Financial News & Fundamental Analysis - page 10
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EURUSD pair is now trading near 1.33525 ahead of the quarterly European employment release. Anything better than expected may open the road towards higher highs for the single currency. My forecast is the next for buy to the level 1.33950.
GOLD TECHNICAL ANALYSIS – Prices broke below support at 1315.07, the 38.2%.
Fibonacci expansion, exposing the 50% level at 1277.89. The 1316.01 mark has been recast as near-term resistance, with a reversal back above that eyeing the 1347.52-60.96 region marked by a horizontal pivot as well as the 23.6% expansion.
USDJPY
The pair may test its major resistance at 99.00 as the US government forecasts to show accelerated figures for retail sales. It is better to the target 99.50. And stop loss in this case will be 99.16.
- Risk-off in Asia has European FX losing ground to JPY, USD.
- ECB press conference to stoke more volatility than the rate announcement.
- Soft PMI Manufacturing could signal near-term pullback in UK growth momentum; PMI Construction today.
The European Central Bank (ECB) is expected to keep the benchmark interest rate at 0.50% as the monetary union returns to growth, but President Mario Draghi may show a greater willingness further embark on the easing cycle in an effort to encourage a stronger recovery.
What’s Expected:
Time of release: 10/02/2013 11:45 GMT, 7:45 EDT
Primary Pair Impact: EURUSD
Expected: 0.50%
Previous: 0.50%
DailyFX Forecast: 0.50%
GBPUSD
The pair may test its major resistance at 1.61900 as the than pound price will start bearish movement. It is better to sell to the target 1.61270. And stop loss in this case will be 1.62100.