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- 03.01.2013, 09:56 #201alayoua
Forex Technical & Market Analysis FXCC Jan 03 2013
Forex Technical & Market Analysis FXCC Jan 03 2013
Congress Passes Fiscal Cliff Deal – The Breakdown
In a final hour maneuver, Congressional leaders brokered a deal that will allow the US economy to avert the Fiscal Cliff and alleviate pressure on the financial markets. The passage is being considered by some to be a victory for US President Barack Obama. But, by others, it shifts the focus to mid February when discussions are likely to begin over the impending debt ceiling.
With the bill set to be signed into law by US President Barack Obama, focus has now shifted to the impending debt ceiling debate – likely to begin in mid-February. The concern remains over the fact that Democratic leaders will need to make further concessions on spending to Republicans in order to allow an extension of the $16.4 trillion ceiling. An inability to do so would plunge the government into a plausible shutdown. This will likely include cutbacks in entitlement spending and other programs in order to equalize Republican concessions for the Fiscal Cliff deal.
Forex Technical & Market Analysis: January 03 2013
Forex Economic Calendar
2013-01-03 08:55 GMT | Germany. Unemployment Change (Dec)
2013-01-03 09:30 GMT | United Kingdom. PMI Construction (Dec)
2013-01-03 13:30 GMT | United States. Initial Jobless Claims (Dec 29)
2013-01-03 19:00 GMT | United States. FOMC Minutes
Forex News
2013-01-03 05:39 GMT | EUR/GBP struggling to maintain above 0.8100
2013-01-03 05:23 GMT | GBP/USD holding above 1.6200 as Europe approaches
2013-01-03 03:18 GMT | EUR/USD loses 1.3150; stalls at 21-DMA
2013-01-03 03:12 GMT | GBP/AUD finding support at 200 day SMA 1.5450
TECHNICAL ANALYSIS
------------------------
EURUSD
HIGH: 1.31903 | LOW: 1.31238 | BID: 1.31371 | ASK: 1.31377 | CHANGE: -0.36% | TIME: 07 : 48:13
OUTLOOK SUMMARY: Down
TREND CONDITION: Downward penetration
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: High
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Hourly chart correction is possible above the next resistance level at 1.3170 (R1). Next initial targets locate at 1.3189 (R2) and 1.3208 (R3). Downwards scenario: There’s a negative bias that pressures our next support level at 1.3121 (S1). Loss here might enable further market downgrade towards to expected targets at 1.3104 (S2) and 1.3086 (S3).
Resistance Levels: 1.3170, 1.3189, 1.3208
Support Levels: 1.3121, 1.3104, 1.3086
--------------------------------
GBPUSD
HIGH: 1.62551 | LOW: 1.62014 | BID: 1.62219 | ASK: 1.62231 | CHANGE: -0.19% | TIME: 07 : 48:14
OUTLOOK SUMMAR: Down
TREND CONDITION: Downward penetration
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: High
Upwards scenario: Our next resistance level is placed at 1.6258 (R1). Progress above it might enable next step of uptrend development and expose our targets at 1.6277 (R2) and 1.6295 (R3). Downwards scenario: Retracement development is limited to the next support level at 1.6201 (S1). Clearance here might change trader’s sentiment to bearish and open road towards to next targets, located at 1.6183 (S2) and 1.6164 (S3).
Resistance Levels: 1.6258, 1.6277, 1.6295
Support Levels: 1.6201, 1.6183, 1.6164
----------------------
USDJPY
HIGH: 87.356 | LOW: 87.092 | BID: 87.264 | ASK: 87.269 | CHANGE: -0.08% | TIME: 07 : 48:15
OUTLOOK SUMMARY: Up
TREND CONDITION: Up trend
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Medium
Upwards scenario: Market remains bullish oriented and next hurdle lies above the local high at 87.39 (R1).If the break occurs above it, next attractive level could be found 87.59 (R2) and any further rise would then be limited to 87.80 (R3). Downwards scenario: After the appreciation, provided yesterday price is stabilized and correction forces are possible below the support level at 86.96 (S1). Clearance here would suggest next target at 86.75 (S2). If the price holds its momentum on the downside we suggest final target for today at 86.55 (S3).
Resistance Levels: 87.39, 87.59, 87.80
Support Levels: 86.96, 86.75, 86.55
Source: FX Central Clearing Ltd, (ECN Forex Broker | ECN Forex Trading Platform | Foreign Currency Exchange | Best Currency Online Trading | FXCC)
- 04.01.2013, 10:59 #202alayoua
Forex Technical & Market Analysis FXCC Jan 04 2013
Forex Technical & Market Analysis FXCC Jan 04 2013
Two largest rating agencies consider US fiscal cliff deal insufficient
Moody's and Standard and Poor's credit rating agencies urged US lawmakers on Thursday to increase their efforts to tackle the country's budget deficit, as they consider the last-minute fiscal cliff measures insufficient. The deal which was struck on Tuesday between Democrats and Republicans, with the aim to avoid automatic year-end tax increases and spending cuts, improves the current situation but does not lay foundations for lowering debt ratios in the medium term, Moody's rating agency told Reuters. Moody's senior credit officer Steven Hess said that the agency would wait for the outcome of the measures adopted by the US government before making decisions on the rating outlook or the rating itself.
Pending the signature of President Obama, expected to be done shortly, the US officially avoids that millions of citizens suffer tax hikes and spending reductions, which would have brought the U.S. economy into recession according to economists' projections. Worth not forgetting though, is that still plentiful of unresolved pressing issues remain, with the most immediate being the need to raise the federal borrowing limit, with the deadline over 2 month from now.-FXstreet.com
https://support.fxcc.com/email/technical/04012013/
Forex Economic Calendar
2013-01-04 09:30 GMT | United Kingdom. Markit Services PMI (Dec)
2013-01-04 10:00 GMT | E.M.U. Consumer Price Index (YoY) (Dec)
2013-01-04 13:30 GMT | United States. Nonfarm Payrolls (Dec)
2013-01-04 15:00 GMT | United States. ISM Non-Manufacturing PMI (Dec)
Forex News
2013-01-04 04:57 GMT | USD/JPY maximum pain to shorts above 87.50
2013-01-04 04:25 GMT | Constructive on EUR/USD towards 1.35 - Westpac
2013-01-04 03:53 GMT | NZD/USD finds support at 0.8220
2013-01-04 02:40 GMT | GBP/JPY stalls an 8 week run up below 141.00
TECHNICAL ANALYSIS
---------------------------------
EURUSD
HIGH 1.30532 LOW 1.30191 BID 1.30426 ASK 1.30432 CHANGE -0.05% TIME 07 : 59:49
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: While EURUSD trades above the next support level, possibility of correction arises if market manages to break our resistance at 1.3082 (R1). In this case we would suggest next targets at 1.3111 (R2) and 1.3140 (R3) in potential. Downwards scenario: Medium term bias is clearly negative. If the market gains momentum and break below the next support at 1.3018 (S1), we suggest next targets to be placed at 1.2989 (S2) and 1.2961 (S3).
Resistance Levels: 1.3082, 1.3111, 1.3140
Support Levels: 1.3018, 1.2989, 1.2961
------------------------
GBPUSD :
HIGH 1.61076 LOW 1.60569 BID 1.60780 ASK 1.60792 CHANGE -0.19% TIME 07 : 59:50
OUTLOOK SUMMARY Down
TREND CONDITION Down trend
TRADERS SENTIMENT Bullish
IMPLIED VOLATILITY High
Upwards scenario: The upside movement looks protected by the next resistance level at 1.6113 (R1), located at the 20 SMA. Rise above it might change market sentiment to bullish on the short term perspective and expose intraday targets at 1.6142 (R2) and 1.6170 (R3).Downwards scenario: Our next support level, located at 1.6056 (S1) is the key point for the further downtrend development. Break here is required to put in focus lower targets at 1.6026 (S2) and 1.5995 (S3) in perspective.
Resistance Levels: 1.6113, 1.6142, 1.6170
Support Levels: 1.6056, 1.6026, 1.5995
------------------
USDJPY :
HIGH 87.831 LOW 87.239 BID 87.753 ASK 87.757 CHANGE 0.6% TIME 07 : 59:51
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: USDJPY gained momentum, turning intraday bias to the positive side. Our next resistance level for today is hold at 87.85 (R1). Rise above it might open route towards to next targets at 88.16 (R2) and 88.47 (R3). Downwards scenario: On the downside our reference point locates at 87.52 (S1), decrease below it might enable bearish pressure, targeting 87.23 (S2) and any further fall would then be limited by last support level at 86.94 (S3).
Resistance Levels: 87.85, 88.16, 88.47
Support Levels: 87.52, 87.23, 86.94
Source: FX Central Clearing Ltd,( Free Forex Demo Account | Forex Software | Forex Trading Blog | FXCC )
- 07.01.2013, 10:40 #203alayoua
Forex Technical & Market Analysis FXCC Jan 07 2013
Forex Technical & Market Analysis FXCC Jan 07 2013
ECB, BOE in Prime Focus this Week
With the Fiscal Cliff behind us and the impending debt ceiling debate at least another month away, market focus will return to plain economic fundamentals next week. The sentiment is being bolstered by two central bank announcements – the ECB (January 10th, 7:45AM EST) and BOE (January 10th, 7:00AM EST). Although nothing really new is expected, both events are still likely to take the lion’s share of attention.
Nothing is expected to happen when the Bank of England meets for the first time in 2013. Although concerns have emerged over a divide in the central bank, it is unlikely that the monetary body will move to do anything other than wait-and-see. The key remains in the results from the Funding for Lending program, which is entering its sixth month of operation. In the same respect, the ECB is unlikely to move when it decides on interest rates on Thursday. Instead, monetary policy leaders will continue to highlight the option of the OMT scheme in quelling any more crisis concerns, and likely point to stabilization in the region’s member economies in justifying no rate change.
Forex Technical & Market Analysis: January 07 2013
Forex Economic Calendar
2013-01-07 09:30 GMT | E.M.U. Sentix Investor Confidence (Jan)
2013-01-07 10:00 GMT | E.M.U. Producer Price Index (YoY) (Nov)
2013-01-07 15:00 GMT | Canada. Ivey Purchasing Managers Index s.a (Dec)
2013-01-07 22:30 GMT | Australia. AiG Performance of Construction Index (Dec)
Forex News
2013-01-07 05:37 GMT | US Dollar buyers not giving up
2013-01-07 05:16 GMT | NZD/USD pressured below 0.8300
2013-01-07 04:19 GMT | EUR/USD, recovery above 1.3150 exposes 1.33 – BBH
2013-01-07 03:25 GMT | AUD/JPY multi-year highs capped below 93
TECHNICAL ANALYSIS
-----------------------
EURUSD
HIGH: 1.30789 | LOW: 1.30283 | BID: 1.30356 | ASK: 1.30365 | CHANGE: -0.24% | TIME: 07 : 50:31
OUTLOOK SUMMARY: Down
TREND CONDITION: Downward penetration
TRADERS SENTIMENT: Bullish
IMPLIED VOLATILITY: Low
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Bearish pressure stays intact though retracement formation might take another step and refresh local highs above the resistance at 1.3065 (R1) would suggest next targets at 1.3082 (R2) and 1.3100 (R3) in potential. Downwards scenario: Next support comes in at the 1.3026 (S1) level. Loss here might keep the rally intact and drive market price towards to the next targets at 1.3009 (S2) and 1.2994 (S3).
Resistance Levels: 1.3065, 1.3082, 1.3100
Support Levels: 1.3026, 1.3009, 1.2994
----------------------
GBPUSD
HIGH: 1.60817 | LOW: 1.60211 | BID: 1.60263 | ASK: 1.60275 | CHANGE: -0.27% | TIME: 07 : 50:32
OUTLOOK SUMMARY: Down
TREND CONDITION: Downward penetration
TRADERS SENTIMENT: Bullish
IMPLIED VOLATILITY: Medium
Upwards scenario: Cable has bounced back, however If it manages to break above the next resistance level at 1.6082 (R1), we expect to see new step of uptrend development with possible targets at 1.6119 (R2) and 1.6160 (R3). Downwards scenario: Market sentiment has improved for the bearish oriented traders. Friday low is acting now as key support level at 1.6003 (S1), clearance here is required to attack lower targets at 1.5964 (S2) and 1.5924 (S3).
Resistance Levels: 1.6082, 1.6119, 1.6160
Support Levels: 1.6003, 1.5964, 1.5924
------------------
USDJPY
HIGH: 88.373 | LOW: 87.789 | BID: 87.838 | ASK: 87.844 | CHANGE: -0.34% | TIME: 07 : 50:33
OUTLOOK SUMMARY: Down
TREND CONDITION: Downward penetration
TRADERS SENTIMENT: Bullish
IMPLIED VOLATILITY: Medium
Upwards scenario: USDJPY accomplished new step of uptrend formation and fall to the correction formation. Risk of further market increase is seen above the resistance at 87.95 (R1). Violation here might increase bullish pressure and expose next targets at 88.15 (R2) and 88.34 (R3). Downwards scenario: Bearish pressure remains in power today as both moving averages are pointing down. Next support level is seen at 87.59 (S1). Decline below it might resume weakness towards to our targets 87.40 (S2) and 87.22 (S3).
Resistance Levels: 87.95, 88.15, 88.34
Support Levels: 87.59, 87.40, 87.22د
Source: FX Central Clearing Ltd,( Currency Converter | Top ECN Forex Broker | Forex Demo Account | FXCC )
- 08.01.2013, 10:25 #204alayoua
Forex Technical & Market Analysis FXCC Jan 08 2013
Forex Technical & Market Analysis FXCC Jan 08 2013
Japan to buy ESM bonds to stabilize the yen
The big story in the Asian session is the announcement by Japan of its commitment to purchase ESM bonds to help stabilize Europe, Japan Finance Minister Taro Aso told reporters. The decision-maker added that Japan will buy European ESM bonds using FX reserves, although amount of bond buys is undecided at this point, he said. In another Reuters headline, Mr. Aso said the buys will start as soon as today. Meanwhile, the Economic Revival Minister Amari said that upcoming BoJ stimulus will be “significant”.
Meanwhile,after months of uncertainty and struggle to reach a compromise in Congress, lawmakers finally voted on a deal to avoid falling completely off of the fiscal cliff. The agreement, voted on early New Year’s Day by the Senate, was finally passed by the House late at night, just days before the new Congress is sworn in. Tax reform dominated much of the heated debate in recent weeks, but the Democrats and Republicans finally reached an agreement in order to avoid a significant impact on economic activity, at least in the short-term.
Forex Technical & Market Analysis: January 08 2013
Forex Economic Calendar
2013-01-08 07:00 GMT | Germany. Trade Balance s.a. (Nov)
2013-01-08 10:00 GMT | E.M.U. Retail Sales (YoY) (Nov)
2013-01-08 11:00 GMT | Germany. Factory Orders n.s.a. (YoY) (Nov)
2013-01-08 20:00 GMT | United States. Consumer Credit Change (Nov)
Forex News
2013-01-08 05:59 GMT | GBP/USD moving sideways above 1.6100
2013-01-08 05:18 GMT | EUR/USD likely to remain on the defensive ahead of ECB
2013-01-08 04:41 GMT | AUD/USD at session lows below 1.0480
2013-01-08 04:21 GMT | EUR/AUD printing fresh weekly highs above 1.2500
TECHNICAL ANALYSIS
------------------------
EURUSD
HIGH: 1.31397 | LOW: 1.31035 | BID: 1.31231 | ASK: 1.31234 | CHANGE: 0.05% | TIME: 08 : 20:35
OUTLOOK SUMMARY: Up
TREND CONDITION: Upward penetration
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Medium
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Currently our next resistance level lie at fresh high formed today – 1.3139 (R1). Rise above it might provide sufficient space for the appreciation towards to next target at 1.3156 (R2). Final resistance for today could be found at 1.3171 (R3). Downwards scenario: Medium-term bias remains negative. Successful retest of our support at 1.3102 (S1) would suggest next targets at 1.3085 (S2) and 1.3069 (S3) in potential.
Resistance Levels: 1.3139, 1.3156, 1.3171
Support Levels: 1.3102, 1.3085, 1.3069
--------------------------
GBPUSD
HIGH: 1.61286 | LOW: 1.61014 | BID: 1.61026 | ASK: 1.61036 | CHANGE: -0.07% | TIME: 08 : 20:36
OUTLOOK SUMMARY: Up
TREND CONDITION: Upward penetration
TRADERS SENTIMENT: Bullish
IMPLIED VOLATILITY: Medium
Upwards scenario: Both moving averages support current retracement formation from its initial downtrend. Positive market sentiment might be found above the key resistance level at 1.6130 (R1). Above here is possible appreciation towards to our resistance levels at 1.6148 (R2) and 1.6166 (R3). Downwards scenario: Next support level is seen at 1.6093 (S1), drop below it would suggest next target at 1.6076 (S2) and any further fall would then be targeting 1.6058 (S3).
Resistance Levels: 1.6130, 1.6148, 1.6166
Support Levels: 1.6093, 1.6076, 1.6058
----------------------------
USDJPY
HIGH: 87.807 | LOW: 87.234 | BID: 87.416 | ASK: 87.421 | CHANGE: -0.42% | TIME: 08 : 20:37
OUTLOOK SUMMARY: Down
TREND CONDITION: Downward penetration
TRADERS SENTIMENT: Bullish
IMPLIED VOLATILITY: Medium
Upwards scenario: Next resistance level locates above the local peak at 87.81 (R1). Break here is required to enable next target at 87.95 (R2) and any further rise would then be limited to 88.09 (R3). Downwards scenario: Our initial support level lie at 87.40 (S1). Loss here would enable bearish forces and might expose lower targets at 87.26 (S2) and 87.12 (S3) during the day.
Resistance Levels: 87.81, 87.95, 88.09
Support Levels: 87.40, 87.26, 87.12
Source: FX Central Clearing Ltd, (FX Central Clearing Ltd)
- 09.01.2013, 08:27 #205alayoua
Forex Technical & Market Analysis FXCC Jan 09 2013
Forex Technical & Market Analysis FXCC Jan 09 2013
Eurozone crisis still far from over
Eurozone unemployment reached a record high of 11.8% in November, the European Commission reported on Tuesday. Data also showed an increase in youth unemployment to 24.4%. This proves that the crisis in the area is still far from over, despite recent opinions to the contrary (including European Commission head Jose Manuel Barroso’s hopeful declarations this morning). Martin van Vliet from ING, who notices this latest wave of optimism among Eurozone consumers and businesses suggests that “with more fiscal austerity in the pipeline, the debt crisis still unresolved, and unemployment rising (and hitting a fresh record high of 11.8% in November), consumers and hence businesses still have plenty to worry about. Moreover, despite the recent improvement, Eurozone economic sentiment remains in recession territory.”
German Chancellor Angela Merkel held a meeting with Greek PM Antonis Samaras in Berlin on Tuesday, during which the Greek leader assured that his country was delivering on promises to implement austerity measures and was carrying out reforms in return for European aid. “We are trying to win back credibility, on the part of the people of Europe and on the part of the markets,” Samaras told reporters during a press conference. Angela Merkel praised Greece’s efforts to reduce its debt load so far and expressed her interest in the progress of implementation of the previously agreed austerity measures. She also warned that 2013 will be a tough year for the Eurozone. “We must agree on stronger economic policy cooperation by June this year, and there is plenty of work ahead of us,” she said.
Forex Technical & Market Analysis: January 09 2013
Forex Economic Calendar
2013-01-09 09:30 GMT | United Kingdom. Goods Trade Balance (Nov)
2013-01-09 10:00 GMT | E.M.U. Gross Domestic Product s.a. (QoQ) (Q4)
2013-01-09 11:00 GMT | Germany. Industrial Production s.a. w.d.a. (YoY) (Nov)
2013-01-09 13:15 GMT | Canada. Housing Starts s.a (YoY) (Dec)
Forex News
2013-01-09 05:17 GMT | EUR/USD lacks stimulus; earnings, Fed speeches, ECB eyed
2013-01-09 05:05 GMT | GBP/USD looking again toward 1.6000
2013-01-09 04:13 GMT | EUR/JPY below MoF Aso ESM level of 114.55-60
2013-01-09 02:36 GMT | USD/JPY moves above descending trend line; hits 87.50
TECHNICAL ANALYSIS
--------------------------
EURUSD
HIGH: 1.30933 | LOW: 1.30671 | BID: 1.30843 | ASK: 1.30849 | CHANGE: 0.03% | TIME: 08 : 18:43
OUTLOOK SUMMARY: Up
TREND CONDITION: Upward penetration
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Medium
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Appreciation above the 1.3103 (R1) might boost the upside pressure. Next visible resistance levels are expected at 1.3118 (R2) and 1.3134 (R3) in potential. Downwards scenario: Fresh low, formed today is pointing to key short-term support level at 1.3067 (S1). Decline below it would suggest next intraday target at 1.3052 (S2) and any further easing would then be targeting 1.3036 (S3).
Resistance Levels: 1.3103, 1.3118, 1.3134
Support Levels: 1.3067, 1.3052, 1.3036
------------------------
GBPUSD
HIGH: 1.60684 | LOW: 1.60368 | BID: 1.60533 | ASK: 1.60543 | CHANGE: 0.01% | TIME: 08 : 18:44
OUTLOOK SUMMARY: Down
TREND CONDITION: Sideway
TRADERS SENTIMENT: Bullish
IMPLIED VOLATILITY: Medium
Upwards scenario: Our retail trading market sentiment indicator shows, that market participants are bullish. Penetration above the 1.6069 (R1) might lead to the protective orders execution and drive market price towards to next targets at 1.6088 (R2) and 1.6105 (R3). Downwards scenario: Next support level stays at 1.6036 (S1). Break here would suggest next target at 1.6020 (S2) and any further fall would then be limited by last support at 1.6003 (S3).
Resistance Levels: 1.6069, 1.6088, 1.6105
Support Levels: 1.6036, 1.6020, 1.6003
--------------------
USDJPY
HIGH: 87.543 | LOW: 86.829 | BID: 87.387 | ASK: 87.393 | CHANGE: 0.41% | TIME: 08 : 18:45
OUTLOOK SUMMARY: Up
TREND CONDITION: Upward penetration
TRADERS SENTIMENT: Bullish
IMPLIED VOLATILITY: Medium
Upwards scenario: The short-term tendency for the price is oriented to the upside. Our next resistance level is placed above the local peak at 87.56 (R1). Strengthening above it would point to resistive structure at 87.71 (R2) onto 87.86 (R3). Downwards scenario: If the pair gains momentum today on the downside and overcome our next support level at 87.22 (S1) then intraday outlook would turn into negative territory. Possible targets could be exposed at 87.07 (S2) and 86.92 (S3).
Resistance Levels: 87.56, 87.71, 87.86
Support Levels: 87.22, 87.07, 86.92
Source: FX Central Clearing Ltd,( Forex Trading Education | ECN Trading Forex Account | FXCC )
- 10.01.2013, 10:31 #206alayoua
Forex Technical & Market Analysis FXCC Jan 10 2013
Forex Technical & Market Analysis FXCC Jan 10 2013
Limited chance of ECB rate cut in January; BoE unlikely to act
Not much excitement is expected from the first ECB and BoE monetary policy meetings of 2013, as the majority of economists believe both central banks will remain on hold this month. Nevertheless, there are some doubts concerning ECB's action, as Mario Draghi hinted in December at a possibility of another rate reduction.
The general expectation for ECB's January monetary policy meeting is that of no change. Despite the fact that the central bank signalized its readiness to perform further rate cuts, "they know as well as everyone else in the market that we can’t carry on with such low interest rates for ever," as Steve Ruffley suggests. Other contributors point out that the OMT program has brought relief to the markets, that peripheral countries' bond yields have dropped and that "fundamentals are showing signs of stabilization in major countries like France and Germany," in the words of Richard C. Lee, and that all of these factors significantly reduce the need for a cut.
https://support.fxcc.com/email/technical/10012013/
Forex Economic Calendar
2013-01-10 12:00 GMT | United Kingdom. BoE Interest Rate Decision
2013-01-10 12:45 GMT | E.M.U. ECB Interest Rate Decision
2013-01-10 13:30 GMT | Canada. New Housing Price Index (YoY) (Nov)
2013-01-10 23:50 GMT | Japan. Trade Balance - BOP Basis (Nov)
Forex News
2013-01-10 05:34 GMT | EUR/GBP flat around 0.8150 ahead of BoE/ECB
2013-01-10 05:34 GMT | Can the ECB bring clarity to the EUR/USD?
2013-01-10 05:18 GMT | NZD/JPY highest since Sept 2008 above 74.00
2013-01-10 04:52 GMT | USD/JPY rally reaching a peak - ANZ
TECHNICAL ANALYSIS
--------------------
EURUSD :
HIGH 1.30661 LOW 1.30388 BID 1.30458 ASK 1.30464 CHANGE -0.14% TIME 07 : 55:11
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Immediate resistance is seen at 1.3058 (R1). If the price manages to overcome it we suggest next target at 1.3073 (R2) with possibility to reach final resistance at 1.3087 (R3). Today in focus- ECB Rate decision at 12:45 GMT. Downwards scenario: While both moving averages are pointing down, medium-term negative market sentiment would be valid. Key support lie at 1.3036 (S1), below here opens route towards to our initial targets at 1.3021 (S2) and 1.3005 (S3).
Resistance Levels: 1.3058, 1.3073, 1.3087
Support Levels: 1.3036, 1.3021, 1.3005
---------------------
GBPUSD :
HIGH 1.60269 LOW 1.6004 BID 1.60102 ASK 1.60112 CHANGE -0.07% TIME 07 : 55:12
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: BOE Interest Rate decision at 12:00 GMT might increase volatility today. Next immediate resistance is seen at 1.6036 (R1). Above that level opens a route towards to higher target at 1.6059 (R2) and any further price advance would then be targeting 1.6083 (R3). Downwards scenario: Market seems to have found a base at fresh low formed yesterday. Below here locates our next support level at 1.5992 (S1) and opens way towards to immediate supports at 1.5969 (S2) and 1.5945 (S3).
Resistance Levels: 1.6036, 1.6059, 1.6083
Support Levels: 1.5992, 1.5969, 1.5945
-----------------------
USDJPY :
HIGH 88.213 LOW 87.862 BID 88.178 ASK 88.183 CHANGE 0.35% TIME 07 : 55:13
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: USDJPY having during the Asian session and found an element of resistive measures at 88.22 (R1). Clearance of this level would suggest uptrend development with possible targets at 88.36 (R2) and 88.51 (R3) Downwards scenario: A corrective phase might occur below the immediate support level at 88.00 (S1). Clearance here is required to develop a short-term bearish momentum and expose our next target at 87.85 (S2). Any further correction would then be targeting 87.70 (S3).
Resistance Levels: 88.22, 88.36, 88.51
Support Levels: 88.00, 87.85, 87.70
Source: FX Central Clearing Ltd,( Currency Converter | Forex ECN Broker | Forex Demo Account |FXCC )
- 11.01.2013, 08:16 #207alayoua
Forex Technical & Market Analysis FXCC Jan 11 2013
Forex Technical & Market Analysis FXCC Jan 11 2013
Cautious economic optimism induces ECB to hold rates
The ECB Governing Council unanimously decided to maintain the main interest rate at 0.75% at their first monetary policy meeting of 2013. ECB head Mario Draghi revealed a more positive outlook on the European crisis during the press conference following the interest rate announcement. The president suggested that inflation should decline below 2% during 2013. He said that economic weakness in the Eurozone will extend into the new year but that it should give way to a recovery later in the year, as confidence in financial markets is improving gradually and bond yields are seen falling considerably. Credit conditions, already satisfactory, should continue improving as well, as the two long term refinancing operations helped stave off disorderly delevering.
Mario Draghi stressed the importance of a rapid implementation of structural reforms by Eurozone governments in order to increase competitiveness in the area. This should boost growth potential and lead to a rise in employment. The ECB head also pointed out the necessity of establishing an integrated financial framework in the Eurozone of which the “single supervisory mechanism (SSM) is one of the main building blocks.” Jamie Coleman from Forex Live comments on ECB's lack of action this month: “Draghi did the euro a lot of good in the near-term by taking a rate cut off the table. But in the bigger picture he's done the ECB a disservice by leading the market to expect a rate cut at the December meeting only to change tack nearly 180 degrees at the following meeting. Central bankers are not supposed to react to each and every blip in sentiment and it appears that Draghi is doing just that.”
https://support.fxcc.com/email/technical/11012013/
Forex Economic Calendar
2013-01-11 **:** GMT | United Kingdom. 10-y Bond Auction
2013-01-11 09:30 GMT | United KIngdom. Industrial Production (YoY) (Nov)
2013-01-11 13:30 GMT | United States. Trade Balance (Nov)
2013-01-11 15:00 GMT | United Kingdom. NIESR GDP Estimate (3M) (Dec)
Forex News
2013-01-11 05:42 GMT | EUR/GBP stalls the run higher ahead of key 0.8230 level
2013-01-11 05:31 GMT | NZD/JPY bears defend 75.40
2013-01-11 03:59 GMT | EUR/USD wallowing below 1.3300 ahead of the weekend
2013-01-11 02:40 GMT | NZD/USD at session lows below 0.8450
EURUSD :
HIGH 1.32792 LOW 1.32504 BID 1.32582 ASK 1.32588 CHANGE -0.06% TIME 08 : 17:23
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: EURUSD gained momentum and formed clear uptrend formation. Currently price is stabilized near its high and resistance at 1.3277 (R1) is the next attractive point. If a break occurs here we expect gradual increase towards to our targets at 1.3288 (R2) and 1.3300 (R3). Downwards scenario: Negative market sentiment would be provided if price decline below the low of the day at 1.3247 (S1). An hourly chart price setup is suggest next retracement formation targets at 1.3236 (S2) and 1.3224 (S3).
Resistance Levels: 1.3277, 1.3288, 1.3300
Support Levels: 1.3247, 1.3236, 1.3224
-----------------------
GBPUSD :
HIGH 1.61773 LOW 1.61441 BID 1.61486 ASK 1.61497 CHANGE -0.11% TIME 08 : 17:24
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: If GBPUSD gains momentum and rose above the resistance at 1.6177 (R1), we expect further uptrend formation with next targets at 1.6191 (R2) and 1.6204 (R3) later on today. Downwards scenario: A short-term negative tendency might face immediate support at 1.6141 (S1). Below here open route towards to expected targets at 1.6127 (S2) and 1.6112 (S3).
Resistance Levels: 1.6177, 1.6191, 1.6204
Support Levels: 1.6141, 1.6127, 1.6112
--------------------
USDJPY :
HIGH 89.346 LOW 88.689 BID 89.047 ASK 89.053 CHANGE 0.32% TIME 08 : 17:24
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Medium term bias remains positive after slight correction, provided today. Our next resistance is placed at 89.35 (R1). Rise above it might push price towards to next targets at 89.53 (R2) and 89.70 (R3) intraday. Downwards scenario: Current price deviation might face next support level at 88.77 (S1). We expect price downgrade towards to our targets at 88.59 (S2) and 88.41 (S3) as a part of consolidation formation in case of successful penetration below it.
Resistance Levels: 89.35, 89.53, 89.70
Support Levels: 88.77, 88.59, 88.41
Source: FX Central Clearing Ltd, (FX Central Clearing Ltd)
- 14.01.2013, 10:45 #208alayoua
Forex Technical & Market Analysis FXCC Jan 14 2013
Forex Technical & Market Analysis FXCC Jan 14 2013
Focus on Bernanke speech; revenge of the doves?
With the European debt crisis temporarily buried underground, and the US debt ceiling still too many weeks far down the road to become a pressing issue, most of the weekend headlines were stolen by Japan and its quest to set a highly ambitious 2% inflation. However, on the horizon the sound of helicopter helices loom, as Federal Reserve President Ben Bernanke prepares to give a speech at the University of Michigan at 21GMT, NY close time, following the latest controversial FOMC minutes.
NAB notes: “This is his first public address since the December FOMC minutes that sparked so much chatter and market volatility surrounding the possibility that the Fed could mark time on the current phase of its QE programme by year end.” NAB expects Bernanke’s comments “to be directed at disabusing his audience that stropping balance sheet expansion as a prelude to commencing to take back policy stimulus are events that could be separated by years not months” the bank says. “If so, expect the USD to be subject to some fresh downward pressure…” NAB concludes.
Forex Technical & Market Analysis: January 14 2013
Forex Economic Calendar
2013-01-14 07:00 GMT | Germany. Wholesale Price Index (MoM) (Dec)
2013-01-14 10:00 GMT | E.M.U. Industrial Production w.d.a. (YoY) (Nov)
2013-01-14 15:30 GMT | Canada. Bank of Canada Business Outlook Survey
2013-01-14 21:00 GMT | United States. Fed’s Bernanke Speech
Forex News
2013-01-14 04:49 GMT | USD/JPY, watch the 20EMA for clues
2013-01-14 04:43 GMT | GBP/JPY climbing toward 145.00
2013-01-14 04:31 GMT | AUD/USD reverses course, back to fresh session highs
2013-01-14 03:27 GMT | EUR/USD prints fresh 10-month high at 1.3404
TECHNICAL ANALYSIS
EURUSD
HIGH: 1.34036 | LOW: 1.33497 | BID: 1.33882 | ASK: 1.33890 | CHANGE: 0.35% | TIME: 08 : 02:49
OUTLOOK SUMMARY: Up
TREND CONDITION: Up trend
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Low
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: EURJPY gained momentum on the upside and formed local high at 1.3404 (R1). In a thin market and economic calendar like today we are not expecting significant volatility increase, though a break here would suggest next targets at 1.3434 (R2) and 1.3463 (R3). Downwards scenario: Possibility of consolidation formation is high today. Decline below the support level at 1.3364 (S1) might initiate protective orders execution and drive market price towards to next support levels at 1.3336 (S2) and 1.3307 (S3).
Resistance Levels: 1.3404, 1.3434, 1.3463
Support Levels: 1.3364, 1.3336, 1.3307
----------------------
GBPUSD
HIGH: 1.61544 | LOW: 1.61168 | BID: 1.61397 | ASK: 1.61409 | CHANGE: 0.08% | TIME: 08 : 02:50
OUTLOOK SUMMARY: Up
TREND CONDITION: Sideway
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Medium
Upwards scenario: The GBPUSD is now losing upside momentum after the former strength. Next resistance ahead is seen at 1.6158 (R1). Rising up above this level would suggest next targets at 1.6180 (R2) and 1.6200 (R3) in potential Downwards scenario: If instrument gains momentum on the downside, we expect to see penetration below the next support at 1.6127 (S1). In such scenario we suggest next targets at 1.6106 (S2) and 1.6083 (S3).
Resistance Levels: 1.6158, 1.6180, 1.6200
Support Levels: 1.6127, 1.6106, 1.6083
---------------------
USDJPY
HIGH: 89.667 | LOW: 89.249 | BID: 89.613 | ASK: 89.618 | CHANGE: 0.49% | TIME: 08 : 02:51
OUTLOOK SUMMARY: Up
TREND CONDITION: Up trend
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Low
Upwards scenario: Measures of resistance might be activating when the pair approaches the 89.70 (R1), break here would suggest next target at 89.93 (R2). If the price holds its momentum on the upside we can expect final target at 90.17 (R3). Downwards scenario: Our 20 Simple Moving Average at 89.34 (S1) acts as next support level. Below here opens the way for a return to 89.09 (S2) price level. Potential is seen to reach final target for today at 88.85 (S3).
Resistance Levels: 89.70, 89.93, 90.17
Support Levels: 89.34, 89.09, 88.85
Source: FX Central Clearing Ltd,( Forex Trading Education | ECN Trading Forex Account | FXCC )
- 15.01.2013, 07:53 #209alayoua
Forex Technical & Market Analysis FXCC Jan 15 2013
Forex Technical & Market Analysis FXCC Jan 15 2013
Bernanke provides no signs of QE expiration; raising debt ceiling crucial
Ben Bernanke is giving a speech at the University of Michigan, with the talk centered on two big issues. One is the long run sustainability of the US debt, while the other is the fragile recovery. Fed's Bernanke said Federal budget must be brought under control, warning that plans to adjust the budget should be carefully well thought in order to avoid pushing the economy into recession He said that the economy "is not out of the woods", and stressed the improved optimism after the fiscal cliff deal, which in Bernanke's words, "eliminated a good bit of the restrictive components."
Fed's Bernanke noted 'some modest improvement' in jobs market, although he wants to see rosier numbers in the economy and the labour market. With regards to the number of tools available to stimulate the economy, Bernanke said "the Fed is not out of ammunition", adding that judging by the reaction of markets since the establishments of the first QE program, "overall QE has succeeded in reducing long-term rates; we have found (QE) to be an effective tool." Bernanke said is early to determine the effect of asset purchases, suggesting the extension of QE in the near term seems a done deal, while waiting further proves, especially in the labour market, to determine length of QE extension. While growth has been moderate, the housing sector, has shown positives signs, Bernanke said. "For the first time since 06/07 we have seen sustained increase in home prices, which should help us throughout the year..." https://support.fxcc.com/email/technical/15012013/
Forex Economic Calendar
2013-01-15 07:00 GMT | Germany. Harmonised Index of Consumer Prices (YoY) (Dec)
2013-01-15 08:00 GMT | Germany. Gross Domestic Product n.s.a (YoY)
2013-01-15 09:30 GMT | United Kingdom. Core Consumer Price Index (YoY) (Dec)
2013-01-15 13:30 GMT | United States. Retail Sales (MoM) (Dec)
Forex News
2013-01-15 05:18 GMT | GBP/USD consolidates below 1.61 ahead of UK data
2013-01-15 04:39 GMT | EUR/AUD capped below 1.2700
2013-01-15 04:05 GMT | EUR/JPY strong rejection from 120s breaks below 119
2013-01-15 03:14 GMT | USD/JPY longs run to the exits; 88.62 new weekly low
TECHNICAL ANALYSIS
--------------------
EURUSD :
HIGH 1.33935 LOW 1.33482 BID 1.33557 ASK 1.33566 CHANGE -0.2% TIME 07 : 56:31
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Market sentiment looks balanced and false beak outs are possible. Appreciation above the next resistance level at 1.3404 (R1) might establish new leg of uptrend formation and enable higher targets at 1.3434 (R2) and 1.346 (R3). Downwards scenario: Current market structure remains consolidative and easing below the support level at 1.3336 (S1) is likely scenario for today. Our targets located at 1.3307 (S2) and 1.3280 (S3) in perspective.
Resistance Levels: 1.3404, 1.3434, 1.3463
Support Levels: 1.3336, 1.3307, 1.3280
---------------------
GBPUSD :
HIGH 1.60938 LOW 1.60674 BID 1.60713 ASK 1.60723 CHANGE -0.02% TIME 07 : 56:32
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: Instrument trapped to the range mode condition on the medium-term perspective. Risks of market strengthening are seen above the next resistance level at 1.6097 (R1). Our suggested targets locates at 1.6117 (R2) and 1.6138 (R3). Downwards scenario: Signal of instrument depreciation would be created if it manages to surpass support level at 1.6064 (S1). Next support levels are seen at 1.6045 (S2) and 1.6026 (S3).
Resistance Levels: 1.6097, 1.6117, 1.6138
Support Levels: 1.6064, 1.6045, 1.6026
--------------------
USDJPY :
HIGH 89.629 LOW 88.618 BID 88.969 ASK 88.975 CHANGE -0.56% TIME 07 : 56:33
OUTLOOK SUMMARY : Up
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: We are not expecting significant price deviation today, though risk of positive tone establishment is seen above the next resistance level at 89.30 (R1). Any penetration above this level would put in focus higher targets at 89.54 (R2) and 89.79 (R3). Downwards scenario: We suspect that the market might extend short term losses below the fresh low formed today. Easing below our support at 88.60 (S1) would suggest next targets at 88.36 (S3) and 88.10 (S3).
Resistance Levels: 89.30, 89.54, 89.79
Support Levels: 88.60, 88.36, 88.10
Source: FX Central Clearing Ltd,( Currency Converter | Forex ECN Broker | Forex Demo Account |FXCC )
- 16.01.2013, 10:42 #210alayoua
Forex Technical & Market Analysis FXCC Jan 16 2013
Forex Technical & Market Analysis FXCC Jan 16 2013
Fitch warns it might cut US rating
Much to the chagrin of investors, a fresh warning from the ratings agency Fitch was issues, stating that a debt ceiling failure would likely cause a ratings review. “…With no legal authorization for net debt issuance, the Treasury would be forced to immediately eliminate the deficit – a fiscal contraction twice as great as the recently avoided ‘fiscal cliff’ – arrears on such obligations would not constitute a default event from a sovereign rating perspective, but very likely prompt a downgrade even as debt obligations continued to be met.” As such, Fitch Ratings’ expectation – along with that of the American public and general contingent of market participants – is that Congress will raise the debt ceiling, thereby leaving the risk of a U.S. sovereign default as extremely low. “Nonetheless, a, failure to raise the debt ceiling in a timely manner will prompt a formal review of the U.S. sovereign ratings.” notes Joe Wiesenthal.
Forex Technical & Market Analysis: January 16 2013
Forex Economic Calendar
2013-01-16 10:00 GMT | E.M.U. Consumer Price Index (YoY) (Dec)
2013-01-16 13:30 GMT | United States. Consumer Price Index (YoY) (Dec)
2013-01-16 15:30 GMT | United States. EIA Crude Oil Stocks change (Jan 11)
2013-01-16 19:00 GMT | United States. Fed’s Beige Book
Forex News
2013-01-16 05:28 GMT | GBP/USD little changed above 1.6050
2013-01-16 05:10 GMT | EUR/GBP back to flat for the week; above 0.8250
2013-01-16 04:14 GMT | AUD/JPY dips below 93.00, finds 200-hr EMA
2013-01-16 03:40 GMT | GBP/JPY dealing with weekly lows around 141.70
TECHNICAL ANALYSIS
-----------------------------
EURUSD
HIGH: 1.33173 | LOW: 1.32788 | BID: 1.32870 | ASK: 1.32876 | CHANGE: -0.13% | TIME: 08 : 00:18
OUTLOOK SUMMARY: Down
TREND CONDITION: Downward penetration
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: High
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Potential is seen for break above the 1.3318 (R1) today. In such scenario we suggest next target at 1.3345 (R2) and any further appreciation would then be targeting last resistance level at 1.3371 (R3). Downwards scenario: If it fail to go higher, we might see further retracement development below the key support at 1.3262 (S1) with next target in focus at 1.3240 (S2). Final target locates at 1.3217 (S3).
Resistance Levels: 1.3318, 1.3345, 1.3371
Support Levels: 1.3262, 1.3240, 1.3217
----------------------------------
GBPUSD
HIGH: 1.60803 | LOW: 1.60513 | BID: 1.60544 | ASK: 1.60555 | CHANGE: -0.06% | TIME: 08 : 00:19
OUTLOOK SUMMARY: Down
TREND CONDITION: Sideway
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Medium
Upwards scenario: Market having failed to establish directional movement yesterday and we expect some volatility increase ahead. Possible strengthening might arise above the next resistance level at 1.6067 (R1). Next targets holds at 1.6079 (R2) and 1.6090 (R3) levels. Downwards scenario: Our focus now shifted to the next support level at 1.6031 (S1). Extension of losses below it might push price towards to our targets at 1.6019 (S2) and 1.6007 (S3) by forming downtrend formation.
Resistance Levels: 1.6067, 1.6079, 1.6090
Support Levels: 1.6031, 1.6019, 1.6007
---------------------------------
USDJPY
HIGH: 88.87 | LOW: 87.946 | BID: 88.156 | ASK: 88.162 | CHANGE: -0.69% | TIME: 08 : 00:20
OUTLOOK SUMMARY: Down
TREND CONDITION: Downward penetration
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Medium
Upwards scenario: We do expect some pull-backs on the upside and place our next resistance level at 88.28 (R1). Break here would enable next targets at 88.47 (R2) and 88.64 (R3). Downwards scenario: Significant retracement during the Asian session established negative market sentiment for today. Possible depreciation below the next support level at 87.95 (S1) would suggest next targets at 87.76 (S2) and 87.58 (S3).
Resistance Levels: 88.28, 88.47, 88.64
Support Levels: 87.95, 87.76, 87.58
Source: FX Central Clearing Ltd,( FX Central Clearing Ltd )
- 17.01.2013, 11:18 #211alayoua
Forex Technical & Market Analysis FXCC Jan 17 2013
Forex Technical & Market Analysis FXCC Jan 17 2013
Nowotny’s comments boost the euro
The member of the ECB governing council Ewald Nowotny declared at the Euromoney press conference in Austria on Wednesday that the Eurozone is bound to contract in 2013 and that growth would return in 2014. Nowotny warned that economic activity would decrease this year, adding however that this trend should start reverting in the third semester of the year. Nevertheless, he suggested that growth would not come back until the beginning of 2014. Nowotny also commented that the euro exchange rate is “not a matter of major concern,” responding to Luxembourg Prime Minister Jean Claude-Juncker’s earlier concerns over the excessive strength of the currency. He assured that EU banks depend less and less on the central bank’s funding.
After a year of upheaval across peripheral Europe in 2012, the single currency managed to notch a steadfast gain against its American counterpart during the latter months. Quantifying this advance into the frame of the previous six months however, the EUR has climbed a sizable +8.0% against the USD – posing a fresh threat to the European economy just as many had assumed it was in escape velocity from its debt crisis.
Forex Technical & Market Analysis: January 17 2013
Forex Economic Calendar
2013-01-17 09:00 GMT | E.M.U. ECB Monthly Report
2013-01-17 13:30 GMT | United States. Housing Starts (MoM) (Dec)
2013-01-17 15:00 GMT | United States. Philadelphia Fed Manufacturing Survey (Jan)
2013-01-17 21:45 GMT | Australia. Consumer Price Index (YoY) (Q4)
Forex News
2013-01-17 05:25 GMT | GBP/JPY holding 141.00
2013-01-17 05:16 GMT | EUR/USD in need of 1.3250-1.3310 break
2013-01-17 04:35 GMT | Top-heavy AUD/JPY looking South
2013-01-17 03:35 GMT | AUD/USD dip eyes 1.0500, threatening to continue
TECHNICAL ANALYSIS
-------------------------
EURUSD
HIGH: 1.33147 | LOW: 1.32699 | BID: 1.32803 | ASK: 1.32809 | CHANGE: -0.06% | TIME: 07 : 57:55
OUTLOOK SUMMARY: Down
TREND CONDITION: Sideway
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Medium
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: After the consolidation provided market sentiment is slightly improved for the Euro. Further appreciation needs to clear barrier at 1.3318 (R1). Intraday targets could be found at 1.3333 (R2) and then at 1.3347 (R3). Downwards scenario: Downwards scenario: Market decline below the support level at 1.3269 (S1) might change overall technical picture and shift market sentiment to the bearish side. In such scenario we expect next targets to be exposed at 1.3254 (S2) and 1.3239 (S3)
Resistance Levels: 1.3318, 1.3333, 1.3347
Support Levels: 1.3269, 1.3254, 1.3239
------------------------
GBPUSD
HIGH: 1.60171 | LOW: 1.59806 | BID: 1.59964 | ASK: 1.59971 | CHANGE: -0.05% | TIME: 07 : 57:56
OUTLOOK SUMMARY: Down
TREND CONDITION: Upward penetration
TRADERS SENTIMENT: Bullish
IMPLIED VOLATILITY: Medium
Upwards scenario: Possibility of the downtrend recovery is seen above the local high formed today at 1.6018 (R1). Price extension might validate next intraday targets at 1.6029 (R2) and 1.6041 (R3) in case of successful appreciation above it.Downwards scenario: Cable is consolidating after its losses. A break below the support at 1.5980 (S1) would allow bears remaining in play on the medium-term perspective. Next targets could be found at 1.5970 (S2) and 1.5959 (S3).
Resistance Levels: 1.6018, 1.6029, 1.6041
Support Levels: 1.5980, 1.5970, 1.5959
-----------------------
USDJPY
HIGH: 88.79 | LOW: 88.133 | BID: 88.658 | ASK: 88.665 | CHANGE: 0.32% | TIME: 07 : 57:58
OUTLOOK SUMMARY: Up
TREND CONDITION: Upward penetration
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Medium
Upwards scenario: Appreciation above the 88.79 (R1) might boost the upside pressure. Next visible resistance levels are expected at 88.91 (R2) and 89.04 (R3) in potential. Downwards scenario: Next support level locates at 88.54 (S1), breaching of this level is significant to extend the downside pressure towards to next support 88.40 (S2). If the price manages to overcome it, our final target for today would be found at 88.26 (S3).
Resistance Levels: 88.79, 88.91, 89.04
Support Levels: 88.54, 88.40, 88.26
Source: FX Central Clearing Ltd,( Forex Training | Best Automatic Forex Trading Platforms | FXCC )
- 18.01.2013, 08:43 #212alayoua
Forex Technical & Market Analysis FXCC Jan 18 2013
Forex Technical & Market Analysis FXCC Jan 18 2013
Fiscal negotiations hope to avoid destabilizing a fragile US economy
The remainder of 2012 and early 2013 has thus far been dominated by the “fiscal cliff” negotiations in Washington and the unfinished business associated with them. The repercussions of these political decisions will have far-reaching consequences on the economy, confidence, financial markets and perhaps most importantly, the US credit rating. In the immediate sense, automatic tax increases and mandatory spending cuts set to go into effect in January, amounting to as much as 5% of GDP would – if implemented – most likely drive an already fragile US economy into recession. “By contrast, a ‘kicking the can down the road; solution or underlying mentality of extending all tax cuts and forestalling any spending cuts would only simply defer many tough decisions and would likely lead to another US credit downgrade and weaker business and consumer confidence.” warns Larry V. Adam, an analyst at Deutsche Bank.
We believe that Congressional leaders will ultimately avoid these two extreme alternatives and form a compromise, however in a two- stage process. The first phase will include not extending the payroll tax cut and additional unemployment benefits into next year. The proceeds will be used as a down payment to avoid the implementation of the “sequestration” (i.e. automatic) cuts and allow the Bush-era tax cuts to be extended for an additional six months. In addition, leaders will then develop a “framework” of reduced tax deductions, possible tax increases, targeted spending cuts and entitlement reform to agree upon a more comprehensive long-term solution in a second phase of negotiations early next year. Ultimately, “assuming a fiscal cliff compromise is achieved in Washington that prudently balances growth and austerity, a recession will likely be averted.” Adam suggests. However, the US economy will grow at a tepid 2% rate over 2013 as a whole, as the “fiscal cliff,” even in its modified form, could cause a drag of approximately 1.5% to GDP. https://support.fxcc.com/email/technical/18012013/
Forex Economic Calendar
2013-01-18 09:00 GMT | Italy. Industrial Orders n.s.a (YoY) (Nov)
2013-01-18 09:30 GMT | United Kingdom. Retail Sales (YoY) (Dec)
2013-01-18 13:30 GMT | Switzerland. Manufacturing Shipments (MoM) (Nov)
2013-01-18 14:55 GMT | United States. Reuters/Michigan Consumer Sentiment Index (Jan)Preliminar
Forex News
2013-01-18 04:59 GMT | USD/JPY correction lower may not be complete – Commerzbank
2013-01-18 03:43 GMT | Euro bulls ready to rock
2013-01-18 03:37 GMT | USD/CHF surrenders gains and trading at 0.9310/13
2013-01-18 01:16 GMT | EUR/JPY rallies through 119.00 after Spain and Van Rompuy
TECHNICAL ANALYSIS
---------------------
EURUSD :
HIGH 1.33913 LOW 1.33614 BID 1.33818 ASK 1.33824 CHANGE 0.03% TIME 07 : 56:11
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: A positive market tone dominates on the hourly chart frame and further buying interest might arise above the key resistance at 1.3394 (R1). A break through here would suggest next target at 1.3420 (R2) and if the price holds its momentum we can expect an exposure of 1.3446 (R3). Downwards scenario: Fresh low formed today limits recovery attempts for now. Next support level stays right below it at 1.3358 (S1). Break here would suggest next target at 1.3329 (S2) and any further fall would then be limited by last support at 1.3302 (S3).
Resistance Levels: 1.3394, 1.3420, 1.3446
Support Levels: 1.3358, 1.3329, 1.3302
-----------------------
GBPUSD :
HIGH 1.6006 LOW 1.59636 BID 1.59857 ASK 1.59867 CHANGE -0.05% TIME 07 : 56:12
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: The short- term tendency is bearish as both moving averages are pointing up however risk of market strengthening is seen above the resistance level at 1.5989 (R1). Clearance here would open way for towards to next targets at 1.6005 (R2) and 1.6021 (R3). Downwards scenario: Fresh low, formed today is pointing to key short-term support level at 1.5963 (S1). Decline below it would suggest next intraday target at 1.5949 (S2) and any further easing would then be targeting 1.5933 (S3).
Resistance Levels: 1.5989, 1.6005, 1.6021
Support Levels: 1.5963, 1.5949, 1.5933
----------------------
USDJPY :
HIGH 90.205 LOW 89.634 BID 90.049 ASK 90.055 CHANGE 0.21% TIME 07 : 56:13
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: The next hurdle on the upside lies at 90.21 (R1), any uptrend action above it would put in focus resistance barrier at 90.43 (R2) as the near-term target. Next on tap is final resistance at 90.64 (R3). Downwards scenario: Penetration below the 89.64 (S1) is liable to put more downward pressure on the instrument in the near-term perspective and start forming retracement formation. In such scenario our potential targets locates at 89.42 (S2) and 89.20 (S3).
Resistance Levels: 90.21, 90.43, 90.64
Support Levels: 89.64, 89.42, 89.20
Source: FX Central Clearing Ltd,( Forex ECN Brokers List | Auto Forex Trading Account | FXCC )
- 21.01.2013, 11:01 #213alayoua
Forex Technical & Market Analysis FXCC Jan 21 2013
Forex Technical & Market Analysis FXCC Jan 21 2013
Merkel’s CDU loses Lower Saxony election; setback to her national campaign
Angela Merkel’s ruling centre-right coalition government suffered yet another defeat on this Sunday’s local elections, in what the Financial Times defines as a controversial election in the state of Lower Saxony, according to final forecasts of German television. After early speculation that the result would be a narrow win for Merkel’s Christian Democratic Union (CDU), the Social Democratic party (SDP) and its varies Green party ties managed to gather enough votes to reach a 1 seat majority.
Preliminary final results for Lower Saxony: CDU 36%, SPD 32,6%, FDP 9,9%, Grüne 13,7%, Linke 3,1%. SPD & Grüne coalition gets them a 1 seat majority. Other coalitions possible, yet bottom line is that CDU loses. FT: “A victory for the SPD and Greens could give a boost to their national campaign to replace Ms Merkel’s government in September. But the chancellor’s personal popularity has given the CDU a 17-point lead over the SPD in recent opinion polls.”
Forex Technical & Market Analysis: January 21 2013
Forex Economic Calendar
N/A | E.M.U. Eurogrup meeting
2013-01-21 07:00 GMT | Germany. Producer Price Index (YoY) (Dec)
2013-01-21 08:15 GMT | Switzerland. Industrial Production (YoY) (Q3)
2013-01-21 13:30 GMT | Canada. Wholesale Sales (MoM) (Nov)
Forex News
2013-01-21 06:38 GMT | EUR/USD steady in Asia
2013-01-21 05:54 GMT | EUR/GBP off 5-month highs; stalls below 0.8400
2013-01-21 05:24 GMT | FED to continue QE purchases thru 2014 – RBS
2013-01-21 04:02 GMT | GBP/AUD off fresh 5-month lows at 1.5060
TECHNICAL ANALYSIS
----------------------------
EURUSD
HIGH: 1.33301 | LOW: 1.3302 | BID: 1.33226 | ASK: 1.33235 | CHANGE: 0.07% | TIME: 08 : 30:48
OUTLOOK SUMMARY: Down
TREND CONDITION: Downward penetration
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Low
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: EURUSD established next resistance at 1.3334 (R1), above which is seen possibility of uptrend formation in near –term perspective. Our bullish targets appears at 1.3356 (R2) and 1.3378 (R3). Downwards scenario: The downside remains favored direction for today. The 1.3302 (S1) would be the key support level. Decline below it might take the pair towards to eventual targets, located at 1.3282 (S2) and 1.3262 (S3).
Resistance Levels: 1.3334, 1.3356, 1.3378
Support Levels: 1.3302, 1.3282, 1.3262
-------------------
GBPUSD
HIGH: 1.58733 | LOW: 1.58446 | BID: 1.58718 | ASK: 1.58727 | CHANGE: -0.01% |TIME: 08 : 30:50
OUTLOOK SUMMARY: Down
TREND CONDITION: Down trend
TRADERS SENTIMENT: Bullish
IMPLIED VOLATILITY: Low
Upwards scenario: Instrument lost downside momentum an currently moves in correction mode. Market appreciation is possible above the resistance at 1.5884 (R1). Any upside corrections above this point will then be targeting next resistances at 1.5908 (R2) and 1.5931 (R3). Downwards scenario: Short-term bears expected to be in play below the next support level at 1.5846 (S1). Clearance of this level I required to open way towards to next targets at 1.5825 (S2) and 1.5805 (S3).
Resistance Levels: 1.5884, 1.5908, 1.5931
Support Levels: 1.5846, 1.5525, 1.5805
---------------------------
USDJPY
HIGH: 90.245 | LOW: 89.425 | BID: 89.591 | ASK: 89.596 | CHANGE: -0.53% | TIME: 08 : 30:55
OUTLOOK SUMMARY: Up
TREND CONDITION: Downward penetration
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Low
Upwards scenario: Currently price deviates from its high after the clear uptrend formation on the hourly chart. Buyers have their next challenge at 89.76 (R1). Break through here would suggest next initial targets at 89.98 (R2) and 90.18 (R3).Downwards scenario: Our next support level is placed at 89.42 (S1), that buyers will try to defend. Any extension lower is being able to drive market price towards to our intraday targets at 89.24 (S2) and 89.05 (S3).
Resistance Levels: 89.76, 89.98, 90.18
Support Levels: 89.42, 89.24, 89.05
Source: FX Central Clearing Ltd,( FX Central Clearing Ltd )
- 22.01.2013, 08:01 #214alayoua
Forex Technical & Market Analysis FXCC Jan 22 2013
Forex Technical & Market Analysis FXCC Jan 22 2013
Jeroen Dijsselbloem, appointed new head of the Eurogroup
Jeroen Dijsselbloem, Dutch Finance Minister, has been confirmed as the new president of the Eurogroup. As a peculiar note, German finance minister Mr. Schauble said Spain did not support the appointment of Dijsselbloem for head of the Eurogroup. The Eurogroup press conference started with the outgoing Eurogroup president Jean-Claude Juncker, saying that the EU agreed with the IMF that fiscal consolidation should be continued in differentiated manner.
With regards to Cyprus, Juncker noted that the Eurozone finance ministers had delayed a €17bn bailout until March this year, amid concerns of the sizeable rescue package. Juncker had a special mention for Spain too, expressing please that the banking program remains on track. While for Ireland, Juncker said that "Ireland is a living example that adjustment programs work" Meanwhile, after reports that Greece may need an additional €9.2 Bln, the bloc's finance ministers reportedly support the disbursement in further support for Greece. Eurogroup ‘noted with satisfaction’ the progress on the Greek rescue program. When the floor was given to Oliver Rehn, European Union Economic and Monetary Affairs Commissioner, he said the eurogroup has taken stock of progress on direct bank recapitalisation. He cited some ‘complex technical issues’ remain on direct recaps.
https://support.fxcc.com/email/technical/22012013/
Forex Economic Calendar
N/A | Japan. BoJ Monetary Policy Statement and press conference
N/A | E.M.U EcoFin Meeting
2013-01-22 15:00 | GMT United States. Existing Home Sales Change (MoM) (Dec)
2013-01-22 18:00 | GMT E.M.U. ECB President Draghi's Speech
Forex News
2013-01-22 05:25 GMT | EUR/USD has a daily range to resolve
2013-01-22 05:15 GMT | GBP/USD bounces at Fibo 1.5820, stalls below 1.5860
2013-01-22 04:41 GMT | USD/JPY buyers faked out; 88.90 lowest after 90.00 kiss
2013-01-22 03:21 GMT | AUD/USD launched higher; cracks 1.0520/30 resistance
EURUSD :
HIGH 1.3358 LOW 1.33005 BID 1.33459 ASK 1.33466 CHANGE 0.26% TIME 07 : 56:12
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: We expect that instrument remain largely static in the near term perspective however resistive structure holds above the fresh high at 1.3358 (R1). Break here would suggest 1.3378 (R2) and 1.3399 (R3) as next possible targets. Downwards scenario: We would change our outlook to the negative if the price manage to depreciate below the support at 1.3323 (S1). Loss here might trigger correction formation towards to next targets at 1.3302 (S2) and 1.3282 (S3)
Resistance Levels: 1.3358, 1.3378, 1.3399
Support Levels: 1.3323, 1.3302, 1.3282
GBPUSD :
HIGH 1.5861 LOW 1.58256 BID 1.58594 ASK 1.58603 CHANGE 0.19% TIME 07 : 56:13
OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Instrument looks oversold on the hourly chart and retracement formation looks reasonable above the next resistive barrier at 1.5864 (R1). Our higher retracement targets locates at 1.5884 (R2) and then 1.5904 (R3). Downwards scenario: We expect to see further negative bias formation today if the pair manages to overcome our support level at 1.5839 (S1). Our downside targets lies at 1.5819 (S2) and 1.5798 (S3) in potential.
Resistance Levels: 1.5864, 1.5884, 1.5904
Support Levels: 1.5839, 1.5819, 1.5798
USDJPY :
HIGH 90.112 LOW 88.89 BID 89.149 ASK 89.156 CHANGE -0.55% TIME 07 : 56:14
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Instrument stabilized after the local low, provided today. Consolidation development might keep bulls in play for eventual targets at 89.49 (R2) and 89.66 (R3) if the market mange to push through key resistive barrier at 89.33 (R1). Downwards scenario: Further market decline may encounter supportive measure at 88.88 (S1). Penetration through this level would risk an extension lower targeting our next support levels at 88.71 (S2) and 88.55 (S3) later on today.
Resistance Levels: 89.33, 89.49, 89.66
Support Levels: 88.88, 88.71, 88.55
Source: FX Central Clearing Ltd,( Free Forex Demo Accounts | Top ECN Forex Broker | Forex Blog | FXCC )
- 23.01.2013, 11:52 #215alayoua
Forex Technical & Market Analysis FXCC Jan 23 2013
Forex Technical & Market Analysis FXCC Jan 23 2013
Eurogroup approves Robin Hood tax
Eleven Eurozone countries (Germany, Italy, France, Spain, Austria, Portugal, Belgium, Estonia, Greece, Slovakia and Slovenia) have been authorized to start working on a financial transactions tax (the so-called Robin Hood tax). Eurozone finance ministers have given the green light to the measure today, during the Eurogroup meeting held in Brussels. The tax is based on an idea put forward by the economist James Tobin over forty years ago and its current application is aimed at controlling banks and speculative activities, such as high frequency operations, as each agreement will be taxed.
The Spanish Tesoro Público held a debt auction on Tuesday during which it sold 2.9 billion euros worth of 3- and 6- month bonds. 1.206 billion euros of 3-month bonds were auctioned at an average yield of 0.441%, compared with 1.195% seen at the previous auction. 1.578 billion euros worth of 6-month bonds, were sold at an average yield of 0.888% versus the previous 1.609%. Following the auction Spanish risk premium remained at the level of 355 points.
Forex Technical & Market Analysis: January 23 2013
Forex Economic Calendar
2013-01-23 09:30 GMT | United Kingdom. Bank of England Minutes
2013-01-23 14:00 GMT | United States. Housing Price Index (MoM) (Dec)
2013-01-23 15:00 GMT| Canada. BoC Interest Rate Decision (Jan 23)
2013-01-23 16:15 GMT | Canada. BoC Press Conference
Forex News
2013-01-23 05:45 GMT | Traders defend EUR/USD range tooth and nail
2013-01-23 05:44 GMT | USD/JPY moves below mid term ascending trend line, still above 88.00
2013-01-23 05:17 GMT | GBP/USD holds above 1.5800 ahead of a busy day for the pair
2013-01-23 04:36 GMT | GBP/JPY in the brink of post-BoJ lows
TECHNICAL ANALYSIS
----------------------
EURUSD
HIGH: 1.33295 | LOW: 1.33046 | BID: 1.33140 | ASK: 1.33147 | CHANGE: -0.05% | TIME: 08 : 02:05
OUTLOOK SUMMARY: Neutral
TREND CONDITION: Sideway
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: High
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: We place our next resistance level at 1.3321 (R1). One should note here that in case of penetration above it opens the way for a return to 1.3331 (R2) and potential is seen to reach final target for today at 1.3340 (R3). Downwards scenario: The downside formation might face next supportive barrier at 1.3302 (S1). Clearance here is required to open way towards to our next target at 1.3292 (S2) and any further fall would then be targeting 1.3282 (R3).
Resistance Levels: 1.3321, 1.3331, 1.3340
Support Levels: 1.3302, 1.3292, 1.3282
---------------------
GBPUSD
HIGH: 1.5844 | LOW: 1.58236 | BID: 1.58350 | ASK: 1.58359 | CHANGE: -0.02% | TIME: 08 : 02:06
OUTLOOK SUMMARY: Down
TREND CONDITION: Sideway
TRADERS SENTIMENT: Bullish
IMPLIED VOLATILITY: High
Upwards scenario: Our medium-term outlook is negative for the GBPUSD though possibility of price deviation is seen above the next resistance at 1.5849 (R1). Retracement targets could be found at 1.5874 (R2) and 1.5897 (R3). Downwards scenario: In near term we expect the extension of the downside move over intraday basis today. Risk of price depreciation holds below the next support level at 1.5817 (S1). Loss here might expose next targets at 1.5794 (S2) and 1.5771 (S3).
Resistance Levels: 1.5849, 1.5874, 1.5897
Support Levels: 1.5817, 1.5794, 1.5771
-----------------------
USDJPY
HIGH: 88.791 | LOW: 88.254 | BID: 88.325 | ASK: 88.332 | CHANGE: -0.43% | TIME: 08 : 02:07
OUTLOOK SUMMARY: Down
TREND CONDITION: Down trend
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Medium
Upwards scenario: Next immediate resistive barrier is seen at 88.69 (R1). If instrument gains momentum on the upside and manage to overcome it we expect to see retest of our intraday targets at 88.84 (R2) and 88.99 (R3) on the intraday basis. Downwards scenario: The USDJPY is poised to move lower on the medium-term perspective. Next barrier ahead is seen at 88.14 (S1).A break below this mark would suggest next intraday targets at 87.97 (R2) and 87.83 (R3) in potential.
Resistance Levels: 88.69, 88.84, 88.99
Support Levels: 88.14, 87.97, 87.83
Source: FX Central Clearing Ltd,( ECN Broker | Forex Practice Account | Forex Trading Blog | FXCC )
- 24.01.2013, 11:06 #216alayoua
Forex Technical & Market Analysis FXCC Jan 24 2013
Forex Technical & Market Analysis FXCC Jan 24 2013
MARKET OVERVIEW
2013-01-24 05:50 GMT
BoE Minutes: MPC voted unanimously to keep the interest rate at 0.5%
BoE Minutes from the MPC monetary policy meeting held on 9 and 10 January and released yesterdday reveal that the Committee voted unanimously in favor of keeping the interest rate at 0.5%. As far as the proposition to maintain the stock of asset purchases at £375 billion is concerned, eight MPC members voted in favor while one voted against. David Miles who voted against preferred to boost the QE program by a further £25 billion to a total of £400 billion.
According to the minutes, the MPC “judged that it was not necessary at this meeting to change either Bank Rate or the size of the asset purchase programme in order to meet the inflation target in the medium term,” as the economic developments throughout December had been “modestly positive”. David Miles argued however that “an easing of monetary policy, in part by discouraging any further appreciation of sterling, could help the rebalancing process and avoid potentially lasting destruction of productive capacity and increases in unemployment.”
Forex Technical & Market Analysis: January 24 2013
Forex Economic Calendar
2013-01-24 08:58 GMT | E.M.U. Markit Manufacturing PMI (Jan)
2013-01-24 09:30 GMT | United Kingdom. BBA Mortgage Approvals (Dec)
2013-01-24 13:58 GMT | United States. Markit Manufacturing PMI (Jan)
2013-01-24 23:50 GMT | Japan. BoJ Monetary Policy Meeting Minutes
Forex News
2013-01-24 04:56 GMT | AUD/NZD threatens 1-month low above 1.2450
2013-01-24 04:32 GMT | EUR/JPY above 118.50 on broad Yen weakness
2013-01-24 04:03 GMT | USD/JPY reaches 89.30; 120+pips since London low
2013-01-24 00:53 GMT | EUR/USD resting above 1.3300
AUDUSD NZDUSD USDCHF USDCAD GBPJPY EURCHF GOLD SILVER
TECHNICAL ANALYSIS
------------------
EURUSD
HIGH: 1.33246 | LOW: 1.32972 | BID: 1.33166 | ASK: 1.33175 | CHANGE: -0.01% | TIME: 07 : 49:26
OUTLOOK SUMMARY: Neutral
TREND CONDITION: Sideway
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Medium
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Market sentiment looks neutral and upside movement is limited to resistance level at 1.3325 (R1). Surpassing of this level might enable next target at 1.3333 (R2) and any further gain would then be limited to last resistance at 1.3342 (R3). Downwards scenario: Bearish market sentiment could be created if the price manages to overcome our next support level at 1.3294 (S1). A violation here might call for a run towards to lower targets at 1.3289 (S2) and 1.3280 (S3).
Resistance Levels: 1.3325, 1.3333, 1.3342
Support Levels: 1.3294, 1.3289, 1.3280
-----------------------
GBPUSD
HIGH: 1.58439 | LOW: 1.58124 | BID: 1.58324 | ASK: 1.58334 | CHANGE: -0.08% | TIME: 07 : 49:27
OUTLOOK SUMMARY: Neutral
TREND CONDITION: Sideway
TRADERS SENTIMENT: Bullish
IMPLIED VOLATILITY: Medium
Upwards scenario: Sideways formation remains in power on the hourly timeframe. GBPUSD might find buyers above the important resistance level at 1.5849 (R1). Break here would open route towards to our next resistances at 1.5872 (R2) and 1.5894 (R3) on the intraday basis. Downwards scenario: If market failed to establish positive bias, we expect retest of our key support level at 1.5813 (S1). Break here is required to enable initial targets at 1.5791 (S2) and final one at 1.5768 (S3).
Resistance Levels: 1.5849, 1.5872, 1.5894
Support Levels: 1.5813, 1.5791, 1.5768
-----------------------
USDJPY
HIGH: 89.453 | LOW: 88.414 | BID: 89.323 | ASK: 89.328 | CHANGE: 0.8% | TIME: 07 : 49:28
OUTLOOK SUMMARY: Up
TREND CONDITION: Upward penetration
TRADERS SENTIMENT: Bullish
IMPLIED VOLATILITY: Medium
Upwards scenario: Immediate resistance at 89.47 (R1) remains in near-term focus, climb above this level might open way for a stronger move towards to our targets at 89.67 (R2) and 89.86 (R3) in case of sufficient momentum. Downwards scenario: Our focus now shifted to the next support level at 89.10 (S1). Extension of losses below it might push price towards to our targets at 88.89 (S2) and 88.69 (S3) by forming retracement formation from its initial upside penetration.
Resistance Levels: 89.47, 89.67, 89.86
Support Levels: 89.10, 88.89, 88.69
Source: FX Central Clearing Ltd,( ECN Forex Software | The Best Forex Broker | Forex Account | FXCC )
- 25.01.2013, 10:28 #217alayoua
Forex Technical & Market Analysis FXCC Jan 25 2013
Forex Technical & Market Analysis FXCC Jan 25 2013
The Euro is here to stay; momentum is for higher Euro and lower Yen
The emblematic investor George Soros, speaking at the World Economic Forum in Davo (Switzerland) told the audience that "the euro is now here to stay," according to Bloomberg. Soros was one of the main detractor of the shared-currency back in June last year, when structural problems in Europe were escalating, peripheral yields were going through the roof, and another long list resulting on a grey outlook for the currency. However, once the ECB President Mario Draghi sent the famous message "the ECB will do whatever it takes to save the euro", only then, a change in Soros' opinions started to form, thus he shared with the audience that the immediate crisis is over.
Although he stressed that "there is no time for complacency, and that austerity is not what Europe needs right now" notes Matthew Boesler from Business Insider. Soros added that the next 12 to 24 months will still be "very tense," as Germany will continue to err on the side of caution when taking bold actions needed to re-assure to investors the survival of the euro. Further comments from Soros, courtesy of Tony Connelly, Europe Editor for RTE News, Ireland's public service broadcaster: "The momentum is for the euro to rise and the Yen to fall, but it will be resisted by the US. The divergence between the Yen and euro will be aggravated, will badly affect Germany. Europe is an outlier in that it's not involved in quantitave easing."
https://support.fxcc.com/email/technical/25012013/
Forex Economic Calendar :
N/A All. | World Economic Forum - Davos
2013-01-25 09:30 GMT | United kingdom. Gross Domestic Product (YoY) (Q4)Preliminar
2013-01-25 13:30 GMT | Canada. Bank of Canada Consumer Price Index Core (YoY) (Dec)
2013-01-25 15:00 GMT | United States. New Home Sales (MoM) (Dec)
Forex News :
2013-01-25 06:24 GMT | USD/JPY at fresh cycle highs; Japan deflation same as it ever was
2013-01-25 05:49 GMT | EUR/USD communicating a 1.34 breakout?
2013-01-25 05:43 GMT | EUR/GBP threatening fresh 11-month highs above 0.8470
2013-01-25 05:10 GMT | GBP/JPY erases all weekly loses back above 142.50
EURUSD :
HIGH 1.33791 LOW 1.33497 BID 1.33664 ASK 1.33671 CHANGE -0.06% TIME 08 : 39:31
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Our next resistance level lie at 1.3380 (R1). Rise above it might provide sufficient space for the appreciation towards to next target at 1.3392 (R2). Further market increase above it would face final resistance at 1.3403 (R3).Downwards scenario: We placed our support level right below the local low formed today at 1.3349 (S1). Break here would be essential to begin the short-term bearish momentum. Initial targets could be found at 1.3339 (S2) and 1.3329 (S3).
Resistance Levels: 1.3380, 1.3392, 1.3403
Support Levels: 1.3349, 1.3339, 1.3329
----------------------
GBPUSD :
HIGH 1.57908 LOW 1.57614 BID 1.57656 ASK 1.57664 CHANGE -0.13% TIME 08 : 39:32
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Risk of price appreciation is seen above the next resistance level at 1.5796 (R1). Surpassing of this level would suggest next target at 1.5819 (R2) and any further rise would then be targeting 1.5841 (R3).Downwards scenario: If market holds its downside momentum, we expect attack to the next support level at 1.5756 (S1). Successful retest of this level would open way towards to initial targets at 1.5733 (S2) and 1.5710 (S3).
Resistance Levels: 1.5796, 1.5819, 1.5841
Support Levels: 1.5756, 1.5733, 1.5710
-----------------------
USDJPY :
HIGH 90.685 LOW 90.291 BID 90.519 ASK 90.526 CHANGE 0.21% TIME 08 : 39:33
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Medium-term bias is clearly positive after the sufficient price appreciation yesterday. Fresh high formed today acts now as next resistance level at 90.68 (R1). Above here open way towards to next targets at 90.88 (R2) and then at 91.07 (R3). Downwards scenario: On the slightly short term perspective correction development looks reasonable. Below the fresh low formed today locates our next support level at 90.29 (S1). Break here is required to open a route towards to next targets at 90.08 (S2) and potentially to 89.88 (S3).
Resistance Levels: 90.68, 90.88, 91.07
Support Levels: 90.29, 90.08, 89.88
Source: FX Central Clearing Ltd,( http://www.fxcc.com )
- 28.01.2013, 09:40 #218alayoua
Forex Technical & Market Analysis FXCC Jan 28 2013
Forex Technical & Market Analysis FXCC Jan 28 2013
MARKET OVERVIEW
Euro rallies on LTRO payback
The European Central Bank announced on Friday that 278 Eurozone banks would repay 137.2 billion euro borrowed in December 2011 under the 3-year Long Term Repo Operation (LTRO). The first early paybacks would take place on January 30. This is a larger amount of early repayments than the market consensus of 100 billion euros and approximately 30% of the December 2011 loans, “but it continues to leave open the question of how much will be repaid when the next €529.5bn becomes eligible for repayment on February 27th (to be announced Feb 22),” as Richard Kelly, Head of European Rates and FX Research at TD Securities points out. The expert predicts that it is “likely to be less than today’s figure, perhaps around the €75-100bn range for a total repayment of €200-225bn, slightly about our initial €150bn estimates.”
ECB head Mario Draghi said today at the World Economic Forum in Davos, Switzerland that the sovereign bond purchase program (OMT) would remain active for “as long as necessary.” He also added that the Eurozone will benefit from ECB’s accommodative policy. Draghi affirmed that the LTRO program had helped avoid a credit crunch and contributed to restoring a relative calm in the Eurozone. The ECB chief also emphasized the importance of the implementation of structural reforms and said that he expects the Eurozone to recover by the end of the year. Finally, Draghi went over the measures introduced by the ECB throughout 2012 and signalized that the challenge for this year would be to overcome the fragmentation which still differentiates financial and capital markets and causes inequality in financing.
Forex Technical & Market Analysis: January 28 2013
Forex Economic Calendar
2013-01-28 13:30 GMT | United States. Durable Goods Orders (Dec)
2013-01-28 15:00 GMT | United States. Pending Home Sales (YoY) (Dec)
2013-01-28 21:45 GMT | Australia. Trade Balance (MoM) (Dec)
2013-01-28 23:00 GMT | Australia. CB Leading Indicator (Nov)
Forex News
2013-01-28 05:47 GMT | EUR/GBP above 0.8540; biggest monthly gain in 4 years
2013-01-28 05:34 GMT | EUR/USD, 1.35 the catalyst for greater gains?
2013-01-28 04:43 GMT | GBP/USD holds above 1.5750 lows
2013-01-28 04:10 GMT | AUD/JPY limited below fresh 4-years high area around 95.00
TECHNICAL ANALYSIS
----------------------
EURUSD
HIGH: 1.34711 | LOW: 1.34502 | BID: 1.34522 | ASK: 1.34527 | CHANGE: -0.01% | TIME: 08 : 41:09
OUTLOOK SUMMARY: Up
TREND CONDITION: Up trend
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Low
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Further upwards formation is limited to resistive measure at 1.3479 (R1). A break above it would suggest next target at 1.3492 (R2). If the price holds its momentum we can expect price increase towards to 1.3506 (R3). Downwards scenario: Instrument trapped to the consolidation formation after its initial uptrend development. Risk of further depreciation is seen below the next support level at 1.3447 (S1). Clearance here might put selling pressure to the pair and enable next targets at 1.3433 (S2) and 1.3418 (S3).
Resistance Levels: 1.3479, 1.3492, 1.3506
Support Levels: 1.3447, 1.3433, 1.3418
----------------------
GBPUSD
HIGH: 1.5785 | LOW: 1.57534 | BID: 1.57585 | ASK: 1.57594 | CHANGE: -0.23% | TIME: 08 : 41:10
OUTLOOK SUMMARY: Down
TREND CONDITION: Downward penetration
TRADERS SENTIMENT: Bullish
IMPLIED VOLATILITY: Low
Upwards scenario: Instrument trades under the descending channel formation, though market recovery is possible above the next resistance at 1.5786 (R1). Break here is required for further appreciation towards to our initial targets at 1.5808 (R2) and 1.5830 (R3). Downwards scenario: If the price manages to overcome our key support at 1.5745 (S1), we expect to see downtrend development towards to our next target at 1.5725 (S2) and any further depreciation would then be limited to 1.5704 (S3).
Resistance Levels: 1.5786, 1.5808, 1.5830
Support Levels: 1.5745, 1.5725, 1.5704
--------------------
USDJPY
HIGH: 91.255 | LOW: 90.833 | BID: 90.874 | ASK: 90.881 | CHANGE: 0.03% | TIME: 08 : 41:11
OUTLOOK SUMMARY: Up
TREND CONDITION: Up trend
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Low
Upwards scenario: USDJPY formed clearly positive market sentiments but recently lost some momentum on the upside. Appreciation above the 91.26 (R1) might push the price towards to our next target at 91.48 (R2) and any further rise would then be targeting resistance at 91.70 (R3). Downwards scenario: Although consolidation development looks reasonable on the hourly timeframe. If the market break below the next support at 90.76 (S1), we suggest next targets to be placed at 90.54 (S2) and 90.32 (S3).
Resistance Levels: 91.26, 91.48, 91.70
Support Levels: 90.76, 90.54, 90.32
Source: FX Central Clearing Ltd,( ECN Broker Account | Currency Converter | Forex Blog | FXCC )
- 29.01.2013, 11:12 #219alayoua
Forex Technical & Market Analysis FXCC Jan 29 2013
Forex Technical & Market Analysis FXCC Jan 29 2013
MARKET OVERVIEW
Eurozone periphery nations recover up to €100bn in private funds – FT
On its front cover, the Financial Times highlights the growing capital flocking back to Eurozone’s peripheral countries, with the sum amounting over €100bn of private funds since late last year. From the FT: “The scale of the net inflows, equivalent to about 9% of the economic output of Spain, Italy, Portugal, Ireland and Greece according to calculations by ING, highlight the revival in investor confidence in Europe’s monetary union after Mario Draghi, ECB president, pledged to preserve its integrity.”
However, as the Financial Times stresses, the private inflows are still little if compared to the far larger outflows from 2011/2012, a time when the Eurozone tail risk led many investors to remove huge sums of money from debt-exposed countries. The FT adds: “Total net private inflows into the periphery countries totalled €93bn in the last four months of 2012, according to ING. In contrast, the first eight months had seen €406bn flow out of the five countries, equivalent to almost 20 per cent of gross domestic product in the periphery economies. In 2011, outflows from the periphery totalled €300bn.”
https://support.fxcc.com/email/technical/29012013/
Forex Economic Calendar
2013-01-29 07:00 GMT | Germany. Gfk Consumer Confidence Survey (Feb)
2013-01-29 15:00 GMT | United States. Consumer Confidence (Jan)
2013-01-29 21:45 GMT | Australia. Building Permits s.a. (MoM) (Dec)
2013-01-29 23:50 GMT | Japan. Large Retailer’s Sales (Dec)
Forex News
2013-01-29 05:50 GMT | EUR/USD, calm before next bullish storm?
2013-01-29 05:34 GMT | GBP/USD above 1.5700; stalling the fall ahead of key Fibo
2013-01-29 05:04 GMT | FED to keep easing in the near term – NAB
2013-01-29 03:49 GMT | AUD/JPY pressing against fresh 4-year highs sub-95.00
TECHNICAL ANALYSIS
----------------------
EURUSD
HIGH: 1.34604 | LOW: 1.3443 | BID: 1.34470 | ASK: 1.34477 | CHANGE: -0.05% | TIME: 08 : 45:44
OUTLOOK SUMMARY: Up
TREND CONDITION: Sideway
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Low
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Instrument stabilized and we expect neutral formation development prior further volatility increase. Intraday bull’s power might activate when the pair approach resistance level at 1.3463 (R1). Our next target is seen at 1.3476 (R2) and 1.3489 (R3) in potential. Downwards scenario: Next support comes at 1.3441 (S1) level. Loss here might shift market sentiment to bearish and price could accelerate towards to the next targets at 1.3429 (S2) and 1.3416 (S3).
Resistance Levels: 1.3463, 1.3476, 1.3489
Support Levels: 1.3441, 1.3429, 1.3416
-----------------------
GBPUSD
HIGH: 1.57078 | LOW: 1.56853 | BID: 1.57035 | ASK: 1.57043 | CHANGE: 0.06% | TIME: 08 : 45:45
OUTLOOK SUMMARY: Down
TREND CONDITION: Sideway
TRADERS SENTIMENT: Bullish
IMPLIED VOLATILITY: Low
Upwards scenario: Our resistance level at 1.5715 (R1) is our reference point for the upside penetration. Break above it would suggest us about the further uptrend formation with possible targets at 1.5736 (R2) and 1.5756 (R3) in perspective. Downwards scenario: Yesterday low is acting now as key support level at 1.5673 (S1). Clearance here is required to keep the rally intact and expose lower targets at 1.5654 (S2) and 1.5635 (S3).
Resistance Levels: 1.5715, 1.5736, 1.5756
Support Levels: 1.5673, 1.5654, 1.5635
---------------
USDJPY
HIGH: 91.016 | LOW: 90.401 | BID: 90.794 | ASK: 90.798 | CHANGE: -0.02% | TIME: 08 : 45:46
OUTLOOK SUMMARY: Up
TREND CONDITION: Sideway
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: Low
Upwards scenario: USDJPY continues to trade within same range price as yesterday. Next on tap is resistance level at 91.03 (R1). A break higher could open the door for an attack to the next target at 91.22 (R2). Final immediate resistance is seen at 91.42 (R3). Downwards scenario: Price might deviate to the lower end of the range in near term perspective to continue correction development. In regards of technical levels, next barrier is seen at 90.56 (S1). Decline below it might resume weakness towards to our initial targets 90.36 (S2) and 90.14 (S3).
Resistance Levels: 91.03, 91.22, 91.42
Support Levels: 90.56, 90.36, 90.14
Source: FX Central Clearing Ltd,( ECN Broker List | Forex Trading Account | Currency Converter | FXCC )
- 30.01.2013, 10:52 #220alayoua
Forex Technical & Market Analysis FXCC Jan 30 2013
Forex Technical & Market Analysis FXCC Jan 30 2013
MARKET OVERVIEW
Fed to leave rates unchanged in January and probably for the rest of the year
The Federal Reserve’s monetary policy meeting is expected to be uneventful this month, following the FOMC’s announcement of open ended QE4 in December which would be finalized only when the unemployment rate falls below 6.5% or inflation accelerates above 2.5%. The lack of action would also be justified by the fact that “the fundamental picture remains relatively unchanged,” as Richard C. Lee points out. The analyst acknowledges that “pockets of the economy have improved over the last quarter” but nevertheless he believes that “the Federal Reserve will likely remain steadfast in its current policy direction for much of 2013.” Other analysts polled for the special forecast report agree with this opinion. Their projections are quite similar, with Yohay Elam suggesting that “rates will probably remain low until 2015, and less QE isn’t due until 2014,” Albero Muñoz predicting that “it’s not very likely that we have any change in monetary policy through 2013″ and Ilian Yotov saying that “the Fed will stay the course at its January meeting and quite possibly for the rest of the year.”
According to Yohay Elam the FOMC will rather concentrate on the economic outlook and it “could acknowledge the ongoing slow recovery and the lower level of political uncertainty as positive factors, but without any hint on policy change anytime soon.” Valeria Bednarik emphasizes however that if the members consider withdrawing QE gradually towards the end of the year we could expect “strong risk aversion rallies during the announcement, with dollar favored across the board.” The FOMC will release its monetary policy statement on January 30 at 19:15 GMT.
Forex Technical & Market Analysis: January 30 2013
Forex Economic Calendar
2013-01-30 10:00 GMT | E.M.U Consumer Confidence (Jan)
2013-01-30 13:30 GMT | United States. Gross Domestic Product Annualized (Q4)Preliminar
2013-01-30 19:15 GMT | United States. US Fed Interest Rate Decision
2013-01-30 20:00 GMT | Australia. NZ RBNZ Interest Rate Decision
Forex News
2013-01-30 06:46 GMT | EUR/USD remains capped by 1.3500
2013-01-30 05:37 GMT | GBP/USD capped underneath 1.5750
2013-01-30 04:24 GMT | Yen still weakest against all others
2013-01-30 01:54 GMT | AUD/JPY cracks 95.00 major resistance
TECHNICAL ANALYSIS
---------------------------
EURUSD
HIGH: 1.34951 | LOW: 1.3482 | BID: 1.34864 | ASK: 1.34869 | CHANGE: -0.04% |TIME: 08 : 50:39
OUTLOOK SUMMARY: Up
TREND CONDITION: Upward penetration
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: High
MARKET ANALYSIS – Intraday Analysis
Upwards scenario: A buying interest pushed the Euro on the local high’s yesterday and determine positive bias in near term perspective. Successful attack to the 1.3498 (R1) price level might encourage uptrend formation with possible intraday targets at 1.3511 (R2) and 1.3525 (R3) in potential. Downwards scenario: Clearance of next support level at 1.3477 (S1) might significantly stimulate Bearish oriented traders. Possible price devaluation would then be targeting supportive measures at 1.3464 (S2) and 1.3449 (S3).
Resistance Levels: 1.3498, 1.3511, 1.3525
Support Levels: 1.3477, 1.3464, 1.3449
------------------------
GBPUSD
HIGH: 1.57641 | LOW: 1.57414 | BID: 1.57497 | ASK: 1.57506 | CHANGE: -0.08% | TIME: 08 : 50:40
OUTLOOK SUMMARY: Up
TREND CONDITION: Upward penetration
TRADERS SENTIMENT: Bullish
IMPLIED VOLATILITY: High
Upwards scenario: The GBPUSD is now losing upside momentum after the former strength. Next resistance ahead is seen above the yesterday high at 1.5774 (R1). Rising up above this level would suggest next targets at 1.5793 (R2) and 1.5813 (R3) in potential. Downwards scenario: Although market price remained relatively stable, depreciation below the next support level at 1.5728 (S1) might create negative traders sentiment. We expect that our intraday target at 1.5707 (S2) and 1.5685 (S3) could be exposed later on today in such case.
Resistance Levels: 1.5774, 1.5793, 1.5813
Support Levels: 1.5728, 1.5707, 1.5685
----------------------------
USDJPY
HIGH: 91.031 | LOW: 90.661 | BID: 90.898 | ASK: 90.904 | CHANGE: 0.2% | TIME: 08 : 50:41
OUTLOOK SUMMARY: Up
TREND CONDITION: Upward penetration
TRADERS SENTIMENT: Bearish
IMPLIED VOLATILITY: High
Upwards scenario: Measures of resistance might be activating when the pair approaches the 91.03 (R1), break here would suggest next target at 91.22 (R2). If the price holds its momentum on the upside we can expect final intraday resistive barrier at 91.42 (R3). Downwards scenario: Any penetration below our support level at 90.77 (S1) might create more scope for the USDJPY weakness in near-term perspective. We are looking to our immediate supports at 90.56 (S2) and 90.36 (S3) as next possible targets in such scenario.
Resistance Levels: 91.03, 91.22, 91.42
Support Levels: 90.77, 90.56, 90.36
Source: FX Central Clearing Ltd,( FX Central Clearing Ltd )
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