08-07 09:30 GMT | Bank of England Quarterly Inflation Report
2013-08-07 09:30 GMT | Mark Carney speaks at UK Parliament
2013-08-07 12:30 GMT | Canada. Building Permits (MoM) (Jun)
2013-08-07 19:00 GMT | US Consumer Credit Change (Jun)
FOREX NEWS :
2013-08-07 05:20 GMT | EUR/GBP up after Tuesday’s gains ahead of BOE inflation report
2013-08-07 04:26 GMT | AUD/USD downtrend dominant; targets at 0.8550, 0.8675 - ANZ
2013-08-07 03:20 GMT | GBP/USD fading after failed test of 1.5435 level; BOE report looms
2013-08-07 02:49 GMT | Risk of a dovish BoJ - RBS
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EURUSD :
HIGH 1.33156 LOW 1.32926 BID 1.33025 ASK 1.33028 CHANGE -0.02% TIME 08:41:08
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EURUSD trapped to the consolidation mode on the hourly chart frame. Next resistive barrier is seen at 1.3315 (R1), break here is required to enable next attractive points at 1.3324 (R2) and 1.3332 (R3). Downwards scenario: While instrument trades above the moving averages, our short-term bias would stay positive though penetration below the support level at 1.3292 (S1) might open way towards to lower targets at 1.3283 (S2) and 1.3273 (S3).
Resistance Levels: 1.3315, 1.3324, 1.3332
Support Levels: 1.3292, 1.3283, 1.3273
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GBPUSD :
HIGH 1.53635 LOW 1.53173 BID 1.53347 ASK 1.53352 CHANGE -0.09% TIME 08:41:08
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Possibility of uptrend evolvement is seen above the next resistance at 1.5363 (R1). Violation here would increase bullish pressure and suggest next intraday targets at 1.5387 (R2) and 1.5412 (R3). Downwards scenario: Our next support level is placed at 1.5317 (S1), right below the local minimum. Possible penetration below it might initiate bearish pressure and gradually push the price towards to our intraday targets at 1.5295 (S2) and 1.5273 (S3).
Resistance Levels: 1.5363, 1.5387, 1.5412
Support Levels: 1.5317, 1.5295, 1.5273
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USDJPY :
HIGH 97.804 LOW 97.092 BID 97.226 ASK 97.230 CHANGE -0.52% TIME 08:41:09
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Descending structure suggests possible correction ahead. Break above the resistance at 97.58 (R1) would clear the way towards to higher target at 97.83 (R2). Further price appreciation would face then final resistive measure at 98.07 (R3) Downwards scenario: Local low offers an important supportive measure at 97.08 (S1). A violation here might call for a run towards to initial targets at 96.84 (S2) and 96.58 (S3).
Resistance Levels: 97.58, 97.83, 98.07
Support Levels: 97.08, 96.84, 96.58
Source: FX Central Clearing Ltd,( http://www.fxcc.com )
Forex Technical & Market Analysis FXCC Aug 08 2013
Forex Technical & Market Analysis FXCC Aug 08 2013
BoJ to keep massive monetary easing
BOJ kept monetary policy steady by unanimous vote, retaining its plan to increase monetary base at annual pace of 60-70 trillion yen. The bank said that the CPI uptick from recent months will gradually accelerate as inflation expectations continue to rise on the whole. Monetary easing to continue until 2% inflation target reached, the BoJ said. On the economic outlook, the central bank said the Japanese economy is recoverying moderately but still faces many uncertainties.
https://support.fxcc.com/email/technical/08082013/
FOREX ECONOMIC CALENDAR :
2013-08-08 08:00 GMT | EMU ECB Monthly Report
2013-08-08 12:30 GMT | US Initial Jobless Claims
2013-08-08 12:30 GMT | Canada. New Housing Price Index (YoY)
2013-08-08 23:50 GMT | Japan. Tertiary Industry Index (MoM)
FOREX NEWS :
2013-08-08 05:02 GMT | EUR/USD resting below fresh 7-week highs at 1.3350
2013-08-08 04:50 GMT | AUD/NZD takes off to reach 1.1397 intraday highs
2013-08-08 04:50 GMT | GBP/USD consolidating gains above 1.55
2013-08-08 04:20 GMT | USD/CHF pocketing 0.13% gains on steady climb
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EURUSD
HIGH 1.33506 LOW 1.33281 BID 1.33485 ASK 1.33489 CHANGE 0.1% TIME 08:35:44
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Fresh high offers a key resistive barrier at 1.3346 (R1). Subsequently loss here might create upside momentum and drive market price towards to our initial targets at 1.3358 (R2) and 1.3370 (R3) in potential. Downwards scenario: On the other hand, depreciation below the technically important support level at 1.3327 (S1) might lead to the correction formation on the short-term perspective. Possible targets lies at 1.3314 (S2) and 1.3302 (S3).
Resistance Levels: 1.3346, 1.3358, 1.3370
Support Levels: 1.3327, 1.3314, 1.3302
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GBPUSD :
HIGH 1.55067 LOW 1.54849 BID 1.55067 ASK 1.55071 CHANGE 0.13% TIME 08:35:45
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: After the strong appreciation yesterday we expect to see some consolidation ahead. Though clearance of next resistance level at 1.5531 (R1) might enable bullish pressure and open route towards to our next targets at 1.5557 (R2) and 1.5584 (R3). Downwards scenario: On the downside, support level at 1.5478 (S1) limits possible retracement expansion. Break here is required to enable lower target at 1.5450 (S2) en route to final aim at 1.5424 (S3).
Resistance Levels: 1.5531, 1.5557, 1.5584
Support Levels: 1.5478, 1.5450, 1.5424
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USDJPY :
HIGH 96.935 LOW 96.322 BID 96.415 ASK 96.416 CHANGE 0.09% TIME 08:35:46
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Possible buying interest might arise above the resistance at 96.94 (R1). Clearance here would suggest next intraday target at 97.18 (R2) and if the price holds its momentum we can expect an exposure of 97.42 (R3). Downwards scenario: On the other hand, further downtrend development may encounter supportive measure at 96.30 (S1). Penetration through this level would targeting then supportive means at 96.08 (S2) and 95.84 (S3) in potential.
Resistance Levels: 96.94, 97.18, 97.42
Support Levels: 96.30, 96.08, 95.84
Source: FX Central Clearing Ltd,( http://www.fxcc.com )