Update - Daily Technical Levels from FXCC - page 29
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Market Overview by FXCC Aug 29 2012
Market Overview by FXCC Aug 29 2012
ECB has no choice but buy periphery gvrt debt - Nomura
ECB purchases of periphery debt would be effective in ending a dysfunctional government bond marke, says Nomura economist Richard Koo. "While longer-term answers to this eurozone-specific problem include fiscal stimulus to tackle the balance sheet recession itself and a rule that addresses the issue of capital flight by restraining, given that both of those measures will probably take years to implement, the only short-term option is to have the ECB buy the government debt of peripheral countries" the economist said in a research note.
London session ahead will be another quiet one in terms of EUR macro data related coming out, with only French business confidence at 06:45 GMT, followed by Italian consumer confidence and retail sales at 08:00 GMT, and German CPI at 12:00 GMT. In the sovereign debt auctions front Italy will sell 6-month bills, with 10 year bond yields on the rise at 5.82% last, coming from multi-week lows Aug 22 at 5.56% for Italy. There will also be some meetings among different EU leaders going on which could actually produce some headlines.
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UPCOMING EVENTS :
2012-08-29 07:00 GMT Switzerland. KOF Leading Indicator (Aug)
2012-08-29 12:00 GMT Germany. Harmonised Index of Consumer Prices (YoY) (Aug). Preliminar
2012-08-29 12:30 GMT United States. Gross Domestic Product Annualized (Q2)
2012-08-29 18:00 GMT United States. Fed's Beige Book
2012-08-29 04:32 GMT GBP/USD holds bullish stance – V.Bednarik
2012-08-29 04:11 GMT GBP/JPY: Hikkake prints at key support
2012-08-29 03:42 GMT EUR/USD, watch resistance at 1.2600
2012-08-29 02:02 GMT USD on demand in Asia
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EURUSD : 1.25567 / 1.25571
DAILY WEEKLY MONTHLY
1.2633 | 1.2604 | 1.2576
1.2543 | 1.2513 | 1.2481
SUMMARY : Up
TREND : Up trend
MA10 : Bearish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
The “Bullish” sentiment took up the EURUSD. Instrument reached our target at 1.2547. Potential of going higher is seen today above the next resistance at 1.2576 (R1), surpassing of this level would suggest higher targets at 1.2604 (R2) and 1.2633 (R3). If it fail to go higher, we might see retracement development below the next support level at 1.2543 (S1) towards to next target at 1.2513 (S2). Brake here is required to enable last support level at 1.2481 (S3).
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GBPUSD : 1.58147 / 1.58155
DAILY WEEKLY MONTHLY
1.5913 | 1.5887 | 1.5838
1.5797 | 1.5772 | 1.5747
SUMMARY : Up
TREND : Up trend
MA10 : Bearish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
GBPUSD currently is under the “Bullish” pressure and moving towards to our suggested yesterday target at 1.5838 (R1), our next resistance level. Brake here would suggest new target at 1.5887 (R2) and any further rise would then be limited to 1.5913 (R3) intraday. Next support level stay at 1.5797 (S1), brake below it might provide a downside priority in direction for the remaining of the day. Next suggested targets at 1.5772 (S2) and 1.5747 (S3) in potential.
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USDJPY : 78.580 / 78.584
DAILY WEEKLY MONTHLY
79.02 | 78.83 | 78.65
78.45 | 78.28 | 78.11
SUMMARY : Sideway
TREND : Sideway
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Technically instrument remain trading in a range mode. A break above the first resistance level at 78.65 (R1) would suggest a target at 78.83 (R2). If the price holds its momentum on the upside we can expect a further rise towards to 79.02 (R3) in perspective. All our support levels remain the same as yesterday. Key support level holds at 78.45 (S1). If the pair manage to brake here, we expect next target 78.28 (S2) and any further fall would then be limited to 78.11 (S3).
Source: FX Central Clearing Ltd, ( Forex Trading Hours | Forex Trading Strategy | ECN Forex Trading Tutorial | FXCC )
Market Overview by FXCC Aug 30 2012
Market Overview by FXCC Aug 30 2012
Iron ore collapse has huge implications for the Australian economy - Macquarie Group
The tumbling iron ore price has the Aussie bulls on the edge after Iron ore fell nearly 5% overnight to $90.30 a tonne, down now 23% since the end of July. If commodity prices do not recover, Senior Economist at Macquarie Brian Redican sees A$10 billion of cuts would be needed for the Australian Government to achieve a 2013 surplus.
London session ahead will be a busier one than the days before, with main focus on Italian 10 year sovereign bond auction, with previous auction's yield at 5.96%. Apart from that EU's Barroso speaks at European Forum Alpach in Viena at 09:00 GMT which could bring some headlines. In the EUR data related front Spain delivers CPI at 07:00 GMT, followed 55 minutes later by German unemployment rate, and Italian hourly wages 5 minutes after. Then at the same time Barroso speaks EU and Italy consumer sentiment data will be out. The Jackson Hole symposium finally starts today as well.
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UPCOMING EVENTS :
2012-08-30 07:55 GMT | Germany. Unemployment Change (Aug)
2012-08-30 08:30 GMT | United Kingdom. Mortgage Approvals (Jul)
2012-08-30 09:00 GMT | European Monetary Union. Consumer Confidence (Aug)
2012-08-30 12:30 GMT | United States. Core Personal Consumption Expenditure - Prices Index (YoY) (Jul)
FOREX NEWS :
2012-08-30 02:52 GMT | EUR/USD still bid above 100-day EMA
2012-08-30 04:30 GMT | GBP/USD steady around 1.5825 ahead of Europe
2012-08-30 00:45 GMT | AUD/USD heading towards 200-day MA; Fitch warns on steel, iron ore outlook
2012-08-30 00:18 GMT | USD/JPY still without direction
EURUSD : 1.25353 / 1.25359
DAILY WEEKLY MONTHLY
1.2633 | 1.2604 | 1.2576
1.2513 | 1.2481 | 1.2451
SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Overbought
MARKET ANALYSIS - Intraday Analysis
EURUSD penetrated below the suggested support level at 1.2543 yesterday and made an attempt to go lower. Today we expect further depreciation as main scenario towards to our targets. However clearance of next resistance at 1.2576 (R1) might open way for the next target attack at 1.2604 (R2). Our next target for short positions locates at 1.2513 (S1), loss here would enable lower supports at 1.2481 (S2) and 1.2451 (S3) in perspective.
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GBPUSD : 1.58229 / 1.58238
DAILY WEEKLY MONTHLY
1.5913 | 1.5887 | 1.5861
1.5796 | 1.5772 | 1.5747
SUMMARY : Up
TREND : Up trend
MA10 : Bearish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
The currency traded yesterday without a priority in direction and all our supports and resistance levels remain the same. Today we expect that price will trade within the same price range. Strong signal should be provided prior to the trend development. Potential is seen for break above the 1.5861 level (R1) on the upper side. Possible targets stays at 1.5887 (R2) and 1.5913 (R3) levels. Downside development remains for now limited by next support level at 1.5796 (S1), only clear break here would be a signal of market weakening with next targets at 1.5772 (S2) and 1.5747(S3) in potential.
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USDJPY : 78.605 / 78.610
DAILY WEEKLY MONTHLY
79.21 | 79.02 | 78.83
78.45 | 78.28 | 78.11
SUMMARY : Sideway
TREND : Sideway
MA10 : Bearish
MA20 : Bullish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
The USDJPY trades in a channel between our next support level at 78.45 (S1) and resistance at 78.83 (R1). A break in either direction will determine the trading bias for the medium term. In such situation we suggest to wait for a clear directional signal prior taking any positions. Bake above the resistance level at 78.83 (R1) would suggest next targets at 79.02 (R2) and 79.21 (R3) in potential. On the other side, loss of 78.45 (S1) would enable targets at 78.28 (S2) and 78.11 (S3).
Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)
Market Overview by FXCC Aug 31 2012
Market Overview by FXCC Aug 31 2012
ECB bond buying plan unlikely to be fully unveiled at the Sep ECB meeting - TDS
With summer drawing to a close, "it's time to see if the monetary weapons will be revealed", says Rich Kelly, research analyst at TDS. "Disappointment at some stage along the way is a real possibility and we eventually expect the ECB’s new bond buying plan to satisfy the market, but it is unlikely to be fully unveiled at the September ECB meeting, and once announced, there will be a lag before Spain asks for it, and markets hate waiting and uncertainty" the analyst notes.
In the sessions ahead, the UK’s non-seasonally adjusted Nationwide Housing Prices data for August will be key risk event for GBP, but the market is likely to be distracted as it awaits Bernanke’s speech at Jackson Hole.
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UPCOMING EVENTS :
2012-08-31 09:30 GMT | E.M.U. Unemployment Rate (Jul)
2012-08-31 12:30 GMT | Canada. Gross Domestic Product (YoY) (Q2)
2012-08-31 14:00 GMT | United States. Fed's Bernanke Speaks at Jackson Hole
2012-08-31 18:30 GMT | All. IMF's Lagarde Speaks at Jackson Hole
FOREX NEWS :
2012-08-31 03:45 GMT | USD/JPY dips to 6-day lows, still in range
2012-08-31 03:01 GMT | NZD/USD finding resistance below 0.80
2012-08-31 02:11 GMT | GBP/JPY sideways around 124.00
2012-08-31 02:46 GMT | EUR/AUD within quiet, narrow range
EURUSD : 1.25109 / 1.25114
DAILY WEEKLY MONTHLY
1.2577 | 1.2550 | 1.2523
1.2481 | 1.2451 | 1.2417
SUMMARY : Up
TREND : Downward penetration
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Today major market drivers would be Fed's Bernanke Speech at 14:00 GMT and IMF's Lagarde Speech at 18:30 GMT at Jackson Hole. However some macroeconomic data would be released during the European trading session, in focus E.M.U. Unemployment Rate at 09:00 GMT and Germany Retail Sales at 06:00 GMT. Appreciation above the next resistance level at 1.2523 (R1) potentially might expose higher targets at 1.2550 (R2) and 1.2577 (R3) later on today. Bearish penetration below the suggested yesterday support at 1.2513 targeting 1.2481 (S1) and 1.2451(S2) in potential. Final support level for today locates at 1.2417 (S3).
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GBPUSD : 1.57932 / 1.57941
DAILY WEEKLY MONTHLY
1.5859 | 1.5830 | 1.5800
1.5770 | 1.5741 | 1.5712
SUMMARY : Up
TREND : Downward penetration
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Yesterday Instrument made an attempt to establish positive bias but failed to go much higher our suggested resistance level at 1.5838. During the US Session pair recovered all gains and met our downside direction target at 1.5772. Fresh low, formed yesterday is our next support level at 1.5770 (S1), brake here might shift market sentiment to the “Bearish” side. In such scenario we expect further decline towards to next targets at 1.5741 (S2) and 1.5712 (S3). Risk of GBPUSD strengthening is seen above the resistance level at 1.5800 (R1). Progress above it might expose targets at 1.5830 (R2) and 1.5859 (R3) in potential.
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USDJPY : 78.435 / 78.440
DAILY WEEKLY MONTHLY
78.91 | 78.85 | 78.57
78.28 | 78.10 | 77.92
SUMMARY : Down
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
Market remains in sideways mode trading however potential volatility increase due to the Jackson Hole Symposium might assist to the trend development on the market. Signal of market sentiment change to the bearish would be provided if market drop below the next support level at 78.28 (S1). Suggested targets locates at 78.10 (S2) and 77.92 (S3). On the other side, brake above the resistance at 78.57 (R1) might lead to the bullish scenario and expose targets at 78.85 (R2) and 78.91 (R3).
Source: FX Central Clearing Ltd,( Forex Trading Basics | ECN Forex Trading Education | Best Forex Trading Platform | FXCC )
Market Overview by FXCC Sep 03 2012
Market Overview by FXCC Sep 03 2012
ECB to add some colour on bond buying - Nomura
Expect the ECB to announce its preparedness to intervene in the bond market after countries have called for help at the EFSF/ESM and under strict conditionality, Nomura Chief European Economist Jacques Cailloux said in a research note, published late last week. However, Nomura believes that the ECB will provide very little colour on the modalities of the programme at this week's meeting. According to Mr. Cailloux, once the program is implemented, "analysis shows that the bond buying programme for Spain could last 5 months with the shorter maturities rallying further in the initial stage of the policy response. Much more difficult will be how to anchor the longer end which will be the job of the EFSF/ESM, a task we believe will be very hard."
London session ahead will have another round of PMI figures this time coming from several EU countries like Spain, Italy, France, Germany, the EU, and Greece, starting at 07:13 GMT, 07:43, 07:48, 07:53, and finally at 07:58 with the EU and Greece respectively. Not much in EUR macro data related apart from the PMIs, with the focus on the US closed today on holiday, and ECB's Draghi to testify on banking union before the European Parliament's Economic and Monetary Affairs Committee, in Brussels at 13:30 GMT.
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UPCOMING EVENTS :
2012-09-03 07:15 GMT : Switzerland. Real Retail Sales (YoY) (Jul)
2012-09-03 07:53 GMT : Germany. Markit Manufacturing PMI (Aug)
2012-09-03 07:58 GMT : E.M.U. Markit Manufacturing PMI (Aug)
2012-09-03 08:28 GMT : United Kingdom. Markit Manufacturing PMI (Aug)
FOREX NEWS :
2012-09-03 04:33 GMT : GBP/USD consolidating above 1.5850
2012-09-03 04:12 GMT : EUR/USD flat, AUD/USD plummets
2012-09-03 03:52 GMT : AUD/USD forecast at parity before end of 2012 - UBS
2012-09-03 03:16 GMT : EUR/AUD at fresh 2-month highs
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EURUSD : 1.25825 / 1.25826
DAILY WEEKLY MONTHLY
1.2717 | 1.2676 | 1.2637
1.2557 | 1.2517 | 1.2480
SUMMARY : Up
TREND : Up trend
MA10 : Bearish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Friday’s comments by ECB’s Benoit Coeure pushed EURUSD up to the new monthly highs and our suggested target at 1.2577 was achieved. Our next resistance level is placed above the fresh high at 1.2637 (R1), violation here would expose next target at 1.2676 (R2) and any further appreciation might face resistive measures located at 1.2717 (R3). On the other side, the pair’s fall might be supported by our next level at 1.2557 (S1). Further decline below it might test next targets at 1.2517 (S2) and 1.2480 (S3) in potential.
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GBPUSD : 1.58698 / 1.58710
DAILY WEEKLY MONTHLY
1.5948 | 1.5922 | 1.5896
1.5848 | 1.5824 | 1.5799
SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC Neutral
MARKET ANALYSIS - Intraday Analysis
Friday’s USD weakening during the European session let to profit taking at 1.5589, our last suggested target. Upside pressure might force the market to retest our next resistance level at 1.5896 (R1). Consolidation above it might provide sufficient space for the price increase towards to our next targets at 1.5922 (R2) and 1.5948 (R3). On the flip side, depreciation below the support level at 1.5848 (S1) would enable our targets at 1.5824 (S2) and 1.5799 (S3) in potential.
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USDJPY : 78.319 / 78.323
DAILY WEEKLY MONTHLY
78.80 | 78.63 | 78.45
78.10 | 77.92 | 77.74
SUMMARY : Down
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Current installation might suggest us about the market sentiment change. Friday decline below the key support level at 78.28 open the road towards to the new targets. Our next target level at 78.10 (S1) mark is not far away from current market price. Brake here would suggest lower supports at 77.92 (S2) and 77.74 (S3) as new targets. A move above the resistance level at 78.45 (R1) might drive price towards to the next target at 78.63 (R2) and any further rise would then be limited by last resistance at 78.80 (R3), important technical level.
Source: FX Central Clearing Ltd,( Best Forex Trading System | Forex Trading Platforms | Automated Forex Trading Software | FXCC )
Market Overview by FXCC Sep 04 2012
Market Overview by FXCC Sep 04 2012
RBA Interest Rate Decision remains at 3.5%
The Australian central bank believes that despite the overall global worsening conditions in recent months, monetary policy is appropriate given inflation levels consistent with the objectives set, as well as economic growth in line with expectations. Widely anticipated by economists surveyed by Bloomberg where 24 out of the 24 economists questioned expected the decision to remain unchanged, in the absence of dovish signs the pair is pushing higher.
Australia current account balance has come at -11,801M in 2Q vs -14,892M in 1Q. Expectations were for -12.2 bln approximately. The contribution from Aus net exports rose to 0.3%, below a 0.55% forecasted.
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UPCOMING EVENTS :
2012-09-04 09:00 GMT | E. M. U. Producer Price Index (YoY) (Jul)
2012-09-04 12:58 GMT | United States. Markit Manufacturing PMI (Aug)
2012-09-04 14:00 GMT | United States. ISM Manufacturing PMI (Aug)
2012-09-04 23:30 GMT | Australia. AiG Performance of Services Index (Aug)
FOREX NEWS :
2012-09-04 02:29 GMT | EUR/USD to fresh session highs on USD weakness overall
2012-09-04 01:33 GMT | Japan Labor Cash Earnings (YoY) -1.2% in Jul
2012-09-04 01:17 GMT | Hard to see gold breaking 1700/oz before NFP - ANZ
2012-09-04 00:05 GMT | USD/JPY more range trading above 78.00
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EURUSD : 1.26120 / 1.26127
DAILY WEEKLY MONTHLY
1.2717 | 1.2676 | 1.2637
1.2594 | 1.2557 | 1.2517
SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
EURUSD failed to establish any significant movement as the pair has remained in sideways mode trading yesterday. At the moment pair is gaining 0.18% and next resistance level ahead is seen at 1.2637 (R1). Penetration above it might resume market strengthening towards to the next target at 1.2676 (R2). Remaining resistance level locates at 1.2717 (R3). On the flip side, support levels lie at 1.2594 (S1) ahead. Brake here is required to enable next targets at 1.2557 (S2) and 1.2517 (S3). Next important news from E. M. U. is Producer Price Index at 09:00 GMT.
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GBPUSD : 1.58865 / 1.58876
DAILY WEEKLY MONTHLY
1.5948 | 1.5922 | 1.5896
1.5873 | 1.5848 | 1.5824
SUMMARY : Up
TREND : Up trend
MA10 : Bearish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Technically, GBPUSD is under the bullish pressure on the medium term and we expect further appreciation later on today as main scenario. GBPUSD reached our suggested resistance level at 1.5896 (R1) and now is moving towards to our next target at 1.5922 (R2). Progress above it would suggest final target for today at 1.5948 (R3). On the other hand, retracement is possible and market decline below the next support level at 1.5873 (S1) would bring in focus lower targets at 1.5848 (S2) and 1.5824 (S3) in potential.
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USDJPY : 78.368 / 78.373
DAILY WEEKLY MONTHLY
78.80 | 78.63 | 78.45
78.17 | 77.98 | 77.80
SUMMARY : Down
TREND : Sideway
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
USDJPY continue its range trading and picture in general remain the same. In terms of technical levels, next resistance is seen at 78.45 (R1). If the pair manages to successfully climb above it, we could even see to retest of our next target at 78.63 (R2) later on. Our final resistance could be found at 78.80 (R3) price level. While next support is placed at 78.17 (S1), decline below it would put in focus next target at 77.98 (S2) and any further depreciation would then be limited to 77.80 (S3) intraday.
Source: FX Central Clearing Ltd,( Forex Trading Account | ECN Forex Trading Courses | Forex Currency Trading System | FXCC )
Market Overview by FXCC Sep 05 2012
Market Overview by FXCC Sep 05 2012
Spain full-blown bailout done deal - Nomura
Spain will need full-blown bailout which will include more active role of ECB in Spanish bond markets, says Nomura in a research note. The bank thinks capital flight from Spain is in a "category of its own," with massive outflows raising “serious concerns about the implications for banking sector stability and economic growth,” Nomura strategists Jens Nordvig and Charles St.-Arnaud write in client note. Interestingly, the following line via Bloomberg points at capital outflows on 3-month rolling basis at 50% of GDP vs Italy 15%; for comparison, Indonesia outflow during Asian crisis peaked at 23%.
The London session ahead will bring just few minor PMI figures from the EU in terms of EUR macro data related and EU retail sales. Spanish services PMI will be out at 07:13 GMT, followed 30 minutes later by Italian services PMI, 5 minutes later by French one, another 5 minutes for German one, and finally another 5 minutes for the EU final services PMI at 07:58 GMT. EU retail sales are due at 09:00 GMT. At 13:00 GMT EU's Van Rompuy is expected to meet French PM Hollande so very probably some headlines will come that way.
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UPCOMING EVENTS :
2012-09-05 07:58 GMT | E. M.U. Markit Services PMI (Aug)
2012-09-05 08:28 GMT | United Kingdom. Markit Services PMI (Aug)
2012-09-05 09:00 GMT | E. M.U Retail Sales (YoY) (Jul)
2012-09-05 13:00 GMT | Canada. BoC Interest Rate Decision
FOREX NEWS :
2012-09-05 04:35 GMT | GBP/USD in tight range above 1.5850
2012-09-05 02:26 GMT | AUD/CAD: quick dip below 1.0050
2012-09-05 00:12 GMT | EUR/USD holds negative tone at Tokyo fix
2012-09-04 23:23 GMT | BoC, modest withdrawal of stimulus likely - Nomura
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EURUSD : 1.25340 / 1.25345
DAILY WEEKLY MONTHLY
1.2637 | 1.2598 | 1.2557
1.2517 | 1.2476 | 1.2432
SUMMARY : Up
TREND : Up trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
EURUSD broke our expected support level at 1.2594 and reached our target at 1.2557 yesterday. Intraday term bias remains negative below the next resistance at 1.2557 (R1). However, brake here would suggest about the market sentiment change to the bullish and we expect appreciation towards to 1.2598 (R2) and 1.2637 (R3) in such scenario. Risk of further easing is seen below the support at 1.2517 (S1), decline below it might expose next targets at 1.2476 (S2) and 1.2432 (S3) in potential. Today in focus are E.M.U. Markit Services PMI at 07:58 GMT and Retail Sales at 09:00 GMT.
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GBPUSD : 1.58620 / 1.58629
DAILY WEEKLY MONTHLY
1.5922 | 1.5899 | 1.5875
1.5855 | 1.5830 | 1.5804
SUMMARY : Up
TREND : Up trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
The pair has formed fresh low today at 1.5855 (S1), which is currently our next support level. Fall below it would suggest next targets at 1.5830 (S2) and 1.5804 (S3). Though, intraday Bull’s power might activate when the pair approach resistance level at 1.5875 (R1). Our next target is seen at 1.5899 (R2) and any further appreciation would then be targeting 1.5922 (R3). Attention on the United Kingdom Markit Services PMI release at 08:28 GMT today.
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USDJPY : 78.413 / 78.417
DAILY WEEKLY MONTHLY
78.92 | 78.73 | 78.54
78.17 | 77.98 | 77.80
SUMMARY : Down
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
USDJPY appreciated yesterday and formed fresh high at 78.54 (R1), which is currently our next resistance level. Rise above it might provide sufficient space for the appreciation towards to next target at 78.73 (R2). Brake here is required to enable last target for today at 78.92 (R3). Market decrease below the next important support level at 78.17 (S1) would suggest about the downtrend development with next target at 77.98 (S2). Further instrument easing might face final support at 77.80 (S3).
Source: FX Central Clearing Ltd,( ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC )
Market Overview by FXCC Sep 06 2012
Market Overview by FXCC Sep 06 2012
EUR/USD steady above 1.26 ahead of one of most important days for the currency
The key risk event probably of the entire month in the form of ECB interest rate statement today at 11:45 GMT followed by the press conference 45 minutes later, where is expected the head of the Eurogroup Jean-Claude Juncker will attend the meeting. As reported by Laurence Norman and Todd Buell for WSJ: “In an unusual move, Jean-Claude Juncker, the head of the Eurogroup of euro zone finance ministers, announced he would attend Thursday's ECB governing council meeting. 'Mr. Juncker will present the Eurogroup's analysis of the economic and financial situation in the euro zone,' his spokesman said in an e-mail,” reads the report.
London session ahead will be as busy as it can get, with plenty of risk events going on. For EUR macro related data, France will start with the unemployment figures at 05:30 GMT, followed by the Netherland's CPI a 07:30 GMT, EU's revised 2Q GDP at 09:00 GMT along with Greece unemployment numbers, and Germany factory orders at 10:00 GMT.
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UPCOMING EVENTS :
2012-09-06 09:00 GMT | E.M.U. Gross Domestic Product s.a. (QoQ) (Q2) Preliminar
2012-09-06 11:00 GMT | United Kingdom. BoE Interest Rate Decision
2012-09-06 11:45 GMT | E.M.U. ECB Interest Rate Decision
2012-09-06 12:30 GMT | E.M.U. ECB Monetary policy statement and press conference
FOREX NEWS :
2012-09-06 04:33 GMT | GBP/USD quiet around 1.5900
2012-09-06 03:22 GMT | AUD/JPY bounces from 6-week lows
2012-09-06 03:04 GMT | EUR/CHF keeps moving higher
2012-09-06 01:44 GMT | AUD/USD finds double bottom; aiming at 1.0220
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EURUSD : 1.26056 / 1.26061
DAILY WEEKLY MONTHLY
1.2754 | 1.2697 | 1.2637
1.2570 | 1.2510 | 1.2450
SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Yesterday, leaked details of the ECB’s bond intervention plan pushed EUR higher and our target at 1.2598 was met successfully. However our last target at 1.2637 (R1) remains untouched and currently is our next key resistance level. Market is waiting for official announcement from the ECB at 11:45 GMT and we expect volatility increase today. Clearance of next resistance level at 1.2637 (R1) would enable next targets at 1.2697 (R2) and 1.2754 (R3). For the downside we suggest next support level at 1.2570 (S1). Loss here might take the pair towards to eventual supports, located at 1.2510 (S2) and 1.2450 (S3) in potential.
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GBPUSD 1.59019 / 1.59028
DAILY WEEKLY MONTHLY
1.5996 | 1.5968 | 1.5934
1.5884 | 1.5850 | 1.5815
SUMMARY : Up
TREND : Up trend
MA10 : Bearish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
The key event for GBPUSD would be BoE Interest Rate Decision at 11:00 GMT today. Next important technical resistance stay at 1.5934 (R1), brake here is required for market expansion towards to next target at 1.5968 (R2) and any further increase would then be limited by final resistance for today at 1.5996 (R3). Failure to go higher might push markets to retest our support at 1.5884 (S1). Brake here would suggest next target at 1.5850 (S2) and any further fall would then be targeting to support at 1.5815 (S3). E.M.U. Gross Domestic Product Preliminar release is the next portion of data in focus at 09:00 GMT .
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USDJPY : 78.436 / 78.442
DAILY WEEKLY MONTHLY
78.92 | 78.73 | 78.54
78.30 | 78.10 | 77.89
SUMMARY : Sideway
TREND : Sideway
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
The neutral channel continues to pressure the pair from the both sides. Yesterday high at 78.54 (R1) and formed low at 78.30 (S1) currently is the next key levels. Break above the resistance at 78.54 (R1) would bring in focus next target at 78.73 (R2) and any further appreciation might face final resistance at 78.92 (R3). As long as the pair remains within the same price range, support at 78.30 (S1) is acting a protective level for the pair to plunge lower. Brake here would suggest next targets at 78.10 (S2) and 77.89 (S3) in potential.
Source: FX Central Clearing Ltd,( ECN Global Forex Trading | Forex Trading Charts | Best Forex Trading | FXCC )
Market Overview by FXCC Sep 07 2012
Market Overview by FXCC Sep 07 2012
Market positioning for a stronger NFP reading - Westpac
Market positioning for US Aug non-farm payrolls is likely to be for a stronger reading than economists’ consensus of 130K, given the better ADP survey and also the non-manufacturing ISM, says Sean Callow, currency strategist at Westpac. The bank forecast is gloomier, "looking for 80K after the surprisingly firm 163K in July. The market range is 70-185K."
London session ahead will be focused on key data coming from the US at 12:30 GMT in the form of NFP. But earlier will come a bunch of other minor EUR related data, starting with German current account and trade balance at 06:00 GMT (all times GMT), followed by French trade balance 45 minutes later, Spanish industrial production at 07:00, the Netherlands industrial production half hour later, Greece final 2Q GDP at 09:00, and German industrial production and Portugal final 2Q GDP both at 10:00.
Read More
https://support.fxcc.com/email/technical/07092012/
UPCOMING EVENTS :
2012-09-07 08:30 GMT | United Kingdom. Manufacturing Production (YoY) (Jul)
2012-09-07 12:00 GMT | United States. Nonfarm Payrolls (Aug)
2012-09-07 12:30 GMT | Canada. Net Change in Employment (Aug)
2012-09-07 14:00 GMT | United Kingdom. NIESR GDP Estimate (3M) (Aug)
FOREX NEWS :
2012-09-07 04:40 GMT | EUR/USD ahead of US NFP above 1.26 around 5 year volatility lows
2012-09-07 04:32 GMT | GBP/USD upside favored – V.Bednarik
2012-09-07 03:35 GMT | AUD/USD at day highs; stops at 1.03 tripped
2012-09-07 03:19 GMT | Fitch warns Japan rating in danger to be downgraded
EURUSD : 1.26371 / 1.26376
DAILY WEEKLY MONTHLY
1.2741 | 1.2697 | 1.2654
1.2610 | 1.2566 | 1.2524
SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
United States Nonfarm Payrolls at 12:00 GMT in focus today as major marked driver. Economist’s consensus is 130K. Hourly, instrument looks overbought and we expect some gradual easing below the next support level at 1.2610 (S1) later on today. Our suggested targets are 1.2566 (S2) and 1.2524 (S3). While next resistances is seen at 1.2654 (R1), clearance here is required for instrument strengthening towards to our next targets at 1.2697 (R2) and 1.2741 (R3) later on today.
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GBPUSD : 1.59330 / 1.59340
DAILY WEEKLY MONTHLY
1.6003 | 1.5975 | 1.5943
1.5917 | 1.5889 | 1.5860
SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
GBPUSD bounced on the Mario Draghi’s commentary yesterday. Next portion of macroeconomic data release from UK is expected today at 08:30 GMT - Manufacturing Production. Our main scenario remains unchanged, GBPUSD at the moment deviate from its up-trend on the short term timeframe. Next resistance is maintained at 1.5943 (R1), break here might open space for a move to test targets at 1.5975 (R2) and 1.6003 (R3) in potential. However on the medium term, market is overbought and correction is possible from current levels. Decrease below the support at 1.5917 (S1) might expose next targets at 1.5889 (S2) and 1.5860 (S3).
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USDJPY : 78.927 / 78.930
DAILY WEEKLY MONTHLY
79.42 | 79.22 | 79.03
78.77 | 78.58 | 78.38
SUMMARY : Up
TREND : Upward penetration
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
The USD rose yesterday versus the JPY, turning hourly sentiment to the positive territory and exposed our final target at 78.92. Next resistance ahead at is placed at yesterday high- 79.03 (R1), brake here is required to open way for further appreciation towards to 79.22 (R2) and 79.42 (R3). On the downturn, price decline below the next support levels at 78.77 (S1) might trigger bearish pressure and enable next target at 78.58 (S2). A break below it would suggest last target for today at 78.38 (S3).
Source: FX Central Clearing Ltd,( Automatic forex trading | Learning Forex Trading | ECN Forex Trading Signal | FXCC )
Market Overview by FXCC Sep 10 2012
Market Overview by FXCC Sep 10 2012
If QE3 happens, may mark the end of USD weakness - Standard Chartered
Following the downbeat US NFP data, which for the majority of market participants paves the way for the next round of easing by the Fed being announced as soon as this week, there is other entities, like Standard Chartered, which remain more skeptical on getting too excited on this prospects. According to analysts in the bank, "we do not think US August payroll data means QE3 is a done deal in September." The bank also adds, "if QE3 happens, it actually may mark the end, not the beginning, of USD weakness." Standard Chartered remains underweight EUR, "supported by the view this week’s FOMC will disappoint" the bank notes.
London session ahead will be a middle soft one in regards of EUR macro data related, though could become into a volatile day anyways with the Troika heading to Greece, and PM Samaras expected to meet ECB tomorrow. First will come French business sentiment at 06:30 GMT, followed 15 minutes later by French industrial production, EU Sentix indicator at 08:30 GMT, and Greek CPI. In the EZ sovereign debt auctions front Germany will sell up to € 4B in 6 month bills at 06:00 GMT, with risk premium to Spanish bonds narrowing last at 413bps, at multi-week lows.
Read More
https://support.fxcc.com/email/technical/10092012/
UPCOMING EVENTS :
2012-09-10 06:00 GMT | Japan. Eco Watchers Survey: Outlook (Aug)
2012-09-10 08:30 GMT | E.M.U. Sentix Investor Confidence (Sep)
2012-09-10 19:00 GMT | United States. Consumer Credit Change (Jul)
2012-09-10 22:45 GMT | New Zealand. Gross Domestic Product (QoQ) (Q2)
FOREX NEWS :
2012-09-10 04:47 GMT | GBP/USD: upside remains favored – V.Bednarik
2012-09-10 04:23 GMT | EUR/USD stable below 1.2800
2012-09-10 02:04 GMT | USD/JPY holds scope for more slides – V.Bednarik
2012-09-10 00:43 GMT | AUD/USD range bound above 1.0350
EURUSD : 1.27833 / 1.27839
DAILY WEEKLY MONTHLY
1.2920 | 1.2870 | 1.2817
1.2754 | 1.2700 | 1.2652
SUMMARY : Up
TREND : Up trend
MA10 : Bearish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
After the U.S. Non-Farm Employment Change release on Friday, EURUSD climbed above the suggested target at 1.2741 and closed US session on the positive tone. Next resistance level for today locates at Friday’s High - 1.2817 (R1). Rise above it might lead to the further trend development with next possible targets at 1.2870 (R2) and 1.2920 (R3). Downside direction is limited by next support level at 1.2754 (S1), price decrease below it would be targeting next support at 1.2700 (S2), decrease below it would suggest support at 1.2652 (S3) as final target for today.
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GBPUSD : 1.59938 / 1.59945
DAILY WEEKLY MONTHLY
1.6103 | 1.6069 | 1.6034
1.5976 | 1.5942 | 1.5909
SUMMARY : Up
TREND : Up trend
MA10 : Bearish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
GBPUSD met our target at 1.6003 on the Friday move and settled positive bias on the hourly timeframe. Next resistance ahead, preventing further appreciation, is seen at 1.6034 (R1). Rising up above this level would suggest next targets at 1.6069 (R2) and 1.6103 (R3) in potential. On the other point, if the market manage to brake next support level at 1.5976 (S1), we might see pull back development with possible targets at 1.5942 (S2) and 1.5909 (S3) later on today.
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USDJPY : 78.224 / 78.228
DAILY WEEKLY MONTHLY
78.74 | 78.54 | 78.36
78.01 | 77.81 | 77.62
SUMMARY : Down
TREND : Downward penetration
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Pair formed fresh low on Friday’s move and now deviate from its initial downtrend formation. Next resistance level lie at 78.36 (R1), clearance here might provide space for pair strengthening towards to next expected target at 78.54 (R2). Brake here is required to enable final target at 78.74 (R3). Risk of price depreciation is seen below the next support level at 78.01 (S1). Price progress below it might expose targets at 77.81 (S2) and 77.62 (S3) in perspective.
Source: FX Central Clearing Ltd,( ECN Forex Trading For Beginners | Automated Forex Trading Systems | Forex Automated Trading | FXCC )
Market Overview by FXCC Sep 11 2012
Market Overview by FXCC Sep 11 2012
EUR/USD rally a bluff until Spain bailout request?
Spanish Prime Minister Rajoy affirmed on Monday, in a RTVE Spanish TV interview, that his team is "studying bailout conditions." On the contrary, he also said he will refuse outside conditions over a possible bailout, a contradictory statement that sooner or later will see the harsh reality slashing in his face, Either in coming weeks/monhts.
London session ahead will be a soft one again in terms of EUR macro data related, with only some French jobs data at 05:30 GMT, followed by German whole price index 30 minutes later, and Dutch trade balance at 07:30 GMT. No major EZ sovereign debt auction either taking place but some Dutch bond selling at 08:00 GMT
Read More
https://support.fxcc.com/email/technical/11092012/
UPCOMING EVENTS :
2012-09-11 08:30 GMT United Kingdom. Goods Trade Balance (Jul)
2012-09-11 12:00 GMT United States. Trade Balance (Jul)
2012-09-11 17:00 GMT United States. 3-Year Note Auction
2012-09-11 23:50 GMT Japan. Machinery Orders (YoY) (Jul)
FOREX NEWS :
2012-09-11 04:47 GMT EUR/USD capped below 1.2800
2012-09-11 04:31 GMT GBP/USD bid above 1.6000
2012-09-11 04:48 GMT AUD to underperform – UBS
2012-09-10 23:20 GMT AUD/USD within tight range around 1.0330
EURUSD : 1.27699 / 1.27702
DAILY WEEKLY MONTHLY
1.2920 | 1.2870 | 1.2817
1.2754 | 1.2700 | 1.2652
SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Despite the consolidation provided yesterday, EURUSD still under the bullish pressure on the medium term perspective. All of our supports and resistance levels remain at the same levels. Brake above the resistance at 1.2817 (R1) would suggest next target at 1.2870 (R2) and any further gain would then be limited to 1.2920 (R3). However break below the support at 1.2754 (S1) might provide necessary space for further retracement development. We suggest next target at 1.2700 (S2), brake here is required to enable final target at 1.2652 (S3).
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GBPUSD : 1.60091 / 1.60098
DAILY WEEKLY MONTHLY
1.6103 | 1.6069 | 1.6034
1.5976 | 1.5942 | 1.5909
SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Pair dropped below the suggested support level at 1.5976 but failed to establish significant move. We expect a new attack for that level today. Decline below the support level at 1.5976 (S1) would suggest next target at 1.5942 (S2), further easing might face last support for today at 1.5909 (S3). If the price manages to stay above the suggested support at 1.5976 (S1), we expect market to retest our next resistance level at 1.6034 (R1). Clearance here is required for the instrument strengthening towards to our targets at 1.6069 (R2) and 1.6103 (R3) in potential. In focus is the Goods Trade Balance (Jul) release at 08:30 GMT.
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USDJPY : 78.218 / 78.223
DAILY WEEKLY MONTHLY
78.74 | 78.54 | 78.36
78.01 | 77.81 | 77.62
SUMMARY : Down
TREND : Sideway
MA10 : Bearish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
We are not expecting significant volatility increase today however Japan Machinery Orders (release at 23:50 GMT might assist to the trend development. Measures of resistance might be activating when the pair approaches the 78.36 (R1), brake here would suggest next target at 78.54 (R2). If the price holds its momentum on the upside we can expect a further rise towards to 78.74 (R3). Fresh low is acting as support level for the pair at 78.01 (S1). Loss here might drive market price towards to our next target at 77.81 (S2) and any further easing would then be focus on last support at 77.62 (S3).
Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)