Update - Daily Technical Levels from FXCC - page 33
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Daily Forex Market Analysis from FXCC Nov 06 2012
Daily Forex Market Analysis from FXCC Nov 06 2012
Greece submits austerity bill to parliament; narrow win expected
The Greece government submitted on Monday the €13.5bn austerity bill to parliament. Now the next step is to vote for it, first to be considered by parliamentary committees on Tuesday and a full vote on Wednesday. Despite there has been some defectors the ruling coalition, expectations are pointing for a narrow win, thought to be enough to not jeopardize the next aid tranche worth over EUR 31.5 billion. According to James Coleman, Founder at Forexlive: "A failure to pass the austerity law would send the entire bailout process into chaos and rise the prospect of Greece defaulting later this month. A much weaker euro would result."
As the Guardian UK notes: "Democratic Left, the junior partner in the coalition, tells us it will abstain on the vote and predicts a narrow win for Antonis Samaras's government." A Reuters report raised concerns earlier on Monday, after it suggested that eurozone leaders will hold out any decision on the next disbursement to Greece until the last minute, that is, the next November 12 EU official meeting may yet again disappoint on this front as no guarantee of a decision seems in sight.- FXstreet.com
https://support.fxcc.com/email/technical/06112012/
UPCOMING EVENTS :
2012-11-06 **:** GMT | United Kingdom. 10-y Bond Auction
2012-11-06 08:58 GMT | European Monetary Union. Markit Services PMI
2012-11-06 10:00 GMT | European Monetary Union. Producer Price Index
2012-11-06 20:00 GMT | New Zealand. RBNZ Financial Stability Report
FOREX NEWS :
2012-11-06 05:09 GMT | USD/JPY drags down to 80.00
2012-11-06 05:02 GMT | AUD/USD wins +1.04 battle; scope for further gains
2012-11-06 04:24 GMT | AUD/NZD penetrates into new 1.2580-1.2670 range
2012-11-06 04:23 GMT | GBP/AUD dip stalls ahead of 50% Fibo
--------------------------------------
EURUSD :
HIGH 1.28032 LOW 1.27818 BID 1.27886 ASK 1.27892 CHANGE -0.05% TIME 08 : 09 : 24
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Long direction: EURUSD refreshed its low yesterday and currently deviates from its initial downtrend formation. Next resistance is seen at 1.2807 (R1). Break here is required to enable bullish power with next possible targets at 1.2837 (R2) and 1.2868 (R3). Short direction: Pair has settled negative bias on the hourly timeframe and decline below the support level at 1.2767 (S1) would suggest further downtrend development with possible targets at 1.2740 (S2) and 1.2711 (S3).
Resistance Levels: 1.2807, 1.2837, 1.2868
Support Levels: 1.2767, 1.2740, 1.2711
------------------------------
GBPUSD :
HIGH 1.59908 LOW 1.59709 BID 1.59852 ASK 1.59857 CHANGE 0.04% TIME 08 : 09 : 25
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Long direction: Downside formation remains in power however today we expect to see attack to our resistance levels. Upwards penetration is limited by next resistance level at 1.6009 (R1) today. Surpassing of this level would suggest next targets at 1.6029 (R2) and 1.6048 (R3) in potential. Short direction: Medium term market sentiment remains negative for GBPUSD. If the pair gains momentum on the downside today and overcome our next support level at 1.5970 (S1), we suggest next targets at 1.5951 (S2) and 1.5932 (S3).
Resistance Levels: 1.6009, 1.6029, 1.6048
Support Levels: 1.5970, 1.5951, 1.5932
----------------------------------
USDJPY :
HIGH 80.298 LOW 79.962 BID 80.019 ASK 80.022 CHANGE -0.34% TIME 08 : 09 : 26
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Long direction: Market corrected from previous week gains and looks set to establish upwards development on the longer term. Our next resistance is placed at 80.13 (R1). Rise above it might push price towards to next targets at 80.26 (R2) and 80.39 (R3) intradayShort direction: Current market depreciation has determined negative market sentiment for the remaining of the day. Risk of further market depreciation is seen below the next support level at 79.95 (S1). Loss here would suggest intraday targets at 79.83 (S2) and 79.70 (S3).
Resistance Levels: 80.13, 80.26, 80.39
Support Levels: 79.95, 79.83, 79.70
FX Central Clearing Ltd,( ECN Global Forex Trading | Forex Trading Charts | Best Forex Trading | FXCC )
Daily Forex Market Analysis from FXCC Nov 07 2012
Daily Forex Market Analysis from FXCC Nov 07 2012
Obama re-elected as US President
Barack Obama's second four year term in the White House is a reality, with semi-official confirmations given just minutes after 4GMT when most media outlets, including NBC, CBS, SKY,AP, Bloomberg, projected Obama's victory in Ohio, a key state for Obama in order to guarantee another second four year mandate. Mel Know, Editor at FXstreet.com, reports: "there were people somewhat surprised of the early confirmation of victory, but Obama has been picking off key swing states one by one. With 73% of the vote in, Ohio is projected to go to the president – no republican has ever won the presidency without winning Ohio. The president has also won in Wisconsin and Pennsylvania, leaving Romney required to win all three battleground states of Ohio, Florida and Virginia, where the race is too close to call. But the president has already reached the magical 270 Electoral College mark. Game over."
The USD was sold-off aggressively as soon as the news of an Obama win came in, with markets pricing in an extended term from the president that has brought the US debt to GDP to uncharted territories by enjoying at the helm of the Fed ultra-dovish Federal Reserve Chairman Ben Bernanke and his quest for QE to infinity.According to John J Hardy, Head of FX Strategy at Saxo Bank, the Obama victory, "is more risk positive, USD negative as immediate reaction, but any further reaction in this direction could quickly fade as uncertainty over fiscal cliff settles, which would be USD positive and risk negative." - FXstreet.com
https://support.fxcc.com/email/technical/07112012/
UPCOMING EVENTS :
2012-11-07 08:15 GMT Switzerland. Consumer Price Index
2012-11-07 10:00 GMT European Monetary Union. Retail Sales
2012-11-07 15:30 GMT United States. EIA Crude Oil Stocks change
2012-11-07 21:45 GMT New Zealand. Unemployment Rate
FOREX NEWS :
2012-11-07 05:34 GMT GBP/USD advances on projected Obama victory
2012-11-07 04:46 GMT AUD/USD prints fresh 5-week highs above 1.0450
2012-11-07 04:32 GMT EUR/USD attacking 1.2880; Obama edges closer to victory
2012-11-07 03:37 GMT USD/JPY slides as election results flow in
-------------------------
EURUSD
HIGH 1.28748 LOW 1.27833 BID 1.28626 ASK 1.28632 CHANGE 0.39% TIME 07: 56 : 59
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Long direction: EURUSD gained momentum on the positive side after the Obama become re-elected US President. Break out of our resistance level at 1.2875 (R1) is required to enable route towards to next suggested targets at 1.2896 (R2) and 1.2917 (R3).Short direction: Possibility of pull back is seen below the support at 1.2842 (S1). Loss here might take the pair towards to eventual targets, located at 1.2821 (S2) and 1.2799 (S3) in potential.
Resistance Levels: 1.2875, 1.2896, 1.2917
Support Levels: 1.2842, 1.2821, 1.2799
-------------------------
GBPUSD
HIGH 1.60363 LOW 1.59682 BID 1.60338 ASK 1.60345 CHANGE 0.23% TIME 07: 57: 00
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Long direction: Intraday market sentiment is clearly Bullish. Protective measures for the upside development is seen at 1.6040 (R1). Break here would suggest next intraday targets at 1.6054 (R2) and 1.6067 (R3). Short direction: Our targets at 1.6005 (S2) and 1.5991 (S3) might be exposed if the downside extension below the support level at 1.6020(S1) occur later on today.
Resistance Levels: 1.6040, 1.6054, 1.6067
Support Levels: 1.6020, 1.6005, 1.5991
-------------------------------
USDJPY
HIGH 80.413 LOW 79.811 BID 80.112 ASK 80.116 CHANGE -0.3% TIME 07: 57: 02
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Long direction: Possibility to change market sentiment to positive is seen above the 20 SMA, we placed our next resistance level at 80.21 (R1). Break here is required to turn in focus higher target at 80.31 (R2) and any further increase would then be targeting to 80.40 (R3). Short direction: Technically, further market decline is more likely scenario for today while both moving averages are pointing down. Decrease below the next support level at 79.96 (S1) might enable bearish forces, targeting 79.87 (S2) and 79.78 (S3) in potential.
Resistance Levels: 80.21, 80.31, 80.40
Support Levels: 79.96, 79.87, 79.78
Source: FX Central Clearing Ltd,( Automatic forex trading | Learning Forex Trading | ECN Forex Trading Signal | FXCC )
Daily Forex Market Analysis from FXCC Nov 08 2012
Daily Forex Market Analysis from FXCC Nov 08 2012
Small chance of a ECB rate cut in November; BoE might introduce additional QE
Market experts' views on the ECB and the BoE November monetary policy meetings are rather mixed, as recent economic data and the developments in the European debt crisis as well as the implications of the central banks' latest decisions leaves them with options for action this month. Almost all of the analysts contributing to the special forecast report agree that there is a very slight possibility of the ECB carrying out an interest rate cut at the upcoming meeting because, as Ilian Yotov writes, "with the OMT bond buying program plan already in place" the central bank can afford to wait for another month." Only Yohay Elam believes that "there is a good chance that the ECB will cut the rates by 0.25%" in November, in the light of "a small slide in inflation, the worsening economic situation, and fear of another credit crunch."
As far as the BoE monetary policy meeting is concerned, the experts' projections range from "it should be interesting" to "as usual, a non event." The majority believes that there is a possibility of an extension of the asset purchase program by an additional 50 billion pounds. The upcoming BoE and ECB monetary policy decisions will be announced today at 12:00 and 12:45 GMT, respectively - FXstreet.com
UPCOMING EVENTS :
2012-11-08 **:00 GMT : United Kingdom. BoE Monetary Policy Statement
2012-11-08 12:00 GMT : United Kingdom. BoE Asset Purchase Facility
2012-11-08 13:30 GMT : European Monetary Union. ECB Monetary policy statement and press conference
2012-11-08 13:30 GMT : United States. Trade Balance
FOREX NEWS :
2012-11-08 05:59 GMT : GBP/USD unchanged ahead of BoE meeting
2012-11-08 05:13 GMT : EUR/JPY still under bear pressure; risk weighs
2012-11-08 03:15 GMT : GBP/JPY breaks and holds below 128
2012-11-08 03:02 GMT : Top-heavy NZD/JPY rests around 65.30
------------------------
EURUSD
HIGH 1.27802 LOW 1.27428 BID 1.27625 ASK 1.27631 CHANGE -0.07% TIME 08 : 18 : 29
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Long direction: Today in focus ECB Monetary policy statement and press conference at 13:30 GMT. If the market manage to climb above the resistance level at 1.2783 (R1) we expect next target to be achieved at 1.2803 (R2) and any further rise would then be targeting to 1.2824 (R3). Short direction: The low, formed yesterday is our reference point for further downtrend formation. Decline below the support level at 1.2736 (S1) might open road towards to lower targets, located at 1.2717 (S2) and 1.2698 (S3).
Resistance Levels: 1.2783, 1.2803, 1.2824
Support Levels: 1.2736, 1.2717, 1.2698
---------------------
GBPUSD
HIGH 1.59921 LOW 1.59697 BID 1.59819 ASK 1.59826 CHANGE -0.02% TIME 08 : 18 : 30
OUTLOOK SUMMARY : Sideway
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Long direction: Important macroeconomic data release might push the market in any direction today as it is not stable. Next announcement in focus 12:00 GMT- BoE Asset Purchase Facility. If the pair manages to penetrate above the resistance level at 1.5994 (R1), we suggest next targets at 1.6009 (R2) and 1.6024 (R3). Short direction: We placed our next support level at 1.5963 (S1). Loss here might enable further bearish pressure and downgrade Cable towards to expected targets at 1.5949 (S2) and 1.5935 (S3).
Resistance Levels: 1.5994, 1.6009, 1.6024
Support Levels: 1.5963, 1.5949, 1.5935
------------------
USDJPY
HIGH 80.003 LOW 79.775 BID 79.905 ASK 79.908 CHANGE -0.11% TIME 08 : 18 : 31
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Long direction: USDJPY trades in gradual descending channel on the hourly chart. Climb above the next resistance level at 80.03 (R1) might provide market with sufficient power to attack next target at 80.11(R2) and any further rise would then be limited to 80.20 (R3). Short direction: Today instrument tested negative side and formed fresh low, which is our next support level at 79.77 (S1). Break here is required to enable next targets at 79.68 (S2) and 79.60 (S3).
Resistance Levels: 80.03, 80.11, 80.20
Support Levels: 79.77, 79.68, 79.60
Source: FX Central Clearing Ltd,( ECN Forex Trading For Beginners | Automated Forex Trading Systems | Forex Automated Trading )
Daily Forex Market Analysis from FXCC Nov 09 2012
Daily Forex Market Analysis from FXCC Nov 09 2012
ECB's Draghi: Growth momentum to remain weak in 2013
As expected, the ECB Governing Council decided to keep the main interest rate unchanged at a record low of 0.75% at their November monetary policy meeting. Speaking at the press conference following the meeting ECB head Mario Draghi commented on the considerations underlying the decision. The president suggested that inflation should stay above 2% throughout the rest of 2012 and fall below 2% in the course of of 2013, adding that “over the policy-relevant horizon, in an environment of modest growth in the euro area and well-anchored long-term inflation expectations, underlying price pressures should remain moderate.”
Mario Draghi said that growth momentum in the Eurozone would remain weak in 2013. He assured however that ECB's monetary policy was directed at stimulating growth in the area and that its readiness to activate the OMT program was boosting market confidence. He urged EU governments to continue reducing fiscal imbalances and applying structural reforms to strengthen growth potential in the area. He said that positive effects of the fiscal consolidation efforts so far could already be seen and that a quick implementation of the fiscal compact would further reassure markets - FXstreet.com
https://support.fxcc.com/email/technical/09112012/
UPCOMING EVENTS :
2012-11-09 07:00 GMT : Germany. Harmonised Index of Consumer Prices
2012-11-09 09:30 GMT : United Kingdom. Total Trade Balance
2012-11-09 14:55 GMT : United States. Reuters/Michigan Consumer Sentiment Index
2012-11-09 15:00 GMT : United States. Wholesale Inventories
FOREX NEWS :
2012-11-09 05:52 GMT : EUR/USD needs break of key fibo to resume bear's party
2012-11-09 05:27 GMT : GBP/USD finding buyers above 1.6000
2012-11-09 04:56 GMT : EUR/NZD stalling around 38.2% Fibo retrace at 1.5650
2012-11-09 03:50 GMT : AUD/CAD near 3-month highs above 1.04
--------------------------
EURUSD :
HIGH 1.279 LOW 1.27334 BID 1.27758 ASK 1.27762 CHANGE 0.23% TIME 08:18:01
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Long direction: We are not expecting significant moves today however current market installation might extend its power towards to our resistance levels later on today. Our next resistance level holds at 1.2803 (R1). A break here might expose next targets 1.2828 (R2) and 1.2852 (R3). Short direction: If it fails to establish intraday positive bias we expect retest of our next support level at 1.2761 (S1). Price penetration below it might open way towards to next targets at 1.2735 (S2) and 1.2708 (S3).
Resistance Levels: 1.2803, 1.2828, 1.2852
Support Levels: 1.2761, 1.2735, 1.2708
--------------------------
GBPUSD :
HIGH 1.60192 LOW 1.59692 BID 1.60073 ASK 1.60079 CHANGE 0.16% TIME 08:18:02
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Long direction: Technically, instrument moves without priority in direction on the hourly chart. In such situation we suggest waiting for a clear signal of market sentiment change. Possible strengthening might arise above the next resistance level at 1.6020 (R1). Next targets holds at 1.6035 (R2) and 1.6048 (R3) levels. Short direction: A break of next support level at 1.5983 (S1) might extend easing towards to expected targets at 1.5969 (S2) and 1.5955 (S3) levels.
Resistance Levels: 1.6020, 1.6034, 1.6048
Support Levels: 1.5983, 1.5969, 1.5955
------------------------
USDJPY :
HIGH 79.61 LOW 79.424 BID 79.560 ASK 79.563 CHANGE 0.11% TIME 08:18:03
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Long direction: Instrument stabilized after the fresh low provided yesterday. If it manages to stay above it we expect retracement development towards to resistance level at 79.62 (R1). Clearance here would suggest next targets at 79.71 (R2) and 79.82 (R3). Short direction: Decrease below the support level at 79.45 (S1) might open route towards to next targets at 79.35 (S2) and 79.25 (S3) and extends its bearish pressure on the medium term perspective.
Resistance Levels: 79.62, 79.71, 79.82
Support Levels: 79.45, 79.35, 79.25
Source: FX Central Clearing Ltd, (ECN Forex Broker | ECN Forex Trading Platform | Foreign Currency Exchange | Best Currency Online Trading | FXCC)
Daily Forex Analysis from FXCC Nov 12 2012
Daily Forex Analysis from FXCC Nov 12 2012
Greece passes 2013 budget bill
After holding a vote on its 2013 national budget, the Greek government has passed the bill, one that includes additional cuts touching the most controversial areas of pensions, salaries and benefits. The reaction by the markets has been very subdued, with Euro ticking marginally higher. At present, worries are far greater on the prospects of Greece facing a default scenario this week, something that renowned papers like the Financial Times highlight on its front-cover. Greece should find a way to raise as much as €5bn in order to avoid default in a coupon of debt maturity, with the Troika and European paymasters, including Germany, still stuck in an impasse as to how to ease the country's debt burden, and with authorities still in disagreement over providing Greece the next aid tranche worth over €31.5 billion.
For the short term, the Financial Times reports in a weekend article that "the country’s debt management office has announced plans to cover the full amount through a treasury bill auction on Tuesday, but Greek banks expected to buy the issue can only raise about €3.5bn of collateral acceptable to the ECB, according to two senior Athens bankers" the paper reports. It is thought that in case of a shortfall in the capital raised, Greece will have to tap funds from a reserve for bank recapitalisation held by the Hellenic Financial Stability Fund, worth over €3 billion, as option of last resort-FXstreet.com
https://support.fxcc.com/email/technical/12112012/
UPCOMING EVENTS :
2012-11-12 **:** GMT : European Monetary Union. Eurogrup meeting
2012-11-12 06:00 GMT : Japan. Machine Tool Orders
2012-11-12 21:45 GMT : New Zealand. Food Price Index
FOREX NEWS :
2012-11-12 05:15 GMT : GBP/USD stands at 1.59, above 200 DMA
2012-11-12 05:15 GMT : EUR/GBP waiting for Eurogroup Meeting, flat at 0.8 round
2012-11-12 04:12 GMT : USD/JPY may test 79.70-80.00 - BBH
----------------------------
EURUSD :
HIGH 1.27365 LOW 1.27095 BID 1.27289 ASK 1.27294 CHANGE 0.15% TIME 08 : 19 : 31
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Long direction: Fresh cross of moving averages might be a signal of possible correction ahead. Next resistance level is in focus at 1.2740 (R1). Rise above it would then be targeting to 1.2769 (R2) and 1.2797 (R3) in perspective. Short direction: Though, EURUSD might spend most of the day in a narrow range amid limited tier-one data flow. Our downside targets at 1.2679 (S2) and 1.2648 (S3) might expose if the downside extension below the support level at 1.2708 (S1) occur later on today
Resistance Levels: 1.2740, 1.2769, 1.2797
Support Levels: 1.2708, 1.2679, 1.2648
------------------------------
GBPUSD :
HIGH 1.59124 LOW 1.5891 BID 1.59099 ASK 1.59102 CHANGE 0.11% TIME 08 :19 : 32
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low
Long direction: The low from 08-11-2012 at 1.5928 (S1) is acting now as key resistance level for upside formation. If the price manages to break it, we expect retracement development with next targets in focus 1.5955 (R2) and 1.5982 (R3). Short direction: Risks of further depreciation is seen below the support at 1.5886 (S1). Break through here might take the pair towards to eventual targets located at 1.5861 (S2) and 1.5836 (S3) in potential.
Resistance Levels: 1.5928, 1.5955, 1.5982
Support Levels: 1.5886, 1.5861, 1.5836
-------------------------------------
USDJPY :
HIGH 79.563 LOW 79.401 BID 79.480 ASK 79.483 CHANGE 0.02% TIME 08 :19 : 33
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low
Long direction: Instrument trades in narrow range on the short term perspective. Clearance of next resistance level 79.57 (R1) might determine positive bias for the day and suggest next targets at 79.68 (R2) and 79.79 (R3). Short direction: On the longer term, tendency on USDJPY remains negative and current stabilization might be considered as a part of correction. If the market manage to break next support level at 79.35 (S1), we expect exposure of targets at 79.25 (S2) and 79.15 (S3) in potential.
Resistance Levels: 79.57, 79.68, 79.79
Support Levels: 79.35, 79.25, 79.15
Source: FX Central Clearing Ltd,( Best Forex Trading Software | ECN Forex News Trading | Forex Options Trading | FXCC )
Daily Forex Analysis from FXCC Nov 13 2012
Daily Forex Analysis from FXCC Nov 13 2012
U.S. ‘Fiscal Cliff’ likely to rock USD – Goldman Sachs
Looking ahead to December 31, 2012 and January 1, 2013, Goldman Sachs’ Global FX Monthy Analyst, says the upcoming U.S. ‘fiscal cliff’ episode has noteworthy potential to boost USD initially, followed by a sharp USD sell-off. Goldman Sachs explains: “The logic of this price action closely follows the pattern of markets temporarily losing confidence in the ability of polarised policymakers to compromise. During this period it may look as if the ‘fiscal cliff’ is becoming reality and that the economy could face a negative fiscal shock of up to 5% of GDP. The temporary negative response in cyclical assets would likely also trigger a broader USD rally.” Goldman Sachs continues: “After that, when policymakers do find a compromise, possibly helped by the market concerns reflected in cyclical asset weakness, risk sentiment could improve rapidly and the USD would weaken again.”
Busy day ahead for the London session A bunch of data releases will keep traders glued to the wires today. The show starts with French jobs data and current account at 07:45 GMT, followed 15 minutes later by Spanish CPI, Italian CPI at 09:00 GMT, and the highly followed German ZEW at 10:00 GMT, while the ECOFIN meeting, held in Brussels, will take place all day long. Bank of Portugal will also release its Autumn economic bulletin, with CPI figures for Portugal at 10:00 GMT. At 14:30 GMT Greek FinMin Stournaras will speak to EU lawmakers, while EU managing director of the Institute of International Finance Dallara will hold talks with senior government officials and private sector leaders regarding Greece and the Euro Area. In the sovereign debt auctions front, Italy will deliver 12 month bills, with 10 year bond yields standing barely above 5.03%, steady around the 5% figure for last 2 months, while Greece will try to sell 13-weeks T-Bill, as mentioned above.
2012-11-13 **:** GMT : United Kingdom. BOE Inflation Letter
2012-11-13 09:30 GMT : United Kingdom. Consumer Price Index
2012-11-13 10:00 GMT : Germany. ZEW Survey - Economic Sentiment
2012-11-13 19:00 GMT : United States. Monthly Budget Statement
2012-11-13 05:52 GMT : GBP/USD weakens ahead of UK CPI
2012-11-13 05:02 GMT : GBP/JPY cracks 126.00 to multi-week lows
2012-11-13 04:05 GMT : AUD/NZD prints inside day pin at 200 EMA
2012-11-13 03:08 GMT : USD/JPY pressured as risk wanes
----------------------
EURUSD :
HIGH 1.27098 LOW 1.26731 BID 1.26854 ASK 1.26859 CHANGE -0.18% TIME 08 : 31: 38
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: We expect busy session ahead. Yesterday low is acting now as key resistance level at 1.2698 (R1). Appreciation above it might enable next targets at 1.2722 (R2) and 1.2746 (R3) in potential. Downwards scenario: Medium term bias remains negative as both moving averages are pointing down. We expect retest of our support at 1.2672 (S1). Easing below it would suggest next targets at 1.2648 (S2) and 1.2624 (S3) in potential.
Resistance Levels: 1.2698, 1.2722, 1.2746
Support Levels: 1.2672, 1.2648, 1.2624
----------------------
GBPUSD :
HIGH 1.58776 LOW 1.58577 BID 1.58683 ASK 1.58691 CHANGE -0.05% TIME 08 : 31: 39
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: Instrument gained momentum on the negative side, though we expect formation of retracement ahead. Progress above the resistance level at 1.5888 (R1) would suggest next targets at 1.5911 (R2) and 1.5933 (R3) in potential. Downwards scenario: Immediate focus comes on our next support level at 1.5856 (S1). Price penetration below it might open way towards to next targets at 1.5834 (S2) and 1.5811(S3).
Resistance Levels: 1.5888, 1.5911, 1.5933
Support Levels: 1.5856, 1.5834, 1.5811
----------------------
USDJPY :
HIGH 79.641 LOW 79.226 BID 79.292 ASK 79.293 CHANGE -0.25% TIME 08:31:40
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: Neutral hourly studies point towards further consolidation, with a break required to spark stronger upside action. Our next resistance level is placed at 79.36 (R1). Break above it might open initial targets at 79.44 (R2) and 79.54 (R3) in potential. Downwards scenario: Fresh low offers initial support level at 79.22 (S1), possible pushdown of the price below it would suggest next targets at 79.13 (S2) and 79.05 (S3).
Resistance Levels: 79.36, 79.44, 79.54
Support Levels: 79.22, 79.13, 79.05
Source: FX Central Clearing Ltd,( forex trading brokers | automated forex trading system | forex trading for dummies | FXCC )
Daily Forex Analysis from FXCC Nov 14 2012
Daily Forex Analysis from FXCC Nov 14 2012
Bild story on bundled aid payment for Greece boosts sentiment.
German newspaper Bild Zeitung published an article in which it claims that the Berlin is preparing a 44 billion euro aid payment for Greece, combined from three pending bailout tranches. When asked about the report, German Finance Minister's spokeswoman said that no decision has been taken on the Greek bailout. “Color me skeptical”, writes Mark Chandler, Global Head of Currency Strategy for BBH. “To give Greece such a large sum at once is counter to the underlying strategy of doling out the aid in tranches to provide assurances of compliance. This is tantamount to unilateral disarmament by the creditors. Second, three euro area members require parliamentary approval, Germany, Finland and the Netherlands. It it unlikely to receive support.” The Bild report boosted sentiment and the Euro rebounded off a two-month low against the greenback.
The Greek Public Debt Management Agency held a bond auction on Tuesday in order to roll over 5 billion euros of debt maturing on November 16. It sold 4.062 billion euros worth of 1-month and 3-month T-bills and the total amount should reach 5 billion if all non-competitive bids are included. 1-month T-bills were sold at an average yield of 3.95%, while 3-month T-bills yielded 4.2%, compared to 4.24% seen in October. The auction was given the green light by the ECB which had to raise the ceiling on the amount of T-bills so that Athens would be able to continue refinancing short-term debt -FXstreet.com
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UPCOMING EVENTS :
2012-11-14 09:30 GMT : United Kingdom. ILO Unemployment Rate
2012-11-14 10:30 GMT : United Kingdom. BoE's Governor King Speech
2012-11-14 13:30 GMT : United States. Retail Sales
2012-11-14 19:00 GMT : United States. FOMC Minutes
FOREX NEWS :
2012-11-14 04:03 GMT : Outlook bullish on EUR/USD – Goldman Sachs
2012-11-14 03:19 GMT : AUD/NZD limited below 1.2800, 61.8% Fibo
2012-11-14 02:31 GMT : GBP/JPY back above 126.00; Regional bourses support
2012-11-14 01:08 GMT : AUD/JPY capped below 1H 200 SMA
EURUSD :
HIGH 1.27287 LOW 1.27001 BID 1.27216 ASK 1.27219 CHANGE 0.14% TIME 08 : 03 : 01
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Pair has settled negative bias on the hourly timeframe but recently moved in sideways mode. Above the fresh high at 1.2730 (R1) is possible retracement development. Violation here might expose next targets at 1.2746 (R2) and 1.2763 (R3). Downwards scenario: Loss of next support at 1.2703 (S1) might drive market price towards to the next targets at 1.2684 (S2) and 1.2666 (S3).
Resistance Levels: 1.2730, 1.2746, 1.2763
Support Levels: 1.2703, 1.2684, 1.2666
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GBPUSD :
HIGH 1.58923 LOW 1.58663 BID 1.58917 ASK 1.58920 CHANGE 0.13% TIME 08 : 03 : 02
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: GBPUSD trades in positive tone on the short term perspective. Successful penetration above the resistance at 1.5900 (R1) might provide sufficient space for the price increase towards to our targets at 1.5915 (R2) and 1.5931 (R3). Downwards scenario: Medium term bias remains negative on the hourly chart. If the pair extend its bearish pressure below the next support level at 1.5866 (S1), we suggest next targets at 1.5849 (S2) and 1.5830 (S3).
Resistance Levels: 1.5900, 1.5915, 1.5931
Support Levels: 1.5866, 1.5849, 1.5830
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USDJPY :
HIGH 79.573 LOW 79.385 BID 79.565 ASK 79.566 CHANGE 0.23% TIME 08 : 03 : 02
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: USDJPY gained momentum on the positive side today and determined positive bias for the remaining day. We expect some consolidation ahead, though If the market manages to climb above the resistance level at 79.83 (R1) we suggest next targets at 79.92 (R2) and 80.02 (R3) in potential.Downwards scenario: Yesterday high is acting now as key support level at 79.64 (S1), clearance here is required to attack lower targets at 79.53 (S2) and 79.43 (S3).
Resistance Levels: 79.83, 79.92, 80.02
Support Levels: 79.64, 79.53, 79.43
Source: FX Central Clearing Ltd,( forex trading news | forex trading secrets | forex trading tools | FXCC )
Daily Forex Analysis from FXCC Nov 15 2012
Daily Forex Analysis from FXCC Nov 15 2012
EU's Rehn: Spain has taken effective action on budget deficits in 2012 and 2013
EU Economic and Monetary Affairs Commissioner Olli Rehn made a statement on Spain on Wednesday, regarding the country's deficit moves. According to the European Commission's assessment the Spanish government has taken effective action for 2012, 2013 as far as restoring sustainability of public finances is concerned. Nevertheless, it would fail to meet the deficit target for 2014.
Mr Rehn declared that Spain currently does not need additional measures and that the progress of its budget consolidation will be evaluated once again by the EU in February, by which time it might be necessary to introduce further measures. He added that he does not see the need for Rajoy's government making a bailout request in the nearest future. The EU Economic and Monetary Affairs Commissioner also acknowledged that Spain is currently undergoing difficult rebalancing of the economy and that its government and people are making great efforts to assure sustainability of the country’s finances.
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UPCOMING EVENTS :
2012-11-15 09:00 GMT : Italy. Gross Domestic Product(Preliminar)
2012-11-15 09:30 GMT : United Kingdom. Retail Sales
2012-11-15 10:00 GMT : E.M.U. Gross Domestic Product (Preliminar)
2012-11-15 13:30 GMT : United States. Consumer Price Index Ex Food & Energy
FOREX NEWS :
2012-11-15 04:15 GMT : AUD/USD stalls the dive helped by 1.0350 bids
2012-11-15 04:03 GMT : Short AUD/CAD; target the 1.01 area - Westpac
2012-11-15 03:36 GMT : GBP/AUD offered below 50% Fibo
2012-11-15 00:51 GMT : EUR/USD: Hourly pin forms off 200 EMA; bears encouraged
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EURUSD :
HIGH 1.2753 LOW 1.27174 BID 1.27473 ASK 1.27476 CHANGE 0.09% TIME 08:03:46
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Current market installation might suggest us about the uptrend formation on the hourly timeframe. Break of 1.2758 (R1) is required for attack to the next target at 1.2772 (R2). Final resistance could be found at 1.2787 (R3) today. Downwards scenario: Risk of further market depreciation is seen below the next support level at 1.2730 (S1). Loss here would suggest intraday targets at 1.2715 (S2) and 1.2700 (S3).
Resistance Levels: 1.2758, 1.2772, 1.2787
Support Levels: 1.2730, 1.2715, 1.2700
-----------------------------------
GBPUSD :
HIGH 1.58552 LOW 1.58361 BID 1.58519 ASK 1.58523 CHANGE 0.07% TIME 08:03:47
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: Our next resistance level locates at 1.5859 (R1). If market gains momentum and manage to overcome it, we expect further deviation from the initial downtrend towards to next targets at 1.5877 (R2) and 1.5894 (R3). Downwards scenario: Risk of market weakening is seen below the fresh low at 1.5834 (S1). Loss here would enable bearish forces and might expose our targets at 1.5815 (S2) and 1.5796 (S3).
Resistance Levels: 1.5859, 1.5877, 1.5894
Support Levels: 1.5834, 1.5815, 1.5796
--------------------------
USDJPY :
HIGH 80.943 LOW 80.125 BID 80.931 ASK 80.933 CHANGE 0.85% TIME 08:03:48
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: USDJPY appreciated by 0.85% today and determined clear bullish market sentiment. Our key resistance level locates at fresh high – 80.96 (R1), clearance here would suggest higher targets at 81.10 (R2) and 81.25 (R3) intraday. Downwards scenario: Risk of correction is seen below the next support level at 80.61 (S1), break here is required to enable lower targets at 80.47 (S2) and 80.32 (S3).
Resistance Levels: 80.96, 81.10, 81.25
Support Levels: 80.61, 80.47, 80.32
Source: FX Central Clearing Ltd,( ECN Forex Account | Forex Managed Account | Managed Forex Account | FXCC )
Daily Forex Analysis from FXCC Nov 16 2012
Daily Forex Analysis from FXCC Nov 16 2012
Eurozone officially in recession
Third quarter GDP data for the Eurozone published yesterday revealed that the area has once again slipped into recession. According to Eurostat Q3 GDP was down by 0.1%, which is the second consecutive quarterly decline. Only the German and French economies expanded, both by 0.2%. Martin van Vliet from ING comments: “GDP figures clearly demonstrate that the Eurozone economy as a whole is in desperate need of macroeconomic stimulus. With policymakers seemingly reluctant to engineer a coordinated pull-back from fiscal austerity, more monetary stimulus and a weaker currency is likely to be needed to put Eurozone back on a path of sustained growth.”
ECB Governing Council member Luc Coene declared in the European morning that Spain should urgently seek EU aid. European Commissioner for Economic and Monetary Affairs Olli Rehn, who spoke later in the day, assured that the solution to the Greek problem requires a combination of measures, providing the principal amount of its debt does not change.-FXstreet.com
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UPCOMING EVENTS :
2012-11-16 10:00 GMT : E. M. U. Trade Balance
2012-11-16 14:00 GMT : United States. Net Long-Term TIC Flows
2012-11-16 14:15 GMT : United States. Industrial Production
2012-11-16 20:45 GMT : United States. Fed's Lockhart speech
UPCOMING EVENTS :
2012-11-16 04:31 GMT : GBP/AUD flat around 1.5350; with bullish scope?
2012-11-16 04:28 GMT : AUD/CAD looking more bearish if below 1.0290
2012-11-16 04:06 GMT : USD/JPY consolidation likely next week - Nomura
2012-11-16 01:31 GMT : EUR/USD bears cap rebound at 1.28
EURUSD :
HIGH 1.27845 LOW 1.27645 BID 1.27681 ASK 1.27688 CHANGE -0.09% TIME 08:03:35
OUTLOOK SUMMARY : Up
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: We expect resuming of the uptrend formation if the price manages to overcome next resistance level at 1.2786 (R1). Immediate focus comes on 1.2800 (R1) and 1.2814 (r3) in such scenario. Downwards scenario: Price decline below the next support levels at 1.2759 (S1) might trigger bearish pressure and enable next target at 1.2745 (S2). Further correction development might face final support level at 1.2732 (S3).
Resistance Levels: 1.2786, 1.2800, 1.2814
Support Levels: 1.2759, 1.2745, 1.2732
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GBPUSD :
HIGH 1.58665 LOW 1.58569 BID 1.58597 ASK 1.58604 CHANGE -0.03% TIME 08:03:36
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: A medium-term bias is negative now though intraday bullish forces might be activated if the pair penetrates above the resistance level at 1.5868 (R1). Next immediate resistance levels holds at 1.5884 (R2) and 1.5899 (R3). Downwards scenario: Downside direction is limited by next support level at 1.5841 (S1), price decrease below it would be targeting next supports at 1.5826 (S2) and 1.5810 (S3).
Resistance Levels: 1.5868, 1.5884, 1.5899
Support Levels: 1.5841, 1.5826, 1.5810
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USDJPY :
HIGH 81.268 LOW 80.973 BID 81.010 ASK 81.013 CHANGE -0.19% TIME 08:03:38
OUTLOOK SUMMARY : Up
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: While instrument trades below the resistance level at 81.28 (R1), market would try to form correction. Break above it is required to attack the upside target at 81.50 (R2) and 81.70 (R3) in potential. Downwards scenario: If price would manage to overcome our support at 80.92 (S1) we suggest next targets at 80.70 (S2) and 80.46 (S3).
Resistance Levels: 81.28, 81.50, 81.70
Support Levels: 80.92, 80.70, 80.46
Source: FX Central Clearing Ltd, (ECN Forex Broker | ECN Forex Trading Platform | Foreign Currency Exchange | Best Currency Online Trading | FXCC)
Daily Forex Analysis from FXCC Nov 19 2012
Daily Forex Analysis from FXCC Nov 19 2012
ECB's Asmussen calls for a 2-year funding extension on Greece
FXstreet.com (Barcelona) - Joerg Asmussen, member of the European Central Bank, told German broadcaster ZDF over the weekend, EU leaders should agree on a 2-year loan extension for Greece, with any additional funding plan to be decided at a later stage, confirming the broadly-held view within the EU of 'kicking the can down the road', a position not marrying too well with IMF Director Christine Lagarde, who has been repeatedly calling for a long-standing comprehensible plan.
For today, EUR related economic agenda for the London session ahead looks soft, with only Italian industrial production at 09:00 GMT. However, several conferences in the EU will take place in parallel, ahead of tomorrow's key Eurogroup meetings. The special attention will be headlines from EU Commissioner Barnier and Spain EcoMin De Guindos, speaking at the EU conference on financial stability and the single market at 08:30 GMT. Also Deutsche Bundesbank President Jens Weidmann speech in Frankfurt at the same time will attract market's attention. In the EZ sovereign debt auctions front, France will deliver Treasury bills at 12:45 GMT, with 10 year bond yields stable around the 2% figure, last at 2.08%.
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UPCOMING EVENTS :
2012-11-19 **:00 GMT Japan. BoJ Monetary Policy Meeting Minutes
2012-11-19 10:00 GMT European Monetary Union. Construction Output
2012-11-19 15:00 GMT United States. Existing Home Sales Change
2012-11-19 23:00 GMT Australia. Conference Board Australia Leading Index
UPCOMING EVENTS :
2012-11-19 06:08 GMT EUR/USD advance above 1.28 should command respect
2012-11-19 06:02 GMT GBP/USD rises above 1.59 on positive tone
2012-11-19 04:43 GMT AUD/EUR seen at +0.84 in early 2013 - Westpac
2012-11-19 04:07 GMT EUR/AUD looking for bids around 1.23 mark
EURUSD :
HIGH 1.27734 LOW 1.27401 BID 1.27582 ASK 1.27588 CHANGE 0.13% TIME 07:59:51
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Instrument show up 0.13% rise today and any further appreciation needs to clear barrier at 1.2774 (R1). Intraday targets could be found at 1.2786 (R2) and then at 1.2798 (R3). Downwards scenario: Below the 10 SMA locates our next support level at 1.2751 (S1). Break here might open a route towards to next targets at 1.2739 (S2) and 1.2727 (S3) in perspective.
Resistance Levels: 1.2774, 1.2786, 1.2798
Support Levels: 1.2751, 1.2739, 1.2727
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GBPUSD :
HIGH 1.59233 LOW 1.58806 BID 1.59109 ASK 1.59116 CHANGE 0.17% TIME 07:59:52
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
Upwards scenario: market sentiment is clearly bullish today. Fresh high formed today acts now as next resistance level at 1.5924 (R1). Above here open way towards to next targets at 1.5936 (R2) and then at 1.5947 (R3). Downwards scenario: Risk of depreciation is seen below the local high, formed on the 14-11-2012 at 1.5902 (S1). Break here is required to enable lower targets at 1.5890 (S2) and 1.5877 (S3).
Resistance Levels: 1.5924, 1.5936, 1.5947
Support Levels: 1.5902, 1.5890, 1.5877
----------------------
USDJPY :
HIGH 81.587 LOW 81.125 BID 81.243 ASK 81.247 CHANGE -0.09% TIME 07:59:53
OUTLOOK SUMMARY : Up
TREND CONDITION Up : trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Medium term bias is positive for USDJPY. Risk of market appreciation is seen above the next resistance level at 81.41 (R1). Loss here would suggest next target at 81.62 (R2) and any further rise would then be targeting 81.82 (R3). Downwards scenario: If the pair gains momentum on the downside and manage to break our next support level at 81.10 (S1), it is likely to get acceleration towards to our next support level at 80.90 (S2) and 80.68 (S3), exactly where the 38.2% Fibonacci retracement level lies.
Resistance Levels: 81.41, 81.62, 81.82
Support Levels: 81.10, 80.90, 80.68
Source: FX Central Clearing Ltd,( Forex Practice Account | ECN Broker | ECN Forex | FXCC )