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Thread: Forex Market Overview

  1. #1

    Default Forex Market Overview

    2012-09-14 00:12 GMT

    On USD/JPY intervention watch today - Westpac
    According to Sean Callow, senior currency strategist at Westpac: "Some support came from NY traders telling news wires that the Bank of Japan had checked prices. We also heard an anonymous Japanese govt official deeming post-FOMC yen moves to be 'very excessive, speculative'." Westpac are very much on Intervention watch today.
    London session ahead will bring EU CPI and employment figures, along with Italy current account at 09:00 GMT, with no more EUR/USD macro data related for the day till the NY session time, when before it opens, US CPI and retail sales are expected at 12:30 GMT. No sovereign debt auction in the euro zone as usual for Fridays. Monthly currency options expire during the weekend.

    Read More At https://support.fxcc.com/email/technical/14092012/


    FOREX CALENDAR

    2012-09-14 09:00 GMT | E.M.U. Consumer Price Index (YoY) (Aug)
    2012-09-14 12:30 GMT | United States. Retail Sales (MoM) (Aug)
    2012-09-14 13:15 GMT | United States. Industrial Production (MoM) (Aug)
    2012-09-14 13:55 GMT | United States. Reuters/Michigan Consumer Sentiment Index (Sep) Preliminar
    2012-09-14 04:36 GMT | EUR/USD above 1.30 ahead of ECOFIN
    2012-09-14 02:39 GMT | AUD/JPY hits 82.00
    2012-09-14 01:56 GMT | AUD/USD breaks NY highs; targeting 1.0615
    2012-09-14 23:23 GMT | USD/JPY: BoJ eyeing 77.00 – V.Bednarik




    FOREX TECHNICAL ANALYSIS:

    Forex Market Overview-1-png

    MARKET ANALYSIS - Intraday Analysis

    The European Council meeting today might bring additional volatility to the markets. We expect that EURUSD decline today however medium term bias remains positive. Uptrend development might face next resistance level at 1.3086 (R1). Brake here is essential for the bullish market participants with next targets in focus at 1.3179 (R2) and 1.3267 (R3). On the downturn, a consolidation might take the pair towards to eventual supports located at 1.2959 (S1), 1.2874 (S2) and 1.2789 (S3). Consumer Price Index release at 09:00 GMT is the next macroeconomic data in focus.


    Forex Market Overview-2-png

    MARKET ANALYSIS - Intraday Analysis

    GBPUSD gained momentum and maintained uptrend development. Currently pair trades at the day high and we see potential for further appreciation towards to next resistance at 1.6235 (R1). Brake here would suggest next targets at 1.6289 (R2) and 1.6347 (R3). Though, our short –term outlook is negative and easing towards to our next support level at 1.6164 (S1) is possible. Clear break here is required for further depreciation with next intraday targets at 1.6106 (S2) and 1.6048 (S3) in potential.


    Forex Market Overview-3-pngForex Market Overview-3-png

    MARKET ANALYSIS - Intraday Analysis

    USDJPY eased yesterday below the suggested support level at 77.69 and managed to reach our final target at 77.33. Market sentiment is bearish and brake below the support at 77.51 (S1) would suggest next target at 77.35 (S2). Price level at 77.17 (S3) is acting as final support level for the pair today. On the other hand, If the market manage to climb above the resistance level at 77.74 (R1) we expect next target to be achieved at 77.92 (R2) and any further rise would then be targeting to 78.09 (R3).

    Source: FX Central Clearing Ltd, www.fxcc.com

  2. #2

    Default Daily Forex Trading Market Analysis Review 20-9-2012

    2012-09-20 02:38 GMT

    HSBC Manufacturing PMI still in contraction at 47.8

    The HSBC Flash China Manufacturing PMI registered a 2-month high of 47.8 in September from 47.6 in August, Markit Economics reported Thursday. This reading signals that the manufacturing sector in China remains in contraction (above 50.0 indicates industry expansion, below indicates contraction).

    For the London session ahead the Spanish sovereign 10 year bond auction will take center stage, as yields have been below 6% for last few days, and previous auction reached a 6.65% final yield. France will also sell up to € 10B in different maturities starting at 08:50 GMT. In the macro data EUR related front Germany will release its PPI figures at 06:00 GMT, followed by French PMIs at 06:58 GMT, German PMIs at 07:28 GMT, Netherlands consumer confidence and unemployment 2 minutes later, EU PMIs at 07:58 GMT, and Italian industrial orders 2 minutes later.


    FOREX CALENDAR

    2012-09-20 07:28 GMT | Germany. Markit Manufacturing PMI (Sep) Preliminar

    2012-09-20 08:30 GMT | United Kingdom. Retail Sales (YoY) (Aug)

    2012-09-20 12:30 GMT | United States. Initial Jobless Claims (Sep 15)

    2012-09-20 14:00 GMT | United States. Philadelphia Fed Manufacturing Survey (Sep)


    FOREX NEWS

    2012-09-20 04:35 GMT | EUR/JPY moves downhill, regional bourses deep in red

    2012-09-20 04:31 GMT | EUR/USD holding above 1.30

    2012-09-20 03:22 GMT | AUD/JPY pressured, Asian stocks weigh

    2012-09-20 00:37 GMT | USD/JPY: expect slide to continue below 78.20 – V.Bednarik


    FOREX TECHNICAL ANALYSIS:



    MARKET ANALYSIS - Intraday Analysis

    Today we expect increase of volatility due to the many macroeconomic data releases. The Germany market Manufacturing PMI release at 07:28 GMT is the next news in focus for Eurozone. Local high, formed yesterday at 1.3085 (R1) is acts now as next immediate resistance level today. Brake here is required to enable stronger market action, targeting 1.3131 (R2) and 1.3173 (R3). At the moment instrument is moving towards to our next support level at 1.2298 (S1). If it breaks below it, we expect further downgrade towards to next targets at 1.2945 (S2) and 1.2900 (S3).



    MARKET ANALYSIS - Intraday Analysis

    Decline into the negative territory yesterday initiated selling pressure and GBPUSD dropped below the suggested support level at 1.6218. Technically, pair is set for new targets achievement. On the upside, next resistance locates above the today’s high at 1.6239 (R1). Break here would suggest next target at 1.6274 (R2) and any further rise would then be limited to 1.6311 (R3). However, successful retest of our next support level at 1.6181 (S1) would suggest a pullback expansion towards to targets at 1.6144 (S2) and 1.6109 (S3). In focus UK Retail Sales for August at 08:30.



    MARKET ANALYSIS - Intraday Analysis

    The pair is under the process of recovering. Our bearish medium term outlook will remain in place while USDJPY trades below the resistance at 78.46 (R1). Break here might change market structure and determine medium term uptrend development. In such scenario we would suggest next targets at 78.73 (R2) and 79.01 (R3). Though, today we expect that the pair continues to extend its bearish pressure and face next support level at 77.88 (S1). Break here is required to extend easing towards to 77.62 (S2) and 77.37 (S3) in perspective.


    Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)

  3. #3

    Default Forex Trading Market Analysis Overview by FXCC Sep 25 2012

    2012-09-25 01:45 GMT

    RBA Financial Stability Review: Cautiously upbeat on the economy

    According to the RBA Financial Stability Review, Australian households remain well positioned to pay back their debts. Looking at business appetite for debt, the central bank expects it to recover while reaffirming that corporate balance sheets are in good shape. The RBA commented that IMF tests indicate banks are likely to withstand severe shocks, although they remain strong to cope with any potential EZ shock, which they expect is likely to remain core risk to the global financial system. RBA warned that the decrease in profits by banks may promote unwanted riskier lending. RBA is confident that modest employment growth will continue, according to latest survey observations.

    Busy day ahead for the London session in the sovereign debt auctions front, with Italy selling zero coupon bonds and the Netherlands up to € 2.5B worth of 20 year bonds, while Spain will try to sell 3 and 6 month bills. Italy's 10 year bond yields have been around 5% for current week while Spain's one have been below 6%, around multi-week lows.


    Read More At https://support.fxcc.com/email/technical/24092012/


    UPCOMING EVENTS

    2012-09-25 12:30 GMT | Canada. Retail Sales (MoM) (Jul)

    2012-09-25 13:00 GMT | European Monetary Union. ECB President Draghi's Speech

    2012-09-25 14:00 GMT | United States. Consumer Confidence (Sep)

    2012-09-25 17:30 GMT | United States. Treasury's Geithner Speech


    FOREX NEWS

    2012-09-25 04:43 GMT | GBP/USD still sideways below 1.6300

    2012-09-25 02:31 GMT | AUD/USD snaps higher post China data

    2012-09-25 01:26 GMT | Scenarios for EUR/USD to target 1.25 in Q4 - JPMorgan

    2012-09-25 00:51 GMT | Has USD/JPY found temporal bottom?


    TECHNICAL ANALYSIS

    EURUSD 1.29362 | 1.29368
    DAILY WEEKLY MONTHLY
    -----------------------------------



    1.3013 | 1.2984 | 1.2956
    1.2923 | 1.2891 | 1.2860

    SUMMARY: Up
    TREND: Upward penetration
    MA10: Bullish
    MA20: Bullish
    STOCHASTIC: Neutral

    MARKET ANALYSIS - Intraday Analysis

    Technical Summary: EURUSD formed retracement formation yesterday, turning intraday bias to the negative side however market sentiment remains positive on the medium term perspective. ECB President Draghi's Speech In focus today. Main scenario: Further easing might initiate protective orders execution and drive market price below the next support level at 1.2923 (S1). Next expected targets for locates at 1.2891 (S2) and 1.2860 (S3). Alternative scenario: Next resistance level is seen at 1.2956 (R1), clearance here would open way for strengthening towards to next targets at 1.2984 (R2) and 1.3013 (R3).

    GBPUSD 1.62254 | 1.62266
    DAILY WEEKLY MONTHLY
    -----------------------------------



    1.6295 | 1.6270 | 1.6242
    1.6212 | 1.6185 | 1.6157

    SUMMARY: Up
    TREND: Upward penetration
    MA10: Bullish
    MA20: Bullish
    STOCHASTIC: Neutral

    MARKET ANALYSIS - Intraday Analysis

    Technical Summary: The pair continues to extend its weakness on the short term perspective. We expect the pair to remain on a gradual downtrend formation today. Main scenario: Our 20 sma at 1.6212 (S1) acts as next support level. Below here opens the way for a return to 1.6185 (S2) price level. Potential is seen to reach final target at 1.6157 (S3) in perspective. Alternative scenario: Risk of upside penetration is seen above the next resistance at 1.6242(R1). Clearance here would suggest next targets at 1.6270 (R2) and 1.6295 (R3) in potential.

    USDJPY 77.790 | 77.796
    DAILY WEEKLY MONTHLY
    -----------------------------------



    78.20 | 78.06 | 77.91
    77.73 | 77.59 | 77.44

    SUMMARY: Down
    TREND: Sideway
    MA10: Bearish
    MA20: Bearish
    STOCHASTIC: Oversold

    MARKET ANALYSIS - Intraday Analysis

    Technical Summary: Pair has settled negative bias on the hourly timeframe however pull back formation is possible. Today’s trading session has set up negative sentiment with instrument depreciation to -0.12% from its opening price. Main scenario: If instrument holds its momentum, we expect to see penetration below the next support at 77.73 (S1). In such scenario we suggest our next targets to be placed at 77.59 (S2) and 77.44 (S3). Alternative scenario: Our 20 sma might be considered as dynamic resistance for the instrument. Successful attack to the 77.91 (R1) price level might encourage correction formation with next targets in focus at 78.06 (R2) and 78.20 (R3).


    Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)

  4. #4

    Default Forex Trading Market Analysis Overview by FXCC Sep 26 2012

    2012-09-26 03:27 GMT

    S&P downgrades South Australia

    Standard & Poor’s Ratings Services said today that it has lowered its long-term issuer credit rating on the Australian State of South Australia and the state’s financing arm, South Australian Government Financing Authority, to ‘AA’ from ‘AA+’. At the same time, we affirmed the ‘A-1+’ short-term rating on both entities. The outlook is stable.

    "The London session will be a relatively quiet one in EUR macro related terms, starting with French consumer confidence at 06:45 GMT, followed by Italy retail sales at 08:00 GMT, and German preliminary CPI at 12:00 GMT. In the sovereign debt auctions front Germany will try to sell up to € 5B in 10 year bunds at 06:00 GMT, while Italy will auction up to € 9B in 6-month bills. Germany 10 year yields closed yesterday in a relative safe 1.55% well above all time record lows from July at 1.12%, while Italy 10y yields hover around 5%. EU Vice President Rehn will attend final day at Havard University today." Traders should also be alerted to possible headlines on the Spanish-bailout, protests front, Greece funding issues and any other EZ debt crisis-related news.


    Read More At https://support.fxcc.com/email/technical/26092012/


    UPCOMING EVENTS

    2012-09-26 08:30 GMT | United Kingdom. BOE Credit Conditions Survey

    2012-09-26 10:00 GMT | United Kingdom. CBI Distributive Trades Survey - Realized

    2012-09-26 14:00 GMT | United States. New Home Sales

    2012-09-26 14:30 GMT | United States. EIA Crude Oil Stocks change


    FOREX NEWS

    2012-09-26 04:43 GMT | GBP/USD stops triggered below 1.6150

    2012-09-26 04:19 GMT | EUR/USD breaks down to 9-day lows

    2012-09-26 03:06 GMT | AUD/CAD, a good sell into strength - Westpac

    2012-09-26 02:57 GMT | AUD/JPY decline extends; 38.2% Fibo support in sight


    TECHNICAL ANALYSIS

    EURUSD 1.28735 / 1.28739
    DAILY WEEKLY MONTHLY
    -----------------------------------



    1.2970 | 1.2935 | 1.2899
    1.2860 | 1.2827 | 1.2793

    SUMMARY: Down
    TREND: Downward penetration
    MA10: Bearish
    MA20: Bearish
    STOCHASTIC: Neutral

    MARKET ANALYSIS - Intraday Analysis

    Technical Summary: Technically, market sentiment is bearish now and we expect further instrument depreciation on the medium term perspective. However fresh low, form today is acting as a bottom peak of downwards channel on the hourly chart and pull back is possible towards to our resistance levels on the short term Main scenario: Further price decrease is expected below the next support level at 1.2860 (S1). Break here is required to enable next targets at 1.2827 (S2) and 1.2793 (S3). Alternative scenario: On the other hand, consolidation looks reasonable today. The price progress above the next resistance at 1.2899 (R1) might expose next targets at 1.2935 (R2) and 1.2970 (R3) in potential.

    GBPUSD 1.61679 | 1.61686
    DAILY WEEKLY MONTHLY
    -----------------------------------



    1.6237 | 1.6214 | 1.6190
    1.6149 | 1.6125 | 1.6099

    SUMMARY: Down
    TREND: Downward penetration
    MA10: Bearish
    MA20: Bearish
    STOCHASTIC: Neutral

    MARKET ANALYSIS - Intraday Analysis

    Technical Summary: Pair already lost -0.15% percent from its opening price today and we expect some volatility increase later on today. Medium term bias is negative for the instrument and we might see new lows ahead. Main scenario: Next support level locates at fresh low, formed today -1.6149 (S1), pushdown of the price is possible below this level. We suggest next targets at 1.6125 (S2) and 1.6099 (S3). Alternative scenario: Failure to go lower suggested support level will put in focus our resistance level at 1.6190 (R1), break here would suggest next targets at 1.6214 (R2) and 1.6237 (R3).

    USDJPY 77.743 | 77.749
    DAILY WEEKLY MONTHLY
    -----------------------------------



    78.20 | 78.06 | 77.91
    77.65 | 77.48 | 77.31

    SUMMARY: Down
    TREND: Sideway
    MA10: Bearish
    MA20: Bullish
    STOCHASTIC: Neutral

    MARKET ANALYSIS - Intraday Analysis

    Technical Summary: Yesterday instrument trades without a priority in direction. Stochastic Oscillator is approaching bottom zone and we expect to see some consolidation ahead in such market setup with price progress towards to our resistance levels. Main scenario: A break of technically important level at 77.91 (R1) might determine positive bias for today. Next suggested targets for upside direction locates at 78.06 (R2) and 78.20 (R3). Alternative scenario: If the pair gain momentum on the down side and retest our support level at 77.65 (S1), we suggest next targets at 77.48 (S2) and 77.31 (S3).


    Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)

  5. #5

    Default Forex Trading Market Analysis Overview by FXCC Sep 27 2012

    2012-09-26 21:59 GMT

    Moody's downgrade to Spain as early as today? - NAB

    After poor risk sentiment on Wednesday, immediate risk now, according to NAB analysts, "is that Moody’s may act to slash Spain’s credit rating to junk, having warned in mid-June (when it cut Spain by three notched to Baa3) that further action was likely within three months." The timing of ratings agency actions, NAB explains, "has been exquisite so don’t bet against this happening as early as today."

    Busy session ahead in London with all eyes focused on Spain, though there will also be plenty of risk events coming on the way. German import prices will be released at 06:00 GMT, followed 1 hour later by Spanish retail sales, German unemployment change at 07:55 GMT, EU M3 and private loans 5 minutes later along with Italy business sentiment, and EU business climate index and sentiment data at 09:00 GMT.


    Read More At https://support.fxcc.com/email/technical/27092012/


    UPCOMING EVENTS

    2012-09-27 07:55 GMT | Germany. Unemployment Change

    2012-09-27 08:30 GMT | United Kingdom. Gross Domestic Product

    2012-09-27 12:30 GMT | United States. Core Durable Goods Orders

    2012-09-27 14:00 GMT | United States. Pending Home Sales


    FOREX NEWS

    2012-09-27 04:42 GMT | GBP/USD gently bid, UK GDP ahead

    2012-09-27 04:35 GMT | EUR/USD capped below 1.2890

    2012-09-27 03:43 GMT | JPY tone remains positive; 78.6% Fibo supports USD/JPY

    2012-09-27 03:17 GMT | USD/CAD could hit an air pocket above 0.9850 – Saxobank


    TECHNICAL ANALYSIS


    EURUSD 1.28798 | 1.28803
    DAILY | WEEKLY | MONTHLY
    ----------------------------------------



    1.2970 | 1.2935 | 1.2899
    1.2860 | 1.2827 | 1.2793

    SUMMARY : Down
    TREND: Downward penetration
    MA10: Bullish
    MA20: Bullish
    STOCHASTIC: Neutral

    MARKET ANALYSIS - Intraday Analysis

    Technical Summary: Market refreshed its local lows yesterday and closed in negative territory. At the moment pair is gaining 0.16% and we expect further appreciation ahead. All our supports and resistance levels remain the same today. Main scenario: Next resistance level is seen at 1.2899 (R1). Penetration above it might resume market strengthening towards to the next target at 1.2935 (R2). Remaining resistance level for today locates at 1.2970 (R3). Alternative scenario: On the flip side, support levels lie at 1.2860 (S1). Break here is required to enable next targets at 1.2827 (S2) and 1.2793 (S3).


    GBPUSD 1.61854 | 1.61866
    DAILY WEEKLY MONTHLY
    ----------------------------------------



    1.6241 | 1.6222 | 1.6203
    1.6169 | 1.6149 | 1.6130

    SUMMARY: Down
    TREND: Downward penetration
    MA10: Bullish
    MA20: Bullish
    STOCHASTIC: Neutral

    MARKET ANALYSIS - Intraday Analysis

    Technical Summary: The upwards momentum for the GBPUSD is likely to get acceleration towards to our next resistance level at 1.6203 (R1), exactly where the 38.2% Fibonacci level lies. Main scenario: Successful break through 1.6203 (R1) would open way for further upside formation towards to next targets at 1.6222 (R2) and 1.6241 (R3). Alternative scenario: Next support level stay at 1.6169 (S1), brake below it might provide a downside priority in direction for the remaining of the day. Next suggested targets at 1.6149 (S2) and 1.6130 (S3).


    USDJPY 77.657 | 77.662
    DAILY WEEKLY MONTHLY
    ----------------------------------------



    78.03 | 77.89 | 77.76
    77.59 | 77.45 | 77.31

    SUMMARY: Down
    TREND: Sideway
    MA10: Bearish
    MA20: Bullish
    STOCHASTIC: Neutral

    MARKET ANALYSIS - Intraday Analysis

    Technical Summary: Stochastic Oscillator is recently visit oversold zone and now is pointing up. We expect further penetration above the opening price and stabilization on the positive side later on today. Medium term bias remains neutral. Main scenario: Next resistance level lie at 77.76 (R1), rise above it would suggest next targets at 77.89 (R2) and 78.03 (R3). Alternative scenario: Risk of market decline is seen below the next support level at 77.59 (S1). Break here is required to enable initial downside targets at 77.45 (S2) and 77.31 (S3).


    Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)

  6. #6

    Default

    2012-09-26 21:59 GMT

    Moody's downgrade to Spain as early as today? - NAB

    After poor risk sentiment on Wednesday, immediate risk now, according to NAB analysts, "is that Moody’s may act to slash Spain’s credit rating to junk, having warned in mid-June (when it cut Spain by three notched to Baa3) that further action was likely within three months." The timing of ratings agency actions, NAB explains, "has been exquisite so don’t bet against this happening as early as today."

    Busy session ahead in London with all eyes focused on Spain, though there will also be plenty of risk events coming on the way. German import prices will be released at 06:00 GMT, followed 1 hour later by Spanish retail sales, German unemployment change at 07:55 GMT, EU M3 and private loans 5 minutes later along with Italy business sentiment, and EU business climate index and sentiment data at 09:00 GMT.


    Read More At https://support.fxcc.com/email/technical/27092012/


    UPCOMING EVENTS

    2012-09-27 07:55 GMT | Germany. Unemployment Change

    2012-09-27 08:30 GMT | United Kingdom. Gross Domestic Product

    2012-09-27 12:30 GMT | United States. Core Durable Goods Orders

    2012-09-27 14:00 GMT | United States. Pending Home Sales


    FOREX NEWS

    2012-09-27 04:42 GMT | GBP/USD gently bid, UK GDP ahead

    2012-09-27 04:35 GMT | EUR/USD capped below 1.2890

    2012-09-27 03:43 GMT | JPY tone remains positive; 78.6% Fibo supports USD/JPY

    2012-09-27 03:17 GMT | USD/CAD could hit an air pocket above 0.9850 – Saxobank


    TECHNICAL ANALYSIS


    EURUSD 1.28798 | 1.28803
    DAILY | WEEKLY | MONTHLY
    ----------------------------------------



    1.2970 | 1.2935 | 1.2899
    1.2860 | 1.2827 | 1.2793

    SUMMARY : Down
    TREND: Downward penetration
    MA10: Bullish
    MA20: Bullish
    STOCHASTIC: Neutral

    MARKET ANALYSIS - Intraday Analysis

    Technical Summary: Market refreshed its local lows yesterday and closed in negative territory. At the moment pair is gaining 0.16% and we expect further appreciation ahead. All our supports and resistance levels remain the same today. Main scenario: Next resistance level is seen at 1.2899 (R1). Penetration above it might resume market strengthening towards to the next target at 1.2935 (R2). Remaining resistance level for today locates at 1.2970 (R3). Alternative scenario: On the flip side, support levels lie at 1.2860 (S1). Break here is required to enable next targets at 1.2827 (S2) and 1.2793 (S3).


    GBPUSD 1.61854 | 1.61866
    DAILY WEEKLY MONTHLY
    ----------------------------------------



    1.6241 | 1.6222 | 1.6203
    1.6169 | 1.6149 | 1.6130

    SUMMARY: Down
    TREND: Downward penetration
    MA10: Bullish
    MA20: Bullish
    STOCHASTIC: Neutral

    MARKET ANALYSIS - Intraday Analysis

    Technical Summary: The upwards momentum for the GBPUSD is likely to get acceleration towards to our next resistance level at 1.6203 (R1), exactly where the 38.2% Fibonacci level lies. Main scenario: Successful break through 1.6203 (R1) would open way for further upside formation towards to next targets at 1.6222 (R2) and 1.6241 (R3). Alternative scenario: Next support level stay at 1.6169 (S1), brake below it might provide a downside priority in direction for the remaining of the day. Next suggested targets at 1.6149 (S2) and 1.6130 (S3).


    USDJPY 77.657 | 77.662
    DAILY WEEKLY MONTHLY
    ----------------------------------------



    78.03 | 77.89 | 77.76
    77.59 | 77.45 | 77.31

    SUMMARY: Down
    TREND: Sideway
    MA10: Bearish
    MA20: Bullish
    STOCHASTIC: Neutral

    MARKET ANALYSIS - Intraday Analysis

    Technical Summary: Stochastic Oscillator is recently visit oversold zone and now is pointing up. We expect further penetration above the opening price and stabilization on the positive side later on today. Medium term bias remains neutral. Main scenario: Next resistance level lie at 77.76 (R1), rise above it would suggest next targets at 77.89 (R2) and 78.03 (R3). Alternative scenario: Risk of market decline is seen below the next support level at 77.59 (S1). Break here is required to enable initial downside targets at 77.45 (S2) and 77.31 (S3).


    Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)

  7. #7
    Junior Member
    Join Date
    Oct 2012
    Posts
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    Default

    Phew! that's a whole lot to read..never mind. The markets seem tight, don't you think so?

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